On May 1, 2012 Joseph Cosio-Barron resigned as a member of the Board of Directors of Las Vegas Railway Express Inc. Mr. Cosio-Barron's resignation was not the result of any disagreement with the company on any matter relating to the company's operations, policies or practices. Mr. Cosio-Barron was not a member of any committees. On May 8, 2012, Las Vegas Railway Express Inc. elected Mr. Tom Mulligan as a director of the company to replace Mr. Joseph Cosio-Barron, effective May 8, 2012. Mr. Mulligan was an operations executive at Union Pacific for nearly 40 years, with experience in management, transportation, dispatching, budgeting and operations administration. Mr. Mulligan recently retired from Union Pacific Railroad after being elected to the Omaha City Council.