("Bluesky" "BSKS" or the "Company") Dan Kehoe, CEO of BSKS, announced today that he will be resigning as CEO of the Company, as part of a comprehensive restructuring. The Company has assembled a Think Tank group, to be led by Dr. Alan E. Rand, to develop a new strategic financing plan and to bring up to date the Company’s SEC reporting requirements. Other members of the Think Tank will include six highly experienced individuals with impeccable credentials: Dr. John Hertz, Steven Antebi, Mark R. Moskowitz, Esq., Don Weiss, Gordon Romney and Andrew Seybold.
It is currently intended that the six individuals joining Dr. Rand will ultimately become members of a reconstituted Board of Directors. However, in each case, their willingness to do so will be subject, among other things, to the Company’s receipt of the amount of working capital determined by the Think Tank group as necessary to move forward, as well as the successful completion of the Think Tank’s tasks, including the completion of an approved business plan and of the necessary updating of the Company’s SEC reports.
Dr. Hertz, a licensed chiropractor for 30 years, has a thriving chiropractic practice in Los Angeles with a large and prominent clientele. A graduate of Western States Chiropractic College, he became Professor of Diagnosis, Bio Mechanics, and Director of Western States Clinic for Portland, Oregon, where he was in charge of 90 interns. Dr. Hertz also served as Director of the International Sports Medicine Institute in Los Angeles, and he is presently President of the Center for Spinal Diagnostics, Inc. Subject to the satisfaction of the conditions to his serving as a director, it is intended that Dr. Hertz will replace Mr. Kehoe as President of the Company.
Mr. Antebi, an experienced investor with a diverse portfolio, and a well known philanthropist in the Los Angeles area, is currently President and CEO of Maple Capital Management, and has an affiliation with Cedars Sinai Hospital, a major health care facility in the Los Angeles area. Also subject to satisfaction of the aforementioned conditions precedent, it is currently contemplated that he would serve as Chairman of the Board.
Mr. Moskowitz, a Harvard Law School graduate and a former Editor of the Harvard Law Review, has practiced corporate and securities law in Los Angeles for over 40 years for a number of major firms, representing a diverse client base, and is currently a member of the California Bar. Heis expected to serve as Secretary of the Company if the requisite funding is obtained if the tasks identified by the Think Tank are successfully completed.
Don Weiss another proposed Board member has had a diverse career in the worlds of micro and nano-technologies and investment banking. He founded and took public a successful company engaged in the design, manufacturing and marketing of Micro-Electro-Mechanical Systems, and ran that public company as its CEO for ten years. He went on to found and raise funding for another electronics company, and then joined Bell Labs Research (Lucent Technologies, now Alcatel-Lucent) as its Vice President of its Nanotechnology Consortium. Mr. Weiss created a new profit center at Bell Labs and he developed public and private funding to enable the commercialization of a wide range of Bell Labs technologies. These technologies typically had broad applications across both commercial and military markets. He worked closely with Bell Labs research scientists as well as all levels of management to monetize the Bell Labs technology portfolio (approximately 33,000 patents) by bidding, successfully for government-sponsored programs as well as finding venture capital and strategic partners to fund advanced technology research and development and commercialization of new products.
Gordon Romney, the fifth prospective board member, is currently focused on the development of a Master of Science program for Cyber Security and Information Assurance (MS CSIA) for National University in San Diego, California. This program is designed to help meet the critical need for 60,000 “Cyber Warriors” in the U.S. and globally, to confront the surging international attacks on internet and enterprise computer infrastructures. Mr. Romney is a full Professor at National University in the School of Engineering, Technology (2007-present) and in the Department of Computer Science, Information and Media Systems. Romney is the architect and initial lead faculty member for the MS in Cyber Security and Information Assurance (CSIA) program, and he is also theSenior Research Scientist in the Cyber Security Institute of San Diego.
Andrew Seybold, the final proposed Board member, is one of the world’s leading authorities on technology and trends shaping the world of wireless mobility. Mr. Seybold is a respected analyst, consultant, commentator, author, and active participant in wireless trade organizations. For more than forty years, he has served the industry and shaped initiatives for many of the world’s most respected names in the wireless industry including Verizon, Nokia, AT&T, Motorola, and Qualcomm. His firm has advised wireless companies from startups to Fortune 1000 companies, such as Dow Chemical, Ford Motor Company and Microsoft, and provides education services through its “Wireless” University” program.
The Company said all six of the named individuals have expressed their support for the Supera technology licensed by the Company, on an exclusive basis, for healthcare industry applications. On an interim basis, the proposed new officers and directors intend to work through the Think Tank on the development of a new business plan focused on the healthcare industry and the development and successful new bridge financing plan, both of which are among the aforementioned conditions precedent to the contemplated restructuring and the assumption by the named individuals of their new positions. Consummation of the necessary bridge financing will facilitate the development of new card prototypes utilizing the licensed Supera technology, which is a prerequisite to the establishment of advantageous manufacturing relationships. Such financing would also enable the Company to engage qualified certified public accountants to bring all financial statements and SEC reporting current.
While the proposed new officers and directors are currently optimistic that they will be able to accomplish their initial objectives, as well as to bring on additional experienced board members and officers if deemed beneficial, there can be no assurance that they will be successful, or that the contemplated restructuring will occur.
For any question, please call Mark R. Moskowitz at 310/456-5152.
