March 5, 2010 (FinancialWire) — Systems Evolution (OTC: SSEV) has named Charlton Coats as its CEO. Mel Robinson, serving as the interim CEO, named a board consisting of Charlton Coats as CEO, Charlie Foster as the secretary and treasurer, Harold Zeller, and Mark Silva before resigning his position as the interim CEO.

Robinson will continue on at Systems Evolution as the fifth member of the board.

The company said that it has filed with the Office of the Idaho secretary of State the reduction of authorized common shares from 10 million to 7.5 million. It said that a second reduction will be filed when the board establishes the financial position of the company.

Systems Evolution said that its board is also expediting actions to bring pinksheets.com up to date and to be fully reporting “as soon as possible.”

Arkansas-based Systems Evolution has two subsidiaries, Highline Hybrids and Hoss Motor Sports.

FinancialWire(tm) is committed to serving the financial community through true journalism and providing relevant resources to investors. Standards-based, independent equity research on numerous public companies is available through the Investrend Research Syndicate (http://www.investrend.com/reports) written by FIRST Research Consortium (http://www.investrend.com/FIRST) member-providers. Free annual reports and company filings for companies mentioned in the news are available through the Investrend Information Syndicate (at http://investrend.ar.wilink.com/?level=279). FinancialWire(tm), in cooperation with the Investrend Broadcast Syndicate, also provides complete, daily conference call and webcast schedules as a service to shareholders and investors via the FirstAlert(tm) Network’s “FirstAlert(tm) Daily” (http://www.financialwire.net/news-alerts/).

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) website (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.