The company also announced that Steve Harrison and Gary Cox have agreed to join the Board of Directors. While NASDAQ staff had determined, based on the information they had available, that Mr. Harrison did not qualify as an "independent member" of the Board according to the Marketplace Rules, the Company believes that both Mr. Harrison and Mr. Cox meet the criteria dictated by NASDAQ market place rules regarding independent Directors and Officers qualifications and intends to review these and the other issues raised by the NASDAQ at the May 16 hearing.
Steven V. Harrison, II, is the President of Empact, Inc. a consumer products based marketing company. From 1997 to 2001, he was the founder, President and CEO of InTouch Communications, Inc., a Competitive Local Exchange Carrier (CLEC), providing residential and business telephone services within the state of California, with annual revenue of more than $15 million. During 2001 and 2002, he was an investor in a number of healthcare and consumer products companies including Beep for Free.com LLC. From 1991 to 1997, Mr. Harrison was Chief Executive Officer of Resource Medical Group, Inc., providing management consultancy services to the healthcare industry assisting hospitals, Health Maintenance Organizations, clinics, and practice management firms with medical staff planning and contracting issues, feasibility studies, and physician recruitment and retention. Aside from his role as Board Member for NuWay, Mr. Harrison has no current business dealings with the company or any its officers, directors or affiliates.
Gary Cox agreed to join the Board of Directors on May |
