Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(c) Effective December 31, 2020, the Registrant reappointed Terry Buffalo, Ellis
Smith and Tad Mailander as directors; Terry Buffalo as the Registrant's
Principal Executive Officer and Principal Financial Officer; Ellis Smith as the
Registrant's President; Tyler A. Schloesser as the Registrant's Chief Operations
Officer; and, Jon Workman as the Registrant's Vice-President of Sales, each for
a one year term expiring December 31, 2021.
Since the beginning of the Registrant's last fiscal year to the effective date
of the reappointment of the Registrant's directors and executive officers, none
have been a participant, nor have they had any direct or indirect material
interest in any transaction in which the Company was or is to be a participant,
in an amount exceeding $120,000.
Mr. Ellis Smith
Ellis Smith, age 44, has served as an officer and director since September 2014.
In March 2013, Mr. Smith co-founded ACC, and from March 2013 to May 2014, Mr.
Smith served as a Managing Director of the Company. From September 2010 to July
2013, Mr. Smith co-owned Colorado Kind Care LLC d/b/a The Village Green Society,
a Colorado-based Medical Marijuana Center, where he was responsible for managing
the operations and protocols supporting the growth and production of medical
marijuana. From 2008 to 2010, Mr. Smith founded and operated The Happy Camper
Organics Inc., a medical cannabis company focused on the growth of wholesale
cannabis for sale to medical cannabis businesses. From 2005 to 2010, Mr. Smith
founded and operated Bluebird Productions, a video production company. Mr. Smith
has been published and recognized for his horticultural experience and organic
gardening in the cannabis industry, and he is known for assisting in identifying
the Hemp Russet Mite and working with SKUNK magazine to educate the industry.
Mr. Smith agreed to render services as director and President to the Registrant,
and the Registrant agreed to compensate Mr. Smith with an annual salary of
$99,000.00, and 25,000 shares of common stock for his services as President, and
separately 50,000 shares of common stock for his services as director, deemed
earned and vested at December 31, 2021.
Mr. Terry Buffalo
Terry Buffalo, age 55, is an executive in the financial services industry, with
extensive experience including managing a hybrid FINRA broker-dealer and
Registered Investment Advisor firm. Mr. Buffalo is regarded as an expert in
these fields with publications in Financial Advisor Magazine and NAIFA's Advisor
Today, as well as being a featured interview in Boomer Market Advisor. Prior to
founding Buffalo Financial Solutions, Mr. Buffalo was the Chief Executive
Officer of a regional broker dealer for over 10 years, where he took an
underperforming firm and revamped the business model from a corporate to an
independent structure, with an emphasis on attracting brokers with established
clienteles. While there, the firm consistently produced net profits of 7%,
compared to industry average among peers that ranged between negative to 1.5%,
while expanding the firm's overall assets from $400 million to over $2 billion.
Mr. Buffalo agreed to render services as director, Principal Executive Officer
and Principal Financial Officer to the Registrant, and the Registrant agreed to
compensate Mr. Buffalo with an annual salary of $150,000.00, and 25,000 shares
of common stock for his services as Principal Executive Officer and Principal
Financial Officer, and separately 50,000 shares of common stock for his services
as director, deemed earned and vested at December 31, 2021.
Mr. Tad Mailander
Mr. Mailander, age 65, serves as independent director. Mr. Mailander is an
attorney licensed to practice before all of the Courts in the State of
California. Mr. Mailander has been in practice since 1991 and is a member of the
State Bar of California, the bars of the United States District Court for the
Southern District of California, and the United States Court of Appeal for the
Ninth Circuit.
Mr. Mailander agreed to render services as independent director to the
Registrant, and the Registrant agreed to compensate Mr. Mailander with 50,000
shares of common stock deemed earned and vested at December 31, 2021.
Mr. Tyler A. Schloesser
Tyler Schloesser, age 30, attended the University of Colorado at Boulder
receiving a double major degree in Psychology and Philosophy. After graduation,
Mr. Schloesser worked in the banking industry with Wells Fargo, U.S. Bank and
Credit Union of Colorado. Mr. Schloesser's functions with the Registrant.
include developing and maintaining policies, procedures, processes and risk
mitigation best practices as well as manage and perform day-to-day internal
operational tasks required by the Registrant.
Mr. Schloesser agreed to render services as Chief Operations Officer to the
Registrant, and the Registrant agreed to compensate Mr. Schloesser with an
annual salary of $80,000.00, and 25,000 shares of common stock deemed earned and
vested at December 31, 2021.
Mr. Jon Workman
Jon Workman, age 57, graduated from the University of Arkansas at Little Rock in
1989 and was awarded a Bachelor of Business Administration and Marketing. Mr.
Workman is a member of the Arkansas Cannabis Industry Association and a Charter
Member of the Arkansas Hemp Association. In 2017, the Arkansas Economic
Development Commission certified Mr. Workman in its Lean Manufacturing program.
Mr. Workman received his HACCP (Hazard Analysis Critical Control Point) & SQF
Food Safety Certifications in 2016.
Mr. Workman agreed to render services as Vice President of Sales to the
Registrant, and the Registrant agreed to compensate Mr. Workman with an annual
salary of $78,000.00, and 25,000 shares of common stock deemed earned and vested
at December 31, 2021.
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