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gnulaw (49.68)

Breaking News:Suzanne Present Files Indemnification Agreement* [After] the Closing Bell [Friday]



November 14, 2008 – Comments (4) | RELATED TICKERS: CBS , GKNT.DL , YHOO

SourceForge (NASDAQ:LNUX)'s largest controlling shareholder via Gladwyne et al, and recently appointed Board Director Suzanne Present files an SEC Form 8-K after the closing bell on Friday November 14th as SourceForge (NASDAQ) plunges another 6.1% to $0.77/share and within $0.04 cash/share (including long-term investments).


Q?: What is Suzanne Present up to?




Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement

Suzanne M. Present Indemnification Agreement

On September 22, 2008, SourceForge, Inc.'s ("Company") Board of Directors ("Board") approved entry into an indemnification agreement between the Company and Suzanne M. Present, following her appointment as director to the Board, effective September 22, 2008. Ms. Present and the Company executed the indemnification agreement on November 14, 2008. The terms of the indemnification agreement are substantially similar to the form of indemnification agreement that the Company previously entered into with certain of its officers and directors. The Company's form of indemnification agreement was filed as Exhibit 10.1 to its Registration Statement on Form S-1, as amended (SEC File No.: 333-88687), and is incorporated herein by reference.

4 Comments – Post Your Own

#1) On November 15, 2008 at 8:15 AM, gnulaw (49.68) wrote:

Successive 52-week lows and no stock repurchase?! something stinks...Robert Neumeister, Patricia Morris, Pat Workman, the Board of Directors are at a tipping point of being hit with multiple alleged Securities violations and mulltimillion dollar Class Action lawsuit.

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#2) On November 15, 2008 at 8:24 AM, gnulaw (49.68) wrote:

Let the discovery process begin:

 Suzanne Present issue of fact:

#1. 2008 Presidential Campaign Contributions


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#3) On November 15, 2008 at 1:21 PM, gnulaw (49.68) wrote:

Having considerable experience in the Securities Industry as a General Securities Principal (Series 24), as a former CEO of a microcomputer software company and controlling shareholder in a NASDAQ high-tech I took public issuing a press release after the closing bell on a Friday is symptomatic of what only the lowest of the low Companies will resort to, generally dominated by high-flying pink-sheet companies and 1980's Denver penny stock brokerage type firms.

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#4) On November 15, 2008 at 2:44 PM, gnulaw (49.68) wrote:

NASDAQ FAQ: My company's bid price has fallen below the minimum requirement. Will we be delisted?

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