Predictive Oncology’s (NASDAQ: POAI) Board of Directors has announced that it will cancel the Special Meeting of Stockholders that was scheduled for today. Originally scheduled for Dec. 1, 2020, the meeting was adjourned on that date and rescheduled for Dec. 30 because a quorum had not been reached. As of the rescheduled date, the required quorum had still not been reached, with only 47% of the outstanding shares having been voted. In cancelling the meeting, the Board of Directors for POAI, a knowledge-driven company focused on applying artificial intelligence (“AI”) to personalized medicine and drug discovery, noted that it was not practical to incur the cost of continuing to adjourn the meeting to solicit proxies, because approval of the reincorporation proposal would require not just a majority of the shares voted but the affirmative vote of a majority of the company’s outstanding shares. The board observed that nearly 88% of the shares that had been voted at the special meeting were in support of the proposed reincorporation of the company from Delaware to Nevada; the reason for that proposal is, in part, because of Delaware’s steep franchise taxes. The board will continue to pursue stockholder approval for reincorporation.
To view the full press release, visit https://ibn.fm/p3bSh
About Predictive Oncology Inc.
Predictive Oncology operates through three segments (Skyline, Helomics and Soluble Biotech), which contain four subsidiaries: Helomics, TumorGenesis, Skyline Medical and Soluble Biotech. Helomics applies artificial intelligence to its rich data gathered from patient tumors to both personalize cancer therapies for patients and drive the development of new targeted therapies in collaborations with pharmaceutical companies. TumorGenesis Inc. specializes in media that help cancer cells grow and retain their DNA/RNA and proteomic signatures, providing researchers with a tool to expand and study cancer cell types found in tumors of the blood and organ systems of all mammals, including humans. Skyline Medical markets its patented and FDA-cleared STREAMWAY System, which automates the collection, measurement and disposal of waste fluid, including blood, irrigation fluid and others, within a medical facility, through both domestic and international divisions. Soluble Biotech is a provider of soluble and stable formulations for proteins including vaccines, antibodies, large and small proteins and protein complexes. For more information about the company, please visit www.Predictive-Oncology.com.
NOTE TO INVESTORS: The latest news and updates relating to POAI are available in the company’s newsroom at http://ibn.fm/POAI
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