On April 21, 2020, Thomas J. Meaney, resigned as Chief Financial Officer of Mikros Systems Corporation effective May 1, 2020. Concurrent with Mr. Meaney's resignation, the company appointed Mark J. Malone, currently a member of the Company's Board of Directors to serve as Chief Financial Officer and Chief Strategist effective May 1, 2020. Mr. Meaney will continue to serve as the company's Chief Executive Officer and member of the Board.

Mr. Malone currently has a consulting agreement with the Company to provide financial advisory, strategic planning and corporate governance consulting services to the Board of Directors. That consulting agreement will terminate on April 30, 2020.