Roll the dice play STOA .0063 float 2,800,000
Post# of 579
Roll the dice play
STOA .0063 float 2,800,000
Change of Chief Executive and Financial Officer
On December 20, 2012, Mr. George Yu resigned from his office as the President and Chief Executive and Financial Officer, effective immediately. Mr. Yu’s resignation was not because of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
On December 20, 2012, the Board of Directors of the Company appointed Mr. James Wang, a Director on the Company’s Board, to also serve as the Company’s President and Chief Executive and Financial Officer, effective immediately, to fill the vacancy caused by Mr. Yu’s resignation.
Mr. Wang (age 49) has been a director of the Company since March 1, 2012 and was previously a Managing Director of Soconison Technology Ventures, a venture capital firm focused on technology, media and telecom investments, since October 2003. He is a twenty-five year veteran of technology investing and entrepreneurship and began his career at First Boston as a NASDAQ trader in fledgling companies, incl. Intel, Apple Computer, Microsoft and Lotus Development. He later transitioned to technology investment banking where he arranged over $800 million in funding for companies in semiconductors, data storage and programmable logic. Since the mid-1990's Mr. Wang has worked in Silicon Valley as an angel investor and has also started several companies, including a micro storage device company which was sold to Maxtor, and a Storage Area Networking company that was sold to Lucent. He holds a MS in Computer Science from MIT and a MBA from UCLA.