LOTON, CORP (OTCMKTS:LIVX) 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 Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(d) On July 7, 2017, the Board of Directors (the “Board”) of Loton, Corp, a Nevada corporation (the “Company”), elected Craig Foster as a director of the Company, effective immediately. The Board expects to appoint Mr. Foster as the chairman of the Board’s audit committee, when such committee is formed, and may appoint Mr. Foster to any other newly formed committees of the Board.
Mr. Foster previously served as the Chief Financial Officer and Chief Accounting Officer of Amobee, Inc., a digital advertising platform, from April 2015 until May 2017. From February 2013 until April 2015, Mr. Foster served as Chief Financial Officer and Chief Accounting Officer of Ubiquiti Networks, Inc., a publicly-traded networking and communications company. From June 2012 to February 2013, Mr. Foster served as Director in the technology infrastructure and software group of Credit Suisse Securities (USA) LLC, an investment bank. From August 2007 to June 2012, Mr. Foster served as an Executive Director and co-head of the software group of UBS Securities LLC, an investment bank. Mr. Foster has also held various management positions at RBC Capital Markets, an investment bank, Loudcloud, a software and services platform, PricewaterhouseCoopers, a public accounting firm and Deloitte, a public accounting firm. Mr. Foster holds an M.B.A. in Finance from the Wharton School of Business and a B.A. in Economics from the University of California, San Diego.
Mr. Foster’s compensation in connection with his election as a director of the Company has not yet been determined. The Board expects to award to Mr. Foster such cash and/or equity incentive compensation in the future as it determines to be appropriate for the services that Mr. Foster is providing to the Company, including as a member of any of the Board’s committees.
There is no arrangement or understanding between Mr. Foster and any other persons to which Mr. Foster was elected as a director of the Company. There are no family relationships between Mr. Foster and any of the Company’s officers and directors. There are no transactions to which the Company or any of its subsidiaries is a party in which Mr. Foster has a material interest subject to disclosure under Item 404(a) of Regulation S-K.
About LOTON, CORP (OTCMKTS:LIVX)
Loton, Corp. is a holding company. The Company is engaged in the live and digital music space content, including live music events, through LiveXLive, Corp., which is a subsidiary of the Company. It provides three dimensional (3D) rendering, animation and architectural visualization services using computer technology to produce photo realistic 3D rendering, walk-through animation and 360-degree panorama. The LiveXLive network focuses on providing compelling and curated content that showcases the entire spectrum of music to include music inspired fashion, food, and lifestyle content and showcase interviews, backstage access and both fan and artist perspectives. It intends to provide various categories of music, including rock, pop, indie, electronic dance music (EDM), country and feature festival headliners, as well as artists performing at clubs and venues across the world. KOKO (Camden) Holdings (US), Inc. and KOKO (Camden) UK Limited are also the subsidiaries of the Company.
