New Insider Directors Appinted; Board Size Increased
The company on Wednesday, 2/17, filed an 8-K noting that the Board had increased its size from 9 to 10 people and appointed three additional company employees to the Board of Directors. These employees are: Stephen Anastasio Mitchell E. Appel, and Thomas Sarkany
Actually in the 8-K it only says (expanded teh Board to ten members). In a 13-D that JBB filed it says the board was expanded from nine to ten...
However, Bloomberg lists only 7 directors excluding the 3 new ones and there were no reported resignations from the board. So, it looks as if JBB's filing may need to be amended. You know, if you can count to 5, you should be able to count to ten.
Frankly, for a company in this position, there really should be only a SINGLE insider/employee on the Board of Directors, and that should be the CEO. However, according to the filings, there is a current CEO and an "acting CEO' and only the acting CEO is on the Board!!!