- The company participated in the Roth Conference in order to introduce me to investors and introduce my plan for the Company's future. We are not seeking additional capital, and fund-raising was not part of our agenda at the Roth Conference.
- When our group invested in PDN, we did so after an extensive search for companies that could help us establish commercial operations in China to deliver education, training and networking services to affluent Chinese people.
- One of the reasons we selected PDN was because of its employees and management team. We have intentionally kept the senior managers in place since we invested in the Company. While PDN's former CFO left at the end of 2016, he did so in order to pursue an opportunity to become COO of another company, and he remains PDN's good friend. Ultimately, we conducted an extensive search and interview process and replaced him. All other senior management remains in place. We transitioned the Company's former CEO to become the CEO of the NAPW division, as that was her former position and it was always my intent to become the PDN CEO following our investment.
- I am prepared, qualified and well suited to lead the Company. My professional experienced includes being a respected and qualified attorney who is licensed in good standing. Upon my appointment as PDN CEO, I resigned from my previous position where I was a senior executive of GNET, a Chinese company in good standing that specializes in on- and offline commercial activity.
- Our investment process included our voluntary submission to the Committee on Foreign Investment in the United States (CFIUS). We were successfully cleared by CFIUS to invest in PDN and our funding was subject to regulatory clearance under the Patriot Act.
Sincerely,Michael Wang, CEO Professional Diversity Network About Professional Diversity Network ( www.prodivnet.com) Professional Diversity Network, Inc. (PDN) is an Internet software and services company that develops and operates online professional networking communities dedicated to serving diverse professionals in the United States and employers seeking to hire diverse talent. Our subsidiary, National Association of Professional Women (NAPW), is a networking organization of professional women spanning more than 200 industries and professions. Through an online platform and our relationship recruitment affinity groups, we provide our employer clients a means to identify and acquire diverse talent and assist them with their efforts to comply with the Equal Employment Opportunity Office of Federal Contract Compliance Program. Notice Regarding Forward-Looking Statements This press release contains certain forward-looking statements, including statements related to our business and strategies. Any such statements may be influenced by a variety of factors, some of which are beyond PDN's control, that could cause actual outcomes and results to be materially different from those projected, described, stated or implied in such forward-looking statements due to a number of risks and uncertainties. Factors that could contribute to such differences include, but are not limited to, potential insufficiency of the proceeds from the share issuances to implement our productivity improvement initiatives, our potential failure to realize synergies and other benefits from the transaction with Cosmic Forward Limited and the risk factors disclosed in our Annual Report on Form 10-K filed on March 30, 2016, as amended and any subsequent filings made by us with the SEC. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K filed on March 30, 2016, as amended, together with this press release, are available on our website, www.prodivnet.com. Please click on "Investor Relations."
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