HENDERSON, NV--(Marketwired - Dec 19, 2013) - Co-Signer, Inc. (OTCQB: COSR), announced today that its Board of Directors has appointed Mr. Kurtis Kramarenko as the new CEO effective December 16, 2013. Mr. Kramarenko, 51, is an accomplished businessman whose career has spanned several business sectors, primarily the financial and pharmaceutical industries. As diverse as his career has been, Mr. Kramarenko's broad career experience has produced a comprehensive set of attributes and is noted for a unique blend of executive acumen and team building skills. These attributes are combined with a history of strategic solution development that include the realignment of product and company margins which result in a strong improvement of operations and return on investment (ROI). The Company believes Mr. Kramarenko's addition positions Co-Signer with the leadership to expand its business and improve equity performance and the overall value for Co-Signer's shareholders.
"The Board is looking forward to a long and productive relationship with Mr. Kramarenko leading the Company. His experience and energy will drive the Company's expansion in sales, help reduce costs and maximize overall ROI. His professional career brings a unique and valuable ability to champion a new company with a relatively new service within the real estate industry, something he has accomplished before. He knows how to build a team and establish a brand," said Darren Magot, outgoing CEO and Director for the Company. Mr. Magot continued, "When I first accepted the position as CEO one of my primary objectives was to find a person with a different yet complimentary skill set to replace me to lead the Company to the next level. As I continue my role as a Director I am confident in our selection of Mr. Kramarenko. I am also excited for our shareholders as the Company continues to build momentum by adding talented new members to its team and capitalizing on its unique position in the marketplace."
The Company noted many accomplishments and highlights in Mr. Kramarenko's career including achieving various milestones while receiving company and industry awards. During his tenure at the international pharmaceutical company, Tap Pharmaceuticals Inc., Mr. Kramarenko repeatedly led the company in sales nationwide eclipsing all previous sales goals. Mr. Kramarenko has the unique experience of successfully launching and bringing several new drugs to market and helping to grow market share. As Chief Investment Officer at Mutual Savings Bank, a regional institution with total assets of over $1.2 B, he managed their $750 MM portfolio. As apart of the Asset/Liability Committee his risk management skills resulted in a savings of almost $8 million dollars to the bank. The Company believes Mr. Kramarenko's familiarity with the financial markets should provide management and investors alike the confidence that he will deliver both revenue and new investment in the Company.
"I am excited about my new role with Co-Signer, Inc., and the opportunities in front of us. I look forward to applying my knowledge and experience to help further the growth of our client base, adoption of our service product and escalate revenues. This experience affords me the opportunity to apply my skills and perspective to a business with a tremendous growth potential while providing a genuine service to our clients. I look forward to improving the Company's fundamentals and secure strategic capital to finance the company's growth into a recognized leader in the real estate services industry," stated Mr. Kramarenko.
Mr. Kramarenko will report directly to the Board of Directors for Co-Signer, Inc. and will work directly with the management of the Company's wholly-owned subsidiary, Co-Signer.com, the nation's premier provider of residential rent assurance, to expand its current network of property managers already accepting the Company's services.
Mr. Kramarenko is a graduate of Michigan State with a BS in Business Administration with an emphasis in Finance, Marketing and interpersonal communications. He has also participated in post graduate studies for Business at Central Michigan University and Princeton University.
In related news, Mr. Magot resigned as President, CEO, Treasurer and Chairman of the Board while maintaining his position as Director.
For those interested in more information regarding any topics presented in this press release, they are encouraged to reference the 8K report filed with the SEC today.
For landlords, property managers and tenants seeking more information about the Company's subsidiary that provides residential rent assurance commonly known as rent guarantees, please visit www.Co-Signer.com or email Steve@Co-Signer.com.
About Co-Signer, Inc.
Co-Signer, Inc. is a financial and real estate services company. Its wholly-owned subsidiary, Co-Signer.com, Inc. is the nation's premier commercial provider of residential rent assurance services offering rental guarantees on behalf of tenant clients to landlords, property managers, leasing agents and others that may be responsible for residential leasing. Co-Signer.com, Inc. provides its fee based tenant service to those who may have no, poor or bad credit due to a short sale, a bankruptcy, inconsistent employment, a long-term health issue or other circumstances. Typically these tenants are able to afford the rental payment for the new residence they seek. However, superficially their credit scores and financial profile do not readily qualify them with the prospective landlord. Cosigning services are available whether the tenant seeks a single family home, condominium, townhouse, or apartment anywhere in the United States. Co-Signer.com, Inc. uses a proprietary underwriting process with state of the art information services to achieve low default ratios that maximize company profitability.
The Company's business strategy is to make the use of commercial rent assurance the U.S. industry standard by focusing its resources and market awareness efforts on landlords and property managers, educating them on the simplicity and value of the Company's service that facilitates housing for tenants and maximizes occupancy rates and cash flow for landlords. With almost 39,000,000 rental units in the United States and 1 out of every 4 adults having poor or bad credit, the demand for commercialized cosigning services provides a real growth opportunity.
Forward-looking & Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company cautions that these forward-looking statements are further qualified by other factors. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.