telkonet_8k-121707.htm
UNITED
STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT PURSUANT
TO
SECTION 13 OR 15(D) OF THE
SECURITIES
EXCHANGE ACT OF 1934
December
11, 2007
________________
(Date
of
earliest event reported)
TELKONET,
INC.
________________
(Exact
Name of Registrant as Specified
in Its Charter)
Utah
________________
(State
or Other Jurisdiction of
Incorporation)
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001-31972
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87-0627421
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(Commission
File No.)
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(I.R.S.
Employer Identification No.)
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20374
Seneca Meadows Parkway, Germantown, Maryland 20876
(Address
of Principal Executive Offices)
(240)-912-1800
(Registrant's
Telephone Number)
Not
Applicable
(Former
Name or Former Address, if Changed Since Last Report)
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
[
] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425).
[
] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12).
[
] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b)).
[
] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c)).
5.02 Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers.
On
December 11, 2007, the Company appointed Jason Tienor President and Chief
Executive Officer and Dorothy “Dottie” Cleal Chief Operating Officer of the
Company. Both Mr. Tienor and Ms. Cleal remain employed pursuant to
the terms of their existing agreements.
Mr.
Tienor was appointed to replace the Company’s prior President and Chief
Executive Officer, Ronald W. Pickett, who resigned on December 11,
2007. Effective December 11, 2007, Mr. Pickett was appointed to serve
as Vice Chairman of the Company’s Board of Directors.
On
December 11, 2007, Richard J. Leimbach was appointed Chief Financial Officer
of
the Company. In connection with this appointment, Mr. Leimbach’s
annual salary was increased to $190,000.
On
December 11, 2007, Jeff Sobieski was appointed Executive Vice President of
Energy Management for the Company. In connection with this
appointment, Mr. Sobieski’s annual salary was increased to $190,000 and he
remains employed pursuant to the terms of his existing employment
agreement.
Mr.
Tienor has served as Chief Operating Officer of Telkonet since August 20, 2007,
during which time he also served as Chief Executive Officer of EthoStream,
LLC,
a wholly-owned subsidiary of the Company. Prior to his
employment with the Company, Mr. Tienor co-founded Ethostream and has served
as
Chief Executive Officer since 2002.
Ms.
Cleal
has served as Executive Vice President of Telkonet since August 20,
2007. Prior to joining Telkonet, Ms. Cleal served, since 2005, as
Vice President and Director, Navy and Marine Corps Business Program of SRA
International, a billion dollar leading provider of consulting services to
clients in the national security, civil government, health care and public
health industries. From 2000 through 2005 she served as the Navy
account manager as well as the Navy and Marine Corps account manager with
SRA. Prior to joining SRA, Ms. Cleal was the acting Chief Information
Officer and Associate Director for Information Systems and Technology at the
White House.
Mr.
Leimbach has served as Telkonet’s Vice President of Finance since June 2006, and
as Controller from January 2004 until June 2006. Mr. Leimbach is a
certified public accountant with over fifteen years of public accounting and
private industry experience. Prior to joining Telkonet, Mr. Leimbach was the
Controller with Ultrabridge, Inc., an applications solution provider. Mr.
Leimbach also served as Corporate Accounting Manager for Snyder Communications,
Inc., a global provider of integrated marketing solutions.
Mr.
Sobieski has been employed by the Company as Chief Information Officer of
EthoStream since its acquisition by the Company in March 2007. Prior
to his employment with the Company, Mr. Sobieski co-founded Ethostream and
has
served as Chief Information Officer since 2002. Mr. Sobieski is also
the co-founder of Interactive Solutions, a consulting firm providing support
to
the Insurance and Telecommunications Industries.
Item
9.01 Financial Statements and Exhibits.
(d) Exhibits.
99 Press
Release, dated December 12, 2007
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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TELKONET,
INC.
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Date:
December 17, 2007
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By:
/s/ Richard J.
Leimbach
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Richard
J. Leimbach
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Chief
Financial Officer
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