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| | | | 26 | | |
| | Our board of directors recommends a vote “FOR” the election of Robert A. Crisafulli, Andrew A. Levy, Richard S. McGowan, | | |
Name | | | Age | | | Position | |
Richard S. McGowan(1)(2) | | | | | Chair of the Board | | |
Robert A. Crisafulli(1)(2)(3) | | | | | Director | | |
Andrew A. Levy(2)(3) | | | | | Director | | |
Walter M. Schenker | | | | | Director | | |
Alexander Shen | | | 61 | | | Director; Chief Executive Officer | |
Fee Category | | | Fees | | |||
Quarterly Retainer | | | | $ | 6,000 | | |
Audit Committee Chair – Annual Retainer | | | | $ | 5,000 | | |
Chair – Annual Retainer | | | | $ | 12,000 | | |
Name | | Fees Earned(1) | | Option Awards(2) | | Stock Awards(3) | | Totals | | | Fees Earned(1) | | Option Awards(2) | | Stock Awards(3) | | Totals | | ||||||||||||||||||||||||||||||||
Andrew Levy | | | $ | 24,000 | | | | | — | | | | $ | 33,500 | | | | $ | 57,500 | | | | | $ | 24,000 | | | | | — | | | | $ | 36,000 | | | | $ | 60,000 | | | ||||||||
Robert A. Crisafulli | | | $ | 29,000 | | | | | — | | | | $ | 33,500 | | | | $ | 62,500 | | | | | $ | 29,000 | | | | | — | | | | $ | 36,000 | | | | $ | 65,000 | | | ||||||||
Richard S. McGowan | | | $ | 36,000 | | | | | — | | | | $ | 33,500 | | | | $ | 69,500 | | | | | $ | 36,000 | | | | | — | | | | $ | 36,000 | | | | $ | 72,000 | | | ||||||||
Walter M. Schenker | | | $ | 24,000 | | | | | — | | | | $ | 33,500 | | | | $ | 57,500 | | | | | $ | 24,000 | | | | | — | | | | $ | 36,000 | | | | $ | 60,000 | | |
| Total Number of Directors | | | 5 | |
| | | Female | | | Male | | ||||||
Part I: Gender Identity | | | | | | | | | | | | | |
Directors | | | | | — | | | | | | 5 | | |
Part II: Demographic Background | | | | | | | | | | | | | |
White | | | | | — | | | | | | 4 | | |
Asian | | | | | — | | | | | | 1 | | |
Name | | | Shares of common stock | | | Percentage | | ||||||
Andrew A. Levy(1) | | | | | 1,978,100 | | | | | | 6.67% | | |
Alexander Shen(2) | | | | | 1,811,879 | | | | | | 5.79% | | |
Walter M. Schenker(3) | | | | | 1,512,073 | | | | | | 5.11% | | |
Thomas Sammons(4) | | | | | 527,189 | | | | | | 1.76% | | |
Richard S. McGowan(5) | | | | | 405,064 | | | | | | 1.37% | | |
Robert Crisafulli(5) | | | | | 175,000 | | | | | | * | | |
All executive officers and directors as a group (six individuals)(6) | | | | | 6,409,305 | | | | | | 19.89% | | |
Name | | | Shares of common stock | | | Percentage | | ||||||
Robert Crisafulli(1) | | | | | 56,250 | | | | | | * | | |
Andrew A. Levy(2) | | | | | 498,473 | | | | | | 5.69% | | |
Richard S. McGowan(1) | | | | | 60,453 | | | | | | * | | |
Walter M. Schenker(3) | | | | | 361,152 | | | | | | 4.13% | | |
Alexander Shen(4) | | | | | 455,470 | | | | | | 4.97% | | |
Thomas Sammons | | | | | 118,322 | | | | | | 1.36% | | |
Barbara M. Lilley | | | | | — | | | | | | * | | |
All executive officers and directors as a group (six individuals)(6) | | | | | 1,431,798 | | | | | | 15.43% | | |
Name and Position | | Fiscal Year | | Salary | | Bonus | | Option Awards(1) | | Stock Awards(2) | | All Other Compensation | | Total ($) | | | Fiscal Year | | Salary | | Bonus | | Option Awards(1) | | Stock Awards(2) | | All Other Compensation | | Total($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Alexander Shen, | | | | 2021 | | | | $ | 300,000 | | | | | — | | | | | — | | | | | — | | | | $ | 5,500 | | | | $ | 305,500 | | | | | | 2023 | | | | $ | 301,154 | | | | $ | 500 | | | | | — | | | | | — | | | | $ | 3,086 | | | | $ | 304,740 | | | ||||||||||||||
Chief Executive Officer | | | | 2020 | | | | $ | 300,000 | | | | | — | | | | | — | | | | | — | | | | $ | 5,020 | | | | $ | 305,020 | | | | | | 2022 | | | | $ | 300,000 | | | | $ | 35,000 | | | | | — | | | | $ | 17,000 | | | | $ | 4,331 | | | | $ | 356,331 | | | ||||||||||||||
Thomas Sammons, | | | | 2021 | | | | $ | 210,000 | | | | | — | | | | | — | | | | | — | | | | $ | 335 | | | | $ | 210,335 | | | | | | 2023 | | | | $ | 235,904 | | | | $ | 500 | | | | | — | | | | | — | | | | | — | | | | $ | 236,404 | | | ||||||||||||||
Chief Financial Officer | | | | 2020 | | | | $ | 210,000 | | | | | — | | | | | — | | | | | — | | | | $ | 316 | | | | $ | 210,316 | | | | | | 2022 | | | | $ | 230,193 | | | | $ | 35,000 | | | | | — | | | | $ | 17,000 | | | | | — | | | | $ | 282,193 | | |
| | Option Awards | | | Option Awards | | ||||||||||||||||||||||||||||||||||||||
Name | | Number of Securities Underlying Unexercised Options (#) Exercisable | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | Option Exercise Price | | Option Exercise Date | | | Number of Securities Underlying Unexercised Options (#) Exercisable | | Number of Securities Underlying Unexercised Options (#) Unexercisable | | Option Exercise Price | | Option Expiration Date | | ||||||||||||||||||||||||||
Alexander Shen(1) | | | | 770,000 | | | | | — | | | | $ | 0.08 | | | August 11, 2025 | | | | | 192,500 | | | | | — | | | | $ | 0.32 | | | August 11, 2025 | | ||||||||
Alexander Shen(2) | | | | 1,000,000 | | | | | — | | | | $ | 0.50 | | | December 26, 2026 | | | | | 250,000 | | | | | — | | | | $ | 2.00 | | | December 26, 2026 | | ||||||||
Thomas Sammons(3) | | | | 500,000 | | | | | — | | | | $ | 0.17 | | | January 20, 2026 | | | | | 125,000 | | | | | — | | | | $ | 0.68 | | | January 20, 2026 | |
Year | | | Summary Compensation – PEO(1) | | | Compensation Actually Paid – PEO(3) | | | Summary Compensation – non-PEO NEO(2) | | | Compensation Actually Paid – non-PEO NEO(3) | | | Value of Initial Fixed $100 Investment Based on TSR | | | Net Income (Loss) | | ||||||||||||||||||
2022 | | | | $ | 356,331 | | | | | $ | 356,231 | | | | | $ | 282,193 | | | | | $ | 282,093 | | | | | $ | 133 | | | | | $ | (349,834) | | |
2023 | | | | $ | 304,740 | | | | | $ | 312,540 | | | | | $ | 236,404 | | | | | $ | 244,204 | | | | | $ | 139 | | | | | $ | (979,006) | | |
| | | | | | | | | | | | Equity Award Adjustments | | |||||||||||||||
Year | | | Executive(s) | | | Summary compensation table total ($) | | | Deduct stock awards ($) | | | Include year-end equity value ($) | | | Change in value of prior equity awards ($) | | ||||||||||||
2023 | | | PEO | | | | | 304,740 | | | | | | — | | | | | | — | | | | | | 7,800 | | |
| | | Non-PEO NEO | | | | | 236,404 | | | | | | — | | | | | | — | | | | | | 7,800 | | |
2022 | | | PEO | | | | | 356,331 | | | | | | (17,000) | | | | | | 16,900 | | | | | | (100) | | |
| | | Non-PEO NEO | | | | | 282,193 | | | | | | (17,000) | | | | | | 16,000 | | | | | | (100) | | |
| | Our board of directors recommends a vote “FOR” the ratification of the selection of Marcum LLP as our independent registered public accounting firm for the fiscal year ending March 31, | | |
| | March 31, 2021 | | March 31, 2020 | | | March 31, 2023 | | March 31, 2022 | | ||||||||||||||||
Audit Fees | | | $ | 260,870 | | | | $ | 238,176 | | | | | $ | 553,024 | | | | $ | 483,855 | | | ||||
Audit related fees | | | | — | | | | | — | | | | | | — | | | | | — | | | ||||
Tax fees | | | | — | | | | | — | | | | | | — | | | | | — | | | ||||
All other fees | | | | 51,500 | | | | | — | | | | | | — | | | | $ | 17,155 | | | ||||
Total | | | $ | 312,370 | | | | $ | 238,176 | | | | | $ | 553,024 | | | | $ | 501,010 | | |
| | Our board of directors recommends a vote “FOR” the resolution approving the compensation of our named executive officers, as follows: | | |
| | RESOLVED, that the compensation paid to the Company’s named executive officers, as disclosed pursuant to Item 402 of Regulation S-K, including the compensation tables and narrative discussion, is hereby approved. | | |