BOSTON, Jan. 21, 2009 (GLOBE NEWSWIRE) -- Hot Web, Inc. (Pink Sheets:HWBI) announced today that the Company has retained Dennis Atkins and Michael M. Chaffee as advisors. Mr. Atkins will lead the initiative to bring the Company's financials current and Hot Web back into compliance as a fully reporting company. Mr. Chaffee will provide guidance, expertise and resources related to the Company's pursuit of joint ventures and acquisitions within the mining industry.
Dennis Atkins is a Certified Public Accountant with over twenty-five years' experience in public accounting with extensive experience in business and personal tax planning and preparation, including the use of offshore domiciles for income tax benefit and asset protection, public and private company auditing and business consulting. He has been a member of the SEC Practice Section and the Public Company Oversight Board. Mr. Atkins has served on the board of directors and as chief financial officer for various private and publicly traded companies. He is a member of the American Institute of Certified Public Accountants and holds licenses in Oklahoma and California. Mr. Atkins holds a Bachelors Degree in Accounting from Oklahoma State University and a Masters Degree in Accountancy from the University of Oklahoma.
Michael M. Chaffee has over 30 years of mining experience and extensive work history in the Senior Management of public companies. Mr. Chaffee was previously the President, C.E.O. and Chairman of Applied Biomedical Sciences, a public company of which he was a founding director. Prior to forming ABS, he held senior positions as Executive Vice President and C.O.O. of U.S. Pump and Turbine Company Inc., Vice President, Western Regional International as well as being a Senior Vice President in two local Investment Banking firms. His Education includes a BS in Electronic Engineering at the Northrop Institute of Technology, 1964, and Postgraduate Work, Electronics, Business Administration, Biomedical Engineering at the University of Southern California and the University of California at Los Angeles. Licenses and Certifications include I.E.E.E. Certification, U.S. Biomedical Engineering Certification, Principals License, New York Stock Exchange/NASD, Captain's License, U.S. Coast Guard and Top Secret Clearance in conjunction with work on development of high altitude and near space reconnaissance systems.
Jason Cooper, Interim CEO of Hot Web, Inc., commented, "I have worked with Mr. Atkins and Mr. Chaffee for some time and am very pleased to have added them to the Hot Web team. Their abilities and resources will expedite the process for the company's efforts to become a fully reporting mining concern."
The Company also announced that it would be scheduling a conference call for shareholders with Mr. Atkins, Mr. Chaffee and management to inform the public of the direction and plans for Hot Web to accomplish its corporate goals.
About Hot Web
As previously announced, Hot Web is currently negotiating the sale, joint venture and potential spin-off of the Hot Web online properties. The Company, through Presage Partners LLP, has access to a substantial number of mining assets that it is seeking to capitalize on. These mining assets include copper, gold, nickel, platinum, palladium, silver, uranium and Rare Earth Elements. The various mining opportunities are in different stages of development. Some properties are ready for drilling, others are producing and a large number of the properties are available for joint venture rather than an outright sale.
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