Shareholders were asked to vote for Gerard Cavanaugh and Michael Kozole CPA as Directors to replace Michael Fernandez and Dan Shields as Directors of the Company. A total of 113,086,663 shares out of the Company's 202,475,200 issued and outstanding shares as of the record date (55.85%) were voted and the results are shown in the table below:
|Gerard Cavanaugh as Director||109,732,458||3,093,151||315,054||113,086,663|
|Michael Kozole CPA as Director||109,689,321||3,093,788||303,554||113,086,663|
The percentage of shares voting that are necessary for a quorum for a shareholder meeting is 50.1% of the issued and outstanding shares, which in the case of TMM, Inc. in terms of actual shares voting needed for a quorum was 101,440,075 shares. The TMM, Inc. shareholder meeting had the necessary quorum and the voting shareholders voted overwhelmingly (97.03% - For versus 2.7% - Against) to replace Michael Fernandez and Daniel Shields with Gerard Cavanaugh and Michael Kozole as Directors of the Company.
In addition, the new Board of Directors by unanimous Consent also appointed Mr. Cavanaugh and Mr. Kozole as officers of the Company with the following titles:
Gerard V. Cavanaugh: President and Chairman of the Board
Michael K. Kozole: Treasurer and Secretary
Gerard Cavanaugh has over 35 years creating innovative business solutions, devising strategies and executing tactics for some of the world's leading companies in helping client companies in a broad spectrum of industries grow and prosper. Michael Kozole, CPA, is a Certified Public Accountant in public practice since 1978 and has prepared financial statements and reports analyzing corporate financial data for planning and decision making purposes.
It is the intention of such new Directors and management to restore the Company to a proper functioning corporation which will enable TMM, Inc. to pursue business opportunities with its technology and build long-term shareholder value.
Shareholders who are interested in receiving electronic corporate information are encouraged to register at the company's website at http://www.tmmi.us. Shareholders can now contact the company at 1-800-821-9877.
The information in this release contains forward-looking statements which involve risks and uncertainties, including statements regarding the Company's capital needs, business strategy and expectations. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements, which may be identified by terminology such as "may," "should," "will," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "forecast," "project," or "continue," the negative of such terms or other comparable terminology. Readers should not rely on forward-looking statements as predictions of future events or results. Any or all of the Company's forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions, risks and uncertainties and other factors which could cause actual events or results to be materially different from those expressed or implied in the forward-looking statements. Factors may cause the Company's actual results to differ materially from any forward-looking statement. In addition, new factors emerge from time to time and it is not possible for the Company to predict all factors that may cause actual results to differ materially from those contained in any forward- looking statements. The Company disclaims any obligation to publicly update any forward-looking statements to reflect events or circumstances after the date of this document, except as required by applicable law.