SAN RAMON, Calif., May 27, 2004 (PRIMEZONE) -- PowerHouse Technologies Group, Inc. (Pink Sheets:PWHT), the developer of mobile computing solutions that enhance personal productivity, today announced that David R. Wells, a seasoned executive with experience in managing rapidly growing businesses, has joined the Company as Vice President Finance Operations.
Mr. Wells will oversee PowerHouse's financial accounting and reporting activities and will also be responsible for the Company's investor relations program.
"David brings to PowerHouse Technologies an extensive portfolio of financial and corporate management skills that are enabling him to play an integral role in various aspects of the Company's day-to-day operations," stated Chairman and Chief Executive Officer Jay Elliot. "In his central role as VP Finance Operations, David will be a valuable asset to the Company as it gears up for future growth and moves to broaden its exposure to members of the investment community."
Mr. Wells, 41, who has 19 years of experience in financial and corporate management, is a skilled negotiator, moderator, decision-maker and motivator with operations and administrative experience in finance, human resources, facilities management and intellectual property.
Mr. Wells came to PowerHouse Technologies from Insurance Services of America, where he was the acting COO/CFO from May 2002 to June 2003. He previously served as Vice President, Finance and Administration for three companies, BroadStream, Inc. (November 2000-January 2002); Hollywood Stock Exchange, an internet gaming company (January 1999-September 2000); and ITE USA/Webchoice (July 1998 to January 1999). Before that he was Chief Financial Officer of HSO Business Systems (1997), headquartered near Amsterdam, and held positions as a Senior Business Analyst, Controller, Sales Representative and Commercial/Corporate Lending officer with a number of California firms.
He holds an MBA from Pepperdine University and a BA from Seattle Pacific University.
About PowerHouse Technologies Group, Inc.
PowerHouse Technologies Group, Inc., (www.powerhousetechnologies.info), headquartered in San Ramon, Calif., acquires, develops and markets computing software and infrastructure technologies that improve the way mobile information is securely stored, carried and accessed. PowerHouse delivers progressive, systems-based solutions that address the accessibility and mobility of information anytime, anywhere, with products such as the Migo, a revolutionary mobile computing system.
SAFE HARBOR PROVISION
Certain statements in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Additional information concerning forward-looking statements is contained under the heading of risk factors listed from time to time in PowerHouse Technologies Group, Inc.'s filings with the Securities and Exchange Commission. We do not assume any obligation to update the forward-looking information.