Business Context and Reporting Period
This Form 8-K reports on the 2022 Annual Meeting of Shareholders held by Focus Universal Inc. on May 18, 2022. The company is incorporated in Nevada and its common stock trades on the Nasdaq Global Market under the symbol FCUV.
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 events and shareholder voting results.
Material Changes and Voting Results
As of the record date (March 21, 2022), there were 43,259,741 shares outstanding. A total of 26,758,266 shares were represented at the meeting, establishing a quorum.
Proposal One: Election of Directors
All seven nominees were elected to the Board of Directors. The voting breakdown was as follows:
| Nominee | Votes For | Votes Withheld | Broker Non-Votes |
|---|---|---|---|
| Dr. Desheng Wang | 25,824,118 | 1,830 | 932,318 |
| Dr. Edward Lee | 25,798,818 | 27,130 | 932,318 |
| Dr. Jennifer Gu | 25,798,784 | 27,164 | 932,318 |
| Michael Pope | 25,708,432 | 117,516 | 932,318 |
| Sheri Lofgren | 25,705,560 | 120,388 | 932,318 |
| Carine Clark | 25,726,709 | 99,239 | 932,318 |
| Greg Butterfield | 25,734,210 | 91,738 | 932,318 |
Proposal Two: Ratification of Auditors
Shareholders ratified the selection of BF Borgers CPA PC as the independent registered public accounting firm for the fiscal year ending December 31, 2022.
- Votes For: 26,730,162
- Votes Against: 24,163
- Abstentions: 3,941
Guidance, Outlook, and Risks
The filing text does not provide a clear value for financial guidance, management outlook, specific risks, contingencies, or unusual items. The document is limited to the disclosure of voting outcomes.
Key Facts for Investor Verification
- Verify the continued listing status of FOCUS UNIVERSAL INC. (FCUV) on the Nasdaq Global Market.
- Confirm the tenure of the newly elected Board of Directors, which extends until the 2023 annual meeting.
- Review the upcoming 2022 annual report to assess the financial performance of the company, as no financial data was included in this 8-K.
- Note the significant number of broker non-votes (932,318) on the director election, indicating shares held by brokers that were not voted on this matter.