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metapower international inc (MTPR) Key Developments

MetaPower International, Inc. Announces Executive Changes

MetaPower International, Inc. announced staff layoffs. Included in the layoffs are the President and CEO, Rande Bruhn and Executive Vice President of Business Development, Edwin Gibson. However, Bruhn and Gibson will continue to serve the Company as members of its Board of Directors and Mr. Gibson will continue as the non-executive Chairman of the Board of Directors. Bruhn and Gibson will also continue some of their work for the Company as consultants. The total number of employees laid off is fourteen. The current Chief Operating Officer, John E. Prouty, has been elected as the President and Chief Executive Officer of MetaPower International, Inc. effective April 22, 2014. Mr. Prouty was also elected President and Chief Executive Officer of the Company's wholly owned subsidiary, MetaPower, Inc., and its wholly owned subsidiary, MetaPower Canada Ltd., both also effective April 22, 2014.

MetaPower International Announces Management Changes

MetaPower International, Inc. announced that Rande Bruhn has been elected President and CEO. The board of directors also elected Mr. Bruhn President and CEO of its wholly owned operating subsidiary, MetaPower, Inc. and the MetaPower, Inc. wholly owned subsidiary, MetaPower Canada Ltd. Mr. Bruhn also been elected to the Board of Directors of all three Companies. Mr. Bruhn is a seasoned entrepreneurial business executive and owner with over 30 years of general operational and financial management experience in businesses of varying size, complexity and nature. Mr. Bruhn is replacing Edwin G. Gibson, Jr. as President of the Company. Mr. Gibson has relinquished his title of President in order to be elected to be Chairman of the Board of Directors for all three MetaPower companies. In this capacity he will lead all three Boards and supervise the management of all three companies on behalf of the stockholders of the Company. At the same time Mr. Gibson has also been elected to be the Executive Vice President of Business Development for all three MetaPower companies.

MetaPower International, Inc. Announces Leadership Changes

MetaPower International, Inc. announce that Margaret A. "Peggy" Allen has been elected to the Board of Directors. Allen is the widow of the Company's founder, Kenneth R. Allen, who passed away in January, 2013. The Board of Directors also made certain changes in its officers and the officers of its wholly owned operating subsidiary, MetaPower, Inc. The Board elected Stephen C. Ivy to be the Company's Chief Financial Officer. Mr. Ivy previously served as Vice President of Finance since the Company's founding in 1996. The Board also elected Mrs. Allen to serve on the MetaPower, Inc. Board of Directors and elected Mr. John E. Prouty, who is the Chief Operating Officer of the Company, to also be the Chief Operating Officer of MetaPower, Inc. At the same time Stephen C. Ivy was installed as the Chief Financial Officer of MetaPower, Inc.

MetaPower International, Inc. Reports Audited Earnings Results for the Year Ended December 31, 2012; Provides Earnings Guidance for the Year 2013

MetaPower International, Inc. reported audited earnings results for the year ended December 31, 2012. For the year, the company's revenues were $16,543,771, which was under the company's goal by 2.68%. The company's EBITDA was $933,378, which beat the company's goal by 16.67%, all of which was all generated from operations. The company provided earnings guidance for the year 2013. The company expects 2013 to continue this pattern of growth and development as a company. The company has established revenue goals for 2013 of $17 million with an expected EBITDA of greater than $600,000.

MetaPower International, Inc. Announces Executive Appointments

MetaPower International, Inc. announced that Edwin G. Gibson, Jr. has been elected as the President of the company, effective on February 11, 2013. The Board of Directors also elected John E. Prouty to be the company's Executive Vice President. This will allow Mr. Prouty to continue to focus on the development of the Company's proprietary technology and the development of the company's products. He has over 35 years of Information Systems experience. He will assume the duties of Ken Allen, who passed away very unexpectedly, on January 29, 2013. Mr. Gibson comes to his new position with extensive experience both in the company, and before joining the company.

 

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