On March 17, 2023, FlexShopper, Inc. was saddened to announce that Richard House, Jr., the Company's Chief Executive Officer, had passed away on March 16, 2023. H. Russell Heiser, Jr., who is currently the Chief Financial Officer of the Company, has been appointed by the Company's Board of Directors to become the Chief Executive Officer of the Company effective March 20, 2023. In such capacity, Mr. Heiser has been designated as the principal executive officer, in addition to temporarily also being the principal financial and accounting officer of the Company.

Mr. Heiser has served as the Chief Financial Officer of the Company since December 2015 and served as a consultant to the Company from July 2015 to December 2015. As Chief Financial Officer, Mr. Heiser has demonstrated extensive knowledge of the Company's financial, accounting and operational issues and has led its mergers and acquisitions, bank financings and capital market activities. He previously served as an advisor to family offices in South Florida from 2008 to 2015.

Mr. Heiser was an Executive Director in the Investment Banking Division of UBS in New York from 2004 to 2008 and was an Associate in the Investment Banking Division of Bear, Stearns & Co. in New York from 2001 to 2004. Mr. Heiser received his B.S. degree in Accounting from the University of Richmond and an M.B.A. from Columbia Business School.

Over the course of his career, Mr. Heiser has earned both CPA and CFA designations.