Ubiquity Continues to Push Forward Its Restructure Plans

IRVINE, Calif., May 16, 2018 /PRNewswire/ -- Ubiquity, Inc. ("Ubiquity" or the "Company"), is a vertically integrated, technology-focused media company. Ubiquity's portfolio covers virtual, augmented, mixed and immersive reality as well as the Internet-of-Things.

Since the departure by Chris Carmichael in late July, Ubiquity continues to push forward to re-structure the company. Chris Carmichael, who had originally been succeeded by Nick Mitsakos, returned to CEO in June of 2017 in an effort to assist the company in its financial filings. Carmichael resigned as Chairman and CEO in late July 2017 due to illness.

As previously reported, Robert Fernander stepped into the role as Chairman in August of 2017 and Brenden Garrison who had been running the company since Carmichael's absence, was named President and CEO in December 2017.  

Robert ("Bob") is a seasoned business executive experienced in connecting new technologies to high growth markets who originally joined the Company's board of directors in April of 2017. "We expect Carmichael's vision and positive influence on the company to continue as we connect these emerging technologies to the consumer," stated Mr. Fernander. He continued to say, "I am looking forward to continuing Ubiquity's restructuring plan that Carmichael started to establish a clear strategy for revenue and growth."

Garrison who has played a major role in the Company's management since joining the company in 2006 and was officially named Chief Financial Officer in 2013 said, "I believe that the company will succeed in its restructuring efforts, as we take the groundwork laid by Carmichael in VR, AR, and Mixed Reality along with the innovative Sprocket to market," Garrison said.

About Ubiquity

Irvine, California, Ubiquity is a vertically integrated, technology-focused media company.

Forward-Looking Statements

Statements in this press release that are not descriptions of historical facts are forward-looking statements that are based on management's current expectations and assumptions and are subject to risks and uncertainties. In some cases, you can identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should," "will," "would" or the negative of these terms or other comparable terminology. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those currently anticipated. These forward-looking statements are made as of the date of this press release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.

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SOURCE Ubiquity Inc.