Cytta Expands World Class Advisory Board
LAS VEGAS, NV--(Marketwired - Feb 25, 2014) - Cytta Corp.
(OTCQB: CYCA) is pleased to announce the addition of two new
members to its world class Advisory Board.
The goal of our Advisory Board
is to access top talent, create collaborative strategies for our
business, and generate profitable avenues for global expansion of
the Cytta Connect mobile platform. The addition of Mr. Chao and Mr.
Woelflein to our Advisory Board builds upon our already talented
team by adding expertise in insurance and healthcare reform and
expertise in international finance and banking.
Mr. Philip Chao is an expert
in evaluating healthcare law changes and its impact on businesses
and institutional entities. As the Principal for Chao &
Company, Philip serves as a benefits consultant to employers who
are striving to balance the needs of the organization and their
employees within a changing economic and regulatory insurance
environment (See Mr. Chao's full information below).
Mr. Kevin Woelflein is an
expert in international finance and in the redevelopment of global
banking relationships to support local initiatives. He is President
of U.S. Capital Investments Company, a bank advisory firm. Mr.
Woelflein has a long history of working internationally. In 1975 he
got his first introduction to Iraq as founding President of an Arab
consortium bank, UBAF Arab American Bank, in New York City. In
2003, he became part of the Iraq/US Coalition Provisional Authority
as Advisor to all of Iraq's nineteen private banks on strategic and
operational issues to recover from the repression of the previous
regime and the destruction of the 2003 invasion. At the present
time, he is Advisor to an Iraq Private Bank, North Bank,
headquartered in Baghdad (See Mr. Woelflein's full information
below).
Cytta Corp.'s mobile health
platform called Cytta Connect is supportive of the recent trend
toward self-managed care and one that is supported by traditional
caregivers, the newly instituted Affordable Care Act ("ACA"), and
healthcare insurance providers.
"We are very excited to expand
our Advisory Board with talented people like Mr. Chao and Mr.
Woelflein," stated Mr. Erik Stephansen, President of Cytta Corp,
adding, "These exceptional leaders in their respective fields are
making a collaborative effort to improve healthcare and reduce
costs at a global level."
About our new Advisory Board
members:
Mr. Philip Chao founded Chao
& Company, Ltd. in 1990 to provide employers and institutions
with the independent and thoughtful advice that would serve as an
alternative to the conflicted, one-size-fits¬ all, prepackaged
solutions among brokers, consultants and investment advisors. He
wanted to make available institutional best practices to help
fiduciaries and clients make prudent decisions. Chao & Company
is an investment advisor registered with the Securities &
Exchange Commission. Mr. Chao is extremely knowledgeable and a much
sought after analysist with regard to the Affordable Care Act
("ACA" or "Obamacare") and will provide Cytta with invaluable
guidance in this complex area.
Philip serves as an ERISA
investment consultant in a co-fiduciary capacity -- as an ERISA Sec
3(21) -- so that clients can rely on his advice with full
confidence. For retirement plan sponsors, he implements a prudent
investment process to meet their fiduciary responsibilities. When
managing defined benefit assets, he also serves as a full fiduciary
under ERISA 3(38). He also acts as the Chief Investment Officer for
the firm's wealth management practice.
As the Principal for Chao
& Company, Philip serves as a benefits consultant to employers
who are striving to balance the needs of the organization and their
employees within a changing economic and regulatory environment. As
the landmark Affordable Care Act is being implemented, Philip has
introduced a proprietary actuarial tool -- Play-or-Pay Decision
Metrics Tool -- to help guide and advise large employers through
this new reality.
Philip acts in the capacity of
an independent directed trustee for ERISA health and welfare trusts
and is a founding member and a governing board member of The
Institute for the Fiduciary Standard. His opinions and thoughts
frequently appear in Investment News, Advisor One and RIA biz. He
is a passionate supporter of and advocate for the fiduciary
standard and has met on many occasions with Department of Labor
staff in sharing his thoughts and practical applications regarding
the ERISA fiduciary redefinition. His public comments to the DOL
can be viewed on the DOL website and on the Securities &
Exchange Commission website.
Philip earned his Certified
Financial Planner (CFP) designation in 1990 from the Certified
Financial Planner Board of Standards, his Accredited Investment
Fiduciary Analyst (AIFA) designation in 2004 from Katz School of
the University of Pittsburgh and the Center for Fiduciary Studies
(Fi360) and Retirement Plan Associates (RPA) designation in 2006
from the Wharton School of the University of Pennsylvania and the
International Foundation of Employee Benefit Plans.
Mr. Kevin Woelflein is an
experienced financial executive with more than 25 years of domestic
and international banking experience in top-level positions.
Woelflein was the founding Vice President and General Manager of
The First National Bank of Chicago branch in Tokyo. First Chicago
appointed him to found the Arab American Bank in New York, where he
served as President and Chief Executive Officer.
Mr. Woelflein's world-class
experience in banking, finance and implementing new technologies
will be invaluable in introducing Cytta's technologies into
business environments where the economic model and ROI will
rule.
Mr. Woelflein was also
President of American Security Bank in Washington, D.C., and
President of The Massachusetts Company, a Boston-based specialty
bank and a subsidiary of Travelers Corporation. Woelflein has had
overall responsibility for managing bank investment portfolios, as
large as $500 million, as a banker, and has been a principal broker
helping banks manage large portfolios. Subsequent to this position,
he served as Chairman of the Board of Connecticut Bancorp. He
currently holds a Series 7 license to sell securities. He is
President of U.S. Capital Investments Company, a bank advisory
firm.
Mr. Woelflein brings
significant credentials to his role of assisting financial
institutions in crafting and implementing the kind of investment
policy they pursue and in analyzing the ongoing results. He is
particularly experienced in assisting institutions to sharpen their
understanding and control of their investments.
Mr. Woelflein is a uniquely
experienced financial executive with more than twenty-five years of
domestic and international banking responsibilities. He has a BS in
Chemical Engineering from MIT and an MBA from Wharton. In 1975 he
got his first introduction to Iraq as founding President of an Arab
consortium bank, UBAF Arab American Bank, in New York City. In
2003, he became part of the Coalition Provisional Authority as
Advisor to all of Iraq's nineteen private banks on strategic and
operational issues to recover from the repression of the previous
regime and the destruction of the 2003 invasion. At the present
time, he is Advisor to one Iraq Private Bank, North Bank,
headquartered in Baghdad with branches in the North.
Mr. Woelflein's background
includes the formation or redevelopment of several financial
institutions. Mr. Woelflein did apply his Chemical Engineering
early in his career, when he was on a three-person team at Atlantic
Refining Company that developed the first computer simulation of a
complete oil refinery, from crude through products. He has received
several major awards from the U.S. Government as well as a MIT
Corporate Leadership Award.
About: Cytta Corp. Cytta
Connect is a Remote Data Capture system connecting Bluetooth
devices to online Electronic Biometric Records (EBR). Our remote
data capture system works over our Special Purpose Network, a
proprietary Global Mobile, Satellite, WiFi open source network, and
Cloud-based data repository, that connects all Bluetooth medical
and wellness devices to Cytta's open source EBR.
Our open source EBR is for use
by patients, doctors, caregivers, health insurers (Professional
Care) with our reprogrammed Cytta smartphones, and any wellness or
fitness user (Consumer) with any Cellular Carrier's smartphone.
Cytta serves two very
significant domestic and international markets:
1) Professional Care: Utilizing
FDA approved Bluetooth peripherals and our specially programmed
unlocked smartphones and provides care for the chronically ill who
need to be remotely monitored. Caregivers have diagnostic
capability using our Instant EBR and secure biometric data
transfers via Cytta's Special Purpose Network. We interconnect
patients, their data and caregivers.
2) Consumer Wellness and Fitness:
Automatically connects all Bluetooth devices and works with any
Mobile Carrier's smartphone and leverages our proprietary Universal
Bluetooth Platform and Instant EBR to support all Wellness &
Fitness consumers.
Forward-Looking Statements
Statements included in this press release, which are not historical
in nature, are forward-looking statements made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Statements relating to the future performance of the
Company are subject to many factors including, but not limited to,
the customer acceptance of the products in the market, the
introduction of competitive products and product development, the
impact of any product liability or other adverse litigation,
working capital and availability of capital, commercialization and
technological difficulties, the impact of actions and events
involving key customers, vendors, lenders, competitors, and other
risks detailed in the Company's Form 10-K for the year ended
September 30, 2012, and other subsequent Securities and Exchange
Commission filings. Such statements are based upon the current
beliefs and expectations of the Company's management and are
subject to significant risks and uncertainties. Actual results may
differ from those set forth in the forward-looking statements. When
used in this press release, the terms "anticipate", "believe",
"estimate", "expect", "may", "objective", "plan", "possible",
"potential", "project", "will", and similar expressions identify
forward-looking statements. The forward-looking statements
contained in this press release are made as of the date hereof, and
we do not undertake any obligation to update any forward looking
statements, whether as a result of future events, new information,
or otherwise.
Contacts: Mr. Stuart Brame VP Corp Information Direct
780-833-4673 Website:
Cytta.com info@cytta.com Investor and Public Relations Contact:
Jens Dalsgaard Principal EraStar, Inc. (702) 480-9800
Website: Erastar.com admin@erastar.com
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