UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-K/A

(Amendment No. 1)

 

(Mark one)

 

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended September 30, 2018

 

o TRANSITION REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Transition period from ________ to ____________

 

Commission File Number: 001-33937

 

Live Ventures Incorporated

(Exact Name of Registrant as Specified in Its Charter)

 

Nevada   85-0206668
(State or Other Jurisdiction of Incorporation or Organization)   (IRS Employer Identification No.)
     
325 E Warm Springs Road, Suite 102, Las Vegas, Nevada   89119
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (702) 997-5968

 

Securities registered under Section 12(b) of the Exchange Act: None

 

Securities registered under Section 12(g) of the Exchange Act:

 

Common Stock, $.001 Par Value

(Title of Class)

 

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐  No ☒

 

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐  No ☒

 

Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒  No ☐

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒  No ☐

 

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer ☐ Accelerated filer ☐
Non-accelerated filer ☐  Smaller reporting company
  Emerging growth company ☐

 

If any emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐  No  ☒

 

The aggregate market value of the registrant’s common stock held by non-affiliates computed based on the closing sales price of such stock on March 30, 2018 was $11,845,020.

 

The number of shares outstanding of the registrant’s common stock, as of December 15, 2018, was 1,945,247 shares.

 

DOCUMENTS INCORPORATED BY REFERENCE

 

None

 

 

   

 

 

EXPLANATORY NOTE

 

This Amendment No. 1 to the Annual Report on Form 10-K (“Form 10-K/A”) of Live Ventures Incorporated (the “Company”) amends our Annual Report on Form 10-K for the fiscal year ended September 30, 2018 which was originally filed with the Securities and Exchange Commission on December 27, 2018 (the “Original Form 10-K”). This amendment is being filed to (i) amend and restate in its entirety Item 9A, Controls and Procedures, to correct a typographical error and confirm that management concluded that the Company’s internal control over financial reporting was not effective as of September 30, 2018 and (ii) include the consent of WSRP, LLC, the Company’s independent registered public accounting firm, as Exhibit 23.1, which was inadvertently omitted from the Original Form 10-K. The Form10-K/A also includes new the certifications of our Chief Executive Officer and Chief Financial Officer in Exhibits 31.1, 31.2, 32.1 and 32.2. No other sections were affected. This report on Form 10-K/A is presented as of the filing date of the Original Form 10-K and does not reflect events occurring after that date or modify or update disclosures in any way other than as required to reflect the restatement described below.

 

 

 

 

 

 

 

 

 

 

 1 

 

 

  

ITEM 9A. Controls and Procedures

 

Evaluation of Disclosure control and Procedures. We carried out an evaluation, under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, of the effectiveness of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)). Based upon that evaluation, our principal executive officer and principal financial officer concluded that, as of September 30, 2018, the period covered in this report, our disclosure controls and procedures were not effective to ensure that information required to be disclosed in reports filed under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the required time periods and is accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

 

Changes in Internal Control Over Financial Reporting. There were no changes in the Company’s internal control over financial reporting during the quarter ended September 30, 2018, that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

 

Management’s Report on Internal Control Over Financial Reporting. Our management is responsible for establishing and maintaining adequate internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)). Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

 

Our management assessed the effectiveness of our internal control over financial reporting as of September 30, 2018. In making this assessment, we used the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”) of 2013 regarding Internal Control – Integrated Framework. Based on our assessment using those criteria, our management concluded that our internal control over financial reporting was not effective as of September 30, 2018.

 

The Company’s management, including the Company’s CEO and CFO, do not expect that the Company’s disclosure controls and procedures or the Company’s internal control over financial reporting will prevent or detect all error and all fraud. A control system, regardless of how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system will be met. These inherent limitations include the following: judgements in decision-making can be faulty, and control and process breakdowns can occur because of simple errors or mistakes, controls can be circumvented by individuals, acting alone or in collusion with each other, or by management override, the design of any system of controls is based in part on certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions, over time, controls may become inadequate because of changes in conditions or deterioration in the degree of compliance with policies or procedures. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected.

 

 

 

 

 2 

 

PART IV

 

ITEM 15.       Exhibits and Financial Statement Schedules

 

The following exhibits are filed with or incorporated by reference into this Annual Report.

 

Exhibit

Number

  Exhibit Description     Form   File
Number
  Exhibit
Number
    Filing Date
                         
2.1   Stock Purchase Agreement dated December 30, 2017 among Appliancesmart Holdings LLC, ApplianceSmart, Inc., and Appliance Recycling Centers of America, Inc.     10-Q   001-33937   10.1     02/14/18
                         
2.2   Bill of Sale and Assignment and Assumption Agreement dated December 21, 2018 by and between Viridian Fibers, LLC and Marquis Industries, Inc.      10-K   001-33937    2.2      12/27/18
                         
3.1   Amended and Restated Articles of Incorporation     8-K   000-24217   3.1     08/15/07
                         
3.2   Certificate of Change     8-K   001-33937   3.1     09/7/10
                         
3.3   Certificate of Correction     8-K   001-33937   3.1     03/11/13
                         
3.4   Certificate of Change     10-Q   001-33937   3.1     02/14/14
                         
3.5   Articles of Merger     8-K   001-33937   3.1.4     10/8/15
                         
3.6   Certificate of Change     8-K   001-33937   3.1.5     11/25/16
                         
3.7   Certificate of Designation for Series B Convertible Preferred Stock filed with Secretary of State for the State of Nevada on December 23, 2016, and effective as of December 27, 2016     10-K   001-33937   3.1.6     12/29/16
                         
3.8    Bylaws     10-Q   001-33937   3.8     08/14/2018
                         
4.1   Waiver Agreement dated September 6, 2017     10-K     001-33937   4.1     01/18/2018 
                         
10.1   Note and Warrant Purchase Agreement, dated April 3, 2012 (the “Note and Warrant Purchase Agreement”), by and between the Registrant and Isaac Capital Group LLC     10-Q   001-33937   10.1     05/15/12
                         
10.2   Senior Subordinated Convertible Note (under Note and Warrant Purchase Agreement)     10-Q   001-33937   10.2     05/15/12
                         
10.3   Subordinated Guaranty (under Note Purchase and Warrant Agreement)     10-Q   001-33937   10.3     05/15/12

 

 

 

 3 

 

 

                         
10.4   Form of Warrant (under Note and Warrant Purchase Agreement)     10-Q   001-33937   10.4     05/15/12
                         
10.5   First Amendment to Note Purchase Agreement, made and entered into as of April 3, 2012, by and between the Registrant and Isaac Capital Group LLC     10-K   001-33937   10.12.1     01/15/13
                         
10.6   Warrant Amendment dated as of December    , 2014     10-K    001-33937   10.9     01/18/2018 
                         
10.7   Warrant Amendment dated as of December 27, 2016     10-K    001-33937   10.10     01/18/2018 
                         
10.8   Amendment to Warrants dated as of January 16, 2018     10-K    001-33937   10.11     01/18/2018 
                         
10.9   Convertible Note Purchase Agreement, dated as of January 7, 2014, by and between the Registrant and Kingston Diversified Holdings LLC (the “2014 Note Purchase Agreement”)     10-K   001-33937   10.7     12/29/16
                         
10.10   Form of Convertible Note (under 2014 Note Purchase Agreement)     10-K   001-33937   10.11     01/10/14
                         
10.11   Form of Warrant (under 2014 Note Purchase Agreement)     10-K   001-33937   10.12     01/10/14
                         
10.12   Amendment No. 1 to Convertible Note Purchase Agreement, dated as of October 29, 2014, by and between the Registrant and Kingston Diversified Holdings LLC     10-K   001-33937   10.7a     12/29/16
                         
10.13   Amendment No. 2 to Convertible Note Purchase Agreement, dated as of December 21, 2016, by and between the Registrant and Kingston Diversified Holdings LLC     10-K   001-33937   10.7b     12/29/16
                         
10.14   Share Exchange Agreement between Isaac Capital Group, LLC and Live Ventures Incorporated, dated December 27, 2016     10-Q   001-33937   10.1     02/09/17
                         
10.15   Purchase Agreement, dated as of July 6, 2015 by and among the Registrant, Marquis Affiliated Holdings LLC, Marquis Industries, Inc. and the stockholders of Marquis Industries, Inc.     10-K   001-33937   10.15     01/13/16
                         
10.16   Loan and Security Agreement, dated as of July 6, 2015 by and among Marquis Affiliated Holdings LLC, Marquis Industries, Inc., A-O Industries, LLC, Astro Carpet Mills, LLC, Constellation Industries, LLC and S F Commercial Properties, LLC, as Borrowers, and Bank of America, N.A. as Lender.     10-K   001-33937   10.16     01/13/16

 

10.17   Subordinated Loan and Security Agreement, dated as of July 6, 2015 by and among Marquis Affiliated Holdings, LLC, Marquis Industries, Inc., A-O Industries, LLC, Astro Carpet Mills, LLC, Constellation Industries, LLC and SF Commercial Properties, LLC as Borrowers and Isaac Capital Fund I, LLC as Lender     10-K   001-33937   10.17     01/13/16
                         
10.18   Lease Agreement, effective July 6, 2015, by and between 716 River Street Partners LLC, as lessor and Constellation Industries, LLC as lessee     10-K   001-33937   10.18     01/13/16
                         
10.19   Agreement, effective November 30, 2015 by and among the Registrant, Marquis Affiliated Holdings LLC, Marquis Industries, Inc. and the stockholders of Marquis Industries, Inc.     10-Q   001-33937   10.1     02/16/16

 

 

 

 4 

 

 

                         
10.20   Promissory Note dated June 14, 2016, by Marquis Real Estate Holdings, LLC in favor of STORE Capital Acquisitions LLC     10-Q   001-33937   10.1     08/15/16
                         
10.21   Mortgage Loan Agreement dated June 14, 2016 by and between STORE Capital Acquisitions LLC and Marquis Real Estate Holdings, LLC     10-Q   001-33937   10.2     08/15/16
                         
10.22   Master Lease Agreement dated June 14, 2016 by and between STORE Capital Acquisitions LLC and Marquis Real Estate Holdings, LLC     10-Q   001-33937   10.3     08/15/16
                         
10.23   Purchase and Sale Agreement dated June 14, 2016 by and between STORE Capital Acquisitions LLC and Marquis Real Estate Holdings, LLC     10-Q   001-33937   10.4     08/15/16
                         
10.24   Equipment Security Note between Banc of America Leasing & Capital, LLC and Marquis Industries, Inc.     10-Q   001-33937   10.2     02/09/17
                         
10.25   Fifth Amendment to Loan and Security Agreement between Banc of America Leasing & Capital, LLC and Marquis Industries, Inc. dated February 28, 2017     10-Q   001-33937   10.1     05/11/17
                         
10.26   Consent and Sixth Amendment to Loan and Security Agreement dated June 5, 2018 among Marquis Affiliated Holdings LLC, Marquis Industries, Inc., Bank of America, N.A., and the other parties thereto     10-Q   001-33937   10.7     08/14/2018
                         
10.27   Consent to Turf Business Sale dated December 19, 2018 among Bank of America, N.A., Marquis Affiliated Holdings LLC, and Marquis Industries, Inc.      10-K   001-33937    10.27      12/27/18
                         
10.28   Seventh Amendment to Loan and Security Agreement dated December 24, 2018 among Marquis Affiliated Holdings LLC, Marquis Industries, Inc., and Bank of America, N.A.      10-K   001-33937    10.28      12/27/18
                         
10.29   Stock Purchase Agreement by and among Vintage Stock Affiliated Holdings LLC (an affiliate of the Registrant), Vintage Stock, Inc., and the Shareholders of Vintage Stock, Inc., dated November 3, 2016     10-K   001-33937   10.22     12/29/16

 

10.30   Amended and Restated Subordinated Promissory Note of Vintage Stock Affiliated Holdings LLC in favor of certain of the Shareholders of Vintage Stock, Inc., dated June 7, 2018      10-K   001-33937    10.30      12/27/18
                         
10.31   Amended and Restated Subordination Agreement by and among Rodney Spriggs, in his capacity as the representative of certain of the Shareholders of Vintage Stock, Inc., and Wilmington Trust, National Association, dated June 7, 2018      10-K   001-33937    10.31      12/27/18
                         
10.32   Loan Agreement between Vintage Stock, Inc. and Texas Capital Bank, National Association, dated November 3, 2016     10-K   001-33937   10.27     12/29/16
                         
10.33   First Amendment to Loan Agreement between Texas Capital Bank, National Association and Vintage Stock, Inc., dated January 23, 2017     10-K    001-33937   10.30     01/18/2018 
                         
10.34   Second Amendment to Loan Agreement dated September 20, 2017 between Texas Capital Bank, National Association and Vintage Stock, Inc.     10-K    001-33937   10.31     01/18/2018 

 

 

 

 5 

 

 

                         
10.35   Third Amendment to Loan Agreement dated June 7, 2018 between Texas Capital Bank, National Association and Vintage Stock, Inc.     8-K   001-33937   10.3     06/11/2018
                         
10.36   Revolving Credit Note of Vintage Stock Inc., in favor of Texas Capital Bank, National Association, dated November 3, 2016     10-K   001-33937   10.28     12/29/16
                         
10.37   Security Agreement of Vintage Stock Inc., in favor of Texas Capital Bank, National Association, dated November 3, 2016     10-K   001-33937   10.29     12/29/16
                         
10.38   Waiver Agreement by and among Texas Capital Bank, National Association and Vintage Stock, Inc., dated March 15, 2018     8-K   001-33937   10.12     03/15/18
                         
10.39   Term Loan Agreement among Vintage Stock Inc., Vintage Stock Affiliated Holdings LLC, the Subsidiaries of the Borrowers Party Hereto, the Lenders Party Hereto, Wilmington Trust, National Association, as Administrative Agent, and Capitala Private Credit Fund V, L.P., as Lead Arranger, dated November 3, 2017     10-K   001-33937   10.30     12/29/16
                         
10.40   First Amendment and Waiver to Term Loan Agreement by and among Vintage Stock Affiliated Holdings, LLC, Vintage Stock, Inc., Wilmington Trust, National Association, Capitala Private Credit Fund V, L.P., and the other parties thereto dated October 10, 2017     8-K   001-33937   10.1     10/13/17
                         
10.41   Second Amendment and Waiver to Term Loan Agreement by and among Vintage Stock Affiliated Holdings, LLC, Vintage Stock, Inc., Wilmington Trust, National Association, Capitala Private Credit Fund V, L.P., and the other parties thereto dated March 15, 2018     8-K   001-33937   10.1     03/16/18
                         
10.42   Form of Note under the Capitala Term Loan Agreement     10-K   001-33937   10.31     12/29/16

 

10.43   Security and Pledge Agreement among Vintage Stock Affiliated Holdings LLC, Vintage Stock, Inc., and Wilmington Trust, National Association, as Administrative Agent, dated November 3, 2016     10-K   001-33937   10.32     12/29/16
                         
10.44   Amended and Restated Promissory Note issued by ApplianceSmart Holdings LLC      10-K   001-33937    10.44      12/27/18
                         
10.45   Security Agreement dated December 26, 2018 by and between ApplianceSmart Holdings LLC and Appliance Recycling Centers of America, Inc.      10-K   001-33937    10.45      12/27/18
                         
10.46   Security Agreement dated December 26, 2018 by and between ApplianceSmart, Inc. and Appliance Recycling Centers of America, Inc.      10-K   001-33937    10.46      12/27/18
                         
10.47   Amended and Restated Credit Agreement, dated as of June 7, 2018, by and among the lenders from time to time party thereto, Comvest Capital IV, L.P., Vintage Stock, Inc., and Vintage Stock Affiliated Holdings LLC     8-K   001-33937   10.1     06/11/2018
                         
10.48   Limited Guaranty, dated as of June 7, 2018, by Live Ventures Incorporated in favor of Comvest Capital IV, L.P.     8-K   001-33937   10.2     06/11/2018

 

 

 

 6 

 

 

                         
10.49 Employment Agreement between LiveDeal, Inc. and Jon Isaac     10-Q   001-33937   10.1     05/14/13
                         
10.50 Amendment to Employment Agreement dated January 16, 2018 between Live Ventures Incorporated and Jon Isaac     10-K    001-33937   10.39     01/18/2018 
                         
10.51 Employment Agreement between the Live Ventures Incorporated and Virland A. Johnson, dated January 3, 2017     8-K   001-33937   10.1     01/05/17
                         
10.52 Incentive Stock Option Agreement between Live Ventures Incorporated and Virland A. Johnson, dated January 3, 2017     8-K   001-33937   10.2     01/05/17
                         
10.53 Employment Agreement between Live Ventures Incorporated and Michael J. Stein, effective October 2, 2017     8-K   001-33937   10.1     10/02/17
                         
10.54 Incentive Stock Option Agreement between Live Ventures Incorporated and Michael J. Stein, effective October 2, 2017     8-K   001-33937   10.2     10/02/17
                         
10.55 Employment Agreement between Vintage Stock Inc. and Rodney Spriggs, dated November 3, 2016     10-K   001-33937   10.25      12/29/16
                         
10.56 Non-qualified Stock Option Agreement between the Registrant and Rodney Spriggs, dated November 3, 2016     10-K   001-33937   10.26      12/29/16

  

10.57 Employment Agreement between Marquis Industries, Inc. and Weston A. Godfrey, Jr., dated January 22, 2018      10-K   001-33937    10.57      12/27/18
                         
10.58 Employment Agreement between Marquis Industries, Inc. and Timothy A. Bailey, dated July 6, 2015     10-K   001-33937   10.46     01/18/18
                         
10.59 Amendment to Employment Agreement between Marquis Industries, Inc. and Timothy A. Bailey, dated January 16, 2018     10-K    001-33937   10.47     01/18/18
                         
10.60 LiveDeal, Inc. Amended and Restated 2003 Stock Plan     10-K   000-24217   10.1     12/20/07
                         
10.61 First Amendment to Amended and Restated 2003 Stock Plan     DEF 14A   001-33937   Appendix A to 2009 Proxy Statement       01/29/09
                         
10.62 Second Amendment to the LiveDeal, Inc. Amended and Restated 2003 Stock Plan     DEF 14A   001-33937   Appendix A to 2012 Proxy Statement     01/27/12
                         
10.63 Form of 2003 Stock Plan Restricted Stock Agreement     10-Q   000-24217   10     05/16/05
                         
10.64 Form of 2003 Stock Plan Stock Option Agreement     10-K   001-33937   10.3     12/29/08
                         
10.65 2014 Omnibus Equity Incentive Plan     DEF 14A   001-33937   Appendix A to 2014 Proxy Statement     06/23/14

 

 

 7 

 

 

 

                         
10.66   Engagement Agreement, dated as of May 16, 2014, by and between the Registrant and Chardan Capital Markets LLC     10-Q   001-33937   1.1     05/20/14
                         
10.67   Reinstatement and First Amendment to the Engagement Agreement, dated, 2014 with Chardan Capital Markets LLC     10-K    001-33937   10.55     01/18/18
                         
14   Code of Business Conduct and Ethics, Adopted December 31, 2003     10-QSB       14     05/13/04
                         
16.1   Letter from BDO USA, LLP     8-K   001-33937   16.1     02/02/18
                         
16.2   Letter from SingerLewak LLP     8-K   001-33937   16.1     10/18/18
                         
21.1   List of Subsidiaries of the Registrant      10-K   001-33937   21.1     12/27/18
                         
23.1 * Consent of WSRP, LLC independent registered public accounting firm                    
                         
23.2   Consent of BDO USA, LLP, independent registered public accounting firm      10-K   001-33937   23.2     12/27/18
                         
31.1 * Certification of the President and Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                    
                         
31.2 * Certification of the Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002                    
                         
32.1 * Certification of the President and Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                    
                         
32.2 * Certification of the Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                    
                         
101   The following materials from the Company’s Annual Report on Form 10-K, formatted in XBRL (eXtensible Business Reporting Language): (i) the Consolidated Balance Sheets as of September 30, 2017 and 2016, (ii) the Consolidated Statements of Operations for the Years Ended September 30, 2017 and 2016, (iii) Consolidated Statements of Stockholders’ Equity for the Years Ended September 30, 2017 and 2016, (iv) the Consolidated Statements of Cash Flows for the Years Ended September 30, 2017 and 2016, and (iv) the Notes to Consolidated Financial Statements      10-K   001-33937          12/27/18

______________________________

  * Filed herewith

 

 

  Indicates a management contract or compensatory plan or arrangement.

 

 

 

 8 

 

 

SIGNATURES

 

Pursuant to the requirements of Section 13 or 15(d) of the Exchange Act, the registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  LIVE VENTURES INCORPORATED
   
  /s/ Jon Isaac
  Jon Isaac
  President and Chief Executive Officer
  Date:  April 23, 2019

 

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

SIGNATURE   TITLE   DATE
         
/s/ Jon Isaac   President and Chief Executive Officer Director    
Jon Isaac   (Principal Executive Officer)   April 23, 2019
         
/s/ Virland A. Johnson   Chief Financial Officer    
Virland A. Johnson   (Principal Financial Officer and Principal Accounting Officer)   April 23, 2019
         
/s/ Tony Isaac        
Tony Isaac   Director   April 23, 2019
         
/s/ Richard D. Butler, Jr.        
Richard D. Butler, Jr.   Director   April 23, 2019
         
/s/ Dennis Gao        
Dennis Gao   Director   April 23, 2019
         
/s/ Tyler Sickmeyer        
Tyler Sickmeyer   Director   April 23, 2019