Aethlon Medical, Inc. Reports Annual Meeting Results
93.5% Of Outstanding Shares Participated In Voting
SAN DIEGO, March 30, 2016 /PRNewswire/ -- Aethlon Medical, Inc. (Nasdaq: AEMD), today reported the results of its Annual Meeting of Stockholders completed on March 29, 2016 in San Diego, California.
All proposed motions were approved by stockholders. Based on the report from the Inspector of Elections, 7,128,995 shares of 7,622,393 shares outstanding, or 93.5%, were present or represented at the meeting and participated in the voting.
In the motion requiring greater than 50% of shares outstanding, which was for an increase in the Company's authorized shares of common stock from 10 million shares to 30 million shares, 73.8% of shares outstanding voted for the measure. This represented 78.9% of shares that voted on the measure.
In the motions that required greater than 50% of shares voted, the following directors were elected by the stockholders: James Joyce, Chairman and CEO; Rodney Kenley, President; Franklyn Barry; Edward Broenniman; and Chetan Shah, all of whom received positive votes of approximately 86% of shares voted. The appointment of Squar Milner LLP as independent registered public accounting firm for the fiscal year ending March 31, 2016 was approved by the stockholders by 88% of shares voted and the proposal to approve the Company's Amended 2010 Stock Incentive Plan was also approved by the stockholders with over 80% of shares voted for the measure.
Final vote totals for each action will be included in a Current Report on Form 8-K to be filed with the United States Securities and Exchange Commission.
Jim Joyce, Chairman and Chief Executive Officer of Aethlon Medical, Inc. said, "We are truly humbled by the overwhelming participation of our shareholders, who voted to approve each of our corporate proposals."
About Aethlon Medical, Inc.
Aethlon Medical creates affinity biofiltration devices to treat life-threatening diseases. The Aethlon Hemopurifier® is a leading broad-spectrum treatment countermeasure against infectious viral pathogens. The device, which has been successfully administered to individuals infected with HIV, Hepatitis C (HCV) and Ebola virus, is currently the subject of FDA approved clinical studies. Aethlon is also studying the potential use of the Hemopurifier® to address exosomes secreted by tumors to promote the spread of metastasis and suppress the immune system of cancer patients. The Company provides government contracting services to the Defense Advanced Research Projects Agency (DARPA) related to the development of a biofiltration device to treat sepsis and maintains majority ownership of Exosome Sciences, Inc., which is focused on the discovery of exosomal biomarkers to diagnose and monitor Chronic Traumatic Encephalopathy (CTE) and other neurological disorders. Additional information can be found online at www.AethlonMedical.com or you can connect with us on Twitter, LinkedIn, Facebook and Google+.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks and uncertainties. Statements containing words such as "may," "believe," "anticipate," "expect," "intend," "plan," "project," "will," "projections," "estimate," or similar expressions constitute forward-looking statements. Such forward-looking statements are subject to significant risks and uncertainties and actual results may differ materially from the results anticipated in the forward-looking statements. Factors that may contribute to such differences include, without limitation, the Company's ability to maintain its listing on the Nasdaq Capital Market, or any other national securities exchange, that the Company or its subsidiary will not be able to commercialize its products, that the FDA will not approve the initiation or continuation of the Company's clinical programs or provide market clearance of the Company's products, including products developed by Exosome Sciences, Inc., the Company's ability to raise capital when needed, the Company's ability to complete the development of its planned products, the Company's ability to manufacture its products either internally or through outside companies, the impact of government regulations, patent protection on the Company's proprietary technology, the ability of the Company to meet the milestones contemplated in its contract with DARPA, product liability exposure, uncertainty of market acceptance, competition, technological change, and other risk factors. The foregoing list of risks and uncertainties is illustrative, but is not exhaustive. Additional factors that could cause results to differ materially from those anticipated in forward-looking statements can be found under the caption "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended March 31, 2015, and in the Company's other filings with the Securities and Exchange Commission. Except as may be required by law, the Company does not intend, nor does it undertake any duty, to update this information to reflect future events or circumstances.
Mike Smargiassi/Brad Edwards
Brainerd Communicators, Inc
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SOURCE Aethlon Medical, Inc.
Released March 30, 2016