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CISO Global, Inc. (NASDAQ:CISO), a Delaware-incorporated management consulting services firm with a market capitalization of $9.4 million and concerning financial metrics according to InvestingPro, announced the results of its Annual Meeting held on April 24, 2025. The company currently trades below its Fair Value, though investors should note its significant debt burden and rapid cash burn rate. Shareholders voted to elect directors and ratify the appointment of Semple, Marchal & Cooper, LLP as the company’s independent registered public accountants for the fiscal year ending December 31, 2024.
The election results confirmed the board of directors for the upcoming year. David G. Jemmett, Andrew K. McCain, Phillip Balatsos, Mohsen (Michael) Khorassani, and Andrew Hancox were all elected with a majority of votes. This leadership team faces significant challenges, as the company reported a negative EBITDA of -$12.2 million in the last twelve months. The detailed vote count revealed a strong endorsement for each director, with Jemmett receiving 6,754,614 votes for, McCain 6,820,763, Balatsos 6,850,817, Khorassani 6,834,318, and Hancox 6,834,854. There were no broker non-votes, and abstentions ranged from 16,999 to 27,785 across the board.
In addition to the director elections, shareholders ratified the appointment of Semple, Marchal & Cooper, LLP as the company’s independent auditors with an overwhelming majority of 6,936,242 votes for, 89,918 against, and 18,296 abstentions. The ratification signifies shareholder confidence in the accounting firm’s ability to audit the company’s financial statements.
The Annual Meeting was an essential event for CISO Global, as it set the stage for the company’s leadership and financial oversight for the next fiscal year. The results were filed with the SEC and are based on a press release statement. The company, formerly known as Cerberus Cyber Sentinel Corp, is headquartered in Scottsdale, Arizona, and operates under the SIC code 8742 for management consulting services. With its next earnings report due on May 15, 2025, InvestingPro subscribers can access 14 additional key insights about CISO’s financial health and market position.
In other recent news, CISO Global has made significant strides in its financial and operational strategies. The company recently satisfied convertible notes held by Target (NYSE:TGT) Capital 14, LLC, and Secure Net Capital, LLC, a move that has strengthened its balance sheet. Additionally, CISO Global announced that it achieved unaudited Adjusted EBITDA profitability in the last quarter of 2024, with expectations of generating at least $34 million in adjusted EBITDA profitable revenue in 2025. The firm has also extended $7 million in convertible notes, signaling confidence from its partners.
CISO Global has been actively working on a strategic shift towards a software-centric business model, which has resulted in improved service delivery efficiency and reduced costs. The company has launched its new AI-driven cloud security solution, CISO Edge, to enhance protection against advanced cyber threats. This product was valued at $30 million and demonstrated its effectiveness by blocking over 87,000 cyberattacks at recent cybersecurity conferences.
Furthermore, CISO Global has addressed concerns about stock volatility, confirming that no insider selling has occurred during recent trading activities. CEO David Jemmett suggested that market manipulation might be influencing stock price movements. The company’s ongoing efforts to innovate and streamline its operations reflect its commitment to growth and providing top-tier cybersecurity solutions.
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