Proposal #2 is a Proposal to Authorize a Reverse Stock Split. Approval of this proposal would grant the new Board of Directors (the 'Board') discretion to determine whether to implement a Reverse Stock Split and determine the appropriate timing and ratio. The primary reason for this proposal is to ensure that the Company can meet Nasdaq's minimum
Proposal #3 is a Proposed Amendment to Our Equity Incentive Plan. The availability of employee equity plans is necessary to attract, motivate and retain top talent. The proposal would remove the
'We are pleased that ISS, a leading independent proxy advisory firm, has recommended stockholders vote for these two critical proposals at our upcoming annual meeting. Our refreshed Board and rebuilt management team believe that stockholders need to support these critical proposals at the Annual Meeting in order to give the Company a chance to survive and ultimately pursue long-term value creation. We fully appreciate stockholders' concerns about future dilution, and are committed to acting judiciously to preserve value. It is not our intention to effect a reverse split immediately after the Annual Meeting even if the reverse split proposal is approved; instead, we intend to evaluate the share price relative to and in light of potential future developments or events and to only take actions that we believe are in stockholders' best interests.'
The deadline for stockholders to vote (or change their vote) is
About
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that express plans, anticipation, intent, contingencies, goals, targets or future development and/or otherwise are not statements of historical fact. These statements relate to future events or future results of operations, including, but not limited to statements concerning the Company's future operations and activities. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors, which may cause Adamis' actual results to be materially different from the results anticipated by such forward-looking statements. In addition, forward-looking statements concerning our anticipated future activities assume that we have sufficient funding to support such activities and continue our operations and planned activities. We cannot assess the impact of each factor on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. You should not place undue reliance on any forward-looking statements. Further, any forward-looking statement speaks only as of the date on which it is made, and except as may be required by applicable law, we undertake no obligation to update or release publicly the results of any revisions to these forward-looking statements or to reflect events or circumstances arising after the date of this press release. Certain of these risks and additional risks, uncertainties, and other factors are described in greater detail in Adamis' filings from time to time with the
Additional Information and Where to Find It
In connection with the Company's 2022 annual meeting of stockholders described above (the 'Annual Meeting'), the Company filed a definitive proxy statement (the 'Proxy Statement') with the
Participants in Solicitation
The Company and its directors and executive officers may be deemed participants in the solicitation of proxies from the Company's stockholders with respect to the proposals to be considered at the Annual Meeting. A list of the names of those directors and executive officers and a description of their interests in the Company is contained in the Company's definitive Proxy Statement for the Annual Meeting, which was filed with the Commission and is available free of charge at the Commission's web site at www.sec.gov, as well as any proxy supplement or amendments thereto. To the extent such holdings of the Company's securities may have changed since that time, such changes have been or will be reflected on Statements of Change in Ownership on Form 4 filed with the Commission, to the extent required by applicable laws.
Contact:
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