Business Context and Reporting Period
This Form 8-K is a current report filed by Probe Manufacturing, Inc. (not Clean Energy Technologies, Inc.) on November 29, 2012, regarding events occurring on November 28, 2012. The filing details the results of the Company's 2012 Annual Meeting of Stockholders.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and shareholder voting outcomes.
Material Changes and Voting Results
At the Annual Meeting, a quorum was established with 156,233,903 shares represented out of 199,069,056 shares entitled to vote. All three proposals were approved by the requisite vote:
- Proposal 1 (Director Election): Stockholders re-elected four directors (Kambiz Mahdi, John Bennett, Robert Young, and Shervin Talieh) for one-year terms. Votes were overwhelmingly in favor, with minimal shares withheld.
- Proposal 2 (Reverse Stock Split): Stockholders authorized a 10-to-1 reverse stock split of issued and outstanding common stock. This received 155,819,808 votes "For" and 414,095 votes "Against."
- Proposal 3 (Auditor Ratification): Stockholders ratified the appointment of W.T. Uniack & Co, CPA's, P.C. as the independent registered public accounting firm for the year ending December 31, 2012. This received 156,217,403 votes "For" with zero votes "Against."
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. The document serves strictly to disclose the submission of matters to a vote of security holders.
Important Facts for Investor Verification
- Verify the effective date and implementation details of the approved 10-to-1 reverse stock split.
- Confirm the updated share count and ticker symbol status following the reverse split.
- Review the definitive proxy statement (Schedule 14A filed November 27, 2012) for detailed biographies of the re-elected directors and executive compensation details.
- Note the discrepancy between the requested company name ("Clean Energy Technologies, Inc.") and the actual registrant ("Probe Manufacturing, Inc.") in the source text.