I will cover each of the proposals in more detail and there will be an opportunity for shareholder questions on the proposals following the presentation of the proposals and before voting on the proposals take place. Following a vote on proposals of the shareholders, we will conclude the business portion of the meeting.
We have available for inspection a list of all shareholders as of the record date and proof of due calling of the meeting. In addition, I have received an oath signed by Mr. Christensen, the Inspector of Election which is available for your examination and will be filed within minutes of this meeting stating that he will faithfully execute with strict and partiality, his duty as Inspector of Election.
I have been informed by the Inspector of Election that we have a quorum of votes represented in person or by proxy for the meeting. Accordingly, I declare that a quorum is present, the meeting is properly constituted and convened for the purpose of transacting such business as may properly come before.
The first order of business to be discussed is the election of directors. We have three nominees for directors. If elected these directors will serve until the 2015 Annual Meeting of shareholders. All nominees are currently members of our Board of Directors.The nominees are Richard L. Love, Dr Mary Mundinger, and Dr. Jack Singer. Do I hear a motion for the election of the individuals to our Board of Directors to serve until our 2015 annual meeting of shareholders. Do I hear a second? A motion to elect these nominees has been made and seconded. As there is no discussion, we will proceed to vote. Second matter to be considered is the proposal to approve an increase in the number of shares of our authorized stock from 384,999,999 shares to 751,666,666 shares and an increase in the number of shares of our common stock authorized for issuance from 383,333,333 shares to 750 million.