On March 27, 2020, the Board of Directors voted to fix the number of directors who serve on the Board of Directors of Paid, Inc. from five to three. As such, to the Bylaws and Delaware General Corporation Law, the terms of Mr. W. Austin Lewis IV and Mr. Allan Pratt expired on April 17, 2020 and did not renew for an additional three year term.

About PAID, Inc. (OTCMKTS:PAYD)

PAID, Inc. offers AuctionInc Software and BeerRun Software. The Company operates through three segments: Entertainment services, Shipping calculator services and Brewery management software. AuctionInc is a suite of online shipping and tax management tools assisting businesses with e-commerce storefronts, shipping solutions, tax calculation, inventory management, and auction processing. The application’s functionality and business is focused on real-time carrier calculated shipping rates and tax calculations. The product does have tools to assist with other aspects of the fulfillment process, but main purpose of the product is to provide shipping and tax calculations, and packaging algorithms that provide customers with shipping and tax solutions. BeerRun Software is a brewery management, and alcohol and tobacco tax, and trade bureau tax reporting software. Small craft brewers can utilize the product to manage brewery schedules, inventory, packaging, sales and purchasing.