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Subsequent Events
12 Months Ended
Dec. 31, 2015
Subsequent Events [Abstract]  
Subsequent Events

Note 11 – Subsequent Events

 

Assignment of Wiz Wizard

 

On February 4, 2016, the member of the Board assigned his fifty percent (50%) membership interest to the Company. Consequently, Wiz Wizard is a wholly-owned subsidiary of the Company.

 

Appointment of Chairman of the Board

 

Effective February 5, 2016, the Board of the Company unanimously approved the appointment of Mr. John Maatta as the independent, non-executive Chairman of the Board. Mr. Maatta has served as a member of the Board since May 25, 2011.

 

Employment Agreement

 

Effective as of March 2, 2016, the Company entered into an employment agreement (the “Malinoff Employment Agreement”) with Randall S. Malinoff in connection with his appointment as the Company’s Interim Chief Operating Officer. The initial term of the Malinoff Employment Agreement is for ninety (90) days from the date of execution. Such term may be extended by mutual agreement for successive ninety (90) day periods. The Company shall pay Mr. Malinoff an annual base salary of $150,000.