George Christopoulos

June 18, 2009 12:01 ET

AirIQ Inc. 10% Insider Announces Additional Voting Intentions for AGM

TORONTO, ONTARIO--(Marketwire - June 18, 2009) -

In addition to voting FOR the Shareholder Proposal to add George Christopoulos as a Director of AirIQ Inc., George Christopoulos will WITHHOLD on the appointment of Ernst & Young LLP.

Christopoulos would prefer to have the audit go to bid, to minimize expenses. Also, according to David Simmonds' book, E&Y has been providing services to Lenbrook Corp. (or predecessors) since about 1979. Christopoulos personally believes it is preferable for the auditor not to have such relationship with Lenbrook.

A press release dated June 8, 2009 provides Christopoulos' reasons for voting FOR the Shareholder Proposal. It refers to AirIQ Inc.'s balance sheet deficit, now about $96.5m, or 60c per share. The share price of about 1.5c may indicate that the board does NOT have the "proper 'mix' of skills, expertise and experience...(to) create value".

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  • George Christopoulos