Corporate Board Profile
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| Filing Date | Source Excerpt |
|---|---|
| 2015-04-30 | Vern D. Kornelsen is a Director of the Corporation. Age: 82. Director Compensation Table shows Vern Kornelsen total compensation $632. |
| 2017-04-28 | Mr. Kornelsen is the General Partner of EDCO Partners LLLP. Mr. Kornelsen currently serves as the Companys Secretary. |
| 2018-04-19 | Vern D. Kornelsen: Mr. Kornelsen is the General Partner of EDCO Partners LLLP. Mr. Kornelsen formerly practiced as a certified public accountant in Denver, CO for many years and is a financial consultant to several early stage companies. He was a director of Valleylab for 10 years, and led an investor group that provided a portion of its initial funding. Age: 85. Director Compensation: $1,200. |
| 2019-05-02 | VERN D. KORNELSEN: Mr. Kornelsen is the General Partner of EDCO Partners LLLP. Mr. Kornelsen formerly practiced as a certified public accountant in Denver, Colorado for many years and is a financial consultant to several early stage companies. He was a director of Valleylab for 10 years, and led an investor group that provided a portion of its initial funding. Mr. Kornelsen has been a director and participated in the capitalizing of a number of early stage companies, and is currently a director and audit-committee member of a publicly-held company, Encision Inc. of Boulder, Colorado. He is also the Chairman, Secretary, Director, and CFO of Lifeloc Technologies, Inc., a publicly-held company located in Wheat Ridge, Colorado. Mr. Kornelsen currently serves as the Company’s Secretary. Age: 86. Director Since: 2014. Director Compensation Table shows $1,350 for fees earned or paid in cash. Audit Committee membership is mentioned. |
| 2020-04-27 | VERN D. KORNELSEN: Mr. Kornelsen is the General Partner of EDCO Partners LLLP. Mr. Kornelsen formerly practiced as a certified public accountant in Denver, Colorado for many years and is a financial consultant to several early stage companies. He was a director of Valleylab for 10 years and led an investor group that provided a portion of its initial funding. Mr. Kornelsen has been a director and participated in the capitalizing of a number of early stage companies, and is currently a director and audit-committee member of a publicly-held company, Encision Inc. of Boulder, Colorado. He is also the Chairman, Secretary, Director, and CFO of Lifeloc Technologies, Inc., a publicly held company located in Wheat Ridge, Colorado. Mr. Kornelsen currently serves as the Company’s Secretary. Age: 87 |
| 2021-04-26 | VERN D. KORNELSEN: Mr. Kornelsen is the General Partner of EDCO Partners LLLP. ... Age: 88 ... Director Compensation ... Vern D. Kornelsen ... $1,500 ... |
| 2022-04-22 | VERN D. KORNELSEN: Mr. Kornelsen is the General Partner of EDCO Partners LLLP. ... Age: 89 ... Mr. Kornelsen currently serves as the Company’s Secretary. Director Compensation Table shows $1,500 compensation. |
| 2023-05-31 | Mr. Kornelsen currently serves as the Company’s Secretary. He is also the Chairman, Secretary, Director, and CFO of Lifeloc Technologies, Inc., a publicly held company located in Wheat Ridge, Colorado. The Audit Committee of the Board of Directors as of December 31, 2022 is comprised of Don Siecke (Chairman) and Thomas Schafer. It operates under a written charter adopted by the Board, a copy of which is included in the proxy statement as Appendix I. The Audit Committee met on four occasions in 2022. The Board of Directors has determined that Mr. Siecke is an “audit committee financial expert” as defined in Item 407(d)(5) of Regulation S-K promulgated by the SEC. The Board’s conclusions regarding the qualifications of Mr. Siecke as an audit committee financial expert were based on his experience as a certified public accountant and his degree in accounting. The Board of Directors voted for remuneration of $375 per quarter to be paid in arears for their acting in such capacity, effective April 1, 2018. |
| 2024-06-07 | Vern D. Kornelsen: Mr. Kornelsen is the General Partner of EDCO Partners LLLP. ... He is also the Chairman, Secretary, Director, and CFO of Lifeloc Technologies, Inc., a publicly held company located in Wheat Ridge, Colorado. Mr. Kornelsen currently serves as the Company’s Secretary. ... Director Compensation for the fiscal year ended December 31, 2023 is provided in the following Table: Vern D. Kornelsen $1,500 total compensation. |
| Filing Date | Source Excerpt |
|---|---|
| 2001-08-06 | Vern D. Kornelsen (1,2) 68 Director (1) Member of the Audit Committee (2) Member of the Compensation Committee VERN D. KORNELSEN, a co-founder of the Company, served on the Board of Directors of the Company and as the Chief Financial Officer from 1991 through February of 1997. He was re- elected to the Board in April 1998. Mr. Kornelsen is the General Partner of CMED Partners LLLP, a major shareholder of the Company. Mr. Kornelsen is a retired CPA, having practiced as a certified public accountant in the state of Colorado for many years. For the past 5 years, he has been active in managing 2 investment partnerships, of which he is the general partner, as well as serving as an officer and director of several private companies of which he is the controlling stockholder. Mr. Kornelsen holds a bachelor's degree in business from the University of Kansas. The Board of Directors has an Audit Committee and a Compensation Committee. |
| 2002-06-25 | Vern D. Kornelsen(1,2) 69 Director (1) Member of the Audit Committee (2) Member of the Compensation Committee Outside Directors are reimbursed for their out-of-pocket expenses for attending Board meetings. |
| 2003-06-26 | Vern D. Kornelsen(1,2) 70 Director (1) Member of the Audit Committee (2) Member of the Compensation Committee Vern D. Kornelsen, a co-founder of the Company, served on the Board of Directors of the Company and as the Chief Financial Officer from 1991 through February of 1997. He was re-elected to the Board in April 1998. Mr. Kornelsen is the General Partner of CMED Partners LLLP, a major shareholder of the Company. Mr. Kornelsen is a retired CPA, having practiced as a certified public accountant in the state of Colorado for many years. |
| 2004-07-23 | The Company's outside Directors receive $1,000 per month for their services and are reimbursed for their out-of-pocket expenses incurred in connection with their directorship. |
| 2006-07-12 | The following table sets forth the members of our board of directors, their ages as of March 31, 2006, and their positions and offices held: Vern D. Kornelsen(1)(2) 73 Director (1) Member of the Compensation Committee (2) Member of the Nominating Committee Our outside directors receive $12,000 a year for their services and are reimbursed for their out-of-pocket expenses incurred in connection with their directorship. |
| 2007-06-29 | The following table sets forth the members of our board of directors, their ages as of March 31, 2007, and their positions and offices held: Vern D. Kornelsen(2) 74 Director (2)Member of the Nominating Committee |
| 2008-06-30 | Vern D. Kornelsen (2) 75 Director (1)Member of the Compensation Committee (2)Member of the Nominating Committee (3)Member of the Audit Committee Vern D. Kornelsen, is one of our co-founders and served on our board of directors and as our Chief Financial Officer from 1991 through February 1997. He was re-elected to the board of directors in April 1998. Mr. Kornelsen is the General Partner of CMED Partners LLLP, one our principal shareholders. Mr. Kornelsen formerly practiced as a certified public accountant in the state of Colorado for many years. For the past eight years, he has been active in managing two investment partnerships, of which he is the general partner, as well as serving as an officer and director of several private companies of which he is the controlling stockholder. Mr. Kornelsen received a Bachelor of Science degree in business from the University of Kansas. Our outside directors receive $1,000 a month for their services and are reimbursed for their out-of-pocket expenses incurred in connection with their directorship. Directors who serve on the audit committee receive an additional $500 a month for their services. Option grants to our directors are made at the discretion of the board of directors. The following table details the total compensation earned by our directors in fiscal year 2008. Director Compensation Name Fees Paid in Cash ($) (1) Option Awards ($) All Other Compensation ($) Total ($) Vern D. Kornelsen 12,000 429 6 12,429 (1) The following table provides a breakdown of fees paid in cash. Name Annual Retainers ($) Audit Committee Member Fees ($) Total ($) Vern D. Kornelsen 12,000 6 12,000 (2) Compensation for financial and tax consulting services provided to the Company. David W. Newton serves as an executive officer of the Company and does not receive any additional compensation for his service as a director. |
| 2009-06-29 | Vern D. Kornelsen (1) (2) (3) 76 Director (1) Member of the Compensation Committee (2) Member of the Nominating Committee (3) Member of the Audit Committee Currently, and except for Vern D. Kornelsen who elected not to receive his compensation for audit committee service, directors who serve on the audit committee receive an additional $750 a month for their services. The following table details the total compensation earned by our non-employee directors in fiscal year 2009. Vern D. Kornelsen Fees paid in cash $14,250, Option awards $2,957, Total $17,207. |
| 2010-07-01 | Vern D. Kornelsen (1) (2) (3) 77 Director (1) Member of the Compensation Committee (2) Member of the Nominating Committee (3) Member of the Audit Committee ... Currently, our outside directors receive $1,250 a month ... Except for Vern D. Kornelsen who elected not to receive his compensation for audit committee service ... Director Compensation ... Vern D. Kornelsen Fees paid in cash $15,000 Total $15,000 |
| 2011-07-01 | Vern D. Kornelsen (1) (2) (3) 78 Director (1) Member of the Compensation Committee (2) Member of the Nominating Committee (3) Member of the Audit Committee |
| 2012-07-06 | The following table sets forth the members of our board of directors, their ages as of March 31, 2012, and their positions and offices held: Vern D. Kornelsen (1)(2)(3) 79 Director. (1)Member of the Compensation Committee (2)Member of the Nominating Committee (3)Member of the Audit Committee. The following table details the total compensation earned by our non-employee directors in fiscal year 2012. Vern D. Kornelsen Fees paid in cash $11,937.50, Option awards $0, All other compensation $0, Total $11,937.50. |
| 2013-07-10 | Vern D. Kornelsen is one of our co-founders and served on our board of directors and as our Chief Financial Officer from 1991 through February 1997. He was re-elected to the board of directors in April 1998. Mr. Kornelsen is the General Partner of CMED Partners LLLP, one our principal shareholders. Mr. Kornelsen formerly practiced as a certified public accountant in the state of Colorado for many years. He has been active in managing two investment partnerships, the first since 1990 and the second since 1997, of which he is the general partner, as well as serving as an officer and director of several private companies and of one public company, Lifeloc Technologies, Inc., of which he is the controlling stockholder. Mr. Kornelsen received a Bachelor of Science degree in business from the University of Kansas. We believe Mr. Kornelsen is qualified to serve on our board of directors based on his executive experience with several private companies and his financial and accounting expertise as described above. Our outside directors receive $1,250 a quarter for their services and are reimbursed for their out-of-pocket expenses incurred in connection with their service as directors. Option grants to our directors are at the discretion of the board of directors. The following table details the total compensation earned by our non-employee directors in fiscal year 2013. Director Compensation: Vern D. Kornelsen Fees paid in cash ($) 5,000.00 Option awards ($) ― All other compensation ($) ― Total ($) 5,000.00 |
| 2014-07-11 | Vern D. Kornelsen (1) (2) (3) 81 Director (1)Member of the Compensation Committee (2)Member of the Nominating Committee (3)Member of the Audit Committee ... The following table details the total compensation earned by our non-employee directors in fiscal year 2014. ... Vern D. Kornelsen 5,000.00 10,982.00 — 15,982.00 ... The nominating committee members are Robert H. Fries, Vern D. Kornelsen and Patrick W. Pace, M.D. ... The members of the compensation committee are Vern D. Kornelsen, Robert H. Fries and Ruediger Naumann-Etienne. ... Vern D. Kornelsen and Ruediger Naumann-Etienne comprise the audit committee. |
| 2015-07-30 | Vern D. Kornelsen is one of our co-founders and served on our board of directors and as our Chief Financial Officer from 1991 through February 1997. He was re-elected to the board of directors in April 1998. Mr. Kornelsen is the General Partner of CMED Partners LLLP, one our principal shareholders. Mr. Kornelsen formerly practiced as a certified public accountant in the state of Colorado for many years. He has been active in managing two investment partnerships, the first since 1990 and the second since 1997, of which he is the general partner, as well as serving as an officer and director of several private companies and of two public companies, Lifeloc Technologies, Inc., of which he is the controlling stockholder, and Electronic Systems Technology, Inc. Mr. Kornelsen received a Bachelor of Science degree in business from the University of Kansas. We believe Mr. Kornelsen is qualified to serve on our board of directors based on his executive experience with several private companies and his financial and accounting expertise as described above. He is a member of the Compensation Committee, Nominating Committee, and Audit Committee. He received total compensation of $13,002 in fiscal year 2015. |
| 2016-07-08 | Vern D. Kornelsen is one of our co-founders and served on our board of directors and as our Chief Financial Officer from 1991 through February 1997. He was re-elected to the board of directors in April 1998. Mr. Kornelsen is the General Partner of CMED Partners LLLP, one our principal shareholders. Mr. Kornelsen formerly practiced as a certified public accountant in the state of Colorado for many years. He has been active in managing two investment partnerships, the first since 1990 and the second since 1997, of which he is the general partner, as well as serving as an officer and director of several private companies and of two public companies, Lifeloc Technologies, Inc., of which he is the controlling stockholder, and Electronic Systems Technology, Inc. Mr. Kornelsen received a Bachelor of Science degree in business from the University of Kansas. We believe Mr. Kornelsen is qualified to serve on our board of directors based on his executive experience with several private companies and his financial and accounting expertise as described above. (1)Member of the Compensation Committee. (2)Member of the Nominating Committee. (3)Member of the Audit Committee. Our independent directors currently receive $1,250 a quarter for their services and are reimbursed for their out-of-pocket expenses incurred in connection with their service as directors. Option or equity grants to our directors are at the discretion of the board of directors. The following table details the total compensation earned by our non-employee directors in fiscal year 2016. Vern D. Kornelsen: Fees paid in cash $6,250, Equity compensation $3,071, All other compensation $0, Total $9,321. |
| 2017-07-11 | Vern D. Kornelsen 84 Director (1)Member of the Compensation Committee. (2)Member of the Nominating Committee. (3)Member of the Audit Committee. Our independent directors currently receive $1,250 a quarter for their services and are reimbursed for their out-of-pocket expenses incurred in connection with their service as directors. Option or equity grants to our directors are at the discretion of the board of directors. Director Compensation table shows Vern D. Kornelsen total compensation as $7,003. |
| 2018-06-11 | Vern D. Kornelsen 85 Director (1)Member of the Compensation Committee. (2)Member of the Nominating Committee. (3)Member of the Audit Committee. Our independent directors currently receive $1,250 a quarter for their services... The following table details the total compensation earned by our non-employee directors in fiscal year 2018. Vern D. Kornelsen Fees paid in cash $5,000 Equity compensation $3,325 Total $8,325. |
| 2019-06-21 | Vern D. Kornelsen is one of our co-founders and served on our board of directors and as our Chief Financial Officer from 1991 through February 1997. He was re-elected to the board of directors in April 1998. Mr. Kornelsen is the General Partner of CMED Partners LLLP, one our principal shareholders. Mr. Kornelsen formerly practiced as a certified public accountant in the state of Colorado for many years. He has been active in managing two investment partnerships, the first since 1990 and the second since 1997, of which he is the general partner, as well as serving as an officer and director of several private companies and of two public companies, Lifeloc Technologies, Inc., of which he is the controlling stockholder, and Electronic Systems Technology, Inc. Mr. Kornelsen received a Bachelor of Science degree in business from the University of Kansas. We believe Mr. Kornelsen is qualified to serve on our board of directors based on his executive experience with several private companies and his financial and accounting expertise as described above. Our independent directors currently receive $1,250 a quarter for their services and are reimbursed for their out-of-pocket expenses incurred in connection with their service as directors. Option or equity grants to our directors are at the discretion of the board of directors. The following table details the total compensation earned by our non-employee directors in fiscal year 2019. Vern D. Kornelsen: Fees paid in cash $5,000, Stock awards $0, Option awards $5,312, All other compensation $0, Total $10,132. He is a member of the Compensation Committee, Nominating Committee, and Audit Committee. |
| 2020-06-30 | Vern D. Kornelsen is one of our co-founders and served on our board of directors and as our Chief Financial Officer from 1991 through February 1997. He was re-elected to the board of directors in April 1998. Mr. Kornelsen is the General Partner of CMED Partners LLLP, one our principal shareholders. Mr. Kornelsen formerly practiced as a certified public accountant in the state of Colorado for many years. He has been active in managing two investment partnerships, the first since 1990 and the second since 1997, of which he is the general partner, as well as serving as an officer and director of several private companies and of two public companies, Lifeloc Technologies, Inc., of which he is the controlling stockholder, and Electronic Systems Technology, Inc. Mr. Kornelsen received a Bachelor of Science degree in business from the University of Kansas. We believe Mr. Kornelsen is qualified to serve on our board of directors based on his executive experience with several private companies and his financial and accounting expertise as described above. (1) Member of the Compensation Committee. (2) Member of the Nominating Committee. (3) Member of the Audit Committee. Our independent directors receive $1,250 a quarter for their services and are reimbursed for their out-of-pocket expenses incurred in connection with their service as directors. Option or equity grants to our directors are at the discretion of the board of directors. The following table details the total compensation earned by our non-employee directors in fiscal year 2020. Director Compensation: Vern D. Kornelsen Fees paid in cash $5,000, Equity compensation $5,220, Total $10,220. |
| 2021-06-30 | Vern D. Kornelsen is one of our co-founders and served on our board of directors and as our Chief Financial Officer from 1991 through February 1997. He was re-elected to the board of directors in April 1998. Mr. Kornelsen is the General Partner of CMED Partners LLLP, one our principal shareholders. Mr. Kornelsen formerly practiced as a certified public accountant in the state of Colorado for many years. He has been active in managing two investment partnerships, the first since 1990 and the second since 1997, of which he is the general partner, as well as serving as an officer and director of several private companies and of two public companies, Lifeloc Technologies, Inc., of which he is the controlling stockholder, and Electronic Systems Technology, Inc. Mr. Kornelsen received a Bachelor of Science degree in business from the University of Kansas. We believe Mr. Kornelsen is qualified to serve on our board of directors based on his executive experience with several private companies and his financial and accounting expertise as described above. Compensation: Our independent directors receive $1,250 a quarter for their services and are reimbursed for their out-of-pocket expenses incurred in connection with their service as directors. Option or equity grants to our directors are at the discretion of the board of directors. The following table details the total compensation earned by our non-employee directors in fiscal year 2021. Director Compensation: Vern D. Kornelsen Fees paid in cash $5,000, Equity compensation $3,369, Total $8,369. |
| 2022-07-08 | The following table sets forth the members of our board of directors, their ages as of March 31, 2022, and their positions and offices held: Vern D. Kornelsen 89 Director. (1) Member of the Compensation Committee. (2) Member of the Nominating Committee. (3) Member of the Audit Committee. Our independent directors receive $1,250 a quarter for their services and are reimbursed for their out-of-pocket expenses incurred in connection with their service as directors. Option or equity grants to our directors are at the discretion of the board of directors. The following table details the total compensation earned by our non-employee directors in fiscal year 2021. Director Compensation: Vern D. Kornelsen Fees paid in cash $5,000, Equity compensation $19,944, Total $24,944. |
| 2023-07-05 | Vern D. Kornelsen (1) (2) (3) 90 Director (1) Member of the Compensation Committee. (2) Member of the Nominating Committee. (3) Member of the Audit Committee. Our independent directors receive $1,250 a quarter for their services and are reimbursed for their out-of-pocket expenses incurred in connection with their service as directors. The following table details the total compensation earned by our non-employee directors in fiscal year 2023. Director Compensation Name Fees paid in cash ($) (1) Equity compensation ($) (2) All other compensation ($) Total ($) Vern D. Kornelsen 5,000 3,773 ― 8,773 (1) The following table provides a breakdown of fees paid in cash. Name Annual retainers ($) Vern D. Kornelsen 5,000 |
| 2024-06-27 | The following table details the total compensation earned by our non-employee directors in fiscal year 2024. Director Compensation Name Fees paid in cash ($) (1) Equity compensation ($) (2) All other compensation ($) Total ($) Vern D. Kornelsen 5,000 6,742 — 11,742 (1) The following table provides a breakdown of fees paid in cash. (2) Amounts reflect the aggregate grant date fair values of stock options and restricted stock units (“RSUs"). |
Data sourced from SEC filings. Last updated: 2026-02-03