name: sunny
2007/5/22(È­)
SulphCo(R) Appoints Stanley W. Farmer CFO  

Company Also Announces Move to Houston, TX While Maintaining a Small Presence in Reno, NV

SPARKS, Nev., May 21 /PRNewswire-FirstCall/ -- SulphCo(R), Inc. SUF announced today that it has appointed Stanley W. Farmer to the position of Vice President & Chief Financial Officer. As CFO of the company, Stan will oversee all financial activities, actively participate in the execution of the company's business plan and expand the scope of shareholder communication. Stan will be starting with the company on Monday, June 11, 2007.

Stan is a certified public accountant with over sixteen years of progressive professional financial management experience. Most recently, he was an audit partner at Malone & Bailey, PC, ("M&B") in Houston, Texas, where he was responsible for more than 20 ongoing small public and private company audits and the development, assessment and implementation of M&B's strategic growth initiatives. From November 2004 to April 2005, Stan served as CFO at Texas Energy Ventures, LLC. Stan has also been an Assistant Controller of Accounting & Financial Reporting at Reliant Energy, Inc., a Senior Director of Transaction Support at Enron Corp., and has held management positions with a focus in the energy sector at Arthur Andersen LLP and KPMG LLP.

"We are pleased with the extensive technical accounting experience within the energy industry that Stan brings to SulphCo(R)," commented Dr. Larry Ryan, CEO of SulphCo(R), Inc. "We are confident that he will prove to be a strong leader of our financial management team."

Stan earned a B.B.A. in Accounting from Texas A&M University in 1990 and is a member of the American Institute of Certified Public Accountants and the Texas Society of Certified Public Accountants.

The company also announced that effective May 31, 2007, SulphCo(R), Inc. will be relocating its corporate headquarters to Houston, TX. The company disclosed that it signed a lease for 12,000 square feet of corporate office and laboratory facilities in Houston. In concert with outside vendors, the laboratory facility will be designed to continue the testing, research and development of the current and next generation probe and Sonocracking(TM) technology.

Dr. Ryan emphasized that he anticipates no interruption in the ongoing process to improve the performance of the company's ultrasonic probes as a result of the move, as that function has largely been outsourced to third party vendors.

Houston is considered the commercial center of the US oil industry, a key market for SulphCo(R)'s Sonocracking technology, which is designed to upgrade sour heavy crude oils into sweeter, lighter crude oils, producing more gallons of usable oil per barrel. SulphCo(R) will continue to maintain a small office presence in the Reno area.

"Relocating our corporate offices to Houston is an exciting and very strategic move for us, as it not only provides access to the most talented labor pool in our industry and superb refining, petrochemical and engineering resources, but it places us in close proximity to our targeted customer base as well", said Ryan.

The move will allow the company to recruit chemical engineers, oil chemists and technical personnel in Houston, while concurrently downsizing production staff at the Sparks facility. A number of key SulphCo(R) employees will be relocating from Sparks to Houston to continue in their roles with the firm.


 


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