-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, WK/veavJEIH8xO2UnQPSvpJ14DajHwB5NQuoGMEk98Xy+oA79LBu7q1Kqla6DhBd K1OELDATPF50osBquA7DsA== 0001093801-03-001386.txt : 20031106 0001093801-03-001386.hdr.sgml : 20031106 20031106134929 ACCESSION NUMBER: 0001093801-03-001386 CONFORMED SUBMISSION TYPE: PRE 14A PUBLIC DOCUMENT COUNT: 6 CONFORMED PERIOD OF REPORT: 20031218 FILED AS OF DATE: 20031106 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NEW MILLENNIUM MEDIA INTERNATIONAL INC CENTRAL INDEX KEY: 0001108967 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ADVERTISING [7310] IRS NUMBER: 841463284 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: PRE 14A SEC ACT: 1934 Act SEC FILE NUMBER: 000-29923 FILM NUMBER: 03981834 BUSINESS ADDRESS: STREET 1: 101 PHILIPPE PARKWAY STREET 2: SUITE 300 CITY: SAFETY HARBOR STATE: FL ZIP: 34695 BUSINESS PHONE: 727-797-6664 MAIL ADDRESS: STREET 1: 101 PHILIPPE PARKWAY STREET 2: STE 300 CITY: SAFTETY HARBOR STATE: FL ZIP: 34695 PRE 14A 1 pre14a-1103.txt NEW MILLENNIUM MEDIA INTERNATIONAL, INC. SCHEDULE 14A (RULE 14A-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE ACT OF 1934 Filed by the registrant |X| Filed by a party other than the registrant |_| Check the appropriate box: |X| Preliminary proxy statement |_| Confidential, for use of the Commission only (as permitted by Rule 14a-6(e)(2)) |_| Definitive proxy statement |_| Definitive additional materials |_| Soliciting material pursuant to Rule 14a-11(c) or Rule 14a-12 NEW MILLENNIUM MEDIA INTERNATIONAL, INC. - -------------------------------------------------------------------------------- (Name of Registrant as Specified in Its Charter) - -------------------------------------------------------------------------------- (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of filing fee (Check the appropriate box): |X| No fee required. |_| Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: --------------------------------------------------------------------------- (2) Aggregate amount of securities to which transaction applies: --------------------------------------------------------------------------- (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11:1 --------------------------------------------------------------------------- (4) Proposed maximum aggregate value of transaction: --------------------------------------------------------------------------- (5) Total fee paid: --------------------------------------------------------------------------- |_| Fee paid previously with preliminary materials: ---------------------------- |_| Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing. (1) Amount previously paid: --------------------------------------------------------------------------- (2) Form, Schedule or Registration Statement No.: --------------------------------------------------------------------------- (3) Filing party: --------------------------------------------------------------------------- (4) Date filed: --------------------------------------------------------------------------- - -------------------- 1 Set forth the amount on which the filing fee is calculated and state how it was determined. NOTICE OF SPECIAL MEETING OF STOCKHOLDERS to be held Thursday, December 18, 2003 TO THE STOCKHOLDERS OF NEW MILLENNIUM MEDIA INTERNATIONAL, INC. NOTICE IS HEREBY GIVEN that a Special Meeting of Stockholders (the "Special Meeting") of New Millennium Media International, Inc., will be held on Thursday, December 18, 2003 at the hour of 9:00 a.m. eastern standard time at 200 9th Avenue North, Suite 210, Safety Harbor, Florida 34695 for considering and acting upon: 1. A proposal to amend the Company's Restated Articles of Incorporation to effect an increase in the number of authorized $0.001 par value common stock from 15,000,000 authorized common shares to 150,000,000 authorized common shares. The par value will remain at $0.001 per share; and 2. Such other business, if any, as may properly come before the Special Meeting or any adjournments or postponements thereof. Only stockholders of record at the close of business on November 3, 2003 will be entitled to notice of and to vote at the Special Meeting or any adjournment(s) thereof. For a period of at least ten days prior to the Special Meeting, a complete list of stockholders entitled to vote at the Special Meeting will be open to examination by any stockholder during ordinary business hours at the offices of the Company, 200 9th Avenue North, Suite 210, Safety Harbor, Florida 34695. Information concerning the matters to be acted upon at the Special Meeting is set forth in the accompanying Proxy Statement. A proxy card is enclosed in the envelope in which these materials were mailed to you. Please fill in, date and sign the proxy card and return it promptly in the enclosed postage-paid return envelope. If you attend the Special Meeting, you may, if you wish, withdraw your proxy and vote in person. By Order of the Board of Directors /s/ John Thatch ---------------------------------- John "JT" Thatch, President/CEO/Director Safety Harbor, Florida October 30, 2003 WE URGE YOU TO SIGN, DATE AND RETURN THE ENCLOSED PROXY CARD(S) WHICH IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS AS SOON AS POSSIBLE, EVEN IF YOU ARE CURRENTLY INTENDING TO ATTEND THE MEETING. THIS WILL NOT PREVENT YOU FROM VOTING IN PERSON, BUT WILL ASSURE THAT YOUR VOTE IS COUNTED IF YOU ARE UNABLE TO ATTEND THE MEETING. NEW MILLENNIUM MEDIA INTERNATIONAL, INC. PROXY STATEMENT INTRODUCTION This proxy statement is furnished to stockholders of New Millennium Media International, Inc., a Colorado Corporation (the "Company"), in connection with the solicitation of proxies by the Company's Board of Directors for use at the Special Meeting of Stockholders to be held at 9:00 a.m., eastern standard time on Thursday, December 18, 2003, located at 200 9th Avenue North, Suite 210, Safety Harbor, Florida 34695 (the "Special Meeting") and at any adjournment(s) thereof. The Special Meeting is being held for the purpose of considering and acting upon: 1. A proposal to amend the Company's Restated Articles of Incorporation to effect an increase in the number of authorized $0.001 par value common stock from 15,000,000 authorized common shares to 150,000,000 authorized common shares. The par value will remain at $0.001 per share; and 2. Such other business, if any, as may properly come before the Special Meeting or any adjournments or postponements thereof. The date of this Proxy Statement is October 30, 2003. This proxy Statement is first being mailed to the Company's stockholders on or about such date. The Company's principal offices are located at 200 9th Avenue North, Suite 210, Safety Harbor, Florida 34695. Its telephone number is (727) 797-6664. VOTING AT THE MEETING Only holders of record of the Company's common stock, par value $0.001 per share (the "Common Stock"), outstanding at the close of business on November 3, 2003 (the "Record Date") are entitled to notice of and to vote at the Special Meeting and at any adjournment(s) thereof. As of the close of business on the Record Date, 11,613,728 shares of Common Stock were outstanding and entitled to vote at the Special Meeting. Unless otherwise indicated, all references herein to percentages of outstanding shares of Common Stock are based on such number of shares outstanding. Each share of common Stock is entitled to one vote. The presence, in person or by proxy, of holders of one third of the outstanding shares of Common Stock entitled to vote is necessary to constitute a quorum at the Special Meeting. Abstentions and broker non-votes will be counted in determining whether a quorum is present. A record holder of shares who competes and properly signs the accompanying proxy card and returns it to the Company will have their shares voted as directed on the proxy card. If a stockholder attends the Special Meeting, that stockholder may vote his or her shares by completing a ballot at the Special Meeting. The Company will have ballots available at the Special Meeting for stockholders who choose to vote their shares in person. Many stockholders hold their shares of Common Stock in "street name," which means that the shares are registered in their brokers', banks', or other nominee holders' names rather than in the stockholders' own names. The street name holder should provide to those stockholders, along with these proxy solicitation materials that the Company has provided to the street name holder, the street name holder's own request for voting instructions. By completing the voting instruction card, the stockholder may direct their street name holder how to vote the stockholder's shares. Alternatively, if a stockholder wants to vote their street name shares at the Special Meeting, the stockholder must contact their broker directly in order to obtain a proxy issued to the stockholder by their nominee holder. A broker letter that identifies the stockholder as a stockholder is not the same as a broker-issued proxy. If the stockholder fails to bring a nominee-issued proxy to the Special Meeting, the stockholder will not be able to vote their nominee-held shares at the Special Meeting. If a stockholder holds shares in street name through a broker or other nominee, the broker or nominee will not be permitted to exercise voting discretion with respect to approval of the increase in number of authorized common shares. Thus, if a stockholder does not give a broker or nominee specific instructions, the shares may not be voted on the proposal for the increase in number of authorized common shares and will not be counted in determining the number of shares necessary for approval. Shares represented by such "broker non-votes" will, however, be counted in determining whether there is a quorum present at the Special Meeting. The affirmative vote of a majority of the issued and outstanding shares of Common Stock on the Record Date is required to approve the increase in number of authorized common shares. Abstentions and broker non-votes will have the same effect as a vote against the increase in number of authorized common shares. All shares of Common Stock represented by properly executed and unrevoked proxies will be voted at the Special Meeting in accordance with the direction on the proxies. If no direction is indicated, the shares will be voted "against" (i) the proposed increase in number of authorized common shares; and (ii) at the discretion of the proxy holders with regard to any other matter that may properly come before the Special Meeting. The Company does not know of any matters, other than those described in the Notice of Special Meeting of Stockholders, which will come before the Special Meeting. A stockholder of the Company who executes and returns a proxy has the power to revoke it at any time before it is voted. A stockholder who wishes to revoke a proxy can do so by (i) executing a later date proxy relating to the same shares and by delivering it to the Secretary of the Company prior to the vote at the Special Meeting, (ii) giving written notice of the revocation to the Secretary of the Company prior to the vote at the Special Meeting or (iii) appearing in person at the Special Meeting and voting in person the shares to which the proxy relates. All written notices of revocation and other communications relating to the revocation of proxies should be addressed as follows: New Millennium Media International, Inc., 200 9th Avenue North, Suite 210, Safety Harbor, Florida 34695, Attention: Secretary. PROXY SOLICITATION EXPENSES The Company will bear the cost of soliciting its proxies, including the expenses of distributing its proxy materials. In addition to the use of the mail, proxies may be solicited by personal interview, telephone or telegram by directors, officers, employees and agents of the Company who will receive no additional compensation for doing so. The Company may reimburse brokers, custodians, nominees and fiduciaries for reasonable out-of-pocket expenses incurred by them in forwarding proxy material to the beneficial owners of the Common Stock held by them as stockholders of record. OWNERSHIP OF SECURITIES The following table sets forth certain information as of October 27, 2003, regarding beneficial ownership of our issued common stock by (i) each shareholder known by us to be the beneficial owner of 5% or more of the outstanding common stock, (ii) each of our directors and (iii) all directors and executive officers as a group. Except as otherwise indicated, we believe that the beneficial owners of the common stock listed below, based on information furnished by such owners, have sole investment and voting power with respect to such shares, subject to community property laws where applicable. Shares of common stock issuable upon exercise of options and warrants have not been included in this table. Name and Address Amount and Nature Percent of Class (1) of Beneficial of Beneficial Owner Ownership - ---------------- ------------- -------------------- John Thatch 1,333,688 11% President/CEO and Director Swartz Private Equity, LLC 900,000(2) 8% Officers, Directors 1,333,688 11% (1) Based upon 11,613,728 outstanding shares of common stock. This number of outstanding shares of common stock included shares held in "street name," which means that the shares are registered in their brokers', banks', or other nominee holders' names rather than in the stockholders' own names. Any shareholder whose shares are held in "street name" and who owns 5% or more of the outstanding common stock are not known to the Company and not included in this list. (2) The Swartz shares have been issued, but not delivered. They are currently held in escrow by the Company pending the Company put to Swartz as per the Equity Line Closing contract between the Company and Swartz. PROPOSAL 1 APPROVAL OF AMENDMENT TO EFFECT REVERSE SPLIT The Board of Directors believes that the best interests of the Company and its stockholders will be served by amending the Company's Restated Articles of Incorporation to effect an increase in number of authorized common shares from 15,000,000 to 150,000,000 and retain the par value at $0.001 per share. The Board of Directors has adopted, and proposes that the Company's stockholders approve, the increase in number of authorized common shares. Except as otherwise indicated, all per share information in this proxy statement is presented without giving effect to the increase in number of authorized common shares. If the stockholders approve the increase in number of authorized common shares, the amendment will become effective upon the filing of an amendment to the Company's Restated Articles of Incorporation with the Secretary of State of Colorado. The Company is currently authorized to issue 15,000,000 shares of Common Stock. The proposed increase in number of authorized common shares will not affect any stockholder's proportionate equity interest in the Company or the rights, preferences, privileges or priorities of any stockholder. The proposed increase in number of authorized common shares will not affect the total shareholders' equity of the Company or any components of shareholders' equity as reflected on the financial statements of the Company. There would be no increase or decrease in the Company's "stated capital" account (outstanding shares multiplied by par value) or "capital in excess" account (excess of the Company's net assets over the Company's stated capital). In addition to the number of authorized and outstanding share of Common Stock, the Company will need to adjust the historical earnings per share on its financial statements. No other adjustment will be required in the Company's financial statements as a result of the number of issued and outstanding shares of capital stock. PURPOSE OF THE INCREASE OF ISSUED AND OUTSTANDING SHARES OF COMMON STOCK The Company management believes that additional funding is necessary for operational expenses and to fund the final stages of development of the OnScreen technology. This additional funding is best obtained through a limited number of investors who chose to participate in NMMI through equity investments. The OnScreen is a new technology that allows the manufacture of large-scale LED (light emitting diode) video displays with dramatic improvements in cost and performance (hereafter referred to as "OnScreen"). NMMI signed an exclusive licensing agreement with the inventor of this new technology. NMMI will continue to participate in the research and development of the OnScreen and will have the exclusive worldwide marketing rights to sell or license the technology. A phase one working prototype model for this technology has been successfully completed and the development team has recently successfully completed fabrication of a larger, true-to-scale, prototype of the OnScreen display technology. In further support of ongoing research and development of this innovative technology, NMMI formed an OnScreen Scientific Advisory Board consisting of six nationally recognized scientific technologic individuals in the field of science and technology headed by David Pelka, all of whom have earned at least one Doctor of Philosophy degree in a scientific discipline relating to LED. This new technology is expected to create a broad range of products with better resolution and brighter pictures that are visible in direct sunlight. In addition, the new LED technology produces an advantage that is not available in today's marketplace: a more lightweight, pliable display that can fit any application. The Company believes that the increase in number of authorized common shares of capital stock. will have little or no effect on the current minimum bid price of the common stock. There can be no assurance, however, that the increase in number of authorized common shares will not result in any change in the price of the Common Stock or that, if the price of the Common Stock does decrease as a result of the increase in number of authorized common shares, the amount of such decrease. Further, the Board of Directors believes that the total number of shares currently outstanding is disproportionately small relative to the Company's present market capitalization. Moreover, when such a small number of shares are outstanding, earnings per share is easily affected by a relatively small change in net earnings. If a larger number of shares were outstanding, management would be more likely to see its funding efforts and reflected in the Company's financial statements and ultimately in Company revenue. The Board of Directors also believes that the increase in number of authorized common shares may result in a broader market for the Common stock than currently exists due to the ability to attract additional investors. Nonetheless, there is no assurance that these effects will occur or that the per share price lever of the Common Stock immediately after the proposed Reverse Split will be maintained for any period of time. AMENDMENT If the increase in number of authorized common shares is approved, the Restated Articles of Incorporation will be amended by deleting paragraph A of Article II in its entirety and inserting in its place the following: "A. COMMON STOCK. The aggregate number of common shares which the corporation shall have the authority to issue is one hundred fifty million (150,000,000), each with $0.001 par value which shares shall be designated as "Common Stock". Subject to all of the rights of the Preferred stock as expressly provided herein, by law or by the Board of Directors pursuant to this Article, the Common Stock of the corporation shall possess all such rights and privileges as are afforded to capital stock by applicable law in the absence of any express grant of rights or privileges in these Articles of Incorporation, including, but not limited to, the following rights and privileges: (i) dividends may be declared and paid or set apart for payment on the Common Stock out of any assets or funds of the corporation legally available for the payment of dividends; (ii) the holders of Common Stock shall have unlimited voting rights, including the right to vote for the election of directors and on all other matters requiring stockholder action. Each holder of Common Stock shall have one vote for each share of Common Stock standing in his name on the books of the corporation and entitled to vote, except that in the election of directors each holder of Common Stock shall have as many votes for each share of common Stock held by him as there are directors to be elected and for whose election the holder of Common Stock has a right to vote. Cumulative voting shall not be permitted in the election of directors or otherwise. (iii) on the voluntary or involuntary liquidation, dissolution or winding up of the corporation, and after paying or adequately providing for the payment of all of its obligations and amounts payable in liquidation, dissolution or winding up, and subject to the rights of the holders of Preferred Stock, if any, the net assets of the corporation shall be distributed pro rata to the holders of the Common Stock." THE BOARD OF DIRECTORS BELIEVES THAT THE APPROVAL OF THE AMENDMENT IS IN THE BEST INTEREST OF THE COMPANY AND ITS STOCKHOLDERS AND RECOMMENDS A VOTE FOR THE APPROVAL OF THE AMENDMENT. OTHER BUSINESS Management does not presently know of any matters that may be presented for action at the Special Meeting other than those set forth herein. However, if any other matters properly come before the Special Meeting, it is the intention of the persons named in the proxies solicited by management to exercise their discretionary authority to vote the shares represented by all effective proxies on such matters in accordance with their best judgment. If you do not expect to be personally present at the Special Meeting, please fill in, date and sign the enclosed proxy card and return it promptly in the enclosed return envelope which requires no additional postage if mailed in the United States. EXHIBITS Exhibit Number Description 31 CEO/CFO Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 32 CEO/CFO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 99.1 Disclosure of Audit and Non-Audit Services 99.2 Policies and Procedures adopted by the audit committee 99.3 Proxy EX-31 3 ex31-1103.txt CERTIFICATION PURSUANT TO SECTION 302 EXHIBIT 31 CERTIFICATIONS I, John "JT" Thatch, as CEO/President/Director/acting CFO of New Millennium Media International, Inc., certify that: 1. I have reviewed this Proxy Statement of New Millennium Media International, Inc.; 2. Based on my knowledge, this Proxy Statement does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the information contained in this Proxy Statement; 3. Based on my knowledge, the information included in this Proxy Statement, fairly present in all material respects the condition of the registrant as of the time of filing this Proxy Statement; 4. The registrant's other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have: a) Designed such disclosure controls and procedures to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this quarterly report is being prepared; b) Evaluated the effectiveness of the registrant's disclosure controls and procedures as of a date within 90 days prior to the filing date of this Proxy Statement (the "Evaluation Date"); and c) Presented in this Proxy Statement our conclusions about the effectiveness of the disclosure controls and procedures based on our evaluation as of the Evaluation Date; 5. The registrant's other certifying officers and I have disclosed, based on our most recent evaluation, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function): a) All significant deficiencies in the design or operation of internal controls which could adversely affect the registrant's ability to record, process, summarize and report financial data and have identified for the registrant's auditors any material weaknesses in internal controls; and b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal controls; and 6. The registrant's other certifying officers and I have indicated in this Proxy Statement whether or not there were significant changes in internal controls or in other factors that could significantly affect internal controls subsequent to the date of our most recent evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. 7. DISCLOSURE OF AUDIT AND NON-AUDIT SERVICES. New Millennium Media International, Inc. retains the services of Salberg and Company, P. A., 20283 State Road 7, Suite 300, Boca Raton, Florida 33498 as independent auditor for the Company. During the past two fiscal years the Company has paid to Salberg and Company, P. A. $49,000 audit fees and $10,000 non-audit fees. Date: October 30th, 2003 New Millennium Media International, Inc. By: /s/ --------------------------------- John "JT" Thatch CEO/President/Director/acting CFO EX-32 4 ex32-1103.txt CERTIFICATION PURSUANT TO SECTION 906 EXHIBIT 32 CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 I, John "JT" Thatch, as CEO/President/acting CFO of New Millennium Media International, Inc. (the "Company") certify, pursuant to 18 U.S.C. Section 1350, as adopted by Section 906 of the Sarbanes-Oxley Act of 2002, that to my knowledge: (1) The accompanying Proxy Statement as filed with the U.S. Securities and Exchange Commission (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and (2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. New Millennium Media International, Inc. By: /s/ Dated this 30th day of October 2003 --------------------------------- John "JT" Thatch CEO/President/Director/acting CFO EX-99.1 5 ex991-1103.txt DISCLOSURE OF AUDIT AND NON-AUDIT SERVICES EXHIBIT 99.1 DISCLOSURE OF AUDIT AND NON-AUDIT SERVICES New Millennium Media International, Inc. retains the services of Salberg and Company, P. A., 20283 State Road 7, Suite 300, Boca Raton, Florida 33498 as independent auditor for the Company. During the past two fiscal years the Company has paid to Salberg and Company, P. A. $49,000 audit fees and $10,000 non-audit fees. New Millennium Media International, Inc. By: /s/ Dated this 30th day of October 2003 --------------------------------- John "JT" Thatch CEO/President/Director/acting CFO EX-99.2 6 ex992-1103.txt POLICIES & PROCEDURES ADOPTED BY AUDIT COMMITTEE EXHIBIT 99.2 POLICIES AND PROCEDURES ADOPTED BY THE AUDIT COMMITTEE New Millennium Media International, Inc. Audit Committee Policies and Procedures Pursuant to the Sarbanes-Oxley Act of 2002, the New Millennium Media International, Inc. Audit Committee has adopted the following Policies and Procedures. 1. The Audit Committee shall, in all respects, have the obligation to adhere to and to compel compliance by New Millennium Media International, Inc. (hereafter the "Company") to the Sarbanes-Oxley Act of 2002. 2. The audit committee shall consist of no less than one and no more than three members appointed by the Company board of directors for a term of four years. Each member of the audit committee shall be a member of the board of directors of the Company, and shall otherwise be independent. "Independent" is defined as not receiving, other than for service on the board, any consulting, advisory, or other compensatory fee from the Company, and as not being an affiliated person of the Company, or any subsidiary thereof. 3. At least 1 member of the audit committee shall be a "financial expert." 4. The audit committee of shall be directly responsible for the appointment, compensation, and oversight of the work of any registered public accounting firm employed by the Company. 5. The audit committee shall establish procedures for the "receipt, retention, and treatment of complaints" received by the Company regarding accounting, internal controls, and auditing. 6. The audit committee shall have the authority to engage independent counsel or other advisors, as it determines necessary to carry out its duties. The Company shall provide appropriate funding to the audit committee. 7. The audit committee shall compel the auditor's compliance with SEC audit regulations and the committee is authorized to "recognize, as 'generally accepted'... any accounting principles" that are established by a standard-setting body that meets the Sarbanes-Oxley Act of 2002 criteria, which include requirements that the committee: (1) be a private entity; (2) be governed by a board of trustees (or equivalent body), the majority of whom are not or have not been associated persons with a public accounting firm for the past 2 years; (3) be funded in a manner similar to the Board; (4) have adopted procedures to ensure prompt consideration of changes to accounting principles by a majority vote; (5) consider, when adopting standards, the need to keep them current and the extent to which international convergence of standards is necessary or appropriate. 8. The Audit committee shall over see that the CEO and CFO of the Company shall prepare a statement to accompany the audit report to certify the "appropriateness of the financial statements and disclosures contained in the periodic report, and that those financial statements and disclosures fairly present, in all material respects, the operations and financial condition of the Company." 9. It shall be the basic policy of the audit committee to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles and includes those policies and procedures that: (1) Pertain to the maintenance of records that in reasonable detail accurately and fairly reflect the transactions and dispositions of the assets of the Company; (2) Provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and (3) Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company's assets that could have a material effect on the financial statements. 10. The audit committee shall oversee and enforce prohibition by the auditor from providing any non-audit service to an Company contemporaneously with the audit, including: (1) bookkeeping or other services related to the accounting records or financial statements of the Company; (2) financial information systems design and implementation; (3) appraisal or valuation services, fairness opinions, or contribution-in-kind reports; (4) actuarial services; (5) internal audit outsourcing services; (6) management functions or human resources; (7) broker or dealer, investment adviser, or investment banking services; (8) legal services and expert services unrelated to the audit; (9) any other service that the Board of Directors determines, by regulation, is impermissible. The Board of Directors may, on a case-by-case basis, exempt from these prohibitions any person, Company, public accounting firm, or transaction, subject to review by the SEC. 11. It is recognized, however, that it is not unlawful for the auditor to provide other non-audit services if they are pre-approved by the audit committee in the following manner. The auditor may "engage in any non-audit service, including tax services," that is not listed herein, only if the activity is pre-approved by the audit committee of the Company. The audit committee will disclose to investors in periodic reports its decision to pre-approve non-audit services. 12. The pre-approval requirement mentioned above is waived with respect to the provision of non-audit services for the Company so long as the aggregate amount of all such non-audit services provided to the Company constitutes less than 5 % of the total amount of revenues paid by the Company to its auditor (calculated on the basis of revenues paid by the Company during the fiscal year when the non-audit services are performed), such services were not recognized by the Company at the time of the engagement to be non-audit services; and such services are promptly brought to the attention of the audit committee and approved prior to completion of the audit. 13. The authority to pre-approve services can be delegated to 1 or more members of the audit committee, but any decision by the delegate must be presented to the full audit committee. 14. The lead audit or coordinating partner and the reviewing partner must rotate off of the Company audit every 5 years. 15. The auditor must report to the audit committee all "critical accounting policies and practices to be used...all alternative treatments of financial information within [GAAP] that have been discussed with management...ramifications of the use of such alternative disclosures and treatments, and the treatment preferred" by the auditor. 16. The audit committee shall comply with and cooperate with any state regulators relating to any independent determination as to whether any regulatory standards shall be applied to small and mid-size non-registered accounting firms. 17. The audit committee shall oversee that each annual report of an Company shall contain an "internal control report", which shall: (1) state the responsibility of management for establishing and maintaining an adequate internal control structure and procedures for financial reporting and (2) contain an assessment, as of the end of the Company's fiscal year, of the effectiveness of the internal control structure and procedures of the Company for financial reporting. 18. The audit committee shall oversee compliance that the Company's auditor shall attest to, and report on, the assessment made by the management of the Company. An attestation made under this section shall be in accordance with standards for attestation engagements issued or adopted by the Board of Directors. An attestation engagement shall not be the subject of a separate engagement. 19. The audit committee shall oversee the adoption of a code of ethics for its senior financial officers and shall publish a copy of such code in the books and records of the Company. Any changes in such code shall be duly noted in the books and records of the Company and promptly disclosed on Form 8-K. 20. The audit committee shall full authority to modify, amend and change these policies and procedures in its sole and exclusive discretion. Adopted and approved by the Audit Committee of New Millennium Media International, Inc. this 1st day of July 2003. EX-99.3 7 ex993-1103.txt PROXY EXHIBIT 99.3 PROXY PROXY SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS FOR THE SPECIAL MEETING OF THE STOCKHOLDERS TO BE HELD THURSDAY, DECEMBER 18, 2003 The undersigned, revoking all previous proxies, appoints _________________________ and ______________________ and each of them acting unanimously if more than one be present, attorneys and proxies of the undersigned, with power of substitution, to represent the undersigned at the special meeting of stockholders of New Millennium Media International, Inc. (the "Company") to be held on Thursday, December 18, 2003 at the Company offices, 200 9th Avenue North, Suite 210, Safety Harbor, Florida 34695, and at any adjournments thereof, and to vote all shares of Common Stock of the Company which the undersigned is entitled to vote, on all matters coming before said meeting. [X] Please mark your votes as in this example. The Board of Directors Recommends a Vote FOR the Following Proposals: A proposal to amend the Company's Restated Articles of Incorporation to effect an increase in number of authorized common shares of the outstanding shares of the Company's common stock, increasing authorized common stock from 15,000,000 to 150,000,000. The par value will remain at $0.001 per share. [ ] FOR [ ] AGAINST [ ] ABSTAIN PLEASE DATE, SIGN AND RETURN THIS PROXY CARD USING THE ENCLOSED ENVELOPE. THIS PROXY WHEN PROPERLY EXECUTED WILL BE VOTED IN THE MANNER DIRECTED HEREIN BY THE UNDERSIGNED STOCKHOLDER. IF NO DIRECTION IS MADE, THIS PROXY WILL BE VOTED "AGAINST" THE PROPOSAL. Date 2003 ---------------------------------------- ---------------------------------------- Signature ---------------------------------------- Signature of joint holder, if any Please sign exactly as your name appears on your stock certificate or account. Executors, administrators, trustees, etc. should give full title as such. If the signer is a corporation, please sign full corporate name by a duly authorized officer. -----END PRIVACY-ENHANCED MESSAGE-----