Who is HashWatt?

Derek Pew
EXECUTIVE CHAIRMAN AND A DIRECTOR OF HASHWATT

Derek N. Pew is our Executive Chairman and a director. He co-founded HashWatt in December 2017 and was Executive Chairman and a director from December 2017 until the Merger. Prior to co-founding HashWatt, Inc., Mr. Pew was an independent investor and served as Chief Executive Officer of MediaCast Holdings, LLC, a media distribution company created to serve the needs of cultural and performing arts entities, which he co-founded in 2009.

Prior to that, Mr. Pew served as a Director and Chief Executive Officer of Network Acquisition Company which was formed to acquire the assets of Wireless Philadelphia. In 2017, Mr. Pew also co-founded Harena Data, Inc., a sanctioned esports play program development company and has served as its Chairman since that time.

In 2020, Mr. Pew assumed the role of acting Chief Executive Officer of Harena Data, a role he continues to hold.

Mr. Pew received his A.B. from Dartmouth College and his J.D. from The Law School at the University of Pennsylvania where he was an articles editor of the Law Review and took the majority of his third-year courses from the Wharton School at the University of Pennsylvania.

Mr. Pew has served on a number of charitable boards including the Board of Overseers of The Law School at the University of Pennsylvania, the Board of Trustees of the Free Library of Philadelphia Foundation, the Board of Trustees of the Agnes Irwin School and The Board of Directors of the Philadelphia Orchestra Foundation.

We believe that Mr. Pew is qualified to serve on our board of directors due to his perspective and experience as our Executive Chairman, one of our co-founders and an investor in and executive officer of high-growth technology companies.

Kenyon Hayward
Co-Founder, CEO

J. Kenyon Hayward is our President and Chief Executive Officer and a director. He co-founded HashWatt in December 2017 and was President and Chief Executive Officer from December 2017 until the Merger. He has spent more than eight years in the bitcoin investment/blockchain trading field, and began mining bitcoin himself in 2016.

Mr. Hayward has been a founder and/or chief executive officer of many companies for over 35 years. Prior to founding HashWatt, he was a Global Account Executive at SAP Americas in its Cloud Platform Business, from 2013 to 2017. He was Chief Executive Officer of vcopious metaverse, a virtual environment software platform company, from December 2009 to November 2012, and Chief Executive Officer of Redlasso, a digital media video search syndication platform, from February 2006 to September 2008, and worked with various early stage companies prior to that.

Mr. Hayward was Chairman of Wire One Technology, Inc., which was formed when V-SPAN, Inc. was acquired in November 2004. Mr. Hayward founded V-SPAN, a leading global cloud videoconferencing/web conferencing data center/network services firm that is now BT Conferencing, in 1995, and served as its Chairman and Chief Executive Officer until November 2004. He also was a Co-Founder and Vice President Sales, of Advanced Voice Systems, Inc. (ASYNC), a digital voice store and forward ASP acquired by Telecom USA/MCI. Mr.

Hayward received his B.A. in Business from the University of Northern Colorado. He has served on a number of boards, including the regional boards of Habitat for Humanity and Network for Teaching Entrepreneurship (NFTE), and is past President of Brodhead Watershed Association.

We believe that Mr. Hayward is qualified to serve on our board of directors due to his perspective and experience as our Chief Executive Officer and one of our co-founders, his experience as a founder/CEO in building successful large-scale technology companies, and his extensive involvement with bitcoin and other cryptocurrencies.

Joseph Thompson
CFO

Joseph Thompson is our Chief Financial Officer. Prior to the Merger, he served as a financial consultant to HashWatt since December 2019, through QFT Analytics LLC, a consulting firm that provides quantitative financial and business modeling and outside controller services, which he co-founded in 2013. From June 2021 to December 2021, he also consulted with Intelligent Analytics Corp. where he advised on marketing, product-market fit, and related matters.

Mr. Thompson served as Chief Technology Officer of Safetonet Limited, a cyber-safety business focused on protecting children from online harms, from 2021 to 2022, joining the company upon its acquisition of Content Watch Holdings, Inc. He served as Chief Executive Officer, and prior to that Chief Technology Officer, of Content Watch Holdings, Inc., a SaaS company that marketed Net Nanny™ parental control software, from 2017 to 2021. Mr. Thompson was Director of Research for Jacobi Capital Management, where he developed quantitative investment strategies, from 2013 to 2016. Prior to that, he was a venture partner at Alara Capital and co-founded its hedge fund and activist investing practice.

Mr. Thompson co-founded and served as Chief Technology Officer of Circadiant Systems (acquired by JDS Uniphase Corporation in 2008), a venture capital-backed test and measurement company that designed and manufactured instrumentation for optical communication. He also served as a Member of Technical Staff at Lucent Technologies, where he designed analog RF optoelectronic components for high speed optical communication, and as a researcher with the University of Maryland.

Mr. Thompson has been the Chairman of the Board of Giga-tronics, Incorporated, a public company focused on subsystems and test systems used for military defense applications and electronic warfare, since 2016 and a board member since 2011. He is a member of the Audit and Nominating and Governance Committees of Giga-tronics and served as its Acting Chief Executive Officer from August 2016 until June 2017.

Mr. Thompson graduated summa cum laude with a B.S. in Physics from University of North Carolina at Charlotte and holds a Ph.D. in Particle Physics from Stony Brook University. He graduated as a Palmer Scholar with an M.B.A. in Finance from the Wharton School of the University of Pennsylvania.

Joshua Robinson
CTO

Joshua S. Robinson is our Chief Technology Officer. He is a co-founder of HashWatt and became Chief Technology Officer of HashWatt in May 2022. Prior to that he provided consulting services to HashWatt while serving on its board of directors from May 2018 until the Merger.

Prior to joining HashWatt, he was Director of Information Technology for Samuel Coraluzzo Co., Inc., a provider of critical infrastructure in the oil and gas supply chain, from December 2008 to March 2022.

Mr. Robinson was an early proponent and investor in blockchain technology. His expertise in cryptocurrency centers around the network protocols as well as self-custody solutions, financial controls and smart contracts.

Mike Burns
Board of Directors & Chief Investment Officer

Michael Burns is our Chief Investment Officer. He became Chief Investment Officer of HashWatt in May 2022 and served on its board of directors from December 2019 until the Merger. Mr. Burns has experience as a co-founder, investor and executive of multiple venture-backed technology companies. He has been a partner at Murray Hill Group, an investment management company focused on strategic technologies, since 2019, and a co-founder and Chairman of iDEAL Semiconductor, a power semiconductor company, since 2018.

He was a partner at Alara Capital Partners from 2011 to 2019, and served in several executive positions with Content Watch Holdings, Inc., a SaaS company that marketed Net Nanny™ parental control software, from 2016 to 2018. Mr. Burns was a Managing Director at Guggenheim Partners from 2006 to 2011, and at TL Ventures from 2002 to 2006.

He was part of the founding team and ran business development at Agere, a pioneer in network processor ASICs, and at Traffic.com, a provider of data and technology used to enable dynamic route guidance. Earlier he was a program manager for Lockheed Martin Naval Systems.

He voluntarily served as an officer in the U.S. Navy Reserve for 12 years after the 9/11 attacks.

Mr. Burns graduated with a B.S. in Finance from the Wharton School of the University of Pennsylvania, where he was a Benjamin Franklin Scholar, and a B.S.E.E. and M.S.E.E in Electrical Engineering in connection with the Jerome Fisher Program in Management & Technology.

Linda Fonner

Linda M. Fonner is Global Chief Financial Officer of Phillips & Cohen Associates, Ltd., a specialty receivable management company providing customized services to creditors in a variety of unique market segments, since January 2020. Prior to that, she was Finance Director for SEA/India Regions and Managing Director for Singapore for Atotech Limited, a leading chemicals technology company, from December 2017 to December 2019.

Ms. Fonner was Head of Internal Controls – MEAI Region for Bristol-Myers Squibb, a global biopharmaceutical company, from May 2013 to September 2017. Prior to Bristol-Myers Squibb, she was Chief Audit Executive at West Pharmaceutical Services, a medical device manufacturer, from January 2007 to February 2013.

Ms. Fonner is a licensed CPA and holds certifications in internal audit, information systems, risk management, fraud, compliance and ethics, and project management. She received a B.S. in Accounting from Indiana University of Pennsylvania.

We believe Ms. Fonner is qualified to serve on our board of directors due to her experience as a global finance and audit executive advising multi-national businesses on financial reporting, risks, internal controls, and compliance areas for their worldwide operations.

Andrei Kirilenko

Andrei Kirilenko is a Professor of Finance at the Cambridge Judge Business School at the University of Cambridge, since 2019, and the Founding Director of the Cambridge Centre for Finance, Technology and Regulation, and a Research Fellow in the Financial Economics Programme of the Centre for Economic Policy Research. Prior to that, he was the Director of the Centre for Global Finance and Technology at the Imperial College Business School from August 2015 to July 2019.

He was a Professor of the Practice of Finance at MIT Sloan School of Management and Co-Director of the MIT Center for Finance and Policy from January 2013 to August 2015. Prior to MIT, Professor Kirilenko served as Chief Economist of the U.S. Commodity Futures Trading Commission from December 2010 to December 2012, where he used modern analytical tools and methods to design and enforce an effective regulatory regime of financial markets.

Prior to that, he spent twelve years at the International Monetary Fund working on financial crises around the world. Professor Kirilenko is a recipient of several academic and professional awards, including the CFTC Chairman's Award for Excellence (highest honor).

He received his PhD in Economics from the University of Pennsylvania with a specialization in Finance from the Wharton School.

We believe Professor Kirilenko is qualified to serve on our board of directors due to his experience and research involving the intersection of finance, technology and regulation; fintech; asset pricing, data, and digital technologies; and the design of automated financial markets and instruments.

Rudolph Reinfrank

R. Rudolph Reinfrank is the Managing General Partner of Riverford Partners, LLC, a strategic advisory and investment firm which acts as an investor, board member and strategic advisor to growth companies and companies in transition, since 2009. Prior to founding Riverford, Mr. Reinfrank was a co-founder and a Managing General Partner of Clarity Partners L.P., private equity firm focused on media and communications, and a co-founder of Clarity China, L.P., a private equity partnership with investments in Greater China.

Prior to joining Clarity, he was a co-founder and a Managing General Partner of Rader Reinfrank & Co., a private equity fund. His prior experience includes roles as an executive, investor, and advisor across a wide range of industries for the Roy E. Disney and Marvin Davis families.

Mr. Reinfrank is a member of the board of directors of Mount Logan Capital, a Canada based alternative asset management company (NEO:MLC), Perception Capital Corp. II, a publicly-traded blank check company (Nasdaq: PCCT), and Apollo Investment Corporation, a registered investment company and publicly-traded financial services company (Nasdaq: AINV). Mr. Reinfrank is also a Senior Advisor to Grafine Partners, an asset management firm.

Until November 2018, Mr. Reinfrank was a member of the board of directors of Kayne Anderson Acquisition Corp. (Nasdaq: KAAC), chairman of its audit committee, and a member of its compensation committee. Mr. Reinfrank earned a B.A. from Stanford University and an M.B.A. from the UCLA Graduate School of Management.

Mr. Reinfrank is qualified to serve on our board of directors due to his investment, strategic advice and counseling background and financing expertise, and his experience as a public company director.