(MENAFNEditorial)
New York - Phantom Fiber Corp. (OTC Markets.com: PHFB) Effective immediately Kevin H. Kading will step down as President/CEO and Chairman of the Board for personal health reasons.
Mikhail Geller has been appointed as interim President/CEO of the Company. Mr. Kading has stated that he will work closely with the new President in connection with the transition. Mr. Geller has been in various senior positions in the financial sectors since the early 2000's. "Mr. Geller has a proficient background in finance and is a welcomed addition to the Phantom Fiber team" stated Kevin Kading. Mr. Geller holds a Bachelor of Arts degree from Colgate University.
Further the Company has elected Mr. Luther H. Hodges Jr. to the PHFB Board of Directors. Mr. Hodges is currently an owner/manager of Santa Fe Hospitality and the Hotel Santa Fe. Moreover he manages two (2) closely held investment partnerships. He is a director of Homeowners of America Insurance Corporation Dallas TX. He was chairman of Washington Bancorp the parent company of National Bank of Washington. Mr. Hodges served in various management positions at the North Carolina National Bank (now Bank of America) and was Chairman of the Board.
With regard to the Chairman of the Board seat the Company has several very successful candidates to fill the Chairman seat and expects a decision to be made.
About Phantom Fiber Corporation
Phantom Fiber Corporation . (OTC MKT: PHFB) owns and operates business solution companies. The Company intends to grow revenue by acquisitions growing its sales innovating technologies and strategically leveraging services such as its merchant services alternative lending web design and development printing and CRM solutions for small to mid-sized businesses in the United States. The Company maintains offices in NYC and NJ. Further information is available at www.phantomfibercorp.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. Any statements contained in this press release that are not statements of historical fact may be deemed forward-looking statements. Words such as "continue" "will" "may" "could" "should" "expect" "expected" "plans" "intend" "anticipate" "believe" "estimate" "predict" "potential" and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include without limitation whether the Company's pending acquisition of Advanced Merchant Group will be finalized whether Phantom Fiber Corporation can secure any additional financing and if such additional financing will be adequate to meet the Company's operational and growth objectives. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements many of which are generally outside the control of Phantom Fiber Corporation and are difficult to predict. Examples of such risks and uncertainties include but are not limited to: (i) Phantom Fiber Corporation's ability (or inability) to obtain additional financing in sufficient amounts or on acceptable terms when needed; (ii) Phantom Fiber Corporation's ability to maintain existing and secure additional contracts with users of its business solutions payment processing services printing services CRM Solution; (iii) Phantom Fiber Corporation's ability to successfully expand in existing markets and enter new markets; (iv) Phantom Fiber Corporation's ability to successfully manage and integrate any acquisitions of businesses solutions or technologies past and present; (v) unanticipated operating costs transaction costs and actual or contingent liabilities; (vi) the ability to attract and retain qualified employees and key personnel; (vii) adverse effects of increased competition on Phantom Fiber Corporation's business; (viii) changes in government licensing and regulation that may adversely affect Phantom Fiber Corporation's business; (ix) the risk that changes in consumer behavior could adversely affect Phantom Fiber Corporation's business; (x) Phantom Fiber Corporation's ability to protect its intellectual property; (xi) local industry and general business and economic conditions; Additional factors and unforeseen circumstances that could cause actual results to differ materially from those expressed or implied by the Company and its management. Phantom Fiber Corporation anticipates that subsequent events and developments may cause its plans intentions and expectations to change. Phantom Fiber Corporation assumes no obligation and it specifically disclaims any intention or obligation to update any forward-looking statements whether as a result of new information future events or otherwise except as expressly required by law.
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