Form 8-K for RADVIEW SOFTWARE LTD
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of
Directors; Appointment of Principal Officers
(b) Departure of Director
On February 3, 2006, William J. Geary voluntarily resigned as a director of the Company. There is no disagreement between the Company and Mr. Geary relating to the Company's operations, policies, or practices.
(d) Appointment of Director
In accordance with the Company's articles of association, the Company's board of directors has appointed Yochai Hacohen as a director of the Company effective February 9, 2006 to serve until the next annual meeting of shareholders. Mr. Hacohen is a partner in Fortissimo Capital Funds G.P. L.P. ("Fortissimo").
As reported in the Company's Form 8-K filed on January 31, 2006, Fortissimo and the Company have entered into a term sheet for an investment by Fortissimo in preferred shares and convertible debt of the Company. Fortissimo has provided the Company with interim financing pursuant to a bridge loan agreement that provides for up to $500,000 of bridge loans, of which the Company has borrowed $200,000 to date.
Mr. Hacohen joined Fortissimo in May 2004 and became a partner in 2005. From October 2003 through May 2004, Mr. Hacohen served as the General Manager of a U.S. division of Magal Security Systems Ltd., a provider of hardware and software solutions for the surveillance market. From October 1998 through September 2002, Mr. Hacohen served as the Director of EMEA Sales and Marketing for the video recording division of Nice Systems Ltd., a provider of digital video and audio recording solutions. Mr. Hacohen received an MBA in marketing from Tel Aviv University. http://biz.yahoo.com/e/060209/rdvwf.ob8-k.html