As Christopher Carmichael and are husband and wife, and Nicholas Mitsakos is being paid $25,000 per month for his service as co chair, the Ubiquity board now has no independent directors and no non management directors. This may not be a significant concern for a company that never has had an audit committee or a compensation committee, but investors who own Ubiquity stock and lenders to Ubiquity will understand the import of the lack of independent directors when we examine below the amounts of executive compensation paid in 2014 and 2013. And we have no idea what Ubiquity paid in 2015 executive compensation as Ubiquity has thus far failed to file its 2015 10 K and its 2015 proxy statement..
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