XnE, Inc.

October 01, 2009 08:00 ET

XnE, Inc. Appoints a New CFO

SAN JUAN CAPISTRANO, CA--(Marketwire - October 1, 2009) - XnE, Inc. (PINKSHEETS: XNEZ) is pleased to announce the appointment of Todd Vowell to the Company's Board of Directors and as Chief Financial Officer. Mr. Vowell will become the second member of the Company's Board and brings with him over two decades of experience in start-up businesses as well as management for several firms.

Mr. Vowell is a Southern Utah native and graduated with a Bachelors degree in Accounting from the University of Utah Business School. He has been a licensed CPA for over 15 years, and has many years of experience in business start-ups, acquisitions and mergers. While employed with Arthur Andersen during the early 1990s, Mr. Vowell obtained significant business experience working with publicly held companies and IPOs. Mr. Vowell has been the President of the St. George Roadrunners since December of 2007 and continues to consult for numerous companies in Utah.

Michael Cummings, XnE, Inc. Chairman and Chief Executive Officer, commented on the appointment of Mr. Vowell, saying, "We are very pleased to welcome Todd to our Management Team and Board of Directors and view his appointment as being very positive for our company as well as our shareholders. Todd's desire to participate in enhancing shareholder value combined with his successful experience in business makes him especially well suited to join our Team."

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About XnE, Inc.

XnE, Inc. is part of the "FASTEST GROWING FAMILY SPORT IN AMERICA and that is MINOR LEAGUE BASEBALL." Over 50 million people attend minor league baseball games each season. In 2004 through 2008, minor league baseball drew more total fans to their games than the NBA, NFL and NHL combined and minor league teams are now in or near 100% of the top 50 US cities.

Minor league baseball appeals to families who appreciate its ability to entertain at a reasonable price. A family of four can go to the game including tickets, snacks and parking for around $40. Minors' average ticket price is $6, Major League Baseball is $18, NBA is over $41 and the NFL is over $50. In a recent survey, 81% of respondents said they want to spend more time with family and 51% said baseball is the way to do it.

FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the Sports and Entertainment industry; the positioning of XnE in the market; ability to integrate acquired companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether XnE can successfully gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.

Contact Information

  • Contact:
    Michael Cummings