Bill Dully to Become Chairman/CEO of Global Sports and Entertainment, Inc.Firm to Drop Ault Glazer & Co. Name as the Private Equity Firm Closes IRVINE, Calif. -- Ault Glazer & Co., Inc. (Pink Sheets:AULT) announced today that it plans to cease operations as a private equity firm and that Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Milton "Todd" Ault III will exit, leaving his post to current Group President, Bill Dully. The firm also plans to adopt the new name, "Global Sports and Entertainment, Inc." to embrace its focus on its core operating business, San Clemente San Clemente (săn klĭmĕn`tē), city (1990 pop. 41,100), Orange co., S Calif., on the Pacific coast; inc. 1928. Camp Pendleton, a large U.S. marine base, adjoins the city, which is chiefly residential. based Global Authentication (1) Verifying the integrity of a transmitted message. See message integrity, e-mail authentication and MAC. (2) Verifying the identity of a user logging into a network. Holdings, Inc. (GAI GAI General Applet Interface GAI Giustizia e Affari Interni (Italian) GAI Global-Tech Appliances Inc GAI Guild of Architectural Ironmongers GAI Global Atmospherics Inc GAI General Ability Index GAI Great American Insurance ). The new holding company will have minority ownership in Freedom Grill and Boom Entertainment, and will wholly own The Collectors X, Hayes Brothers Snowboard, as well as Global Authentication, Inc. as its flagship operation. Milton "Todd" Ault III, Chairman and CEO of Ault Glazer, commented, "At a time when the Glazers announced their retirement, and given that Bill has more than 20 years of experience in Sports and Entertainment and Consumer Products, it was the logical choice for Mr. Dully to run the newly formed Global Sports and Entertainment company." Ault went on to say, "I plan on focusing all of my attention on Zealous Trading Group (ZLST.OB) and its core assets including Zealous ATS and its developing adult entertainment businesses." Bill Dully was the COO/CFO for 3DO, a NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on Company, and has spent the last 22 years running various companies including nine years at Upper Deck and Upper Deck Authenticated au·then·ti·cate tr.v. au·then·ti·cat·ed, au·then·ti·cat·ing, au·then·ti·cates To establish the authenticity of; prove genuine: a specialist who authenticated the antique samovar. as Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Worldwide Operations. Mr. Dully is also credited with turning around Donruss/Score Entertainment Trading Card Company as its President, COO and CFO See Chief Financial Officer. . Bill Dully, Group President of Ault Glazer & Co., Inc., said, "Focusing on sports and entertainment is a natural fit and opportunity for me to excel in what my talents will bear and my twenty plus years in these fields have allowed me to make many connections which I plan to explore so that the expansion of this firm will continue." Dully went on to say, "I plan to monetize our existing relationship with EBay to bring more profit and revenue forward for the firm." Global Authentication is one of three companies partnered with the online marketplace to assure buyers that they are purchasing legitimate collectibles and memorabilia. Ault Glazer plans on divesting its assets that are not sports and entertainment related. About Ault Glazer & Co., Inc. Ault Glazer & Co., Inc. (www.aultglazer.com), a holding company, which through its wholly-owned subsidiaries and minority interests, is engaged in a number of diverse business activities, which include: merchant banking; corporate lending; shareholder activism; Internet sales and marketing; real estate; healthcare; energy; consumer products & services; insurance and media. Forward-Looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. The information contained herein includes forward-looking statements. These statements relate to future events or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. for forward-looking statements contained in the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995 protects companies from liability for their forward-looking statements if they comply with the requirements of the Act. |
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