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

Hello, and welcome to the 2022 Paltalk, Inc. Annual Meeting of Stockholders. Please note that this meeting is being recorded. [Operator Instructions] It is my pleasure to now turn the meeting over to Jason Katz. Jason Katz, the floor is yours.

Good morning. I'm Jason Katz, Paltalk's Chief Executive Officer and Chairman of the Board, and I'll act as Chairman of this meeting. The annual meeting of Paltalk, Inc. is called to order, and the polls are officially open. At this time, I'd also like to introduce Kara Jenny, our Chief Financial Officer; Mike Hayden from Haynes and Boone, LLP, our Corporate Counsel; and Robert Wiseman from Marcum LLP, our independent registered public accounting firm. Before we turn to the business of the meeting, I want to make a few opening remarks. The 2021 fiscal year proved to be a very strong year for the company, and we are excited to enter into what we believe is the next phase of our growth for our business. We uplisted to the Nasdaq Capital Market, which increases our corporate visibility to a broader investment base. This uplisting was an important milestone as we continue to execute on our initiatives to build long-term stockholder value. Following the uplisting, we raised additional capital, which provides us with flexibility in growing our business organically and seeking accretive acquisition opportunities. We believe that we are well-positioned to continue to optimize return on invested capital as our growth strategy progresses. I want to thank all 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. Thank you again for attending this Annual Meeting of Stockholders, and we'll 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, American Stock Transfer & Trust Company, will act as an 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. A 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 yet 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 the majority of the votes cast by the holders of the 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, 2022, 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, 2022, has been approved by our stockholders. And more than the majority of the votes cast by the holders of our outstanding common stock have voted on an advisory basis to approve the executive compensation of our named executive officers set forth in Proposal 3. I hereby declare that the executive compensation of our named executive officers set forth in Proposal 3 has been approved on an advisory basis by our stockholders. There being no further business, this concludes our annual meeting. Members of management and representatives of Haynes and Boone 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. I will now pause momentarily to give stockholders the opportunity to submit their questions. As a reminder, should you wish to submit a question, please click on the messaging icon at the top left side of your screen, type your question into the text box, then click the send icon at the right of the text box. Please note, in the interest of all stockholders, we will only address those questions that are pertinent to the business of this meeting. At this time, there are no questions. We invite all stockholders to attend our first quarter 2022 earnings call on Tuesday, May 10, at 4:30 p.m. Eastern Time. The details for the conference call can be found on our earnings website at https://investors.paltalk.com. If you'd like to submit a question for the earnings call, please send an e-mail with your question to our Investor Relations contact at [email protected] prior to the call. We will do our best to answer all questions as appropriate. Thank you. The meeting has now concluded. We appreciate your attendance and support.