I have been offlline for hours, so I am trying to catch up. I am also in the middle of a security upgrade on multiple laptops and PCs, so I might be offline again, on and off, all night.
First of all -- thanks for pointing me to the bylaws. I had already seen them on Edgar, but I wanted to be sure I had the most recent version. I thought, perhaps, they had been amended at the time of the acquistion of PNCH, particularly with the name change. I thought I was missing something. But I guess I have the right version and nothing has changed with them, by way of any amendments.
The reason the bylaws were important for me to see is because situations such as this are generally spelled out. The case with PNCH is no different.
It is clear how removal of a CEO should occur.
It is clear, as with most companies, what the role of the CFO is. Directors have the ability to inspect the books, but do not have the responsibility to approve them. Approval is the sole responsibility of the CFO -- as is usually the case -- and why the CFO is made to sign the submissions.
It clearly states one person may hold two or more offices.
The bylaws are out there for everyone to see. Before anyone goes to the SEC with anything, I would assume they would have read and understood the bylaws. That's Board of Directors 101.
