Ladies and gentlemen, to EchoStar Corporation's twenty twenty one Virtual Shareholder Meeting. I am Dean Manson, the Secretary for EchoStar Corporation. It is now 11:30 a. M. Mountain Time, so let's get started.
I'll turn the call over to Charlie Ergen, our Chairman.
Good morning, and thank you for joining our virtual meeting of shareholders. I'm Charlie Ergen, the Chairman of EchoStar Corporation, and I'll be serving as the Chairman for today's meeting. The polls are open for voting. If you have a question, you may submit it via the meeting portal. All of our current members of the board are in attendance in person or virtually today's meeting.
Also present is Chris McCurdy, a representative of KPMG, our independent registered public accounting firm. I'll now ask mister Manson, as secretary for the meeting, to present proof that
the notice of meeting has been properly given. Thank you, mister chairman. I'm pleased to confirm that notice of this meeting has been due and that a proxy statement was duly sent to all of the company's shareholders of record as of 03/03/2021, and additional proxy materials were filed with the Securities and Exchange Commission.
Thank you, mister secretary. Michael D has been appointed as an Inspection of Elections for this meeting. Inspector has filed his oath of office with the company along with his certificate stating that the holders of a quorum of voting securities of the company at present virtually are represented by proxy at this meeting. The proposals to be voted on were set forth in our proxy statement. There are three of them, the election of eight directors, the ratification and appointment of KPMG as an independent registered public accounting firm for the company for the fiscal year ending 12/31/2021, and the approval of an amendment to the EchoStar Corporation 2017 non employee director stock incentive plan as represented in the proxy statement.
We'll now pause for a few seconds before the closing of polls to allow any final votes to go through our electronic portal. The polls are now closed,
and the inspector of elections has completed his preliminary tabulation. Mister secretary, may I have your report? Mister chairman, the preliminary tabulation of the inspector is as follows. Based on the votes cast in person and by proxy, all three proposals have received more than 95 of the total required vote and are therefore passed.
There being no further business, the formal portion of the meeting is hereby adjourned. We will now entertain questions from shareholders about the items voted upon by the shareholders at this meeting or anything else for that matter. As usual, updates regarding EchoStar's business and financial performance will be addressed in our earnings call, which is tentatively scheduled for May 6 and will be formally announced soon. And I think we have one question. I see that basically comes in and says, your stock price has trended down for a year.
What actions are you planning to reverse this trend and at what time? And I'll try to take that and maybe Mike, you want to if you have something you want to add. But obviously, we're disappointed in the stock price. We've been in a situation where we've continued our core business and we've done a few things that are obviously longer term, which take time for sometimes the market to react to. But obviously, we continue to grow our existing business.
We have a lot of things that we're doing within other frequencies that we think have long term connectivity. We know a lot about where the terrestrial five gs world is going and think that satellite is going play a big role there. But we also have to be cognizant of what is happening around us. So we looked at a lot of things happening in the LEO business, which are which we have a lot of experience now with OneWeb with a small investment, but also from a technical point of view, where we've done a lot of their ground network infrastructure for them. And we're a little bit more cautious maybe than other people.
And we think that but we see lots of opportunity. We think that there's in the satellite space and sometimes patience is rewarded and we think that at this point in time, where a lot of valuations and a lot of technical projects that we think are going to be challenged, this is a good time to continue to monitor those things and but focus on our day to day business with the biggest thing being the successful completion of Jupiter three, and the launch of Jupiter three, which adds a lot of capacity Mike, you might want to add?
Yes, got it. I probably as disappointed as anybody because we continue to hit all the numbers, we continue to deliver good quarters, we've expanded our international business significantly outside The U. S. Our team did a great job through the pandemic. And I think we have a lot of value that's just unrecognized right now.
And I'm really looking forward to prove all the naysayers wrong as we continue through this year and get, as Charlie said, Jupiter three is a big deal. But we also have an awful lot of expanded contracts for the Jupiter three architecture that have nothing to do with the Jupiter three satellite, but in fact are servicing a lot of our key customers. So I guess that's my comment.
I mean, I think the key is that we try to build value every day, even if it's not kind of seeing all at once and sometimes it takes a bit of time. But there is plenty of opportunity out there, and we are have a strong balance sheet. So we do think that not only in our core business growing it, but we do think there's opportunity to use our balance sheet.
Great. Thanks, Charlie and Mike. Mr. Chairman, there are no further questions.
All right. With that, thanks everybody for joining us today. Sorry, it's so short. Sorry that we can't do it in person, but I look forward to next year when we can do that.