US Dataworks, Inc. Announces Addition of Chief Financial Officer
30 Julio 2009 - 8:00AM
PR Newswire (US)
HOUSTON, July 30 /PRNewswire-FirstCall/ -- US Dataworks, Inc.
(AMEX:UDW), a leading developer of payment processing solutions,
announced today that it has appointed Randall J. Frapart to serve
as its Chief Financial Officer, filling a previously existing
vacancy. Commenting on the addition of Mr. Frapart, Charles E.
Ramey, the Company's Chairman and CEO, stated, "Our CFO position is
a critical function to fill as we continue to grow the Company.
Randy has impressive credentials with his strategic, forward
thinking, hands-on approach and his 20-plus years of experience in
CFO roles at two software development and consulting companies
serving the financial and health insurance industries and at KPMG
in Chicago. We are pleased to have someone as experienced as Randy
join our management team." Prior to joining the Company, from March
2008 to December 2008, Mr. Frapart served as Chief Financial and
Chief Operating Officer of Plumgood Food, LLC, an online grocer
providing the ordering and delivery of groceries. From January 2006
to December 2007, Mr. Frapart served as Executive Vice President
and Chief Financial Officer of ForeFront Holdings Inc, a publicly
traded global golf accessory company. From September 2002 until
December 2005, Mr. Frapart served as Senior Vice President and
Chief Financial Officer of HyperFeed Technologies, Inc., a publicly
traded provider of software, which provides ticker plant and smart
order routing technologies and managed services to exchanges, hedge
funds and other financial institutions. Mr. Frapart served as Chief
Financial Officer and later as Chief Executive Officer of Cyvent
Technologies, a software and consulting company serving large
health insurers, from April 1995 to July 2001. Mr. Frapart began
his career at KPMG in Chicago, where he held various positions in
the Information, Communication and Entertainment Assurance practice
for over 12 years. Mr. Frapart received his B.S. in Accounting from
Washington University in St. Louis, has his MBA in Management from
the University of Texas and is a certified public accountant. About
US Dataworks, Inc. US Dataworks is a developer of payment
processing solutions, focused on the Financial Services market,
federal, state and local governments, billers and retailers.
Software developed by US Dataworks is designed to enable
organizations to transition from traditional paper-based payment
and billing processes to electronic solutions that automate
end-to-end processes for accepting and clearing checks. Additional
information about US Dataworks is available at
http://www.usdataworks.com/. Certain statements made in this press
release (other than the historical information contained herein)
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995, as amended,
including, but not limited to, statements regarding our expectation
of continued growth, the benefits of our recent restructuring, the
anticipated features and benefits of our new distribution payment
capture solution, our vision for payment processing and our new
solutions' ability to provide a higher return on investment for our
clients. Any forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially,
including, but not limited to, the failure of our new solution to
perform as anticipated, our ability to provide long-term customer
value and agility, our ability to protect our intellectual
property, our position in the marketplace, our ability to develop
and timely introduce products that address market demand, the
impact of alternative technological advances and competitive
products, market fluctuations, our ability to avoid being delisted
from the NYSE Alternext US (formerly the American Stock Exchange),
our ability to repay, refinance or extend the maturity date of our
debt, and other risks detailed from time to time in the SEC reports
of US Dataworks, including its annual report on Form 10-K for the
year ended March 31, 2009. These forward-looking statements speak
only as of the date hereof. US Dataworks disclaims any obligation
to update these forward-looking statements. CONTACTS: Charles
Ramey, CEO Donald C. Weinberger US Dataworks, Inc. Wolfe Axelrod
Weinberger Assoc. LLC Tel. (281) 504-8100 Tel. (212) 370-4500 Fax
(212) 370-4505 DATASOURCE: US Dataworks, Inc. CONTACT: Charles
Ramey, CEO of US Dataworks, Inc., +1-281-504-8100; or Donald C.
Weinberger of Wolfe Axelrod Weinberger Assoc. LLC, +1-212-370-4500,
fax, +1-212-370-4505, for US Dataworks, Inc. Web Site:
http://www.usdataworks.com/
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