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Posts Tagged ‘SEC’
New SEC Rule allows shareholders to fight Corporate officers for a seat on the Board
By Mike Zaman
Activists who want to change corporate policy now have a weapon. Its a new SEC Rule that allows shareholders to nominate their own Directors and to vote on their appointment.
This new rule gives labour a new weapon to fight corporate mismanagement, or greed, shareholders are now able to field their own candidates for corporate boards and place them on the same ballot as management’s picks. This competitive edge could make a difference in the way public companies act, and in their management practices.
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The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY! Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWENewswire.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWENewswire.com report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (read more) Rule 17B requires disclosure of payment for investor relations.
American International Industries, Inc., Announces Voluntary Withdrawal From NASDAQ Listing
HOUSTON and KEMAH, Texas, Aug. 4, 2010 (CRWENEWSWIRE) — American International Industries, Inc. (Nasdaq:AMIN) (the “Company”) today announced that it has voluntarily withdrawn its listing on the NASDAQ Stock Market effective on or before August 13, 2010 at which time the stock will be subject to quotation on the OTCBB: symbol “AMIN”.
The Company received a letter from NASDAQ on June 23, 2010, that the Company reported on Form 8-K dated June 29, 2010, disclosing that it was not in compliance with the listing rule relating to audit committee independence. This was the result of the issuance of shares over a three year period for total compensation valued at approximately $15,000 to a director who is one of the Company’s attorneys, for services as legal counsel. The Company announced the appointment of Scott Wolinsky to the board of directors and as member of the Audit Committee on July 19, 2010, and disclosed that “with the appointment of Mr. Wolinsky as the third member of the Audit Committee, the Company meets the NASDAQ requirement of having at least three independent directors on its Audit Committee.”
Previously, on May 6, 2010, the Company was informed by NASDAQ that it was not in compliance with NASDAQ Listing Rule 5635(c) because of its issuance of 156,000 shares over a three month period, valued at approximately $160,000, to officers, employees and consultants pursuant to its newly authorized 2010 Employee Benefit Plan without shareholder approval. On July 14, 2010, the Company’s shareholders approved the adoption and ratification of the Plan, following which, the Company issued shares in compliance with Rule 5635(c).
Mr. Daniel Dror, Chairman and CEO, stated, “The Company has always sought advice of its SEC and Corporate legal counsel prior to board approval of any corporate action, including any issuance of shares to officers, directors, key employees and consultants/counsel.” Mr. Dror also stated, “In addition, all of our proxy solicitations for shareholder approval of board of director actions, both prior to and subsequent to our NASDAQ listing, have always received the affirmative votes of over 85% of our shareholders and clearly would have received prior shareholder approval for our 2010 Employee Benefit Plan and any other share issuance. Since the Company’s NASDAQ listing on August 27, 2007, it has continued its practice of preserving its cash reserves through the issuance of shares for valuable services to the Company as compensation to officers, directors, key employees and legal counsel; a practice that is common among many smaller reporting companies, among others.”
Since the first quarter of 2010, our management and board of directors have considered voluntarily withdrawing from a NASDAQ listing in light of the following factors: the size of the Company; the complexity of NASDAQ listing rules; the added costs of maintaining a NASDAQ listing, of over approximately $100,000 a year, including NASDAQ listing fees; the decline in our share price since our August 27, 2007 NASDAQ listing from consistently above $3.75, adjusted for our 20% stock dividends, and from approximately $3.40 in January 2008 to the present price of approximately $1.00 per share; our belief that short selling in our shares increased substantially since the listing on NASDAQ; and the apparent decrease in the liquidity of our trading market since our NASDAQ listing.
Mr. Dror further stated, “Notwithstanding our voluntary withdrawal from listing at this time, in the event that we determine, in the future, that it is again in our shareholders’ best interests to be listed on any of the Exchanges, we are in the process of establishing governance procedures so as to be in compliance with the listing requirements of all Exchanges. Based upon the continued decline of our share price since our NASDAQ listing, our management and board of directors believe that at this time our shareholders will benefit from being on the OTCBB. We continue to evaluate the desirability of application to an Exchange, such as the American Stock Exchange, depending upon market conditions, among other factors.”
American International Industries, Inc. is a diversified holding company, with a business model similar to General Electric, Tyco International, and Berkshire Hathaway. The Company has holdings in Industry, Finance and Oil & Gas, and has a significant Real Estate portfolio, all in Houston, Texas and its surrounding areas. The vision of the Company is to further develop holdings in its core industries and plans to expand its interests in the energy sector through acquisition of existing companies, applying the financial resources and management expertise to foster the growth and profitability of the acquired businesses. The holding company serves as a financial and professional partner to the management of the subsidiaries. The role of the holding company is to improve each subsidiary’s access to capital, achieve economies of scale by consolidating administrative functions, and utilize the financial and management expertise of corporate personnel across all units. The Company is continuing to work with management of the subsidiary companies in an effort to improve revenues, operations and profitability.
Contact:
American International Industries, Inc.
Investor Relations:
Rebekah Ruthstrom
281-334-9479
amin@americanii.com
Disclaimer:
The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of Crown Equity Holdings or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company mentioned or referred to in the article.
VSYM.OB, MOT, CRWEWallstreet.com Stock Report! on Friday
View Systems, Inc. (OTCBB:VSYM.OB), a security and tele-data solutions provider, announced recently that the company is scheduled to commence installation at a prominent Annapolis marina this week.
A marketing blast was sent to a majority of the marinas in the state of Maryland earlier this month. Several have responded and have requested site surveys. The installation at the marina in Annapolis will consist of a digital video recorder and multiple wired and wireless cameras.
View Systems, Inc. develops, produces, and markets computer software and hardware systems for security and surveillance applications. It offers ViewScan concealed weapons detection system, a walk-through concealed weapons detector that uses data sensing technology to pinpoint the location, size, and number of concealed weapons; Visual First Responder, a wireless camera system housed in a waterproof flashlight body that transmits real-time images to a computer or video monitor at a location outside the exclusion zone or containment area; and ViewMaxx Digital Video System, a digital video recording and real-time monitoring system.
More about VSYM at: www.viewsystems.com
Make sure you have VSYM on your watch list, Be Ready for any actions from now!
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Motorola Inc. (NYSE: MOT), the maker of cell phones and other telecommunications equipment, spent $880,000 in the first quarter to lobby the federal government on laws such as those that sought to discourage electronics manufacturers from using minerals from rebel-held mines in the Congo, according to a disclosure report.
Motorola also lobbied the federal government on legislation involving public-safety communications networks and patent reform, according to the report filed on July 20.
More about MOT at: www.motorola.com
Sign Up For Free Stock Alerts At http://crwewallstreet.com/signup
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THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWEWallStreet publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWEWallStreet.com report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur.read more Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings, Inc. (CRWE.OB) was previously compensated five hundred thousand shares from a third party for 60 days (which has expired) of advertisement services for View Systems Inc. (VSYM.OB) during the year of 2009.
VSYM.OB, TER, LNC, CRWEWallstreet.com Stock Report on Thursday
VSYM manufactures and installs weapons detection identification systems, video management platforms and tele-data communication networks targeted towards correctional facilities, schools, courthouses, government agencies, event and sports venues, and commercial businesses.
VSYM recently reported that a military facility has placed an order for an MMV: Multi-Mission Video Recorder.
VSYM’s MMV was designed with input from hundreds of first response professionals and emergency teams. It is a multi-mission video system that is meant to be worn by forward operators.
This rugged and compact system is easy to deploy and use. The body-worn camera and transmitter set send clear and steady video back to scene commanders in real time. The system signal can also be encrypted so that the video can only be seen at the specific viewing console. The unit can also be placed on K-9 units during law enforcement search and rescue operations.
This government order is a testament to the performance and reliability of VSYM’s MMV system.
VSYM expects to deliver the finished product later this month.
More about VSYM at: www.viewsystems.com
Make sure you have VSYM on your watch list, Be Ready for any actions from now!
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Teradyne, Inc. (NYSE: TER) reported revenue of $455 million for the second quarter of 2010 of which $413 million was in Semiconductor Test and $42 million in Systems Test Group. On a non-GAAP basis, Teradyne’s net income in the second quarter was $133.7 million, or $0.69 per diluted share, which excluded acquired intangible asset amortization, non-cash convertible debt interest and restructuring and other charges. GAAP net income for the second quarter was $122.1 million, or $0.55 per diluted share.
More about TER at: www.teradyne.com
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Lincoln Financial Group (NYSE:LNC) yesterday reported net income for the second quarter of 2010 of $255 million, or $0.33 of net income per diluted share available to common stockholders, compared to a net loss in the second quarter of 2009 of $161 million, or $0.62 per diluted share. Net income available to common stockholders in the quarter of $104 million included the write-off of unamortized discount on preferred stock of $131 million associated with the repurchase of all of the preferred shares issued to the U.S. Treasury under its Capital Purchase Program (CPP) along with the accrued dividend and accretion of discount on the preferred stock of $18.3 million in the quarter.
More about LNC at: http://www.lnc.com
Sign Up For Free Stock Alerts At http://crwewallstreet.com/signup
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THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWEWallStreet publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWEWallStreet.com report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur.read more Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings, Inc. (CRWE.OB) was previously compensated five hundred thousand shares from a third party for 60 days (which has expired) of advertisement services for View Systems Inc. (VSYM.OB) during the year of 2009.
VSYM.OB, PCBC, CRWEWallstreet.com Stock Report!
View Systems, Inc. (OTCBB:VSYM.OB), a security and tele-data solutions provider, announced recently that the company is scheduled to commence installation at a prominent Annapolis marina this week.
A marketing blast was sent to a majority of the marinas in the state of Maryland earlier this month. Several have responded and have requested site surveys. The installation at the marina in Annapolis will consist of a digital video recorder and multiple wired and wireless cameras.
View Systems, Inc. develops, produces, and markets computer software and hardware systems for security and surveillance applications. It offers ViewScan concealed weapons detection system, a walk-through concealed weapons detector that uses data sensing technology to pinpoint the location, size, and number of concealed weapons; Visual First Responder, a wireless camera system housed in a waterproof flashlight body that transmits real-time images to a computer or video monitor at a location outside the exclusion zone or containment area; and ViewMaxx Digital Video System, a digital video recording and real-time monitoring system.
More about VSYM at: www.viewsystems.com
Make sure you have VSYM on your watch list, Be Ready for any actions from now!
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Pacific Capital Bancorp (Nasdaq:PCBC) (the “Company”) and its wholly-owned subsidiary, Pacific Capital Bank, N.A. (the “Bank”), announced today that the Company has extended the Company Expiration Date and Company Early Tender Deadline with respect to its previously announced cash tender offers for any and all of its outstanding trust preferred securities (the “Trust Preferred Securities”), and that the Bank has extended the Bank Expiration Date and Bank Early Tender Deadline with respect to its previously announced cash tender offers for any and all of its outstanding subordinated debt securities (the “Subordinated Debt Securities”), in each case in the manner described below.
Shares of PCBC Jumped $0.4122 (+46.96%), up to $1.29 before closing bell, today!
Sign Up For Free Stock Alerts At http://crwewallstreet.com/signup
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THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWEWallStreet publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWEWallStreet.com report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur.read more Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings, Inc. (CRWE.OB) was previously compensated five hundred thousand shares from a third party for 60 days (which has expired) of advertisement services for View Systems Inc. (VSYM.OB) during the year of 2009.
