Amarillo Biosciences, Inc. (OTCMKTS:AMAR) 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.
Departure and Appointment of Certain Officers
Effective February 3, 2019, Dr Steven T Chen assumed the duties and title of Chief Financial Officer of the Company (CFO), in addition to his present duties and titles of President, CEO, and Chairman of the Board; and effective the same date, Bernard Cohen, heretofore Vice President and CFO, relinquished the duties and title of CFO, and assumed the duties and title of Vice-President- Administration; in both cases, by resolution of the Board of Directors of the Company. Compensatory arrangements were not changed for either Dr Chen, or Mr Cohen. Dr Chen has been the Company’s CEO since 2012.
Effective February 3, 2019, the Board of Directors ratified an Accounting Consulting Agreement (the “Agreement”) entered into December 28, 2018, with Small Business Suite, Inc, a California corporation with principal office in Austin, Texas (SBS). Under the Agreement, SBS, through its principal, William Yoo, will render bookkeeping and accounting consulting services to the Company through December 27, 2019, unless terminated by either party upon ninety (90) days prior written notice. SBS shall be compensated at the rate of $6,000 per month, plus $150.00 per hour for hours above forty (40) hours per month. The relationship of SBS to the Company is that of independent contractor, not employee, and neither SBS nor its principal, Mr Yoo, is entitled to any employee fringe benefits.
About Amarillo Biosciences, Inc. (OTCMKTS:AMAR)
Amarillo Biosciences, Inc. is engaged in the business of biopharmaceutical research and development. The Company develops biologics for the treatment of human and animal diseases. The Company’s focus is research aimed at the treatment of human disease indications, particularly influenza, hepatitis C, thrombocytopenia and other indications using natural human interferon alpha that is administered in a low dose oral form. The Company owns or licenses approximately two issued patents related to the low-dose oral delivery of interferon and it owns an issued patent on its dietary supplement, Maxisal. It has a pending patent, which applies low dose oral interferon to the treatment of Thrombocytopenia.
