Dallas, Texas - February 29, 2016 - Ciao Group, Inc. (CIAU) today announced a change of control. The company filed an SEC Form 8K disclosure statement to make the details of change of control publicly available:
Simultaneously with the appointment of Aubrey Brown as a Director and Chief Executive Officer of the Company and the resignation of Eugenio Santos as a director and officer of the Company, Eugenio Santos transferred his 10,000 shares of Preferred Stock held in the Company as described in our 8-K filing on January 15, 2016. Mr. Brown is now the sole officer and director of the Company. The Company will effect a name change as soon as practicable to NuMelo Technologies, Inc. and request NELO as the new ticker symbol.
Aubrey Brown comes to the CEO position with vast, senior level, experience managing innovative technology development and implementation in North an South America. Mr. Brown was the CEO of NewMarket Latin American with operations in Brazil, Chile, Colombia, Honduras and Venezuela. He previously founded Corsa Network Technologies, Inc., a systems integrator located in the San Francisco Bay Area. His senior level technology leadership experience includes serving as the Chief Operating Officer of Allied Telesyn, a manufacturer of networking products with $200M in annual revenue. Mr. Brown also served as VP of Sales and Marketing for NetVantage, Inc., VP of Sales with Centrum Communications, and Director of Sales with Synoptics Inc. Mr. Brown began his career as an engineer and has held engineering positions with RCA Corp., Burroughs Corp., Sun Microsystems and Modular Computer Systems.
About Ciao Group, Inc. (Pending Name Change To NuMelo Technologies, Inc.)
In conjunction with a recent change of control, Ciao Group is transitioning under new management to leverage its regional expertise and presence within the telecommunications market in Brazil to refocus on the acquisition and development of disruptive telecommunication technologies within Brazil at first and then throughout South America with further plans to expand globally into frontier and emerging markets everywhere.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, among other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.