Intellectual Property for Digital Receipts

Press Release


AfterBOT, Inc. Appoints New CEO

Atlanta, GA - September 19, 2002 - AfterBOT, Inc., the leading provider of digital receipt based sales audit and marketing services to the retail industry, announced today the appointment of John S. Simon as President and CEO. Simon replaces R. Stephen Schultz, Founder of the company, who will remain active with AfterBOT as Vice-Chairman of the Board of Directors. Simon's appointment is effective immediately.

Simon has more than 22 years of experience in the retail industry, including 14 years with QRS Corporation where he was a Founder in 1988 and helped develop, sell, implement, and operate the leading electronic commerce, supply chain solutions for the retail industry. Simon most recently served as QRS CEO from 1999 - 2001. Prior to the creation of QRS, Simon served in a variety of merchandising, store operations, and information services management positions with Carter Hawley Hale Stores, Inc., at the time a leading general merchandise retailer and subsequently acquired by Federated Department Stores, Inc.

Simon received his A.B. degree in Economics from Harvard College and his M.B.A. with Distinction from the Harvard University Graduate School of Business Administration. He is married and has three children.

"As AfterBOT begins its customer operations and revenue growth phase, John brings a proven track record of creating industry solutions, building recurring revenue, increasing customer satisfaction, and creating value for customers, employees and shareholders. We are very pleased and excited to have John join us as CEO," said AfterBOT Chairman of the Board, Mark Johnson. "We are confident that John is the right person to develop and implement the strategies that will continue to extend AfterBOT's leadership in using digital receipt solutions to improve profitability and revenue growth for our customers."

Steve Schultz has done an innovative and exemplary job in creating AfterBOT, developing the commercial applicability of the digital receipt standards and technology, and attracting the initial staff, shareholders, and customers. AfterBOT would not exist without Steve's vision and commitment and we are grateful to him for the direction and contributions he has shown over the last three years," Johnson continued. "In his new capacity as Vice-Chairman, Steve will focus on extending and leveraging the company's technology and intellectual property with third party solution providers, the Digital Receipt Alliance, and current and future partners."

I am very pleased to be joining AfterBOT at such an important and exciting time in its history. Having developed a unique solution that can provide both immediate short-term profit improvement and significant, long-term revenue enhancement for our customers, AfterBOT is positioned for substantial growth. I am looking forward to leading the AfterBOT team in creating what I believe will be another key initiative for the retail industry," said Simon.

AfterBOT has a tremendous opportunity ahead," continued Simon. "We need to focus on getting the industry to accelerate the adoption of the digital receipt standard and on increasing the number and depth of customer implementations of our sales audit and marketing services solutions through the use of the AfterBOT digital receipt. I am looking forward to balancing the strategic, operational, and day-to-day execution needs of an innovative company like AfterBOT. I love working with customers to improve the performance of the retail industry, and will enjoy continuing to do so at AfterBOT, building on the work Steve began almost three years ago."

About AfterBOT
AfterBOT, Inc., is the leading provider of digital receipt based sales audit and marketing services to the retail industry. AfterBOT's ReceiptsPLUSTM solutions provide significant reductions in post-sales expense and enhanced customer service related to transaction dispute resolution, product registration and recall notification, warranty validation and fraud prevention. ReceiptsPLUSTM also provides significant revenue and margin increases for both retailers and manufacturers with better consumer transaction information that improves the targeting, effectiveness, and efficiency of promotions, new product launches, market research, customer loyalty and other marketing programs. AfterBOT was founded in 2000 and is privately held. AfterBOT's investors include Chrysalis Ventures, River Cities Capital Funds, Prosperitas Investment Partners, and e-RM Ventures.

For Additional Information

Please Contact:

Alex Armstrong
Marketing Communications
AfterBOT, Inc.
4361 Shackleford Road
Norcross, GA 30093
(770) 564-5554 X2526
[email protected]

Statements contained in this press release which are not historical facts are forward-looking statements subject to risks and uncertainties.

AfterBOT is a registered trademark and ReceiptsPLUS is a trademark of AfterBOT, Inc. All other trademarks belong to their respective owners.

©2002 AfterBOT, Inc. All Rights Reserved.

Copyright © 2013 afterBOT Inc. All Rights Reserved.