ITEM 9. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT.
The members of our board of directors serve until the next annual meeting of the
stockholders, or until their successors have been elected. The officers serve at
the pleasure of the board of directors. Information as to our directors and
executive officers is as follows:
43.
Name Age Position
___________________________________________________________________________
Jonathan Severn 33 Chairman of the Board, President and Chief
Financial Officer
William Lopshire 40 Chief Executive Officer, Secretary and Director
Charles Salyer 51 Director and President of GlobalTech Leasing
subsidiary
Michael Fisher 40 Director
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The principal occupation and business experience during the last five years for
each of our present directors and executive officers are as follows:
JONATHAN R. SEVERN, Chairman of the Board, President and Chief
Financial Officer. Mr. Severn is a founder of both International Card
Establishment, Inc. and GlobalTech Leasing, Inc. In 1991, he formed Cardservice
Tri-Counties (Oxnard, CA), a credit card merchant acquiring business that he
built into one of the largest agent offices in the U.S. serving Cardservice
International Inc., a large privately held acquirer of Visa and MasterCard
merchant accounts in the country at that time. Cardservice International was
acquired by First Data Corporation in 2001. Mr. Severn was directly responsible
for Cardservice Tri-Counties' growth from start-up to approximately 20,000
merchant accounts and monthly processing revenues in excess of $10 million. In
1996, he founded Lease Technologies International to provide merchants with
lease financing for point-of-sale equipment. Lease Technologies International
was incorporated and its name changed to GlobalTech Leasing, Inc. in 2001.
WILLIAM J. LOPSHIRE, Chief Executive Officer, Secretary, and a
director, also serves as Chief Executive Officer of the Company's International
Card Establishment, Inc. subsidiary. Mr. Lopshire co-founded International Card
Establishment, Inc. with Mr. Severn in 2002, bringing 15 years of diversified
experience in the fields of law, strategic planning, finance, securities, and
technology. He was appointed to his present positions in January 2003. In 1989,
Mr. Lopshire founded the law firm of Lopshire & Barkan (Woodland Hills, CA),
specializing in corporate and securities law. Mr. Lopshire subsequently accepted
a partnership in the law firm of Manning, Marder, Kass, Ellrod & Rameriz (Los
44.
Angeles, CA), where he specialized in corporate finance, securities law, mergers
and acquisitions, and international business transactions. In 1999, Mr. Lopshire
became a principal in a private equity group that invested in, and provided
managerial support to, several developing companies in the U.S. and abroad with
diverse interests ranging from automotive parts to software development. Mr.
Lopshire was graduated from Michigan State University in 1985, with a Bachelor
of Arts degree in Business Administration/ Accounting; and earned his Juris
Doctor degree from Pepperdine University School of Law in 1988. He is admitted
to practice law in California and before the United States Tax Court.
CHARLES W. SALYER, Director, also serves as President of the Company's
GlobalTech Leasing, Inc. subsidiary. Mr. Salyer joined GlobalTech Leasing, Inc.
in 2001, bringing over 27 years of management experience in the equipment
leasing industry; most recently as Vice President, Sales & Strategic Initiatives
for CIT Financial's Lease Finance Group, the largest leasing company in the
point-of-sale equipment market. Mr. Salyer began his management career in 1982
at Digital Equipment Corporation (Maynard, MA), where he rose to the position of
Director of Operations for that company's Customer Finance division. From 1990
to 1993, he served as a Director at Philip Morris Capital Corporation (White
Plains, NY), where he managed a customer and supplier finance division. He left
to accept a position as Vice President, Division Manager for Steelcase
Corporation (Grand Rapids, MI), where he launched a new customer finance
operation. In early 1998, Mr. Salyer became President and Chief Operating
Officer of Global Finance & Leasing, Inc. (Grandville, MI), a micro-ticket
point-of-sale leasing company. Although that company was losing market share at
the time, he restructured the operation and built sales from $8 million to
approximately $24 million in under two years. Global Finance & Leasing was
acquired in 2000 by CIT Financial, and Mr. Salyer accepted the above noted
position with their Lease Finance Group subsidiary. Mr. Salyer was graduated
from Northern Arizona University with a Bachelor of Science degree in 1975, and
earned a Master of Science degree in Public Administration from Northern Arizona
University in 1976.
MICHAEL S. FISHER, Director. Mr. Fisher has over 15 years of sales and
management experience in the electronic payment processing industry, including
involvement in a variety of technology development initiatives and international
sales programs. Mr. Fisher began working in the industry in 1987 as a Sales
Manager for Peripheral Resources, Inc. (Los Angeles, CA), a distributor of
point-of-sale equipment; and, rose to the position of President before leaving
45.
in 1995. From 1995 to 1998, he was a Regional Sales Manager for Cardservice
International, Inc. (Moorpark, CA). While at Cardservice International he was
responsible for management and sales training of more than 30 ISOs and more than
doubled sales in a one-year period by establishing in excess of 18,000 new
merchant accounts. In 1998, Mr. Fisher joined E-Commerce Exchange, Inc. (Irvine,
CA), a provider of credit card processing services and e-commerce websites,
where he rose to the position of Executive Vice President. While at E-Commerce
Exchange sales increased from $8.8 million to $29.9 million in 18 months. Since
2001, he has been a General Partner at Acquiring Solutions (San Marino, CA), a
credit card processing services and credit card risk management and compliance
consulting company; and, since January 2002, Mr. Fisher was formally President
of WorldWide Gift & Loyalty, Inc. (Oxnard, CA), the company that he co-founded
that developed the smart-card based gift/incentive purchase card system licensed
by International Card Establishment, Inc. Mr. Fisher was graduated from Harvard
College in 1984 with a Bachelor of Arts degree; and, is fluent in Mandarin
Chinese. He is a member of several industry organizations, including the
Electronic Transaction Association (ETA), and the International Association of
Financial Crimes Investigators (IAFCI).
The officers and directors may be deemed parents and promoters of the Company as
the Securities Act of 1933 defines those terms, as amended. All directors hold
office until the next annual stockholders' meeting or until their death,
resignation, retirement, removal, disqualification, or until their successors
have been elected and qualified. Officers of the Company serve at the will of
the board of directors.
There are no agreements or understandings for any of our officers or directors
to resign at the request of another person and none of the officers or directors
are acting on behalf of or will act at the direction of any other person.
Audit Committee Financial Expert.
The Company does not currently have an Audit Committee or Financial Expert
thereon.
Section 16(a) Beneficial Ownership Reporting Compliance.
Based upon a review of Forms 3, 4 and 5 filed pursuant to Section 16(a) of the
Exchange Act, a Form 3 required as a result of the Plan and Agreement of
Reorganization by and between iNetEvents, Inc. and International Card
Establishment, Inc. was not filed on a timely basis by Jonathan Severn; William
46.
Lopshire; and Michael Fisher. A Form 3 required by Charles Salyer and Form 4
required by Jonathan Severn as a result of the Plan and Agreement of
Reorganization by and between International Card Establishment, Inc. and
GlobalTech Leasing,Inc. was not filed on a timely basis. All required forms
referenced above have been filed as of April 30, 2004, with the exception of the
Form 3 required by Michael Fisher.
Code of Ethics.
The Company has not currently adopted a Code of Ethics.
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