BEVERLY, Mass., Feb. 17 /PRNewswire-FirstCall/ -- LocatePLUS Holdings Corporation (Pink Sheets: LPHC), a business-to-business and business-to-government provider of investigative, identity validation, and homeland security solutions announced today the January 26, 2009 election of an entirely independent Board of Directors.
"This election of a reconstituted independent Board through the consent of a majority of stockholders completes a transition initiated by stockholders over recent months," stated Dr. Christian T. Williamson, Chairman of the Board of Directors.
Board Member and Audit Committee Chair George Isaac, CPA observed, "The credibility and integrity of an organization is of paramount concern when seeking to interact with credit markets and capital sources. Achieving an entirely independent Board is an important first step in reintroducing the Company to the markets and it will enhance the Company's standing with the investment community."
"Our goal in this dramatic and significant response to the Company's current valuation is to take back the high ground of capital market confidence," asserted former professor Richard L. Pyle, MBA, PHD in Business.
The independent Board is made up of seven members as restructured from nine pursuant to the shareholders consent-process election. David Skerrett and Ralph Caruso, longstanding independent Board members have been returned to the Board through the process. Three seats are held by members invited to join the Board in the fall of 2008. They are Christian Williamson, George Isaac, and Richard Pyle. New members James Ahearn and Patrick Murphy hold the remaining two seats.
Mr. Skerrett is a senior vice-president of a Top-400 civil construction firm with operations in the northeast and holds a Bachelors degree in engineering. Mr. Caruso, the other longstanding independent board member, is the founder and President of a c
|SOURCE LocatePLUS Holdings Corporation|
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