Streamex Corp 8-K, filed Jun 10, 2024
Streamex Corp. (STEX)
About this 8-K
Streamex Corp filed this 8-K on June 10, 2024, reporting on events of June 5, 2024.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 8.01: Other events
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 5, 2024, Mr. Frederick D. Hrkac resigned as acting chief financial officer and principal accounting officer of BioSig Technologies, Inc. (“BioSig” or “Company”) effective as of the same date.
On June 5, 2024, the Company and Mr. Ferdinand Groenewald entered into a consulting agreement (the “Agreement”) effective June 5, 2024, pursuant to which Mr. Groenewald will lead accounting and financial reporting activities of the Company. Mr. Groenewald will serve as the Company’s interim chief financial officer, principal accounting officer and vice president of finance. The Agreement will continue indefinitely until terminated by either party upon 30 days’ advance notice. The Agreement provides for compensation at a fixed rate of $15,000 per month and reimbursement by the Company for any usual and customary business expenses incurred by Mr. Groenewald in connection with performing services pursuant to the Agreement. In addition, the Agreement provides for the Company to indemnify Mr. Groenewald on terms customary for officers.
Ferdinand Groenewald, age 39, currently serves as vice president of finance at Alaunos Therapeutics, Inc since February 2024. From January 2022 to July 2022, Mr. Groenewald served as the chief accounting officer of Muscle Maker, Inc., a Nasdaq-listed company. From September 2018 to January 2022, Mr. Groenewald served as the chief financial officer of Muscle Maker, Inc. From January 2018 through May 2018, Mr. Groenewald served as the vice president of finance, principal financial officer and principal accounting officer of Muscle Maker, Inc., Muscle Maker Development, LLC and Muscle Maker Corp., LLC. Mr. Groenewald has served as a director of: HeartCore Enterprises, Inc., a company listed on the Nasdaq Capital Market, since January 24, 2022; SYLA Technologies Co., Ltd., a publicly reporting company that is listed on the Nasdaq Capital Market, since December 1, 2022; and Sushi Ginza Onodera, Inc., a company that has publicly filed a registration statement on Form S-1 in connection with its initial public offering, from July 1, 2023 through May 7, 2024. Mr. Groenewald holds a Bachelor of Science in accounting from the University of South Africa.
Item 8.01 Other Events.
On June 10, 2024, the Company issued a press release announcing the appointment of Mr. Groenewald as interim chief financial officer and principal accounting officer. A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit Number | Description | |
| 99.1 | Press release dated June 10, 2024 | |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BIOSIG TECHNOLOGIES, INC. | ||
| Date: June 10, 2024 | By: | /s/ Anthony Amato |
| Name: | Anthony Amato | |
| Title: | Chief Executive Officer | |
Exhibit 99.1
BioSig Technologies Appoints Mr. Ferdinand Groenewald to Position of Interim Chief Financial Officer and Principal Accounting Officer
WESTPORT, CT, June 10, 2024 —BioSig Technologies, Inc. (NASDAQ: BSGM) or (“BioSig” or “the Company”), a medical technology company delivering unprecedented accuracy and precision to intra-cardiac signal visualization, today announced the appointment of Mr. Ferdinand Groenewald to the position of interim Chief Financial Officer.
Personal Bio, Ferdinand Groenewald, age 39
Ferdinand Groenewald is a certified public accountant with significant experience in finance and accounting. He currently serves as Vice President, Finance at Alaunos Therapeutics, Inc. Previously, Mr. Groenewald served as an Independent Outside Director at SYLA Technologies Co., Ltd.; an Independent Director at HeartCore Enterprises, Inc.; an Independent Director at Sushi Ginza Onodera, Inc.; an Accountant at Wrinkle, Gardner & Co. PC; a Senior Staff Accountant at Financial Consulting Strategies LLC; a Controller, VP-Finance & Accounting Officer at Sadot Group, Inc. and a Chief Financial Officer at the same company; and Chief Accounting Officer & VP-Finance at Muscle Maker Development LLC. Mr. Groenewald obtained an undergraduate degree from the University of South Africa.
BioSig’s CEO, Anthony Amato stated, “I am excited to announce the addition of Ferdinand Groenewald to the evolving team at BioSig. Mr. Groenewald’s unique financial expertise will be a key asset to help drive our strategic decisions going forward. Mr. Groenewald provides a deep understanding of specific financial principles that will align with our newly planned broader business strategy. This will play a pivotal role in shaping growth opportunities to increase shareholder value.”
About BioSig Technologies, Inc. (NASDAQ: BSGM)
BioSig Technologies is a medical technology company focused on deciphering the body’s electrical signals, starting with heart rhythms. By leveraging a first of its kind combination of hardware and software, we deliver unprecedented cardiac signal clarity, ending the reliance on ‘mixed signals’ and ‘reading between the lines.’ Our platform technology is addressing some of healthcare’s biggest challenges—saving time, saving costs, and saving lives.
The Company’s product, the PURE EP™ Platform, an FDA 510(k) cleared non-invasive class II device, provides superior, real-time signal visualization allowing physicians to perform highly targeted cardiac ablation procedures with increased procedural efficiency and efficacy.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which are beyond the Company’s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) BioSig’s ability to regain compliance with and meet the continued listing requirements of the Nasdaq Capital Market to maintain listing of its common stock; (ii) our cost reduction plan and associated workforce reduction or other cost-saving measures not reaching the targeted reduction of cash burn by 50%; (iii) the geographic, social, and economic impact of pandemics or worldwide health issues on BioSig’s ability to conduct its business and raise capital in the future when needed; (iv) BioSig’s inability to manufacture its products and product candidates on a commercial scale on its own, or in collaboration with third parties; (v) difficulties in obtaining financing on commercially reasonable terms; (vi) changes in the size and nature of BioSig’s competition; (vii) loss of one or more key executives or scientists; and (viii) difficulties in securing regulatory approval to market BioSig’s products and product candidates. For a discussion of other risks and uncertainties, and other important factors, any of which could cause BioSig’s actual results to differ from those contained in forward-looking statements, see BioSig’s filings with the Securities and Exchange Commission (“SEC”), including the section titled “Risk Factors” in BioSig’s Annual Report on Form 10-K, filed with the SEC on April 16, 2024. Investors and security holders are urged to read these documents free of charge on the SEC’s website at http://www.sec.gov. The Company assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise, except as required by law.
Contact:
Todd Adler
BioSig Technologies, Inc.
Investor Relations
55 Greens Farms Rd
Westport, CT 06880
tadler@biosigtech.com
203-409-5444 ext. 104
or
Anthony Amato, Chief Executive Officer
aamato@biosigtech.com
203-409-5444 ext. 102