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

Hello, and welcome to the 2023 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 will 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 would also like to introduce Kara Jenny, our Chief Financial Officer; Greg Samuel and Mike Hayden from Haynes and Boon LLP, our Corporate Counsel; and Richard Cook and Robert Weissman from Marcum LLP, our independent registered public accounting firm. Before we turn to the business of the meeting, I would like to make a few opening remarks. During the year ended December 31, 2022, we executed key components of our initiatives. We added to our offering of video chat products with the asset acquisition of ManyCam, our live streaming software and virtual camera that allows users to deliver professional live videos on streaming platforms, video conferencing apps and distance learning tools. We have made progress in optimizing the ManyCam integration, which we expect to lead to revenue growth. We also launched our interactive mobile Backgammon and added game lobbies for our Backgammon and Chess games, and we anticipate these offerings will lead to an increase in usage and engagement. We also engaged Roth Capital Partners, LLC, as our financial adviser and investment banker to explore strategic initiatives focused on buy-side acquisitions. We continue to defend our intellectual property. We believe this positions us to grow our business and execute on our strategic objectives. 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 clicking the proxy voting site link on the left side of your screen. Thank you again for attending this Annual Meeting of Stockholders. 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. Declaration of quorum. Our transfer agent, American Stock Transfer & Trust Company, LLC, will act as inspector of election at this meeting. Our transfer agent has been instructed to receive, examine and tabulate the proxies 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. Collection of ballots and closing of polls. 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]

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. Five, announcement of results. I'll 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 said fourth at proposal 1 have been duly elected. More than the 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, 2023, 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, 2023, has been approved by our stockholders. Holders of a majority of the outstanding shares of common stock entitled to vote at this meeting have voted to approve an amendment to the company's Certificate of Incorporation to limit the liability of certain officers of the company set forth in Proposal 3. I hereby declare that the amendment to the company's Certificate of Incorporation to limit the liability of certain officers of the company set forth in proposal 3 has been approved by our stockholders. There being no further business, this concludes our annual meeting. Members of management and representatives of Haynes and Boon LLP and Marcum LLP are available to address 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. [Operator Instructions] Please note that 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 held our first quarter 2023 earnings results conference call on Tuesday, May 9, 2023, at 4:30 p.m. Eastern Time. A recording of the earnings call can be found on our website at https://investors.paltalk.com. If you have any questions related to the earnings call, please send an e-mail with your question to our Investor Relations contact at ir@paltalk.com. We will do our best to answer all questions as appropriate. Thank you. The meeting has now concluded. We appreciate your attendance and support.