REDONDO BEACH, Calif., Dec. 15, 2004 (PRIMEZONE) -- CorpHQ (Pink Sheets:COHQ) announced today that it has accepted the resignation of Carlton McGee as its Chief Financial Officer (CFO). Mr. McGee will continue as a member of the Company's professional team as Senior Advisor to the Chief Executive Officer. In his new role, Mr. McGee will focus on enhancing existing relationships and building new ones on behalf of CorpHQ and its portfolio companies from offices in Jersey City, NJ.
Mr. McGee stated, "While I have greatly enjoyed working on the West Coast as CFO, after six months, we've realized that I can create more strategic value for CorpHQ by focusing on business development activities on the East Coast."
Mr. Crane, CEO, said, "Given Carlton's background and experience, we originally believed he would be able to perform both as corporate CFO and COO of an East Coast operation. However, his work on the Safeguard project caused him to spend more time at our headquarters office in Redondo Beach, California than we had anticipated and this was not what either of us had in mind when he joined our company. We both agreed that this move will put him back into a role that can be more fruitful for both him and for CorpHQ. Our financial management will remain strong as Carlton will continue to advise me in this area to enhance our long-standing professional relationships."
About CorpHQ, Inc.
CorpHQ Inc. operates as a holding company and business incubator; we organize, invest in, and provide comprehensive management support and a variety of resources to high-potential companies. CorpHQ also acquires interests in and provides consultation to selected companies that are synergistic with its portfolio companies.
CorpHQ provides periodic Voluntary Financial Reports on its operations at http://www.pinksheets.com/quote/finance.jsp?symbol=COHQ.
Forward-Looking Statements
Any statements made in this press release which are not historical facts contain certain "forward-looking statements" as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
This press release is available at www.corphq.com and http://www.pinksheets.com/quote/quote.jsp?symbol=COHQ.