Item 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
In furtherance of MFLB’s desire to sustain and grow the business, the President and Sole Director of MFLB has appointed three additional Directors to serve until the annual shareholders meeting. All three directors will serve for no compensation.
The three Appointed Directors are:
William G. Lyons, Chief Strategist, William Lyons Associates, Inc. and Founder and Principal at BDB Entertainment Group.
John JJ Coyne, Executive Vice President, MLFB
Britt Jennings, Manager, Bedrock Loans, LLC
Resumes of each director are attached as Exhibits.
Subject to the timing of our funding, we are planning a Demonstration Season for 2020 consisting of either a 4 team 6 game season beginning with a full training camp in early May or a 3 team 4 game season with the same training camp dates. All games will be played in the cities and stadiums where we have established facility arrangements in Ohio, Virginia and Arkansas in May and June, 2020. We have also been in discussions with cities in Alabama, Texas and Florida. We plan to televise all our games.
We are in discussions with individual investors to raise 5 million dollars by March 31, 2020 and a tiered subsequent raise of 25 million by September 30, 2020 which will cover the Company’s anticipate expenses for its 6 team 8 game regular season for 2021. The 5 million raise will cover all expenses for the games planned for 2020 and the Company’s anticipated expenses for that period.