Current Report Filing (8-k)
April 06 2021 - 12:17PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported): April 2, 2021
TARONIS
FUELS, INC.
(Exact
name of registrant as specified in its charter)
Delaware
|
|
000-56101
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32-0547454
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employee
Identification
No.)
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24980
N. 83rd Avenue, Suite 100
Peoria,
AZ 85383
(Address
of principal executive offices) (Zip Code)
(866)
370-3835
Registrant’s
telephone number, including area code:
N/A
(Former
name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
[
]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[
]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[
]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[
]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
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None
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N/A
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N/A
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company [X]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item
5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers.
On
April 2, 2021, Scott Mahoney, the Company’s Chief Executive Officer, President, and a member of the Company’s
board of directors (the “Board”), informed the Board that he was resigning as Chief Executive Officer,
President and as a member of Board (including all roles held with the Company’s subsidiaries), effective
immediately. Mr. Mahoney’s resignation was not the result of any disagreement with the policies, practices or
procedures of the Company.
On April 5, 20201, following the
resignation of Mr. Mahoney, the Board appointed Edward J. Fred, the Company’s Chief Financial Officer and Treasurer,
to serve as the Company’s interim Chief Executive Officer and President (“Expanded Role”). Mr. Fred
is expected to serve until the Company completes a search for a permanent replacement and appoints a new Chief Executive
Officer and President. In connection with his appointment to the Expanded Role, Mr. Fred will receive a one-time promotion
bonus of $50,000 and an increase in his base salary from $300,000 per year to $375,000 per year. All other terms of Mr.
Fred’s existing employment agreement shall remain unchanged.
A
copy of Mr. Mahoney’s resignation letter is attached to this Current Report on Form 8-K as Exhibit 99.1.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Date:
April 6, 2021
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TARONIS
FUELS, INC.
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By:
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/s/
Edward J. Fred
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Name:
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Edward
J. Fred
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Title:
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Interim
Chief Executive Officer
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