NEW YORK, NY -- (Marketwired) -- 06/19/13 -- Coupon Express, Inc. (OTCQB: CPXP)
Coupon Express today announced the following developments:
The appointment of John M. Devlin Jr. and Charles P. Gardner to its board of directors (further information regarding each of these new directors is below).
In addition, Coupon Express is proud to announce that a major New York based supermarket food cooperative has agreed to begin piloting Coupon Express' kiosks in several of its stores. Based on results in this pilot program, this chain may adopt the Coupon Express kiosks for all its 100 plus locations.
In addition, the customer utilization of our existing kiosks, reached a record in May 2013, achieving a 27% redemption rate.
The Company also notes that NextLevel VIII, its largest shareholder has amended its Schedule 13D to indicate its intention to work in cooperation with management to foster Coupon Express' success.
Alan Schor, Coupon Express' interim Chief Executive Officer, noted:
"With the addition of Mr. Devlin and Mr. Gardner on the board, we have obtained additional depth in the finance and technology areas. Mr. Devlin brings decades of financial and investment experience to the board and Mr. Gardner's technology background will be of great assistance in furthering Coupon Express kiosks' integration with supermarket point of sale systems and to expanding and enhancing Coupon Express' product offerings.
The pilot program by a well-established New York based supermarket food co-op is another significant accomplishment. We see this as validation of the appeal of the Coupon Express kiosk solution to larger chains and we will work cooperatively with this chain to make the pilot a success and foundation for further roll-out.
Along with this pilot program, the increase in redemption rates is also a positive step for our growing company. This should enhance the likelihood of Consumer Packaged Goods (CPG) manufacturers signing contracts for the offering of product coupons with Coupon Express, which is a critical element of our business model. Finally, I am pleased that our largest shareholder has announced its intention to support management as Coupon Express seeks to build out its kiosk network and expand its revenue base. Combined with the addition of our two new board members, the key constituencies of our company are now in alignment and working hard towards growing Coupon Express and making it a great success."
John M. Devlin:
Mr. Devlin has been in the investment and asset management business for over 23 years. Before retiring from J.P. Morgan Investment Management in 2003 after 18 years with the firm, he was a Senior Portfolio Manager for ten years, responsible for directing investment activity, providing pension asset and liability advice as well as tactical and strategic portfolio management for institutional relationships with over $4 billion in assets. Mr. Devlin was also the Committee Chairman for client portfolio guidelines, compliance and performance review for J.P. Morgan accounts with an asset size over $200 billion. Throughout his career at J.P. Morgan, Mr. Devlin worked in all aspects of the investment and asset management business in areas such as fixed income trading and portfolio management.
Mr. Devlin is currently Managing Director of Curragh Capital Advisors, LLC. Prior to this he was Chairman of the American Irish Historical Society where he was responsible for managing day-to-day operations of the Society, including banking relationships, financial reporting, administration, and trustee and fund raising relationships. After retiring from J.P. Morgan, Devlin was the Vice Chairman of McKim & Company LLC, a venture capital source firm for start-up companies in the $1mm to $20mm bracket, where he was responsible for providing strategic planning and direction.
His previous experience included positions at E.F. Hutton, Reynolds Securities and the U.S. Steel Corporation, which included Accounting Manager, Treasury Manager and Corporate Auditor and Consultant. Devlin received an MBA from Pace University and completed his undergraduate degree in Finance at Georgetown University.
Charles P. Gardner:
Mr. Gardner has over 20 years of experience in the IT and Operations arena. Mr. Gardner currently serves as Chief Executive Officer for Innovative Technology Services, a software and support provider for several companies in the Philadelphia area. He is also currently employed by Softgate Systems and is involved in program management. Before that he served as the Chief Operating Officer and Chief Technology Officer of Ameracash Solutions / Softgate Systems where he was responsible for all day to day operations and technology. Ameracash Solutions / Softgate Systems is a leading provider of walk-in bill payment and wireless products serving under-banked communities. During his time at Ameracash he was responsible for growing the company's technology footprint and integrations across various platforms and assisted in overall growth which helped pave the way for a successful sale of the company to Softgate Systems. Prior to joining Ameracash, he served as the Director of IT for DDS Harris which operated as a fulfillment provider for major pharmaceutical companies such as Merck and GlaxoSmithKline. Before joining DDS Harris, Mr. Gardner was a lead developer for the Windows Development Group at Pep Boys with an emphasis on point-of-sale and merchandise, planning and logistics. Previous to Pep Boys, he was in charge of Research and Development for Positek where his work led to the development of that company's cross-platform flagship product and two U.S. patents Mr. Gardner holds a degree in Computer Science with studies at various institutions such as Indiana University of Pennsylvania, Temple University, West Chester University, IBM and Community College of Philadelphia.
Mr. Gardner had key roles in various company turnaround situations and has utilized his acquired skills and experience in driving company growth. His specialties include point-of-sale, financial and supply chain management.
About Coupon Express, Inc.
Coupon Express, Inc. provides innovative interactive customer communications systems and applications that support targeted marketing programs with unique point-of-purchase (POP) services and information that serve shoppers and distributors while building loyalty and revenue for Coupon Express' primary clients. Through its proprietary multifunction kiosks and services, we provide in-store customized couponing, in multiple languages, for immediate impact in regional, independent retailers in the grocery and convenience store industries, enabling retailers to quickly determine ideal price-points for new products and mitigate losses from hard-to-sell items.
Forward-Looking Statements Disclosure
This press release may contain "forward-looking statements" within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company's expected future business and financial performance and often contain words such as "anticipates," "believes," "estimates," "expects," "hopes," "intends," "plans," "seeks," "will," and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct. In connection with the "safe harbor" provisions of the federal securities laws, including the Private Securities Litigation Reform Act of 1995, important factors that, among others, could cause or result in actual results and experience to differ materially from the Company's anticipated results, projections, or other expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements, risks, and uncertainties, and by reference to the underlying assumptions.
Coupon Express, Inc.
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