It has come to our attention that a former executive of the firm has sold just over $150,000 of shares over the past 12 months, including roughly $100,000 since the beginning of last October. The former executive also had an additional 165,000 shares which he had given as collateral to a loan company and were subsequently sold on the open market. This former executive left the company during the summer of 2010 and by the conclusion of the year, was no longer in contact with the management team or board of directors.
We wanted to bring this to the attention of our investors as soon as it came to light. This former executive was incorrectly labeled as an ‘insider’, due to the total percentage of shares he owned. We felt it was important to correct this information and to convey that no current members of our management team or board of directors is a seller of shares. Our current management team and board of directors are in full support of Vu1’s growth strategy and are confident we will continue to “shine” on through out 2012 and beyond.
CEO, Vu1® Corporation