AURA SYSTEMS, INC. (OTCMKTS:AUSI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
On March 28, 2018, Aura Systems, Inc., a Delaware corporation (the “Company”), terminated the employment of Melvin Gagerman, the Company’s Chief Executive Officer and Acting Chief Financial Officer, for cause, effective immediately.
About AURA SYSTEMS, INC. (OTCMKTS:AUSI)
Aura Systems, Inc. (Aura) designs, assembles, tests and sells its Axial Flux induction machine (AF) known as the AuraGen for industrial and commercial applications and VIPER for military applications. The Company’s system when applied as a generator uses the engine of a vehicle or any other prime mover to create mechanical energy and the AuraGen converts the mechanical energy to electric power. Its control system is used to deliver such power to the user. When used as an electric motor, its system delivers mechanical power to drive mechanical devices. The Company focuses on mobile power applications and thus the Company requires interface kits to prime movers. In addition the Company has interface kits for numerous model of military HMMWV, as well as other military vehicles. The Company is also working with a number of customers on integrating its AuraGen/VIPER power solution with stand alone engines knows as Auxiliary-Power-Unit (APU) to be used in emergency rescue.
