NanoViricides Inc. (NNVC)

[NNVClover]

Most healthcare companies have a SAB as well as a BOD. However every public company is largely required to have a BOD for the number of benefits they're supposed to provide: checks and balances, networking resources, advice, impartial compensation decisions, strategic quorum, audit trail. A SAB is just a group of scientific advisors - it is very informal. Whereas a Board of Directors has the ability to hire and fire management. The rules of Corporate America are - the shareholders elect the board at the annual meeting. The Board selects management and holds them accountable to their duties. The Board meets every month to discuss strategic perspectives. Many Boards members are retired executives who can provide resources current management does not have access to. Board roles are a labour of love - they pay very little, often only small amounts of stock.

NNVC does not have a Board of Directors.

Yes, I'm short the stock. If you're long, you should ask why there are no independent board members. The Board seems to consist of Diwan and Seymour ONLY, but I can't even verify that. Shareholders are supposed to get a proxy where they can nominate board members. Large shareholders in particular, have rights with respect to who gets to sit on said board. Getting the former CEO of Novartis or someone like that, on the NNVC board would only help them get access to a broader range of people. Even some of Seymour's acquaintances over the years could sit on the board and lend expertise. I don't neccessarily want what is best for this company. But if I were long, I'd want to know why there is no independent Board of Directors. (I'd also push for a CFO!).