Englewood, CO -- (ReleaseWire) -- 02/09/2017 --AlumiFuel Power Corporation (OTCMKTS:AFPW) ("AlumiFuel" or the "Company"), is pleased to announce that Ryan Schadel has been appointed as the Company's President and Chief Executive Officer. Mr. Schadel is known for his hands-on management style, active engagement with shareholders, and seeks to unlock shareholder value.
On February 3, 2017, stockholders holding 56% of the voting shares of the Company's capital stock outstanding, elected Ryan Schadel to the Company's Board of Directors. Mr. Schadel was subsequently appointed to serve as the Company's President and Chief Executive Officer.
Mr. Schadel brings 20 years financial management, sales and leadership experience to the Company. Beginning in 2011, Mr. Schadel founded Labor Smart, Inc., growing the company from startup to over $24 million in annual revenue in just 36 months. Mr. Schadel has a total of 17 years experience in the temporary staffing industry. Prior to founding Labor Smart, Mr. Schadel served as Vice President of a mid-sized private investment firm and was responsible for management of a $318 million asset portfolio. Mr. Schadel is an active investor and serial entrepreneur. Throughout his career, Mr. Schadel has participated in over a half dozen startups and executed a number of corporate takeovers and acquisitions.
Mr. Schadel commented, "Since the passing of Mr. Fong, there have been a lot of questions about the uncertain future of AlumiFuel, its business interests, and its shareholders. As a large shareholder myself, I look forward to addressing those questions in short order and presenting a game plan that benefits all stakeholders in the Company. Consistent with my fundamental beliefs, I can definitively say there will be no plans in the foreseeable future for a reverse split. There is a terrific opportunity for shareholders as we work to turn this Company around."
Going forward the Company intends to rely on various social media channels, in addition to traditional communication mediums, to communicate with investors. Mr. Schadel believes in open, active, and transparent interaction with shareholders. Investors, the media, and others interested in developments at the Company are encouraged to review the information we may post from time-to-time on the following social media channels:
Alumifuel Twitter Feed: www.twitter.com/AFPW_IR (@AFPW_IR)
Alumifuel CEO Twitter Feed: www.twitter.com/CRyanSchadel (@CRyanSchadel)
Alumifuel CEO Periscope: www.periscope.tv/CRyanSchadel (@CRyanSchadel)
About AlumiFuel Power Corporation
AlumiFuel Power Corporation (OTCMKTS:AFPW), operating through its wholly owned subsidiary, NovoFuel, Inc., is an early production stage alternative energy company that is pursuing hybrid renewable energy systems for a number of backup power applications. The NovoFuel brand includes a new line of high capacity lithium-ion batteries as well as patented and proprietary technology that generates hydrogen gas through the chemical reaction of aluminum powder, water, and proprietary additives. The Company recently formed a new subsidiary, Energy Staffing Solutions, Inc., and has entered the temporary staffing industry.
Safe Harbor for Forward-looking Statements
This news release may contain forward-looking statements that are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, they are based on management's current beliefs and assumptions as to future events. However, since the company's operations and business prospects are always subject to risk and uncertainties, the forward-looking events and circumstances discussed in this news release might not occur, and actual results could differ materially from those described, anticipated or implied. For a more complete discussion of such risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.
CONTACTS:
Ryan Schadel
AlumiFuel Power Corporation
641-715-3900 x385402
Source: Uptick Newswire