Item 5.07. Submission of Matters to a Vote of Security Holders.
On January 15, 2020, at the Special Meeting the Company's stockholders voted on
the following three (3) proposals and cast their votes as described below.
These matters are described in more detail in the Definitive Proxy Statement.
Proposal 1 - Amendment to Certificate of Incorporation; Reverse Stock Split
On January 15, 2020, the Company's stockholders approved an amendment to the
Company's Certificate of Incorporation to effect the Reverse Stock Split. The
Board of Directors has the discretion as to whether or not the Reverse Stock
Split will be effected and the exact ratio within the range approved by the
Company's stockholders. The results of the voting on Proposal 1 were as follows:
Votes For Votes Against Abstentions Broker Non-Votes
3,175,155 888,575 96,169 0
Proposal 2 - Amendment to Certificate of Incorporation; Authorized Common Stock
Increase
On January 15, 2020, the Company's stockholders approved an amendment to the
Company's Certificate of Incorporation to effect the Authorized Common Stock
Increase. The Board of Directors has the discretion as to whether or not the
Authorized Common Stock Increase will be effected. The results of the voting on
Proposal 2 were as follows:
Votes For Votes Against Abstentions Broker Non-Votes
3,112,302 951,109 96,489 0
Proposal 3 - Adjournment of the Special Meeting
On January 15, 2020, the Company's stockholders voted to approve the
authorization to adjourn the Special Meeting in the event that there were not
sufficient votes in favor of the Reverse Stock Split or the Increase in
Authorized Shares of Common Stock. The results of the voting were as follows:
Votes For Votes Against Abstentions Broker Non-Votes
2,963,925 759,771 436,205 0
1
© Edgar Online, source Glimpses