Posted On: 08/06/2015 5:36:55 PM
Post# of 30066
Quote from the latest proxy:
"When applying the definition of independence set forth in Rule 4200(a)(15) of The Nasdaq Stock Market, Inc., the Company believes that Robert L. Harris , Donald D. Huffman, Iain G. Ross, and Dr. Joseph Rubinfeld, are independent directors."
Quote from the NASDAQ Initial Listing Guide:
"The company’s board of directors is required to have a majority of independent directors."
The departure of Ross puts them out of compliance with the NASDAQ requirement.
Gerald E. Commissiong - Not Independent
Dr. John W. Commissiong - Not Independent
Robert L. Harris - Independent
Dr. David A. Lowe - Not Independent
Donald Huffman - Independent
Joseph Rubinfeld - Independent
I'm not saying it is fatal to the uplisting. I am just noting that we need to add an additional independent director now.
"When applying the definition of independence set forth in Rule 4200(a)(15) of The Nasdaq Stock Market, Inc., the Company believes that Robert L. Harris , Donald D. Huffman, Iain G. Ross, and Dr. Joseph Rubinfeld, are independent directors."
Quote from the NASDAQ Initial Listing Guide:
"The company’s board of directors is required to have a majority of independent directors."
The departure of Ross puts them out of compliance with the NASDAQ requirement.
Gerald E. Commissiong - Not Independent
Dr. John W. Commissiong - Not Independent
Robert L. Harris - Independent
Dr. David A. Lowe - Not Independent
Donald Huffman - Independent
Joseph Rubinfeld - Independent
I'm not saying it is fatal to the uplisting. I am just noting that we need to add an additional independent director now.
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