(Total Views: 585)
Posted On: 03/09/2019 9:16:12 AM
Post# of 82686
So someone sent this to my attention and I think the board should know about.
Effective on February 14, 2019, the Board of Directors of Document Security Systems, Inc. (the “Company”) elected Daniel Del Giorno as a non-executive member of the Company’s Board of Directors (the “Board”) to fill a vacancy on the Board. Mr. Del Giorno has served as the Chief Executive Officer of Advanced Cyber Security Corp. since 2012. Mr. Del Giorno has over 30 years of experience in the areas of technology development and marketing, both as an executive and a consultant, which experience the Company believes will bolster the Company’s ability to continue to develop and grow its technology licensing business. The Company, through one of its subsidiaries, intends to enter in to a technology licensing transaction with Advanced Cyber Security Corp. The licensing fee for such transaction will be a one-time $500,000 sum, payable partially in cash, and partially in the Company’s common stock. As such, Mr. Del Giorno, as Chief Executive Officer of Advanced Cyber Security Corp., will be considered by the Company to be a non-independent, non-executive Board member, and as such will not serve on any of the Board’s subcommittees.
https://www.sec.gov/Archives/edgar/data/77199...orm8-k.htm
How does this effect SFOR?
Effective on February 14, 2019, the Board of Directors of Document Security Systems, Inc. (the “Company”) elected Daniel Del Giorno as a non-executive member of the Company’s Board of Directors (the “Board”) to fill a vacancy on the Board. Mr. Del Giorno has served as the Chief Executive Officer of Advanced Cyber Security Corp. since 2012. Mr. Del Giorno has over 30 years of experience in the areas of technology development and marketing, both as an executive and a consultant, which experience the Company believes will bolster the Company’s ability to continue to develop and grow its technology licensing business. The Company, through one of its subsidiaries, intends to enter in to a technology licensing transaction with Advanced Cyber Security Corp. The licensing fee for such transaction will be a one-time $500,000 sum, payable partially in cash, and partially in the Company’s common stock. As such, Mr. Del Giorno, as Chief Executive Officer of Advanced Cyber Security Corp., will be considered by the Company to be a non-independent, non-executive Board member, and as such will not serve on any of the Board’s subcommittees.
https://www.sec.gov/Archives/edgar/data/77199...orm8-k.htm
How does this effect SFOR?
(2)
(0)
