Good morning. I am Jim Parslow, Interim Chief Executive Officer of Xenetic Biosciences, and I welcome you back to the Xenetic Biosciences, Inc. 2025 stockholders' meeting. Before I call the meeting to order, I would like to introduce you to the company's auditors, CBIZ CPAs PC, who are attending the virtual meeting and are available to respond to appropriate questions, as well as representatives from the law firm, Holland & Knight LLP, who have also joined the virtual meeting. The meeting will now officially come to order. We will proceed with the formal business of the meeting as set forth in your Notice of Annual Meeting and Proxy Statement. As the secretary, I have at this meeting a complete list of the stockholders of record of the company's common stock on October 15, 2025, the record date for this meeting.
The list of stockholders of the company entitled to vote has been available at the offices of the company for examination by stockholders for at least 10 days prior to this meeting and is also available to stockholders for examination during the whole time of this meeting at the annual meeting website. I also have an affidavit certifying that on October 31, 2025, a Notice of Annual Meeting of stockholders of the company was deposited in the United States mail to all stockholders of record at the close of business on October 15, 2025. As inspector of election at this meeting, I have taken and subscribed the customary oath of office to execute my duties with strict impartiality. We will file this oath with the records of the meeting.
My function is to decide upon the qualifications of voters, accept their votes, and when balloting on all matters is completed, to tally the final votes. I will now report at this time with respect to the existence of a quorum. Proxies have been received for 961,887 of the 2,277,139 shares of common stock outstanding on the record date, which represents approximately 42% of the total number of outstanding shares. Unfortunately, this does not constitute a quorum for the transaction of business. Are there any additional proxies to be submitted at this time? Since we do not have a quorum present, we cannot proceed with the transaction of business at this time.
As a result, in accordance with applicable law and the bylaws of the company, notice is hereby given that this meeting will be adjourned to a date and time to be announced at a later date. This concludes the formal portion of today's meeting, and the meeting is hereby adjourned. The company's board of directors will determine a new date and time to hold the 2025 annual stockholders' meeting. This concludes our virtual meeting, and I thank you for participating today.