UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
14f-1
INFORMATION
STATEMENT PURSUANT TO SECTION 14(f) OF
THE
SECURITIES EXCHANGE ACT OF 1934 AND
RULE
14f-1 THEREUNDER
CISO
Global, Inc.
(Exact
Name of Registrant as Specified in Charter)
Delaware |
|
001-41227 |
|
83-4210278 |
(State
or other jurisdiction |
|
(Commission
|
|
(IRS
Employer |
of
incorporation) |
|
File
Number) |
|
Identification
No.) |
6900
E. Camelback Road, Suite 900
Scottsdale,
Arizona 85251
(Address
of principal executive offices) (Zip Code)
(480)
389-3444
(Registrant’s
telephone number, including area code)
Approximate
Date of Mailing: December 16, 2024
CISO
GLOBAL, INC.
INFORMATION
STATEMENT PURSUANT TO SECTION 14(f)
OF
THE SECURITIES EXCHANGE ACT OF 1934 AND RULE 14f-1 THEREUNDER
NOTICE
OF CHANGE IN THE MAJORITY OF THE BOARD OF DIRECTORS
December
16, 2024
THIS
INFORMATION STATEMENT IS BEING PROVIDED SOLELY FOR INFORMATIONAL PURPOSES AND NOT IN CONNECTION WITH ANY VOTE OF THE SHAREHOLDERS OF
CISO GLOBAL, INC.
WE
ARE NOT ASKING YOU FOR A PROXY AND YOU ARE NOT REQUIRED TO TAKE ANY ACTION.
Schedule
14f-1
You
are urged to read this Information Statement carefully and in its entirety. However, you are not required to take any action in connection
with this Information Statement. References throughout this Information Statement to “Company,” “we,” “us,”
and “our” refer to CISO Global, Inc.
INTRODUCTION
This
Information Statement is being mailed on or about December 16, 2024, to the holders of record at the close of business on December 16,
2024 (the “Record Date”) of our common stock, par value $0.00001 (the “Common Stock”). We are required to provide
you with this Information Statement by Section 14(f) of the Securities Exchange Act of 1934 (the “Exchange Act”), and Exchange
Act Rule 14f-1, in connection with an anticipated change in majority control of Company’s board of directors (the “Board”)
other than at a meeting of shareholders. Exchange Act Section 14(f) and Rule 14f-1 require that we mail the information included in this
Information Statement to our shareholders of record at least ten days before the date the proposed change in a majority of our directors
occurs. Accordingly, the change in a majority of our directors pursuant to the transaction described below will not occur until at least
ten days after we mail this Information Statement.
As
to be disclosed by the Company on Form 8-K to be filed with the U.S. Securities Exchange Commission (the “SEC”) on December
16, 2024, the Company entered into a Securities Purchase Agreement (the “Agreement”) with several purchasers (the “Purchasers”).
Pursuant to the Agreement, the Purchasers have agreed to purchase an aggregate of up to $8,125,000 of securities from the Company, including
certain convertible notes and certain common stock purchase warrants. Also agreed upon is the resignation of current members of the Board
and the addition of new members to the Board. Those changes are detailed herein.
The
change in the majority of the Board is contingent upon the regulatory filing and mailing of this Information Statement. The entry into
the Agreement did not effectuate a change in control of the Company.
THIS
INFORMATION STATEMENT IS REQUIRED BY SECTION 14(F) OF THE SECURITIES EXCHANGE ACT AND RULE 14F-1 PROMULGATED THEREUNDER IN CONNECTION
WITH THE APPOINTMENT OF THREE DIRECTOR DESIGNEES TO THE BOARD. NO ACTION IS REQUIRED BY OUR SHAREHOLDERS IN CONNECTION WITH THE RESIGNATION
AND APPOINTMENT OF ANY DIRECTOR.
CHANGE
IN MAJORITY OF BOARD OF DIRECTORS
Effective
as of the closing of the transaction contemplated by the Agreement and the expiration of all applicable waiting periods under Section
14(f) of the Exchange Act, each of Debra L. Smith, Ret. General Robert C. Oaks, Reid S. Holbrook, Brett Chugg, and Ernest M. (Kiki) VanDeWeghe,
III will resign as a director of the Company subject to the requirements of Section 14(f) of the Exchange Act. Further, David G. Jemmett
will be appointed as Chairman of the Board of the Company.
In
connection with the Agreement, three individuals, Phillip Balatsos, Mohsen (Michael) Khorassani, and Andrew Hancox, will replace Debra
L. Smith, Ret. General Robert C. Oaks, Reid S. Holbrook, Brett Chugg, and Ernest M. (Kiki) VanDeWeghe, III, as directors of the Company.
This change in the Board is expected to occur upon the expiration of all applicable waiting periods under Section 14(f) of the Exchange
Act and Rule 14f-1 thereunder and the full payment of the purchase price.
None
of these appointees, to our knowledge, has been the subject of any bankruptcy petition filed by or against any business of which an appointee
was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time, been convicted
in a criminal proceeding or been subject to a pending criminal proceeding (excluding traffic violations and other minor offenses) five
years prior to that time, been subject to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court
of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type
of business, securities or banking activities or been found by a court of competent jurisdiction (in a civil action), the SEC or the
Commodity Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been
reversed, suspended or vacated.
No
action is required by our shareholders in connection with this Information Statement. However, Section 14(f) of the Exchange Act and
Rule 14f-1 promulgated thereunder, require the mailing to our shareholders of the information set forth in this Information Statement
at least ten (10) days prior to the date a change in a majority of our directors occurs (otherwise than at a meeting of our shareholders).
VOTING
SECURITIES
Our
authorized capital stock consists of 300,000,000 shares of Common Stock, with $0.00001 par value, and 50,000,000 shares of preferred
stock, par value of $0.00001 per share. As of the Record Date, there were 11,821,866 shares of Common Stock issued and outstanding. Holders
of our Common Stock are entitled to one vote for each share on all matters voted on by our shareholders. As of the Record Date, there
are no shares of our preferred stock designated as issued and outstanding.
There
is no cumulative voting in the election of directors, and our directors are elected by a majority of the votes cast. Holders of our stock
representing one-third of the voting power of our capital stock issued and outstanding and entitled to vote, represented in person or
by proxy, are necessary to constitute a quorum at any meeting of our shareholders. A vote by the holders of a majority of the voting
power of our capital stock issued and outstanding and entitled to vote is required to effectuate certain fundamental corporate changes.
SECURITY
OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
The
following table sets forth, as of the Record Date, the number of shares of Common Stock owned of record and beneficially by executive
officers, directors and persons who hold 5.0% or more of the outstanding Common Stock of the Company. Also included are the shares held
by all executive officers and directors as a group. Unless otherwise indicated, the address of each beneficial owner listed below is:
c/o CISO Global, Inc., 6900 E. Camelback Road, Suite 900, Scottsdale, AZ 85251. Each principal shareholder has sole investment power
and sole voting power over the shares.
Name
and Address of Beneficial Owner: | |
Amount
of Beneficial Ownership | | |
Percentage
of Beneficial Ownership | |
Jemmett
Enterprises, LLC | |
| 4,429,000 | | |
| 37.46 | % |
Stephen
H. Scott, Jr. | |
| 1,203,335 | | |
| 10.18 | % |
| |
| | | |
| | |
David
G. Jemmett | |
| 4,629,001 | | |
| 39.16 | % |
Debra
L. Smith | |
| 64,964 | | |
| * | |
Kyle
J. Young | |
| 64,964 | | |
| * | |
Ret.
General Robert C. Oaks | |
| 26,666 | | |
| * | |
Reid
S. Holbrook | |
| 26,666 | | |
| * | |
Andrew
K. McCain | |
| 571,884 | | |
| 4.70 | % |
Ernst
M. (KiKi) VanDeWeghe, III | |
| 13,333 | | |
| * | |
Brett
Chugg | |
| —— | | |
| —— | |
| |
| | | |
| | |
Directors
& Executive Officers as a Group (8 persons) | |
| 5,397,478 | | |
| 43.65 | % |
*
Less than 1% of the outstanding shares of common stock.
DIRECTORS
AND EXECUTIVE OFFICERS
The
Board has appointed Phillip Balatsos, Mohsen (Michael) Khorassani, and Andrew Hancox as new members of the Board to take effect upon
the later of (i) the expiration of all applicable waiting periods under Section 14(f) of the Exchange Act and Rule 14f-1 thereunder,
and (ii) the payment of the full purchase price in the amount of Eight Million One Hundred Twenty-Five Thousand USD ($8,125,000).
Under
the terms of the Agreement, upon the Company meeting its information obligations under the Exchange Act, including the filing and mailing
of this Information Statement, the Board will consist of five directors, until their successors shall have been duly elected or appointed
and qualified or until their earlier death, resignation or removal in accordance with the Company’s Amended and Restated Certificate
of Incorporation, as the case may be.
Our
directors, executive officers and key employees, and their ages as of the date of this Information Statement, are listed below.
Name |
|
Age |
|
Position(s)
with the Company
|
David
G. Jemmett |
|
57 |
|
Chief
Executive Officer and Director |
Debra
L. Smith |
|
54 |
|
Chief
Financial Officer and Outgoing Director |
Kyle
J. Young |
|
41 |
|
Interim
Chief Operating Officer |
Ret.
General Robert C. Oaks |
|
88 |
|
Outgoing
Director |
Reid
S. Holbrook |
|
77 |
|
Outgoing
Director |
Andrew
K. McCain |
|
62 |
|
Director |
Ernst
M. (KiKi) VanDeWeghe, III |
|
66 |
|
Outgoing
Director |
Brett
Chugg |
|
56 |
|
Outgoing
Director |
Phillip
Balatsos |
|
47 |
|
Incoming
Director |
Mohsen
(Michael) Khorassani |
|
58 |
|
Incoming
Director |
Andrew
Hancox |
|
53 |
|
Incoming
Director |
The
experience of our current directors and executive officers is as follows:
David
G. Jemmett has served as our Chief Executive Officer and a director of the Company since our formation in March 2019. He also
founded GenResults in June 2015, which we subsequently acquired in April 2019. From January 2014 to December 2014, Mr. Jemmett served
as Chief Executive Officer of NantCloud, LLC, a provider of secure cloud-hosted applications for healthcare customers, and Chief Technology
Officer of NantWorks, LLC, a parent company for the “Nant” family of companies. From 2005 to 2013, Mr. Jemmett served as
founder and Chief Executive Officer of ClearDATA Networks Corporation, a HIPAA compliant hosting company specializing in healthcare.
He has been a guest speaker on CBS, CNN, MSNBC and CSPAN, and has spoken before the U.S. Senate Subcommittee on Telecommunications and
Internet Security regarding internet technologies in 1998.
Debra
L. Smith has served as our Chief Financial Officer since June 2021. Ms. Smith served as our Executive Vice President of Finance
and Accounting from February 2021 to June 2021. Prior to joining the Company, Ms. Smith served as Executive Vice President of Finance
at Arrivia Inc. from January 2020 to February 2021 and Controller and subsequently, Chief Accounting Officer and Chief Financial Officer
at BeyondTrust from October 2016 to January 2020. Ms. Smith received a Bachelor of Science degree in Accounting, Summa Cum Laude, from
DeVry University and a Master’s degree in Counseling with Honors from Argosy University.
Kyle
J. Young has served as our Interim Chief Operating Officer since March 2023. Previously Mr. Young served as our Executive Vice
President, Operations from January 2022 to March 2023 and as our Vice President, Operations from February 2021 to January 2022. Mr. Young
served in various roles at BeyondTrust Software, a U.S.-based cybersecurity vendor, from December 2007 to February 2022, most recently
serving as its Vice President, Business and Sales Operations. Mr. Young holds a bachelor’s degree in Speech Communications &
Rhetoric from the University of Illinois Urbana-Champaign.
Ret.
General Robert C. Oaks has served as a director of the Company since May 2019. He is a retired U.S. Air Force general who served
as Commander in Chief of the U.S. Air Forces in Europe, and Commander, Allied Air Forces Central Europe, with headquarters at Ramstein
Air Base, Germany. He retired as a four-star General and Commander and Chief of U.S. Air Forces Europe and NATO Central Europe in 1994
after serving 34 years. Following his retirement, Ret. General Oaks was employed at U.S. Airways as Senior Vice President from 1994 to
2000. In 2000, Oaks resigned from this position when he was called to serve the LDS Church, where he served until 2009, when he was released
as a general authority. He earned a Bachelor of Science degree in Military Science from the U.S. Air Force Academy and a Master’s
degree in Business Administration from Ohio State University prior to graduating from the Naval War College. Ret. General Oaks currently
serves as the official Liaison for the Church of Jesus Christ to the U.S. Armed Forces.
Reid
S. Holbrook has served as a director of the Company since May 2019. Since 2013, Mr. Holbrook has been a Principal at Mountain
Summit Advisors, a specialty firm focused on mergers and acquisitions of primarily healthcare technology and services companies, and
a strategic advisor to Health Catalyst, a company focused on data analytics and warehousing primarily in healthcare. He served as the
Executive Vice President of Medicity, a population health management company with solutions for health information exchange, business
intelligence, and provider and patient engagement, from 2002 to 2013. In 1998, Mr. Holbrook founded KLAS where he remains as a board
member. He has served in executive positions at IHC, GTE, Sunquest Information Systems, Integrated Medical Networks and is a founder
of Park City Solutions. Mr. Holbrook is a HIMSS Fellow. He holds a Master of Science from Utah State University and a Bachelor of Science
from Brigham Young University.
Andrew
K. McCain has served as a director of the Company since May 2019. He has served as the President and Chief Executive Officer
for Hensley Beverage Company since January 2024, and previously served as President and Chief Operating Officer from 2014 through January
2024. He is a board member of the Arizona Super Bowl Host Committee, the Arizona 2016 College Football Championship Local Organizing
Committee, Chairman of Hensley Employee Foundation, and a Patrons Committee member of United Methodist Outreach Ministries’ New
Day Centers. He is past Chairman of the Board of the Fiesta Bowl, past Chairman of the Anheuser-Busch National Wholesaler Advisory Panel,
and past Chairman of the Greater Phoenix Chamber of Commerce. Mr. McCain received his Bachelor of Arts in Mathematics in 1984 and an
MBA in 1986 from Vanderbilt University.
Ernst
M. (Kiki) VanDeWeghe, III has served as a director of the Company since May 2021. He has served as the Executive Vice President,
Basketball Operations of the National Basketball Association since 2013. Prior to that, Mr. VanDeWeghe was the general manager of the
Denver Nuggets and the New Jersey Nets and a head coach of the New Jersey Nets. Prior to that he played professionally for the Los Angeles
Clippers, New York Knicks, Portland Trail Blazers, and the Denver Nuggets. Mr. VanDeWeghe attended UCLA where he received a degree in
Economics.
Brett
Chugg has served as a director of the Company since February 2024. He has most recently served as Senior Managing Director at
Koch Disruptive Technologies, a venture and growth equity investment group at Koch Industries and in other roles with Koch Industries
since 1998. Mr. Chugg has also served as a Director on several high-growth company boards. Mr. Chugg attended Weber State University
where he received a degree in English and received his MBA in 1998 from Bringham Young University.
The
experience of our 14F Directors is as follows:
Phillip
Balatsos is a seasoned Senior FX sales and trading executive with over two decades of experience in the financial sector. As
Vice President at XP Investments US LLC, he has significantly expanded the firm’s presence in North America and Europe, achieving
a 300% increase in FX revenue. Previously, Phillip was Director at Barclays Capital, where he managed high-value institutional relationships
and led joint ventures that boosted annual revenues by millions. He began his career at Credit Suisse, rapidly advancing to Vice President
supporting hedge fund sales. His entrepreneurial ventures include owning Thomas-Mackey Veterinarian Service, SeaPath Advisory LLC, and
TwoMacks Properties LLC, which demonstrate his diverse expertise. He also served on the Board of Directors for Sadot Group Inc., contributing
to the company’s strategic growth. Phillip holds a Bachelor of Science in Business Administration from Skidmore College and has
received leadership recognition in various roles.
Mohsen
(Michael) Khorassani, serves as founder and CEO of Orion 4, a corporate advisory firm, since March of 2019 where he has served
as capital markets, business development and marketing advisor for many public and private companies. Before founding Orion, he spent
nineteen years at Oppenheimer Private Client Division as Director of Investments focused on building and developing a successful wealth
management practice. He was responsible for advising both high net-worth and institutional clients. Prior to joining Oppenheimer, he
served as a Vice President at Oscar Gruss & Son, an institutional NYSE member firm where he was responsible for helping build the
firm’s retail division. His responsibilities included recruiting advisors, managing teams, and sales and trading. Prior to Oscar
Gruss and Son, he spent four years at Gruntal and Co. as V.P of Investments. He started his financial services career at Lehman Brothers
two years earlier. Mr. Khorassani has demonstrated extensive understanding of the capital markets over his thirty years of Wall Street
experience and brings with him a wealth of knowledge and deep bench of personal relationships.
Andrew
Hancox is a seasoned operating executive and investor with a strong entrepreneurial background, specializing in strategy, operations,
and finance. As the Founder and Managing Member of Block 8 Ventures, he has successfully invested in over 25 blockchain projects and
provided strategic consulting to high-growth companies. Previously, he co-founded Katapult (NASDAQ: KPLTW) and served as COO, raising
over $250M in capital and expanding the team to 100+ members. Andrew’s experience includes a role as an analyst at Permian Investment
Partners, where he evaluated and recommended equity investments, and as the Co-Founder and CEO of Anderson Audio Visual, growing the
company to $40M in sales. His educational background includes studies in Law and Mathematics from Victoria University (New Zealand) and
a Private Equity and Investment Banking Program from the Institute of Banking and Finance (New York). Andrew is also a lead mentor at
Entrepreneurs Roundtable Accelerator and Parallel 18, an accomplished skier, marathon runner, and avid traveler, having visited 107 countries.
Originally from New Zealand, he currently splits his time between New York, NY and San Juan, PR.
Family
Relationships
No
family relationships exist between any of our current directors or executive officers.
Involvement
in Certain Legal Proceedings
There
are no material proceedings to which any director or executive officer or any associate of any such director or officer is a party adverse
to the Company or has a material interest adverse to the Company.
Director
Independence
The
Board is comprised of a majority of independent directors, as “independence,” is defined by the listing standards of The
Nasdaq Stock Market and by the SEC. The Board has concluded that each of Andrew K. McCain, Phillip Balatsos, Mohsen (Michael) Khorassani,
and Andrew Hancox are “independent”, having concluded that any relationship between such director and the Company, in its
opinion, does not interfere with the exercise of independent judgment in carrying out the responsibilities of a director. Mr. Jemmett
is an employee director.
Section
16(a) Beneficial Ownership Reporting Compliance
Section
16(a) of the Exchange Act requires our officers, directors and persons who beneficially own more than ten percent of our ordinary shares
to file reports of ownership and changes in ownership with the SEC. These reporting persons are also required to furnish us with copies
of all Section 16(a) forms they file. During the year ended December 31, 2023, there were no delinquent filers.
EXECUTIVE
COMPENSATION
Executive
Officer and Director Compensation
The
following table sets forth compensation for our Chief Executive Officer and our next two most highly compensated executive officers who
were serving as executive officers or interim executive officers, for the two completed fiscal years ended December 31, 2023, and December
31, 2022:
Name
and Principal Position | |
Year | |
Salary ($) | | |
Bonus ($) | | |
Option
Awards ($)
(1) | | |
All
Other Compensation ($)
(2) | | |
Total ($) | |
David
G. Jemmett | |
2023 | |
| 315,105 | | |
| 62,500 | | |
| — | | |
| 14,118 | | |
| 391,723 | |
Chief
Executive Officer | |
2022 | |
| 250,000 | | |
| 116,651 | | |
| — | | |
| 225 | | |
| 366,876 | |
Debra
L. Smith | |
2023 | |
| 280,642 | | |
| 53,125 | | |
| — | | |
| 7,576 | | |
| 341,343 | |
Chief
Financial Officer | |
2022 | |
| 200,000 | | |
| 60,500 | | |
| 892,200 | | |
| 225 | | |
| 1,152,925 | |
Kyle
J. Young (3) | |
2023 | |
| 274,392 | | |
| 48,000 | | |
| — | | |
| 12,168 | | |
| 334,560 | |
Interim Chief Operating Officer |
|
2022 | |
| — | | |
| — | | |
| — | | |
| — | | |
| — | |
|
(1) |
The
amounts in this column reflect the fair value on the grant date of the option awards granted to the named executive officer, calculated
in accordance with ASC Topic 718. Stock options were valued using the Black-Scholes model. The grant-date fair value does not necessarily
reflect the value of shares which may be received in the future with respect to these awards. The grant-date fair value of the stock
options in this column is a non-cash expense that reflects the fair value of the stock options on the grant date and therefore does
not affect our cash balance. The fair value of the stock options will likely vary from the actual value the holder receives because
the actual value depends on the number of options exercised and the market price of our common stock on the date of exercise. For a
discussion of the assumptions made in the valuation of the stock options, see Note 10 to our consolidated financial statements included
in our Annual Report on Form 10-K for the year ended December 31, 2023. |
|
|
|
|
(2) |
The
amounts in the “All Other Compensation” column consist of certain benefits provided to the officers listed, which are generally
available to our similarly situated employees, including 401(k) company matching and technology stipend. For Mr. Jemmett, the amounts
in this column consist of 401(k) company matching contributions ($13,218) and a technology stipend ($900). For Mr. Young, the amounts
in this column consist of 401(k) company matching contributions of ($11,268) and a technology stipend ($900). |
|
|
|
|
(3) |
Mr.
Young was appointed to serve as our Interim Chief Operating Officer on March 31, 2023. |
RELATED
PARTY TRANSACTIONS
Transactions
with Related Persons
Except
as set out below, during the year ended December 31, 2023, there were no transactions, or currently proposed transactions, in which we
were or are to be a participant and the amount involved exceeds the lesser of $120,000 or one percent of the average of our total assets
at year-end for the last two completed fiscal years, and in which any of the following persons had or will have a direct or indirect
material interest:
| ● | any
director or executive officer of the Company; |
| ● | any
person who beneficially owns, directly or indirectly, shares carrying more than 5% of the
voting rights attached to our outstanding shares of common stock; |
| ● | any
promoters and control persons; and/or |
| ● | any
member of the immediate family (including spouse, parents, children, siblings and in laws)
of any of the foregoing persons. |
Independent
Consulting Agreement with Stephen Scott
In
August 2020, we entered into an Independent Consulting Agreement with Stephen Scott, a then director of the Company, with respect to
advisory and consulting services relating to our strategic and business development, and sales and marketing. Mr. Scott received a consulting
fee of $11,500 per month for such services.
In
July 2023, we entered into an Independent Consulting Agreement with Mr. Scott, to provide, on a non-exclusive basis, advisory and consulting
services relating to our strategic and business development, intellectual property development, banking relationships, and strategic
M&A for a period of one year. Mr. Scott will receive a consulting fee of $15,000 per month for such services under the terms of this
agreement. During the years ended December 31, 2023 and 2022, we paid consulting fees to Mr. Scott in the amounts of $159,000 and $138,000,
respectively.
Managed
Services Agreement with Hensley & Company d/b/a Hensley Beverage Company
In
July 2021, we entered into a one-year Managed Services Agreement with Hensley & Company d/b/a/ Hensley Beverage Company, an entity
affiliated with Mr. McCain, a director of the Company, to provide secured managed services. We also may be engaged by Hensley & Company
from time to time to provide other related services outside the scope of the Managed Services Agreement. While the agreement provides
for a term through December 31, 2021, the agreement will continue until terminated by either party. For the years ended December 31,
2023 and 2022, we received $1,417,398 and $850,445, respectively from Hensley & Company for contracted services and had an outstanding
receivable balance of $152,213 and $15,737 as of December 31, 2023 and 2022, respectively.
Convertible
Note Payable with Hensley & Company d/b/a Hensley Beverage Company
In
March 2023, we issued an unsecured convertible note to Hensley & Company in the principal amount of $5,000,000 bearing an interest
rate of 10.00% per annum. The principal amount, together with accrued and unpaid interest is due on March 20, 2025. At any time prior
to or on the maturity date, Hensley & Company is permitted to convert all or any portion of the outstanding principal amount and
all accrued and unpaid interest thereon into shares of our common stock at a conversion price of $18.00 per share ($1.20 on a pre-reverse
split basis). During the year ended December 31, 2023, we recorded interest expense of $388,888 and as of December 31, 2023, we had accrued
interest of $388,888. Andrew McCain, a director of the Company, is President and Chief Executive officer of Hensley & Company.
LEGAL
PROCEEDINGS
The
Company is not aware of any legal proceedings in which any director, nominee, officer or affiliate of the Company, any owner of record
or beneficially of more than five percent of any class of voting securities of the Company, or any associate of any such director, nominee,
officer, affiliate of the Company, or security holder is a party adverse to the Company or any of its subsidiaries or has a material
interest adverse to the Company or any of its subsidiaries.
WHERE
YOU CAN OBTAIN ADDITIONAL INFORMATION
The
Company is subject to the informational requirements of the Exchange Act, and in accordance therewith files reports, proxy statements
and other information including annual and quarterly reports on Forms 10-K and 10-Q, respectively, with the SEC. Copies of such material
can be obtained on the SEC’s website (http://www.sec.gov) that contains the filings of issuers with the SEC through the EDGAR system.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Information Statement on Schedule 14f-1
to be signed on its behalf by the undersigned hereunto duly authorized.
CISO Global, Inc. |
|
|
|
|
Dated: December 16, 2024
|
|
|
|
|
By: |
/s/ David G.
Jemmett |
|
Name: |
David G. Jemmett |
|
Title: |
Chief Executive Officer and Director |
|
Date: |
December 16, 2024 |
|
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