Effective October 1, 2015, Joseph Proto resigned his position as Chairman of the Board of Directors of the SpendSmart Networks, Inc. Mr. Proto will remain a member of the Board of Directors and a member of the company's Compensation Committee. Effective October 1, 2015, Jerold Rubinstein, currently a member of the Board of Directors, has been appointed Chairman of the Board. Mr. Rubinstein has served as a member of the Board of Directors and the Chairman of the company's Audit Committee since October 1, 2013.