ROCHESTER, N.Y., June 23, 2004 (PRIMEZONE) -- Total Identity Corp. ("TIC") (OTCBB:TIDC) is pleased to announce that that Jeffrey Hoffman has joined the company as its new CFO and COO full-time. Mr. Hoffman was a consultant for the company during part of the 4th Quarter 2003 to assist TIC with its purchase of Total Identity Systems Corp. ("TIS"). Mr. Hoffman will ensure that TIC has the proper financial controls and corporate governance policies in place. In addition, Mr. Hoffman will work to ensure that TIC makes its financial filings in a timely manner and to reduce its overall auditing and review expenses.
Mr. Hoffman has 25 years of financial and operational experience within the manufacturing sector with an extensive background in strategy, turnarounds, M&A and international business. Mr. Hoffman has provided interim CFO, management advisory, turnaround and M&A services to clients with sales ranging from $5 million a year to $225 million a year. Mr. Hoffman will also be working with TIS to reduce its debt load. Mr. Hoffman received his BBA Accounting, St. Bonaventure University, 1977 (Summa Cum Laude) MBA Finance, Rochester Institute of Technology, 1986 (Dean's Scholastic Award) CPA, New York State, 1979.
The addition of Mr. Hoffman as CFO and COO will also add depth to the TIC management team. This is part of TIC's plan to move off the OTCBB and onto a listed exchange.
Matthew Dwyer, president of TIC, stated, "The addition of Mr. Hoffman as CFO will ensure that TIC will remain a financially responsible company and assist TIS in getting bonding in order to begin submitting bids on new projects that require bonding. As COO, Mr. Hoffman's extensive operational experience within the manufacturing sector will also be extremely valuable to our management team in finding ways to reduce expenses and in increasing earnings. Our goal is to continually improve the shareholders equity position and increase earnings per share for TIC shareholders."
About TIC
TIC is developing opportunities within the $13 billion signage industry with the goal of becoming the place for corporate America to go for their custom sign needs. TIC plans on having various product offerings that will give its clients greater value with enhanced customer service. TIC is looking at various sign companies that will both complement and be synergistic with TIC in its efforts to become the leading custom sign company to corporate America.
Certain information contained in this news release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. While these statements are made to convey the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Actual company results may differ materially from those described. The company's operations and business prospects are always subject to risk and uncertainties. A more extensive listing of risks and factors that may affect the business prospects of the company and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission.
For additional information contact:
Total Identity Corp.: Matthew Dwyer 585-427-9050
Or visit our website at: www.totalidentity.com