By this press release it looks to me like there was an agreement not to prosecute Frank which in my opinion is a bunch of crap!
14-Jun-2016
Change in Directors or Principal Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers.
On June 8, 2016, Wordlogic Corporation (the "Company") received the resignation of Frank Evanshen from all of his positions with the Company, including President, CEO and as Director.
Mr. Evanshen's resignation was not due to any disagreement with the Company on any matter relating to its operations, policies or practices
On June 8, 2016, a majority of the shareholders of the Company, by written consent resolution, appointed Les Hughbanks, John Goodman and Ian Dowding to the Company's Board of Directors. Mr. Dowding will serve as the Chairman of the Board. In addition, on June 8, 2016, the Board of Directors of the Company appointed Ian Dowding as President and Chief Executive Officer.
Since November 2007, Mr. Dowding has been a Director of Goldthorpe Investments Inc, a private company. Mr. Dowding has not held any other directorships in a company with a class of securities registered pursuant to section 12 of the Exchange Act or subject to the requirements of section 15(d) of such Act or any company registered as an investment company under the Investment Company Act of 1940.
John Goodman has been retired for the past 5 years and has not held any other directorships in a company with a class of securities registered pursuant to section 12 of the Exchange Act or subject to the requirements of section 15(d) of such Act or any company registered as an investment company under the Investment Company Act of 1940.
Since 1997, Les Hughbanks has been the President and Chief Executive Officer of Hunter International Trading Company, Inc., a private company. Mr. Hughbanks has not held any other directorships in a company with a class of securities registered pursuant to section 12 of the Exchange Act or subject to the requirements of section 15(d) of such Act or any company registered as an investment company under the Investment Company Act of 1940.
Messers. Hughbanks, Goodman and Dowding will serve as the Company's Directors and officer until their duly elected successor is appointed or they resign. There are no arrangements or understandings between Messers. Hughbanks, Goodman and Dowding and any other person pursuant to which they were selected as an officer or director. There are no family relationship between Messers. Hughbanks, Goodman and Dowding and any of the Company's officers or directors.
