On March 24, 2016, Tamara Semenova as Chief Executive Officer, Chief Financial Officer, Secretary, and Director of Code Navy informed Code Navy that she intends to resign from her positions, effective immediately. Ms. Semenova's resignation is not the result of any disagreement with the company, its management or its board of directors. On March 24, 2016, Chun Pao Leng was appointed Chief Executive Officer, Chief Financial Officer, Secretary, and Director of the Company.

Mr. Leng was appointed by unanimous written consent of the board of directors.