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Ubiquity Appoints Members to Board Committees in Preparation for NASDAQ Uplisting

Company continues to take necessary steps to complete future exchange listing

IRVINE, Calif., Aug. 6, 2014 /PRNewswire/ -- Ubiquity, Inc. (OTCBB: UBIQ), a technology development and licensing company that holds an extensive portfolio of patents across multiple technology market verticals, today announced the appointments of members to its Audit, Compensation, and Governance and Nomination Board Committees, in preparation for its upcoming NASDAQ up-listing.

"We are focused on meeting the remaining requirements necessary for Ubiquity to uplist to the NASDAQ," stated Chris Carmichael, Chief Executive Officer and Chairman of Ubiquity. "We believe that being listed on a major exchange will not only promote liquidity and awareness of the Company's story as an investment consideration, but will validate the market potential for our technology and the value of our extensive family of patents. By executing these appointments and establishing these meaningful board committees comprised of three of our experienced and insightful Directors, we are one step closer to becoming a NASDAQ listed company."

The Board Committee appointments are as follows:         

Audit Committee

  • Webb Blessley, Chair 
  • Nicholas Mitsakos        

Compensation Committee

  • Nicholas Mitsakos, Chair 
  • Webb Blessley 
  • James Nelson   

Governance and Nomination Committee

  • James Nelson, Chair
  • Nicholas Mitsakos

Mr. Blessley, Mr. Nelson, and Mr. Mitsakos are all currently serving as Directors on Ubiquity, Inc.'s Board.

Webb Blessley has 30 years over 30 years of experience in corporate, venture capital and real estate acquisitions. In 1995, Mr. Blessley retired from McDonald's Corporation as Vice President of Real Estate and Construction Worldwide. Webb founded the Ronald McDonald Camp for Children at Eagle Lake and recently helped found the Cougar Fund to promote the preservation of the North American Cougar. An architectural engineer by education, Mr. Blessley has since returned to his architectural roots upon his retirement and now works as a contact source in alternative building and solar powered technology.

Nicholas Mitsakos currently serves as the Chairman and Chief Executive Officer of Arcadia Holdings, Inc. and as a director of Meru Networks. Mr. Mitsakes is also the Co-Founder of Meru Networks, Inc., and served as its Chief Financial Officer. Nicholas serves as an advisor to several technology and pharmaceutical companies, and has served as a Director and Chief Executive Officer at multiple companies. Nick started his career at Goldman Sachs in 1985, and worked at Drexel Burnham Lambert until 1989.

James Nelson was appointed to Ubiquity's Board of Directors in April 2014 and has served as a director and member of the audit committee of Icahn Enterprises since June 2001. He has also served as a director and member of the Audit Committee's for several companies including Pacific Energy Resources Ltd, Cequel Communications, and Take Two Interactive Software, Inc. Mr. Nelson was also formerly the Chairman and Chief Executive Officer of Eaglescliff Corporation, a boutique investment banking and wealth management firm.

About Ubiquity, Inc.

Based in Irvine, CA, Ubiquity is a vertically integrated, technology-focused media company. Ubiquity is focused in five specific areas with a robust portfolio of patents and intellectual property. The Company has developed an intuitive user interface making access to all content from any device in a simple, consistent format. Ubiquity enables the search and identification of any object and image in all video and digital media and has developed a platform for mobile transaction including the integration of payments, money transfers, coupons and gifts. Ubiquity has also developed an industry-leading, intuitive, immersive consumer experience for all web-based activity. Finally, the company allows for the personalization of all content, whether public or private, in a unique accessible way.

Through Ubiquity Labs we are leveraging an extensive portfolio of intellectual property spanning Web 3.0, immersive advertising, video compression, content distribution, eCommerce, and mobile applications to support the commercialization of new technologies. In addition, we intend to pursue strategic licensing opportunities.

Information about Forward-Looking Statements

This press release contains "forward-looking statements" that include information relating to future events and future financial and operating performance.  The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements.  Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved.  Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for the Company's products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in the Company's filings with the United States Securities and Exchange Commission. An example of such forward looking statements in this press release include statements regarding the Company developing and completing successful new car projects. For a more detailed description of the risk factors and uncertainties affecting Saleen Automotive, please refer to the Company's recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

KCSA Strategic Communications
Todd Fromer / Phil Carlson
[email protected] / [email protected]
212-896-1215 / 212-896-1233

SOURCE Ubiquity Inc.

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