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Message: RE: Pardon me if this has already been raised...

RE: Pardon me if this has already been raised...

posted on Apr 06, 2006 09:02AM
Yes, lots of important info in the proxy...still haven`t gotten through reading all. It does look like 60 days from Feb 28th these 3,660,000 opts. need to be exercised tho. That could explain why Gifforn sold some recently.(He will need money to exercise the 820,000)

Turley has 200,00 (maybe incentive to bring him aboard)

Also looks like election is a done deal with basicly the top 5 vote getters of the 7 getting a director spot. Gifforn and Sweeney will not make it. Doesn`t look like we could vacate any seats with the plurality voting.

``Directors are elected by plurality vote, meaning that (should there be more nominees than seats available) the nominees who receive the most votes will be elected for the term nominated, even if the number of votes received by any one or more nominees is less than a majority of the votes cast. Cumulative voting is not allowed in the election of directors.``

ELECTION OF DIRECTORS. To elect the following named persons as directors of the Company to serve until the next annual meeting of stockholders and until their respective successors are elected and qualified: (i) Helmut Falk, Jr., (ii) Gloria H. Felcyn, (iii) Carlton M. Johnson, (iv) David H. Pohl, and (v) James Turley

Salary to be 36k per year. Correction welcome,joe

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