So ACS is to be believed.
The 8-k states that ACS will own the keystroke patents when they are paid for. According to the USPTO, SFOR still owns them (fact). And when they move forward and pay up, SFOR is required to announce it to shareholders via 8-k within days.
As far as Waller is concerned, more mis information. Many companies name different people VP's for different reasons and there are many levels of VP's.
A corporate vice president is an older term that usually denotes a vice president that is named as a corporate officer by the board of directors. Not all vice presidents in a company in the modern business environment are named as an official corporate officer.
Hierarchy of Vice Presidents
Depending on the specific organization, the following may be an example of the hierarchy of the vice presidents:
Deputy President (DP)
First Executive Vice President (FEVP)
Senior Executive Vice President (SEVP)
Executive Vice President (EVP)
Senior Vice President (SVP)
Corporate Vice President (CVP)
Vice President (VP)
Assistant Vice President (AVP) or Executive Director
Senior Director
Director
This is very common in banking to glamorize lending officers. I happen to know a few. Looks good on their business card and digital signature...especially in commercial bank lending.
I have a friend that installs turf fields $50-100 milly company. They have retired NFL and MLB reps. Guess what all their titles are. Yep, VP's. In this case they have nothing to do with the tradition meaning of an VP. They are merely the face(s) of the company to wow the client.
Another example. I used to be an executive for three companies at once. Two of those companies worked together and also sold products to competing companies. This created necessary efficiencies.
VP's can be hired for any period of time. Depends on their contract. And they may not have any power in the day to day operation of that particular company.
That being said, Waller, in my opinion if the most familiar with the products (other than Ram, he's a brain, not a speaker) and can explain them and help to sell them. So therefore he may only have a title but has no say in ACS. He is there to help push the product and like the retired athletes that I mentioned earlier (who know nothing about the product, have nothing to do with the day to day affairs are merely faces) he can get more respect with a title. This is how thousands of companies do business.
IMO
GLTA
