Fusemachines Inc. has appointed David R. Wells to serve as the Company’s Consulting Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer, effective August 30, 2026. The appointment was made by the Board of Directors on September 1, 2026.
Mr. Wells, age 64, brings more than 30 years of experience in finance and operations, primarily within the medical and technology sectors. His previous roles include serving as Chief Financial Officer of Envoy Medical, Inc. from August 2023 to May 2025, and as an Advising CFO to Functional Brands Inc. since December 2025. He currently serves as a member of the Board of Directors of HeartSciences, Inc.
Mr. Wells will provide services through Atlas Bookkeeping, LLC, a Nevada corporation he has owned since July 2021. The Company entered into a Services Agreement with Atlas, which requires a monthly advisory fee of $14,500. Additionally, the Company paid a one-time retainer of $10,000 upon the execution of the agreement.
Under the terms of the agreement, Mr. Wells will receive monthly grants of 10,000 restricted stock units (RSUs) under the Company’s 2025 Omnibus Equity Incentive Plan. These RSUs will fully vest on the date of grant. The Services Agreement is set to commence upon execution and continues until terminated, with either party able to terminate the agreement upon 30 days’ written notice, or 15 days’ notice in the event of a material breach.
