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Note 16: Subsequent Events
12 Months Ended
Dec. 31, 2014
Notes  
Note 16: Subsequent Events

Note 16:  Subsequent Events

 

On January 15, 2015, the Company entered into an employment agreement with its Clinton E. Carnell, Jr., to serve as President and Chief Executive Officer.

 

Effective February 16, 2015, the Company entered into an employment agreement with Benjamin Beckham to serve as Vice President of North American Sales.

 

Effective February 16, 2015, the Company entered into an employment agreement with Todd Turnlund to serve as Vice President of Research and Development.

 

Effective February 17, 2015, the Company entered into an employment agreement with Jen Hoglin to serve as Vice President of Global Marketing.

 

Effective February 20, 2015, Perseon Corporation amended its certificate of incorporation to change its legal corporate name to “Perseon Corporation” from “BSD Medical Corporation.”   The name change was effected pursuant to Section 242 of the Delaware General Corporation Law (the “DGCL”).  Under the DGCL, the amendment to the Company’s certificate of incorporation to effect the name change did not require stockholder approval.

 

On February 24, 2015, the Company executed a promissory note with an asset lender, in the amount of $750,000.   The note is secured by the Company’s headquarters and manufacturing facility.  During the one year term of the note, monthly payments of interest only at Prime Rate plus 6.0% are required, with the principal due on February 24, 2016.

 

The Company has evaluated other events occurring after the date of our accompanying balance sheets through the date of the filing of this Transition Report on Form 10-K.  No other material subsequent events requiring adjustment to our accompanying financial statements were identified.