Yesterday a new 8-K came out
Item 1.01 Entry into a Material Definitive Agreement
As of March 16, 2020, a Share Exchange Agreement was executed by Hydro Power Technologies, Inc. and Mountain Share Transfer, LLC. As Trustee, which provided for the Trustee to exchange 100% of the shares of Hydro Power Technologies, Inc. for shares of Playbox(US), Inc. The Company, Playbox (US), Inc., obtained One Hundred Percent (100%) control of the assets, contracts, including but not limited to intellectual property, and the ongoing management of the business of Hydro Power Technologies, Inc. under Playbox(US), Inc.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On February 4, 2020, a Shareholder Meeting was held pursuant to a Shareholder Proxy for Special Meeting of the Shareholders which was mailed on January 13, 2020.
There were no shareholders present at the teleconference meeting. Mountain Share Transfer, LLC, the Transfer Agent and Meeting Host, received proxy votes from 15 shareholders where the majority of the shareholders voted and approved the ratification of the following Officers and Directors:
Michael Shamber, President/Director
Calvin Lucyshyn, CFO,
Darren Timmer, Secretary, Treasurer,
Marlene Schluter, VP, Bus. Affairs, Manager, Corporate Governance,
John Versfelt, Director of the Company
The biographical information for the new Officers and Directors is as follows:
Michael Shamber - President/Director
Michael joined Hydro Power Technologies, Inc in August 2013 as President. Michael's previous roles included Vice President of Acquisitions at International Properties Group Ltd. a publicly held real estate corporation. Michael was a key facilitator of large and complex commercial real estate transactions and successfully transitioned into the role of Vice President at Mortgage Alliance Canada. Over the last 14 years, Michael was responsible for key account relationships for both public and private sector clients. Currently Michael is overseeing the transition of the company to a publicly traded entity. Michael will manage all vendor financial plans and prepare budgets, tax structures and strategies as required.
Calvin Lucyshyn - CFO
Mr. Lucyshyn is a Director and CFO of Credent. Mr. Lucyshyn, a chartered accountant since 1993, has held financial control and reporting positions in the drilling industry for over eighteen years. From 1994-2005 he was the Controller for Westbay SonshipYacht Builders Ltd., a semi-custom builder of fiberglass motor yachts. From 1998 to 2003 he was the Financial Controller at The Crossing Company Inc., a civil engineering horizontal drilling company operating in Canada and the USA. He is currently the CFO/Controller of Cabo Drilling Corp., a drilling service contractor for the mineral exploration industry, with locations throughout Canada, Central and South America, and Western Europe, a position he has held since 2005, and the CFO for IMMC, a position he has held since 2006. Mr. Lucyshyn was the Director and CFO of Fortify Resources Inc. from July 2015 to November 2016. Mr. Lucyshyn was the CFO of Cabre Capital Corp. from March 2010 to June, 2011. Mr. Lucyshyn earned a Bachelor of Commerce degree from the University of Saskatchewan in 1990. Mr. Lucyshyn will devote such time and expertise as is reasonably required by the Resulting Issuer.
Darren Timmer - Secretary, Treasurer
Mr. Timmer is Corporate Secretary of Credent. Mr. Timmer has 13 years of regulatory and policy experience. He has worked for Cabo Drilling since 2005, and is currently Corporate Secretary, a position he has held since 2011. Mr. Timmer is also Corporate Secretary for IMMC and Fortify Resources. Mr. Timmer was the President of Coquitlam Search and Rescue Society, from 2014
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to 2016 and a Board Member from 20018 to 2018. Mr. Timmer earned a Bachelor of Science (Honors) in Geography from the University of Victoria in 2001 and a Master of Arts in Geography from the University of Guelph in 2004. Mr. Timmer will devote such time and expertise as is reasonably required by the Resulting Issuer.
Marlene Schluter VP, Bus. Affairs, Manager, Corporate Governance
Vice President, Corporate Governance On board of Hydro Power Technologies, Inc in June 2014 as Vice President of Corporate Governance Marlene is currently responsible for all compliance, corporate resources, regulatory requirements while working in partnership with the Board to ensure corporate mission statement, strategic initiatives and social responsibility. As one of a few female senior executives in the hydropower generation industry; Marlene brings more than 25+ years of global experience working with SME's, public corporations, merchant banks, social enterprises, NGO's and regulatory agencies. Prior to joining Hydro Power Technologies, Inc. (HPT), Marlene co-developed and led three start-up businesses in mining, technology and M/A sectors where she held senior roles with corporate finance, regulatory compliance, capital raise transactions and corporate resources . Marlene maintains professional association with Women's Executive Network WXN, Vancouver Board of Trade, 100 Women Who Care and Variety Children's Charity and retains licenses with the Canadian Securities Institute Series 7/63 ( NASD)- US securities broker, and alumni of Ivey Executive Leadership Program form Western University. Marlene holds a Bachelor of Education (Economics) from Simon Fraser University and an MBA from University of British Columbia in International Business. Serves on several boards of public and private companies, acts as an advisor and held senior leadership roles as COO, CFO and VP.
John Versfelt - Director
Mr. Versfelt is a Director, President and CEO of Credent; and a Director, Chairman, President and CEO of Cabo Drilling Corp., a Canadian drilling services company. He has been an officer of Cabo Drilling Corp. since 1992. He is a Director, President and CEO of International Millennium Mining Corp. (“IMMC”), a mineral exploration company and has been an officer of it since 1992. Both of these companies are British Columbia/Alberta reporting issuers trading on the TSX-Venture Exchange.
Mr. Versfelt is also currently a Director of Fortify Resources Inc., a reporting issuer in British Columbia, Alberta and Ontario, listed on the Canadian Securities Exchange. Mr. Versfelt was a director of Cabre Capital Corp., Avian Capital Inc., and Open EC Technologies Inc., and is currently the President of American Resource Management Consultants Inc., a private company that has provided management consulting, accounting, administration and paralegal/regulatory services to numerous private and public companies since 1982.
Mr. Versfelt earned a Bachelor of Arts (Commerce) from Simon Fraser University in 1976.
Item 8.01 Other Events
As of March 6, 2020, the Company has retained Matthew McMurdo, Esquire, New York, New York, as SEC Compliance Counsel. Mr. McMurdo\s offices has agreed to provide Legal Representation to OTC Markets and provide the Company with ongoing SEC Compliance.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit Number Description
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