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As of March 2nd 2009 J. Holt Smith resigned as President and Director and Lawrence McQuade resigned as a Director of NNRF, Inc. and Kevin Kading was appointed Director and Chairman of the Board and Lawrence Adams has been appointed to the position of Corporate Secretary effective immediately.
Mr. Smith stated that he and Mr. McQuade believe that it is in the best interests of the shareholders of NNRF for their resignations and appointing Kevin Kading as the Chairman of the Board.
Mr. Kading stated that he would do everything in his power to attempt to bring NNRF's SEC filings current and begin the re-building process of NNRF with the goals of developing a successful business and of restoring, as best as possible, shareholder value.
Mr. Kading has been on Wall Street since the late 1970's and has been instrumental in many restructurings and turnaround situations. He is Founder, President and Chairman of the Board to a publicly traded company that specializes in identifying and acquiring technologies. He then will build companies around the technology that he believes will penetrate multi-billion dollar global markets, where the technology has a unique conducive application and are potentially cost competitive. "I am looking forward to the opportunity to assist in the re-building of NNRF into a viable business opportunity", stated Mr. Kading.
About NNRF, Inc. NNRF provides technologies, either owned or licensed, that are intended for use in nuclear facilities, nuclear and hazardous waste management, and the public health sector.
Forward-Looking Statements
The foregoing, including any discussion regarding the Company's future prospects, contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve numerous risks and uncertainties, including, but not limited to risks and uncertainties associated with economic conditions in the telecommunications industry, particularly in the principal industry sectors served by the Company; risks and uncertainties inherent in the operation of businesses outside the United States; changes in customer requirements and in the volume of sales to principal customers; the ability of the Company to assimilate acquired businesses and to achieve the anticipated benefits of such acquisitions; competition and technological change; and the ability of the Company to control operating costs and maintain satisfactory relationships with existing and potential vendors. The Company's actual results of operations may differ significantly from those contemplated by any forward-looking statements as a result of these and other factors, including factors that may be set forth in the Company's anticipated filings with the Securities and Exchange Commission.
SOURCE: NNRF, Inc.
NNRF, Inc. Kevin Kading, 212-785-6200 kdng@prodigy.net
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