The Chairman of MRU's audit committee, Richmond Fish, resigned, according to an 8-K filing on Friday (always a good time to deliver bad news). The company will now need to find two independent directors to serve on their audit committee in order to comply with NASDAQ listing standards which may be a tall order with the stock price at 3.5 cents/share. The company has been actively seeking to raise new capital to enable them to make loans again.
« Just Call it the BIG Bad Bank Proposal | Main | Sallie Mae Signature Loan Terms Modified on Company and Partner Websites »
January 31, 2009
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