SOURCE: Coda Octopus Group, Inc.

July 11, 2008 11:23 ET

Faith Griffin and Frank Moore Join Coda Octopus Board of Directors

NEW YORK, NY--(Marketwire - July 11, 2008) - Coda Octopus Group, Inc. (OTCBB: CDOC), a world leader in underwater port security and marine survey technology, announced today the appointment of Faith Griffin and Frank Moore to its Board of Directors, bringing the total number of Board members to five.

"Faith and Frank are both highly experienced and have had accomplished careers in their fields of expertise. They bring invaluable and different knowledge to bear, Faith from the investment banking world, and Frank from the sphere of governmental relations, and I am sure that they will become key members of the Company's Board of Directors as it seeks to guide the Company to greater growth and success," commented Jason Reid, Coda Octopus President and CEO.

Faith Griffin, who will also Chair the Company's Audit Committee, has over 35 years' experience specializing in investment research and financing relating to emerging technology companies, first as analyst and later as investment banker for several investment banking firms, including Faherty and Swartwood, Tucker Anthony, LF Rothschild Unterbeg Towbin, Rodman & Renshaw and Josephthal & Co. Faith is currently a Director of Enherent Corp, a New York based public company in the information technology service and solutions field. She has a BA in Mathematics from Franklin & Marshall College and an MBA in Finance from New York University.

Frank Moore served under President Jimmy Carter from 1977-1981 as Assistant to the President with chief responsibility for relations with Congress, after having served as Chief of Staff to Jimmy Carter during his term as Governor of Georgia. From 1982-1998, Frank was Vice President for Government Affairs and Public Policy at Waste Management. He has worked for Coda Octopus Group, Inc. since May 1, 2006 as Senior Vice President Government Relations. Frank is also a Director of the Company's subsidiary, Colmek Systems Engineering, an engineering contractor in the defense sector. He earned his BBA from the University of Georgia and completed the Advanced Management Program at Harvard Business School.

About Coda Octopus Group, Inc.

Originally founded in 1994 as Coda Technologies, the Coda Octopus Group has grown to encompass five companies and is headquartered in New York. All of the Group companies operate within the technology innovation, product development and engineering services sphere with facilities in Washington D.C., Florida, Utah, New York, the UK and Norway. Alongside providing custom engineering and development to navies, oil and gas, nuclear and medical clients around the world, one of the key products is the Coda Echoscope™ -- the first real time 3D subsea sonar. The Coda Echoscope™ is the heart of the Coda Underwater Inspection System™ being adopted for homeland security in ports around the world and which can be linked to land based surveillance systems utilizing secure wireless communications developed by Innalogic, Inc. With this patent revolutionizing subsea visualization, and the existing systems integration skills within Colmek Systems Engineering and Martech Systems Ltd, the Coda Octopus Group companies believe they are well on the way to becoming the world's leading integrated sonar technology supplier.

For further information, please visit or contact Coda Octopus at

Safe Harbor Statement:

This press release contains certain forward-looking statements. These forward-looking statements can generally be identified as such because the context of the statement will include words such as Coda Octopus Group plans, expects, should, believes, anticipates or words of similar import. Stockholders, potential investors and other readers are cautioned that these forward-looking statements are predictions based only on current information and expectations that are inherently subject to risks and uncertainties that could cause future events or results to differ materially from those set forth or implied by the forward-looking statements. Certain of those risks and uncertainties are discussed in registration statement on Form SB-2 and include, but are not limited to, market acceptance of Coda Octopus' planned products and their level of sales, access to the capital necessary to finance and grow the business, a highly competitive environment in the security field that includes numerous large and well established companies much larger than ours, and our ability successfully to deploy our technologies and products to meet the technical demands and market requirements of our customers. These forward-looking statements are only made as of the date of this press release and Coda Octopus Group does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Contact Information

  • Company Contact:
    Richard Lewis
    (212) 924-3442

    Agency Contact:
    Equity Communications:
    Ira Weingarten
    (805) 897-1880