Looks like Ely has stepped aside as CEO to become CTC. The new position, Chief Technology Consultant, was created for Ely to focus on development of 2nd and 3rd products from Electric Moto.

The board of directors announced the creation of an Interim Management Team of corporate personnel designed to (a) launch an immediate executive search for a new CEO, and (b) continue to pursue initiatives outlined by the firm’s investment bankers.

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