hopTo Inc. (OTCMKTS:HPTO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
(b) On June 27, 2017, Eldad Eilam, President, CEO, and Director of hopTo, Inc. (the “Company”), notified the Company that he would resign as President and CEO effective July 28, 2017. Mr. Eilam will continue to serve on the Board of Directors of the Company (the “Board”).
On June 28, 2017, Jean-Louis Casabonne, CFO and Secretary of Company, notified the Company that he would resign as CFO and Secretary effective August 14, 2017.
Each executive is resigning to pursue other opportunities.
(c) The Board appointed Jean-Louis Casabonne, the CFO and Secretary of the Company, to serve as the Company’s interim CEO, in addition to his current duties, effective as of the date of Mr. Eilam’s resignation through August 14, 2017. Mr. Casabonne, age 59, joined the Company in 2014 as CFO and Secretary. Previously from 2002 to 2011, Mr. Casabonne has served as the CFO of Quova, Inc., a venture backed company which he guided to profitability prior to its successful sale to Neustar, Inc. (NYSE:NSR). Following the sale of Quova to Neustar, Mr. Casabonne continued with Neustar from 2011 to 2014 as a strategic evangelist and director of business development managing strategic relationships with key partners. From 1996 to 2002, Mr. Casabonne was a founder and controller for Inxight Software, a spin-out from Xerox Corporation. He became CFO and VP of Operations for Inxight in 1999, managing finance, administration, legal affairs, information technology and customer support. From 1992 to 1996, Mr. Casabonne served in a number of senior financial positions for Xerox Corporation’s XSoft Division. Mr. Casabonne received his MBA and BS from Santa Clara University.
Mr. Casabonne was not appointed to any arrangement or understanding between him and any other person in respect of such appointment, has no family relationships with any of the Company’s directors or executives, and has no direct or indirect material interest in any transaction required to be disclosed to Item 404(a) of Regulation S-K.
No new compensatory or severance arrangements were entered into in connection with Mr. Casabonne’s appointment as interim CEO. The Board is currently in the process of conducting a search for a new CEO and a new CFO.
About hopTo Inc. (OTCMKTS:HPTO)
hopTo Inc. is a developer of software productivity products for mobile devices, such as tablets and smartphones, and application publishing software solutions. The Company’s product line, which is called hopTo, is marketed to small and medium sized businesses, and enterprise level customers under the name hopTo Work, which is its primary focus in the hopTo product line. hopTo provides mobile end-users with a productivity workspace for their mobile devices that allows them to manage, share, view and edit their documents, regardless of where they are stored. The hopTo Work builds upon the hopTo consumer product, bringing its core mobile productivity features to small- to medium-sized business (SMB)/Enterprise users, with additional security and manageability functions. The Company’s GO-Global product offerings can be categorized into various product families, such as GO-Global for Windows, GO-Global for UNIX and GO-Global Client.