Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 29, 2020, Coro Global Inc. (the "Company") entered into amendment
No. 2 to the Company's employment agreement with J. Mark Goode. Pursuant to the
amendment, Mr. Goode's employment with the Company will continue until January
31, 2021, and Mr. Goode agreed to resign as President, Chairman, and Chief
Executive Officer of the Company effective December 31, 2020. From the period
January 1, 2021 to January 31, 2021 Mr. Goode will be entitled to his base
salary and any other regular compensation under the employment agreement and
will assist the Company in the Company's transition to a new Chief Executive
Officer. Mr. Goode agreed that he would return 250,000 shares of the Company's
common stock if he were not serving as Chief Executive Officer of the Company as
of December 30, 2020, and agreed to return 62,500 shares of common stock to the
Company upon expiration of the employment agreement on January 31, 2021.
On December 31, 2020, Mr. Goode submitted his resignation as Director, President
and Chief Executive Officer of the Company, and Niquana Noel submitted her
resignation as Director and Chief Operating Officer of the Company. Mr. Goode's
and Ms. Noel's resignations will be effective at 11:59 p.m. on December 31,
2020.
On December 31, 2020, David Dorr was appointed Director, President, and Chief
Executive Officer of the Company, and Brian Dorr was appointed Director and
Chief Operating Officer of the Company. The appointments go into effect January
1, 2021. David and Brian Dorr are brothers.
On December 31, 2020, Lou Naser was appointed Chairman of the Board of Directors
of the Company. The appointment will go into effect January 1, 2021. Mr. Naser
has been a Director of the Company since June 2020.
David Dorr, 43, is the Co-founder of Coro Global Inc. under the Company's
current business. Since 2010, Mr. Dorr has served as Managing Principal of Dorr
Asset Management LLC and as Managing Principal and Director of Dorr Asset
Management SEZC since 2012. The Dorr Asset Management companies provide
investing and advisory services based on global macroeconomic analysis. Mr.
Dorr's experience includes trading in complex derivatives, equities,
commodities, FX, and fixed income markets. His focus in physical commodities has
been centered in the precious metals sector. He has also served as a strategic
advisor to various sovereign governments as it relates to gold, financial
systems, and economic policies. Mr. Dorr is currently licensed as a Director in
Cayman Islands by the Cayman Islands Monetary Authority and has previously
served as Director of Registered Cayman Islands Mutual Funds. Prior to the Dorr
Asset Management companies, Mr. Dorr was Co-founder & CEO of Life-Exchange,
Inc., an electronic trading platform for financial institutions trading
longevity risk in the life insurance sector. Life-Exchange, Inc. was a U.S.
publicly traded company and Mr. Dorr served as Director and CEO. Mr. Dorr has an
extensive background in finance and risk management, having worked in capital
markets for nearly two decades, which qualifies him to serve on the Company's
board of directors.
Brian Dorr, 38, is the Co-founder of Coro Global Inc. under the Company's
current business. Since 2010 Mr. Dorr has served as Managing Principal of Dorr
Asset Management LLC and as Managing Principal, Director and Anti-Money
Laundering Compliance Officer of Dorr Asset Management SEZC since 2012. The Dorr
Asset Management companies provide investing and advisory services based on
global macroeconomic analysis. Mr. Dorr's experience includes trading in complex
derivatives, equities, commodities, FX, and fixed income markets. His focus in
physical commodities has been centered in the precious metals sector. He has
also served as a strategic advisor to various sovereign governments as it
relates to gold, financial systems, and economic policies. Mr. Dorr is currently
licensed as a Director in Cayman Islands by the Cayman Islands Monetary
Authority and has previously served as Director of a Registered Cayman Islands
Mutual Fund. Prior to the Dorr Asset Management companies, Mr. Dorr was
Co-founder & COO of Life-Exchange, Inc., an electronic trading platform for
financial institutions trading longevity risk in the life insurance sector.
Life-Exchange, Inc. was a U.S. publicly traded company and Mr. Dorr served as
Director and COO. Mr. Dorr has an extensive background in finance and risk
management, having worked in capital markets for nearly two decades, which
qualifies him to serve on the Company's board of directors.
During the nine months ended September 30, 2020, the Company paid Dorr Asset
Management LLC consulting fees and expenses of $218,367. During the year ended
December 31, 2019, the Company paid Dorr Asset Management LLC consulting fees
and expenses of $107,306. Dorr Asset Management LLC concluded its consulting
services to the Company November 30, 2020.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
10.1 Amendment No. 2 to Employment Agreement between Coro Global Inc.
and J. Mark Goode
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