ConSyGen Appoints Bruce Shirey as Its New President and CEO.Business Editors TEMPE, Ariz.--(BUSINESS WIRE)--Oct. 30, 2001 ConSyGen, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CSGI CSGI Common Spatial Gateway Interface ) announced today the appointment of Bruce Shirey as its new President 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. . Mr. Shirey replaces Mr. Robert Reisch and Mr. Anthony Perre. Prior to starting his own consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a , Mr. Shirey spent five years as Senior Vice President, Internet & Payment Solutions for CARDSERVICE INTERNATIONAL. He developed the company's first secure Internet Payment Gateway along with several software payment interfaces. He designed and developed an industry-first online merchant account application process that provided automated merchant approval, unattended configuration and setup on the gateway servers and hosted eCommerce applications. This end-to-end system currently supports over 36,000 merchants, millions of transactions and close to a billion dollars in processing volume per year. He also formed key relationships and strategic partnerships with AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. , EarthLink, Hewlett Packard, MasterCard, Microsoft, Netscape, Breakthrough Software, CyberCash, Miva, and many other well known entities. Howard R. Baer, Chairman of the Board of Directors stated, "The last month with Perre and Reisch on board was a very trying time for the Company. I believe we are in better shape because of their departure than we were with them on board." Mr. Baer further stated, "Shirey, a close associate of Perre and Reisch, felt that he had made a commitment to CSGI and would honor that commitment. Mr. Shirey's experience and management qualifications in the Internet Payment field makes him the perfect candidate to lead the company forward with its BizPay technology. Although ConSyGen still has a tough road ahead, with Mr. Shirey's direction, I believe the Company's prospects are better now than they have been in the past year." Messrs. Reisch and Perre, who joined CSGI with Mr. Shirey, resigned less than two months after coming on board, due, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. them, to "Company and personal financial challenges". The Company believes that, at the time they joined the Company, Reisch and Perre fully understood the financial challenges then confronting the Company. Reisch and Perre expressed a willingness to assist the Company on a consulting basis, but only if the Company made substantial and immediate cash payments to them, which the Company was not in a position to make. In addition, Reisch and Perre indicated they were willing to rejoin re·join 1 v. re·joined, re·join·ing, re·joins v.tr. To say in reply, especially in sharp response to a reply. v.intr. To reply. the Company as officers and directors, subject to the Company raising $2.5 million and paying each of them $30,000 for assisting the Company in raising capital. The Company has rejected their demands and accepted their resignations. ABOUT CSGI Established in 1996 as a high-technology software development and R&D company, ConSyGen, Inc. has focused its business on providing innovative and superior commerce solutions worldwide. The primary CSGI product lineup A criminal investigation technique in which the police arrange a number of individuals in a row before a witness to a crime and ask the witness to identify which, if any, of the individuals committed the crime. includes the Counterfeit To falsify, deceive, or defraud. A copy or imitation of something that is intended to be taken as authentic and genuine in order to deceive another. A counterfeit coin is one that may pass for a genuine coin and may include a lower denomination coin altered so that it may Cop(TM) and BizPay(TM). FORWARD-LOOKING STATEMENTS 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. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those projected in such forward-looking statements. Factors which could affect results include the development of competing or superior technologies, market awareness, acceptance of ConSyGen's technology or products, the company's ability to attract and retain qualified personnel, the company's ability to protect its proprietary information, and other risk factors set forth in the company's SEC filings. |
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