BOD got accelerated options vesting and 15 months to exercise. AWFUL!!!
On April 4, 2014, each of Lawrence S. Burstein, Harold D. Copperman, Robert J. Farrell and Michael P. Monaco (collectively, the “Former Board Members”) informed the Company of their respective decisions not to stand for re-election to the Company’s board of directors (the “Board”) at the 2014 annual meeting of stockholders, which was held on June 20, 2014 (the “2014 Annual Meeting”).In connection with the Former Board Members’ departure, the vesting of certain options granted to the Former Board Members under the 2009 Director Plan was accelerated and the post termination exercise period was extended from a period of three (3) months to fifteen (15) months after the Former Board Members ceased to serve as members of the Board on June 20, 2014. Due to the modification of the terms of the stock options, the Company recognized $49,000 of additional stock-based compensation expense for the three-month period ended June 30, 2014 which is included in the stock option stock-based compensation expense.
Confirmed that P&G is the China customer
New Auto company is GM
WalMart increased TMS by $200K
The increase in industrial and rental fleet management product revenue resulted principally from increased product sales of approximately $0.8 million to the Raymond Corporation, $0.5 million to General Motors Company and $0.6 million to Procter & Gamble (China) Sales Co., Ltd. Transportation asset management product revenue increased by approximately $0.2 million to $1.8 million in 2014 from $1.6 million in 2013. The increase in transportation asset management product revenue resulted principally from increased product sales of approximately $0.2 million to Wal-Mart Stores, Inc.