UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) of the SECURITIES EXCHANGE ACT OF 1934
Date of
Event Requiring Report: January 8, 2010
TRUE PRODUCT ID,
INC.
(Exact
name of registrant as specified in its charter)
DELAWARE
(State or
other jurisdiction of incorporation or organization)
|
000-29249
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16-1499611
|
|
(Commission
File Number)
|
(IRS
Employer Identification Number)
|
Michael
Cimino, President
175 Strafford
Avenue, Suite
One
(Address
of principal executive office (street and number))
Wayne,
PA 19087
(City,
state and zip code)
(610)
687-7668
(Registrant’s
telephone number, including area code)
N/A
(Former
Name or Former Address, If Changed Since Last Report.)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a -12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d -2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e -4(c))
On
January 13, 2010, The Board authorized Mr. Cimino to enter into and execute an
employment agreement with Mr. Cameron Moriarty to become the CEO of the Company
and was executed the same day. The employment agreement provides in part:
“Provided sufficient funds are available, during the three year Employment
Period, the Company shall pay Executive a base salary at the rate of not less
than $7,200.00 per month ("Base Salary"). After three months, subject to the
availability of sufficient funds as mentioned above and profitability of the
Company, the Base Salary shall increase to $10,800 per month and three months
thereafter, subject to the previous revisions, the base salary shall increase to
$14,400.” The agreement also provided that: “On the Commencement
Date, the Company shall issue to Executive two million (2,000,000) restricted
shares of the Company's common stock. One Million of the aforementioned shares
are for services performed prior to October 2, 2007. This issuance is to
compensate Executive for services previously provided by Executive to the
Corporation.
Michael M. Cimino, age 57, was
previously a Director and Officer of True Product ID, Inc.in 2006 at its
inception. He subsequently resigned from its Board of Directors on
November 6, 2006. Mr. Cimino brings many talents to the Company as a past
President and Chairman of a technology orientated public company including
experience in the infomercial industry, direct response television industry. He
is experienced in increasing shareholder value and communicating the company’s
vision to investors and shareholders alike.
Cameron Moriarty, age 56, was
previously a consultant for the Company and was an officer and director of the
company from which TPID was spun out, Sure Trace Security Corp., an
American public company specializing in anti-counterfeit technology for
International Brands and Governments. Among Cameron’s more recent
achievements he was CEO of Bang On Communications where he led a international
team of marketing & branding professionals serving clients around the world
in multiple business sectors. Cameron was CEO of Globe Staff Consulting
headquartered in France developing new geo-localization technologies in the
fight against terrorism in conjunction with the national / local police and
the ministry of the interior for the Republic of France. Cameron currently
consults in the security sector for TRUE product ID to establish related
applications for Governments and the European private sector.
He has an
extensive global marketing, communications and management background with both
private and public sector companies. His post secondary education was in fine
arts and advertising and he holds degrees in both. He has always actively
participated by donating his time and experience to charitable causes and was a
founding governor of the Independence Association for mentally handicapped
people. Cameron also led the communications team to develop the art of medicine
for B.C. Cancer Research in the quest for developing the mapping of human DNA in
the fight against all forms of cancer. He has held senior management
positions in several businesses including communications, oil & gas,
manufacturing and retail. He has developed and executed sales strategies in
excess of $80 M annually. Cameron’s professional postings and career highlights
have included Vice President of Leone (an 18 thousand sq. ft. retail
fashion department store representing such brands as Versace, Armani and DKNY)
and Creative Director & Vice President of Foote Cone & Belding. This was
a position in an international advertising agency where he developed and
executed brand strategies for companies such as Mazda, Air Canada and the
Federal/ Provincial Governments of Canada. Cameron was also Vice President
of Superstar Group Inc., where he managed a regional retail chain consisting of
1,500 employees, 80 stores and 7 retail divisions including the first
independent Nike stores with sales in excess of $60 M annually.
2
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized
TRUE
PRODUCT ID, INC.
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Signature
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Date
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|
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By:
/s/
Michael
J. Antonoplos
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January
13, 2010
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Name:
Michael J. Antonoplos
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||
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Title:
Secretary, True Product ID, Inc.
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3