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ClearSign Technologies Corp (NASDAQ:CLIR), currently trading at $0.54 and showing a 53% decline over the past six months, announced changes to the composition of its board committees effective June 27, 2025, following recommendations from its Nominating and Corporate Governance Committee. The company, which maintains a strong liquidity position with a current ratio of 5.63, disclosed the updates in a statement released Friday, based on a filing with the Securities and Exchange Commission.According to InvestingPro analysis, the company currently holds more cash than debt on its balance sheet, though it faces challenges with cash burn rates.
In the Audit and Risk Committee, Catharine M. de Lacy resigned as a member. G. Todd Silva and Louis J. Basenese were appointed to the committee, joining Judith S. Schrecker, who serves as chairperson, and David M. Maley. According to the filing, Maley will remain a member of the committee until the end of his term, which concludes immediately after the company’s 2025 annual meeting of stockholders.
The Human Capital and Compensation Committee also saw changes. Basenese was named chairperson of the committee, which now includes Maley, de Lacy, and Schrecker. Maley will continue as a member until the end of his term following the 2025 annual meeting.
For the Nominating and Corporate Governance Committee, Silva was appointed as a new member. The committee now consists of de Lacy as chairperson, Maley, Schrecker, and Silva. Maley is set to serve until his term ends after the 2025 annual meeting.
ClearSign Technologies Corp is incorporated in Delaware and is listed on the Nasdaq Stock Market under the symbol CLIR.
All information in this article is based on a press release statement and a filing with the Securities and Exchange Commission.
In other recent news, ClearSign Combustion Corporation reported a substantial drop in revenue for the first quarter of 2025, with figures falling to $400,000 from $1,100,000 in the same period the previous year. The company also experienced an increase in net loss by approximately $1,000,000, attributed to reduced process burner shipments and significant legal expenses. Despite these financial challenges, ClearSign’s stock saw a notable rise, suggesting investor confidence in the company’s strategic initiatives and technological advancements. ClearSign is focusing on several key projects, including the installation of process burners at refineries in Los Angeles and the Gulf Coast, as well as the expansion of its midstream product channel. The company has also reported a significant increase in proposal pipeline value compared to last year, indicating growing interest in its low NOx emission solutions. CEO Jim Deller highlighted ClearSign’s competitive advantage in offering cost-effective alternatives to traditional SCR systems. Additionally, the company is working closely with its sales partner, Zico, to enhance its market reach. These developments reflect ClearSign’s efforts to position itself as a leader in emission reduction technologies.
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