Predictive Oncology Announces Cancellation of Special Meeting in December 2020
December 29 2020 - 5:15PM
Predictive Oncology (NASDAQ: POAI) (the “Company”), a
knowledge-driven company focused on applying artificial
intelligence (“AI”) to personalized medicine and drug discovery,
today announced that its Board of Directors has decided to cancel
its Special Meeting of Stockholders that was originally scheduled
for December 1, 2020. On that date, the meeting was adjourned to
December 30, 2020 because a quorum was not reached. As of December
30, 2020, approximately 47% of the outstanding shares as of the
record date have been voted, and therefore a quorum has still not
been reached. The Board of Directors has determined that it is not
practical to incur the expense of adjourning the meeting further to
continue to solicit proxies, because approval of the
reincorporation proposal would require the affirmative vote of a
majority of the Company’s outstanding shares (not simply a majority
of the shares voted).
The Board notes that, of the shares that were
voted at the Special Meeting, nearly 88% of the shares were voted
FOR the reincorporation from Delaware to Nevada. In the future, the
Board intends to continue to seek stockholder approval for
reincorporation, due in part to the oppressive franchise taxes
charged by Delaware.
About Predictive Oncology Inc.
Predictive Oncology (NASDAQ: POAI) operates
through three segments (Skyline, Helomics and Soluble Biotech),
which contain four subsidiaries: Helomics, TumorGenesis, Skyline
Medical and Soluble Biotech.
Helomics applies artificial intelligence to its
rich data gathered from patient tumors to both personalize cancer
therapies for patients and drive the development of new targeted
therapies in collaborations with pharmaceutical companies.
TumorGenesis Inc. specializes in media that help cancer cells grow
and retain their DNA/RNA and proteomic signatures, providing
researchers with a tool to expand and study cancer cell types found
in tumors of the blood and organ systems of all mammals, including
humans. Skyline Medical markets its patented and FDA cleared
STREAMWAY System, which automates the collection, measurement and
disposal of waste fluid, including blood, irrigation fluid and
others, within a medical facility, through both domestic and
international divisions. Soluble Biotech is a provider of soluble
and stable formulations for proteins including vaccines,
antibodies, large and small proteins and protein complexes.
Forward-Looking Statements
Certain matters discussed in this release
contain forward-looking statements. These forward-looking
statements reflect our current expectations and projections about
future events and are subject to substantial risks, uncertainties
and assumptions about our operations and the investments we make.
All statements, other than statements of historical facts, included
in this press release regarding our strategy, future operations,
future financial position, future revenue and financial
performance, projected costs, prospects, plans and objectives of
management are forward-looking statements. The words “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “would,”
“target” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Our actual future
performance may materially differ from that contemplated by the
forward-looking statements as a result of a variety of factors
including, among other things, factors discussed under the heading
“Risk Factors” in our filings with the SEC. Except as expressly
required by law, the Company disclaims any intent or obligation to
update these forward-looking statements.
Investor Relations Contact:
Hayden IRJames Carbonara(646)-755-7412
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