News

Greenland appoints new directors to board

January 26, 2003

SAN DIEGO, Calif. -- Greenland Corporation (OTC Bulletin Board: GRLC) has appointed four new members of its board of directors, following the acquisition of shares by Imaging Technologies Corporation (OTC Bulletin Board: IMTO). ITEC currently holds 60 percent of Greenland's shares, with warrants to purchase an additional 30 percent.

(See related story Greenland sells controlling interest in effort to market check-cashing kiosk)

According to a news release, Brian Bonar, ITEC's chairman and chief executive, was elected Greenland's chairman. Tom Beener continues to serve as Greenland's CEO. Gene Cross and George Godwin remain on the Greenland board as directors.

Bonar, a director of ITEC since 1995, became the company's CEO in 1988 and chairman of the board in December 1999. He joined ITEC in 1994.

He has served in executive management capacities for several high technology companies, including Bezier Systems, Inc., a San Jose, Calif.-based manufacturer and marketer of laser printers; Adaptec, Inc., a San Jose-based laser printer controller developer; and Rastek Corporation, a laser printer controller developer located in Huntsville, Ala.. Bonar also was employed by IBM, U.K. Ltd. for approximately 17 years.

According to the release, other new directors include:

Dr. Richard H. Green, who also serves as a director for ITEC and Quik Pix, Inc. (Pink Sheets: QPIX). He is currently the president of International Power & Environmental Company (IPEC), a consulting company located in San Diego, Calif. From 1993 through 1995, he served as deputy secretary of the State of California Environmental Protection Agency (Cal/EPA).

Robert A. Dietrich, who also serves as a director for ITEC and Knowledge Foundations (OTC Bulletin Board: KNFD). Dietrich has served in executive management capacities at iCyberair Communications Inc., a privately-held telecommunications company with strategic interests in Internet communications and bandwidth expansion technologies; Semper Resources Corporation, a public natural resources holding company in Irvine, Calif., and CEI, Inc., a Santa Ana, Calif.-based commercial furnishings firm.

Eric W. Gaer, who is also a director of ITEC. Gaer has been the president and CEO of Arroyo Development Corporation, a privately-held, San Diego-based management consulting company.  From 1996 to 1998, he was chairman, president and CEO of Greenland. Over the past 25 years, he has served in executive management positions at a variety of high-technology companies.

Greenland has organized a new subsidiary, ExpertHR, to provide professional employer services (PEO) to small and medium size businesses. The PEO business provides a broad range of services associated with staff leasing and human resources management.

According to the release, rhe PEO industry collectively serves approximately 4 million work site employees in the U.S. The target market for the PEO industry is companies with 100 or fewer employees, a market of approximately 60 million people.