TARPON SPRINGS, Fla., April 26 /PRNewswire-FirstCall/ -- Solomon
Technologies, Inc. (OTC Bulletin Board: SOLM) announced today David J.
Parcells, a director of Solomon Technologies, Inc. (the "Company"), passed
away on April 21, 2007.
Mr. Parcells had been a director of the Company since September 2005.
He was an independent director, under the definition set forth in NASDAQ
Marketplace Rule 4200, and served on the company's audit and compensation
Starting in December 2003, Mr. Parcells served as Chief Financial
Officer of Garrity Industries, Inc, a privately held manufacturer and
leading supplier of flashlights under the Garrity brand name. From January
2000 to September 2003, Mr. Parcells was Vice President and Chief Financial
Officer for eLOT, Inc, a publicly traded internet company serving the
lottery industry. From September 1998 to January 2000, he was President and
Chief Financial Officer of Sentinel Business Systems, a privately held bar
code data collection software provider and systems integrator. Mr. Parcells
was a Certified Public Accountant and held a BS degree in Accounting from
Providence College. Mr. Parcells was a substantial contributor to Solomon's
strategy development, was a key director on its audit committee and gave
much time to charity.
Mr. Parcells died Saturday after pulling out of the 24-mile Tampa Bay
Marathon swim in St. Petersburg, Fla. Mr. Parcells, a veteran long-distance
swimmer, complained of feeling sick and left the water about four hours
into the race. It was his eighth time competing in the event he had won in
Although Mr. Parcells had been diagnosed with multiple sclerosis last
fall, he continued to train and swim. Among Mr. Parcells' plans was an
August swim around the island of Jersey off the coast of France to raise
money for Bridgeport, Connecticut's St. Vincent's Medical Center
Foundation, which helps cancer patients and their families.
Mr. Parcells had completed double crossings of the approximately
21-mile English Channel before teaming up nearly three years ago to attempt
a triple crossing to raise money for St. Vincent's. A former triathlete who
completed the Hawaii Ironman in 1989, Mr. Parcells gave up running and
biking after his sixth knee operation in 1995. He focused on swimming, and
in 2002 became the oldest person, at 44, to complete a double crossing of
the English Channel, doing it in 21 hours, 30 minutes.
Mr. Parcells was the race director for a number of triathlons and
swims, including the Swim Across the Sound, which also raised money for St.
Mr. Parcells was instrumental in getting people involved in open-water
swimming. He is survived by two children.
Information about Solomon Technologies, Inc.:
Solomon Technologies, Inc., through its Motive Power and Power
Electronics divisions, develops, licenses, manufactures and sells precision
electric power drive systems, including those utilizing its patented
Electric Wheel(TM), Electric Transaxle(TM) and hybrid and regenerative
technologies as well as direct current power supplies and power supply
systems requiring high levels of reliability and ruggedness for defense,
aerospace, marine, commercial, automotive, hybrid electric and all electric
FORWARD LOOKING STATEMENTS: This press release contains forward-looking
statements within the meaning of the Private Securities Litigation Reform
Act of 1995. The statements regarding Solomon Technologies, Inc. in this
release that are not historical in nature, particularly those that utilize
terminology such as "may," "will," "should," "likely," "expects,"
"anticipates," "estimates," "believes," or "plans," or comparable
terminology, are forward- looking statements based on current expectations
about future events, which management has derived from the information
currently available to it. It is possible that the assumptions made by
management for purposes of such statements may not materialize. Actual
results may differ materially from those projected or implied in any
forward-looking statements. Important factors known to management that
could cause forward-looking statements to turn out to be incorrect are
identified and discussed from time to time in the Company's filings with
the Securities and Exchange Commission. The forward- looking statements
contained in this release speak only as of the date hereof, and the Company
undertakes no obligation to correct or update any forward- looking
statements, whether as a result of new information, future events or
SOURCE Solomon Technologies, Inc.