Artificial Life CEO Resumes CFO Position
09 Décembre 2011 - 11:00PM
Artificial Life, Inc. (OTCPK:ALIF), an innovative investment
Company, announced today the assignment of its current CEO Eberhard
Schoneburg to resume its former position as Chief Financial
Officer.
The Board of Directors of Artificial Life has unanimously voted
to assign Eberhard Schoneburg, the current Chief Executive Officer
and Chairman, to also assume the Company's Chief Financial Officer
position to more efficiently implement the Company's new business
model. Mr. Schoneburg had served in the position as CEO since 1998
and in the position as both Chief Executive Officer and Chief
Financial Officer of the Company already from November 2002 to July
2010.
"I am satisfied with our restructuring efforts over the past few
months and the achieved fixed cost reductions. We will cut down
costs even more by closing our Berlin office by end of this year.
My plan and goal is to make 2012 a strong and successful come-back
year for the Company with its new investment business model. This
also means and requires a more efficient and leaner management
structure. That's why I am willing and determined to take on and
resume additional responsibilities to make things work faster. We
have to switch from cost cutting and downsizing back to doing new
business. Deals like we just signed with top toy maker WowWee are
the way to go forward for us and our Alife Studios. Good leading
edge investments and monetizing on our valuable assets have to
follow for Alife Inc.," said Eberhard Schoneburg, CEO of Artificial
Life, Inc.
"Mr Schoneburg is the right man at the right time for the
Company to achieve a fast turn around for our shareholders in the
coming year. After all, he is the key shareholder of the Company.
He also has personally recently invested substantially in the
Company again which shows his commitment and determination. He is
not just a hired manager. He needs no additional motivation. His
interests are best aligned with the interests of our shareholders.
And he has all it takes to get the Company back on track: the
experience, the skills, the necessary knowledge and contacts in the
industry and the drive to efficiently implement the new business
model," said Dr. Gert Hensel, Member of the Board of Directors and
Chairman of the Independent Audit Committee of Artificial Life,
Inc.
The former CFO of the Company, Frank Namyslik, resigned
effective December 5, 2011.
About Artificial Life, Inc.
Artificial Life, Inc. is a new kind of investor. We act as a
global incubator and business network provider and facilitator for
our investment companies, assisting them in their funding efforts,
sales, production, and general business development activities.
When needed, we also inject our valuable intellectual property into
our investment companies for their use. We invest mainly in the
BRICS (Brazil, Russia, India, China and South Africa) markets with
a focus on smartphone content and wireless technology such as: near
field communication, mobile business apps and games, mobile health
services, social networking apps and games, and mobile commerce. We
have won many industry awards for outstanding technology and
products in prior years.
Artificial Life, Inc. is a Delaware registered corporation
founded in 1994 in Boston. We are a public US entity (OTCPK:ALIF).
Our global headquarters is in Hong Kong.
For more information on ARTIFICIAL LIFE, INC., please visit:
www.artificial-life.com
The Artificial Life logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=1669
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. Such forward-looking statements include, without
limitation, statements regarding our future results of operations,
financial condition and business prospects. In some cases, you can
identify forward-looking statements by terminology such as "may",
"will", "should", "expect", "intend", "plan", "anticipate",
"believe", "estimate", "predict", "potential", "continue" or the
negative of these terms or other comparable terminology. Although
such statements are based on our own information and information
from other sources we believe to be reliable, you should not place
undue reliance on them. These statements involve risks and
uncertainties, and actual market trends or our actual results of
operations, financial condition or business prospects may differ
materially from those expressed or implied in these forward looking
statements for a variety of reasons. Potential risks and
uncertainties include, but are not limited to: the general economic
conditions in the markets in which we operate; the success of our
newly adopted business model and strategy; our ability to find
investment targets for reasonable conditions; the economic
conditions in the BRICS nations; our ability to sell equity or
assets and intellectual property; our ability to obtain additional
funding to operate and grow our business and to do investments;
changing consumer preferences and uncertainty of market acceptance
of our products; timely adoption and availability of broadband
mobile technology; market acceptance for use of mobile handheld
devices; our reliance on a relatively small number of clients and
brands; our ability to license brands from others; our dependence
upon resellers and telecommunication carriers and operators to
distribute our products; our ability to successfully develop,
introduce, and sell new or enhanced products in a timely manner;
and the timing of new product announcements or introductions by us
or by our competitors. For additional discussion of these risks and
uncertainties and other factors, please see the documents we file
from time to time with the Securities and Exchange Commission,
including our Annual Report on Form 10-KSB filed on August 2nd,
2011. We assume no obligation to update any forward-looking
statements, which apply only as of the date of this press
release.
CONTACT: Artificial Life IR and PR Contact:
Tel: (+852) 3102 2800
ir@artificial-life.com
Artificial Life (CE) (USOTC:ALIF)
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