MassRoots Inc (OTCMKTS:MSRT) has announced that some directors have left the firm and that it has appointed new officers to replace those who have departed. Among those who resigned was Steve Osborn. He was the company’s chief technology officer until his resignation.
Jesus Quintero has been appointed MassRoot’s chief financial officer and he will serve as a replacement to Isaac Dietrich, who served as the interim CFO. Quintero is expected to serve in the CFO position for a period of 12 months. His term shall be renewed automatically in the successive years unless Quintero gives a notice in writing indicating unwillingness to renew. This will have to be 90 days before the expiry of the first term.
Either party will also be able to terminate the agreement after giving a written notice. On a monthly basis Quintero will be paid a monthly fee of $4,000. He will also get 250,000 common stock shares of the company and these will vest beginning January 10, 2018.
Prior to joining MassRoots Quintero was a financial consultant who worked for various international and domestic firms. This included GAM Distribution Corporation, ATR Wireless Inc and Premier Radiology Services among others. Quintero has also worked as Brazil Interactive Media’s chief financial officer as well as held senior positions in finance at various firms such as Spain’s Telefonica, Globetel Communications Corp, Latin Node and Avnet. Other firms Quintero has worked at includes advisory firms Deloitte and PriceWaterhouseCoopers. Quintero is registered as a CPA in New York.
Loss of office
The departure and eventual hiring of key personnel at MassRoots coincides with MassRoots its corporate headquarters office. This is after a court ruling where a U.S. District Court judge ordered the premises to be given back to the landlord. Prior to the rulng MassRoots had been served with a notice warning of an eviction in the event that rent arrears were not paid.
According to a property manager and attorney representing the landlord, MassRoots had failed to pay rent for months. Per the notice that MassRoots was served with the amount the company owed the landlord was $39,742 and this rent for the months of September, October, and November last year.