MGT Capital Investments, Inc. (OTCMKTS:MGTI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
ITEM 5.02
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DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS |
On November 18, 2016, the board of directors of MGT Capital
Investments, Inc. (the Company) appointed Mr.
John McAfee as the Companys Chief Executive Officer, effective
immediately. The appointment of Mr. McAfee is to the terms of
that certain Employment Agreement, dated May 9, 2016, as approved
by stockholders on September 8, 2016, and as included in the
Companys Definitive Proxy Statement, dated August 15, 2016.
Mr. McAfee is a technology innovator and industry leader that is
best known for starting the first software anti-virus company,
McAfee Associates, and sparking the growth of a new multi-billion
dollar industry. His experience at the cutting edge of computing
and software started while working with the pioneer giants of
modern computers and technology, including UNIVAC, Xerox, NASA,
Booz Allen Hamilton and Lockheed-Martin. McAfee is the founder of
several companies, including Tribal Voice, developer of one of
the first instant messaging platforms; QuorumEx, a biotech
research startup; and Future Tense Secure Systems, Inc.,
developer of a suite of mobile security apps including D-Central
and D-Vasive. McAfee also served on the Board of Directors of
Zone Labs, a network security company, and as technology
evangelist for Everykey, makers of the Everykey personal security
device. He has been a vocal advocate for cybersecurity and user
privacy, achieved through private industry and disruptive
technology.
| ITEM 7.01 | REGULATION FD DISCLOSURE |
On November 18, 2016, the Company issued a Press Release in
connection with the appointment of Mr. McAfee. A copy of the
Press Release is attached as Exhibit 99.1 hereto.
The information in this Current Report on Form 8-K furnished to
Item 7.01 shall not be deemed filed for the purposes of Section
18 of the Exchange Act, or otherwise subject to the liabilities
of that Section. This information shall not be incorporated by
reference into any registration statement to the Securities Act.
The furnishing of the information in this Current Report on Form
8-K is not intended to, and does not, constitute a representation
that such furnishing is required by Regulation FD or that the
information contained in this Current Report on Form 8-K
constitutes material investor information that is not otherwise
publicly available.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit | Description | |
| 99.1 | Press Release dated November 18, 2016 |
About MGT Capital Investments, Inc. (OTCMKTS:MGTI)
MGT Capital Investments, Inc. (MGT), through its subsidiaries, is engaged in the business of acquiring, developing and monetizing assets in the online and mobile gaming space, as well as the social casino industry. The Company operates through two segments: Gaming and Intellectual Property. MGT’s gaming portfolio includes a social casino platform Slot Champ. It also includes minority stakes in the skill-based gaming platform MGT Play and fantasy sports operator DraftDay Gaming Group, Inc. (DDGG). The Company’s subsidiaries include Medicsight, Inc. (Medicsight), MGT Sports, Inc. (MGT Sports), MGT Studios, Inc. (MGT Studios) and MGT Gaming, Inc. (MGT Gaming). Medicsight owns medical imaging software and has designed an automated carbon dioxide insufflation device on which the Company receives royalties from an international distributor. The software is designed to detect colorectal polyps during a virtual colonoscopy performed using computed tomography. MGT Capital Investments, Inc. (OTCMKTS:MGTI) Recent Trading Information
MGT Capital Investments, Inc. (OTCMKTS:MGTI) closed its last trading session down -0.03 at 1.30 with 98,733 shares trading hands.
