On July 19, 2016, Nancy Agger-Nielsen resigned both as Chief Financial Officer and Secretary of Talon International, Inc. In connection with Ms. Agger-Nielsen's resignation, the company entered into a consulting agreement with Ms. Agger-Nielsen. The Consulting Agreement requires that Ms. Agger-Nielsen provide them with certain transition services through November 19, 2016, and that she comply with certain covenants regarding confidentiality and proprietary information. On July 22, 2016, Larry Dyne, the company's Chief Executive Officer, was appointed as the company's Interim Chief Financial Officer, with such position being vacant.

Effective July 19, 2016, Daniel Ryu was appointed as the company's Chief Strategy Officer. Mr. Ryu also was appointed Secretary of the Corporation on July 22, 2016. Mr. Ryu has over 25 years of experience in business operations, leadership and strategic planning.

Most recently, Mr. Ryu served as Chief Operating Officer of Fanatics, Inc.