CurAegis Technologies, Inc. (OTCMKTS:CRGS) 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
On November 5, 2020, CurAegis Technologies, Inc. (the “Company”) was notified by Mr. Lance Drummond of his intention to resignas a Director. The Company is grateful for the guidance that he shared with the team over the past 23 months. The Board accepted the resignation on November 5, 2020, and in recognition of the service of Mr. Drummond to the Company, 180,000 vested options to purchase shares of the Company\’s common stock previously awarded, shall remain exercisable for the remainder of the applicable option terms, which amounts are equal to the number of shares that would have been exercisable for the remainder of his term had Mr. Drummond’s service continued through the three-year anniversary of the grant dates.
About CurAegis Technologies, Inc. (OTCMKTS:CRGS)
CurAegis Technologies Inc., formerly Torvec, Inc., develops and markets technologies in the areas of power, safety and wellness. The Company is focused on technologies, such as the Circadian User Risk Assessment (CURA) system and the Aegis hydraulic pump. The Company’s divisions include CURA Division and Aegis Division. The CURA division is engaged in the fatigue management business. The CURA system consists of individual elements, including the myCadian watch; panic-button and man-down system; CURA software, and the Z-Coach wellness program. The myCadian watch, a wearable device paired with the CURA system, is a real time alertness and emergency monitoring system that addresses sleep and fatigue management solutions. The Z-Coach e-learning module includes Z-Coach Aviation, which is designed for aviation professionals, from flight and ground crews, to scheduling, dispatch, administration and management. The Company’s Aegis division is engaged in the power and hydraulic business.