Union Equity Inc. announced several changes to the corporate management team and operations of the company, including the resignations of Charles R. Lance, Martha Lance and Susan Lamm as members of the company's Board of Directors and officers. The company also announced the election of Joseph Thornburg, as the Chief Executive Officer, Secretary and sole Director. The company accepted the resignations of Charles Lance and Susan Lamm on December 12, 2012.

Charles R. Lance and Susan Lamm resigned to pursue other opportunities there are no disagreements with Charles Lance and Susan Lamm on any matter relating to Union Equity's operations, policies or practices. The company also accepted the resignation of Matthew Nicoletti from all of his positions with the company on October 29, 2012.