Entia Biosciences, Inc. (OTCMKTS:ERGO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
On November 28, 2017, we received from Carl J. Johnson his resignation from his positions as President, Chief Executive Officer and as a member of the Company’s Board of Directors. By means of a letter of understanding, the Company’s financial obligations to Mr. Johnson under his employment contract have been modified without increasing the amounts due and making said amounts payable over an approximately three-year period. The Company’s Board of Directors has appointed Timothy A. Timmins as President and Chief Executive Officer.
About Entia Biosciences, Inc. (OTCMKTS:ERGO)
Entia Biosciences, Inc. develops pharmaceutical-grade organic compounds, including a foundational compound called ErgoD2. The Company also develops and markets health-related nutraceuticals and cosmeceuticals. ErgoD2 is a pharmaceutical-grade organic compound created from whole foods that contain the micro-nutrients L-ergothioneine, an amino acid that has a transporter (SLC22A4) in every human being, and vitamin D2. ErgoD2 improves iron homeostasis and mitigates iron-related disorders presenting in anemia, chronic kidney disease and select neurodegenerative diseases. The Company’s ErgoD2 formulations utilize organically cultivated specialty mushrooms available from various domestic and international suppliers. These mushroom-based products are generally regarded as safe (GRAS). The Company’s market and scientific research has identified mushroom species and suppliers to provide the nutritional profiles for its ErgoD2 formulations.