interesting.. in 10k, "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Pursuant to a Board resolution dated March 28, 2016, the Board appointed Robert C. Taylor to fill one of the two director vacancies on the Board. Subsequently, the Board accepted the resignation of Joseph C. Cannella as Director, President and Secretary/Treasurer of the Company. Mr. Cannella decided to resign his management positions with the Company to pursue other interests. He has not expressed any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. On that same date, the Board appointed Mr. Taylor to serve as the President, Secretary and Treasurer of the Company.
Mr. Taylor is 82 years old and owns and operates a vehicle leasing company. Mr. Taylor’s experience (See Item 10, below) owning and operating his own vehicle leasing business may prove helpful in our search and selection of a business opportunity. During the past ten years he has not been involved in any legal proceedings that are material to an evaluation of his ability or integrity. Prior to his appointment, Mr. Taylor was a less than 5% shareholder of the Company and he has no family relationship with Mr. Cannella.
The Company has not entered into any written compensation agreement with Mr. Taylor as of the date of this report, but the Company may enter into such an agreement in the future.
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All posts are strictly my opinion and are not buy or sell recommendations.
