BOCA RATON, FL--(Marketwire - Apr 1, 2013) - DubLi, Inc. (PINKSHEETS: DUBL), a global marketing company that provides consumers around the world with a variety of innovative, online shopping and entertainment opportunities, today announced that David W. Sasnett has been appointed to the Company's Board of Directors. In addition, Blas Garcia Moros has been named Chairman of the Board, replacing Niel Burtenshaw Thuesen who resigned to focus on personal and professional interests. As such, the composition of the Company's Board remains unchanged with three independent directors.
David W. Sasnett, age 56, has served as a director of Consolidated Water Co. Ltd. since December 2004 and since June 2006 has served as Consolidated Water Co. Ltd.'s Executive Vice President and Chief Financial Officer. In 2005 and 2006, Mr. Sasnett was the Chief Financial Officer of VoIP, Inc., a publicly-traded provider of communication services utilizing voice over internet protocol technology. During 2004, he was the Vice President of Finance and Controller for MasTec, Inc., a specialty contractor and infrastructure provider traded on the New York Stock Exchange. Mr. Sasnett was the Chief Financial Officer of Catalina Lighting, Inc., a publicly-traded manufacturer and distributor of residential lighting and other consumer products from 1996 to 2002. Mr. Sasnett's experience also encompasses more than 12 years with the auditing and consulting firm of Deloitte & Touché, LLP. Mr. Sasnett has been named Chairman of DubLi's Audit Committee. Mr. Sasnett has a BSc in accounting from the University of Florida.
Michael Hansen, President and Chief Executive Officer of DubLi, stated, "David is the consummate financial professional with significant Board experience working with public companies. It is with great pleasure that we welcome him to DubLi's Board and look forward to his contributions."
Blas Garcia Moros spent 15 years at Microsoft Corporation, from May 1985 until February 2000, where he was one of the founders of Microsoft Latin America. Mr. Moros held numerous positions during his tenure at Microsoft, including positions in Latin America and Asia, as well as the Company's headquarters in Redmond, Washington. His last position at Microsoft, from September 1997 to February 2000, was based in Singapore as the Regional Director South Asia and President, Microsoft Regional Sales Corporation (Asia), where he was responsible for the management and leadership of the region which encompassed all countries within Southern Asia, including India, Indonesia, Thailand, Philippines, Vietnam, Malaysia and Singapore. Since leaving Microsoft, Mr. Moros has been a private investor in a variety of businesses, and is currently an advisor to and a member of various advisory boards of several private companies, primarily in the technology sector. Mr. Moros speaks four languages and holds a Bachelor's degree in Business Administration from the University of Innsbruck, Austria.
Mr. Hansen continued, "Blas has tremendous experience building and managing businesses around the world which will continue to be invaluable to DubLi as we grow and develop our global business strategy. He understands the DubLi business model, the development process and how to successfully enter new markets both from operational and marketing perspectives. His contributions, leadership, commitment and dedication to DubLi over the last two years have been unparalleled making him the natural choice to succeed Niels Burtenshaw Thuesen. During his tenure as DubLi's Chairman, Niels played a valuable role in establishing our corporate governance and code of conduct protocols. His interests in both his family business and new professional position made it difficult for him to continue dedicating the necessary amount of time to DubLi as we enter this important phase in our company history. We thank him for his service and wish him well in his future endeavors."
About DubLi, Inc.:
DubLi, Inc. (PINKSHEETS: DUBL) (formerly MediaNet Group Technologies, Inc.), through its wholly-owned subsidiaries under the DubLi brand, addresses consumer needs both online and offline through innovative engagement models, as well as virtual shopping experiences. Through its DubLi.com website, the company also creates tremendous opportunities by helping entrepreneurs both large and small create micro-distributor organizations by joining Dublinetwork.com. DubLi's main focus is to provide consumers around the world with a great online value for their shopping and entertainment opportunities. The foundation of DubLi was built upon an innovative business concept, a global presence and a consumer-centric business model that seeks to capitalize on global economic trends and changing consumer behaviors. The central hub of the DubLi, Inc. universe is DubLi.com, a comprehensive online shopping and entertainment community. DubLi Network is the sales and marketing engine for DubLi.com that is driven by a marketing network of Business Associates who use word-of-mouth advertising, the most effective form of direct selling, to sell a variety of memberships and packages that generate traffic to DubLi.com. DubLi Partner offers a white-label version of its DubLi.com platform giving participating organizations a professional, reliable web presence while providing access to DubLi's global online shopping and entertainment community. BSP Rewards, also known as DubLi Shopping, is responsible for the management and operations of DubLi's Shopping Mall platforms around the world. DubLi is emerging as a leading provider of innovative shopping and entertainment solutions to consumers in over 100 countries.
Additional information about the Company is available in its filing with the Securities and Exchange Commission at www.sec.gov.
Except for historical matters contained herein, statements made in this press release are forward-looking. Without limiting the generality of the foregoing, words such as "may," "will," "to," "plan," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue" or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements.
Investors and others are cautioned that a variety of factors, including certain risks, may affect our business and cause actual results to differ materially from those set forth in the forward-looking statements. These risk factors include, without limitation, the risk of (i) an inability to establish and/or maintain a large, growing base of productive business associates; (ii) an inability to develop and/or maintain brand awareness for our online auctions; (iii) a failure to maintain the competitive bidding environment for our online auctions; (iv) a failure to adapt to technological change; (v) a failure to comply with governmental laws and regulations applicable to our business; and (vi) a failure to maintain our internal controls. The Company is also subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended September 30, 2011.