White Plains, NY / March 12, 2014 / Debt Resolve, Inc. (DRSV) (the "Company") announced today that Stanley E. Freimuth has been appointed Chief Executive Officer of the Company effective March 1, 2014. In addition, Mr. Freimuth has been appointed to the Board of Directors also effective March 1. Mr. Freimuth has been serving as Interim Chief Executive Officer of the Company since November 1, 2013 through his consulting firm Claremont Ventures, of which he is Managing Member.
Mr. Freimuth stated: "During my tenure as Interim CEO, I was able to determine whether or not there was a path forward for the Company in terms of being able to generate real revenue growth and restructure the balance sheet. I decided to accept the role of Chief Executive Officer because I am now firmly convinced that these and many other improvements are possible and that Debt Resolve can indeed achieve the full potential that its rock solid technology has long promised."
"I am in the process of building a new team and developing partnerships and relationships that will enable us to grow in the markets we serve today, as well as to expand the use of our technology with new products and applications in other market verticals. We are developing a new strategic plan that includes many elements focused initially on generating additional revenue, improving the balance sheet and cash flow."
"The Board of Directors of Debt Resolve is extremely pleased that Stan Freimuth has made the decision to take on this role," said James G. Brakke, Chairman of the Board of Directors. "In the brief time he has spent in his interim position, he has grasped the key elements of Debt Resolve's business, has re-energized the company, and is opening up multiple new initiatives through which the company can grow."
Mr. Freimuth added: "I am a previous investor in the Company and still firmly believe that it offers superior cloud-based software for accounts receivable management, as well as providing financial and healthcare industry payment platforms. We are consulting with industry experts to further accelerate the growth of the business, and some of the new solutions and additional channels for our existing products will be unveiled to the industry and the public in the near future. I am very excited to be taking on the full-time CEO role and look forward to the growth of the Company in 2014 and beyond."
About Debt Resolve, Inc.
Debt Resolve provides lenders, debt buyers, collection agencies, collection law firms and hospitals with a patent-protected online bidding system for the resolution and settlement of consumer debt as well as a collections and skip tracing solution that is effective at every stage of collection and recovery. The company also provides web-based payment platforms for the financial and healthcare industries. The company is publicly held and trades on the OTC Markets under the symbol DRSV. Debt Resolve is headquartered in White Plains, New York.
Certain statements in this press release and elsewhere by management of the Company that are neither reported financial results nor other historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of the Company's operations varying significantly and materially from anticipated results. Debt Resolve undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by SEC rules. Investors are advised to consult any further disclosures made on related subjects in the Company's reports filed with the SEC.
Debt Resolve, Inc.
(914) 949-5500 x210
SOURCE: Debt Resolve, Inc.
Release ID: 35849