Gencor Industries Inc. (GENC)

CSIR (< 20) Submitted: 6/08/08 10:58 PM : Start Price: $14.00 GENC Score: -30.86

CEO and one of directors clearly got in a fight and Miller sold his shares at a fast rate (and is just finishing off selling). He had a great deal of shares so this in combination with the drastic drop in earnings have caused too large of a sell off.

# Mr. Lloyd Miller only attended the Board meeting immediately after being elected to the Board on March 6, 2008. At that Board meeting he was elected to the Audit Committee but never attended one of it's meetings and then resigned from the Board on May 7, 2008, and based on recent conversations with management, he did so purely for personal reasons and convenience and maintains a professed high esteem for the company, its management, and its future.
# The resignation of Mr. Miller from the Board left a vacancy in the Audit Committee, which the Board will be moving forward to fill with a qualified independent director well within the period allowed by NASDAQ. Therefore, there is no issue.

A side note he used all of the money gained off GENC sale to purchase transworld entertainment.

GENC has far too much cash and has products that we will need for the foreseeable future.

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