Mr. Stafford is the co-founder and Board Member of Ronin Capital, LLC, a registered broker dealer with proprietary trading operations encompassing equity, fixed income and derivative securities. Ronin Capital is a member of The Chicago Board Options Exchange, The Chicago Mercantile Exchange and other U.S. principal exchanges. From 1975 to 1995, Mr. Stafford was a trader on the floor of the CBOE as an options trader. From 1996 to 2001, he was a Managing Director of Stafford Trading, Inc., a family business primarily involved in proprietary trading operations and options market making. Stafford Trading, headquartered in Chicago, Illinois, operated a market making business and conducted proprietary trading in equities, futures and fixed income products. At the end of 2001, portions of Stafford Trading were purchased by TD Options, LLC. Mr. Stafford has invested in numerous early-stage technology and biotechnology companies. Mr. Stafford graduated from Davidson College with a BA in Economics and earned his MBA from the University of North Carolina.