Megola Inc. (Megola) has hired Craig Wagenschutz as new chief financial officer (CFO), effective January 19, 2009. In this new role, Wagenschutz is responsible for development and implementation of the company's financial systems and processes and also business plans and strategies, revenue models and budgeting. He will work directly with the company's SEC Auditing firm to ensure financial compliancy of quarterly and year-end filings.

Wagenschutz is a graduate of Adrian College with a BA in accounting. He became a licensed CPA in 1984 and founded Wagenschutz & Associates CPA Firm in 1988. He is a current member of the Michigan Association of CPAs, the American Institute of CPAs and is a former member of Principa Alliance business development CPA advisors and Ran One business development CPA advisors.

Craig has been a valuable asset for Megola in the past, as a consultant, and now we are proud to finally add him to our organization as CFO, states Joel Gardner, president and chief executive officer of Megola. Craig’s accounting and business acumen, along with his attention to detail and organization, will be of huge benefit to Megola as we continue to work towards compliancy and our goal of moving back to the OTCBB.

Wagenschutz stated, I am thrilled to become a part of Megola and have the opportunity to work with the team and products that have been assembled. In my previous consulting roles with the company, I recognized the tremendous potential for Megola and I’m excited to be in a position to contribute in a larger way. My initial obligation will be to focus on compliancy issues and ensure timely and detailed financial reporting as we move forward.