On March 18, 2013, in an effort to reduce the company's expenses, Mr. Joseph Hayden advised the Board of Directors of Applied Energetics, Inc. that he is resigning as President of the company effective April 1, 2013 but agreed to continue to serve as a consultant to the company. The board and Mr. Hayden agreed that Mr. Hayden would continue to serve as the company's principal executive officer, principal financial officer and principal accounting officer.