MINUTES of the MEETING of the BOARD OF DIRECTORS of INITIO. INC.
August 24, 2009
A meeting of the Board of Directors of Initio, Inc (the “Company”) was held at the offices of its subsidiary at 350 West Passaic Street, Rochelle Park, NJ. On Monday, August 24th at 11:am
Present in person were Martin Fox, Dan DeStefano, and John Ferraro, constituting all of the members of the board of Directors.
A general discussion then followed regarding the audited statement of the Company for the year ended April 30th 2009. Mr. Fox reported that subsequent to the closing the Company had an increase in the value of its cash and marketable securities.
Mr. DeStefano then stated that the Company should schedule its annual meeting.
Thereafter, upon motion duly made, seconded and unanimously carried it was:
RESOLVED, that the Company held its annual meeting of shareholders on September 28th, 2009 at 350 West Passaic Street Rochelle Park, NJ at 11 am. For the following purposes
(1) to elect 3 directors to serve until the next annual meeting of shareholders, or until their successors have been duly elected and qualified.
(2) To appoint Rogoff and Company an outside auditor for year ended April 2010, and it was further RESOLVED, that the board recommends as nominees each of the present Members of the Board, and it was further RESOLVED, that the officers of the Company take all such action as may be necessary or proper to implement the foregoing.