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Jeffrey McGonegal Appointed to
Imagenetix Board of Directors and Appointed Chairman of the Audit Committee
and Its Financial Expert
September 27, 2005
SAN DIEGO--(BUSINESS WIRE)--Sept. 27, 2005--Imagenetix,
Inc. (OTCBB:IAGX - News), www.imagenetix.net a company focused on
inflammation and inflammation related markets, today announced the
appointment of Jeffrey G. McGonegal to the Imagenetix Board of Directors
and his appointment as Chairman of the Audit Committee and the Audit
Committee's Financial Expert.
In 1974, Mr. McGonegal
began his career as a Certified Public Accountant with the internationally
recognized public accounting firm of BDO Seidman, LLP ("BDO").
While in the Atlanta office, Mr. McGonegal held the position of Audit
Partner and was selected to manage and grow the firm's Denver Office,
as Managing Partner, where he finished his career with BDO 23 years
later. While with BDO, he focused on accounting and auditing aspects
of public accounting with additional training in strategic tax matters.
He also has extensive specialized training in communication, facilitation,
and personnel service skills, as well as sales and marketing of products
and services.
Mr. McGonegal has unique in-depth expertise in merger
and acquisition matters, in analyzing financial alternatives for
growth oriented companies, and in SEC and public reporting compliance
including private offerings, IPOs, and secondary offerings. He also
has extensive hands-on experience in working with growing companies
to achieve enhanced shareholder value.
"I am impressed with the quality at Imagenetix," stated
McGonegal. "They have surrounded themselves with an internationally
recognized law firm for their pharmaceutical patent filing, one of
the nation's most prestigious accounting firms for audits, and an
elite group on their Scientific and Medical Advisory Board to assist
the Company in going beyond the 20 plus scientific studies that they
have completed to date. I am very pleased to accept the appointment
to both the Board and to the Audit Committee and look forward to
assisting Imagenetix as they execute their plans to develop pharmaceuticals
and continue with their roll-out of existing products."
Bill Spencer, CEO of Imagenetix said, "Mr. McGonegal has vast
experience in assisting public companies with growth and overall
financial strategies. He has solid expertise in communicating with
top level management, law firms, and accounting firms and assisting
companies with SEC and regulatory compliance adherence issues dealing
with the SEC and other regulatory bodies. It is a great privilege
to have Jeff join the Board and chair the Audit Committee."
After 23 years with BDO Seidman, Mr. McGonegal left in 1997 to pursue
consulting opportunities and to focus on public companies and companies
positioning themselves to undertake public offerings. From 1997 to
present he has been the Principal of McGonegal and Co. From 2000
through present, he has been Senior Vice-President of Finance for
Advanced Nutraceuticals, Inc. ("ANII"). From 2003 through
present he has been Chief Financial Officer and from late 2004 to
early 2005 has been interim President for AspenBio, Inc. ("APNB").
From 2003 to present he has been Chief Financial Officer for A4S
Security, Inc. ("SWAT").
About Imagenetix
San Diego based Imagenetix, Inc. (OTCBB:IAGX - News), www.imagenetix.net,
is focused on inflammation. With its patent pending compound, Imagenetix
is focused on developing pharmaceuticals for inflammatory diseases. With
its natural based, proprietary products, the Company is focused on inflammation
related markets. Imagenetix develops, formulates, private-labels, and
produces nutritional supplements, over-the-counter topical creams, and
skin care products to address these markets. |
