Good morning, ladies and gentlemen. Will this meeting please come to order? My name is Gary Atkinson, and I am the Chief Executive Officer and a Director. Welcome to the 2024 Annual Meeting of the Stockholders of Algorhythm Holdings, Inc. An agenda that outlines the order of business for the meeting has been made available.
The matters on which the stockholders at the meeting are voting are to: 1) elect six directors, 2) approve an amendment to our certificate of incorporation as amended to increase the number of shares of authorized common stock from 100 million to 800 million, 3) to grant discretionary authority to our board to: 1) amend our certificate of incorporation to combine outstanding shares of our common stock into a lesser number of outstanding shares or a reverse stock split at a specific ratio within a range of 1 for 10 to a maximum of 1 for 250 split, with the exact ratio to be determined by our board of directors in its sole discretion, and 2) effect the reverse stock split, if at all, within one year of the date of the proposal as approved by stockholders.
4) approve an amendment to our 2022 Equity Incentive Plan to amend the automatic increase (Evergreen Clause) within the 2022 Plan to increase the number of shares available under the 2022 Plan in future years. 5) ratify the selection of Marcum LLP as our independent registered public accounting firm to audit the consolidated financial statements of Algorhythm Holdings, Inc. for our fiscal year ending December 31, 2024. 6) authorize, for purposes of complying with Nasdaq Listing Rule 5635(d), the issuance of warrants, shares of common stock underlying the warrants and certain provisions of the warrants issued in connection with an offering and sale of securities of the company that was consummated on December 6, 2024.
7) approve one or more adjournments of the annual meeting if necessary or appropriate to solicit additional proxies in favor of the reverse stock split proposal, the authorized share increase proposal, the 2022 Plan amendment proposal, or the issuance proposal if there are not sufficient votes at the annual meeting to approve and adopt the reverse stock split proposal, the authorized share increase proposal, or the 2022 Plan amendment proposal. I would like to begin the meeting by introducing the current members of the company's board of directors: Bernardo Melo, Chief Revenue Officer; Mathieu Peloquin ; Harvey Judkowitz, Chair of the Audit Committee; Joseph Kling, Chair of the Compensation Committee; and Jay Foreman, Chair of the Nominating and Corporate Governance Committee. We also have Richard Perez, company's Chief Financial Officer, here on the line with us. Our directors are joining us virtually.
We also have representatives of our independent registered public accounting firm, Marcum LLP, joining us virtually. Richard Perez, the Chief Financial Officer of the company, will serve as Secretary of the meeting and record the proceedings. He has delivered an affidavit of Continental Stock Transfer and Trust Company, the registrar and transfer agent for our common stock, as to the mailing of the notice of meeting, together with the related proxy materials and notice of internet availability of proxy materials to all stockholders of record as of the close of business on November 15, 2024, the record date for this meeting. This affidavit is available if any stockholder wishes to examine it and will be filed within the minutes of this meeting. Richard will now discuss the procedures for transacting the business of the meeting.
Good morning. An agenda that outlines the order of business for the meeting has been posted on www.cstproxyvote.com/AlgorhythmHoldings/2024. The meeting will take place as described in the agenda. The rules of conduct have been posted on www.cstproxyvote.com/AlgorhythmHoldings/2024. We welcome questions and comments from our stockholders. Stockholders who would like to submit questions can submit questions online. The company will make every effort to answer all questions submitted in advance or asked during the meeting. However, if multiple questions are submitted on the same topic or are otherwise related, the company may group them, summarize them, and/or respond collectively. Please note that guests cannot ask questions during the meeting. When the report of the inspectors of election is complete, we will announce the results.
Thank you, Richard. I hereby appoint Richard Perez as Inspector of Election for the meeting and any adjournment or postponement of this meeting. He has signed an oath to act as Inspector of Election, and this oath will be filed within the minutes of this meeting. The inspector has the stockholder list of the company as of the close of business on November 15, the record date for determining stockholders eligible to vote at the meeting, which shows the stockholders and their respective number of shares entitled to vote. Richard has advised us that a quorum is present at the meeting, so I declare the meeting duly and lawfully convened. The meeting is now open and ready for business. The first item of business is the election of six directors of the company. The proxy statement listed the company's nominees for director.
The candidates for director who have been nominated to serve as directors by the company's Nominating and Corporate Governance Committee and Board of Directors are Gary Atkinson, Bernardo Melo, Mathieu Peloquin , Harvey Judkowitz, Joseph Kling, and Jay B. Foreman. No notice of the intent to nominate additional candidates for directors were received. Therefore, I declare the nominations for directors closed. For those of you who have not voted by proxy or if you previously voted by proxy and wish to change your vote, please mark the virtual ballot. Voting will continue until after all proposals have been presented. We will now move on to proposal number two. The second item of business is to approve an amendment to our certificate of incorporation as amended to increase the number of shares of authorized common stock from 100 million to 800 million.
For those of you who have not voted by proxy or if you previously voted by proxy and wish to change your vote, please mark the virtual ballot. Proposal number three. The third item of business is to grant discretionary authority to our board of directors to: 1) amend our certificate of incorporation to combine outstanding shares of our common stock into a lesser number of outstanding shares or a reverse stock split at a specified ratio within a range of 1-for-10 to a maximum of 1-for-250 split, with the exact ratio to be determined by our board of directors in its sole discretion, and 2) effect the reverse stock split, if at all, within one year of the date of the proposal as approved by stockholders.
For those of you who have not voted by proxy or if you previously voted by proxy and wish to change your vote, please mark the virtual ballot. Proposal number four. The fourth item of business is to approve an amendment to the company's 2022 Equity Incentive Plan to amend the automatic increase (Evergreen Clause) within the 2022 Plan to increase the number of shares available under the 2022 Plan as described in the proxy statement. For those of you who have not voted by proxy or if you previously voted by proxy and wish to change your vote, please mark the virtual ballot. Proposal number five. The fifth item of business is to ratify the selection of Marcum LLP as our independent registered public accounting firm to audit the consolidated financial statements of Algorhythm Holdings, Inc. for our fiscal year ending December 31, 2024.
For those of you who have not voted by proxy or if you previously voted by proxy and wish to change your vote, please mark the virtual ballot. Proposal number six. The sixth item of business is to authorize, for purposes of complying with Nasdaq Listing Rule 5635(d), the issuance of warrants, shares of common stock underlying the warrants, and certain provisions of the warrants issued in connection with an offering and sale of securities of the company that was consummated on December 6, 2024. For those of you who have not voted by proxy or if you previously voted by proxy and wish to change your vote, please mark the virtual ballot. Finally, Proposal number seven.
The seventh item of business is to approve one or more adjournments of the annual meeting if necessary or appropriate to solicit additional proxies in favor of the reverse stock split proposal, the authorized share increase proposal, the 2022 Plan amendment proposal, or the issuance proposal if there are not sufficient votes at the annual meeting to approve or adopt the reverse stock split, the authorized share increase, the 2022 Plan amendment proposal, or the issuance proposal. For those of you who have not voted by proxy or if you previously voted by proxy and wish to change your vote, please mark the virtual ballot. The Inspector of Election will report on the results of the voting later in the meeting after tabulation has been completed. At this time, I would like to open up the meeting for questions and address questions that were submitted by stockholders.
Please refer to the rules of procedure with respect to how questions are to be handled. Only matters that may concern all stockholders should be raised at this time. Any matter of individual concern to a stockholder should be raised after the meeting when representatives of the company will respond to your questions. I'm not seeing any questions in the queue right now, so we'll continue to move on. I understand that the votes have been counted and the preliminary report of the Inspector of Election is ready. Richard, will you please announce the results of the stockholder vote?
The total shares that have been voted are 9,029,136. Of those votes, 8,501,734 are yes, 527,295 are no, and 107 abstain. The preliminary report of the Inspector of Election indicates that Gary Atkinson, Bernardo Melo, Mathieu Peloquin , Harvey Judkowitz, Joseph Kling, and Jay B. Foreman have been elected as directors by the stockholders. Each candidate received the affirmative votes representing more than a plurality of the votes cast at the meeting. The amendment to our certificate of incorporation as amended to increase the number of shares of authorized common stock from 100 million to 800 million has been approved by the stockholders by votes representing more than a majority of the vote cast at the meeting.
The proposal to grant discretionary authority to our board of directors to amend our certificate of incorporation to combine outstanding shares of our common stock into a lesser number of outstanding shares or a reverse stock split at a specific ratio with a range of 1 for 10 to a maximum of 1 for 250 split, with the exact ratio to be determined by our board of directors in its sole discretion, and 2) effect the reverse stock split, if at all, within one year of the date the proposal is approved by stockholders has been approved by the stockholders by votes representing more than the majority of the votes cast at the meeting.
The amendment to the company's 2022 Equity Incentive Plan to amend the automatic increase (Evergreen Clause) within the 2022 Plan to increase the number of shares available under the 2022 Plan in future years has been approved by the stockholders by votes representing more than a majority of the votes cast at the meeting. Ratification of the selection of Marcum LLP as our independent registered public accounting firm to audit the consolidated financial statements of Algorhythm Holdings, Inc. for our fiscal year ending December 31, 2024 has been approved by the stockholders by votes representing more than a majority of the votes cast at the meeting.
The authorization for purposes of complying with Nasdaq Listing Rule 5635(d), the issuance of warrants, shares of common stock underlying the warrants, and certain provisions of the warrants issued in connection with an offering and sale of securities of the company that was consummated on December 6, 2024 has been approved by the stockholders by votes representing more than a majority of the votes cast at the meeting.
One or more adjournments of the annual meeting, if necessary or appropriate, to solicit additional proxies in favor of the reverse stock split proposal, the authorized share increase proposal, the 2022 Plan amendment proposal, or the issuance proposal if there are not sufficient votes at the annual meeting to approve and adopt the reverse stock split proposal, the authorized share increase proposal, the 2022 Plan amendment proposal, or the issuance proposal has been approved by the stockholders by votes representing more than a majority of the votes cast at the meeting.
Thank you, Richard. I hereby request that the final report of the Inspector of Election be filed with the minutes of this meeting and reported in a current report on Form 8-K. You have now heard the results of the voting, and this completes the business to be conducted at this meeting. Since there are no other matters to come before the meeting, I hereby declare this meeting adjourned. I would like to take this opportunity to thank all of you for your attendance and your interest today. Thank you all.
The meeting will go on air at the scheduled time on the meeting webpage.