Brief: Ability announces resignation of five board members

Ability

11/04/2017 13:50

April 11 (Reuters) - Ability Inc  ABIL.O  
    * Ability inc. Announces resignation of five board members; 
controlling shareholders reiterate their commitment to the 
company 
    * Ability inc - company is in process of identifying 
replacement board members. 
    * Ability inc - will continue to evaluate company's 
financial position to determine whether additional funding 
sources are necessary 
    * Ability inc -  current cash position, including having 
over $8 million of cash, cash equivalents, should be adequate to 
meet co's near future cash needs 
    * Ability-To continue to evaluate if additional funding, 
including through contribution by co-founder alexander aurovsky, 
ceo anatoly hurgin are necessary 
    * Ability inc - ceo anatoly hurgin & co-founder alexander 
aurovsky have agreed to reduce salaries by 50%,& are exploring 
additional cost-saving measures 
 
Source text for Eikon:  ID:nPn4jMTv2a  
Further company coverage:  ABIL.O  
 
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