Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements with Certain Officers
On
August 30, 2017, the Company’s Board of Directors accepted the resignation of Ted D. Campbell II as a director of the Company,
effective immediately. Simultaneously, the Company’s Board of Directors appointed David C. Ansani and Manuel Flores as directors
of the Company, effective immediately, to serve until the next election of directors or appointment of their successors.
Set
forth below is certain biographical information concerning Messrs Ansani and Flores:
David
C. Ansani
David
C. Ansani (52) has been a director of the Company since August 2017. From 2010 to the present date, he has been and is Chief Compliance
Officer/Human Resources Officer/In-House Counsel for Glass Mountain Capital, LLC, a start-up financial services company specializing
in the recovery of distressed assets. In this capacity, he reviews and evaluates compliance issues and concerns within the organization.
The position ensures that management and employees are in compliance with applicable laws, rules and regulations of regulatory
agencies (FDCPA, TCPA, GLB, CFPB, etc.); that company policies and procedures are being followed; and that behavior in the organization
meets the company’s standards of conduct.
Manuel
Flores
Manuel
Flores (45) has been a director of the Company since August 2017. Since August 2015, he has been an attorney at Arnstein &
Lehr, LLP, Chicago, IL. His primary practice areas include: banking and consumer finance regulation, and compliance; land use
and zoning; and government affairs. He is a member of the Small Business Advisory Council (Illinois), FinTEx Chicago, Community
Bankers Association of Illinois and Illinois Bankers Association.
From
November, 2012 through January 2015, he was Acting Secretary of the Illinois Department of Financial and Professional Regulation
(IDFPR), Springfield/Chicago, IL. In this capacity, he served as Chief Executive Officer of a state regulatory agency with an
employee head count of 500 and an operating budget of $111,000,000.
The
Company has previously reported that Kevin Brian Cox had been appointed Chairman and Chief Executive Officer and a director of
the Company on July 25, 2017. Set forth below is certain biographical information concerning Mr. Cox:
Kevin
Brian Cox
Kevin
Brian Cox (42) has been Chairman and Chief Executive Officer and a director of the Company since July 2017. From
January
2011 to the present date, he has been CEO of
True Wireless LLC, an Oklahoma-based, FCC regulated nationwide wireless carrier
with the ability to provide service over all 4 major USA wireless backbones. True Wireless is a licensed eligible telecommunications
carrier (OK, AR, MD, RI and TX) providing discounted and subsidized wireless (cell phone) and broadband service through the National
Broadband Program.