AppYea, Inc. (OTCMKTS:APYP) 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 of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers
On February 7, 2020 the Company’s Board of Directors approved the employment contract of Todd Violette as the new CEO and the appointment of Todd Violette as a new Director and elected him to the position of Chairmen of the Board of Directors. See attached Exhibit 10.1.
Based upon AppYea, Inc. current financial position the Board of Director believed it was in the best interest of the Company to change its executive management team. Mr. Violette brings a wealth of experience to AppYea, having spent more than 24 years evaluating and participating investment opportunities across the capital structure of North American companies with a focus on OTC companies. Mr. Violette has worked in a management capacity as a chief executive officer, affecting corporate actions and implementing policies in order to maximize shareholder value.
AppYea has previously announced its participation and desire to be in the CBD and Hemp business Mr. Violette disclosed to the Board a potential conflict of interest regarding his outside participation in a project working with a team of experts building 55,000 sq. feet private hemp exaction facility in in Western Kentucky. Any opportunity resulting from this operation will first be brought to AppYea. Mr. Violette graduated of the University of Maryland College Park in 1992.
On February 7, 2020 the Company’s Board of Directors reached and approved terms of a separation agreement with former CEO Doug McKinnon. See attached Exhibit 10.2. Mr. McKinnon resigned for personal reasons. There was no disagreement with the Board regarding the Company\’s controls and procedures or public disclosure.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
In reviewing the agreements included or incorporated by reference as exhibits to this Current Report on Form 8-K, please remember that they are included to provide you with information regarding their terms and are not intended to provide any other factual or disclosure about the Company or the other parties to the agreements. The agreements may contain representations and warranties by each of the parties to the applicable agreement. These representations and warranties have been made solely for the benefit of the parties to the applicable agreement and accordingly, these representations and warranties may not describe the actual state of affairs as of the date they were made or at any other time. Additional information about the Company may be found elsewhere in this Current Report on Form 8-K and in our other public filings, which are available without charge through the SEC’s website at http://www.sec.gov.
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APPYEA, INC Exhibit
EX-10.1 2 apyp_ex101.htm EX – 10.1 apyp_ex101.htmEXHIBIT 10.1 EMPLOYMENT AGREEMENT This Agreement is made as of February 5,…
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About AppYea, Inc. (OTCMKTS:APYP)
AppYea, Inc. is a development-stage company. The Company is engaged in the acquisition, purchase, maintenance and creation of mobile software applications. The Company focuses on various categories, including social networks and gaming. The Company’s portfolio includes Disney/Universal Theme Park Wait Time Map Apps, Katsomoto Games and StreamMe. As of June 30, 2016, the Company had 85 published mobile applications in five different languages. The Company’s primary products are mobile applications. The Company develops internal mobile applications and also acquires existing mobile applications. The Company focuses on acquiring mobile applications that are in development, as well as mobile applications that are ready to be presented to the public. The Company focuses to market and sell its developed and acquired mobile applications under its own name.