FOR IMMEDIATE RELEASE
GLOBAL VR® BOARD APPOINTS KEN BAYER AND PATRICK IMESON AS CORPORATE HEADS
SAN JOSE, Calif – (June 5 2008) – GLOBAL VR today announced that it has made two appointments to fill the positions of President and Chairman of the Board vacated last week by former company head Jim DeRose. Company veteran Ken Bayer will assume the leadership position of company president, while continuing his current role as Executive Vice President, Operations. Additionally, Patrick Imeson, Managing Director of GLOBAL VR’s financial backer, Black Diamond Financial Group, LLC, will assume the responsibility of Chairman of the Board.
Ken Bayer began his career with GLOBAL VR in 1999 as Vice President of Operations after having spent 15 years in high-technology management. Since that time, Ken has overseen the engineering and manufacturing of almost 30 products and has helped to elevate GLOBAL VR’s position in the coin-op industry making it a leader in coin-operated video entertainment. When asked for comment about his new role, Ken commented, “Being a part of GLOBAL VR for over 8 years has given me both experience and insight. GLOBAL VR, with our strong line-up of products and seasoned management team, will continue to deliver outstanding products for players and provide excellent financial returns for operators and distributors.” He went on to say, “GLOBAL VR is committed to the coin-op industry and to the people who have invested confidence in our organization.”
Patrick Imeson, GLOBAL VR’s Chairman of the Board and Managing Director of Black Diamond Financial Group, LLC, located in Boulder, Colorado, has been a part of GLOBAL VR’s board of directors for many years. “GLOBAL VR has assembled a world-class organization capable of producing some of the most innovative and exciting products in the out-of-home entertainment industry,” Patrick commented. “We are confident that the company will continue to deliver on its promise of high quality games and that it is uniquely poised to leverage its talent and relationships to further the company’s business interests.”
Jim DeRose, former company President, CEO and Chairman of the Board, announced his resignation on May 30th for personal reasons after spending 3 years in the leadership role. During that time, GLOBAL VR enjoyed commercial success with products such as Aliens™ Extermination and EA SPORTS™ NASCAR® Racing. Additionally, Jim was instrumental in establishing new pricing and warranty policies that have become standard in the coin-op industry.
About GLOBAL VR: Founded in 1998 and headquartered in San Jose, California, GLOBAL VR® is one of the world's leading manufacturers of coin-operated video games based on home gaming technology. Through the development of proprietary technology, GLOBAL VR is able to leverage the massive investment in development of PC and console games by third party developers by making them suitable for play in out-of-home locations. Development agreements are in place with some of the world's leading game publishers including Electronic Arts (NASDAQ: ERTS ), Ubisoft, and Atari (NASDAQ:ATAR). These agreements provide GLOBAL VR rights to create coin-op versions of popular home games such as EA SPORTS™ PGA TOUR® GOLF, Need for Speed Carbon, Underground, NASCAR, Blazing Angels, Beach Head and Operation Blockade. In addition, GLOBAL VR also develops and manufactures products previously marketed under the UltraCade label, including Global Arcade Classics and Ultrapin. More information on GLOBAL VR can be found at www.globalvr.com.
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