---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-24-033935"
form_type: "8-K"
ticker: "FABC"
cik: "0001086745"
company_name: "Fabric.AI, Inc."
filed_at: "2024-08-27T23:59:59+00:00"
generated_at: "2026-05-31T07:20:39.249020+00:00"
event_type: "leadership"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# AYRO appoints new CFO and President to re-engineer low-speed EV Vanish

## Summary
- Joseph Ramelli appointed CFO effective Aug 21, 2024; brings capital markets experience from biotech/finance.
- Gilbert Villarreal named President of AYRO's operating subsidiary; founder of GLV Ventures, 25 yrs EV manufacturing.
- Executive Chairman Josh Silverman highlights $37M cash (June 30); plan to re-engineer Vanish for cost reduction.
- Company evaluating M&A and capital investment opportunities to maximize stockholder value.

## SEC filing metadata
- accession: 0001493152-24-033935
- form_type: 8-K
- ticker: FABC
- cik: 0001086745
- company_name: Fabric.AI, Inc.
- filed_at: 2024-08-27T23:59:59+00:00
- event_type: leadership
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1086745/000149315224033935/0001493152-24-033935-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1086745/000149315224033935/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-24-033935
- JSON: https://secwatch.observer/filing/0001493152-24-033935.json
- Plain text: https://secwatch.observer/filing/0001493152-24-033935.txt

## Key facts
- Executive change
  Gilbert Villarreal was appointed as President of the Company’s subsidiary, DropCar Operating Company, Inc. at Fabric.AI, Inc..
  - Action: appointed
  - Role: President of the Company’s subsidiary, DropCar Operating Company, Inc.
  source text: On August 21, 2024, Gilbert Villarreal was appointed to the position of President of the Company’s subsidiary, DropCar Operating Company, Inc. (“Operating Subsidiary”), effective as August 21, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1086745/000149315224033935/0001493152-24-033935-index.htm
- Executive change
  Joseph Ramelli was appointed as Chief Financial Officer at Fabric.AI, Inc..
  - Action: appointed
  - Role: Chief Financial Officer
  source text: On August 21, 2024, Ayro, Inc. (the “Company”) appointed Joseph Ramelli to the position of Chief Financial Officer of the Company, effective as August 21, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1086745/000149315224033935/0001493152-24-033935-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.