UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 30, 2020
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THE CORETEC GROUP INC. |
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(Exact name of registrant as specified in its charter) |
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Oklahoma |
000-54697 |
73-1479206 |
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(State or other jurisdiction of incorporation or organization) |
(Commission File Number) |
IRS Employer Identification No.) |
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6804 South Canton Avenue, Suite 150 Tulsa, OK |
74136 |
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(Address of Principal Executive Offices) |
(Zip Code) |
(918) 494-0505
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
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N/A |
N/A |
N/A |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging Growth Company ☐
If an 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 provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Director or Certain Officers; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On June 30, 2020, Ronald Robinson resigned as Chief Financial Officer of the Company, effective immediately. Mr. Robinson indicated that he resigned as planned to enter full retirement and plans to focus on personal commitments and family, which commitments no longer allow him to fulfill the requirements of Chief Financial Officer. Accordingly, Mr. Robinson’s resignation was not a result of any dispute with the Company.
On June 30, 2020 the Board of Directors of the Company appointed Matthew Hoffman as its Chief Financial Officer, effective June 30, 2020.Since May 2020, he has served as Director of Finance of the Company. Prior to joining the Company, Mr. Hoffman was the Executive Director of Finance at Covance, Inc., from March 2019 through February 2020. From 2014 through 2019, he was Chief Financial Officer of MI Bioresearch. In these prior roles, Mr. Hoffman was responsible for all financial aspects of early stage company growth through acquisition, business unit financial reporting and forecasting, system integration and guidance to ERP platform, budgeting and business structure development. His leadership skills enabled strong financial performance at his former companies by managing cash flow and scaling the organizations while achieving 30-40% compounded annual growth. In his most recent year with Covance, the company achieved a 20 percent growth in revenue and 57 percent growth in profit over the prior year. From November 2012 through April 2014, Mr. Hoffman served as a partner of Onset CFO, LLC, and, from January 2011 through October 2012, he served as Vice President of Finance & Administration at Ultra Electronics, AMI.
In connection with Mr. Hoffman’s appointment, the Company did not enter into any material arrangement, however, Mr. Hoffman’s compensation will continue in the same scope as his prior role as Director of Finance. On June 30, 2020, the Company issued a press release announcing the appointment of Mr. Hoffman. A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit No. |
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Description |
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99.1 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Date: June 30th, 2020
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The Coretec Group Inc.
By: /s/ Michael A. Kraft |
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Name: Michael A. Kraft Position: Chief Executive Officer |
Exhibit 99.1
The Coretec Group Appoints Matthew Hoffman as Chief Financial Officer
Hoffman will take the place of longstanding CFO Ronald W. Robinson, overseeing the Company's financial strategy
ANN ARBOR, MI / ACCESSWIRE / June 30, 2020 / The Coretec Group, Inc., (OTC PINK:CRTG) (the "Company"), a company developing a portfolio of silicon-based materials utilizing Cyclohexasilane ("CHS") to pursue commercial development of products in energy-focused verticals, announced today it has appointed Matthew Hoffman as its Chief Financial Officer (CFO).
Effective immediately, Hoffman will transition from his existing role as Director of Finance to CFO, taking the place of Ronald W. Robinson who will be retiring from his position as Coretec's CFO. Since his appointment as Coretec's Director of Finance in May 2020, Hoffman has worked side-by-side with Robinson to prepare for and take on the responsibilities of the role, including managing the Company's SEC filings and financial strategy.
Hoffman is a Certified Public Accountant (CPA) with over 20 years of experience in the financial industry and a longstanding presence in the Ann Arbor business community. Before joining The Coretec Group, he was the CFO of MI Bioresearch and Executive Director of Finance at Covance, Inc., where his leadership increased financial performance with a 20 percent growth in revenue and 57 percent growth in profit over the prior year.
"Matthew quickly stepped in to lead Coretec's financial projects as the Director of Finance, and his performance in doing so was exemplary. Ron has also been diligent in transitioning the SEC functions to Matthew and I am confident that he will be an excellent CFO as we enter into the commercial phase for our CHS technology," said Michael Kraft, Chief Executive Office of The Coretec Group. "The transition has been seamless thanks to the dedication, coordination and cooperation of both Matthew and Ron. As Ron transitions out of the CFO role, we'd like to thank him for his many years of service to Coretec, and his leadership in helping establish the foundation for the Company. I have enjoyed working with Ron very much and we all wish him the best in his retirement."
To learn more about The Coretec Group, please visit www.thecoretecgroup.com.
About The Coretec Group, Inc. The Coretec Group, Inc. (the "Company") utilizes a portfolio of silicon-based and volumetric display materials to pursue commercial development of products in energy-focused verticals such as energy storage, solar, and solid-state lighting, as well as printable electronics and 3D volumetric displays. For more information, visit www.thecoretecgroup.com. Follow The Coretec Group on Twitter and Facebook.
Forward-Looking Statements:The statements in this press release that relate to the company's expectations with regard to the future impact on the company's results from operations are forward-looking statements, and may involve risks and uncertainties, some of which are beyond our control. Such risks and uncertainties are described in greater detail in our filings with the U.S. Securities and Exchange Commission. Since the information in this press release may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. We make no commitment to disclose any subsequent revisions to forward-looking statements. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
Corporate contact:The Coretec Group, Inc.Judy Keating918-494-0509
Media contact:FischTank PRcoretec@fischtankpr.com646-699-1414