On November 6, 2017, Social Reality, Inc. notified Mr. Anthony William Packer that he would not be re-nominated to serve on the Board of Directors of the company at the upcoming annual meeting as a result of its desire to reduce the size of its Board. Following the notification, Mr. Packer resigned as a member of the Board of Directors. Mr. Packer had served on the Board since August 2016 and was a member of the Audit Committee of the Board. Following Mr. Packer's resignation, the Board expects to appoint Mr. Mark Savas, an independent director, to fill the vacancy on the Audit Committee created by Mr. Packer's resignation.
SRAX Inc. is a technology company, which is focused on enhancing communications between public companies and their shareholders and investors. The Company operates through a single segment, which consists of two distinct business units. The Sequire business unit includes the licensing of the Companyâs proprietary software-as-a-service (SaaS) platform and associated data analysis technologies, consumer and investor targeted marketing solutions. Sequire provides users with various features, which allows issuers to track their shareholdersâ behaviors and trends, then use data-driven insights to engage with shareholders across marketing channels. LD Micro business unit is engaged in the business of hosting events and conferences for microcap public companies. LD Micro organizes and hosts investor conferences within the micro and small-cap markets, and plans to create several more niche events for the investor community.