American Fusion Swaps CEOs: Hawkins Out, Chairman Brent Nelson In
Summary
On October 26, 2026, American Fusion replaced CEO Richard Hawkins with Chairman Brent Nelson, moved Hawkins to Chief Administrative Officer, and named Michael G. Smith Corporate Secretary. Nelson takes the role with no new employment agreement or equity grant, keeping his existing $15,000-per-month consulting deal.
Key Events · Executive and Board Changes · AMFN
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CEO Replaced by Executive Chairman
Richard C. Hawkins ceased as CEO and Corporate Secretary on October 26, 2026. Brent Nelson, Executive Chairman since March 1, 2026, was appointed CEO and continues as Chairman.
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No New Pay Deal for Incoming CEO
Nelson keeps his existing consulting agreement at $15,000 per month on a six-month auto-renewing term. No material contract or equity grant was made in connection with the appointment, and any terms will be disclosed in a later 8-K amendment.
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Outgoing CEO Stays on Payroll
Hawkins was appointed Chief Administrative Officer subject to acceptance, and his separate consulting agreement remains in effect, unamended and unterminated.
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New Corporate Secretary Named
Michael G. Smith, age 66, succeeded Hawkins as Corporate Secretary effective October 26, 2026.
Analysis · AMFN · Energy & Transportation
Why it matters: this CEO change lands at a pre-revenue fusion developer that already warned investors in its August 10-Q of only $79,341 in cash and substantial doubt about its ability to continue as a going concern. The incoming CEO, Brent Nelson, is the controlling stockholder and Executive Chairman who acquired Kepler through a share exchange, so the move consolidates control rather than bringing in outside leadership. He takes the job with no new employment agreement and no equity grant, continuing to draw $15,000 a month under a consulting deal signed March 1, 2026, and the company says it will disclose any real compensation terms in a later amendment. Hawkins stays on as Chief Administrative Officer and keeps his separate consulting agreement, so the cost base does not shrink. Timing adds to the picture: the filing comes three weeks after the October 6 disclosure that the auditor resigned and $2.88M of insider compensation is being converted into Series C convertible preferred, and eight days after MBP Global LLP was engaged as the replacement auditor.
How filings like this one have moved
In the 30 days to Nov 1, 2026, 32.4% of the 1987 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, AMFN was trading at $0.08 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $132.7M. The 52-week trading range was $0.00 to $0.20. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.