News

New CFO joins Go Online Networks

March 24, 2002

BUENA PARK, Calif. - Go Online Networks Corp. (OTCBB:GONT), a company planning to install Internet kiosks in hotels, hired Michael Schumacher as its chief financial officer, according to a company news release.

Prior to joining Go Online, Schumacher was president of Schumacher & Associates Inc., a CPA firm.

Schumacher has served as CFO and director of Continental Investors Life Inc. and on the state of Colorado's CPA society committee.

He will also serve as comptroller for the company's Digital West Marketing group and assist in defining a profit plan for Digital West and Go Online Networks, the release stated.

Go Online Networks Corp., headquartered in Buena Park, Calif., is a technology holding company consisting of Digital West Marketing and its Go Online Kiosk Division.

Chatsworth, Calif.-based Digital West Marketing Inc. is a computer service firm that contracts with retail stores and computer hardware manufacturers to refurbish computer products returned by customers. Go Online Networks acquired the company in September, 2000.

Go Online Networks reported a net loss of $3.4 million for the fiscal year ended December 31, 2000, compared to $2.4 million for 1999. It brought in revenues for the fiscal year ended December 31, 2000 of nearly $1.3 million, mostly from its Digital West operation. In 1999, the company earned $89,749, half of which was from its now discontinued ShopGoOnline e-commerce division, and half from its kiosk division, according to forms filed in April with the Security and Exchange Commission.