Board of Directors

Mike Chavanu
Chairman of the Board

Michael Chavanu is a successful business executive and proven entrepreneur who joined the GelStat board of directors on June 15, 2006 and became its Chairman in March of 2008. A long time GelStat shareholder, Mr. Chavanu is the founder of GPAC, Inc. an environmental remediation company specializing in distressed property reclamation, rehabilitation and decommissioning. During the course of the Company's history, GPAC has completed over $80,000,000 in contracts for government agencies, municipalities and corporate clients. Mr. Chavanu also founded Environmental Management Inc., an environmental consulting firm purchased by Professional Service Industries, Inc. in a private transaction.

Adrian G. Goldfarb
Consultant – Director - (Head of Audit Committee)

Mr. Goldfarb has more than 25 years experience in a number of different technology companies including IBM and a Fujitsu subsidiary. In addition to extensive international experience in a variety of management roles, he served as General Manager for the European affiliate of The Weather Channel and was responsible for turning around its European operations after multiple years of losses under previous management. He has most recently been involved in the private equity space, both as a management consultant and investor and recently concluded the sale of one of those companies to a large European investment group. Mr. Goldfarb specializes in the turnaround and growth of emerging companies with a focus on strategic planning and prudent financial management.

Mr. Goldfarb is a graduate of Rutgers University in New Jersey with a BA in Business Administration specializing in Finance.

William R. Colucci
Director

Mr. Colucci is a recognized authority on operations and finance, he serves as an important resource for businesses ranging from start-ups to those with established revenues exceeding $20 million. His decades of hands-on executive experience are evident in the solutions he brings to GelStat. Before joining GelStat Mr. Colucci co-founded Universal Capital and brought profitability to a national ink manufacturer's regional division by reducing inventory, streamlining manufacturing and delivery systems, and rearranging sales territories. In addition to his extensive knowledge of operational troubleshooting, Mr. Colucci brings his talents as an advisor in commercial real estate including industrial land use, marinas and income properties. He earned a bachelor's degree in economics from St. Joseph's University and regularly attends continuing education seminars to stay abreast of the latest business techniques and trends.