AMMJ fires CFO on reporting date- Can\'t be good news!
Post# of 25
On April 24, 2018, the Registrant terminated the engagement of its Chief Financial Officer, J. Michael Tuohey. On April 24, 2018, the Registrant appointed R. Leslie Hymers, III, age 34, as its Chief Financial Officer. Mr. Hymers does not have a family relationship with any director, executive officer, or person nominated or chosen by the Registrant to become a director or executive officer.
Since the beginning of the Registrant's last fiscal year to the effective date of Mr. Hymers’ appointment, Mr. Hymers has not been a participant, nor has he had any direct or indirect material interest in any transaction in which the Company was or is to be a participant, and the amount involved exceeded $120,000.
Mr. Hymers agreed to render services as Chief Financial Officer to the Registrant. Mr. Hymers’ duties include but are not limited to: providing such services and fiduciary duties as are provided by a Chief Financial Officer of a publicly traded fully reporting company in compliance with the 1934 Securities and Exchange Act, the 2002 Sarbanes-Oxley Act, and the Rules and Regulations promulgated by the Securities and Exchange Commission. The Registrant agreed to compensate Mr. Hymers with a monthly fee of $6,000.00 and an annual cashless warrant to purchase common stock of $125,000. The Registrant also agreed to issue a one-time signing bonus of 50,000 shares of its restricted common stock, deemed earned as of April 24, 2018.