Moving iMage Technologies Mourns the Loss of Chief Financial Officer Michael R. Sherman

Rhea-AI Summary

Moving iMage Technologies (NYSE American: MITQ) announced with deep regret the passing of CFO Michael Sherman on November 30, 2022. Sherman, who joined as CFO in July 2018, significantly contributed to the company’s IPO preparation in July 2021. His finance and accounting expertise was vital to the company's public strategy. CEO Phil Rafnson expressed profound sadness over Sherman's loss, emphasizing the strong familial bonds within the organization and extending condolences to Sherman's family.

Positive

• Sherman played a key role in the company's IPO preparation in July 2021.

Negative

• The loss of CFO Michael Sherman may create uncertainty in the company's financial leadership.

FOUNTAIN VALLEY, Calif.--(BUSINESS WIRE)-- Moving iMage Technologies (NYSE American: MITQ) ("MiT") today announced the passing of chief financial officer Michael “Mike” Sherman on November 30, 2022.

“It is with deep regret and profound sadness that I announce Mike’s passing yesterday afternoon. The Sherman’s have been family to many of us at MiT for over 20 years, and the loss of my colleague and friend has been extremely difficult. Mike will be sorely missed. My deepest condolences go out to the Sherman family,” said Phil Rafnson, chairman and CEO.

Sherman joined MiT as CFO in July 2018. He played a key role in preparing the Company for its IPO in July 2021 and drove the Company’s finance and accounting strategy as a public company. He began his career at Coopers & Lybrand and subsequently held a variety of corporate and division finance and accounting leadership roles for both public and private enterprises.

About Moving iMage Technologies

MOVING iMAGE TECHNOLOGIES (NYSE American: MITQ) is a leading provider of technology, products, and services to the Motion Picture Exhibition industry. We sell proprietary products, which we design and manufacture in-house, and are developing, introducing, and supporting a wide range of disruptive technologies that will bring SaaS and subscription-based products. Our Caddy brand of proprietary products is a leading provider of proprietary cup holders, trays, and other products to entertainment and sports venues. Based in Fountain Valley California, our 28,000 sq. ft. facility is home to our corporate offices, engineering & manufacturing, distribution, integration, and service and support divisions. Our strategic location is augmented by a global network of service partners & OEM manufacturers. For more information, visit www.movingimagetech.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221201005437/en/

Moving iMage Technologies Investor Relations and Media Contacts:

Brian Siegel, IRC®, M.B.A.

Senior Managing Director

Hayden IR

(346) 396-8696

brian@haydenir.com

Source: Moving iMage Technologies

FAQ

Who was Michael Sherman and what was his role at MITQ?

Michael Sherman was the Chief Financial Officer at Moving iMage Technologies, who joined the company in July 2018 and played a pivotal role in its IPO in July 2021.

When did Michael Sherman pass away?

Michael Sherman passed away on November 30, 2022.

What impact might Michael Sherman's passing have on Moving iMage Technologies?

Michael Sherman's passing may lead to uncertainty regarding the company's financial leadership and strategy.

What is MITQ's focus in the market?

Moving iMage Technologies focuses on providing technology, products, and services to the Motion Picture Exhibition industry.