NanoViricides Inc. (NNVC)

[loanranger]

Let me try that again with a little color:

Most substantial Companies that have an organizational structure also publish a document entitled Levels of Authority. It describes by dollar amount and nature of expense who can spend how much on what. Expenditures that require Board approval are unusual and obviously of the highest order (like the acquisition of a building). A supplement to a license agreement wouldn't ordinarily be expected to meet that definition in most cases.
In NNVC's case I doubt that such a document exists. AD has had control of the Company in virtually every way...financially and politically...and such a document could only act as a constraint on his authority and he would have had to agree to its institution.

The original Amended License Agreement was signed by AD for TC and Leo Ehrlich for NNVC, both as Officers, and there is no mention of NNVC Board approval in the Agreement.
https://www.sec.gov/Archives/edgar/data/1379006/000114420406047712/v057372_ex10-6.htm


That said, I'd like to change my answer from "No they don't" to "It ain't likely".