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CEATS, Inc. Appoints Sports-Industry Veteran & Noted Businessman Jeffrey Moorad Vice-Chairman & CNO

TYLER, Texas--(BUSINESS WIRE)-- CEATS, Inc. (CyberSEATS for Entertainment, Arts, Travel, and Sports), a unique patent-protected interactive software application for online ticketing that provides an online solution, today announced the appointment of sports industry-veteran, and former Vice-Chairman and Chief Executive Officer of the San Diego Padres Club, Jeffrey S. Moorad, as its Vice-Chairman and Chief Negotiation Officer. The company also announced that Mr. Moorad has made a significant investment in CEATS, Inc.

"I am excited to be part of CEATS, Inc. and am looking forward to being a part of the next chapter of the company's successful history. I believe in the CEATS cutting edge technology and believe it has universal applicability across the sports, entertainment, and hospitality spectrums," Moorad said.

Milford Skane, CEATS, Inc.'s Founder and Chairman added, "We are thrilled to have Jeff on board. His extensive sports experience, coupled with his expertise in business and negotiating make him the perfect fit for our company as we continue our efforts to protect our patented technology and create licenses for companies in the sports and entertainment space."

CEATS™, Inc., a Nevada Corporation, (“CEATS”) is an internet technology company that owns and develops patented technology which is widely used in various industries, including, the airline, travel, hotel, entertainment and sports venues.

In the late 1990s the management of CEATS commenced the development of a visionary design for the reservation and sale of online tickets, rooms, ship berth cabins, and event entertainment ticketing. CEATS founders developed a methodology whereby inventory driven databases could be joined to widely connected parties for the purposes of allowing live purchase selections. In 1998, the team raised funds to complete its invention and, in 1999, filed for the patents on its online, seat-specific ticketing and reservations process supported by a live, open, on-line system.

CEATS continues to develop software based on its innovative online ticketing technologies. It intends to market its online ticket sales service, which it will license to large and small customers requiring online ticketing services including, professional sports teams, entertainment events, and travel services. CEATS business strategy is to use its twenty (20) issued patents to develop patent and technology compliance in the airline, hotel, reservation and ticketing industries through negotiated licensing in these affected ticketing industries. This will include small to large ticket wholesalers, hotel, travel and related services and continue to procure additional patents thereby enhancing CEATS’ intellectual property rights in the future.

CEATS believes that the clearest pathway to the protection and monetization of its patent portfolio is (a) insulate its core technology by surrounding it with both new patents and continuation patents and (b) proactively license its technology to strategic ticketing partners. CEATS is presently engaged in both steps.

CEATS management has considerable relationships within the ticketing industry, including the major ticketing organizations. To further its objectives CEATS intends to enter into an initial joint venture or a meaningful agreement with a major ticketing entity.

It is this strategy that has resulted in the addition of sports industry-veteran Jeffrey S. Moorad.

Moorad currently serves on the Board of Directors at the Translational Genomics Institute (TGen) and is a Vice President for the Muscular Dystrophy Association. He formerly served on the public Board of Directors at sunglass and apparel manufacturer Oakley, Inc. until the sale of the company to Italian manufacturer, Luxottica. He co-founded social media company ProTrade and served on the Board of Directors of its successor company, Citizen Sports Network, until its sale to Yahoo! in 2010. Moorad has been an active member of the Young Presidents Organization (YPO) for 12 years and has belonged to YPO chapters in Newport Beach, Arizona, and San Diego. He currently serves on the Chairman’s Council for the San Diego Economic Development Corporation.

In 1999, Moorad sold three businesses: Athlete Direct, a sports technology firm which he and 18-year partner Leigh Steinberg had partnered with AOL; Integrated Sports International, a New Jersey-based sports marketing firm; as well as his core business, Steinberg & Moorad, which was sold to Winnipeg-based Assante Corporation. After serving nearly five years as the head of Assante’s Sports Management Division, Moorad was presented an opportunity of a lifetime and was named a member of the executive team of the Arizona Diamondbacks in 2004. While with Arizona, Moorad was a General Partner, Chief Executive Officer, the spokesman for the Diamondbacks ownership group, and oversaw the day-to-day operations of the franchise.

As a co-principal of sports representation powerhouse Steinberg & Moorad, Moorad demanded that his clients understand the responsibility of serving as role models in their community, encouraging them to contribute millions of dollars to community programs, including their own non-profit foundations and alma maters. Leading by example, Moorad endowed a baseball scholarship in 1994 to his alma mater UCLA and recently finalized a $5.0 million gift for the “Jeffrey S. Moorad Center for Sports Law” at his law school, Villanova University School of Law.

In March, 2009, Moorad and a mostly California-based group finalized an agreement to purchase the San Diego Padres over several years. In conjunction with the transaction, Moorad was named Vice-Chairman and Chief Executive Officer of the club, roles which he filled until August, 2012. After a significant re-structuring of the agreement, Moorad and his partners sold the Club for $800 million, the 3rd-highest ever price for an MLB franchise. While currently pursuing a number of new opportunities, Moorad has committed to teach a “Business of Sports” class as an Adjunct Professor at UCLA’s Anderson School of Management in the Winter Quarter.

Jeff Moorad was born and raised in Modesto, California. Moorad earned an Associate in Arts degree from Modesto Junior College in 1976, where he served as Student Body President. He then earned a degree in Political Science (B.A.) in 1978 from UCLA, and received his law degree from Villanova University School of Law (J.D.) in 1981.

for CEATS, Inc.
Amy Weiss, 202-203-0448
Amy@pointblankpa.com

Source: CEATS, Inc.