EnerNow Announces the Departure of President & CEO, Eduard Will; Larry Light Appointed Acting President & CEO.Business Editors/Technology Writers BOCA RATON, Fla.--(BUSINESS WIRE)--April 2, 2002 Inprimis, Inc. d/b/a EnerNow, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :INPM INPM International Network on Personal Meaning ), announced today that Eduard Will, 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. , has left the company, effective as of March 28, 2002. Mr. Will has also resigned from the Board of Directors. Larry L. Light, 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. for EnerNow, has been named acting President & CEO for the Company. Additionally, Ener1 Holdings, Inc. the Company's majority shareholder, will provide management support to EnerNow's executive team. Ener1 Holdings provides management support that will allow the Company to operate without a full-time CEO at this stage of the EnerNow business plan. Mike Zoi, President of Ener1 Holdings, said, "We are pleased with the progress made to date at EnerNow. We are working closely with management to meet each business challenge in an effort to solve each issue as quickly as possible. We have several other key initiatives, including the re-branding of the company, increasing the sales effort, and developing joint ventures geared to improving the company's performance." About EnerNow(TM) Inprimis, Inc. d/b/a EnerNow, Inc. (OTCBB:INPM) is based in Boca Raton, Florida Boca Raton ("bōkə rə-tōn") is a city in Palm Beach County, Florida incorporated in May 1925. As of the 2000 census, the city had a total population of 74,764; the 2006 population recorded by the U.S. Census Bureau was 86,396. . The Company has three lines of business: EnerNow Technologies Digital Information & Entertainment Products develops and markets advanced digital media distribution products that provide video & movies on demand, Web access, e-mail and interactive TV services delivered through the television with EnerNow Technologies' Interactive Media Terminals(TM), home media gateways, and other products. EnerNow Technologies products are currently used by companies such as Philips Electronics for AOLTV (America OnLine TV) An Internet TV service from AOL that provides access via a phone line or through the DirecTV satellite from Hughes Electronics. Versions of the AOLTV set-top boxes also include the TiVo technology for digitally recording TV programs. (sm), LodgeNet Entertainment, Skylight Systems, Get Well Network, and KoolConnect Interactive Media. EnerNow Technologies Engineering Consulting Services (TECS) provides software and hardware design and development services for companies in the interactive TV, semiconductor, video, Internet and multimedia industries. Clients include Liberate, National Semiconductor, Conexant, Philips, 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. , Legato Video, Pegasus, and others. EnerWatch(TM) develops products for the monitoring and elimination of the harmful effects of electromagnetic radiation electromagnetic radiation, energy radiated in the form of a wave as a result of the motion of electric charges. A moving charge gives rise to a magnetic field, and if the motion is changing (accelerated), then the magnetic field varies and in turn produces an in power transmission and consumer electronics equipment. For more information, visit the company's Web site at http://www.enernow.com or call 561.997.6227. This release contains forward-looking statements within the meaning of the Federal 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. These forward looking statements involve risks and uncertainties, including, but not necessarily limited to, the change in control of EnerNow and dilution to existing shareholders of EnerNow caused by Ener1's investment, the history of operating losses incurred by EnerNow and its need for additional capital, the receipt of revenue from new contracts, the rate of development of the information appliance market, the successful development and market acceptance of new products and services, the degree of competition in the market for such products and services, competitive pricing practices, dependencies upon key personnel, and low barriers of entry into the software development and services markets. Further, a significant portion of the company's sales is derived from a limited number of customers, the loss of one or more of which could adversely impact operating results. Some of these and other risks are detailed in EnerNow's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2001, as well as in the company's other filings with the Securities and Exchange Commission. Such risks and uncertainties could cause actual results or performance to differ materially from any future results or performance expressed or implied in the forward-looking statements included in this release. |
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