NEWARK, Del., Jan. 9, 2008 (PRIME NEWSWIRE) -- Theater Xtreme Entertainment Group, Inc. (OTCBB:TXEG), a nationwide seller and installer of real movie theaters for the home, announced today that it has appointed Mr. Hal Bennett, CEO of Third-Order Nanotechnologies, Inc. (Pink Sheets:TDON) to serve on the company's Board of Directors. Mr. Bennett's appointment reflects the company's ongoing effort to provide outstanding leadership at its highest level.
"Theater Xtreme is a visionary organization, and I'm eager to work cooperatively with its Board to help bring the company's strategic position in the custom consumer electronics retail segment to the next level," said Bennett. "My background in working with breakthrough business concepts and technologies is very compatible with Theater Xtreme's venture into a new retail category. The entire business model energizes me."
Mr. Bennett currently serves as CEO of Third-Order Nanotechnologies, Inc. and has acted as a corporate restructuring advisor for large high-tech corporations including DuPont, Silicon Graphics, 3M and Sun Microsystems. He also worked with Microsoft co-founder Paul Allen's think-tank company, Interval Research, on a network-based home media concept called HomeWorks, were he helped to create retail inroads for its products.
"We are very excited to welcome Hal to our Board," said Theater Xtreme CEO Scott Oglum. "His expertise with developing leading-edge businesses to critical mass levels is impressive, and he will undoubtedly be an asset to helping us reach our growth goals. We look forward to working with him."
Mr. Bennett also successfully implemented a program for DuPont to outsource innovation by creating a new business model for DuPont Ventures. He started his restructuring career by turning around Research Systems, a scientific software company, which was acquired by Kodak two years subsequent to his involvement with that company. Before that, he gained extensive experience in starting and growing companies in Silicon Valley. Mr. Bennett has a degree in Mathematical Physics from Stanford University and is named on several U.S. Patents.
To be added to Theatre Xtreme's investor contact list, please contact Justin Schakelman at jschakelman@theaterxtreme.com.
ABOUT THEATER XTREME ENTERTAINMENT GROUP, INC.
Theater Xtreme Entertainment Group, Inc (OTCBB:TXEG) is a specialty retailer of real movie theaters for the home. The Company's 80" to 120" front projection systems deliver an authentic movie theater experience, as an increasingly popular alternative to flat panel televisions. Its cinema packages, featuring brand names and factory direct products, are simple to use and cost significantly less than traditional A/V dealer offerings. It operates 3 company owned stores and 11 franchises in 12 states.
SAFE HARBOR STATEMENT
Some of the information presented in this letter constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements represent the Company's judgment regarding future events, and are based on currently available information. Although the Company believes it has a reasonable basis for these forward-looking statements, the Company cannot guarantee their accuracy and actual results may differ materially from those the Company anticipated due to a number of known and unknown uncertainties, of which the Company is not aware. Factors which could cause actual results to differ from expectations include, among others, the ability of the Company to sell franchises, success of the franchise stores, the ability to find suitable locations for new corporate and franchise stores, delay or loss of key products from vendors, the ability to maintain margin and sales growth rate, disruption of product delivery from overseas suppliers, changes in regard to significant suppliers, increased competition from companies with more expertise, experience, or financial resources, technological changes in the home theater market which may render the Company's offerings obsolete, less competitive, or too expensive, material reduction in the demand for home theaters, and lack of sufficient capital to allow the Company to achieve its corporate store opening goal. For additional information concerning these and other important factors that may cause the Company's actual results to differ materially from expectations and underlying assumptions, please refer to the reports filed by the Company with the Securities and Exchange Commission available at www.sec.gov.