Prospect Ventures Inc. (fka IVAP)

[lazyazzdaddy]

Do I really need to post the link to what a board member is and their different meanings again?
You know what... I might as well just go ahead and do it again....




Directors
http://en.wikipedia.org/wiki/Board_of_directors

The directors of an organization are the persons who are members of its board. Several specific terms categorize directors by the presence or absence of their other relationships to the organization.[8]
An inside director is a director who is also an employee, officer, major shareholder, or someone similarly connected to the organization. Inside directors represent the interests of the entity's stakeholders, and often have special knowledge of its inner workings, its financial or market position, and so on.
Typical inside directors are:
A Chief Executive Officer (CEO) who may also be Chairman of the Board
Other executives of the organization, such as its Chief Financial Officer (CFO) or Executive Vice President
Large shareholders (who may or may not also be employees or officers)
Representatives of other stakeholders such as labor unions, major lenders, or members of the community in which the organization is located
An inside director who is employed as a manager or executive of the organization is sometimes referred to as an executive director (not to be confused with the title executive director sometimes used for the CEO position). Executive directors often have a specified area of responsibility in the organization, such as finance, marketing, human resources, or production.
An outside director is a member of the board who is not otherwise employed by or engaged with the organization, and does not represent any of its stakeholders. A typical example is a director who is president of a firm in a different industry.
Outside directors bring outside experience and perspective to the board. They keep a watchful eye on the inside directors and on the way the organization is run. Outside directors are often useful in handling disputes between inside directors, or between shareholders and the board. They are thought to be advantageous because they can be objective and present little risk of conflict of interest. On the other hand, they might lack familiarity with the specific issues connected to the organization's governance.
Recapping the terminology:
director - any member of the board of directors
inside director - a director who, in addition to serving on the board, has a meaningful connection to the organization
outside director - a director who, other than serving on the board, has no meaningful connections to the organization
executive director - an inside director who is also an executive with the organization. The term is also used, in a completely different sense, to refer to a CEO
non-executive director - a director who is not an executive with the organization
Individual directors often serve on more than one board. This practice results in an interlocking directorate, where a relatively small number of individuals have significant influence over a large number of important entities. This situation can have important corporate, social, economic, and legal consequences, and has been the subject of significant research.


Though "consultants" may have been the best choice of words, as you see, there are several different meanings of a Director...



Jason Dussault, President and CEO of Dussault Apparel, commented, "I am happy to announce the appointment of Ms. Kim and Ms. Kostakou to our Board. The Company is facing significant challenges; the current year's lackluster revenue, recent changes of policy of the Pension Financial Services regarding the clearing of stocks priced below $0.10 and the new XBRL financial reporting requirement are hurdles the Company must overcome. It is the intent of the Company to form a committee to undertake a comprehensive review evaluating the current business of the Company to determine its viability and the Company's direction. This review is intended to include current operations of the Company, including a review of assets and liabilities, the business operations of the Company, and its trademarks with a view to providing the officers, directors and management of the Company with a report and recommendations. Ms. Kostakou and Ms. Kim will head the committee which will undertake this review, and will be responsible to gather all information from legal, consultants and management and prepare a report with recommendations to the Company. I believe it is in the best interests of the Company and its shareholders The Company may also review new financing opportunities and possible acquisitions to enhance its asset value."


IMO this clearly outlines why they were added to the board of directors... It is also my opinion that their duties are now complete and they have resigned from their positions as a result...