ITEM 5.02
|
DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENTS OF CERTAIN OFFICERS.
|
In connection with the Merger and as of July 18, 2018, Paul
Begum, Jerry Wright, and Robert Campbell resigned from all director and officer positions with the Company, and the following individuals
were appointed to the following positions with the Company:
Name
|
|
Age
|
|
Position
|
Dennis M. O’Leary
|
|
55
|
|
CEO & Chairman of the Board of Directors
|
Thomas A. Cellucci
|
|
60
|
|
Co-CEO & Director
|
Stephen Goodman
|
|
74
|
|
Chief Financial Officer
|
Mark Banash
|
|
57
|
|
Chief Technology Officer
|
David Singer
|
|
68
|
|
Chief Marketing Officer
|
The following summarizes the background of each such
executive officer and appointed director.
Dennis M. O’Leary
Mr. O’Leary is a serial
entrepreneur with significant international experience having founded Sulu Electric Power and Light Corp (Philippines), a firm
with expertise in utility scale power generation and solar energy. He is the co-founder and Chairman of DarkPulse Technologies
Inc., a firm developing specialized devices that monitor activities along national borders and provide structural health and safety
monitoring of oil and gas pipelines. He holds extensive start-up experience including multiple exit strategies. Mr. O’Leary
is an Ambassador for the Province of New Brunswick, Canada, and a Research Member of the NATO Science and Technology Organization.
He served as a member of the Board at Arizona State University’s School of Engineering, Global Resolve as Chair of the Impact
Committee. His previous employment includes the NYPD where he worked as a member of the Manhattan North Tactical Narcotics Team,
which prosecuted establishments involved in the illegal distribution of narcotics. He was a member of a joint taskforce working
with the DEA and USINS in the execution of warrants related to narcotics trafficking. While at the NYPD, he was assigned to the
Department of Justice as a member of the FBI’s investigative team with internal designation C14. He is a licensed private
pilot with turbine experience. Mr. O’Leary is not, and has not been during the past 5 years, the director of any other public
companies.
Thomas A. Cellucci, PhD,
MBA
Dr. Cellucci has been a senior
executive in both the private and public sectors for over 36 years. He is the co-CEO and a Board member of DarkPulse Technologies
Inc., as well as the Chairman and CEO of Bravatek Solutions, Inc., a publicly traded company on the over-the-counter market with
the ticker symbol “BVTK.” He founded and still owns/operates Cellucci Associates, Inc. with headquarters at Harvard
Square in Cambridge, Massachusetts. Dr. Cellucci served as the US Government’s first-ever Chief Commercialization Officer
after a very successful career managing high technology firms, working for both President George W. Bush and President Obama from
2007-2012. He worked at both the White House, as well as the US Department of Homeland Security. He also currently assists President
Trump’s team when asked, most recently writing a book on innovative, commercialization-based public-private partnerships
for Critical Infrastructure/Key Resources. Dr. Cellucci has authored or co-authored 25 scholarly books and over 211 high-tech and
business articles, and he currently holds the highest security levels in the US government and military. He earned a PhD in Physical
Chemistry from the University of Pennsylvania (1984), an MBA from Rutgers University (1991) and a BS in Chemistry from Fordham
University (1980). He is on a number of Boards and served as the Chairman of the World Bank’s International Science and Commercialization
Board and is the Chairman of Eurasian Technological University in Almaty, Kazakhstan. He currently holds two endowed Chairs at
prestigious universities in Kazakhstan, and he has previously taught at Harvard Business School, Princeton University and the University
of Pennsylvania.
Stephen Goodman, JD, MBA
Mr. Goodman has over four decades
of experience in the management and treasury function of both private and publicly owned companies. After graduating from the Wharton
School, he served three years active duty as a junior officer in the Coast Guard, assigned to the supply center servicing all Coast
Guard ships and stations throughout the world. He then was the Treasurer of a small international public electronics company that
manufactured a component employed in virtually all electronic equipment. He subsequently founded several financial companies specializing
in providing funding to both small and medium sized businesses, and to individuals using real estate as collateral.
In the early 90’s, he
and two associates founded a pager and cellular distribution business, which led to his becoming a principal, director, and the
CFO for Prime Companies Inc., a publicly owned wireless telecommunications company. In that position, he developed and implemented
a business plan, including funding, for the buildout of fixed broadband wireless systems. He initiated a plan to spin off a subsidiary,
providing a dividend to the company’s 1300 shareholders. He developed the winning plan to jointly develop and commercialize
wireless licenses owned by a mid-Atlantic university. He developed a distribution network of retailers for prepaid wireless and
dial tone telephone services, for the company’s wholly owned California licensed Competitive Local Exchange Carrier.
He earned a BS degree from the
Wharton School at the University of Pennsylvania, an MBA from New York University, and a Juris Doctor degree from William Howard
Taft University.
He has been an adjunct professor
at the University of Phoenix, teaching finance and communications in the graduate and undergraduate schools, both online and in
the classroom.
He was a member and the Treasurer
for the Maricopa County Sheriff’s North Valley Posse, and was the Commander of his local American Legion Post until June
30, 2018, when his term expired.
Mark Banash, PhD, MBA
Dr. Banash has almost 30 years
of experience in bringing advanced technology from the laboratory to the marketplace. His work covers biocides, polymers, coatings,
ceramics, and new forms of glass for laser optic applications. In 2003, he moved to Zyvex where he oversaw production of the company’s
nanopositioning systems for electron microscopes as well as its carbon nanotube resins for advanced composites. In 2007, he went
to Nanocomp Technologies, where as VP-Chief Scientist he was responsible for everything for the company’s carbon nanotube
materials from basic research to quality control to new product formats. Following Nanocomp’s recent sale to Huntsman, he
went to AvCarb where he now heads the Engineering Development of new carbon materials for fuel cells, flow batteries, hydrogen
generators, and energy storage. He has also served as an operations and technical consultant to DarkPulse Technologies Inc. since
October 2017, working on transitioning the technology from prototype to a manufacturable design.
Dr. Banash holds a BA with honors
in Chemistry with minors in Mathematics and English from the University of Pennsylvania, and a Ph.D. in Chemistry from Princeton
University. He also holds an MBA from the University of Maryland, University College, where he was subsequently a professor teaching
Operations Management until 2012. He is a Six Sigma Black Belt and has worked with ISO and NIST on metrology and quality standards
related to new technologies.
David Singer
Mr. Singer brings over four
decades of experience working with both national and international companies developing business relationships and expanding new
and existing business opportunities. He also brings a wealth of proven experience working in, and with, public companies as he
served as the Chairman, CEO and President of an American Stock Exchange company, as well as served in various positions in OTC
companies for over 20 years.
Currently, Mr. Singer serves
as the Chief Marketing/Sales Officer for DarkPulse Technologies Inc. He served ten years as Vice President, Project Manager for
Hatzel & Buehler, Inc., the county's oldest electrical contractor. In this position he served as project manager for several
commercial and industrial projects, such as; Renaissance Center in downtown Detroit, Ford Motor Company assembly facilities, University
of Michigan building automation systems, Hyatt Regency Hotel life-safety systems, Michigan Bell facilities, and Detroit Edison
facilities.
He joined CSL as Vice President
of sales and marketing and became President at CSL Energy Controls. A shared energy savings company. CSL provided shared energy
savings opportunities for commercial customers, industrial and industrial customers national wide.
Mr. Singer served as a special
consultant to the General President of the Sheetmetal Workers International Association where he helped establish the National
Energy Management Institute, NEMI. The National Energy Management Institute is a not-for-profit organization jointly funded and
managed by the Sheet Metal and Air Conditioning Contractors’ National Association (SMACNA) and the International Association
of Sheet Metal, Air, Rail and Transportation Workers (SMART). NEMI develops programs seeking to create or expand employment opportunities
for SMART members and programs that assist SMACNA contractors.
Mr. Singer served as Vice President
of energy and environmental municipal financing of First Municipal Division at Banc One Leasing Corporation, were he oversaw the
financing for co-generation, trash-to-cash energy development projects; and energy conservation programs for Federal, State and
municipal projects, including the first Federal Energy Shared Savings project for the United States Government.
Mr. Singer served as President
of Highland Energy Group., a national energy service company (ESCO) providing demand side management (DSM) services to public utilities,
such as the Public Service Company of Colorado, Duke Power, and Texas Utilities.
At Navtech Industries, Mr. Singer
worked with New Mexico Governor Gary Johnson, US Congressman Bill Richardson, US Senator Pete Domenici and Navajo President Albert
Hale to renovate a 50,000 SqFt manufacturing facility in Shiprock, NM, on the Navajo Reservation to establish an electronic contract
manufacturing facility. Navtech employed over 350 Navajo workers, were they provided all aspects of electronic contractor assembly
services. Navtech provided the assembly and electronics for the Freemont Street Experience in downtown Las Vegas, in-room honor
bars for Marriott Hotel worldwide and player tracking systems for casino slot machines for the major manufactures.
World Wireless Communications,
Inc. was formed in 1996. Mr. Singer became its President in 1997, and following that, he was appointed its CEO and Chairman. World
Wireless was a pink sheet company, and in 2000, under Mr. Singer’s leadership, became an AMEX traded company. World Wireless
provided both wireless and electronic contract assembly services. It used its wireless technology to provide companies such as
The Williams Companies wireless SCADA technology to monitor its natural-gas pipelines through the United States, and wireless remote
data acquisition from natural gas meters at remote customers through-out the United States. World also worked with several electrical
utilities nationwide to connect meters for near-real-time data monitor of actual energy usage. World Wireless was selected by Matsushita
Electric Industrial Co, Panasonic, to develop its spread-spectrum 2.4 GHz radio platform for their cordless telephone, the Giga-Range,
which was introduced in 1999. In 2000, World established Xtra-Web a standalone platform to transfer information from a device to
the Internet, which has now become widely known as “smart” technology. Xtra-Web technology was incorporated in restaurant
equipment for Wendy’s, McDonalds, and deployed in gathering real-time operation information on HVAC systems and vending machines
worldwide.
After leaving World Wireless,
he served as Interim Chief Financial Officer of the Company, and as its Interim Chief Executive Officer where he worked with the
Company’s prior management to market its smart shopper technology to Fujitsu.
Before joining DarkPulse, Mr.
Singer served as President, CTO, and Director of Intelligent Highway Solutions, Inc., a publicly traded company on the over-the-counter
market with the ticker symbol “IHSI.” He directed the formation of that company from a private company to a public
vehicle, overseeing the filing of its registration statement.
The terms of the employment of the Company’s newly appointed officers and directors have not yet
been finalized.