TEMECULA, Calif., Dec. 11, 2002 (PRIMEZONE) -- e-Perception Inc. (OTCBB:EPER), a provider of real-time human capital management solutions, today announced that William Richardson, the company's current Chief Executive Officer, has stepped down to pursue other endeavors. Mr. Richardson will remain on the Board of Directors as an active member and will continue to provide his valuable expertise to the company in that capacity. Under Mr. Richardson's tenure as CEO and Chairman of the Board, e-Perception reached its first quarter of profitability in Q3 2002.
The company further announced that Michael Vanderhoof, a member of the Board of Directors, will step into the role of interim CEO and Chairman of the Board of Directors.
Said Mr. Vanderhoof: "The company wishes to thank Mr. Richardson for his valuable contribution to our current success and wish him the best in his future endeavors."
In his capacity as interim CEO, Mr. Vanderhoof will lead a committee appointed by the Board to evaluate the candidates for the vacant CEO position. The company expects to fill the position early in 2003.
Mr. Vanderhoof also stated that, "we are presented with the ideal opportunity to strengthen our executive team with the addition of an experienced, revenue-focused CEO. We are in discussions with two suitable candidates and expect to make a very exciting announcement soon."
In addition, Dave Belcher, a founder of e-Perception and the current Chief Technology Officer has been appointed to the Board of Directors.
Said Mr. Vanderhoof: "Mr. Belcher's intimate knowledge of the company's day-to-day business functions as well as his continued strong leadership will be invaluable as the company ramps up revenues over the next few years. We are very pleased that he accepted this nomination."
About e-Perception
e-Perception, Inc., a Nevada corporation, provides real-time decision support for human capital management. The company's highly configurable HR solutions are rapidly deployed as stand-alone or loosely linked modules. Each application includes an interactive diagnostic and reporting tool that identifies and ranks opportunity for improvement in the workforce and link these to custom-developed change management action plans.
e-Perception's target market includes medium to large enterprises as well as the U.S. Government through their Federal Supply Schedule (FSS) contract awarded by the U.S. General Services Administration (GSA). Current customers include Dell Computer, Sharp HealthCare, Johnson Controls, StorageTek, Northwestern Mutual, Electronic Data Systems, Halliburton and others. The Company delivers its products through our direct sales force, VAR Channel and Strategic Alliance Partner program.
The information contained herein regarding risks and uncertainties, which may differ materially from those set forth in these statements in addition to the economic, competitive, governmental, technological and other factors, constitutes a "forward looking statement" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, the Private Securities Litigation Reform Act of 1995 and is subject to the safe harbors created thereby. While the Company believes that the assumptions underlying such forward-looking information are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the forward-looking information will prove to be accurate. Accordingly, there may be differences between the actual results and the predicted results, and actual results may be materially higher or lower than those indicated in the forward-looking information contained herein. Further, the Company assumes no obligation to update or otherwise publicly revise the forward-looking information disclosed herein to reflect circumstances existing after the date hereof.