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
Report (Date of earliest event reported): May 1, 2010
CODA
OCTOPUS GROUP, INC.
(Name of
Small Business Issuer in its Charter)
Delaware
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000-52815
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34-200-8348
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(State
or other jurisdiction of
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(Commission
File Number)
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(I.R.S.
Employer
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incorporation
or organization
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Identification
Number)
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164 West, 25th Street, 6th Floor, New York
New
York 10001
(Address,
Including Zip Code of Principal Executive Offices)
(212)
924-3442
(Issuer's
telephone number)
(Former
name or former address, if changed since last report)
Copies
to:
Louis A.
Brilleman, Esq.
110 Wall
Street, 11th
Floor
New York,
New York 10005
Phone:
(212) 709-8210
Fax:
(212) 943-2300
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 (see General Instruction A.2. below):
¨ 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))
The Board
of Directors of Coda Octopus Group Inc. (the “Company”) has appointed Judith
Wallace Johnson, CA, CPA, Msc, FCCA, as its Chief Financial
Officer. The appointment took effect May 1, 2010.
From
November 2006 to April 2010, Ms. Wallace was an Internal Audit Manager at
SunOpta Inc, a NYSE listed company with revenues of $1 billion. From
August 2005 to October 2006 she worked with Sobeys Inc., a leading Canadian
grocery chain with revenues in excess of $15 billion. She also worked
with Diageo Plc during a four year time period where she held various positions
including Chief Internal Auditor and Finance Manager. In addition, she has
discharged both internal and external audit functions including for
PriceWaterhouse Coopers where she started her accounting career and held various
positions, including that of Audit Manager and later on with Grant
Thornton. Additionally, she ran her own accounting practice in which
she performed accounting and audit functions for various clients including
private and quasi-governmental organizations. Ms. Wallace is a Certified
Public Accountant and a member of various accounting bodies including a Fellow
of the Association of Certified Chartered Accountants. She is also a
Canadian CA. Ms Wallace holds a Masters in Information Systems from
the University of the West Indies (Mona).
Ms.
Wallace has experience in working with SEC reporting companies including
designing strategies and plans to comply with Sarbanes Oxley. In her
role as the Chief Financial Officer she will be assisting the Company during the
current fiscal year in implementing changes designed to address the material
weaknesses in our control environment on which we have been reporting in our
recent annual reports. We expect to see significant results in this area
during this financial year as we implement action plans that were developed as a
result of an independent review performed in regard to our material weaknesses
previously reported.
Ms.
Wallace will be paid an annual base salary of $200,000. In
addition, she will be paid a monthly car allowance of $850. She will
participate in the Company’s health insurance and is covered under the Company’s
Directors’ and Officers Insurance policy.
(a)
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Financial
Statements.
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None.
(b)
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Exhibits.
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None
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Dated:
May 3, 2010
Coda Octopus Group,
Inc.
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/s/
Geoffrey Turner
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By:
Chief Executive Officer
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