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SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2022
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 6- SUBSEQUENT EVENTS

 

On July 5, 2022, the Board of Directors of the Company held a special meeting and approved the following corporate actions or proposals:

 

1) The Board nominated the following incumbent directors to stand for election to the Board for a term commencing upon election and ending in 2023 and the election and assumption of office of successors: (a) Stewart Wallach; (b) James McClinton; (c) George Wolf; (d) Jeffrey Postal; and (e) Jeffrey Guzy, and approved a resolution to seek shareholders vote or consent to these nominees.

 

2) Cash compensation for services as a director and services as a member of the Audit Committee, Compensation and Nomination Committee for independent directors Jeffrey Postal and Jeffrey Guzy was suspended for the remainder of 2022;

 

3) July 8, 2022, was set as the record date for holders of record of issued shares of Company Common Stock entitled to vote for election of, or written consent to election of, directors in 2022 and for any other matters presented for shareholder approval; and

 

4) Approved David Brooks & Associates, PC, as the Companys independent public auditors for fiscal year 2022, per recommendation and approval of Boards Audit Committee, and approved a resolution to seek shareholder ratification of the approval of David Brooks & Associates, PC as the Companys independent public auditors for fiscal year 2022.