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Wednesday, January 04, 2023 11:59:07 AM
This stuff is complicated.
"Of the 11,610,037 shares of the Company’s common stock and 495,173 shares of Series A Convertible Preferred Stock (“Series A Preferred Shares”) entitled to vote at the Meeting, an aggregate of 57% of the Registrant’s securities entitled to vote were present in person or by proxy, representing a majority of the Company’s outstanding voting capital stock."
495,173 x 9 = 4,456,557 votes, so the total entitled votes are 16,066,594.
"Proposal 1 is a proposal to redomicile the Company from a Nevada Corporation to a Delaware corporation. While Proposal 1 has exceeded 83% approval based on votes cast to date, approval of more than 50% of all outstanding shares of the Company’s voting stock as of October 17, 2022 is necessary for the proposal to be approved."
Proposal No. 4, approval of auditors, received 9,255,314 FOR votes.
Doesn't that suggest that there were more than enough votes available to pass the redomiciling proposal?
Who voted against it?
Put more simply, why did more shares get voted to approve the auditors (typically rubber stamped by shareholders) than are willing to approve the move to Delaware? It seems as if someone doesn't like the idea and they hold a bunch of shares.
“I have had a wonderful time but this wasn't it.”
..........Groucho
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