Network 1 Financial Group Inc., Announces Appointment of New President and CEO
January 11 2011 - 11:32AM
Marketwired
Network 1 Financial Holdings, Inc. (OTCBB: NTFL), today announced
that the Board of Directors has elected Damon D. Testaverde, the
President and CEO.
The board also approved the issuance of 6.2 million shares of
common stock as additional compensation for his efforts in
performance of these additional duties.
Mr. Richard Hunt, the current CEO, will remain Chairman of the
Board and concentrate his efforts in new business development. Mr.
William Hunt, the current President, will remain Chief Operating
Officer and concentrate his efforts in business operations and
management.
Mr. Testaverde said, "With the vast changing Global Economic
Environment, unique investment opportunities present themselves. I
believe we have an opportunity to assist public companies with
their investment banking needs in new and exciting ways. There is a
substantial void in the capital formation process for many public
companies. Network 1 has the expertise and experience to help fill
that void."
Network 1 Financial Group, Inc. is a holding company for Network
1 Financial Securities, Inc., a FINRA member broker/dealer that
provides investment services to high net worth individuals and
institutional investors and investment banking services.
For further information: Damon D. Testaverde CEO 800-886-7007
www.Network1Financial.com
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