As of late afternoon trading, shares of Nxt-ID, Inc. (NASDAQ: NXTD) traded higher. The stock went to highs of over $1.06 at 14.72% in the late session, but the company has not announced any news since November 23, 2020. When the Company announced to hold the Annual Meeting of Stockholders at the company’s offices on Church Street in Oxford at 9:00 a.m. on Tuesday, November 24, 2020, at 9:00 a.m. Only Proposal 3 and 4 will be adjourned. Such adjournment will be made public at the normally scheduled Annual Meeting.
To allow the retail stockholders of the Company additional time to vote and approve Proposals Number 3 and No. 4, which were outlined in the Proxy Statement, the company has adjourned the Annual Meeting. Proposal Number 3 allows a reverse stock split to be effected at the company’s board’s discretion. The ratio can range from one-for-three to one-for-ten.
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No matter how many shares they own, every stockholder’s vote matters. The Company asks that its stockholders read the poll materials it distributed previously and cast their votes promptly. Stockholders can use their proxy control number to vote over the phone or on the Internet.
The number appears on the voting instructions form or accessed through the voting portal if the proxy materials were electronically delivered. Shareholders who have already voted against the reverse stock splits at the Annual Meeting must reconsider voting. The Company encourages stockholders who have already voted against the reverse stock splits to consider voting as well.