Dana A. Marshall Joins Ionatron, Inc. as Chief Executive Officer; Thomas Dearmin Assumes Role of Vice Chairman; Appointment Adds Strong Industry Leader to Laser Guided Energy Company.TUCSON, Ariz. -- Ionatron, Inc. (Nasdaq: IOTN IOTN Index of Orthodontic Treatment Need (UK) ), a Laser Guided Energy (LGE LGE LG Electronics LGE Local Government Employers (UK) LGE Laser Guided Energy LGE Louisville Gas & Electric LGE Loop or Ground-start, Exchange (Newbridge) (TM)) company, developing next generation Directed Energy An umbrella term covering technologies that relate to the production of a beam of concentrated electromagnetic energy or atomic or subatomic particles. Also called DE. See also directed-energy device; directed-energy weapon. Weapons, today announced that Dana A. Marshall has joined Ionatron, Inc. as President, Chief Executive Officer, and a member of Ionatron's Board of Directors. Thomas Dearmin, a co-founder of the Company, will assume the role of Vice Chairman and continue to serve as an executive and director assisting to develop and implement strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. initiatives. Mr. Marshall is a seasoned business executive with more than 20 years experience with laser and optics technologies in the aerospace and defense industries. During this period, he was Chief Executive Officer and President of Cutting Edge Optronics Optronics, or optoelectronics in its less abbreviated form, is the science and technology making use of optics and electronics. It is sometimes synonymous with photonics, however the latter has a lesser emphasis on electronics. , a company he founded and turned into a leading developer and manufacturer of high power solid state and semi-conductor lasers before selling it to TRW TRW The Real World (TV reality show) TRW The Right Way TRW Tactical Reconnaissance Wing TRW The Retriever Weekly (University of Maryland, Baltimore, MD) TRW Thompson Ramo Wooldridge Inc , Inc. (now operating as a division of Northrop Grumman Northrop Grumman Corporation (NYSE: NOC) is an aerospace and defense conglomerate that is the result of the 1994 purchase of Grumman by Northrop. The company is the third largest defense contractor for the U.S. Corp.). Prior to founding Cutting Edge Optronics, Mr. Marshall was Program Manager of Lasers and Electronic Systems Division of McDonnell Douglas McDonnell Douglas was a major American aerospace manufacturer and defense contractor, producing a number of famous commercial and military aircraft. It merged with Boeing in 1997 to form The Boeing Company. Corporation, where he was responsible for leading program development, engineering and production for military and industrial laser projects. Mr. Marshall started his career at General Dynamics General Dynamics Corporation (NYSE: GD) is a defense conglomerate formed by mergers and divestitures, and as of 2006 it is the sixth largest defense contractor in the world[1]. The company has changed markedly in the post-Cold War era of defense consolidation. Corporation, where his responsibilities included Special Planning Manger manger cattle trough which served as crib for Christ. [N.T.: Luke 2:7] See : Nativity for its missiles, electronic lasers and submarine divisions, the strategic and operating plan for the Quincy Shipbuilding Division and integration of that company's laser systems division. Most recently, Mr. Marshall was responsible for operations, growth and performance of four high-tech operating units while serving as Vice President, Optical Systems SBU SBU St. Bonaventure University (St. Bonaventure, New York) SBU Stony Brook University (State University of New York) SBU Southwest Baptist University (Bolivar, MO) of Zygo Corporation Zygo Corporation (NASDAQ: ZIGO)is a company that specializes in optical systems & equipment for areas such as optical metrology. Zygo's metrology systems are based on optical interferometry measuring displacement, surface figure, and optical wavefront. , a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. . The Chairman of Ionatron's Board of Directors, David Hurley David Hurley is a countertenor in the King's Singers, an a cappella vocal group. Born in 1962, he started singing in 1970 when he won a place in the Winchester Cathedral Choir. His voice dropped to countertenor at age 13. noted, "Following an extensive search process that was assisted by Heidrick & Struggles, Ionatron is most pleased to welcome Mr. Marshall to lead Ionatron as President and Chief Executive Officer. "Dana has extensive experience managing the development and commercial application of laser and optics technologies which we consider of critical importance to enable Ionatron to realize its full potential as an innovative Laser Guided Energy company. He combines accomplishment in both large and small growth companies and brings a detailed understanding and demonstrated accomplishment in technologies and industries relevant to Ionotron's developing products and partnerships. "Dana has the ability to successfully develop and implement strategic plans and implement the commercial programs and agreements that bring new products based on innovative technologies to market," said Mr. Hurley. "Dana's background includes an extensive and detailed perspective on the strategic planning and weapons systems development processes for the defense industry that the Board sought in a 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. for the next phase of Ionatron's growth." Mr. Marshall stated "I am excited about this opportunity to lead Ionatron as its CEO. I am eager to continue the progress and excellent work accomplished during the Company's brief but successful period since its formation and look forward to the continued strategic assistance and inputs of Tom Dearmin as Vice Chairman. I plan to move the Company to the next level, enhancing and leveraging the various technology development projects and strategic alliances, and finding new applications for our core technologies and spin-off products derived from those technologies. "Laser Guided Energy Technology has the potential to provide paradigm shifting weapons for our country's military and provide significant new options and systems for law enforcement, facility security, and other needs in ways that can save lives while providing protection. I welcome the opportunity to work with Ionatron, a leader in this field, to realize the potential and build lasting stockholder value in the process." Mr. Marshall's appointment concludes a systematic process in response to Mr. Dearmin's request as a founder and significant shareholder to place a seasoned defense industry professional as CEO to lead the next phase of the company's growth. "The Board of Directors is confident of Ionatron's direction with the leadership responsibility continuing under such a capable and accomplished business executive as Dana Marshall," concluded Mr. Hurley. "Dana's considerable management experiences over an extensive career in the laser and optic, and aerospace and defense industries provide the vision, knowledge and skills needed to guide Ionatron to future success. "The Board is also very pleased that Mr. Dearmin will continue his important service to the company in the role of Vice Chairman. Tom is a visionary who has been instrumental in the development and advancement of Ionatron's core LGE, LIPC LIPC Hepatic Lipase (gene) LIPC laser-induced plasma channel LIPC Livestock Industry Promotion Corporation (Japan) LIPC Long Island Planning Council (Wantagh, Long Island) technologies and its counter-IED and vehicle-stopping technologies." Mr. Dearmin was enthusiastic about the appointment, stating "Now that Dana is assuming the day-to-day operations of Ionatron, I will be able to focus my efforts on further enhancing the application of our core technologies into commercial products and scan both the defense and commercial arenas for new applications and opportunities for Ionatron's technologies and capabilities. "I am very satisfied that the succession effort that I requested earlier this year has resulted in the engagement of someone with Dana's background and experience. I look forward to assisting him in building on our initial success and firmly establishing Ionatron as a leader in the laser and defense industries." As part of his compensation package, Mr. Marshall received an inducement grant of a stock option to purchase up to 800,000 shares of Ionatron common stock with an exercise price of $6.30, the fair market value at the close of the market on August 17, 2006, and annual vesting as to 25% of the shares covered thereby commencing one-year from the commencement of his employment. The option grant is outside of the Company's 2004 Stock Incentive Plan in accordance with Nasdaq Marketplace Rule 4350(i)(1)(A)(iv), because the grant is being made as an inducement method to Mr. Marshall, entering into employment with Ionatron. About Ionatron Inc. Ionatron, Inc. is a solution provider that develops and markets Laser Guided Energy (LGE(TM)) and related products to defense and security customers for unique applications worldwide. Ionatron has significant expertise in the application of high-power lasers, optics and energy management technologies. Headquartered in Tucson, Arizona Tucson (pronounced /ˈtusɑn/, Spanish: Tucsón [tuk'son] , Ionatron is focused on solving technology problems directly for its government and security-conscious customers. For more information about Ionatron, please visit www.ionatron.com. "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. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 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. 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. Ionatron undertakes no obligation to update any forward-looking statements contained in this news release. |
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