New president at Uniserve

Published: June 25th, 2009

Vancouver’s Uniserve Communications Corp.,an Internet and telephone service provider in six provinces which hasbeen in financial trouble, has a new president. The company saidThursday that Michael Schmidt, formerly vice-president of sales, hasbeen promoted. William Spratt had been both president and CEO untilnow. In addition, Bruce Sanderson has been hired as vice-president forproduct development. Publicly-traded Uniserve has been trying to workoff debt for several months. According to an unaudited April filing, ithad an accumulated deficit of just over $15 million for the nine monthsending Feb. 28. For the three month period ending Feb. 28 it had a netloss of $693,000. To help its position, last October it sold its U.S.division, Parasun Technologies, for US$20 million, which it had boughtonly the year before. Two months after the sale lawyer Michael Scholz,who had been a director since 2004, became chairman of the board.  Ina news release, CEO Spratt said that Schmidt “brings with him a proventrack record of consistent revenue growth, executive leadership andtelecommunications understanding.” Sanderson’s expertise in telephonecommunications will help Uniserve deliver effective and innovativesolutions, he added.

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