HYPERSOLAR, INC. (OTCMKTS:HYSR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On June 15, 2018, the Board of Directors (the “Board”) of the Company appointed Mark Richardson as a director of HyperSolar, Inc. (the “Company”), effective immediately.
Mark J. Richardson has been a securities lawyer since he graduated from the University of Michigan Law School in 1978. He practiced as an associate and partner in large law firms until 1993, when he established his own practice under the name Richardson & Associates. He has been the principal securities counsel on a variety of equity and debt placements for corporations, partnerships, and real estate companies. His practice includes public and private offerings, venture capital placements, debt restructuring, compliance with federal and state securities laws, representation of publicly traded companies, Nasdaq filings, corporate law, partnerships, joint ventures, mergers, asset acquisitions, and stock purchase agreements. As a partner in a major international law firm in the 1980’s, Mr. Richardson participated in the leveraged buyout and recapitalization of a well-known producer of animated programming for children, financed by Prudential Insurance and Bear Stearns, Inc. He was also instrumental in restructuring the public debentures of a real estate company without resorting to a bankruptcy proceeding. From 1986 to 1993 Mr. Richardson was a contributing author to State Limited Partnerships Laws – California Practice Guide, Prentice Hall Law and Business. Prior to receiving his Juris Doctor degree cum laude from the University of Michigan Law School in 1978, Mr. Richardson received a Bachelor of Science degree summa cum laude in Resource Economics from the University of Michigan School of Natural Resources in 1975, where he earned the Bankstrom Prize for academic excellence and achieved Phi Beta Kappa honors. Mr. Richardson is an active member of the Los Angeles County and California State Bar Associations, including the Section on Corporations, Business and Finance and the Section on Real Estate.
The Board has determined that Mr. Richardson is an independent director within the meaning of NASDAQ Rule 5605(a)(2).
Mr. Richardson does not have a family relationship with any of the executive officers or directors of the Company. There are no arrangements or understandings between Mr. Richardson and any other persons to which he was selected as a director, and there are no transactions in which he has an interest requiring disclosure under Item 404(a) of Regulation S-K.
About HYPERSOLAR, INC. (OTCMKTS:HYSR)
Hypersolar, Inc. is engaged in developing a solar-powered particle system that mimics photosynthesis to separate hydrogen from water. The Company intends for technology of this system to be licensed for the production of renewable hydrogen to produce renewable electricity and hydrogen for fuel cells. The Company is focused on developing a submersible hydrogen production particle that can split water molecules under the sun, emulating the functions of photosynthesis. Each particle is a complete hydrogen generator that contains a high voltage solar cell bonded to chemical catalysts by an encapsulation coating. The Company is developing a modular system that enables the daily production and storage of hydrogen for any time use in electricity generation, oil and gas refining, fertilizer manufacturing or any other applications of hydrogen. The Company’s technology is HyperSolar H2Generator. The Company has not generated any revenues.