HOFFMAN ESTATES, IL , Dec. 08, 2017 (GLOBE NEWSWIRE) -- Wellness Center USA, Inc. (OTCQB: WCUI), today announced the appointments of Mr. Paul D. Jones as the Company’s President, Thomas E. Scott, CPA, as the Company’s Secretary, and a Compensation Committee consisting of Messrs. Jones, Scott and Mr. William E. Kingsford. All elected roles became effective immediately and shall serve until the next annual meeting of the Company’s stockholders.
On December 1, 2017, the Board of Directors consisting of Andrew J. Kandalepas, Jay Joshi, M.D. and recent appointees; Messrs. Kingsford, Scott, Jones, and Mr. Roy M. Harsch, accepted the voluntary resignation of Mr. Kandalepas, as President, and appointed Mr. Jones as President. Mr. Kandalepas will continue as CEO and Chairman.
The Board of Directors also accepted the voluntary resignation of Dr. Joshi, as Secretary, and appointed Mr. Scott as Secretary. Dr. Joshi will continue as a director.
Additionally, the Board of Directors appointed a Compensation Committee consisting of Messrs. Jones, Scott and Kingsford. None of such appointees will participate in any determination or recommendation relating to any compensation or benefits to be provided to themselves.
Further, the Board of Directors accepted the engagement of Element 78, LLC to serve as Strategic Advisors of the Corporation. Element 78 will provide executive services consisting of ongoing strategic, financial, and operational advice. Executive services will be provided by the principals of Element 78. For more information on Element 78, visit: http://www.e78advisors.com
Wellness Center USA’s new President, Paul D. Jones, commented, “I am pleased to serve on the Company’s Board as well as help management achieve its business ambitions. Armed with premier technologies and an astute and motivated newly formed board and management, I am confident our future is not only bright but will evolve quickly. We will work diligently, as a team, to fully engage and empower every human asset available to capture the vast opportunities and accelerate growth. Our team’s mission is to let the world know the millions of patients Psoria-Light can help and the serious safety/security problems Stealth Mark can resolve, ranging from homeland security to sex trafficking. I have resided on many company boards and have never seen technologies like ours.”
Biographical information of new board and management members is as follows:
Mr. Jones was initially engaged in the sales, distribution, and product development of recreational products. For over 38 years, he has operated a landscape design and construction firm ranked among the top 15% nationally and recipient of many awards, including the 2008 Small Business of the Year Award from the Wausau Wisconsin Regional Chamber of Commerce (“WWRCC”). He has served the WWRCC as Business Advocacy Chair, and as a member of the Board of Directors for nine years. In 2008 he declined a solicitation to run for the Wisconsin State Assembly, but from 2012 to 2014 chaired a citizen’s board panel addressing operational issues at the Marathon County Jail.
Mr. Scott is a CPA, with CEO and CFO experience in several industries, including real estate development and sales, mortgage banking, food service and retail industries. He has served as an officer and director of numerous not-for-profit organizations, including the Boy Scouts, Rotary, and Sigma Chi Fraternity Housing Corporation at the University of Arizona, and BDFC, the major local business development corporation (SBA lender) in Arizona. He co-founded and served as treasurer for FEAT, a CFO organization in Southern Arizona. Mr. Scott has a BA in accounting from the University of Arizona and MA work in taxation from Golden State University.
Mr. Kingsford was a leading member of the Chicago-based real estate firm that became known as LaSalle Partners. He is experienced in finance, equities, real estate and business operations. For the past twenty years, he has owned and managed Spruce Point Tree Farm, LLC, a fully-integrated farming operation that grows Grade A-quality Blue Spruce sold to the leading wholesale distributor and landscape businesses throughout Colorado. He has a BA and MA from Western Michigan University.
Mr. Harsch has practiced environmental law for over 40 years. He served as the administrative assistant to the Chairman of the Illinois Pollution Control Board, and as an attorney and a supervising engineer with the United States Environmental Protection Agency, Region V, in Chicago. He served as senior counsel to Drinker, Biddle & Reath LLP until 2015, when he formed his own private firm through which he continues to serve a select group of existing clients. Mr. Harsch was on the Foundation Board of Delnor Community Hospital in Geneva, Illinois for over 14 years and served as a member and chair of the Chicago Bar Association Environmental Committee. He received a BA in chemical engineering from Iowa State University, and a JD and an MS in environmental engineering from the University of Iowa.
About Wellness Center USA, Inc.
Wellness Center USA, Inc. (www.wellnesscenterusa.com) is a hybrid healthcare company that combines best in class technologies, software, devices, providers, protocols, goods, and services. It was created to address important healthcare and wellness needs via breakthrough solutions, all centered around the “well-being of the body and mind”. Wellness Center USA, Inc. is the parent company of two businesses reporting consolidated: Stealth Mark and Psoria-Shield.
Safe Harbor Statement:
Certain statements and projections contained in this presentation that are not statements or financial results of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements and projections include statements regarding any proposed exchange transactions, the anticipated closing date of such transactions and future results following a closing of the transactions. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include words like “believe,” “expect,” “anticipate,” “pending”, “estimate,” and “intend” or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” While it is not possible to identify all factors, risks and uncertainties that might relate to, affect or arise from the proposed transactions and plans which might cause actual results to differ materially from expected results, such factors, risks and uncertainties include delays in completing the transactions, difficulties in integrating operations following the transactions, difficulties in manufacturing and delivering products, potential market rejection of products or services, increased competitive pressures, changes in general economic conditions, legislative and regulatory changes that adversely affect the business in which the parties are engaged, changes in the securities markets and other factors, risks and uncertainties disclosed from time to time in documents that the Company files with the SEC.