Science & Technology
Science and Technology
Science and Technology
Tue, June 15, 2010 Cyclone Power Technologies Adds Seasoned CFO to Executive Management Team
POMPANO BEACH, Fla.--([ BUSINESS WIRE ])--[ Cyclone Power Technologies ] (Pink Sheets: CYPW) announced today that it has named Bruce Schames as its Chief Financial Officer.
"Bruce has already provided substantial value to our company and we expect his experience and guidance to be essential as we file our initial disclosure statements with the Securities and Exchange Commission and work towards moving our stock to a national exchange."
Mr. Schames, a CPA since 1971, has been working with the Company as its outside accountant since 2008. Since 2001, he has represented both public and private clients, handling matters of financial statement preparation, SEC audits, general accounting supervision, operations review, systems development, and tax planning and compliance reporting. Prior to that, Mr. Schames served as CFO of East Coast Beverage Corp. (OTCBB: ECBV), and Medcom USA (NASDAQ: EMED), and Financial Reporting Manager for Dole Fresh Fruit Co.
aWe are very pleased to bring Bruce on board,a stated Frankie Fruge, COO and Director of Cyclone. aBruce has already provided substantial value to our company and we expect his experience and guidance to be essential as we file our initial disclosure statements with the Securities and Exchange Commission and work towards moving our stock to a national exchange.a
CORPORATE PROFILE
Cyclone Power Technologies is the developer of the award-winning [ Cyclone Engine ]a" an eco-friendly external combustion engine with the power and versatility to run everything from portable electric generators and garden equipment to cars, trucks and locomotives. Invented by company founder and [ CEO Harry Schoell ], the patented Cyclone Engine is a modern day steam engine, ingeniously designed to achieve high thermal efficiencies through a compact heat-regenerative process, and to run on virtually any fuel - including bio-diesels, syngas or solar - while emitting fewer greenhouse gases and irritating pollutants into the air. Currently in its late stages of development, the Cyclone Engine was recognized by Popular Science Magazine as the Invention of the Year for 2008, and was presented with the Society of Automotive Engineersa™ AEI Tech Award in 2006 and 2008. Additionally, Cyclone was recently named Environmental Business of the Year by the Broward County Environmental Protection Department. For more information, visit [ www.cyclonepower.com ].
Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
