AccuStem Announces Adjournment of Annual Meeting of Stockholders

Rhea-AI Summary

AccuStem Sciences (OTCQB: ACUT) announced the adjournment of its 2022 annual stockholders' meeting due to a lack of quorum. Originally scheduled for October 10, 2022, the meeting has been rescheduled for October 14, 2022. Proxies from stockholders represent approximately 36% of the outstanding shares. The company aims to solicit additional votes during this period. Stockholders of record as of September 14, 2022, are encouraged to vote by October 13, 2022. AccuStem focuses on enhancing cancer patient outcomes through proprietary molecular testing.

Positive

• AccuStem's focus on improving cancer patient outcomes through innovative molecular testing.
• The company has engaged 36% of shareholders to participate in key decision-making.

Negative

• The lack of quorum may indicate low shareholder engagement or dissatisfaction.
• The adjournment of the meeting could delay important business decisions.

LONDON and PHOENIX, Oct. 10, 2022 (GLOBE NEWSWIRE) -- AccuStem Sciences, Inc. (OTCQB:ACUT), a clinical stage diagnostics company dedicated to improving outcomes for patients with cancer, announced today that its 2022 annual meeting of stockholders (the “Annual Meeting”) on October 10, 2022 at 9:00 a.m. Eastern Time was convened and adjourned, without any business being conducted, due to lack of the required quorum.

A quorum consists of a majority of the outstanding shares entitled to vote. There were fewer than a majority of outstanding shares entitled to vote, either present virtually or represented by proxy, at the Annual Meeting. The Annual Meeting therefore had no quorum and was adjourned to 9:00 a.m. Eastern Time on October 14, 2022 to allow additional time for the Company’s stockholders to vote on the proposals set forth in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on September 14, 2022.

During the period of adjournment, the Company will continue to solicit votes from its stockholders with respect to the proposals set forth in the proxy statement.

Only stockholders of record as of the record date, September 14, 2022, are entitled to and are being requested to vote. At the time the Annual Meeting was adjourned, proxies had been submitted by stockholders representing approximately 36% of the shares of the Company’s common stock outstanding and entitled to vote at the Annual Meeting. Proxies previously submitted in respect of the Annual Meeting will be voted at the adjourned Annual Meeting unless properly revoked, and stockholders who have previously submitted a proxy or otherwise voted need not take any action.

AccuStem encourages all stockholders of record on September 14, 2022 who have not yet voted or who wish to change their vote to do so by 11:59 p.m. Eastern Time on October 13, 2022.

About AccuStem

AccuStem is a clinical stage diagnostics company dedicated to optimizing outcomes and quality of life for all patients with cancer. We plan to drive innovation in healthcare by offering proprietary molecular testing that addresses unmet clinical needs from cancer screening through treatment and monitoring. By interrogating novel disease pathways, such as tumor “stemness”, we believe our tools will help care teams better understand the biology of each patient’s cancer, leading to more informed decision making. For more information, please visit www.accustem.com.

Forward-Looking Statements

This press release contains “forward-looking statements” Forward-looking statements reflect our current view about future events. When used in this press release, the words “anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,” “plan,” or the negative of these terms and similar expressions, as they relate to us or our management, identify forward-looking statements. Such statements, include, but are not limited to, statements contained in this press release relating to our business strategy, our future operating results and liquidity and capital resources outlook. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. They are neither statements of historical fact nor guarantees of assurance of future performance. We caution you therefore against relying on any of these forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, without limitation, our ability to raise capital to fund continuing operations; our ability to protect our intellectual property rights; the impact of any infringement actions or other litigation brought against us; competition from other providers and products; our ability to develop and commercialize products and services; changes in government regulation; our ability to complete capital raising transactions; and other factors relating to our industry, our operations and results of operations. Actual results may differ significantly from those anticipated, believed, estimated, expected, intended or planned.

Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and other factors described more fully in the section entitled ‘Risk Factors’ in AccuStem Sciences, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2021, and other periodic reports filed with the Securities and Exchange Commission. We cannot guarantee future results, levels of activity, performance or achievements. AccuStem Sciences, Inc. assumes no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

Media Contact:
Jeff Fensterer, Chief Operations Officer
Phone: 415-640-6010
Email: jeff@accustem.com

Investor Contact:
Wendy Blosser, Chief Executive Officer
Email: investors@accustem.com

FAQ

Why was the 2022 annual meeting of AccuStem Sciences adjourned?

The annual meeting was adjourned due to a lack of quorum, with fewer than the required majority of shares entitled to vote present.

When will the rescheduled annual meeting for AccuStem Sciences take place?

The rescheduled annual meeting will take place on October 14, 2022, at 9:00 a.m. Eastern Time.

What percentage of shares were represented at the adjourned meeting of AccuStem?

Approximately 36% of the outstanding shares entitled to vote were represented at the adjourned meeting.

What should stockholders do if they want to vote on AccuStem's proposals?

Stockholders who have not yet voted or wish to change their vote should do so by 11:59 p.m. Eastern Time on October 13, 2022.

What is AccuStem Sciences' mission?

AccuStem Sciences aims to improve cancer patient outcomes through proprietary molecular testing that addresses unmet clinical needs.