Newport Digital Technologies, Inc. today announced the appointment of Don Danks as the Chief Executive Officer (CEO). Bringing more than 25 years of public company senior management experience, Mr. Danks has specific expertise in financing and developing the business model for early stage public companies.
Previously, Mr. Danks was the CEO for iMergent, Inc., an ecommerce software and services company listed on the American Stock Exchange. During his approximate 9-year tenure at iMergent, he oversaw annual revenue growth from $12 million to more that $150 million, improving the company’s market capitalization from under $3 million to a high of approximately $400 million.
Mr. Danks has also been involved in the creation, funding and development of several early-stage companies. He has raised more than $100 million in early stage capital, assisted in the development of business plans, recruited senior management, built institutional ownership and oversaw ongoing corporate finance needs.
“We are very excited to have Mr. Danks joining NPDT as our CEO,” stated NPDT Chairman Richard Damion. “We already have a stellar management team, and it will be strengthened by Mr. Danks’ prior experience in guiding companies from emerging revenue stages into aggressive revenue growth stages. Mr. Danks has the ability to clearly set the strategic vision for our company, our clients and our shareholders. He has strong ties to institutional investors and the capital markets in general, which will provide the resources to grow the company, allowing our management team to execute its business strategy.”
“My focus will be to support a very talented group led by our President, Weiling Tsao,” said Mr. Danks. “Weiling was instrumental in building graphic chip leader ATI into a world class organization that was ultimately acquired by AMD. My role here at NPDT will be to make sure he is focused on bringing NPDT’s RFID and Digital Signage product solutions to market, maximizing the revenue and earnings potential of this very unique company.
“In addition, my goal is to educate the investment community on NPDT’s unique, risk-managed and highly leveragable business model,” Danks added. “While NPDT is early stage, it has sophisticated and fully developed RFID and wireless digital signage products and solutions that are currently being introduced and channeled through Ingram Micro, with the potential to bring substantial and profitable revenue growth in the near term. Because of our relationship with Taiwan’s leading R&D institutes, III and ITRI, as well as our relationship with key engineering and manufacturing partners in Taiwan, NPDT has the potential to scale revenues quickly.”
According to the press release, the current NPDT CEO, Michael Lutton, will move up to the Vice Chairman position on the NPDT Board of Directors and will work closely with Mr. Danks.
Mr. Lutton commented, “I have known Don for more than 20 years and recruited him to come into NPDT as an advisor over a year and half ago. With his knowledge and understanding of NPDT’s business model, his skill set perfectly matches the needs and opportunities of the company. I look forward to working with him as a board member to maximize the potential of this business and am thrilled to have Don joining our team.”
NPDT President and COO, Weiling Tsao concluded, “Mr. Danks’ addition to the team will be very valuable to our execution going forward. His expertise in the public markets will allow me to do what I do best in building and scaling revenues of our current and future products. The shareholders will benefit from Mr. Danks’ involvement. I am very happy he is joining the NPDT family.”