Company: BGLC
Filing Date: 2025-02-27
Form Type: DEF 14A
Source: 0001477932-25-001335
Chunk: 7

Company: BioNexus Gene Lab Corp
Filing Date: 2025-02-27
Form: DEF 14A
Chunk 7
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 (i) 5,017,967,663 votes are entitled to be cast at the meeting with respect to the Reverse Stock Split Proposal and 17,967,663 are entitled to be cast at the meeting with respect to the Adjournment Proposal. Abstentions and broker non-votes count as present for establishing a quorum but will not be counted as votes cast. If a quorum is not present, the meeting may be adjourned until a quorum is obtained. The Series Z Preferred Stock will not count toward establishing a quorum.

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In order to attempt to procure the vote necessary to effect the reverse stock split, on February 10, 2025, we issued one share of a new Series Z Preferred Stock. The terms of the new Series Z Preferred Stock (the “Series Z Preferred Stock”) are set forth in an Articles of Amendment (the “Amendment”), received by the Wyoming Secretary of State on February 11, 2025. The Series Z Preferred Stock does not have any voting rights except with respect to this Reverse Stock Split Proposal. With respect to the Reverse Stock Split Proposal, the outstanding share of the Series Z Preferred Stock is entitled to 5,000,000,000 votes on such proposal, however, the votes by the holder of the Series Z Preferred Stock will be counted in the same “mirrored” proportion as the aggregate votes cast by the holders of our common stock who vote on this proposal. For example, if 50.5% of the shares of common stock voted in person or by proxy at the Special Meeting are voted FOR this Proposal, then we will count 50.5% of the votes cast (or 2,525,000,000 votes) by the holder of the Series Z Preferred Stock as votes FOR this Proposal. Holders of common stock and preferred stock will vote on the Reverse Stock Split Proposal as a single group.

All votes will be tabulated by our inspector of elections for the Special Meeting, who will separately tabulate affirmative and negative votes, abstentions and “broker non-votes” (i.e., shares held by a broker or other nominee having discretionary power to vote on some matters but not others). Broker non-votes occur when your broker or other nominee submits a proxy for your shares (because the broker or other nominee has received instructions from you on one or more proposals, but not all, or has not received instructions from you but is entitled to vote your shares on a particular “discretionary” matter)