NEW YORK--(BUSINESS WIRE)--Bay Acquisition Corp (formerly known as SecureLogic Corp.) (the "Company") (OTC: SLGI) announced today that the Board of Directors has appointed JP McCormick, 52, as the Company's new President and Chief Executive Officer, effective December 19. Mr. McCormick assumed office after the successful completion of the Goozex acquisition by Bay Acquisition Corp and the closing of the first phase of a planned $2 million private placement of the Company's common stock and warrants.
Mr. McCormick has substantial experience in managing Web-based businesses oriented toward online communities. Since 2002, Mr. McCormick has been Chief Financial Officer of Activeworlds, Inc., a Web-based virtual community. From 1999 through 2002, Mr. McCormick was Chairman of Activeworlds Corp., which was, at that time, a NASDAQ listed company. Mr. McCormick is a graduate of Kent State University, Ohio.
"I am excited to join Goozex and look forward to taking the Company to a new level in interactive entertainment." Mr. McCormick said. "With over $17 billion dollars in sales the video game industry has become main stream in all households. With an average price tag of $50 per game users are discovering that their used games have an intrinsic monetary worth that can be used to trade for other games. This has traditionally has been done in retail venues like Gamestop where gamers receive very low trade in values. The Goozex trading model allows users to receive a much higher trading currency for their used games that they can use to acquire other games of much higher value. I believe this premise provides Goozex with an unparalleled opportunity at a piece of this multi-billion dollar industry. I look forward to building Goozex into a world class games trading organization."
About Bay Acquisition Corp. dba Goozex
Goozex (short for "Goods Exchange") is a trading community for video games. It provides an advanced, feature-rich, and customer-acclaimed platform to trade products for other products. It was rated best in class by many industry experts, including Electronic Gaming Monthly, Games Radar and The Washington Post.
Through Goozex users get access to thousands of games across the nation while retaining the full market value of their gaming library. The Company provides users access to many games for Xbox 360, Windows (PC), Sony Playstation 3, PlayStation 2, PlayStation Portable, Nintendo Wii, Microsoft Xbox, PlayStation, Sega Dreamcast, GameCube, Gameboy Advanced, Nintendo DS, and Mac.
Goozex provides a unique trading platform for video games; members trade their products to other members and receive credit in the form of Points. They can then use their Points to order other products from other members. All items are assigned a specific Points value by Goozex, and each trade costs a minimal transaction fee paid to the Company when the member receives the item.