Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 30, 2014, James E. Solomon resigned as Chief Financial Officer and as a
member of the board of directors (the "Board") of EFactor Group Corp. (the
"Company"). Mr. Solomon did not resign as a result of any disagreements with
the Company on any matter relating to the Company's operations, policies or
On June 30, 2014, John Barbera resigned as a member of the Board. Mr. Barbera
did not resign as a result of any disagreements with the Company on any matter
relating to the Company's operations, policies or practices.
On June 30, 2014, Adriaan Reinders resigned as chairman of the Board and was
succeeded by Thomas Trainer, a current member of the Board. Mr. Reinders will
continue to serve as the Chief Executive Officer of the Company and as a member
of the Board.
On June 30, 2014, the Board appointed Mark Noffke as Chief Financial Officer of
the Company and as a member of the Board. Mr. Noffke has more than 35 years of
experience as a seasoned financial and management professional. Mr. Noffke has
served as Executive Vice President of Finance of the Company since October 2012.
Since January 2007, he has also served as chief financial officer of Beyond
Commerce, Inc., an e-commerce company (OTC PINK:BYOC). From August 2006 to
January 2007, Mr. Noffke served as chief executive officer of Financial Media
Group, Inc., a formerly public investor relations company. He served as chief
financial officer of National Storm Management, Inc., a storm restoration
company, from May 2004 to August 2006, where he was instrumental in its initial
public offering. From September 1996 to June 2003, Mr. Noffke served as the
chief financial officer and a director of U.S. Forest Industries, Inc., a
formerly public timber manufacturing company, where he was responsible for
developing its accounting infrastructure. Mr. Noffke is a Certified Public
Accountant in Illinois and has a Bachelor of Science in Accounting from
Valparaiso University in Indiana.
There are no family relationships between Mr. Noffke and any of the Company's
directors or executive officers and the Company has not entered into any
transactions with Mr. Noffke that are reportable pursuant to Item 404(a) of