NanoLogix Inc (NNLX)

[capitalismforever]

The poison pill does not prevent the company from holding annual votes for the CEO and BOD.

The purpose of a poison pill, contrary to what Nanologix told it's shareholders, is to create a staggered board that makes them impervious to being taken over. Rather than having the ability to replace board members each year at the annual shareholders meeting, a staggered board places board members in their position for several years and staggers those years in a fashion in which the company always maintains control. I suggest you research what a staggered board is. That was the exact purpose why Nanologix implemented the poison pill, as several crafty companies do. I have yet to see a legitimate company implement a poison pill. It has been my experience that those that implement them are generally fraudulent companies, especially in situations when a takeover bid hasn't even been pursued.