Good morning, everyone, and welcome to the iPower Inc Annual Meeting of Stockholders. At this time, I'd like to turn the floor over to Chenlong Tan. Please go ahead.
Good morning. I now call the meeting to order. My name is Chenlong Tan, and I'm the Chief Executive Officer, Chairman, President, and Interim CFO of iPower Inc. Welcome to our 2026 Annual Meeting of the Stockholders. We are excited to be hosting our fifth annual virtual meeting, which, just as last year, allows us to be more inclusive and reach a greater number of our stockholders. We have stockholders attending via the web portal. We'll conduct the business portion of our meeting first and answer questions at the end of the meeting. Though we may not be able to answer every question, we will do our best to provide a response to as many questions as possible, and we'll address any unanswered questions on our corporate website shortly after the meeting.
In keeping with the digital approach to this year's meeting, it is now 10:01 A.M. Eastern Time on April 13, 2026, and this meeting is officially called to order. An agenda that outlines the order of business for the meeting has been made available to all attendees. First, I'd like to introduce the current members of the company's Board of Directors who are on the broadcast today. Bennet Tchaikovsky. We also have Alice Wu, our Corporate Controller, here with us. After the formal meeting has been adjourned, we will provide time for general questions. Only validated stockholders may ask questions in the designated field on the web portal. Out of consideration for others, please limit yourself to one question. Please note that this meeting is recorded. However, no one attending via the webcast or telephone is permitted to use any audio recording device.
The Board of Directors fixed February 12, 2026, as the record date for determining stockholders entitled to vote at this meeting. The affidavit has been delivered, attesting to the fact that the proxy statement and the 2026 Annual Report to stockholders were mailed to stockholders on or about March 4, 2026, to all stockholders as of the record date. Such affidavit will be incorporated into the minutes of the meeting. The stockholder list shows that as of the record date, there were 1,293,177 shares of the common stock outstanding and entitled to vote in this meeting. We are informed by the Inspector of Election that there are represented in person or by proxy, shares of common stock representing 793,391 shares, or approximately 61.35% of the voting power on the record date.
Since this represents more than a majority of the voting power of all issued and outstanding stock entitled to vote on the record date, a quorum is present for the purposes of transacting business. In advance of this meeting, the proxy materials, including a copy of the company's proxy statement, a ballot, and the company's annual report, were sent on or about March 4, 2026, to each stockholder of record as of February 12, 2026, which is the record date for this meeting. Alice Wu, the company's Corporate Controller, has been appointed to act as Inspector of Election and to act as Secretary at this meeting.
Thank you, Lawrence. My name is Alice Wu. My oath as Inspector of Election has been submitted and will also be appended to the minutes of this meeting. As Inspector of Election, I have called the stockholders present in person and have examined the proxies. My report of stockholders represented at the meeting has been submitted and indicates that holders of shares in excess of the number necessary to constitute a quorum are present in person or represented by proxy. The Inspector of Election's report will be available for inspection throughout the meeting and will be appended to the minutes.
Thank you. I will now present the matters to be voted. Please note we will give stockholders opportunity to comment on the proposals themselves after all proposals have been presented. In addition, as this is a virtual meeting and all voters are submitted electronically at one time, we are presenting all matters to be voted oncare at once, after which you may cast your vote for each matter by electronic submission.
Proposal one is for the election of five directors to the Company's Board of Directors, to serve until the 2027 Annual Meeting of Stockholders or until his or her successor is elected and qualified. The nominees for the Board of Directors are as follows. Chenlong Tan, Chairman, CEO, President, Interim CFO, and Director. Yi Yang, Director. Bennet Tchaikovsky, Independent Director. Hanxi Li, Independent Director. Yue Guo, Independent Director.
Proposal two is to ratify the appointment of HTL International, LLC as the company's independent accountant for the fiscal year ending June 30, 2026. Proposal three is to approve, on advisory basis, the company's executive compensation as described in the Proxy Statement. Proposal four is to approve any adjournment of the Annual Meeting from time to time, if necessary or appropriate, including solicitate additional votes in favor of any of the above proposals in the event there are not sufficient votes at the time of the Annual Meeting to approve the proposals or to establish a quorum. Proposal five is to transact any other business as may properly be presented at the Annual Meeting or any adjournment thereof.
My name is Alice Wu, and I am a stockholder. I hereby make a motion that each of Proposals one, two, three be approved, as we do not need to delay the meeting and have no other business than has been properly presented for vote at the Annual Meeting at this time. We do not need to address Proposal four and five at this time.
My name is Bennet Tchaikovsky. I am a stockholder, and I second the motion.
If any stockholder would like to make a comment regarding any of the proposals, please submit your comments through the web portal. There being no comments from stockholders in attendance, it is now 10:08 A.M. Eastern Time on April 13, 2026, and the polls are now open. Any stockholders who hasn't voted or wish to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Stockholders who have sent in proxies or voted by telephone or internet and do not want to change their vote do not need to take any further action. Now that everyone has had the opportunity to vote, I now declare the polls for the 2026 Annual Meeting of the stockholders closed.
As the Inspector of Election, I hereby report that the preliminary vote report shows that all of the nominees for election to the Board have been duly elected. The appointment of the Company's independent accountants for the fiscal year ending June 30th, 2026, has been approved, and the compensation of our Named Executive Officers has been approved by advisory vote. We will be reporting the final vote results in a current report on Form 8-K to be filed within four business days of today's meeting. With that, I turn the meeting over to Chenlong Tan, our CEO.
Thank you, Alice. There being no further business to come before the meeting, the 2026 Annual Meeting of Stockholders of iPower Inc is now adjourned.
Ladies and gentlemen, at this time, we would like to thank you for joining today's presentation. You may now disconnect your lines.