Effective January 13, 2020, Mr. John Collins resigned from his position as a director of the CTI Industries Corporation. Mr. Collins’ resignation was not the result of any disagreement with the Company relating to the Company’s operations, policies, or practices. Effective January 13, 2020, the Board of Directors of the Company appointed Mr. Yubao Li as a director of the Company. Mr. Li has been serving as the Chairman of Yunhong International since its inception in January 2019 and served as its Chief Executive Officer from January 2019 to September 2019. Mr. Li has been serving as the president of Hubei Academy of Science and Technology since July 2018, one of the key multi-disciplinary universities in the province of Hubei.