SEATTLE, WA - (ACCESSWIRE 9/10/2013 6:22:00 AM) - Baristas Coffee Company, Inc. (OTCPINK: BCCI) announced today that Robert J. Seda has joined the Board of Advisorsand Oversight Committee to provide guidance and oversight for the purpose of moving to a senior exchange. The Board serves as an independent third party insuring compliance, fiduciary responsibility, and guidance regarding allocation of resources and capital structure. It also examines processes and procedures relating to controls and financial modeling.
Bob recently served as President of Dowling Hales, having joined Hales & Company in 1999, and oversaw the firm's growth both internally and through acquisition. This included both leading the management buyout from Arch Capital Group, Ltd. in 2004 and spearheading the sale of Hales & Company to a private investor group, leading to the formation Dowling Hales in 2011. Bob has more than 20 years of management, financial and operational experience. Throughout his career, he has played a leading role in over 150 merger & acquisition transactions. Bob began his career as an auditor with Touche Ross & Company, where he was a Certified Public Accountant. He is an honors graduate of the University of Nebraska at Lincoln with a degree in Business Administration. Bob has been registered with FINRA as a Limited Representative - Investment Banking (Series 79 and 63).
Robert J. Seda stated,"I am pleased to be a part of the Baristas team and am particularly impressed with the efforts and dedication concentrated on reaching a senior exchange. The managements capabilities and its willingness to make adjustments quickly has Baristas well on its way to becoming a fully reporting company listed on the NASDAQ Capital Market. I feel that Baristas is well positioned to not only grow organically but by strategic acquisitions as well."
A. Michael Adams, Committee Chairman commented,"Having worked closely with Bob in the past, he was a natural choice when examining the needs of Baristas in their application to move to the NASDAQ Capital Market. His experience in Mergers and Acquisitions of both public and private companies and his extensive background in financial analysis bring the needed background to the corporate governance guidelines. I welcome all that he brings to the table allowing Baristas to meet its objectives while giving investors greater confidence."
Barry Henthorn, Baristas CEO, stated,"The addition of Bob and his insight to our team allows us to near the completion of our Corporate Governance Certification, a major step in complying with the NASDAQ listing standards. I am confident that we will be able to complete the task of creating and independent Board of Directors as well as meeting all of the requirements of an audit committee. Bobs experience and oversight will allow us to continue to attract the attention of professionals from a variety of disciplines that are at the top of their industries. It is our commitment to move Baristas to a senior exchange in order to provide our investors maximum return, transparency, and liquidity while providing the proper capital required for our growth. Bobs experience in acquisitions will allow us to continue to grow and achieve our objectives.
About Baristas Coffee Company (BCCI):
Headquartered in the Seattle, Washington area, Baristas Coffee Company, Inc. was formed to create a national brand of drive-thru espresso stands. BCCI is accomplishing this by acquiring established businesses that fit its model, opening new locations, and by franchising. Baristas has separated itself from the competition with its "theme" of joining attractive female baristas in entertaining costumes preparing the finest beverages available on the market. Baristas Coffee Company, Inc. is currently traded publically under the symbol "BCCI:OTCPK". Baristas has made formal application to the NASDAQ Capital Markets, and has been reserved the symbol "BAPI" for trading once it has completed the process. Baristas can currently be found throughout greater Seattle as well as in Arizona, Florida, and Montana. Your state, Coming Soon!
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SOURCE: Baristas Coffee Company, Inc.