Item
5.02
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
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On
December 1, 2018, MagneGas Applied Technology Solutions, Inc. (“Company” or “MagneGas”) appointed Tyler
B. Wilson, Esq. as the Company’s Executive Vice President and corporate Secretary. Simultaneously, with Mr. Wilson’s
appointments, Scott Mahoney voluntarily resigned as the Company’s corporate Secretary. Mr. Mahoney’s resignation as
corporate Secretary is not the result of any disagreement with the policies, practices or procedures of the Company. Mr. Wilson
has served as the Company’s General Counsel since mid-2017. On December 1, 2018, he was appointed as the Company’s
Executive Vice President and corporate Secretary. During his time with the Company, Mr. Wilson has been instrumental in advancing
the Company’s acquisition model, leading capital market financings and shoring up corporate governance. Mr. Wilson has served
as the managing attorney of Wilson Law Group, PLLC, a corporate and securities boutique he founded in 2011. Over the course of
his career, Mr. Wilson has founded a number of start-ups while managing Wilson Law Group and has developed extensive experience
in business operations in addition to his legal expertise. Mr. Wilson holds a Bachelor of Arts from the University of Notre Dame
and a Juris Doctor from the University of Notre Dame Law School.
On
December 1, 2018, the Company appointed Jack Armstrong as the Company’s Executive Vice President of Business Development.
Mr. Armstrong has worked for MagneGas in many capacities. He was Head of Operations, where he oversaw R&D and ESSI Welding
Stores. He has also sourced our current acquisitions. Mr. Armstrong has over 20 years of experience in the capital markets. He
was a Managing Director at Piper Jaffray, Head of Trading at Think Equity Partners and recently the Senior Vice President of the
Corporate Client Group at Northland Capital Markets assisting companies in strategy and capital raises. Over his career, Mr. Armstrong
has worked with senior level management at several of the largest investment companies through the process of raising an estimated
$5 billion of funds over his career. Mr. Armstrong received a Bachelors of Administration in Economics from Arizona State University.
On
December 1, 2018, the Company appointed Richard Conz as the Company’s Executive Vice President of Engineering and Technology
Development. Mr. Conz joined the MagneGas in 2014. Since that time, he has established the company’s engineering policies
and procedures based on industry best practices, lead the development of the corporate IT infrastructure, and commercialized MagneGas
technology in the sterilization and gasification markets. Mr. Conz took over production operations of MagneGas2 in 2015, and by
2017 reduced production costs by 50%. Mr. Conz led the sterilization engineering team to quickly design, develop, and test the
50 KW mobile pilot system in 8 months that ultimately led to capturing a USDA CIG grant. Prior to MagneGas in 2013, Mr. Conz launched
a successful consulting business, providing business development, program management, and engineering services. In 2011, he received
a patent for performing complex cost/performance trades to determine system best value solutions. Mr. Conz received his Bachelor
of Science degree in Electrical Engineering from Wayne State University and held Program Management, Capture Management, and Six
Sigma certifications.
On
December 1, 2018, the Company appointed Clinton Rafe Dean as the Company’s Chief Operating Officer, with his primary responsibility
being the oversight of retail operations. Mr. Dean has more than twenty years of industry experience. He began his career with
an independent welding distributor and was promoted through all levels of the business from driver to management. Over his career,
Mr. Dean has achieved many sales goals and profitable growth within the industry. Prior to its acquisition by MagneGas in early
2018, Mr. Dean started Green Arc following success managing sales at another distributor that was sold to Matheson. During his
time there, Mr. Dean grew the company’s sales by 11 million under his management. Mr. Dean received an Associate’s
Degree in Fire Science from Texas A&M University.
In
connection with certain appointments and resignations disclosed in the Company’s Current Report on Form 8-K filed with the
Securities and Exchange Commission on November 6, 2018, Ermanno Santilli resigned as the Company’s President and the president
of the Company’s various subsidiaries, effective as of November 2, 2018. Simultaneously with Mr. Santilli’s resignation,
Scott Mahoney, the Company’s CEO was appointed as the Company’s President and as the president of the Company’s
various subsidiaries.