PALO ALTO, CA--(Marketwired - Feb 11, 2014) - ePunk, Inc. ("ePunk" or "the Company") (PINKSHEETS: PUNK) today announced that it has acquired 100% of Blink Technologies, Inc., a Silicon Valley-based consumer technology solutions company ("Blink Technologies"), in a stock-for-stock transaction. The shares to be issued to Blink Technologies shareholders will represent approximately 55% of ePunk's equity after consummation of the transaction.
Under the terms of the agreement, ePunk will issue 24 million shares of ePunk, Inc. restricted common stock to Blink Technologies shareholders in exchange for 75 million shares, or 100% of the outstanding common stock of Blink Technologies. The transaction closed on February 10, 2014.
At the Closing of the Share Exchange Agreement, Sean Clarke will resign from the position as acting Chief Executive Officer of the Company, and Dean Miller will be appointed as Chief Executive Officer and Steve Dowdell as Chairman. Mr. Clarke will resign as a director of the Registrant effective following the expiration of the required ten (10) day notification period under Regulation 14f-1 of the Securities Exchange Act of 1934, which notice shall be effected by the mailing of an Information Statement to shareholders. At the effective time of Mr. Clarke's resignation, Robert Gilbert will be appointed as director of the Company.
Dean Miller said that, "We are pleased to have completed this transaction, and believe that as a publicly traded company, we will have a tremendous opportunity to accelerate our business and growth plans while driving shareholder value."
Incoming Management Team
Dean Miller, CEO and Director - Mr. Miller has over 30 years of experience as a successful manager and entrepreneur. Mr. Miller has achieved success primarily in technology industries, including computer software, hardware, peripherals, and services. Mr. Miller has helped build and manage startup and mature operations, including teams at Digital Research, Symantec Corporation, Hitachi PC, and FieldSync Mobile Solutions. He holds a Bachelor of Arts Degree from Michigan State University in Communications and Marketing.
Rob Gilbert, Director - Mr. Gilbert has over 30 years of experience as a successful entrepreneur. Mr. Gilbert has achieved success in many industries including insurance and financial services as well as restaurant and hospitality. Mr. Gilbert has managed, owned and operated a number of successful restaurants, including the award winning Chowderheads Restaurant Group in New England, and Café Bluefish in Ft Lauderdale. He's currently a Senior Agent Manager at HealthMarkets Insurance, a successful full service Insurance brokerage firm. He holds a Bachelor of Science Degree from Bentley University in Business Administration and Marketing.
Steve Dowdell, Chairman - Mr. Dowdell has over 30 years' experience as an entrepreneur and manager. Mr. Dowdell has been a high achiever in computer technology ventures by successfully bringing semi-conductor, wireless and consumer electronic solutions to market. Mr. Dowdell contributed to the teams of Texas Instruments, Taarcom, Cypress Semiconductor, LSI Logic and Alcatel.He holds a Bachelor of Science Degree in Mechanical Engineering from the University of Rhode Island.
Any statements that are not historical facts contained in this release are "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends, " "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or required licenses, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date the statements were made, and the companies do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.
About Blink Technologies, Inc.
Blink Technologies is based in Silicon Valley and is focused on delivering consumer technology solutions that enhance and expand the experiences people enjoy every day, while using essential electronic devices such as smartphones, tablets, and TVs.