MOBQ Mobiquity Technologies Inc

On May 15, 2023, the following proposals were submitted to the stockholders of Mobiquity Technologies, Inc. (the “Company”) at its annual meeting of stockholders: (i) the election of five directors; (ii) the ratification and approval of the Company’s 2023 Equity Participation Plan; (iii) the ratification of D. Brooks & Associates CPAs as the Company’s independent registered public accounting firm for the year ending December 31, 2023; (iv) granting the Board of Directors discretionary authority to amend the Company’s Restated Certificate of Incorporation to effect a reverse stock split of the Company’s common stock for the purpose of meeting the NASDAQ Capital Markets (“NasdaqCM”) Listing Rule 5550(a)(2) minimum price for continued listing of at least $1.00 per share; (v) the approval of the issuance of shares of common stock underlying the Company’s convertible Senior Secured 20% OID Promissory Notes issued in December 2022 in a number that may be equal to or exceed 20% of the Company’s common stock outstanding immediately prior to the issuance of those notes for purposes of complying with Nasdaq Listing Rule 5635(d); and (vi) the approval of a change in the Company’s by-laws to reduce the quorum for holding a meeting of stockholders from a majority of the outstanding shares of capital stock entitled to vote to one-third of the outstanding shares of capital stock entitled to vote. The proposals are described in more detail in the Company’s Definitive Proxy Statement on Schedule 14A filed with the U.S. Securities and Exchange Commission on April 18, 2023.