Beacon Enterprise Solutions Group Inc (OTC:BEAC) today announced that the company has expanded his leadership team.
Beacon Enterprise, an emerging global leader in the design, implementation and management of high performance Information Technology Systems infrastructure solutions, appointed Michael L. Martin, age 39, as the Executive Vice President, Global Services.
Mr. Martin who holds a Bachelor of Science with High Honors in Naval Architecture and Marine Engineering from the United States Coast Guard Academy, brings along leadership experience of over 16 years. He used to guide teams across a broad range of positions as an officer in the U.S. Coast Guard, as well as with Fortune 500 and small- to mid-cap companies.
He brings a unique blend of technical skill, combined with strong background in operational business development and execution that will help drive Beacon’s continued growth.
Looking at the company’s fundamentals, the company reported fiscal 2011 revenue of $18.89 million, as compared to $14 million last year. Net income for fiscal 2011 was $3.22 million, as compared to a year earlier loss of $18.55 million.
Last year during the month of October, the company had initiated a private placement of up to $4,500,000 of 12 month Senior Secured Notes, bearing interest at 13% APR. The Placement will be made on a “best efforts” basis with a Minimum of $500,000 and a Maximum of $4,500,000. As of March 1, 2012, the Placement concluded with approximately $4,200,000 being raised.
The shares of the company fell 8.33% and closed at $0.165 in the previous trading session. The 52 week trading range for the company is $0.14 – $0.51.
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