Good morning, ladies and gentlemen. I am Paul Grayson, Chairman of the Board of Directors of Skye Bioscience, Inc., and it is my pleasure to welcome all of you. It is 10:00 A.M. Pacific Time on this 26th day of May 2026, and in accordance with the notice of the meeting, I call to order the 2026 annual meeting of stockholders. I will be acting as chair of this meeting. Also present at the meeting today are the nominees for election of the company's board of directors and representative of CBAS CPAs, PC, which the audit committee of the board of directors has appointed as the company's independent registered public accounting firm for the fiscal year ending December 31st, 2026. Cynthia Scogland has been appointed to act as Inspector of Election.
The inspector of election has signed an oath of office faithfully execute their duties with strict impartiality and to the best of their ability, which will be filed with the minutes of this meeting. In this annual meeting, we will consider the proposal set forth in the proxy statement for the annual meeting. After the votes are counted, the meeting will be adjourned. This annual meeting is held pursuant to the notice of Internet availability of proxy materials made available on or about April 16th, 2026, to each stockholder of record on April 2nd, 2026, as well as the notice proxy statement, which were made available at the time of mailing. As of the close of business on the record date, there was 35,126,884 shares of common stock outstanding and entitled to vote.
Information on how to access the proxy materials, vote, and access the list of stockholders entitled to vote at this meeting may be found in the proxy materials. I have an affidavit of mailing from Broadridge Financial Solutions certifying as to the giving of notice of this annual meeting and the distribution of the proxy materials to stockholders of record as of the record date, all of which Broadridge commenced to distributing to stockholders on or about April 16, 2026. The proof of mailing will be filed with the minutes of this annual meeting. The inspector of election has advised me that the preliminary count indicates that 23,529,424 shares of common stock, representing approximately 66.98% of the shares entitled to vote at this annual meeting, are present via live webcast or represented by proxy, which constitutes a majority of the voting power of the outstanding common stock entitled to vote.
Therefore, I declare a quorum is present for purpose of conducting this business of the annual meeting. I will now present the proposals that are before the Skye stockholders today. Proposal one is to elect each of the six nominees named in the proxy statement to our board of directors to serve for one-year term expiring at the 2027 annual meeting of stockholders. The six nominees are Paul Grayson, Deborah Cherish, Punit Dhillon, Annalisa Jenkins, Karen Smith, and Andrew Schwab. Proposal two is to consider and vote upon the ratification of the selection of CBAS CPAs, PC as our independent registered public accounting firm for the year ending December 31st, 2026. Proposal three is to consider and vote upon approval of an amendment to our articles of incorporation to increase the number of authorized shares of our common stock from 100 million to 300 million.
Proposal four is to consider and vote upon an advisory basis the compensation of our named executive officers as described in the proxy statement pursuant to the compensation disclosure rules of the Securities and Exchange Commission. The polls are now open. Any stockholder who has not yet voted or wishes 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 via telephone or internet and do not want to change their vote do not need to take any further action. That concludes the voting on proposals. At this time, I hereby declare the polls closed. The proxies and virtual votes will now be counted. The preliminary results have been received, and the inspector of elections has reported that based on the last tabulation report, the stockholders have approved the following.
Each director nominee, Paul Grayson, Deborah Cherish, Punit Dhillon, Annalisa Jenkins, Karen Smith, and Andrew Schwab, has been elected as a director to serve one-year term until the 2027 annual meeting of stockholders. The appointment of CBAS CPAs, PC as our independent registered public accounting firm for the year ending December 31st, 2026, has been ratified. The amendment to our articles of incorporation to increase the number of authorized shares of our common stock from 100 million to 300 million has been approved, and the compensation of our named executive officers as described in the proxy statement has been approved on an advisory basis. Following confirmation of the preliminary voting results, the voting tabulation report of the inspector of elections will be filed with the records of this annual meeting.
The company will report the final vote results in a Form 8-K to be filed with the Securities and Exchange Commission within four business days. The business portion of the meeting is now adjourned. I will open the annual meeting for questions. There are no questions. This concludes today's annual meeting. I would again like to express my sincere appreciation to the stockholders who attended this annual meeting, as well as those who submitted their proxies but were not able to be present. Thank you and have a great day.