Check Out This Wake~Up~Call!
U.S. Marine Corps requested that General James M. Feigley, Chairman of the Board of Applied Energetics, Inc.; Co-Chair a team of both active and retired General Officers to analyze its current weapons acquisition system and make recommendations for its immediate improvements.
Mr. Feigley further advised the Board of Applied Energetics, that this activity will begin on or about July 16, 2012 and continue through October and that he has accepted this appointment.
The comprehensive nature of this task is such that he would be unable to devote the time necessary to properly discharge his duties as Chairman of the Board of Applied Energetics. The needs of both the shareholders and employees of the Company deserve the undivided attention of its Chairman which this new responsibility would preclude. As such he resigned his position and membership on the Board effective July 9, 2012..
General Feigley served as a member of the Nominating and Governance Committee and Compensation Committee of the Board Board of Applied Energetics, Inc and Mr. Harlan served as a member of the Audit Committee of the Board and Chairman of the Compensation Committee of the Board. Messrs. Feigley or Harlan did not resign due to a disagreement on any matter relating to the Company's operations, policies or practices.
Dam Right, We Will See Contracts Flowing AERG's Way, Now That The DoD Has Woken Up!!!