Earnest Mathis

Mr. Mathis was appointed as XELR8's Chairman and Chief Executive Officer in March 2005 and is involved with corporate strategy and the day-to-day operations of the Company's business and development. In addition, Mr. Mathis is also President and a director of Inverness Investments, Inc., a privately held financial consulting company, since January 1987. Since its inception in 1987, Inverness has completed numerous acquisitions of publicly held companies; Mr. Mathis served as the principal manager in most of those transactions. He has also been involved in several initial public offerings as an officer and director of the registrants. Since 1998, Mr. Mathis has also served as the Managing Director of AmeriGolf Holdings, LLC, a golf course development company. One of AmeriGolf's properties, The Golf Course at Redlands Mesa in Grand Junction, Colorado, was named “Best Affordable New Public Course in the United States” by Golf Digest in 2001. In January 2002, Mr. Mathis became one of the founding members of Waveland Ventures, LLC, a capital management company emphasizing economic redevelopment and stimulation programs for Government entities. He also has held a managerial position at Waveland Colorado Ventures, LLC, a certified capital company, since its formation in January 2002. Mr. Mathis has been a member of the Society of Security Analysts since 1990. In 1997, he participated in the then State Treasurer (now Colorado Governor) Bill Owens' Good Will Ambassador Program to China. His extensive high finance background is a valuable asset in driving sales, profits and shareholder value.