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 August 6, 2020, the board of directors of CurAegis Technologies, Inc. (the “Company”) appointed Mr. Jason Burke to serve as the Companys Chief Financial Officer. Mr. Burke is the chief executive officer of Positive Venture Group Inc. (“PVG”), a position he has held since 2015.
Mr. Burke, age 47, in addition to serving as the chief executive officer of PVG, currently serves as the chief financial officer on a contractual basis for a number of development stage companies, none of which are affiliated with the Company, including Quantropi Inc., a Canada based company providing solutions for quantum secure communications, Fluence Technologies Inc., a Canada based company providing cloud accounting and consolidation services, 1Valet, a Canada based company providing a technology platform for mixed-use, multi-residential space smart living, Orion Biotechnology, a Canada based clinical stage biopharmaceutical company, The Open Application Network, a company providing a public infrastructure that creates a new design space for open applications, and BetterU Education Corporation, an education technology company providing services in Canada and India.
Mr. Burke also serves as a member of the board of directors of The Hotel Communications Network, Inc., a Canada based company providing hotel guest-room tablet technology, and the Foundation for the Canada Museum of Science and Technology.
Prior to March 2020, Mr. Burke served as the chief financial officers on a contractual basis for a number of other development stage businesses, none of which were affiliated with the Company, including Zepheira, a Columbus Ohio based company that provided large-scale decentralized linked data infrastructure, Sensibill, a Canada based company providing financial tools and SKU-level data services to financial institutions, Symend Inc., a Canada based company providing behavioral analytics services, reDock, a Canada based company providing AI powered search engine services, and CloudCheckr Inc., a Rochester, New York based company that provided cloud based management services, and The Better Software Company, a U.S. based software company.
Mr. Burke earned a Bachelors degree in Business Administration from St. Francis Xavier University in Antigonish, Nova Scotia. Mr. Burke also successfully earned his Chartered Accountant designation from the Institute of Chartered Accountants of Ontario in 1998 and his Certified Public Accountant Designation from the University of Illinois in 2001.
There is no arrangement or understanding between Mr. Burke and any other persons pursuant to which Mr. Burke was selected as an officer. There are no family relationships between Mr. Burke and any director, executive officer or person nominated or chosen by the Company to become a director or executive officer of the Company within the meaning of Item 401(d) of Regulation S-K. Since the beginning of the Companys last fiscal year, the Company has not engaged in any transaction in which Mr. Burke had a direct or indirect material interest within the meaning of Item 404(a) of Regulation S-K.
On June 1, 2020, the Company engaged PVG to provide outsourced finance and related services, as well as certain onboarding services. PVG provides a broad range of accounting, finance, and consulting services to growth stage businesses. The Company pays $11,500 per month to PVG in connection with the outsourced finance and related services.
Also, on August 6, 2020, the board of directors of the Company appointed Mr. Aaron Newman to the Companys Audit Committee to replace Mr. Lance Drummond. Mr. Drummond continues in his capacity as a director.