Hyperscale Data, Inc. (GPUS) Earnings Call Transcript & Summary

Hello, and welcome to the Annual Meeting of Stockholders of DPW Holdings, Inc. Please note that today's meeting is being recorded. It is now my pleasure to turn today's meeting over to Ken Cragun, Chief Financial Officer of DPW Holdings, Inc. Mr. Cragun, the floor is yours.

Good morning, ladies and gentlemen. I'm Ken Cragun, the Chief Financial Officer of DPW Holdings, Inc. It is now 9 a.m. Pacific Time, and I call to order this annual meeting. I will act as chairman of this meeting, and I would like to take this opportunity to welcome you to our annual meeting. David Katzoff will act as secretary of this meeting and has been appointed to act as inspector of election. This meeting has been called for the matters set forth in the proxy statement dated November 13, 2020. An affidavit of mailing establishing that notice of the meeting was duly given has been delivered to us. The affidavit of mailing is approved and will be incorporated into the minutes of this meeting. All stockholders of record as of the close of business on November 2, 2020, are entitled to vote at this meeting. The first order of business is to determine whether the shares represented at this meeting, either in person or by proxy, are sufficient to constitute a quorum for the purpose of transacting business. The secretary will now report as to the presence of a quorum.

The list of stockholders shows that holders of 14,952,538 shares of our common stock and 125,000 shares of Series B convertible preferred stock are entitled to vote at this meeting. A quorum consists of a majority of the shares entitled to vote. There are present, either in person or by proxy, the holders of 4,646,099 shares of our common stock and Series B convertible preferred stock or approximately 31.1% of all the shares entitled to vote at this meeting. We, therefore, have no quorum.

Thank you. I hereby declare that a quorum is not present at this meeting and that this meeting is, therefore, not duly convened for purposes of transacting such business as they properly come before it. Consequently, votes will not be tabulated as none can pass without a quorum. Thank you for attending today's meeting. The Annual Meeting of Stockholders is now adjourned.

This concludes the meeting. You may now disconnect.