DropCar Board Terminates CFO Paul Commons, Appoints Mark Corrao

On February 14, 2019, the board of directors (the “Board”) of DropCar, Inc. (the “Company”) approved (1) the termination of Paul Commons as Chief Financial Officer of the Company and any other positions on which he serves with respect to the Company and its subsidiaries and affiliates, and (2) the appointment of Mark Corrao as the Company’s new Chief Financial Officer, in each case effective as of February 28, 2019.

Mr. Corrao, age 61, has served as Chief Financial Officer of KannaLife Sciences, Inc. since 2012. Prior to that time, Mr. Corrao served as Chief Financial Officer of each of Business Efficiency Experts, Inc., from 2010 through 2012, StrikeForce Technologies, Inc., from 2001 through 2010, and Advanced Communication Sciences, Inc. from 1997 through 2000. Mr. Corrao also has experience in accounting, having previously served as a partner at Frank T. LaFauci, CPAs, as controller at Design Production Management, Inc., as assistant controller at Greenfield Arbitrage Partners, as internal auditor at Spear, Leeds & Kellogg and as an accountant at A.L. Wellen & Co., CPAs. He holds a B.S. in Public Accounting from the City University of New York – Brooklyn College.

Mr. Corrao is employed in at-will capacity and does not have an employment agreement with the Company. As consideration for his services to the Company, Mr. Corrao will receive compensation in the amount of $1,500 per month.

Mr. Corrao has no family relationships with any of the executive officers or directors of the Company. There are no arrangements or understandings between Mr. Corrao and any other person pursuant to which he was elected as an officer of the Company. The Company is not aware of any transactions in which Mr. Corrao has an interest that would require disclosure under Item 404(a) of Regulation S-K.

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