Cipherloc Corporation (OTCMKTS:CLOK) 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 Principal Officers; Election of Directors; Appointment of Principal Officers
On May 21, 2019 and June 12, 2019, the Board of Directors of the Company unanimously appointed Tom Wilkinson (“Wilkinson”) and Anthony Ambrose (“Ambrose”), respectively, as independent directors to the Board. On July 26, 2019, Michael De La Garza resigned as Chief Executive Officer of the Company. On August 11, 2019, Mr. De La Garza was terminated as an employee of the Company for cause. On August 11, 2019, Mr. De La Garza attempted to hold a Board of Directors meeting and did not provide notice of such meeting to three of the five directors. In addition, only two of the directors attended such meeting and therefore a quorum did not exist to hold the Board meeting.
On August 13, 2019, Mr. De La Garza and the Company (Mr. De La Garza did not have authority to file on behalf of the Company) filed for a temporary restraining order (“TRO”) in the District Court of Travis County, Texas 53rd Judicial District (the “Court”) against Wilkinson and Ambrose (the “Restrained Parties”) seeking the Restrained Parties be restrained and enjoined as follows:
| Order Granting Request for Temporary Restraining Order |
| –– |
CIPHERLOC Corp Exhibit
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About Cipherloc Corporation (OTCMKTS:CLOK)
Cipherloc Corporation is a technology and services based solutions company operating in the cloud-based cyber security industry. The Company offers an encryption technology with over five international patents, called CipherLoc. CipherLoc is a commercially viable polymorphic key progression algorithmic cipher engine (PKPA). This morphing cipher can be used in commercial data security industry and/or in sensitive applications, including banks, financial transactions, credit cards, securities, stock and bonds transactions, e-mail, phones, tablets, servers and or computers. This PKPA Engine eliminates replay attacks because the cipher morphs over time. CipherLoc also rejects data access and injection, false commands, and data alteration. CipherLoc is a facet of a layered defense in depth protection plan for any organization. The CipherLoc Polymorphic Cipher Engine provides an electronic gate that restricts access to vital assets, production facilities, and distribution systems.
