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BRIEF-Ability announces resignation of five board members
April 11, 2017 / 1:06 PM / 8 months ago

BRIEF-Ability announces resignation of five board members

April 11 (Reuters) - Ability Inc

* 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: Further company coverage:

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