Board Meeting Minutes

NEW WAVE CORPORATION/KOPN BOARD OF DIRECTORS MEETING

MARCH 20, 2007, 7:00PM

MINUTES – TAKEN BY MIKE HAGAN

BOARD MEMBERS PRESENT AT MEETING WERE MIKE HAGAN, RYAN KIND, DERRICK CHIEVOUS, JENNY CZYZEWSKI, KYLE COOK, RICH WINKEL.

STAFF PERSONNEL DAVID OWENS, JULIE BAKA AND JOHN CLARK WERE ALSO PRESENT

MEETING MINUTES

7:00PM
THE ANNUAL AUDIT REPORT WAS PRESENTED BY JOAN CASEY OF CASEY AND COMPANY, LLC. THE AUDIT WENT WELL AND ONLY MINOR ISSUES EXIST THAT WILL BE ADDRESSED AS WE MOVE FORWARD. NOTHING EXTRAORDINARY CAME UP AND IN GENERAL, THE AUDITOR WAS PLEASED.

7:20
AFTER JOAN LEFT, WE ALL INTRODUCED OURSELVES, AS THERE WERE SOME NEW BOARD MEMBERS PRESENT FOR THE FIRST TIME.

7:25
REVIEW OF BOARD MEMBER CONTACT INFORMATION. INFORMATION WAS CORRECT FOR ALL PRESENT. CONTACT DAVID OWENS WITH ANY NECESSARY CHANGES.

7:30
DISCUSSION OF BUDGET. WE HAVE ONEÖYIPPEE. JOHN DESCRIBES CHARTS, FINANCIAL REPORTS. IN GENERAL, THERE IS A CONSENSUS AMONG THE BOARD THAT FINANCIAL REPORTING HAS IMPROVED SIGNIFICANTLY OVER THE LAST 12 MONTHS.

DISCUSSION OF BANK ACCOUNTS. CHANGES SUGGESTED TO ADD COSIGNERS OF CHECKS. AT THE TIME OF THE MEETING, AUTHORIZED CHECK SIGNERS WERE DAVID OWENS, ELLEN SCHLIE, RICH WINKEL AND AARON KRAWITZ. A MOTION WAS INTRODUCED BY JENNY TO REMOVE AARON FROM THE LIST, AS HE HAD SINCE RESIGNED, AND ADD MIKE HAGAN AND RYAN KIND AS COSIGNERS ON THE MAIN CHECKING ACCOUNT AND THE MONEY MARKET ACCOUNT. KYLE SECONDED THE MOTION AND IT WAS PASSED UNANIMOUSLY.

7:50
RAGTIME DISCUSSION. $260 IN RAGTIME ACCOUNT. JOHN CLARK SUGGESTS WE CLOSE THE ACCOUNT AND MOVE THE MONEY INTO THE MAIN CHECKING ACCOUNT. RYAN MOTIONED THAT WE CLOSE SAID ACCOUNT, KYLE SECONDED AND THE MOTION WAS APPROVED UNANIMOUSLY.

LUCILLE HAS LEFT KOPN AND IS DOING THE RAGTIME FESTIVAL ON HER OWN, WITHOUT PARTICIPATION FROM KOPN. WE WILL STILL PROMOTE THE FESTIVAL BY READING PSAíS ETC.

A LETTER WAS SUGGESTED TO BE WRITTEN TO THE PAPERS THANKING LUCILLE FOR HER YEARS OF SERVICE TO KOPN AND FOR THE RAGTIME FESTIVAL. WISH HER WELL. CUT THE CORD.

THERE IS A GRANT THAT IS ASSOCIATED WITH RAGTIME THAT WE NORMALLY GET EVERY YEAR FROM THE CITY CONVENTIONS AND VISITORS BUREAU. KYLE MOTIONED THAT DAVID DECLINE THIS GRANT MONEY THIS YEAR. RYAN SECONDED AND THE MOTION WAS APPROVED UNANIMOUSLY.

8:20
JULIE BAKA UPDATES ON FUND DRIVE.
$40,000 + WAS RAISED DURING THE RECENT FUND DRIVE IN FEBRUARY. WE MAY STILL REQUIRE ONE MORE SMALL FUND DRIVE IN MAY. DISCUSSED SOME NEW IDEAS FOR FUND RAISING. EVERYONE IS IN AGREEMENT THAT WE NEED TO DEVELOP MORE CREATIVE WAYS TO RAISE MONEY AND THAT THIS IS ONE OF THE PRIMARY BOARD RESPONSIBILITIES.

5/4/07 KOPN BENEFIT AT THE BLUE FUGUE

CALENDAR??? KOPN MUSIC CD?

8:35
DISCUSSION OF TRANSMITTER STATUS. DAVID AND RICH BROUGHT US UP TO SPEED ON THE TRANSMITTER PROJECT. WE STILL EXPECT TO BE UP AND RUNNING BY APRIL 1ST. WINTER WEATHER SLOWED A LOT OF THINGS DOWN AT THE TOWER SITE BUT THINGS ARE MOVING FORWARD.

8:45
BOARD RECRUITMENT. WE ARE CURRENTLY HAPPY WITH THE MAKE-UP OF THE BOARD BUT ALL MEMBERS WILL BE ALWAYS BE CONSIDERING NEW FOLKS FOR POSITIONS ON THE BOARD. WE CURRENTLY HAVE 11 MEMBERS.

8:50
ARTICLES OF INCORPORATION SHOULD BE REVIEWED AS SHOULD THE BYLAWS. NO ACTION WAS UNDERTAKEN, ONLY DISCUSSION THAT THIS NEEDS TO BE DONE IN THE FUTURE.

8:55
SHORT DISCUSSION ABOUT COMMITTEES. WE WILL DISCUSS MORE NEXT MEETING.

9:00PM
MEETING ADJOURNED