On October 28, 2016, MagneGas Corporation announcing that it had hired, effective as of December 1, 2016, Scott Mahoney as the company's chief financial officer and secretary. From 2008 to 2016, Mr. Mahoney served as the Chief Financial Officer of Phoenix Group Metals, LLC. From October 2015 through the present, Mr. Mahoney has served as interim President, CEO and CFO of JayHawk Energy Inc. Mr. Mahoney has also served as Chairman of the Board of Directors of JayHawk Energy Inc. since April 2015.

In connection with Mr. Mahoney's appointment, Ms. Luisa Ingargiola resigned as the Company's Chief Financial Officer and Secretary, effective as of December 1, 2016. Ms. Ingargiola will remain a member of the Board.