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

Hello, and welcome to the Paltalk, Inc. Annual Meeting of Stockholders. Please note that this meeting is being recorded. [Operator Instructions] The company will review questions after the meeting and do its best to answer all appropriate questions promptly following the meeting. The meeting is about to begin.

Good morning. I am Jason Katz, Paltalk, Inc.'s Chief Executive Officer. The company's 2024 Annual Meeting of Stockholders is called to order. I would like to welcome the stockholders, guests and employees who are in attendance virtually today to the annual meeting. I will act as Chairman of the Annual Meeting. At this time, I would also like to introduce Kara Jenny, our Chief Financial Officer; and Mike Haden and Alexa Cooper from Haynes and Boone, our Corporate Counsel. Everyone in attendance should have received a copy of the rules of conduct for the annual meeting. If you did not receive a copy, please submit an online comment, and we will have a copy delivered digitally to you. In the interest of maintaining an orderly meeting, we ask that you honor the rules of conduct. The annual meeting is being held today pursuant to notice that we mailed on or about October 21, 2024, to each stockholder of record as of October 18, 2024. The notice of mailing and all documents concerning the annual meeting will be filed with the records of the annual meeting. As required by law, for the last 10 days prior to the annual meeting, a certified list of the stockholders of record as of October 18, 2024, the record date for determining stockholders entitled to notice and vote at the annual meeting, has been available for inspection. Such list will also be filed with the records of the annual meeting. Our transfer agent, Equiniti Trust Company, LLC, will act as Inspector of Election at the annual meeting. Our transfer agent has been instructed to receive, examine and tabulate the ballots and proxies and to report on the voting by ballot. Our transfer agent has informed me that immediately prior to the beginning of the annual meeting, 6,633,968 shares were present in person or by proxy. This equals approximately 72% of the 9,236,987 shares of issued and outstanding shares of common stock of the company as of the record date. Therefore, I declare that a quorum is present for the purpose of conducting business at the annual meeting, and I hereby declare that the annual 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 the annual meeting. Voting today will be by online ballot and by proxy. Stockholders may vote in person, online or by proxy. Most stockholders who returned proxies authorized the persons named in the proxy to vote for the election of our director nominees and the ratification of Grassi & Co., CPAs as our independent registered public accounting firm for 2024. If you require a ballot so that you can vote individually, please submit your vote online at https://web.lumiconnect.com/207490181. During the annual meeting, we'll be following the agenda on the screen. As stated in the notice of annual meeting, 2 matters are to be brought before this annual meeting. Proposal 1, the election of 5 directors to serve until 2025 Annual Meeting of Stockholders and until their respective successors are elected and qualified. The director nominees are myself, Yoram "Rami" Abada, Lance Laifer, Kara Jenny and John Silberstein. Information about myself and the other members of the Board of Directors, including our respective biographical backgrounds, is contained in the proxy statement. The Board of Directors has recommended that you vote for the director nominees. Proposal 2, the ratification of the appointment of Grassi as our independent registered public accounting firm for the year ending December 31, 2024. Information about the appointment of Grassi as our independent registered public accounting firm is included in the proxy statement. The Board of Directors has recommended that you vote for the appointment of Grassi as our independent registered public accounting firm. If there's no further business, we will move to a discussion of the proposals. Before we vote, are there any discussions of these proposals? If any stockholder has not yet voted and would like to do so, please deliver your ballot online at this time so that it will be counted by our Inspector of Election. The formal voting segment of the annual meeting is now closed. At this time, all completed ballots should have been submitted. There being no further discussion of the proposals, I now declare the polls closed. Thank you. The ballots have been tabulated, and I will now report on the preliminary results of the voting. More than a plurality of the outstanding common stock represented in person or by proxy at the annual 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 Grassi as our independent registered public accounting firm for the year ending December 31, 2024, set forth in Proposal 2. I hereby declare that the appointment of Grassi as the company's independent registered public accounting firm for the year ending December 31, 2024, has been approved by our stockholders. If you have any question for any member of management, please submit your question to the Corporate Secretary, Kara Jenny, at the address appearing on the first page of our proxy statement. If there is no further business, this concludes our annual meeting. The annual meeting is adjourned. Thank you.