Ameri Metro removes CFO Philip Hicks for alleged unethical/illegal behavior; appoints interim CFO Frank Worrell

Ameri Metro, Inc. (formerly Yellowwood)

Philip M. Hicks removed from all positions effective immediately for unprofessional and unethical behavior, including self-dealing, false commitments, and misrepresentation.
Specific allegations include excessive personal gain, unauthorized disclosures, and attempts to inflict reputational damage on officers.
Frank E. Worrell appointed interim CFO; he is a CPA, CFF, former FBI Special Agent focused on corporate fraud, and CFO of GIFDA.
No financial impact disclosed; company leadership cites illegal and unethical conduct.

item 5.02

Executive movements

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Appointed (interim)

Frank E. Worrell

Chief Financial Officer

Ameri Metro, Inc. (formerly Yellowwood)

Effective: 2024-08-12
Filed: August 12, 2024, 7:59 PM ET

Mr. Frank E. Worrell, CPA, CFF has been named interim Chief Financial Officer for Ameri Metro, Inc.

Departed

Philip M. Hicks

Chief Financial Officer

Ameri Metro, Inc. (formerly Yellowwood)

Effective: 2024-08-12
Successor: Frank E. Worrell
Filed: August 12, 2024, 7:59 PM ET

Effective immediately, Philip M. (“Marty”) Hicks has been removed from all positions in Ameri Metro, Inc. due to unprofessional and unethical behavior concerning Ameri Metro, Inc., related entities, and their operations.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Frank E. Worrell was named as Chief Financial Officer at Ameri Metro, Inc. (formerly Yellowwood).

Action: named
Role: Chief Financial Officer

Exact text from the filing

Mr. Frank E. Worrell, CPA, CFF has been named interim Chief Financial Officer for Ameri Metro, Inc.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Philip M. Hicks was removed as Chief Financial Officer at Ameri Metro, Inc. (formerly Yellowwood).

Action: removed
Role: Chief Financial Officer

Exact text from the filing

Effective immediately, Philip M. (“Marty”) Hicks has been removed from all positions in Ameri Metro, Inc. due to unprofessional and unethical behavior concerning Ameri Metro, Inc., related entities, and their operations.

View on SEC.gov

Source: SEC EDGAR

accession 0001213900-24-067690

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