On March 7, 2018, Joe Stone notified MagneGas Corporation of his resignation as a member of the company's Board of Directors. Mr. Stone's resignation is not the result of any disagreement with the policies, practices or procedures of the company. On March 8, 2018, the Board of Directors of the Company appointed Scott Mahoney to the Board of Directors to fill the vacancy on the Board resulting from Joe Stone's resignation. Mr. Mahoney is the Company's current Chief Financial Officer and corporate Secretary and has held those roles since the fall of 2016. Mr. Mahoney has almost 20 years of finance and executive management experience and has held positions at several public and privately held companies in the banking, energy and recycling industries. Prior to joining MagneGas, Mr. Mahoney served as Chief Financial Officer of Phoenix Group Metals, LLC.