On January 22, 2015, Eriksen Capital Management has a sent a letter to the Board of Solitron Devices, Inc. expressing its outrage at the Board's recent actions that: (i) prior to 2013, the Company failed to hold an annual meeting for over 10 years, (ii) it took a shareholder lawsuit for the Board to hold its annual meeting in 2013. At that meeting, shareholders rejected 2 of the Company's 4 board nominees. Management responded by reappointing one of those nominees anyway, (iii) at the 2014 annual meeting, shareholders rejected the Board's sole nominee, (iv) after that meeting large shareholders reached out to the Company and submitted potential candidates, (v) On January 12, 2015 the Company filed an 8-K with the SEC stating that on January 12 the Board voted to increase its size to 5 members and appointed Dwight Aubrey and John Chiste to fill the 2 vacancies.

Due to a staggered board shareholders cannot vote on either appointee until 2017, and (vi) the Company made a false statement in its 8-k filing on January 12, 2015 that Chiste is a director and Chairman of the Audit Committee of Forward Industries, Inc. The truth is Chiste was voted out as a director by shareholders (along with the rest of Forward Industries nominees) in a proxy contest that was certified on January 5, 2015. In addition, Eriksen Capital stated that the Company needs directors who are also shareholders that passionately care about the future of the Company, not ones with a history of fighting against shareholders. Further, Eriksen Capital stated that Chiste should be asked to resign immediately.