AudioEye, Inc. (AEYE) Earnings Call Transcript & Summary

Welcome to the 2020 Special Meeting for AudioEye, Inc. Our host for today's call is Dr. Carr Bettis, Executive Chairman, Chairman of the Board and Director. [Operator Instructions] I will now turn the call over to your host, Dr. Bettis. You may begin, sir.

Good morning. On behalf of AudioEye's Board of Directors and officers, I welcome you to our special meeting of stockholders, which is now called to order. Due to the COVID-19 pandemic, we are holding this meeting virtually. Delaware law enables Delaware corporations, such as AudioEye, to hold shareholder meetings solely by means of what is termed as remote communication, which includes audio and which is how we will proceed today. Using remote communication, stockholders can participate in the meeting, be deemed present at the meeting and vote at the meeting. The polls are now open to voting. If you wish to vote, please follow the instructions on the website you accessed to join the meeting. You may vote at the meeting, whether or not you have already voted. [Operator Instructions] Questions relating to the 2 proposals set forth in the proxy statement will be addressed after the proposals have been presented and prior to the polls closing. The record date for voting at the meeting was November 6, 2020. 10,020,128 shares of common stock were outstanding as of the record date and are entitled to 1 vote each. The Series A convertible preferred stocks votes as a class with the common stock. As of the record date, the holders of preferred shares were entitled to 291,030 votes. I submit for the company's record affidavits of mailing to stockholders of record common stock and Series A convertible preferred stock and to brokers and institutions. Copies of the affidavits will be available for inspection and will be placed in the permanent records of the meeting. The Board of Directors has appointed Sean Curley to act as an inspector of the election. Mr. Curley is in a telephonic attendance at this meeting. Mr. Curley also informed me that more than 50% of the voting power of the company's outstanding common stock or outstanding stock entitled to vote at today's meeting is represented by proxy or in person at this meeting, and as a result, a quorum is present. As stated in the notice of special meeting, there are 2 proposals to come before the meeting today. Due to the presence of a quorum at this meeting and the number of votes by proxy on proposal 1 received prior to this meeting, we do not anticipate needing to utilize proposal 2. However, we will still present it during this meeting. Mr. Sachin Barot, our Chief Financial Officer, is the person named in the proxy materials to act as proxy for those who have voted prior to today and will vote the proxies. Proposal 1 is the approval of the AudioEye, Inc. 2020 Equity Incentive Plan. The AudioEye Board of Directors has recommended that stockholders vote for this proposal. Proposal 2 is the approval of one or more adjournments of the special meeting to a later date or dates necessary or appropriate to solicit additional proxies if there are insufficient votes to approve proposal 1 at the time of the special meeting or in the absence of a quorum. The AudioEye Board of Directors has recommended that stockholders vote for this proposal. If you plan to vote and have not already done so, please complete your voting now as the polls will be closing shortly. [Voting]

Let us see now whether any applicable questions have been submitted concerning the proposals. There have been no applicable questions. The polls are now closed. Please excuse me for a second to confer with the inspector of elections. The inspector of election has reported to me that the votes have been tabulated and the preliminary results are as follows. The proposal for AudioEye -- for approval of the AudioEye, Inc. 2020 Equity Incentive Plan has been approved. The contingent adjournment proposal has been approved but did not need to be utilized. Please note that the inspector of election will furnish a written report of the final vote count for each of these matters and that the final vote count will be reflected in the minutes of this meeting and in the Form 8-K that the company will file with the SEC to report the results of this meeting. I direct that the certificate of inspector of election be filed with the records of the company. This concludes the corporate business of the special meeting. And as there is no other business to consider, the special meeting is adjourned. Thank you very much for attending our meeting today and have wonderful holidays.

This now concludes the meeting. Thank you for joining, and have a pleasant day.