PHOENIX, Jan. 12, 2004 (PRIMEZONE) -- Viastar Holdings Inc. (OTCBB:VISH) announced today that the company has appointed Mr. Kenneth J. Yonika its newest member of management as Chief Financial Officer and the latest addition to its Board of Directors. Mr. Yonika replaces the positions left vacant by former CFO/Director Mr. George Malasek who resigned from both positions in December 2003.
Mr. Yonika has an extensive background in corporate finance and "Big Six" public accounting and has worked with a number of public companies as either a consultant, Chief Financial Officer and/or as a member of the Board of Directors. Mr. Yonika's expertise in the many facets of corporate finance, mergers and acquisitions, public offerings, capital formation, and business valuation, coupled with industry experience in distribution and manufacturing, has made him the optimum choice as Viastar's newest member of management.
A twenty-year finance veteran, Mr. Yonika has served as liaison with corporate underwriters, auditors, various regulatory bodies, investors and venture capitalists. His diverse experience and skills should serve Viastar well in complying with Sarbanes-Oxley and other reporting issues. Mr. Yonika adds to the depth of management that Viastar has attracted since its merger with Level X Media Corporation.
Upon graduating from Western Connecticut University and completing post-graduate studies in California, Mr. Yonika held various positions in both tax and audits with regional, national and "Big Six" public accounting firms including positions as Audit Manager with HARLAN & BOETTGER-CPAs, Senior Tax Advisor for RSM McGLADREY -CPA's, Tax Consultant and Public Accounting expert for ROBERT McKAY & ASSOCIATES-CPAs and Senior Auditor for KPMG PEAT MARWICK CPA's. Additionally, Mr. Yonika is a licensed Certified Public Accountant and is a member of the American Institute of Certified Public Accountants as well as the California Society for Certified Public Accountants.
Since 1996, Mr. Yonika gained significant experience in corporate management, serving as Vice President of Finance in the international health products industry, where he also acquired extensive experience in distribution and manufacturing for companies grossing $50 million plus annually. In addition, Mr. Yonika participated in several IPO's throughout his career as a member of management and as an independent Certified Public Accountant.
"After months of searching for the perfect candidate, we find ourselves fortunate to acquire a top notch finance professional. Ken has the necessary skill set and experience that will move Viastar towards carrying out its ambitious plans for growth and increasing shareholder value," stated Company CEO John D. Aquilino.
For more information visit Viastar's web site at http://www.viastarcorp.com/
About Viastar
Viastar Holdings, Inc. is engaged in development, production and distribution of entertainment related media for film, television, music and publishing interests. The Company's portfolio currently includes ownership of Viastar Distribution Group, A.V.O. Studios, Moving Pictures International, Viastar Records, Quadra Records, Light of the Spirit Records, and Viastar Classical.
Except historical matter contained herein, matters discussed in this news release are forward-looking statements and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risks and uncertainties, which may affect the Company's business and prospects and cause actual results to differ materially from these forward-looking statements.