PROTEXT MOBILITY, INC. (OTCMKTS:TXTM) 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.
On September 1, 2015, and on September 11, 2015, the Company accepted the resignations of Steve Berman as Interim Chief Executive Officer and Frank Chester as a member of the Board of Directors, respectively. The resignations were not a result of any disagreement with the Company or its executive officers, or any matter relating to the Company’s operations, policies or practices.
On September 12, 2015, the Company appointed David Lewis as Interim Chief Executive Officer. Mr. Lewis was previously serving on the Board of Directors as Executive Director and remains in that capacity.
SECTION 8 – OTHER EVENTS
Item 8.01 Other Events.
The Company has entered into negotiations with its convertible note holders with the goal of restructuring existing debt and has requested “standstill agreements” that would eliminate penalty interest, waive default provisions and halt debt conversions for a period of up to (12) months.
About PROTEXT MOBILITY, INC. (OTCMKTS:TXTM)
ProText Mobility, Inc. develops, markets and sells software solutions for the mobile communications market primarily for protecting children from dangers derived from mobile communications and mobile device use. The Company’s offerings include solutions with downloadable applications for mobile communications devices, such as SafeText, DriveAlert and Compliant Wireless. Its SafeText is a service for mobile devices that provides parents a tool to help manage their children’s mobile communication activities. Its DriveAlert is a virtual lock-box, designed to curb mobile device use while driving and to help mitigate the risks of driving while distracted. Its Compliant Wireless is a mobile platform designed for small to large companies. The mobile solutions for the enterprise/corporate compliance are marketed under Compliant Wireless and those with consumer solutions are marketed under FamilyMobileSafety. PROTEXT MOBILITY, INC. (OTCMKTS:TXTM) Recent Trading Information
PROTEXT MOBILITY, INC. (OTCMKTS:TXTM) closed its last trading session 00.00000 at 0.00010 with 500,000 shares trading hands.