Company: BGLC
Filing Date: 2025-03-25
Form Type: 8-K
Source: 0001477932-25-001958
Chunk: 0

Company: BioNexus Gene Lab Corp
Filing Date: 2025-03-25
Form: 8-K
Item: Item 5.07
Chunk 0
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Item 5.07 Submission of Matters to a Vote of Security Holders.

On March 19, 2025, BioNexus Gene Lab Corp. (the "Company") held a Special Meeting of Shareholders (the "Meeting"). A quorum was established for the meeting, and the matters submitted to a vote and the final voting results are set forth below.

The following results include the votes of common stock held by our shareholders along with the Series Z Preferred Stock. As previously reported, the Series Z Preferred Stock was created on February 12, 2025, and the holder of the Series Z Preferred Stock is entitled to vote along with holders of the common stock as a single class exclusively on the Reverse Stock Split proposal at a duly authorized shareholder meeting to be conducted during calendar year 2025. The Series Z Preferred Stock will not be entitled to vote on any other matters, nor be counted for purposes of quorum, except to the extent required under the Wyoming Business Corporations Act. The Series Z Preferred Stock carries 5,000,000,000 votes and will proportionately “mirror” the votes placed by the common stockholders of the Company at the Special Shareholders’ Meeting.

Proposal 1: Approval of Reverse Stock Split

Description: Approval of an amendment to the Amended and Restated Certificate of Incorporation to effect a reverse stock split of the Company’s outstanding shares of common stock, with a ratio ranging from one-for-five (1:5) to one-for-ten (1:10), with the exact ratio to be set at the discretion of the Board of Directors.

  Vote Type      Total Votes Cast      Percentage of Total Votes  
 ──────────────────────────────────────────────────────────────────
  FOR            4,935,717,085.39      98.36%                     
  AGAINST           70,896,462.10      1.41%                      
  ABSTAIN                   7,652      < 1%                       

Result: Proposal 1 was APPROVED.

Proposal 2: Approval of Adjournment of the Special Meeting (if necessary)

Description: Approval of an adjournment of the Meeting, if necessary, to solicit additional proxies if there were insufficient votes in favor of Proposal 1.

  Vote Type      Total Votes Cast      Percentage of Total Votes  
 ──────────────────────────────────────────────────────────────────
  FOR                6,528,548.76      98.60%                     
  AGAINST                  83,342