Contact Information: PR Contact(s) Jack Mayer President Powersafe Technology Corp. (718) 951-8021 Bennie Sham Fusion PR (212) 651-4219
Mikhail Leibov Joins Powersafe Technology Board of Directors
Telecommunications Entrepreneur Brings Wealth of International and Technology Business Experience
| Source: Powersafe Technology
NEW YORK, NY--(Marketwire - April 7, 2009) - Powersafe Technology Corp. (OTCBB : PSFT )
announced that Mikhail Leibov has been elected to the company's board of
directors, as well as the board of its wholly owned subsidiary
Amplification Technologies, Inc. (ATI). Mr. Leibov will also act as a
consultant to Powersafe and ATI.
Mr. Leibov has a long and successful career in the computer and
telecommunications fields. He launched several startups and led the teams
at IBM, AT&T and Prodigy that developed some of the largest real time
database systems and key components of the Internet, including the first
Web-based e-commerce system.
Mr. Leibov founded and was the CEO and chairman of Corbina Telecom, one of
the largest telecom carriers in Russia, from its inception until 2007. Mr.
Leibov grew Corbina Telecom from a startup into a far-flung enterprise
offering a range of services throughout major markets in Russia. During
Mr. Leibov's stewardship, Corbina was sold at successively higher prices
three times, ultimately for over $300 million. Thereafter, he was chairman
and president of IDT Telecom until April 2008, managing several divisions
of IDT and offices in almost 30 countries.
Mr. Leibov has a masters of science degree in mathematics and applied
computer science from Moscow University.
"We welcome Mr. Leibov to our board, and are privileged to have such an
outstanding entrepreneur advising Powersafe," said Jack N. Mayer, president
of Powersafe Technology. "Mr. Leibov brings valued expertise in building
successful products and companies and will be a strong asset."
"I am very pleased to join the Powersafe Technology board of directors at
this time," said Leibov. "They have a compelling market opportunity and
have already made great progress in commercializing their patented
technologies."
About Powersafe Technology Corp. (OTCBB : PSFT )
Based in New York, Powersafe Technology, thru its wholly owned subsidiary
ATI, (www.amplificationtechnologies.com) seeks to transform the field of
low-level signal detection. The company's patented platform semiconductor
technology has the potential to offer unparalleled and far-reaching
benefits to industries such as medical diagnostics, drug development,
scientific instrumentation and homeland security. The technology has been
successfully used to develop extremely sensitive detectors of low levels of
light and the company believes its detectors will be used in many existing
applications as well as open up new markets. ATI's technology is patented
to encompass detection of signals other than light, and could in principle
be used to create highly sensitive biological, radiological, electrical,
and chemical sensors.
Forward-Looking Statements
This release contains forward-looking statements 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. All forward-looking
statements are inherently uncertain as they are based on current
expectations and assumptions concerning future events or future performance
of Powersafe and Amplification. Readers are cautioned not to place undue
reliance on these forward-looking statements, which are only predictions
and speak only as of the date hereof. In evaluating such statements,
prospective investors should review carefully various risks and
uncertainties inherit herein and set forth in Powersafe's SEC filings and
such other matters as are contained therein. These risks and uncertainties
could cause actual results to differ materially from those indicated in the
forward-looking statements.