On November 13, 2019, Mount Tam Biotechnologies, Inc. (the “Company”), and Mount Tam Therapeutics, Inc. and together with the Company, the “Seller”), entered into an Asset Purchase Agreement (the “Agreement”) with Torcept Therapeutics Inc. On November 12, 2019, James Farrell resigned from his position as director and from any and all positions he held with the Company, to be contingent upon and effective immediately as of the closing of the transactions contemplated by the Merger Agreement. Chester Aldridge resigned from his position as director and from any and all positions he held with the Company, to be contingent upon and effective immediately as of the closing of the transactions contemplated by the Merger Agreement. Brian Kennedy resigned from his position as director and from any and all positions he held with the Company, to be contingent upon and effective immediately the transactions contemplated by the Merger Agreement.

James Stapleton resigned from his position as Treasurer, Secretary and Chief Financial Officer, and from any and all positions he held with the Company, to be contingent upon and effective immediately as of the closing of the transactions contemplated by the Merger Agreement. Richard Marshak resigned from his position as the sole director and from any and all positions he held as a manager, officer, and employee of Merger Sub, to be contingent upon and effective immediately as of the closing of the Merger. On the same date, Richard Marshak resigned from his positions as a director and the President and CEO, and from any and all other positions he held with the Company, to be contingent upon and effective immediately after the occurrence of (i) the closing of the transactions contemplated by the Merger Agreement and (ii) the appointment of Peter DiChiara as a Director of the Company.

On November 12, 2019, Peter DiChiara, 55, was appointed as a Director of the Company. Mr. DiChiara, since 2016, has been a partner for Carmel, Milazzo & DiChiara LLP.