MIAMI, FL – EzFill Holdings Inc. (NASDAQ:EZFL), a retail-auto dealers and gasoline stations company with a market capitalization of $23.91 million, announced the results of its annual stockholders meeting held on January 16, 2025. The company, which has shown strong momentum with a 24.19% year-to-date return according to InvestingPro, confirmed the re-election of its board of directors and the ratification of its independent registered public accounting firm.
During the meeting, shareholders voted to re-elect the existing five-member board of directors, with each director set to serve until the next annual meeting or until their successors are duly elected and qualified. The elected board members are Yehuda Levy, Daniel Arbour, Jack Leibler, Bennett Kurtz, and Sean Oppen. The vote counts were overwhelmingly in favor, with abstentions ranging from 1,086 to 3,953 for the individual directors and no broker non-votes recorded.
Additionally, the stockholders approved the ratification of M&K CPAs, PLLC as the independent registered public accounting firm for the fiscal year that ended on December 31, 2024. The approval for this motion was also substantial, with 4,118,235 votes in favor, 770 against, and 100,084 abstentions, and no broker non-votes.
The company, headquartered in Miami, Florida, is listed on the NASDAQ Capital Market and operates under the retail-auto dealers and gasoline stations sector. InvestingPro data shows the company maintains a healthy current ratio of 1.94 and achieved 19.14% revenue growth in the last twelve months. Investors anticipating the company's next earnings report on March 7, 2025, can access additional insights and 13 exclusive ProTips through InvestingPro's comprehensive analysis platform.
In other recent news, EzFill Holdings Inc. has been notified by The Nasdaq Stock Market LLC that it no longer meets Nasdaq's continued listing requirements due to the company's failure to hold its annual stockholders' meeting within the stipulated timeframe. The Miami-based company has 45 days to submit a plan to regain compliance. In response, EzFill Holdings has scheduled its annual meeting of stockholders for January 16, 2025.
Simultaneously, EzFill Holdings has secured significant funding through a series of loans and promissory notes from NextNRG Holding Corp, including a $580,000 loan, $990,000 in promissory notes, and a $181,500 loan, all aimed at bolstering its working capital needs. In addition to these financial maneuvers, EzFill has announced its plans to acquire the fueling division of Yoshi, Inc., a strategic move expected to enhance its national expansion efforts.
Finally, EzFill has revised its agreement with NextNRG Holding Corp. shareholders, adjusting the total shares to be issued from 40 million to 100 million as part of its planned acquisition of NextNRG. The company has also regained compliance with Nasdaq's equity rule, converting approximately $13.5 million of its debt into equity through agreements with NextNRG Holding Corp and AJB Capital Investments.
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