New BOD
last night RealBiz filed an 8k announcing the Resignation of 4 Directors effective April 11th and the Appointment of 4 replacement Directors effective April 12
Taken from 8K:
Section 5 – Corporate Governance and Management
Item 5.02 Election of Directors; Appointment of Principal Officers.
Departure of Directors or Principal Officers
Effective April 11, 2016, each of Donald P. Monaco, William Kerby, Douglas Checkeris and Pasquale M. LaVecchia resigned as directors. None of Messrs’ Monaco, Kerby Checkeris or LaVecchia’s resignations were because of any disagreements with us on matters relating to our operations, policies, and practices. Mr. Kerby also resigned his position as corporate secretary.
Appointment of Directors
On April 12, 2016, our board of directors appointed Thomas Grbelja, Warran Kettlewell and Mike Craig as directors to fill vacancies which existed on the board of directors resulting from the resignations of Messrs. Monaco, Kerby, Checkeris and LaVecchia on April 11, 2016. Pursuant to our bylaws, vacancies may be filled by a vote of the remaining directors.
Mr. Grbelja currently serves as our Chief Financial Officer. In addition, Mr. Grbelja purchased 200,000 units (“Units”) in our November 2015 private placement for $10,000. Each Unit consisted of one share of common stock and a 1-year warrant to purchase 1 share of common stock at an exercise price of $0.05 per share.
Mr. Kettlewell has voting investment and control of Cardar Investments Ltd., a current beneficial owner of more than 5% of our common stock. In addition, Cardar Investments purchased 1.5 million Units in our November 2015 private placement for $75,000.
Mr. Craig purchased 300,000 Units in our November 2015 private placement for $15,000. Mr. Craig was previously one of our directors from May 2014 to February 2015.
