August 8, 2011
Consolidation Services Inc., Announces the Appointment’s of Richard S. Polep to the Position of Chief Financial Officer and of Richard D. Herstone to the Board of Directors
LAS VEGAS, Aug. 8, 2011 /PRNewswire/ -- Consolidation Services Inc. ("CNSV" or the "Company") (OTCBB: CNSV) announced today that it has recruited its Board member, Richard S. Polep, to serve in the position of Chief Financial Officer. Additionally the Company announced the appointment of Richard Herstone to serve as a member of its Board of Directors.
Richard Polep replaces Pam Thompson who needed to drastically reduce her workload and responsibilities for personal reasons. Ms. Thompson has tendered her resignation as both an officer and director of the Company but will continue to assist CNSV on a part time basis as a consultant.
The Company's President and Interim CEO, Gary Kucher, stated that: "The appointments of both Richard Polep and Richard Herstone to their respective roles will greatly enhance the day-to-day activities of the Company. Their particular experiences will be invaluable to the consummation of the pending acquisition and subsequent operation of the two gold mining companies in Montana."
The Definitive Acquisition Agreement for "Elkhorn Goldfields Inc" and "Montana Tunnels Mining Inc" was announced on May 2, 2011."
About Richard S. Polep:
Richard S. Polep was appointed to the Board of Directors of the Company on May 12, 2010. Mr. Polep has over 47 years experience in public accounting and has substantial experience in financial reporting and disclosure rules and regulations of the Securities and Exchange Commission, including internal controls, initial public offerings, private offerings, corporate acquisitions and reorganizations.
Mr. Polep spent 31 years with Grant Thornton LLP, which is ranked number five in international accounting firms. He was a partner with that firm for 24 years. He subsequently joined SingerLewak LLP as an audit and quality control partner and was there for eleven years.
Mr. Polep graduated from the University of Southern California in 1961 with a Bachelor of Science degree in Accounting and has been an instructor for the California Society of CPAs. He is active in the CSCPA and the AICPA and is a former member of the AICPA Securities and Exchange Commission Practice Section Executive Committee.
About Richard D. Herstone:
Richard D. Herstone is the founder of Regency Capital Group and has served as its Managing Member since 1991. The firm acts in an advisory capacity with its clients, specializing primarily in structuring debt financings for strategic and financial acquisitions, growth, divestitures and other corporate purposes.
Mr. Herstone brings to Consolidation Services Inc., a wealth of experience in project, equipment and other structured financing methods. He has also fulfilled various appointments in senior management positions including serving as Interim President of Bungee International, Treasurer of GaryPlayerGolf.com, and Director of Business Development for each, Manex Entertainment, Inc., and Ryan Telemedicine, LLC.
Prior to founding Regency Capital Group, Mr. Herstone was a partner at Regency International, a finance company specializing in large-ticket equipment leasing transactions that included aircraft, machine tools, and rail assets.
Prior to that he was the founder and president of First Atlantic Equipment Leasing Corporation, a full service leasing company dedicated to providing unique financing opportunities to its "Fortune 500" list of customers.
Founded in 2007 and based in Las Vegas, Nevada, Consolidation Services Inc. is engaged in the acquisition, operation and development of domestic natural resources. Since formation and until the first quarter of 2010, the Company had primarily focused on it mining operations in Tennessee, which were subsequently spun off to its shareholders as a dividend. The Company currently owns oil and gas wells along with oil and gas mineral rights on approximately 13,500 acres in eastern Kentucky and Tennessee. Consolidation Services Inc. attempts to build shareholder value through the acquisition and development of domestic natural resources.
For more information, please visit: CNSV.INFO
Forward Looking Statement:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and under the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements. Without limiting the foregoing, the words "believe," "anticipate," "plan," "expect," "seek," "potential", "estimate" and similar expressions are intended to identify forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements.
Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
SOURCE Consolidation Services Inc.