CONTENT CHECKED HOLDINGS, INC. (OTCBB:VSTT) 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
Arrangements of Certain Officers.
(c) On December 9, 2016, Content Checked Holdings, Inc. (the
Company) appointed John Ballard as the Companys Chief Financial
Mr. Ballard, age 58 Prior to his appointment as the Companys
Chief Financial Officer, Mr. Ballard served as the Chief
Financial Officer of Worldwide Energy and Manufacturing USA,
Inc., an international contract manufacturing company located in
California with factories in China, since February 2014. From
October 2011 to May 2014, Mr. Ballard also served as the Chief
Financial Officer of Goliath Film and Media Holdings. Mr. Ballard
has more than 26 years of business management, project management
and accounting experience, including serving as the Chief
Financial Officer of several public companies. Mr. Ballard
received a Bachelor of Science Degree in Management and Marketing
from the University of Colorado, where he graduated Magna Cum
Laude, and a Masters of Business in Administration from Regis
There is no arrangement or understanding between Mr. Ballard and
any other persons to which Mr. Ballard was appointed to his
position. There are no family relationships between Mr. Ballard
and any of the Companys officers or directors. Other than as
described herein, there are no other transactions to which the
Company or any of its subsidiaries is a party in which Mr.
Ballard has a material interest subject to disclosure under Item
404(a) of Regulation S-K.
In connection with his appointment, on December 9, 2016 (the
Effective Date), the Company entered into a Consulting Agreement
(the Consulting Agreement) with Mr. Ballard, to which Mr. Ballard
agreed to be appointed as the Companys Chief Financial Officer
and provide certain financial operations and other services to
the Company as an independent contractor. Mr. Ballard will report
directly to Kris Finstad, the Companys Chief Executive Officer
and the Companys Board of Directors (the Board). As compensation
for such services, the Company agreed to (i) pay to Mr. Ballard a
cash fee of $5,500 per month and (ii) issue to Mr. Ballard
300,000 restricted shares of the Companys common stock within 30
days of the Effective Date. The Board may award to Mr. Ballard in
the future such other cash and/or equity incentive compensation
as it determines to be appropriate for the services that Mr.
Ballard is providing to the Company. Other than as set forth in
this Current Report on Form 8-K (this Current Report), no other
grant or award has been made to Mr. Ballard in connection with
his appointment. The term of the Consulting Agreement commenced
on the Effective Date and, unless terminated prior thereto, with
or without cause, with 30 days notice to the other party, shall
continue for a period of 24 months. Following the term, the
Consulting Agreement shall automatically terminate unless
extended prior thereto as agreed to by the parties. The
Consulting Agreement contains a covenant for the benefit of the
Company relating to the protection of the Companys confidential
The foregoing description of the Consulting Agreement does not
purport to be complete and is qualified in its entirety by
reference to the full text of such agreement, which is filed as
Exhibit 10.1 to this Current Report and is incorporated herein by
Item 9.01. Financial Statements and Exhibits.
Consulting Agreement, dated as of December 9, 2016, by and
between the Company and John Ballard.
* Filed herewith.
About CONTENT CHECKED HOLDINGS, INC. (OTCBB:VSTT)
Content Checked Holdings, Inc. is the holding company for Content Checked, Inc. The Company, through its subsidiary, has developed and introduced to the market a smartphone application designed for use by those who suffer from food allergies and intolerances. The Company offers ContentChecked, MigraineChecked and SugarChecked smartphone applications. Its applications have a menu and recipe database, which offers directions and ideas on how to prepare food for individuals with allergies. It has a database of allergens and food ingredients that directly correlates with allergies and intolerances. The Company’s database includes over 400,000 products in the United States. ContentChecked and MigraineChecked applications have content information, and allergen and migraine definitions for most of the United States food products. SugarChecked gives consumers the ability to scan the barcodes of grocery store products and determine what types of sugars are contained within. CONTENT CHECKED HOLDINGS, INC. (OTCBB:VSTT) Recent Trading Information
CONTENT CHECKED HOLDINGS, INC. (OTCBB:VSTT) closed its last trading session at 0.615 with shares trading hands.