On October 30, 2015, Arnold P. Kling resigned from his position as the sole director of the Board of Directors of Newtown Lane Marketing, Incorporated and from his position as President of the company. Also on October 30, 2015, Kirk M. Warshaw resigned from his positions as Chief Financial Officer and Secretary of the company. Prior to Mr. Kling's resignation, the company's Board of Directors appointed Jonathan J. Ledecky, the managing member of Ironbound Partners Fund, LLC, the company's stockholder, to fill the vacancy created by Mr. Kling's resignation and will assume the role of President of the company.

Jonathan J. Ledecky, 57 years old, has been a co-owner of the National Hockey League's New York Islanders franchise since October 2014. He also serves as an Alternate Governor on the Board of Governors of the NHL and as President of NYC Hockey Holdings LLC. Mr. Ledecky has served as chairman of Ironbound, a private investment management fund, since March 1999.

Mr. Ledecky has served as a member of the board of directors of Propel Media Inc. since January 2015.