Directors

Raymond F. Akers Jr., Ph.D. is Chairman of the Board. Dr. Akers founded the Company in 1989. He has over 25 years of experience in the diagnostics industry having co-founded Drug Screening Systems, Inc., a publicly listed company, in 1987 and Akers Medical Technology Inc. in 1984. He was chief executive officer and vice president of research and development of Drug Screening Systems, Inc. until the sale of the company in 1989 and served as president and chief executive officer of Akers Medical Technology Inc. until 1987. He holds a Ph.D. in Neurochemistry from Northwestern University. Dr. Akers is the inventor of PIFA.

Edward Mulhare is a Non Executive Director, having joined the Board in April 1994. He has served as the chairman of the board of SenTech EAS Corporation since May 1994, and over the past ten years has served as a director of fifteen companies including Aldila Inc., Truck Components, Inc., Pan American Diamond Co., McGraw Industries, Inc., and American Silver Co. He served as the chairman of the board and chief executive officer of Merrill Lynch Interfunding, Inc., which managed a $1.6 billion leveraged acquisition portfolio. In addition, he has served as executive vice president of Republic National Bank of New York and vice president of Prudential Insurance Company.

Thomas A. Nicolette is President since February 2007 and Chief Executive Officer effective April 2008. Mr. Nicolette has been a member of the Board since May 2006. Since 2000 he has served as principle of Nicolette Consulting Group Limited. In that role, Mr. Nicolette has been an officer and/or director of companies in the USA, Canada, Mexico, UK, France and Germany. Prior, he has served as Chief Executive Officer of several public companies. The largest, KNOGO Corporation, was a NYSE listed multinational company with subsidiaries and manufacturing facilities in 42 countries around the world employing over 4,000 people. KNOGO, recognized as the founder of the Electronic Article Surveillance (EAS) antishoplifting industry, was sold to Sensormatic Electronics in 1994 and is now part of Tyco International's ADT Security. Mr. Nicolette is a graduate of Michigan State University School of Criminal Justice.

 

Committees

Audit committee
The audit committee is responsible for ensuring that the financial performance of the Company is properly monitored and reported on. Ed Mulhare serves as the chairman.  It meets with the auditors who are formally invited to attend each meeting without the executive directors being present, and reviews reports relating to accounts and internal control systems.

The committee operates within specific terms of reference which include; considering the appointment of external auditors; reviewing the effectiveness of financial reporting and internal control procedures; monitoring the integrity of the financial statements of the Company, and any significant financial reporting judgments contained therein; and reviewing the independence and objectivity of the external auditors.

Remuneration committee
The principle purpose of the Committee is to agree to the directors' salary increases, annual bonuses and any changes in benefits. It also agrees share options granted to the directors. For the purpose of reaching appropriate decisions the Committee may refer to relevant sources of information. Ed Mulhare serves as the chairman.

Senior Executives

Leroy J. Meyers, Jr., Vice President of Operations, having joined the Company in July 2002. During his career, Mr. Meyers served in similar positions in medical product companies for more than 25 years. Mr. Meyers holds a BS in Biology from Rutgers University.

Patrice Laterra McMorrow, Vice President of Business Development, joined the Company in June 2004. Ms. McMorrow has over 20 years of sales and marketing experience in the pharmaceutical, ophthalmic eyewear and fashion industries. Competencies include sales operations, distribution management, and strategic and tactical planning. She holds an MBA in Marketing from Seton Hall University.

Articles of Incorporation

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