ITEM 5.2 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers On April 1, 2008, the Company's shareholders, after notice, called a Special Meeting of Shareholders. A majority of shareholders was present and new directors were elected. The directors that were elected were Mike M. Davoudian, Dr. Long Nguyen and Dawn Smith. On April 17, 2008, the Board of Directors held a meeting and dismissed Joseph Gutierrez as CFO and President effective immediately.
Mr. Davoudian is the president of a building management company, a position he has occupied since 2004. Dr. Nguyen is a published writer and poet and a real estate investor. He holds a Ph.D. from the University of California at Berkeley. Dawn Smith has an extensive background in recruiting and communications. She holds a degree from the University of Southern California. Presently, Ms. Smith is an independent contract recruiter and public relations consultant.
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