CALGARY, Alberta, Jan. 22, 2013 /PRNewswire/ -- Fero Industries, Inc. (OTC: FROI), the exclusive producer, marketer & distributor of Sucanon®, an oral type-2 Diabetes treatment, announced today that the company has hired Barry Hall, through his consulting company Carlaris LV Inc., as Interim CFO. Mr. Hall is the former CFO of EarthLink and brings extensive experience in accounting, corporate governance and strategic planning to the company.
"Barry's high level of experience is exactly what we need to move Fero Industries forward," commented Luis Lopez, Fero Industries Chief Executive Officer. "We are continuously working to position the company favorably as a public entity, and we understand that it is essential to prepare for an eventual audit which will lead to up-listing on the exchange. Barry's first project for Fero will be to file our unaudited financials on OTC Markets, and we are excited at the progress that can be made with someone like him on our team."
Barry Hall states, "I'm very eager to begin working with Fero and their exceptional Type II diabetes drug, Sucanon®. I believe strongly in the company and their mission, and am looking forward to helping them achieve their financial objectives."
Barry Hall has over 35 years of business experience that combines a strong financial background with a deep knowledge and practice of general management. He has been a CEO, COO and CFO for a variety of publicly and privately traded Internet, High Technology, and Telecommunications companies. He was the Founder and CFO of Thwapr Inc. a mobile video technology company; the Chief Financial Officer of EarthLink, Inc. who led its IPO; Chairman and CEO of CalAmp Corp, where he developed and directed the business strategy and marketing plan that turned this publicly held manufacturer of satellite television and wireless cable amplifiers from near bankruptcy, to the #10 small corporation in the United States (Business Week).
Barry holds an MBA and a BA in Mathematics, and served in the United States Marine Corps as a Tank Platoon Commander, advancing to the rank of Captain prior to his discharge.
Sucanon® is one of only three approved drugs in the multi-billion dollar market for a class of diabetic medications called "insulin sensitizers". Pre-clinical and clinical studies show that Sucanon® and other insulin sensitizers lower a patient's blood sugar by increasing the muscle, fat and liver's sensitivity to the body's own naturally produced insulin. Sucanon® has been approved for prescription sale in China and Peru. Sucanon® is also approved as an OTC treatment for Type-II diabetes by regulatory authorities in Mexico, and is distributed there under an exclusive agreement with Merck S.A. de C.V.
For further information regarding Sucanon®, please visit the Fero Industries Inc. website at www.feroindustries.com.
About Fero Industries Inc.
Fero Industries, Inc. (OTC: FROI) is focused on diabetes prevention and treatments. The Company holds the intellectual property and all exclusive world-wide rights related to the production, marketing, and distribution of Sucanon®, an oral treatment for Type-II diabetes. Sucanon® is a member of a class of diabetic medications called insulin sensitizers. Insulin sensitizers lower blood sugar by increasing the muscle, fat and liver's sensitivity to insulin. Insulin sensitizers are blood sugar normalizing or euglycemic drugs that help return the blood sugar to the normal range without the risk of low blood sugars. Fero's strategy is to increase awareness, acceptance, and distribution of Sucanon® globally.
For investor relations contact:
Paramount Advisors, LLC
SOURCE Fero Industries, Inc.