MANAGEMENT PROFILES

Key Officers

MICHAEL J. SIMON, Co-Founder, is CEO and majority owner of the Smart Systems group of companies, which develop and market proprietary technology for the acceptance of contactless bankcards at public transportation turnstiles and fareboxes. Before Smart Systems, Michael provided angel investments to ventures in New York and Japan. He has an extensive background in industrial real estate development, including science and laboratory uses. Michael lives in New York and Tokyo. He holds degrees from Columbia and Brown Universities.

JOHN J. LEE, Co-Founder and COO, is responsible for business development. Mr. Lee is an expert in fare collection and related systems. Before co-founding SpeAcq, Mr. Lee was General Manager of U.S. Operations for C&C Enterprise, a Korean transit integrator, and National Account Manager for a Samsung USA venture. Before that, he worked in Mr. Simon’s real estate and publishing companies for six years. Mr. Lee has a B.A. from New York University in Economics and Asian Studies. Born in Korea, he came to the U.S. at age 10 and was raised in Chicago. Mr. Lee is also a world-class player of the Asian strategy game Go; he has been U.S. champion many times and won 5th place in the World Amateur Championship.

Board of Directors

KEOL LEE, Founder and CEO, Dongdo Trading Co., Ltd. of Korea since 1985. Dongdo manufactures and distributes display LCDs and LEDs. Prior to that, he worked for Samsung. Mr. Lee was Vice Chairman of the Import Association of Korea and is currently a Director. He also is Vice Chairman of the Federation of Small and Medium Industries of Korea and serves on the Board of A-Stone Technology, a manufacturer of next generation cellular components. In 2000, Mr. Lee received the Presidential Medal of Honor as the most influential small-medium scale entrepreneur. Mr. Lee is a graduate of Seoul National University with an M.A. in Industrial Strategy. He is fluent in Japanese and English.