South Beach Spirits, Inc. (OTC PINK: SBES) today announced that upon consummation of its pending acquisition of St, Martin Powerboats, LLC, Mr. Paul Spivak, St. Martin's president, founder, and sole member, will become the new chief executive officer and member of the board of directors of South Beach.
Paul Spivak is an innovative entrepreneur, design engineer, and inventor with over 30 years of experience in creating new high technology products and successfully developing four profitable startup companies. Initially designing electronic surveillance equipment for IBM, Motorola, and Westinghouse, he ultimately left his day jobs to pursue his own business ventures, inventions, and patents. His extensive knowledge of embedded microcontrollers, automotive electronics, and composites industries has allowed him to establish a well-earned reputation as a talented inventor and electronics expert with solid work certifications. During his career, he was granted several patents for alternative energy solutions for vehicles, linear motion applications for spray tanning techniques, and digital instrumentation for boats and automobiles.
Mr. Spivak is currently president, founder, and sole member of St. Martin, an Ohio based company engaged in watercraft design, manufacturing, and marketing, which will become a wholly-owned subsidiary of South Beach. Since 2012, he has been president, founder, and principal shareholder of US Lighting Group, Inc., a developer and manufacturer of patent pending LED lighting technologies, and since 1997, president, founder, and principal shareholder of Intellitronix, Inc., a developer of microprocessor controlled digital instruments for the high performance automotive "after-market" and marine industries. In 2002-2003, Mr. Spivak and a partner founded Magic Tan which developed and manufactured a "sun-less tanning" machine that became #1 in the industry within a one year period. Magic Tan was sold to a group of investors for $2.6 million in 2003.
Paul Spivak's other business interest include the research and development of practical uses of electronics in therapeutic applications. As founder of BioScience Systems, Inc., he has made significant contributions to bioelectronics with advancements in LED phototherapeutics, non-invasive amniocentesis, and non-invasive glucose monitoring.
Mr. Spivak commented, "I am very excited to be taking a lead role at South Beach and look forward to utilizing all my skills and experience to grow this company to its full potential for the benefit of all shareholders."
In addition, following completion of the St. Martin acquisition, Martin D. Ustin, the Company's CEO and a director, will continue with South Beach as president of its distilled spirits division and Vincent Prince, the Company's CFO and a director, will continue in his position as CFO.
About South Beach Spirits, Inc. South Beach Spirits, Inc. (OTC PINK: SBES) is a Florida-based holding company engaged in acquiring, developing, manufacturing, and marketing "lifestyle" products, including distilled spirits.