On January 4, 2019, the Board of Directors of Asta Funding, Inc. appointed Mr. Michael Monteleone as a director of the company, effective January 4, 2019, to fill the vacancy created by the resignation of Mr. Mark Levenfus, which occurred on January 3, 2019. Mr. Monteleone will serve as Chairman of the Board's Audit Committee. Mr. Monteleone is a retired audit partner, formerly with KPMG LLP. His experience includes SEC reporting, mergers and acquisitions, reorganizations and restructurings, as well as other technical financial reporting matters.