Item 5.07. Submission of Matters to a Vote of Security Holders.
At the
Votes were cast for nominees for director as follows:
For Withheld Broker Non-Votes
The shareholders ratified the Audit Committee's appointment of
For Against Abstain Broker Non-Votes
Ratify Selection of
The shareholders approved the grant to the Board of Directors (the "Board") of the discretionary authority to effect a reverse stock split, and votes were cast as follows:
For Against Abstain Broker Non-Votes 35,920,903 6,768,730 109,389 0 Item 8.01. Other Events.
On
Upon the effectiveness (the "Effective Time") of the Reverse Stock Split, every ten (10) shares of the Company's Common Stock issued and outstanding prior to the Effective Time will be consolidated into one (1) issued and outstanding share, with no change in the par value per share.
Upon the Effective Time of the Reverse Stock Split, the number of authorized shares of Common Stock will be reduced from 120 million shares to 12 million shares of Common Stock and the number of authorized shares of Class B Common Stock will be reduced from 30 million shares to 3 million shares of Class B Common Stock.
Safe Harbor
The information provided in this Report may include forward-looking statements
relating to future events or the future financial performance of the Company.
Because such statements are subject to risks and uncertainties, actual results
may differ materially from those expressed or implied by such forward-looking
statements. Words such as "anticipates," "plans," "expects," "intends," "will,"
"potential," "hope" and similar expressions are intended to identify
forward-looking statements. These forward-looking statements are based upon
current expectations of the Company and involve assumptions that may never
materialize or may prove to be incorrect. Actual results and the timing of
events could differ materially from those anticipated in such forward-looking
statements as a result of various risks and uncertainties. Detailed information
regarding factors that may cause actual results to differ materially from the
results expressed or implied by statements in report relating to the Company may
be found in the Company's periodic filings with the Commission, including the
factors described in the sections entitled "Risk Factors," copies of which may
be obtained from the
--------------------------------------------------------------------------------
© Edgar Online, source