STRATEGIC ALIGNMENT WITH GOVERNMENT AND AQUACULTURE INDUSTRY PRIORITIES

By partnering with Pacific Aquaculture Cooperatives Inc. (PAC), Heads of State and native islanders will not only support the development of PAC thereby contributing to the success of bringing some of the region's natural aquaculture rich resources to the global community but will also contribute to the economic development of the community from the inflow of revenues that would strengthen the four major pillars of society - housing, healthcare, education, and commerce. The success of all entities is intricately woven in such a way that if PAC does not earn money, the government and its people doesn't earn money.

To further achieve economic prosperity and alleviate poverty, PAC will forge strategic alliances with Heads of State by entering into partnership with select government officials. These honorary representatives of the government will be given the opportunity to serve as Members of The Board of PAC on both the for profit and non-for-profit mechanisms. They will serve to promote the interests of the company in tandem with governmental policies of the aquaculture industry. These board members will have specific fiduciary duties, whereby they will act for the benefit of the organization as persons of expertise from diverse backgrounds and who can provide a perspective on a situation, which is independent from management, and whose background will be from academia, business, and politics. Furthermore, as directors, they would be responsible for ensuring the success of the business and compliance with relevant regulation such as health and safety, employment law, tax and corporate governance.

Governing Boards have certain legally required duties, including duties of care, loyalty and obedience. Governing Boards can have a variety of configurations an administrative and Policy Governance. Boards of the for-profit and nonprofit corporations will be very formal in nature with strong attention to Parliamentary procedures, highly proceduralized operations, etc. Furthermore, as directors, they will be entitled to annual salaries and equity ownership of the company. The reciprocal relationship of the President of PAC and the Board of Directors, for example, will establish and warrant accountability and proper stewardship of the environment from which the natural aqua rich resources are derived and promote good corporate governance for sustainable development.

Additionally, as Members of The Board, the Heads of State will endeavor to insure the economic growth and development of their island community by insuring the success of PAC. Some of the ways this can be done is by providing exclusive rights to PAC to engage in aqua farming operations thereby excluding outside merchants from encroaching and exploiting the native's natural aqua rich resources. This will safeguard native islanders in two ways: a) from being ruthlessly exploited from illegal, unscrupulous, and unreported wild fisheries for little or no compensation, and b) protect the native ecosystem from depletion of sea cucumbers which would naturally disturb the harmonious balance thereby leading to potentially catastrophic consequences.

Working in cooperation with government and aquaculture industry priorities for the sustainability of sea cucumbers and its natural resources, PAC has developed a strategic regeneration fission process that will continuously provide abundant replenishment to the coral regions of sea cucumbers without taxing these areas of over fishery and damage to the coral reefs. In tandem with the South Pacific Commission, PAC has developed the following program for the development, management, and ongoing sustainability of individual South Pacific holothurian fisheries.

Establish permanent population survey sites as an integral part of its baseline operation.

Establish monitoring programs to collect data on fisheries and exports.

Have exclusive rights to engage in sea cucumber farming thereby limiting entries to fisheries by other merchants and eliminating illegal fisheries from outside forces.

The non-requirement of heavy farming and harvesting equipments will alleviate pressure on deeper water spawning stocks.

Develop and implement education and training in PAC's proprietary processing techniques.

Establish proprietary sea farming ranches.

Various types of MPAs (Marine Protected Areas) that range from "sustainable use" to "no take" have been proven to effectively preserve endangered marine species and rapidly increase fish biomass by allowing fish to reproduce undisturbed. In most MPAs studied, biomass has doubled in just five years, while those in Kenya and South Africa have grown between 700-800 percent.3

PAC will work to develop MPAs as part of its procedural plan to regenerate sea cucumber population thereby rectifying the problem of endangerment. This would involve implementing a moratorium on high seas industrial sea cucumber fishing in the Pacific until such time that the species most threatened are out of danger.

Footnotes

3. International Galapagos Tour Operators Association Newsletter. May-June 2005