Item 5.02Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Kevin Asher tendered his resignation as Chief Financial Officer of the
registrant effective as of January 1, 2021. Mr. Asher's resignation indicated no
outstanding issues with the Corporation or disagreements with any matters of
corporate and/or accounting practices or disclosures.
On February 8, 2021, the board of directors elected Lanny R. Lang, 62, to the
position of Chief Financial Officer of the registrant pursuant to a management
contract with Lang Financial Services, Inc. ("LFSI"). Mr. Lang has over 30 years
of CFO-related restructuring, financial consulting, reverse merger, capital
structuring, financial process and SEC financial reporting experience. Mr. Lang
has been the principal of LFSI since 1993, a private management and accounting
consulting firm. Since February 2019, Mr. Lang is the named CFO and Secretary of
House of Jane Inc., a public company (OTC: HOJI). From July 2016 to June 2018,
Mr. Lang was the named CFO of ORhub, Inc., a public company (OTC: ORHB). From
1995 to July 2017, Mr. Lang was the CFO, Secretary and a director of Aztoré
Capital Corp. and prior to that, of Aztoré Holdings, Inc. Mr. Lang started his
career with Price Waterhouse (now PWC) in Minneapolis, Minnesota and obtained a
BA Degree in Accounting from the University of Northern Iowa.
Under the terms of the management contract with LFSI, Mr. Lang's compensation is
$3,000 per month. In addition, LFSI was issued 30,000 shares of restricted
common stock of the registrant, valued at $.51 per share, the closing price of
the registrant's common stock on the OTC Pink market. There are no arrangements
or understanding between any of the officers and any other person pursuant to
which any officer was elected to the position described above. There are no
family relationships between any of the officers and any of the registrant's
directors or executive officers, and the registrant has not entered into any
transactions with any of the officers requiring disclosure under Item 404(a) of
Regulation S-K,
A press release announcing the foregoing is attached to this report as Exhibit
99.1.
Item 9.01.Financial Statements and Exhibits.
The following exhibit is furnished as part of this Current Report on Form 8-K.
Exhibit No.Description of Document
99.1Press Release issued by Farmhouse, Inc.
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