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Byrn, Inc. 8-K Report, Executive Changes (Mar 5, 2013)

Reports
Leadership Changes·Exhibits & Filings
Filing Date
Filed March 5, 2013
Period End
March 5, 2013
Security
BRRN
In the record · 2020–202610-K910-Q108-K6

BRRN filed 9 annual reports (10-K), 10 quarterly reports (10-Q) and 6 current reports (8-K) between 2020 and 2026.

  1. Change in control8-K · Feb ’21Feb ’21
  2. FY2024 annual report10-K · Apr ’25Apr ’25

01—Abstract

Summary

Summary of the 8-K filed March 5, 2013. Cited figures are marked; the original filing is the authoritative source.

Quture International, Inc. (BRRN) has filed an 8-K report detailing the resignation of Barry Hollander as Chief Financial Officer (CFO) and Director.

Mr. Hollander's resignation as CFO and from the subsidiary ZenZuu USA, Inc. was effective February 28, 2013, and his departure as Director will be effective March 29, 2013. This event signifies a leadership transition within the company, prompting the search for a new CFO. Notably, the company and Mr. Hollander are negotiating a Separation and Settlement Agreement.

Key terms include a $35,000a note payable for accrued and unpaid fees, to be settled in two installments of $5,000 each by March 15 and March 31, 2013. Failure to meet these payment deadlines would render the entire note immediately due.

Mr. Hollander will retain his substantial beneficial ownership of 27,908,007 shares of common stock. The resignation was not due to any material disagreements with the company's operations, policies, or practices.

02—Key points

Key Highlights

  1. Barry Hollander resigned as CFO of Quture International, Inc. and its subsidiary ZenZuu USA, Inc. effective February 28, 2013.
  2. Mr. Hollander will also resign as a Director of the Company effective March 29, 2013.
  3. The company is actively seeking a replacement CFO.
  4. A Separation and Settlement Agreement is being negotiated with Mr. Hollander.
  5. The agreement includes a $35,000 note payable to Mr. Hollander for accrued fees.
  6. Mr. Hollander will retain his 27,908,007 shares of common stock.
  7. The resignation was not a result of any disagreement with the company's operations, policies, or practices.

03—Questions

Frequently Asked Questions

  1. Why did the CFO, Barry Hollander, resign?

    Barry Hollander resigned as CFO for reasons not related to any disagreement with the company's operations, policies, or practices. The company and Mr. Hollander are exploring opportunities to utilize his skills within Quture's operations subsidiary.

  2. What financial terms are involved in Mr. Hollander's departure?

    Mr. Hollander is to receive a $35,000 note payable for accrued and unpaid fees. This note is to be settled by two equal cash payments of $5,000, due on or before March 15, 2013, and March 31, 2013. If these payments are not made on time, the full note amount becomes immediately due.

  3. Will Mr. Hollander still hold shares in Quture International?

    Yes, as part of the separation agreement, Mr. Hollander will retain his beneficial ownership of 27,908,007 shares of common stock.

  4. What is the company doing to replace the CFO?

    The company is actively seeking a new Chief Financial Officer and is reportedly in negotiations with potential candidates.

04—Continue

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