Published: June 17, 2009
Mark J. Lister and John F. Levy Appointed to Applied Energetics Board of Directors
TUCSON, Ariz. - (BUSINESS WIRE) - Applied Energetics, Inc., (Nasdaq: AERG), today announced that Mark J.
Lister and John F. Levy were appointed as Class I Directors of Applied
Energetics. The appointments increased the number of directors on the
board to 6. The current term for Class I Directors expires at the annual
meeting of stockholders in 2011. Mr. Lister was appointed as a member of
the Compensation Committee of the Board of Directors of the Company and
Mr. Levy was appointed as a member of the Audit Committee of the Board
of Directors of the Company. The appointment of Mr. Levy to the Audit
Committee as its third independent director is intended to regain
compliance with NASDAQ's Listing Rule 5605(c).
Since November, 2006, Mr. Lister has been President of StratTechs, Inc.,
a consulting firm he founded which specializes in brokering technology
within the Defense, Intelligence and Homeland Security Government
markets. Mr. Lister currently serves on the Secretary of the Navy
Advisory Panel and recently completed service as Chairman of the Naval
Research Advisory Committee. From January 1992 to June 2006,
Mr. Lister was employed by the Sarnoff Corporation where he most
recently served as Senior Vice President of Government Operations. While
at Sarnoff, from 2001 to 2005, Mr. Lister served as Managing Director of
the Rosettex Technology and Ventures Group, a joint venture of Sarnoff
Corporation and SRI International for which he was a founder, and from
1996 to 2001, Mr. Lister served as Executive Director of the National
Information Display Laboratory. From 1987 to 1992, he served as
Director, Advanced Development and Applications in the Research and
Development Group of the Office of the Assistant Secretary of the U.S.
Air Force for Space. Mr. Lister's government career began at the Naval
Research Laboratory where he served as a researcher in the Space
Applications Branch from 1977 to 1987. Mr. Lister has a B.S. in
Electrical Engineering from Drexel University, a B.S. in Mathematics
from St. Vincent College and a MEA from George Washington University.
Since May 2005, Mr. Levy has served as the Chief Executive Officer of
Board Advisory Services, a consulting firm that advises public companies
in the areas of corporate governance, corporate compliance, financial
reporting and financial strategies. Mr. Levy served as the Interim Chief
Financial Officer from November 2005 to March 2006 of Universal Food &
Beverage Company, which filed a voluntary petition under the provisions
of Chapter 11 of the United States Bankruptcy Act on August 31, 2007.
From November 1997 to May 2005, Mr. Levy served as Chief Financial
Officer of MediaBay, Inc., a NASDAQ listed company and provider of
spoken word audio content. While at MediaBay, he also served for a
period as its Vice Chairman. Mr. Levy is a certified public accountant
with nine years of experience with the national public accounting firms
of Ernst & Young, Laventhol & Horwath and Grant Thornton LLP. Mr. Levy
is a director and Chairman of the Audit Committee of Take-Two
Interactive Software, Inc., a developer, marketer, distributor and
publisher of interactive entertainment software games, a director, Lead
Director and Chairman of the Audit Committee of Gilman Ciocia, Inc., a
financial planning and tax preparation firm, a director of Atlas Mining
Company, an exploration stage natural resource and mining company and is
a director of PNG Ventures, Inc., a producer and distributor of
vehicle-quality liquid natural gas serving airports, public transit,
refuse, seaports, regional trucking, taxis and government fleets markets.
Brigadier General, U.S. Marine Corps (Ret.) James M. Feigley, director
and non-executive Chairman of the Board of Directors, commented, "We are
very pleased to welcome Mark Lister and John Levy to our Board of
Directors. Mark's extensive background in advanced technologies and his
executive experience in government, military and commercial operations
will provide valuable counsel. John's experience as chief financial
officer and director of publicly traded companies coupled with his
public accounting experience will further strengthen our Board."
About Applied Energetics, Inc.
Applied Energetics, Inc., based in Tucson Ariz., specializes in
development and manufacture of high performance lasers, high voltage
electronics, advanced optical systems, and integrated guided energy
systems for defense, aerospace, industrial, and scientific customers
worldwide. Applied Energetics pioneered the development of Laser Guided
Energy (LGE) technology, and related solutions for defense and security
applications. For more information about Applied Energetics, please
visit www.appliedenergetics.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995:
Certain statements contained in this News Release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve a number of known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements of the Company to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements.
Such factors include, but are not limited to: the dependence on sales
of a limited number of products and the uncertainty of the timing and
magnitude of government funding and orders, dependence on sales to
government customers; the uncertainty of patent protection; the
uncertainty of strategic alliances; the uncertainty of management
tenure; the impact of third-party suppliers' manufacturing constraints
or difficulties; management's ability to achieve business performance
objectives, market acceptance of, and demand for, the Company's
products, and resulting revenues; development and testing of technology
and products; manufacturing capabilities; impact of competitive products
and pricing; litigation and other risks detailed in the Company's
filings with the Securities and Exchange Commission. The words "looking
forward," "believe," "demonstrate," "intend," "expect," "contemplate,"
"estimate," "anticipate," "likely" and similar expressions identify
forward-looking statements. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the
date the statement was made. Applied Energetics undertakes no obligation
to update any forward-looking statements contained in this news release.
Cameron Associates
Kevin McGrath, 212-245-4577
Kevin@cameronassoc.com
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