Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Appointment of Officers. On March 27, 2023, the Board of Directors of Capstone
Companies, Inc. ("Company") appointed the following officers:
(1) Dana Perez as. interim Chief Financial Officer. Ms. Perez has been handling
internal accounting and audit functions for the Company as a consultant in 2023.
She is a licensed certified public accountant with over 20 years of experience
in corporate accounting, including experience in preparation of periodic reports
filed under the Securities Exchange Act of 1934 and serving as consultant with
chief financial officer duties or acting as an interim chief financial officer
for private and public companies. Ms. Perez's compensation as a contractor
covers services as interim Chief Financial Officer of the Company.
Company's former Chief Financial Officer, James McClinton, resigned as an
officer and director in November 2022, for personal health reasons, resignation
was effective November 30, 2022
(2) George Wolf, a director of the Company, was appointed as Assistant Corporate
Secretary of the Company. Mr. Wolf's compensation, which will consist of
stock-based incentive compensation, will be determined by the Board of Directors
and its Compensation and Nomination Committee in April 2023. Mr. Wolf has
deferred all cash compensation for his services to the Company to assist the
Company in coping with its current financial condition.
Mr. Wolf has provided sales and business development consulting services to the
Company since 2014. Prior to Mr. Wolf providing these consulting services, he
served as President and Chief Executive Officer of Systematic Development Group,
LLC from 2010 into 2014, President and Chief Executive Officer of ExamSoft
Worldwide, Inc. (1998 - 2009) and as Executive Vice President of Sagaz
Industries, Inc. (1986 - 1997). George Wolf was appointed as a Director on
January 13, 2022.
Nomination of Directors; Ratification of Public Auditors. On March 27, 2023, the
Company's Board of Directors ("Board") nominated the following persons to stand
for election as director to the Board in 2023: Stewart Wallach, George Wolf,
Jeffrey Postal and Jeffrey Guzy and ratified the appointment of D. Brooks &
Associates CPAs, P.A., located in Palm Beach Garden, Florida, as public auditor
of the Company for fiscal year 2023. The Board's Audit Committee had previously
approved engagement of D. Brooks & Associates CPAs, P.A. as public auditors of
the Company for fiscal year 2023 as well as the terms of that engagement.
Item 9.01. Financial Statements and Exhibits.
EXHIBIT NUMBER EXHIBIT DESCRIPTION
10.1 Consulting Agreement between Capstone Companies, Inc. and Dana Perez
© Edgar Online, source Glimpses