LAS VEGAS, July 18, 2006 (PRIMEZONE) -- 1st Global Financial Corporation (Pink Sheets:FGBF) announced that two new directors were elected to its Board of Directors at the company's annual meeting held on Friday, April 21, 2006 in Las Vegas, Nevada. The new directors elected are T.A. "Gil" Gillis, CEO of the company's 1st Federal Financial, Inc. subsidiary, and John E. Glass, who is currently acting as an advisor to the company on acquisitions and business development.
The Board now consists of five members. Votes representing over 80% of the company's outstanding shares were present in person, or by proxy, at the meeting. In addition to course of business motions and elections, Jonathan C. Reuben, CPA, of an Accountancy Corporation, was ratified as independent public accountant and auditors for 1st Global Financial for the fiscal years ending December 31, 2004, 2005 and 2006.
Mr. Gillis has over 30 years of experience in sales and marketing as an executive and as an entrepreneur. He has extensive sales and marketing experience in merchant bankcard sales and electronic transaction processing on a national scale. Gil founded and operated a merchant bankcard marketing and processing company that grew into one of the largest of its kind in the nation before he sold it in 2002 to a public company.
Mr. Glass has over 20 years of experience in corporate development, general management and business creation. He has extensive experience in forging entries into new domestic and international markets and in fostering worldwide strategic partnerships and alliances. Glass has founded two companies in the telecommunications and hi-tech industries, and, for one of them, assisted in raising over $100 million in venture capital for it.
Current Board members Marmaduke "Duke" Lambert, a tax and business consultant, Albert R. Reda, the company's secretary, and Arnold F. Sock, the company's president, were elected to new terms.
At the meeting, Arnold F. Sock, President of 1st Global Financial, gave an overview of the company's status and direction and reported on the company's Accepted Sales Advance Purchase Funding, LLC subsidiary. Duke Lambert reported on the company's Debit Cash Card, LLC subsidiary, and Gil Gillis reported on the company's new subsidiary, 1st Federal Financial, Inc.
About 1st Global Financial Corporation
1st Global Financial Corporation has three operating subsidiaries: Accepted Sales Advance Purchase Funding, LLC (A.S.A.P. Funding) (www.workingcapitalasap.com), Debit Cash Card, LLC, and 1st Federal Financial, Inc. (www.1stfederalfinancial.com). A.S.A.P. Funding provides cash advances for the working capital needs of small and mid-size businesses. Debit Cash Card will begin marketing the private label brand stored-value debit card, The Best Cash Card(tm) (www.thebestcashcard.com), at the end of July. 1st Federal financial is the sales and marketing arm of its sister companies. Information on 1st Global Financial can be accessed at www.1stglobalfinancial.com. 1st Global Financial has received a major investment from Seamless Wi-Fi, Inc. (OTCBB:SLWF) and will be working with Seamless (www.slwf.net) on various opportunities in the financial services arena using Seamless propriety technology and products.
Safe Harbor Statement
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as FGBF or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, such statements in this release that describe the company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include among other things, product price volatility, product demand, market competition, and risk inherent in the operations of a company.
For additional information please contact Arnold F. Sock, President.
-- HTML: http://newsroom.eworldwire.com/releases/15070 -- PDF: http://newsroom.eworldwire.com/pdf/15070.pdf -- ONLINE NEWSROOM: http://newsroom.eworldwire.com/309881.htm -- NEWSROOM RSS FEED: http://newsroom.eworldwire.com/xml/newsrooms/309881.xml -- LOGO: http://newsroom.eworldwire.com/309881.htm