BOCA RATON, FL--(Marketwire - July 18, 2008) - H3 Enterprises, Inc. (PINKSHEETS: HTRE) ("H3" or the "Company") announces the revamping of its management team to focus on building strong internal controls to help manage the Company's expansion efforts. As such, it is with deep regret but steadfastness of purpose that H3 announces that, effective immediately, Dr. Benjamin Chavis will no longer serve as the Company's president and Chief Executive Officer.
After exhaustive searches, the Company believes it has put into place the makings of a dynamic new management team, totally focused on implementing every element of the Company's award winning business model as expeditiously and profitably as possible.
Mr. Guy M. Jean-Pierre, a principal of Gold Coast Professional Services, PA, has been brought in as Chief Legal Officer of the Company effective July 1, 2008. Mr. Jean-Pierre has the proven background and talents necessary to establish a strong corporate governance policy, ensure H3's publicly traded security compliance, and administer H3's U.F.D.D. franchising legal requirements among other things.
Mr. Dennis Ruggeri has an extensive financial management background with public companies for over 25 years; H3 welcomes him as Chief Financial Officer of the Company effective July 1, 2008. Mr. Ruggeri is responsible for streamlining the financial operations and fiscal reporting of the Company with an eye towards acquisitions, spin-offs, and the landing of the Company on the NASDAQ Bulletin Board.
Mr. Jordan Edelson has been retained to be the new Chief Technology Officer of the Company effective June 15, 2008 responsible for, among other things, all video gaming, digital tournaments, technology joint ventures and collaborations including, but not limited to, the Partnership Agreements and sponsorships with Gamer Saloon, Microsoft and ESportsTV.
Brian Peters, H3 Co-Founder and Director, will assume the position of interim President & CEO while the Company sources additional experienced corporate leadership to forge its rapid domestic, international, and digital expansion.
H3's new headquarters will be in Boca Raton, Florida, effective immediately. The Board believes it is beneficial to have the Company's headquarters in the same state as the Company's principal businesses, including the Hip Hop Soda Shop(s) located in Miami Gardens and Tampa Bay. South Florida is also home to most of H3's top officials.
H3 believes this new management team brings clarity and creates a unified sense of purpose for the Company. The vision of H3's award winning business model is now a step closer to realization with all the key players acting in unison toward a common purpose.
SAFE HARBOR: Certain information included herein may contain statements that are forward-looking, such as statements relating to plans for future expansion and other business development activities. Such forward-looking information is subject to changes and variations which are not reasonably predictable and which could significantly affect future results.