Signal Bay, Inc. (OTC: SGBY), a provider of cannabis consulting, research, data, operations & laboratory services, announced the appointment of Dr. Anthony Smith of Medford, Oregon to the Board of Directors of its recently acquired cannabis testing facility CannAlytical Research in Bend, Oregon, according to a Business Wire press release.
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The National Association of Water Companies (NAWC) has announced the organization's new board of directors at its annual October Water Summit, naming Joe Gysel, president of EPCOR Water USA, as president of the NAWC Board of Directors, according to a Market Wired press release.
Promega Board of Directors Sees Six Members Resign
Six of the seven members of Promega’s board of directors have resigned, according to the Wisconsin State Journal.
What private company CEOs want from their boards, Seth Goldman of Honest Tea, and private company governance appointments and news.
Audit Fees On the Rise for Private Companies
According to a survey conducted by the Financial Executives Research Foundation, private companies reported a median increase in audit fees of 2.0% and an average rise of 2.7
The report examines responses from 220 financial executives, and audit fees reported by SEC filers of more than 7,000 organizations.
Private companies that participated in the survey paid an average of $254,740 in audit fees, with a median of $70,000.
InFocus Names Longtime Board Member as New CEO
Mark Housley will take over as the new CEO of Portland private company InFocus, according to a Business Journal article.
Raymond Yu, who was named president in 2011 and served as interim CEO, is staying on as president.
The Push for Microcap Companies to Go Private
According to an article on cfo.com, more than 1,300 U.S.-listed public companies have less than $10 million in earnings before interest, taxes, depreciation and amortization (EBITDA).
Remaining as a public company could destroy shareholder value for these microcap companies, which typically spend $1 million to $2.5 million per year to stay public.
Mark Penn’s Private Equity Group to Buy PR Firm SKDK
Mark Penn’s private investment firm, Stagwell Group, is set to purchase SKDKnickerbocker, according to an article published on Politico.com.
The purchase price was not disclosed, but Stagwell has raised $250 million and may invest as much as $750 million, according to the article.
Electronifie, operator of an anonymous all-to-all corporate bond trading marketplace, announced that Troy Paredes, a former Commissioner of the Securities and Exchange Commission, and Max Kamhi, a successful entrepreneur and strategic investor in early stage companies, have joined the company’s Board of Directors effective immediately, according to a Business Wire press release.
Mayer Brown Launches New Guide on Cybersecurity
Mayer Brown announced that the firm launched a new guide, “Preparing For and Responding To a Computer Security Incident: Making the First 72 Hours Count,” which offers insights on how to prepare for a computer security incident and how to implement a timely, effective response.
The guide’s launch coincides with the beginning of National Security Awareness Month (NCSAM) 2015. Mayer Brown is an official Champion of NCSAM.