Woofun AI reports that Jolie Kahn resigned as CEO of AVAX One Technology on July 3, with COO Pete Wylie assuming the role on an interim basis. The SEC filing describes the departure as mutually agreed, with Kahn receiving $160,000 in cash and $250,000 in stock. ZRG Partners has been engaged to identify a permanent successor.

The leadership transition occurs while AVAX One addresses Nasdaq compliance issues related to its stock price falling below the $1 minimum. A 1:12 reverse stock split approved by shareholders took effect on June 15. The company operates Bitcoin mining facilities with approximately 300 PH/s of computing power, maintains an AVAX treasury for staking rewards, and develops modular data centers for AI applications.