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EX-99.1 - PRESS RELEASE DATED FEBRUARY 23, 2010 - ENTECH SOLAR, INC. | pressrelease.htm |
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported):
February
18, 2010
ENTECH SOLAR,
INC.
(Exact
Name of Registrant as specified in charter)
Delaware
0-16936 33-0123045
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(State or
other jurisdiction of
incorporation) (Commission File
Number) (IRS
Employer Identification No.)
13301
Park Vista Boulevard, Suite 100, Fort Worth,
Texas
76177
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(Address of
principal executive offices) (Zip
Code)
Registrant's
telephone number, including area code: 817/
224-3600
N/A
(Former
name or former address, if changed since last report.)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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(__) Written communications pursuant to
Rule 425 under the Securities Act (17 CFR
230.425)
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(__) Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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(__) Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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(__) Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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ITEM 5.02
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DEPARTURE
OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF
CERTAIN OFFICERS;
COMPENSATORY ARRANGMENTS OF CERTAIN
OFFICERS.
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On February 18, 2010, The Quercus
Trust, as the sole stockholder of Series D Convertible Preferred Stock of Entech
Solar, Inc. (the “Company”) elected and appointed Lawrence Kaufman to the Board
of Directors (the “Board”) of the Company. Dr. Kaufman will serve as
a “Preferred Stock Director” as provided for in the Company’s Certificate of
Designations, Preferences and Rights of Series D Convertible Preferred
Stock. In addition to serving as a member of the Board, the Board has
appointed Dr. Kaufman (Chair), along with David Field, as members of the Audit
Committee of the Board. In connection with Dr. Kaufman’s and Mr.
Field’s appointment to the Audit Committee, and due to his new role as Chief
Executive Officer of the Company, David Gelbaum has resigned from his position
as a member of the Audit Committee of the Board. Mr. Gelbaum will
continue to maintain his position as Chairman of the Board.
Dr. Kaufman is currently President
& CEO and director of Lightwave Power, Inc., a partner in The Pinnacle
Acquisition Group, and a director of Sionex Corporation and Memsic, Inc. He
holds a B.S. degree from Rensselaer Polytechnic Institute and a Ph.D. degree in
Physics from Tufts University. Dr. Kaufman also holds an Executive
Development Certification from Yale University and a Professional Director
Certification awarded by the Corporate Directors Group.
Dr. Kaufman is not a party to any
transaction requiring disclosure pursuant to Item 404(a) of
Regulation S-K. Dr. Kaufman will receive the Company’s
standard director compensation, including payments for attendance at Board and
committee meetings.
ITEM
9.01 Financial Statements and Exhibits.
Exhibits.
Exhibit
Number
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Description
of Exhibit
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99.1
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Entech
Solar, Inc. press release.
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
ENTECH
SOLAR, INC.
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By:
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/s/
Sandra J. Martin
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Chief
Financial Officer
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Dated:
February 23, 2010
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Exhibits.
Exhibit
Number
|
Description
of Exhibit
|
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99.1
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Entech
Solar, Inc. press release.
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