Dana Allen Elected Chairman of Struthers, Inc.Business Editors CHARLESTON, S.C.--(BUSINESS WIRE)--Dec. 15, 2003 Struthers, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : STRU STRU Structure ) announced that its Board of Directors elected Dana Allen to serve as its new Chairman at a special meeting held yesterday. In his capacity as Chairman of the Board, Mr. Allen will be responsible for overseeing the rebuilding process that is already well underway within the Company. Only one week ago, the shareholders elected Mr. Allen to serve on its five-member board at a Special Meeting of Shareholders. For the first time, the Struthers, Inc. Board contains a majority of outside directors. In addition to his duties as Chairman of the Board, Mr. Allen is currently 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. of American Investigator Television and is involved in several other business and investment activities. Upon his election, Board Members commented, "Dana brings a tremendous list of accomplishments and experience to the table. In addition to his many skills, and his proven ability to convert visions into reality, Dana brings a sense of cohesiveness to our Board that inspires us all to do more. We look forward to working together in the new year on behalf of our shareholders." Dana Allen's Prior experience includes: Product Manager and Data Developer Manager for Triad Systems: Was one of the primary designers of the Triad Electronic Catalog system, the first successful computerized auto parts cataloging system, which has commanded a 50% + market share for over 10 years and is the flagship software/data product of Triad Systems (a public company at that time $150 million in sales). Mr. Allen also developed the quality control system for the product, and was credited with saving the company over $2 million through increased productivity as a result of this and other systems. Founder, CEO, President and Chairman of Sequoia Data Corporation: Founded the first pure E-commerce company which went to market in 1989 with CompuMarket(R), a product quite similar to today's eBay (Nasd: EBAY). In 1991 shifted the company to OCR/Scanning related software due to the market not being ready for E-commerce at that time. Went to market in 1991 with ScanFix(R) which became the leading image enhancement See image editing. software on the market with 75%+ international market share. In 1992 won Imaging Magazine's "Product of the Year Award" with ScanFix. Well over 1,000,000 units have been sold. In 1994 and 1995 Sequoia Data posted 75%, then 85% sales growth, and operated at 24% then 36% pre-tax profits respectively (as audited by KMPG). Mr. Allen managed both marketing and product development while CEO of Sequoia Data. Merged Sequoia Data (at a valuation of over $5 million) into TMS TMS Transcranial Magnetic Stimulation (alternative medicine for depression) TMS Test Match Special (sports - cricket) TMS Texas Motor Speedway TMS Transportation Management System TMS Toyota Motor Sales , Inc. (a public company) in 1996 to form TMSSequoia (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : TMSS TMSS Transportation Management Services Solution (US GSA) TMSS Technical Manual Specifications & Standards (US DoD) TMSS Trailer Mounted Support System (US DoD) ). Director and Executive Vice President, 1996 to 1997: Chairman, 1998: Chairman, CEO, and President, 1999, TMSSequoia (OTCBB: TMSS) Accomplishments; In 1998-99 Mr. Allen received 8 U.S. Patents for inventions related to computerized image enhancement and optical character recognition optical character recognition (OCR), method for the machine-reading of typeset, typed, and, in some cases, hand-printed letters, numbers, and symbols using optical sensing and a computer. . Negotiated an OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and and co-marketing agreement with CAERE Corp. (the OCR OCR in full optical character recognition Scanning and comparison technique intended to identify printed text or numerical data. It avoids the need to retype already printed material for data entry. market leader) to include ScanFix in their OmniPage product. In 1999 Mr. Allen conceived and designed the first software product to do high speed color dropout/conversion of scanned color images, SpectrumFix(R). This product won Imaging Magazine's "Best Of Show" Award in 1999. Co-Founder and Chairman, 1998 to 2000, NewsMax.com: NewsMax.com, founded in 1998, quickly become a major player in the Internet news business achieving a web traffic rate of over 1.2 million monthly visitors, in the first 15 months of operations. It was voted Best Internet News Site in an 11/99 Deja.com user survey. NewsMax.com has raised over $11 million in capital and revenues are now over $6 million annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. . In 2003 NewsMax ranked as the 16th most visited news site in USA. Visit our Website at: http://Struthers-inc.com Investor Relations: Investor.Relations@Struthers-inc.com |
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