Sachem Capital Corp. (SACH) Earnings Call Transcript & Summary

Hello, and welcome to the Annual Meeting of Shareholders of Sachem Capital Corp., which commenced on October 13, 2021. The meeting was adjourned to November 3, 2021, with respect to Proposal 2. The meeting reconvened November 3, 2021, to vote on Proposal 2. A motion was made and approved to adjourn the meeting a second time until today. Please note that today's meeting is being recorded. During the meeting, shareholders can submit questions on the proposals by clicking on the Q&A tab and entering your question in the text box. It is now my pleasure to turn today's meeting over to John Villano, President, Chief Executive Officer, Chief Financial Officer and Chairman of the Board of Sachem Capital Corp. Mr. Villano, the floor is yours.

Good morning, ladies and gentlemen. I am John Villano, President, Chief Executive Officer, Chief Financial Officer and Chairman of the Board of Sachem Capital Corp. I welcome you to the resumption of our 2021 Annual Meeting of Shareholders. Today's virtual-only meeting is a live audio webcast. I call your attention to the Documents tab on the right side of the meeting center screen. Once you click the Documents tab, you will find a tab entitled Rules of Conduct. You should quickly review the rules of conduct set forth for this meeting. If you need a copy of the annual report or the proxy statement, you can access them by clicking on the Documents tab on the right side of the meeting center screen and choosing Proxy Materials. The Inspector of Elections has advised that in excess of 50% of the eligible votes are present in person or by proxy. A quorum is therefore present, and the meeting can now proceed to consider Proposal 2, the approval of a charter amendment to increase the number of authorized common and preferred shares of the company. The Board recommends a vote for this proposal. This motion has already been moved and seconded. If you have any questions or comments on the proposal, you may submit questions online by clicking on the Q&A tab on the right side of the meeting center screen and typing your question. Do we have any questions at this time? I will now call for a vote on Proposal #2. If you have not voted or wish to change your vote, you may do so now by clicking on the link provided online. Any shareholder who has already voted and does not want to change their vote, they need not take any further action. We will now pause for 2 minutes to give shareholders an opportunity to vote. [Voting]

The voting is now closed on Proposal #2. I ask that the inspector to commence a tally of the votes and announce the voting results.

Ladies and gentlemen, I hereby announce that Proposal 2 to amend the company's charter to increase its authorized capital has not been approved.

Thank you, Ms. Stanley. A motion to adjourn the meeting has already been moved and seconded. The meeting will now be adjourned. Thank you all for your attendance at this meeting.

This concludes the meeting. You may now disconnect.