ITEM 5.02-DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On January 30, 2018, Green EnviroTech Holdings Corp. announced that Gary De
Laurentiis will resign as our chief financial officer. Mr. De Laurentiis will
remain as our Secretary-Treasurer and Chairman of our board of directors.
Our new chief financial officer will be Hernan Rizo, 43. Mr. Rizo has been the
president of The CFO Group, an interim and permanent chief financial officer
services organization since 2015, has also been the chief financial officer of
Tatum, a financial and technology consulting and advisory firm since 2008, and
was the chief financial officer of Fleetserve LLC from 2012 to 2014. In his work
with The CFO Group, he has served as the chief financial officer of a number of
entities, including Real Estate Acquisition Development Sales, LLC, the entity
that has provided us with a lease and working capital credit facility. Mr. Rizo
has a BS in finance and accounting from Externado University of Colombia and an
MBA from the University of Texas at Arlington.
Mr. Rizo will receive a salary of $240,000 per year, the majority of which will
be accrued rather than paid until we are financially able to pay salaries.
Additionally, he will be eligible for bonuses, computed quarterly and paid no
less frequently than annually, based on the performance of the company and on
his own performance. Upon his engagement with us, we granted to Mr. Rizo an
option to purchase 250,000 shares of our common stock at an exercise price of
$0.10 per share, vesting monthly over a four-year period.
ITEM 9.01-FINANCIAL STATEMENTS AND EXHIBITS
The following is filed as an exhibit to this report:
Number* Title of Document Location
Item 99 Miscellaneous
99.01 Press release dated January 30, 2018 Attached
* All exhibits are numbered with the number preceding the decimal indicating the
applicable SEC reference number in Item 601 and the number following the
decimal indicating the sequence of the particular document.
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