LogicMark, Inc. Issues Letter Urging Shareholders to Vote “For” All Annual Meeting Proxy Proposals to Strengthen the Company’s Ability to Create Lasting Shareholder Value
For information about the 2022 Annual Meeting please visit https://www.logicmark.com
The full text of the letter follows.
Dear Fellow Shareholders,
Since joining
With our recent introduction of our new Direct-to-Consumer sales channel and new website and e-commerce platform, we have set the stage for deeper connections with our customers and stronger growth. We are far along in our new product development efforts, incorporating advanced artificial intelligence and machine learning into exciting new products with features that extend the care path and security for families focused on loved ones’ aging-in place and enhanced remote activity monitoring. Our growth plans are based upon expanding our product and service offerings and entering new markets, deepening existing and diversifying new revenue generation to continue driving steady growth, increase our margins and create lasting shareholder value.
Our shareholder value creation strategies are inherently tied to our continued execution, strong management and
While we have made significant progress over the past year in improving the overall business and focusing on the initiatives that are aimed at driving shareholder value creation, there is still a lot of work to do. With your support, we are confident in a very bright future for
Vote “For” for Proposal No. 1: The members of the Board of Directors each has the expertise and experience the company believes necessary to support the Company’s continued transformation into a technology company focused on building solutions for the new care economy. Over the last year, the Company has added three new Board members who bring experience with technology, strategic marketing, rapid growth, and expertise in the care economy.
Vote “For” Proposal No. 2: Management considers the selection of
Vote “For” for Proposal No 3: The Company believes that the 2022 Plan will allow it to continue to attract able directors, employees, consultants, and independent contractors and enable them to acquire and maintain Common Stock ownership in the Company. Concurrent with the adoption of this new Plan, the Company’s two existing stock incentive plans: the 2013 Plan and the 2017 Plan, will be terminated and the Company intends for potential dilution to shareholders to be reduced from 20% to 15%, as a result. The 2022 Plan also has no provision permitting the Company to reprice options. The Company, its new board, and new senior officers are committed to continuing to drive value and change for the benefit of our stockholders and adopting the 2022 Plan is one such undertaking to assist the effort to accomplish this.
Vote “For” Proposal No. 4: The Company expects that its re-incorporation from
All votes are important, regardless of the number of shares owned. Shareholders as of the annual meeting record date,
On behalf of the Board of Directors, I wish to thank our shareholders for your continued support and look forward to making 2022 and beyond a highly transformative and rewarding period for
Sincerely,
CEO of
Forward-Looking Statements
This letter contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this letter, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company’s business strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company’s ability to implement its long range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; the Company’s ability to maintain its Nasdaq listing for its common stock; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the
ADDITIONAL INFORMATION
We have filed the Definitive Proxy Statement on Schedule 14A (the “Proxy Statement”) with the
About
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company’s business strategy. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, our ability to establish and maintain the proprietary nature of our technology through the patent process, as well as our ability to possibly license from others patents and patent applications necessary to develop products; the availability of financing; the Company’s ability to implement its long range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition, the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; the Company’s ability to maintain its Nasdaq listing for its common stock; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the
Investor Relations Contact:
CORE IR
Investor@logicmark.com
516 222 2560
Media:
917 885 7378
Source: LogicMark, Inc.