Full Press Release Details
(ECOLOGYCOATINGS LOGO)
ECOLOGY COATINGS, INC. COMPLETES REVERSE MERGER WITH OCIS CORPORATION
Green Coatings Leader Begins Trading Under New Symbol (OTCBB: ECOC,)
Expands Executive Team
BLOOMFIELD HILLS, Mich. - July 30, 2007 - ECOLOGY COATINGS, INC. (OTCBB: ECOC),
the global leader in the development of nano-enabled, ultra-violet (UV) curable,
clean technology coatings, today announced that it closed its reverse merger
with OCIS CORPORATION on July 26, 2007 and the merger was be effective as of
As previously announced, on April 30, 2007 OCIS Corp. and Ecology Coatings
entered into a merger agreement, which called for OCIS to acquire Ecology
Coatings in a statutory merger with Ecology Coatings becoming a wholly owned
subsidiary of OCIS. On July 27, 2007, Ecology Coatings merged with OCIS and
became the surviving corporation and a wholly-owned subsidiary of OCIS, which
then changed its name to Ecology Coatings, Inc.
"The successful completion of this transaction coupled with Ecology Coatings'
common stock listing on the OTC Bulletin Board(R) are both major milestones for
us. Our listing on the OTCBB will provide us with access to new investors, new
sources of capital with which to grow our company, and greatly enhance our
visibility and market awareness of our outstanding line of leading-edge, clean
technology coating products," stated Richard D. Stromback, chairman of the board
of directors for Ecology Coatings.
Pursuant to the terms of the merger agreement, the board of directors and
executive officers of OCIS Corp. resigned and were replaced by the board and
officers of Ecology Coatings, who have become the new board and executive
officers of the surviving entity.
The company also announced the addition of the following individuals to the
- David W. Morgan--vice president, chief financial officer, and treasurer.
Prior to joining Ecology Coatings, Mr. Morgan served as the vice president
of finance and corporate development, chief financial officer, and
treasurer of TechTeam Global, Inc. a publicly-traded, worldwide provider of
information technology and business process outsourcing services. He has
also served as the CFO of two other public and private technology companies
addressing the industrial manufacturing sector. Mr. Morgan holds a B.A.
degree in economics and political science from the University of Michigan.
- Tim Tanner--vice president of business development. Mr. Tanner joined
Ecology Coatings with more than 19 years of experience in the development
and marketing of UV-curable coatings for Redspot Paint and Varnish and
North American Lighting. Mr.
Tanner was instrumental in developing both domestic and global automotive
lighting applications for UV products and in establishing strategic
relationships with Japanese and European partners. Mr. Tanner holds a B.S.
degree in chemistry from Murray State University.
"Dave's extensive experience as the CFO of multiple high-tech public and private
companies and Tim's long term experience with UV-curable coatings are perfectly
suited to meet our organizational needs and growth expectations for Ecology
Coatings. They are welcome additions to our executive team," stated F. Thomas
Krotine, president and chief executive officer of Ecology Coatings.
ABOUT ECOLOGY COATINGS, INC.
Ecology Coatings, Inc. is the global leader in the development of nano-enabled,
ultra-violet curable, clean technology coatings that are designed to drive
efficiencies and clean processes in manufacturing. The company creates
proprietary coatings with unique performance attributes by leveraging its
platform of integrated nano-material technologies. Ecology Coatings collaborates
with industry leaders to develop high-value, high-performance coatings for
applications in the specialty paper, automotive, general industrial, electronic,
and medical sectors of the economy. For information about Ecology Coatings and
its product offerings, call (248) 723-2223 or visit www.ecologycoatings.com.
Ecology Coatings' common stock is traded on the OTC Bulletin Board under the
Founded in March 1990 and headquartered in Bloomfield Hills, Michigan, Ecology
Coatings also maintains an advanced manufacturing facility in Akron, Ohio.
FORWARD-LOOKING STATEMENTS
Except for statements of historical fact, the information presented herein
constitutes forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
generally can be identified by phrases such as, Ecology Coatings (the
"Company"), by and through its management, "anticipates," "believes,"
"estimates," "expects," "forecasts," "foresees," "intends," "plans" or other
words of similar import. Similarly, statements herein that describe the
Company's business strategy, outlook, objectives, plans, intentions or goals
also are forward-looking statements. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include but are not
limited to: Ecology Coatings' ability to develop, manufacture and market
innovative products in a rapidly changing technological environment; the
Company's ability to compete in products and prices in an intensely competitive
industry; the Company's ability to maintain and enforce a strong intellectual
property portfolio; the Company's ability to attract sufficient capital; the
Company's ability to attract and retain talented individuals; adverse changes in
general economic or market conditions, and; other events, factors and risks
previously and from time to time disclosed in our filings with the Securities
and Exchange Commission, including, specifically, the Company's latest periodic
Ecology Coatings, A Cleantech Company