The Board of Directors of Green Ballast, Inc. terminated William H. Bethell from his position as Chief Financial Officer and Treasurer of the Company, effective as of June 28, 2013. The Board of Directors of the Company appointed Penelope Springer as the Company's principal accounting officer, effective as of June 28, 2013. Ms. Springer is the Chief Financial Officer of CB Richard Ellis Memphis, LLC (“CB Richard Ellis”).

At CB Richard Ellis, Ms. Springer is responsible for all financial operations of the company, including budgeting, financial analysis and reporting, commission-generated revenue, and the monitoring of compliance with established accounting policies and procedures. Prior to joining CB Richard Ellis in 1994, Ms. Springer worked with Coopers and Lybrand, which is now doing business as PricewaterhouseCoopers. During her five years at Coopers and Lybrand, she was a senior associate in the audit department.