Business
American Power Group Corporation's Letter to Shareholders
American Power Group Corporation's Letter to Shareholders.
About this update from American Power Group Corp.
[{"type":"text","content":"\n \n \n American Power Group Corporation's Letter to Shareholders\n \n \nAmerican Power Group Corporation's Letter to Shareholders\n\nAnnual Shareholders' Meeting Date Set for May 13, 2016\n\n \n LYNNFIELD, MA--(Marketwired - Apr 26, 2016) -  American Power Group Corporation (OTCQB: APGI) today announced that its Annual Shareholder's meeting will be held on Friday, May 13, 2016 at 9:00 A.M. at the offices of Morse, Barnes-Brown & Pendleton, P.C. City Point, 230 Third Avenue, 4th Floor, Waltham, MA 02451 for the following purposes: (1) to consider and act upon a proposal to elect four directors for the ensuing year; (2) to approve an amendment to the Restated Certificate of Incorporation to increase the number of authorized shares of Common Stock from 200,000,000 to 350,000,000; (3) to approve, consider and act upon a proposal to approve the adoption of the 2016 Stock Option Plan; (4) to hold an advisory vote on the compensation of the Company's named executive officers (the \"say-on-pay\") and (5) to consider and act upon a proposal to ratify the selection of the firm of Schechter, Dokken, Kanter, Andrews & Selcer, Ltd. as our independent auditors for the fiscal year ending September 30, 2016. In conjunction with the mailing of the proxy statement for the Annual Meeting and the Annual Report for the fiscal year ended September 30, 2016, the following letter to the shareholders of American Power Group Corporation was included.\n MESSAGE TO OUR SHAREHOLDERS\n To Our Shareholders:\n As I believe everyone can appreciate, we are living in a much different world than we were a year ago or even three months ago. The one constant during these turbulent times has been the reliability and durability of our industry leading dual fuel solution and growing market recognition that we have the best dual fuel conversion technology at the lowest total cost of ownership available in the market. We estimate our customers have driven over 100 million cumulative dual fuel miles thus far. While we cannot control the macro variables associated with low priced oil that are impacting all alternative fuel companies today, we can control how we deploy our resources during this time. Accordingly, we have had to modify our approach in several areas in response to the ever-changing economic and competitive landscape we live in. \n As ...