Cyclo Therapeutics, Inc. 8-K Report: Key Shareholder Decisions & Corporate Restructuring

Here are the key insights and important information extracted from the provided section of the financial report (Form 8-K) for Cyclo Therapeutics, Inc.:

1. Filing Details:

• Form Type: 8-K
• Date of Report: October 22, 2020
• Company Name: Cyclo Therapeutics, Inc.
• State of Incorporation: Florida
• IRS Employer Identification No.: 59-3029743
• Principal Executive Offices Address: 6714 NW 16th Street, Suite B, Gainesville, Florida 32563
• Contact Phone Number: 386-418-8060

2. Special Meeting of Shareholders:

• The Company held a special meeting on October 22, 2020, to vote on two proposals:
• • Proposal I: Approval of a merger agreement to reincorporate from Florida to Nevada.
  • Proposal II: Adoption of Nevada articles of incorporation to authorize additional shares of common stock and new bylaws.

3. Voting Results:

• Proposal I (Merger):
• • Approved with approximately 61.1% of votes.
  • Votes:
  • For: 103,866,089
  • Against: 342,416
  • Abstain: 39,427
  • Broker Non-Votes: 0
• Proposal II (New Articles and Bylaws):
• • Approved with approximately 60.7% of votes.
  • Votes:
  • For: 103,194,098
  • Against: 1,006,407
  • Abstain: 47,427
  • Broker Non-Votes: 0

4. Corporate Actions:

• The successful votes on both proposals indicate a strategic move for the company to enhance its corporate structure and potentially improve its operations by relocating its incorporation to Nevada, which may provide favorable regulatory and tax conditions.

5. Signatory Information:

• The report was signed by N. Scott Fine, Chief Executive Officer of Cyclo Therapeutics, Inc., on October 23, 2020.

This information outlines significant corporate developments and shareholder decisions affecting Cyclo Therapeutics, which could influence the company's future operations and strategic direction.