Item 5.07. Submission of Matters to a Vote of Security Holders.
On
As previously reported in the Company's Current Report on Form 8-K filed with
the
Proposal 4-Approval of an amendment to the Company's Certificate of
Incorporation, as amended, to effect a reverse stock split of the Company's
issued and outstanding shares of common stock,
Based on the tabulation of votes, Proposal 4 did not receive the requisite votes and did not pass. The results of the voting for this proposal were as follows:
Votes For Votes Against Abstentions Broker Non-Votes 89,131,647 14,381,107 1,467,944 0
Proposal 5-Approval of an amendment to the Company's Certificate of Incorporation, as amended, to decrease, concurrent with and conditioned upon the effectiveness of the Reverse Stock Split, the number of authorized shares of the Company's Common Stock from 275,000,000 to 55,000,000
Based on the tabulation of votes, Proposal 5 did not receive the requisite votes and did not pass. The results of the voting for this proposal were as follows:
Votes For Votes Against Abstentions Broker Non-Votes 92,855,714 41,924,628 2,200,356 0
Although approximately 65% of the shares voted (including abstentions and withheld votes) were voted in favor of Proposal 4 and approximately 68% of the shares voted (including abstentions and withheld votes) were voted in favor of Proposal 5, the Company did not have the requisite stockholder votes to approve the proposals. The Company plans to continue to work on solutions to overcome structural impediments to implementation of the will of its stockholders.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Exhibit Description Cover Page Interactive Data File (embedded within the Inline XBRL 104 document)
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