EST Announces Election
of Directors and Chairman
Monday, May 5, 8:30 am ET
NEWBURY PARK, Calif.--(BUSINESS WIRE)--Electronic Sensor Technology
(EST) (OTCBB:ESNR - News), a leading provider of
innovative homeland security and environmental solutions, announced today that
it has elected Mr. William Wittmeyer and Ms. Maggie Tham to its Board of
Directors. In addition, Dr. Teong Lim,
Founder and Director, has been elected Chairman of the Board. Mr. Wittmeyer and Ms. Tham replace Mr. James Frey and Mr. Francis Chang,
who have retired from the Board.
Mr. Wittmeyer has over 20 years experience
in high-technology business and investment management. In 2003, he and Ms. Tham founded eXS Inc., a wireless access company, developing innovative
and cost effective solutions for developing economics. Prior to founding these companies, Mr.
Wittmeyer was a partner in a venture capital firm, investing in telecommunications
and semiconductor start-ups. He was an
early investor in Network Equipment Technologies Inc., UTSarcom,
Zoran and IXYS. He has a B.Sc. (E.E.) from the Coast
Guard Academy and an M.B.A. from Columbia University Graduate School of
Business Administration.
Ms. Tham has over 20 years experience in
management and strategy consulting. In
2003, she together with Mr. Wittmeyer founded eXS
Inc., a wireless access company, developing innovative and cost effective
solutions, focusing on the mass market in high growth emerging economies. Ms. Tham was a principal of Wittham, a boutique investment banking firm, specializing
in Trans Pacific investments. She raised
early stage financing for UTStarcom and other
companies. Before this, Ms. Tham worked as a strategy and business consultant
in New York City and in Asia. Ms. Tham
is an Economics Graduate of London School of Economics (B.Sc. Econs, Upper Division) and has a M.B.A. degree from the
Columbia University Graduate School of Business Administration.
“We regret the departure of Jim and
Francis”, said Dr. Teong Lim, Chairman, “Both of them were instrumental in setting
the direction of the company when it become public in 2005. They have my respect and gratitude for their
contributions.” Dr. Lim continued, “Mr. Wittmeyer’s and Ms. Tham’s
experience in high-technology, startups, and finance, will be of significant
value to EST’s future.”
About
Electronic Sensor Technology:
Electronic
Sensor Technology develops, manufactures, sells, and supports a product line of
patented chemical vapor analyzers. The
ultra high-speed gas chromatography coupled with a solid-state detector enables
analysis of nearly any odor, fragrance, or chemical vapor within ten seconds.
We believe that the company's product line is strategically positioned to
address key needs of the homeland security market, environmental and quality
assurance applications, and product quality of food and beverage.
SEC
Filings and Forward Looking Statements
Certain
statements in this release, including those relating to revenue expectations;
the company’s plans regarding business and product development; product sales
and distribution; the sufficiency of the company’s resources to satisfy
operation cash requirements; and future capital investment by prospective
investors are forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. These
forward-looking statements may contain the words “believe,” “anticipate,”
“expect,” “predict,” ”hopeful,” “estimate,” “project,” “will be,” “will
continue,” “will likely result,” or other similar words and phrases. Risks and uncertainties exist that may cause
results to differ materially from those set forth in these forward-looking
statements. Factors that could cause the
anticipated results to differ from those described in the forward-looking
statements include, among others, failure to come to terms with prospective
investors, risks related to changes in technology, our dependence on key
personnel, our ability to protect our intellectual property rights, emergence
of future competitors, changes in our largest customer’s business and
government regulation of homeland security companies. The forward-looking
statements speak only as of the date they are made. We do not undertake to update forward-looking
statements to reflect circumstances or events that occur after the date that
the forward-looking statements are made.
Contact:
Electronic
Sensor Technology
Frank Zuhde
(805) 480-1994 X135