Rather than go back and forth, I suggest we await the SEC decision on the No-Action request.

My stance on Rule 14a-11 remains unchanged, I was offering two scenarios for consideration.

There are many changes that can be made to a company's by-laws, and there is much ongoing discussion as to how amendments are able to reflect the impact of Rule 14a-11, director qualifications and or experience being examples.

Only actions will change the reality of the situation, not discussions, and in the meantime we await further information from the SEC.

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Be well