Healthcare Integrated Technologies names new board member

Healthcare Integrated Technologies Inc. (OTC:HITC), a company specializing in amusement and recreation services, announced the appointment of FKP Advisors LLC to its Board of Directors for a three-year term starting April 15, 2025. This appointment includes compensatory arrangements involving stock grants totaling 400,000 shares of the company’s common stock.

The newly appointed board member, FKP Advisors LLC, will participate in a rotational system with Larry Kloess III serving the first year, followed by Jim Fitzgerald and Ben Pope in subsequent years. Each will receive a portion of the annual stock grant. The restricted stock is set to vest in equal parts on April 15 of the years 2026, 2027, and 2028. The company has shown remarkable revenue growth of 1,279% in the last twelve months, though InvestingPro data indicates challenges with gross profit margins at 20%.

FKP Advisors LLC is classified as a non-independent board member due to their eligibility to earn commissions based on sales performance. They will receive a 10% commission on all new sales and a 5% renewal commission on sales they directly generate.

This strategic move aims to strengthen the company’s governance and business development efforts. Healthcare Integrated Technologies Inc., previously known as Grasshopper Staffing, Inc. and Tomichi Creek Outfitters , is headquartered in Knoxville, Tennessee, and is incorporated in Nevada.

The company disclosed these details in a recent 8-K filing with the Securities and Exchange Commission. The filing also included the Board Member Agreement with FKP Advisors LLC, dated April 15, 2025. The information regarding this executive change is based on a press release statement.

In other recent news, Healthcare Integrated Technologies Inc. reported the immediate departure of Kenneth M. Greenwood, who served as the company’s Chief Product Architect. The resignation led to the termination of an engagement agreement with Modus Novus, Inc., and was disclosed in a filing with the Securities and Exchange Commission. The company has not provided details on Greenwood’s successor or the reasons for his departure. In addition, Healthcare Integrated Technologies announced the appointment of Anthony Chapman to its Board of Directors for a three-year term. Chapman’s compensation will be equity-based, with a restricted stock grant of 400,000 shares vesting over the next three years. This development was also disclosed in a Form 8-K filing with the SEC. These recent changes reflect ongoing adjustments in the company’s executive team and governance structure.

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