On October 18, 2013, Paragon Technologies, Inc. announced that it has entered in to a settlement agreement with SED International Holdings, Inc. Pursuant to the agreement, the Company's directors resigned, and on October 17, 2013, the following designees of Paragon were appointed to the newly constituted the Company's board: Dennis L. Chandler, Hesham M. Gad, Jack H. Jacobs, and Samuel S. Weiser.