Fri, May 16, 6:25 PM (33 days ago)
**Provectus Biopharmaceuticals, Inc. (PVCT) 10-K/A Summary** **Company Overview:** Provectus Biopharmaceuticals, Inc. (PVCT) is a biopharmaceutical company focused on developing and commercializing novel drugs for cancer and dermatology. This 10-K/A amendment updates the original filing to include information required by Part III, which was not included due to a technical issue delaying the definitive proxy statement. **Financial Performance:** - The amendment does not provide updated financial figures. For the most recent financial data, refer to the original 10-K filing for the year ended December 31, 2024. **Corporate Governance:** - **Board of Directors:** As of April 21, 2025, the board consists of four members: Webster Bailey, John Lacey, III, M.D., Ed Pershing, CPA, and Dominic Rodrigues. Two members, Dr. Lacey and Mr. Bailey, are considered independent. - **Board Committees:** The company has three standing committees: Audit, Compensation, and Corporate Governance and Nominating. Each committee met multiple times in 2024, with all directors attending the 2024 Annual Meeting of Stockholders. - **Executive Officers:** As of April 21, 2025, the executive officers are Edward Pershing, CPA (CEO), Dominic Rodrigues (President), Heather Raines, CPA (CFO), and Eric A. Wachter, Ph.D. (CTO). **Executive Compensation:** - **Base Salaries:** Ranges from $170,000 to $240,000 per year for named executive officers. - **Stock Options:** Significant stock options were granted on December 2, 2024, with varying vesting schedules. - **Severance and Change in Control Provisions:** Agreements include severance payments and benefits in case of termination, with enhanced payments in the event of a change in control. **Stock Ownership:** - **Insiders:** Key insiders hold substantial shares, with Edward Pershing holding the most at 8.6% of the outstanding common stock. - **5% Stockholders:** Jeffrey Allen Morris holds 14.4% of the outstanding common stock. **Related Party Transactions:** - **Financing:** The company has issued convertible promissory notes to related parties, including Edward Pershing, totaling $1,720,000 in 2024 and 2025. - **Consulting Fees:** Paid Bruce Horowitz $21,200 in 2024 and Dominic Rodrigues $20,000 before his appointment as President. **Future Outlook:** - The amendment does not provide specific future outlook details. For strategic initiatives and future prospects, refer to the original 10-K filing. **Risk Factors:** - The amendment does not update risk factors. For a comprehensive list of risk factors, refer to the original 10-K filing. **Financial Condition:** - The amendment does not provide updated financial condition details. For the most recent financial condition, refer to the original 10-K filing. **Market Position:** - The company's market position and changes are not detailed in the amendment. For the latest market position, refer to the original 10-K filing. **Conclusion:** This 10-K/A amendment primarily updates Part III of the original filing to include required information on directors, executive officers, and corporate governance. For detailed financial performance, future outlook, and risk factors, refer to the original 10-K filing for the year ended December 31, 2024.