Remark Holdings, Inc. (MARK) Earnings Call Transcript & Summary

Hello, and welcome to the special meeting of Stockholders of Remark Holdings, Inc. Please note that today's meeting is being recorded. [Operator Instructions] It is now my pleasure to turn today's meeting over to Brian Harvey, Senior Vice President of Capital Markets and Investor Relations of Remark Holdings, Inc. Mr. Harvey, the floor is yours.

Thank you, Chris. Good morning, everyone. And welcome back to the Remark Holdings special meeting of stockholders. On the call with me today is Remark's Chairman and Chief Executive Officer, Kai-Shing Tao. The inspector of election has polled the stockholders present in person and has examined the proxies. Her report of stockholders represented at this meeting has been submitted, and it indicates that holders of shares in excess of the number necessary to constitute a quorum are not present in person or represented by proxy. This report will be available for inspection throughout this meeting and will be appended to the minutes of this meeting. Having reported that a quorum is not present for the transaction of business, we will further adjourn this meeting until Tuesday, April 6, 2021, at 1:00 p.m. Eastern Time in order to solicit the additional votes necessary to achieve a quorum and conduct business. First of all, I'd like to, once again, thank those shareholders who took the time to vote and reached out for information on how to vote. For those of you who haven't yet voted, or if you need assistance voting your shares, please call 1 (866) 695-6078, which is a toll free number. Management and the board believe that it is in our best interest and that of our stockholders to increase the number of authorized shares of common stock in order to give sufficient authorized shares to generally support our growth and to provide flexibility for future corporate needs, which include, but are not limited to, grants under equity compensation plans, stock splits, financings, potential strategic transactions, including mergers, acquisitions and business combinations as well as other general corporate transactions. The additional authorized shares would enable us to issue shares in the future in a timely manner and under circumstances we consider favorable without incurring the risk, delay and potential expense in obtaining stockholder approval for a particular issuance. We will reconvene on April 6, 2021, at 1:00 p.m. Eastern Time. Thank you, and have a great afternoon.

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