Ethos Announces Corporate Update, Appointment of New Officers and Directors
Friday September 12, 12:26 pm ET
SAN DIEGO, CA--(MARKET WIRE)--Sep 12, 2008 -- Ethos Environmental, Inc. (OTC BB:ETEV.OB - News), a San Diego-based company, announced that it has appointed new officers and directors. On September 5, 2008, Mr. Enrique de Vilmorin, Mr. Luis Willars, and Mr. Jose Manuel Escobedo resigned from all positions with the Company.
The outgoing board of directors of the Company nominated and appointed Corey P. Schlossmann as interim President, Chief Executive Officer and Director, Howard Landa as Director, and Bruce A. Tackman as Director. Mr. Thomas Maher was confirmed as Chief Financial Officer of the Company, and was also appointed as Treasurer.
In addition, the Company assumed a note payable by Mr. de Vilmorin in exchange for Mr. de Vilmorin agreeing to cancel 13,600,000 shares of the Company's common stock, with such shares representing Mr. de Vilmorin's entire position in the Company. Mr. de Vilmorin will continue to consult with the Company on an as needed basis only.
The shares being cancelled represent 33.6 percent of the Company's current total shares issued and outstanding. On a fully diluted basis, the shares being cancelled represent 27 percent of the Company's common stock.
For additional information on the Company, please visit www.ethosfr.com.
About Ethos Environmental, Inc.
Ethos Environmental, Inc. (OTC BB:ETEV.OB - News), a San Diego-based corporation, is the manufacturer of award-winning fuel reformulating products that help industries meet environmental regulations and relieve skyrocketing fuel costs. By using Ethos FR®, commercial vehicles can increase fuel mileage between 7 percent and 19 percent while reducing harmful emissions by more than 30 percent. For more information about Ethos Environmental, Inc., visit www.ethosfr.com.
Safe Harbor for Forward-Looking Statements
Except for statements of historical fact, the information presented herein constitutes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Ethos Environmental to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, changes in management, customer demand for its products, and other factors over which Ethos Environmental has little or no control. Ethos Environmental is unable to predict the affect, if any, on its business operations, financial condition and general economic outlook resulting from the change in its officers and directors, and, in particular, the resignation of its former Chief Executive Officer. Ethos Environmental undertakes no obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
