ZERO GRAVITY SOLUTIONS, INC. (OTCMKTS:ZGSI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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ZERO GRAVITY SOLUTIONS, INC. (OTCMKTS:ZGSI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Departure of Director

On June 15, 2017, Glenn A. Stinebaugh notified the Company’s Board of Directors (the “Board”) of his intention to resign as a Director of the Company, effective immediately. Mr. Stinebaugh’s resignation was not the result of any dispute or disagreement with the Company or the Company’s Board on any matter relating to the operations, policies or practices of the Company.

Resignation of Glenn A. Stinebaugh as Chief Executive Officer and President of the Company and BAM Agricultural Solutions, Inc.

 

On June 15, 2017, Glenn A. Stinebaugh notified the Company of his intention to resign as the Chief Executive Officer and President of the Company as well as the Company’s wholly-owned subsidiary, BAM Agricultural Solutions, Inc. (“BAM Inc.”), effective immediately.

Appointment of Director

In accordance with the Company’s Bylaws, on June 15, 2017, Mr. Timothy A. Peach was appointed as a member of the Board, effective as of such date, to fill the vacancy created by the resignation of Mr. Stinebaugh. Mr. Peach shall maintain such appointment to the Board until such term expires at the Company’s next annual election of directors and until such time as his successor is duly elected and qualifies, or until the earlier of his death, resignation or removal.

Acceptance byTimothy A. Peach of the Company's offer of the position of Chief Executive Officer and President of the Company and BAM, Inc.

 

On June 15, 2017, Mr. Peach commenced serving as the Chief Executive Officer of the Company as well as the Company’s wholly-owned subsidiary, BAM Inc., in addition to his current role as Chief Financial Officer of the Company. For Mr. Peach’s professional biography, please refer to the Form 10-K/A, Amendment No. 1, filed with the Securities Exchange Commission on May 31, 2017 (“Form 10-K/A”).

Acceptance byRaveendran Pottathil of the Company's offer of the position of Chief Operationing Officer of the Company

On June 15, 2017, Mr. Pottathil commenced serving as the Chief Operating Officer of the Company and BAM Inc. The business experience of Mr. Pottathil is also set forth in the Form 10-K/A.

Acceptance by Glenn A. Stinebaugh of the Company's offer of the position of Senior Vice President of BAM Agricultural Solutions, Inc.

On June 15, 2017, Mr. Stinebaugh commenced his positon as the Senior Vice President of BAM Inc. The business experience of Mr. Stinebaugh’s business experience is also set forth in the Form 10-K/A.

Item 8.01. Other Events.

 
 


About ZERO GRAVITY SOLUTIONS, INC. (OTCMKTS:ZGSI)

Zero Gravity Solutions, Inc. is a biotechnology company. The Company is focused on commercializing technology derived from, and designed for spaceflight with applications on Earth. These technologies are focused on improving world agriculture by providing solutions to challenges facing humanity, including threats to world agriculture and the ability to feed the growing population. The Company’s segments include BAM-FX and Directed Selection. BAM-FX is an ionic micro-nutrient delivery system for food crops. It is a formulation of zinc and copper in a precise ratio used to treat plant mineral deficiencies by providing a delivery system to move mineral ions to the mineral deficient areas in plants. Directed Selection relates to the production and alteration of a range of stem cells with characteristics in the prolonged zero/micro gravity environment of the International Space Station.

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