Item 5.07. Submission of Matters to a Vote of Security Holders
On December 16, 2020, the Annual Meeting of Stockholders of the Company was called to be held
following a solicitation of proxies, pursuant to a Notice of Annual Meeting and related Proxy Statement, each
dated November 16, 2020, distributed in accordance with the requirements of Regulation 14A under the
Exchange Act. On the record date of November 13, 2020, a total of 5,131,935 shares of Common Stock and
559 shares of Series B Preferred Stock were outstanding, with each share entitled to one vote.
At the meeting, proxies representing at least 4,616,119 shares (89.95% of the outstanding) appeared
and were cast, thereby establishing a quorum present in person or by proxy. It was noted that, of the
5,131,935 outstanding shares of Common Stock, 1,926,800 shares are held in CEDE accounts.
At the Annual Meeting, which involved the election of directors, the following named persons
received the number of votes cast for, against or withheld, as well as the number of abstentions (broker nonvotes
were not reported):
|
Name
|
# Votes For
|
% For
|
# Votes Withheld
|
# Votes Abstained
|
Broker Non-votes
|
|
Gene S. Bertcher
|
3,446,967
|
67.17%
|
18,397
|
-0-
|
-0-
|
|
Richard W. Humphrey
|
3447,863
|
67.18%
|
17,501
|
-0-
|
-0-
|
|
Dan Locklear
|
3,444,903
|
67.13%
|
20,461
|
-0-
|
-0-
|
|
Cecelia Maynard
|
3,445,963
|
67.15%
|
19,401
|
-0-
|
-0-
|
|
Raymond D. Roberts, Sr.
|
3,447,953
|
67.15%
|
17,411
|
-0-
|
-0-
|
At the Annual Meeting, which involved the election of directors, the following named persons
received the number of votes cast for, against or withheld, as well as the number of abstentions (broker nonvotes
were not reported):
The second matter
presented at the Annual Meeting was the ratification of the appointment of Swalm & Associates, PC as the independent
registered public accounting firm for the Company for the fiscal year ending December 31, 2020, and any interim period. A
total of 4,602,271 votes were cast FOR, 5,322 votes were cast AGAINST, and 8,526 votes were ABSTAINED from voting with
respect to such proposal. There were no broker non-votes. On the basis of such votes, the second proposal was approved.
The Annual Meeting of the Board of Directors was held later on the same day, December 16, 2020.
At such meeting, Gene S. Bertcher was reelected Chairman of the Board, President, Chief Executive Officer
and Chief Financial Officer of the Company.