Business Context and Reporting Period
This Form 8-K Current Report was filed by Retractable Technologies, Inc. on March 21, 2005, covering events that occurred on March 15, 2005. The company is incorporated in Texas and is headquartered in Little Elm, Texas.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes and does not contain financial performance data.
Material Changes
The primary material change reported is the election of new directors and the reorganization of board committees:
- Director Elections: Jimmie Shiu, M.D., and Patti King were elected as Class 1 Directors to fill vacancies. Their terms will last until the annual meeting on September 16, 2005.
- Committee Appointments:
- Audit Committee: Clarence Zierhut, Marwan Saker, and John J. McDonald, Jr. were re-appointed. John J. McDonald, Jr. was re-designated as the financial expert.
- Nominating Committee: Jimmie Shiu, M.D., Marwan Saker, and Patti King were appointed.
- Compensation and Benefits Committee: Clarence Zierhut, John J. McDonald, Jr., and Patti King were appointed.
- Disclosure Representative: Patti King was appointed as the Company's Disclosure Representative.
Guidance, Outlook, and Risks
The filing text does not provide a clear value for guidance, outlook, management commentary on operations, risks, contingencies, or unusual items. The report states there are no arrangements or understandings between the new directors and any other person regarding their selection.
Key Facts for Investor Verification
- Verify the biographies and qualifications of the newly elected directors, Jimmie Shiu, M.D., and Patti King.
- Confirm the composition of the Audit Committee and the specific designation of John J. McDonald, Jr. as the financial expert.
- Note the upcoming annual meeting date of September 16, 2005, for the re-election of Class 1 Directors.
- Identify Patti King's dual role as a new director and the appointed Disclosure Representative.