On December 31, 2018, Andrew DeFrancesco resigned as a member of Cool Holdings, Inc. board. The resignation was due to other obligations of Mr. DeFrancesco, and not the result of a disagreement regarding the Company’s operations, policies or procedures. It is expected that Mr. DeFrancesco will remain actively involved with the Company in his role as a shareholder. In connection with the resignation of Mr. DeFrancesco, the Board has appointed Mauricio Diaz, a current director and Chief Executive Officer of the Company, as the Chairman of the Board.