OSL Holdings Hires Former SEC Employee as Vice President, Corporate Controller and Principal Accounting Officer
YARDLEY, Pa., July 31, 2014 /PRNewswire/ -- OSL Holdings (OTCQB: OSLH) ("OSL" or "the Company"), a socially conscious business model dedicated to consumer advocacy, social activism and the advancement of civil liberties through the power of commerce, announced today that effective July 7, 2014 Thomas D'Orazio joined the company to help streamline and optimize finance, accounting and reporting procedures, requirements and processes. Tom will serve as OSL Holdings Inc.'s Vice President, Corporate Controller and Principal Accounting Officer. Bob Rotherberg, OSL's CEO said, "We are excited to have Tom join the team. Tom brings a wealth of experience that will help the company with its reporting requirements as well as the accounting expertise needed to effectuate our accretive acquisition strategy."
Prior to joining the company, Mr. D'Orazio served on the Technical Accounting Staff in the Division of Corporation Finance at the U.S. Securities and Exchange Commission from May 2013 to May 2014 where he reviewed registrants' annual/interim filings and registration statements encompassing diversified businesses. In this role Mr. D'Orazio identified key risk factors, MD&A matters and financial statement and related disclosure/internal control issues to ensure adherence to authoritative accounting/SEC guidance, all of which are potentially critical to investor decisions. Mr. D'Orazio issued comments contributed to registrant restatements of previously reported financial information, amended filings and enhanced MD&A of critical accounting estimates/policies, results of operations, liquidity/financial condition, etc. and financial statements and footnotes thereof covering multiple areas.
Previous to that, Mr. D'Orazio served as Senior Vice President, Finance and Principal Accounting Officer for Sensus, a $0.9 billion annual sales SEC filer and leading provider of advanced metering and related communications solutions to the worldwide utility industry, from April 2005 through December 2012. Mr. D'Orazio also served as principal accounting officer for several multi-national public (primarily manufacturing) companies, on the staff of the Financial Accounting Standards Board in Research and Technical Activities and in the audit division of Arthur Andersen LLP. Mr. D'Orazio graduated with a B.B.A. in Accounting and Financial Management from Pace University in NYC, ranking first in his major field, and is an active licensed certified public accountant in the state of New York.
OSL Holdings (OTC: OSLH) is a development and technology company specializing in affluent, liberal markets with high disposable income. The Company intends to operate a real-time loyalty rewards platform that can facilitate the earning and redemption of rewards currency at the point of the transaction (online, mobile, at retail) as well as on future transactions. OSL Holdings' target consumers are highly educated, respond to cause marketing initiatives and socially conscious business models, and are technologically savvy. On March 10, 2014, the Company announced its intent to enter the legal marijuana market when federal law permits, providing foundational work for branding, marketing, technology, and logistics to existing or emerging legal marijuana licensees.
The Company's filings with the SEC are available at http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001329957&owner=exclude&count=40.
For more information, please visit the Company's website at http://www.oslholdings.com.
Forward Looking Statements -- Safe Harbor
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases you can identify those so-called "forward looking statements" by words such as "may," "will," "should," "expects," plans," "targets," "believes," "anticipates," "estimates," "predicts," "potential," or "continue" or the negative of those words and other comparable words. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. There are a number of factors, risks and uncertainties that could cause actual results and developments to differ materially from forecasted results. For a discussion of these factors, risks and uncertainties please see our filings with the Securities and Exchange Commission. Our public filings with the Commission are available from commercial document retrieval services and at the website maintained by the Securities and Exchange Commission at http://www.sec.gov. We assume no obligation to update or alter our forward-looking statements made in this release or in any periodic report filed by us under the Securities Exchange Act of 1934 or any other document, whether as a result of new information, future events or otherwise, except as otherwise required by applicable federal securities laws.
OSL Holdings Inc.
Craig S. Fischer
SOURCE OSL Holdings Inc.