This Current Report on Form 8-K and other written and oral statements made from time to time by us may contain so-called “forward-looking statements,” all of which are subject to risks and uncertainties. Forward-looking statements can be identified by the use of words such as “expects,” “plans,” “will,” “forecasts,” “projects,” “intends,” “estimates,” and other words of similar meaning. One can identify them by the fact that they do not relate strictly to historical or current facts. These statements are likely to address our growth strategy, financial results and product and development programs. One must carefully consider any such statement and should understand that many factors could cause actual results to differ from our forward looking statements. These factors may include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward looking statement can be guaranteed and actual future results may vary materially.
Information regarding market and industry statistics contained in this Current Report on Form 8-K is included based on information available to us that we believe is accurate. It is generally based on industry and other publications that are not produced for purposes of securities offerings or economic analysis. We have not reviewed or included data from all sources, and cannot assure investors of the accuracy or completeness of the data included in this Current Report. Forecasts and other forward-looking information obtained from these sources are subject to the same qualifications and the additional uncertainties accompanying any estimates of future market size, revenue and market acceptance of products and services. We do not assume any obligation to update any forward-looking statement. As a result, investors should not place undue reliance on these forward-looking statements.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective October 13, 2016, the board of directors of the Company appointed Robert Finigan to serve as President of the Company. Mr. Finigan was granted 3,000,000 stock options on October 13, 2016 as compensation for his service as President, which shall vest as 500,000 shares at the end of the first three months, 500,000 shares at the end of the seventh month, 1,000,000 shares on the one year anniversary of the grant date, and 1,000,000 shares on the eighteen-month anniversary of the grant date.
Mr. Finigan has served in interim C-Level executive roles and board advisory positions for several start-up and technology companies as Founder of Black Labs Ventures LLC, a strategy consulting firm from 2015 through 2016, in addition to leading product and marketing efforts as Chief Marketing Officer and Chief Branding Officer for Modere LLC, a global health and wellness brand from October 2012 through 2016. Mr. Finigan served as Executive Vice President for Mood Media, a global media and entertainment company from 2002 through 2012, and served as Vice President of New Media at Bank of America from 1999-2002. Mr. Finigan obtained a BFA in Design and Photography from the Rochester Institute of technology, College of Imaging Arts and Sciences in 1997.