Intelligent Protection Management Corp. (IPM) Earnings Call Transcript & Summary

Hello, and welcome to the Annual Meeting of Stockholders of PeerStream, Inc. Please note that today's meeting is being recorded. [Operator Instructions] It is now my pleasure to turn today's meeting over to Mr. Jason Katz, PeerStream's Chief Executive Officer and Chairman of the Board. Mr. Katz, the floor is yours.

Good morning. I'm Jason Katz, PeerStream's Chief Executive Officer and Chairman of the Board. I'll act as Chairman of this meeting. The annual meeting of PeerStream Inc. is called to order, and the polls are officially open. At this time, I would like to also introduce Kara Jenny, our Chief Financial Officer; Richard Cooke from Marcum LLP, our independent registered public accounting firm; and Michael Pritchard from Haynes and Boone, LLP, our Corporate Counsel. In addition, Wilmary Soto-Guignet will -- our Vice President of Finance and HR, will serve as moderator of this meeting. Before we turn to the business of the meeting, I would -- I want to make a few opening remarks. First, I want to thank all of those in attendance for their interest in our business and remind you that if you have not yet voted your shares, you can do so at this time by following the instructions available on the virtual meeting platform. We recognize that these are extraordinary and challenging times for businesses and individuals and we are grateful for your continued support. While no business is immune to the impacts of COVID-19, we remain confident in our products and believe our communication applications continue to serve as a form of safe and entertaining communication during this global pandemic. Secondly, I want to turn to some news that we're very excited to share with our stockholders. As many of you know, we recently released our results of Q1 2020, and in connection with that release, we also announced the planned name change to Paltalk, Inc. We expect this name change to become effective tomorrow, May 15, 2020, and our stock will also begin trading under a new ticker symbol, PALT. This change takes us back to our roots and reflects our primary focus on our current operations, Paltalk and Camfrog, which together are host of one of the world's largest collections of real-time video-based communities. We look forward to the completion of this name change and the return to our core strategic direction. Thank you again for attending this annual meeting of shareholders. I will now turn to the official business of the meeting. Following the meeting's conclusion, we will hold a short question-and-answer session to respond to any questions that you may have. Our transfer agent, EQ Shareowner Services will act as inspector of election at this meeting. Our transfer agent has been instructed to receive, examine and tabulate the proxies and to report on the voting by proxies. Our transfer agent has informed me that immediately prior to the beginning of this meeting, a majority of our outstanding shares were present by proxy. Therefore, I declare that a quorum is present for the purpose of conducting business at this meeting, and I hereby declare that the meeting is legally convened and ready to transact business. The certified report of the inspector of election will be attached as an exhibit to the minutes of this meeting. At this time, I will tabulate and announce the voting results of the meeting and would ask that all stockholders complete and submit their votes. I will pause now for a moment to allow any stockholders who have not voted the opportunity to complete the voting process. [Voting]

Okay. Thank you for your votes. I will now ask that the formal voting segment of the meeting be closed. There being no further discussion of the proposals. I now declare the polls closed. I will now report on the results of the voting. More than a plurality of the outstanding common stock represented by proxy at this meeting entitled to vote and voted in the election of Directors has been voted for the election of the Director nominees set forth in Proposal 1. I hereby declare that the Director nominees set forth in Proposal 1 have been duly elected. More than a majority of the votes cast by the holders of our outstanding common stock have been voted to ratify the appointment of Marcum LLP as our independent registered public accounting firm for the year ending December 31, 2020, set forth in Proposal 2. I hereby declare that the appointment of Marcum LLP as the company's independent registered public accounting firm for the year ending December 31, 2020, has been approved by stockholders. There being no further business, this concludes our annual meeting. Members of management and representatives of Haynes and Boone, LLP and Marcum LLP are available online should you have any further questions. The meeting is hereby adjourned, and I will now open the floor to questions from our stockholders.

Thank you. I will now pause momentarily to give shareholders the opportunity to submit their question. At this time, there are no questions. I will return the floor back over to the Chairman.

Thank you. The meeting has now concluded. We very much appreciate your attendance and support.

Ladies and gentlemen, this concludes the meeting. You may now disconnect, and please have a pleasant day.