DeMarco Energy's President to Take a Voluntary Cut in Salary.Business Editors & Energy Writers AUSTIN, Texas--(BUSINESS WIRE)--July 30, 2002 President & 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 DeMarco Energy Systems of America Inc., (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DMES DMES Deployable Mobility Execution System ), will voluntarily take a 66% cut in salary. This move will be retroactive as of April 1, 2002. The actions being taken by DeMarco are in light of the current economic climate and to accelerate the timing of the Company's goal of achieving operating profitability. "The company is poised to make several positive strides in the very near future," states Victor M. DeMarco, President and CEO. "It is my intent to hasten the pace by not burdening the company too early in the game." The DeMarco Energy Miser is a patented geothermal heating Geothermal heating has been used since Roman times as a way of heating buildings and spas by utilizing sources of hot water and hot steam that exist near the earth's surface. and cooling system cooling system: see air conditioning; internal-combustion engine; refrigeration. cooling system Apparatus used to keep the temperature of a structure or device from exceeding limits imposed by needs of safety and efficiency. , producing savings of 50-70% in commercial, institutional and industrial applications. The Energy Miser uses the thermal properties of municipal water mains, reuse water or any other managed water supply. In January of 2002 DeMarco Energy Systems announced the addition of traditional ground loop installations as an added benefit to its business scope as well as the acquisition of Baker's Filter Services, a commercial filter replacement business. This News Release may contain forward-looking statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc future results, performance, plans, events or other matters. Words such as "potentially," "will," "anticipates," "believes," "plans," "expects," "future," "intends" and similar expressions are used to identify these forward-looking statements. Such statements involve numerous risks and uncertainties, including, but not limited to, risks and uncertainties pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to development of the company's products and services and markets for such products and services, the timing and level of customer orders, competitive products and services and pricing, changes in economic conditions and the markets for the Company's products and services and other risks and uncertainties. Actual results, performance and events may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this News Release. DeMarco financials can be found in its filings with the Securities and Exchange Commission, which can be accessed at www.sec.gov. |
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