BURNABY, BC, Jan. 18, 2012 /CNW/ - ESI Entertainment Systems Inc. ("ESI" or the "Company") (CNSX: ESY). It is with great sadness that
the Company reports the tragic and untimely death of Anthony Greening,
its Chairman and CEO, on Sunday, January 15, 2012.
As a consequence of the death of Mr. Greening, Michael Meeks has been
appointed as Chief Executive Officer, and Christopher H. Freeman has
been appointed as Chairman of the Board of Directors.
As a result of the sad loss of Mr. Greening, the Company anticipates
that it will be unable to meet its originally scheduled filing of the
interim unaudited consolidated financial statements for the Third
Quarter ended November 30, 2011, the Management's Discussion and
Analysis for the Third Quarter and relevant CEO and CFO Certifications
within the time prescribed by securities regulations, namely January
30, 2012. Management has taken steps to resolve the difficulties, and
believes that as a result it will be able to file the interim unaudited
consolidated financial statements, MD&A and CEO and CFO Certifications
for the Third Quarter ended November 30, 2011, by February 10, 2012.
The Company has made an application to the British Columbia Securities
Commission, as its Principal Regulator, for issuance of a Management
Cease Trade Order pursuant to National Policy 12-203, and intends to
comply with its obligations to satisfy the provisions of the
alternative information guidelines as set out in National Policy 12-203
for so long as it remains in default
ESI is not the subject of any insolvency proceeding.
There is no other material information that has not been generally
About ESI Entertainment Systems Inc.
ESI Entertainment Systems Inc (CNSX: ESY) is an idea generation and
software development company. We develop concepts, create prototypes,
establish partnerships and validate potential markets. When we have
proven a product and its opportunities we create subsidiaries with a
dedicated team, infrastructure, and resources to allow it to focus on
building and selling the product to its market niche. Our team of
experienced and dedicated people have led us to be revolutionary market
leaders in many industries, including e-commerce payment technologies,
hardware based input devices, real time auditing systems, transaction
processing systems, graphical 3D displays, ecommerce web services, and
payment fraud and risk mitigation.
SOURCE ESI Entertainment Systems Inc.
For further information:
ESI Entertainment Systems Inc.
Chief Executive Officer
Telephone: (604) 299-6922 Ext 228