Hapbee Strengthens Leadership Team with Key Appointments; Provides Update on Shares-for-Debt Settlement

Core Insights - Hapbee Technologies Inc. is undergoing significant leadership changes to enhance its product strategy and accelerate market expansion [1][3][4] Leadership Changes - Krishna Subramanian has been appointed as Chief Financial Officer, bringing over 30 years of experience in strategic and operational finance [2][4] - Riz Shah, the Chairman of the Board, will take on the role of Interim Chief Executive Officer, ensuring continuity during this transition [3][4] - Yona Shtern will step down as CEO and will not seek re-election as a director at the upcoming Annual General & Special Meeting [3] Product Development Focus - The company has appointed two new senior leaders to strengthen its innovation and product execution capabilities [4][6] - Pat Murray, Head of Devices Product Engineering, has a background in leading marketing teams for major brands, which will aid in product development [6] - TJ Varghese, Head of Devices Product Management, has extensive experience in hardware innovation, particularly from his time at Google [6] Financial Updates - Hapbee is proceeding with a shares-for-debt settlement to address an aggregate debt of $235,954.48, settling $112,500 through the issuance of 1,250,000 shares at a deemed price of $0.09 per share [5][7] - The debt represents unpaid fees for services related to marketing approved products, and the company aims to preserve cash for future operations [6][7]