BOCA RATON, Fla.--(BUSINESS WIRE)--
Ominto, Inc. (Nasdaq: OMNT), a growth company with global operations in
the e-commerce, marketing, and entertainment industries, today announced
the appointment of Jim Spielman as Chief Financial Officer.
Mr. Spielman joins Ominto following a long career in investment banking,
corporate finance and public accounting. Prior to joining Ominto, Mr.
Spielman was the Managing Partner of Sympheron Capital LLC, a boutique
M&A advisory and private capital raising service firm he started 10
years ago to advise publicly traded and private corporate clients on
mergers, acquisitions, divestitures, leveraged buyouts, restructurings,
recapitalizations, and corporate finance transactions. Prior to
Sympheron, Mr. Spielman served as the CFO of Intelligent InSites, a
VC-backed healthcare SaaS (Software-as-a-Service) where he raised
several million in new capital from private and institutional investors
while leading the company's accounting, finance, and IT departments and
co-leading HR. Prior to InSites, Mr. Spielman was an M&A and corporate
finance investment banker with Houlihan Lokey's Global Energy Investment
Banking Group and Bank of America Securities' Global Healthcare
Investment Banking Group in New York. Earlier in his career, Mr.
Spielman spent 10 years in senior corporate financial reporting,
planning & analysis roles with Western Digital (Nasdaq: WDC), Buy.com
which was later acquired by Rakuten, Inc., and Health Care Property
Investors (NYSE: HCP). Mr. Spielman started his career as an audit CPA
with Arthur Andersen in California specializing in software, e-commerce,
digital media, and internet services. He earned his BS in Accounting
(Cum Laude) from Minnesota State University and an MBA in Finance from
UCLA's Anderson School of Management.
Michael Hansen, Chief Executive Officer, stated, "Jim brings to Ominto a
wide range of experience in corporate finance and public accounting,
which will prove valuable as we continue to build and grow our global
operations. Jim has worked with early stage companies through maturity
and has the credentials to take our financial operations to a new level.
He will focus initially on regaining compliance with reporting
requirements. I look forward to leveraging Jim's extensive experience as
in the execution of strategy around the world. We welcome Jim to our
leadership team and look forward to his contributions."
About Ominto, Inc.
Ominto is a growing company with global operations in the e-commerce,
marketing, and entertainment industries. The company owns or invests in
strategic entities that provides value to its global customer base.
Ominto is a pioneer in global Cash Back and first to market in many
regions of the world. At the core of Ominto's business is Dubli.com, a
global consumer Cash Back e-commerce digital marketplace.
At Dubli.com or at Partner sites powered by Ominto.com, consumers shop
at their favorite stores, save with the best coupons and deals, and earn
Cash Back with each purchase. The Ominto.com website features thousands
of brand name stores and industry-leading travel companies from around
the world, providing Cash Back savings to consumers in more than 120
countries. Ominto's Partner Programs offer a white label version of
the Ominto.com shopping and travel website to businesses and
non-profits, providing them with a professional, reliable web presence
that builds brand loyalty with their members, customers or constituents
while earning commissions for the organization and Cash Back for
shoppers on each transaction.
For more information, please visit Ominto's corporate website http://ominto.com.
This press release contains forward-looking statements that involve
substantial risks and uncertainties. These include statements about
Ominto's expectations, beliefs, intentions or strategies for the future,
which are indicated by words or phrases such as "anticipate," "expect,"
"intend," "plan," "will," "believe," "projects," "could," "would," and
similar expressions. You can also identify them by the fact that they do
not relate strictly to historical or current facts. The forward-looking
statements reflect Ominto's current view about future events and are
subject to risks, uncertainties and assumptions. Because forward-looking
statements relate to the future, by their nature, they are subject to
inherent uncertainties, risks, and changes in circumstances that are
difficult to predict. Ominto may not actually achieve the expectations
disclosed in the forward-looking statements and you should not place
undue reliance on Ominto's forward-looking statements. These
forward-looking statements involve risks and uncertainties that could
cause actual results or events to differ materially from the
expectations disclosed in the forward-looking statements, including, but
not limited to: risks related to our ability to continue as a going
concern being in doubt; Ominto's inability to generate enough customers
or enough purchasing activity for our shopping websites; Ominto's
inability to establish and maintain a large growing base of Business
Associates; Ominto's failure to adapt to technological change; increased
competition; increased operating costs; changes in legislation
applicable to Ominto's business; Ominto's failure to improve our
internal controls; and Ominto's inability to generate sufficient cash
flows from operations or to secure capital to enable us to maintain our
current operations or support our intended growth; along with other
risks and potential factors that could affect Ominto's business and
financial results identified in Ominto's filings with the Securities and
Exchange Commission, including its Annual Report on Form 10-K for the
fiscal year ended September 30, 2016.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180214005205/en/
Source: Ominto, Inc.
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