QSGI is a development company of technology asset management services firms. Our audience is global, and we have experience in multiple sectors including:

• Technology Asset Management
• New Product Sales
• Used Product Remarketing
• Enterprise Maintenance
• Spare Parts Sales
• End of Lifecycle Management
• Hard Drive Destruction and Data Erasure
• Fee-Based e-Waste Disposal
• Green Recycling
• Bankruptcy Liquidation Services

Our mission is to generate value for our shareholders as well as for our other stakeholders including customers, vendors, partners, and employees. Our goal is to consolidate companies within our industry profitably, with minimal leverage. Our intent is to use our publicly-traded shares to acquire participating interests in, or complete ownership of, complimentary businesses. By investing in undervalued technology companies, we believe we can generate strong returns for our shareholders while providing liquidity for the companies’ prior owners.

Over the last 20 years, persisting through good times and bad, we have built a management team that has the experience to grow businesses, make tough choices, restructure operations when necessary, and increase shareholder value. We understand the dangers of excessive leverage, and we have worked through distressed conditions before. We are actively seeking companies that need a management overhaul or a quick turnaround.

Management

Marc Sherman

Chairman & CEO

Marc Sherman founded QSGI in August 2001 and has served as Chairman and Chief Executive Officer since then. Mr. Sherman previously served as a director and Chief Executive Officer of Intellesale, Inc. (and its predecessor, Universal Commodities Corp.) from December 1994 to July 2001. Intellesale, Inc., was a company that purchased and sold large volumes of off-lease/off finance excess, used, refurbished and “as-is” computer equipment and related products, and provided technology asset management to companies wishing to maximize the value of their computer equipment coming to the end of its useful or book lives. Prior to 1994, Mr. Sherman served in key positions in various family businesses. Mr. Sherman has over twenty seven years of experience in marketing, operations and executive management.

Dave Meynarez

Director & CFO

Mr. David J. Meynarez is a CPA licensed in Florida and has served as Chief Financial Officer of KruseCom since 2009. Over the past 15 years, he has held a variety of accounting, financial and operational positions in both large multi-billion dollar publicly traded companies as well as small entrepreneurial startups, has participated in numerous M&A transactions from due diligence to integration and capital expansion projects for capacity increases and cost mitigation, has worked with and helped implement large ERP and small accounting packages, and has worked at companies in technology, heavy building materials and energy industries. He started his career in public accounting at Deloitte and Touche and earned both a bachelor’s and master’s degree in accounting from the Florida Atlantic University. There is no family relationship between Mr. Meynarez and any other officer or director of the Company.

David Harris

Vice President of Information Technology

David Harris has long worked with Marc Sherman in various companies. David manages the entire QSGI information network, maintains the company’s hardware, directs the company’s technical staff, and heads the team of traveling engineers who perform onsite work for QSGI customers. David has been instrumental in developing the proprietary tools that keep QSGI’s services competitive in an ever changing market.

Hank Laws

Vice President of Business Development

Hank Laws joined QSGI in January of 2008, and is currently responsible for marketing and new business development. Hank manages a team of business development representatives who are charged with soliciting used equipment from end user companies. The business development team brings surplus assets into the warehouse, and the Eatontown team sells them out to the market. Hank brings to the company a long history of sales, sales training, sales managent, and entrepreneurship. He has owned and/or managed multi-million dollar businesses in the past, and contiues to employ that experience for the benefit of QSGI. A native of Birmingham, Alabama, Hank earned his Bachelor’s degree in Economics from the University of Virginia. He lives with his wife and daughter in West Palm Beach, FL.

Independent Board Members

Benee Scola

Ms. Benee Scola is the president and founder of Benee Scola and Company, realtors in Harvey Cedars, Long Beach Island, New Jersey. Her company was established in 1995 and is a consistent leader in the market it serves, representing high net worth individuals. Since 1987, she has been a top producing real estate broker in Long Beach Island, New Jersey and is a successful real estate investor. She was a Board of Trustee member in 2007 and 2008 for the non-profit Long Beach Island Foundation for the Arts and Sciences in Loveladies, New Jersey. She headed the Foundation’s marketing and membership committees and was elected to serve as an executive board member. She also was elected and served on the Borough Council of Surf City, New Jersey. There is no family relationship between Ms. Scola and any other officer or director of the Company and her company is not a parent, subsidiary, or other affiliate of the Company.

William J. Barbera

Mr. William J. Barbera is a CPA licensed in Pennsylvania and founder of the firm, Barbera & Associates, PC. He has been in public practice for 20 years. He is a graduate of St. Joseph’s University in Philadelphia, Pennsylvania and was a Board member of Access Services, a $24 million non-profit organization helping the mentally and physically handicapped for 6 years and was a member of their Audit committee. He has a diversified career in both corporate management and public practice. He enjoys helping small business entrepreneurs with their start-up phase and then providing the business council that helps them grow their businesses. His clients range from start-up to $20 million in sales. In addition to accounting services, he specializes in tax strategies, planning and preparation. His clients include manufacturers, service providers, medical & dental practices, professional athletes and many other corporate and personal clients. There is no family relationship between Mr. Barbera and any other officer or director of the Company and his company is not a parent, subsidiary, or other affiliate of the Company.

David K. Waldman

Mr. David K. Waldman is the president and founder of Crescendo Communications, LLC, a leading New York City-based investor relations firm. He has a long and successful track record working with publicly traded companies of all sizes and across a wide range of industries, including telecommunications, technology, industrial, financial, medical, and business services. He has built a reputation as a leading expert on communications best practices and has developed an extensive network on Wall Street. He has provided communications counsel to senior members of management across a wide range of issues, including M&A, management changes, earnings surprises, crisis communications, Reg-FD disclosure, etc. Prior to founding Crescendo Communications, Mr. Waldman served as vice president at a leading New York City based investor relations firm, as well as two other premier investor relations firms. Mr. Waldman also brings in-house IR experience having handled the investor relations for a multi-billion dollar satellite telecommunications company. He has a Bachelor of Science degree in Communications and Political Science from Northwestern University. There is no family relationship between Mr. Waldman and any other officer or director of the Company and his company is not a parent, subsidiary, or other affiliate of the Company.

Investors

QSGI, Inc.

SYMBOL: QSGI

Email: info@QSGIinc.com

Status: QSGI is currently in Chapter 11. On February 2, 2011, Erik P. Kimball, Judge – United States Bankruptcy Court issued an Order (I) APPROVING DISCLOSURE STATEMENT; (II) SETTING HEARING ON CONFIRMATION OF PLAN; (III) SETTING HEARING ON FEE APPLICATIONS; (IV) SETTING VARIOUS DEADLINES; AND (V) DESCRIBING PLAN PROPONENT’S OBLIGATIONS

QSGI Emerging From Chapter 11 Reorganization

QSGI, Inc. announced that on March 21, 2011 its Plan of Reorganization (the "Plan") was confirmed by the U.S. Bankruptcy Court, Southern District of Florida, West Palm Beach.  The final order confirming the plan will be recorded as early as today.  As part of the Plan, QSGI will merge with KruseCom in a stock-for-stock transaction and is expecting to emerge from bankruptcy in approximately 60 days. Under the plan, stockholders retained their common shares.

According to Marc Sherman who serves as Chairman and CEO of QSGI, Inc., "The combination of QSGI with its restructured balance sheet and ties to large customers and investment markets and KruseCom with a profitable operation in a corollary business, deep management strength and strong balance sheet will provide a great launching pad to capitalize on the fragmented information technology services market." 

About QSGI, Inc.:

QSGI Inc operates as a technology service provider, offering a full suite life-cycle for its corporate and government clients' entire information technology platform.  On July 2, 2009, QSGI, Inc., along with its affiliate, filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Florida.

KruseCom, LLC Summary:

Founded in September of 2009, KruseCom offers comprehensive solutions for I.T. Asset Management. KruseCom's specialties include Secure and Certified Onsite Data Erasure, Data Center Maintenance, and End-of-Lifecycle Services for everything in Information Technology.

Company Officers