Item 5.02
Departure
of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
(a)
Resignation of Directors
On
December 21, 2017, Randall Letcavage resigned from his positions as an officer and director of Legacy Ventures International,
Inc. (the “Company”).
Mr.
Letcavage also resigned from his positions as an officer and director of Nexalin Technology, Inc. the Company’s operating
subsidiary (“Nexalin”).
As
a result of the resignation described above, there are no common officers or directors of the Company, or Nexalin, on one hand,
and any other entity for which Mr. Letcavage serves as an officer or director, on the other hand.
There
were no disagreements between Mr. Letcavage and us or any officer or director of the Company or Nexalin.
(b)
Resignation of Officers
The
disclosures set forth in Item 5.02(a) above are incorporated by reference into this Item 5.02(b).
(c)
Appointment of Directors
On
December 21, 2017, Mark White was appointed Interim Chief Executive Officer and Interim Chief Financial Officer of the Company.
Mr. White will also retain his position as COO of the Company. In addition, Rick J. Morad was appointed the sole director of the
Company.
On
December 21, 2017, Mark White was appointed Interim Chief Executive Officer and Interim Chief Financial Officer of Nexalin. Mr.
White will also retain his position as COO of Nexalin. In addition, Rick J. Morad was appointed sole director of Nexalin.
(d)
Appointment
of Officers
The
disclosures set forth in Item 5.02(c) above are incorporated by reference into this Item 5.02(d).
The
business background descriptions of the newly appointed officer and directors are as follows:
Mark White, President and Chief Executive Officer
In 1992, Mr. White
began building a portfolio of service companies in Houston, Texas. Mark’s ability to design, develop, and implement stable
and efficient business models positioned his companies as industry leaders.
In 2008, Mr. White began focusing his business interests on the evolving healthcare industry.
He identified a void in successful mental health treatment and addiction treatment. His research indicated that void would be filled
by the emerging digital medical technologies and treatments that focused on the health of the brain. He immediately aligned his
business interests with Nexalin Technology Inc.
Mr. White now leads the outstanding growth and development
that Nexalin Technology has experienced over the last 7+ years. He is involved and instrumental in every aspect of the company
including the development and understanding of Nexalin’s future in Opiate addiction treatment community. From owning and
operating his own clinics and addiction centers, where he has seen first-hand the positive results the technology achieves, he
has provided significant contributions to the corporate marketing strategy, manufacturing and FDA compliance, as well as coordinating
international clinic trials.
Mr. White is an experienced and well-respected trainer
and presenter internationally on the subject of “Brain Based Health” and “Brain Based Recovery”. He is
a thought leader in the application of brain stimulation and its ability to address mental health and addiction issues in the United
States. Mr. White has also appeared on several prominent news and media shows speaking on Nexalin Technology and electrical brain
stimulation as a form of drug free treatment for various psychiatric disorders and addiction treatment.
Mr. White has spent the last seven years immersed in the
Nexalin Technology and the patient and practitioner community. In 2010, Mr. White’s distribution company, iiCOM Strategic,
became the first national distribution provider for Nexalin Technology Inc. His development of clinical models utilizing the Nexalin
Technology has positioned him as an industry leader in all aspects of Nexalin and its clinical applications across the United States
and more recently, China. In January of 2012, Mr. White joined the Nexalin Technology corporate team to oversee operations and
the development of a successful business model. In December of 2017 was named President and CEO.
Mr. White has a background of being a successful entrepreneur
and executive for over 20 years; specializing in the financial performance of service-based technology companies. He has decades
of success building teams and implementing effective processes, with an emphasis on organizational development, financial stability
and the quality and efficiency of services.
In addition to his considerable responsibilities with Nexalin
Technology, Mr. White is the Founder of Unique Mind Care in Houston, TX, a clinical leader in the brain health arena. His focus
on drug free treatments that utilize QEEG testing and treatment technologies in conjunction with Nexalin has positioned Unique
Mind Care as a leader in the brain health community.
Currently Mr. White is transitioning
his focus and responsibilities to a full time commitment with Nexalin Technology. He intends to position the company as a leader
in the Neurostimulation and Neuromodulation community.
Rick
J. Morad, Director
Mr.
Morad graduated John Carroll University in 1980, with honors, BS and BA. He established Game One Inc., a family entertainment
center, in 1987, and have owned and operated this business for the last 30 years. He attended John Marshall Law School in 1991
and graduated in 1995 (magna cum laude) and passed the bar that same year.