Hello, welcome to the annual meeting of shareholders of POSaBIT Systems Corporation. Please note that today's meeting is being recorded. If you participate in today's meeting and disclose personal information, you will be deemed to consent to the recording, transfer, and use of same.
If you disclose personal information of another person in today's meeting, you will be deemed to represent and warrant to Computershare and the Corporation that you first obtained all required consents for the disclosure, recording, transfer, and use of such personal information from all appropriate persons before your disclosure. It is now my pleasure to turn today's meeting over to Ryan Hamlin, CEO, Co-Founder, and Chair. Ryan, the floor is yours.
Thank you, welcome, everyone, to the annual general and special meeting of shareholders of POSaBIT Systems Corporation. In accordance with the Corporation's articles, I'll preside as Chair of the meeting. Stephen Gledhill will act as Secretary of the meeting. Before commencing the formal business of this meeting, given this meeting is being held virtually, I'd like to set out a few rules for orderly conduct.
Rule one, questions in respect of a motion or procedural matter can be submitted by any registered shareholder or duly appointed proxy holder using the instant messaging service on the virtual interface. Please note that there will be a slight delay in the publication of the communications received. The second rule, today's meeting is being held solely for the purposes set out in the notice of the meeting and accompanying management information circular in respect of this meeting.
Third, for the purposes of today's meeting, voting on all matters will be conducted by electronic ballot. Registered shareholders and duly appointed shareholders will be asked to vote on each business item. Lastly, when you're asked to vote, you can click on the vote icon on the virtual interface to register your votes. I will also advise you when the polls are about to close.
To make the best use of our time, certain shareholders or proxy holders have been asked to move the resolutions of the matters which are set out in the notice of meeting and accompanying management information circular. With the consent of the meeting, Computershare Investor Services Inc., the Corporation's registrar and transfer agent, through its representatives, will act as scrutineer. Scrutineer will report on the shareholders participating in the meeting and the number of securities represented at this meeting.
They will compute the votes cast by ballot and report to me on these matters. Let's begin. The purposes of today's meetings are set out in the management information circular and accompanied materials, which have been mailed to all shareholders of the Corporation. The Secretary of the meeting has received proof- of- service of such materials, I direct that such proof- of- service be annexed to the minutes of the meeting.
Accordingly, the notice of meeting will not be read. I have been advised that the requisite quorum of shareholders is present and that the meeting is properly constituted for the transaction of business. I have received the scrutineer's report on attendance, I direct that it be annexed to the minutes of the meeting. All right.
As the first item of business, I now present to the meeting the audited consolidated financial statements of the Corporation for the year ended December 31st, 2025, and the report of the auditors thereon. Copies of the financial statements have been mailed to the shareholders of the Corporation and are available under the corporation's profile on the SEDAR+ website.
Given the foregoing, it is not proposed that they be read at the meeting, but that they be taken as received. Before I move to the next item of business, I will now take a moment to ask that the balloting be open to registered shareholders and duly appointed proxy holders. I'll just hold briefly while we open up all of the voting. Okay.
I've been told the polls are now open, and at this point, all registered shareholders and duly appointed proxy holders who have properly logged in with their control numbers or usernames and wish to vote will be able to see on the screens all motions being brought forward at this meeting.
It's important to note if you have already registered your vote in one of the manners specified in the management information circular, you do not need to vote by electronic ballot at this meeting unless you wish to change your vote. Please register your votes by accessing the voting page and selecting the for, against, or withhold buttons as applicable next to the relevant resolutions.
Although the polls are now open, each item of business will be introduced one at a time, and registered shareholders and duly appointed proxy holders who have properly logged in with their control numbers or usernames will be able to vote on all motions until the closing of the polls, which will occur shortly after all matters have been voted on and have been formally put forth before the meeting. I will now move to the next item of business. The first item is that we will now proceed with setting the number of directors. I move a motion to set the number of directors at three. I will now move to the next item of business.
The following are the names of each person proposed to be nominated for election as a director of the corporation, each to serve as a director until the next meeting of shareholders at which the election of the directors is considered, or until his or her successor is duly elected or appointed. The three directors being nominated are Ryan Hamlin, Mike Apker, and Bruce Jaffe. Seeing no further nominations, I declare the nominations for directors closed.
I move a motion to approve the election of the directors as set out in the management information circular. I will now move to the next item of business. The next item of business is to appoint the auditors of the corporation for the current year and to authorize the directors to fix their remuneration. I move a motion appointing McGovern Hurley LLP as the auditors of the corporation for the current year.
I'll now move to the next item of business. This is actually the last item of business. It is to approve a special resolution authorizing the corporation to consolidate the corporation's issued and outstanding common shares at a share consolidation ratio to be determined by the board of directors of the corporation in its sole discretion.
The exact text of the share consolidation resolution is included in the management information circular, which was distributed to shareholders in respect to this meeting. I move a motion to approve the share consolidation resolution as set forth in the management information circular. Those are our items. Now registered shareholders and duly appointed proxy holders have been provided, hopefully with ample time, to register their votes. However, I will keep the polls open, and we'll be closing them in about 30 seconds.
Once the electronic balloting is closed, the voting page will disappear, and your votes will automatically be submitted. I will pause for about 30 seconds for everyone to finish voting and for Computershare to compute the votes. Okay. I've been told the polls are now closed. I would ask that the scrutineer compile the results on the meeting of voting on all business matters. As the scrutineer compiles those, I'm going to just briefly pause for a few seconds to get the results.
Okay. I have been advised that a sufficient number of ballots and proxies deposited have been voted in favor of all resolutions considered at the meeting today. Therefore, I declare all of the resolutions to have been carried. I direct the results of the ballots to be annexed to the minutes of the meeting. At this point, I will ask, is there any further business?