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

Leadership Changes - Hapbee Technologies has appointed Krishna Subramanian as Chief Financial Officer, bringing over 30 years of experience in strategic and operational finance [2][4] - Riz Shah, Chairman of the Board, will serve as Interim Chief Executive Officer, while Yona Shtern steps down from the CEO role and will not seek re-election [3][4] - The leadership changes aim to enhance innovation, financial discipline, and customer experience as the company focuses on product and market expansion [4] New Appointments - Pat Murray has been appointed as Head of Devices Product Engineering, leveraging his experience in assembling product teams for major clients [7] - TJ Varghese has been appointed as Head of Devices Product Management, bringing over a decade of experience in hardware innovation from Google [7] Financial Update - Hapbee is proceeding with a shares-for-debt settlement of $112,500, issuing 1,250,000 shares at a deemed price of $0.09 per share to settle part of an aggregate debt of $235,954.48 [5][6] - The debt represents unpaid fees for marketing services, and the company aims to preserve cash for future operations [6] Strategic Focus - The leadership changes and new appointments are part of a strategy to fast-track product development and enhance market presence [4][7] - The company is positioned to deliver new product deployments and ensure sustainable growth through financial discipline and innovation [4]