RICHMOND, British Columbia, April 10 /PRNewswire-FirstCall/ -- SmarTire Systems Inc. , a provider of active tire pressure and temperature monitoring systems for the global commercial or truck, bus, recreational vehicle, and off highway vehicle markets, announced today that it has named David A. Dodge as its interim Chief Financial Officer. Mr. Dodge, 33, previously served as Vice President and Chief Financial Officer of NeoMedia Technologies, Inc. , a publicly traded software development company, from 2002 to 2007. Before joining NeoMedia, Mr. Dodge was an auditor with Ernst & Young LLP. Mr. Dodge holds a B.A. in economics from Yale University and an M.S. in accounting from the University of Hartford, and is also a Certified Public Accountant. Mr. Dodge replaces Jeff Finkelstein, who served in the role since 2002 and left to pursue a new opportunity. Additionally, on March 28, 2008 the company held its annual general meeting in Vancouver, British Columbia, Canada. All resolutions were passed by shareholder vote except for the three special resolutions related to the consolidation of shares, which did not receive the required number of votes. "We remain focused on the strategic goals we have set for ourselves and building the value of the company through the successful completion of those initiatives," stated Dave Warkentin President and CEO. "I am pleased by the support of our shareholders and share their desire to see the company grow and exploit the value of the technology we have invested in developing and bringing to market." For more information, visit http://www.smartire.com or contact Michelle Lamm, Walek & Associates at mlamm@walek.com. About SmarTire SmarTire develops and markets proprietary advanced wireless sensing and control systems worldwide under the SmartWave(TM) trademark. The company has invested more than $100 million in R&D for its patented tire monitoring technology. It developed numerous patent-protected wireless technologies and has advanced tire monitoring solutions since 1987. SmarTire offers large fleet, commercial, bus and recreational vehicles patent-protected, before- and after-market wireless technologies and advanced tire-monitoring solutions using its proprietary SmartWave platform. The platform provides a foundation for the addition of multiple wireless sensing and control applications. Initial product releases using the SmartWave platform include the SmartWave(TM) TPMS, which leverages on SmarTire's background and knowledge in tire monitoring solution. SmarTire Systems maintains operations in North America and Europe. For more information about SmarTire Systems Inc., visit http://www.smartire.com. Except for historical information, this news release contains forward- looking statements that involve substantial risks and uncertainties. When used in this news release, the words "expects," "may," "intends," "plans", anticipates, "likely", "believes" and similar expressions can be used to identify forward-looking statements. Forward-looking statements are based on current facts and analysis and on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results, performance, or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. Forward-looking statements in this press release include the SmarTire's statement that in order to meet its profitability objective it needs to remain tightly focused on increasing revenue; that we have taken the necessary steps to reduce costs and keep them under control; that we have booked sales orders which was approximately $600,000 at the end of January 2008; and the Company quarterly earnings call will go forward as scheduled. These forward-looking statements are based largely on the expectations of SmarTire and are subject to a number of risks and uncertainties that are beyond SmarTire's control. These include, but are not limited to, risks and uncertainties associated with, SmarTire's ability to obtain additional financing and to continue as a going concern, SmarTire's dependence on key personnel ,that our booked orders may not become actual sales; that we may require further cost cutting measures; the effects of competitive pricing, SmarTire's dependence on the ability of third-party manufacturers to produce components on a basis that is cost-effective to SmarTire, market acceptance of SmarTire's products, acceptance of SmarTire's products by prominent customers, SmarTire's ability to keep up with technological advances in the industry, the effect of competitive products and the effects of governmental regulations. SmarTire cautions that the foregoing factors are not exhaustive. For a detailed discussion of these and other risk factors, please refer to SmarTire's filings with the Securities and Exchange Commission, including its annual report on Form 10-KSB and subsequent quarterly reports on Form 10-QSB. SmarTire expressly disclaims any intent or obligation to update any forward-looking statements.
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