NAYA Biosciences shareholders elect board, ratify accountants

NAYA Biosciences, Inc., a medical device company based in Sarasota, Florida, announced the results of its 2024 annual meeting of shareholders that took place on April 9, 2025. The micro-cap company, currently valued at $1.23 million and trading at $2.08 on the Nasdaq Stock Market LLC under the symbol (NASDAQ:NAYA), saw its shareholders vote on two key proposals during the meeting. According to InvestingPro analysis, the company’s stock has experienced significant pressure, declining over 83% in the past six months.

In the first proposal, shareholders elected five directors to the company’s Board of Directors. Each director will serve until the next annual meeting or until their successors are elected and qualified. Votes for the directors were as follows: Trent (NSE:TREN) Davis received 2,291,612 votes for and 93,040 withheld; Rebecca Messina had 2,338,198 votes for and 46,454 withheld; Barbara Ryan garnered 2,305,518 votes for and 79,134 withheld; Steven Shum had 2,203,882 votes for and 180,770 withheld; and Matthew Szot received 2,339,113 votes for and 45,539 withheld. There were 1,973,786 broker non-votes for each director.

The second proposal concerned the ratification of M&K CPAs PLLC as the company’s independent public accountant for the fiscal year ending December 31, 2024. The shareholders approved this appointment with a total of 4,311,854 votes for, 34,533 against, and 12,051 abstentions.

The company, formerly known as INVO Bioscience , Inc., and prior to that as EMY’S SALSA AJI DISTRIBUTION COMPANY, INC., operates under the surgical and medical instruments and apparatus industry, classified under the Standard Industrial Classification code 3841. The information regarding the annual meeting outcomes was disclosed in a Form 8-K filing with the Securities and Exchange Commission, as per the requirements of the Securities Exchange Act of 1934. InvestingPro analysis indicates concerning financial health with an overall score of 1.24 (WEAK), with subscribers having access to 8 additional key insights about the company’s financial position and growth prospects.

NAYA Biosciences, with its principal executive offices located at 5582 Broadcast Court, Sarasota, Florida, is incorporated in Nevada and ends its fiscal year on December 31. The company’s CEO, Steven Shum, signed off on the SEC filing dated today, April 14, 2025.

In other recent news, NAYA Biosciences has announced a 1-for-12 reverse stock split of its common stock, which will take effect at the start of trading on March 18, 2025, on the Nasdaq Capital Market. This move will reduce the number of the company’s issued and outstanding shares from approximately 7,992,684 to about 666,057. Concurrently, the authorized shares will be adjusted to 4,166,666 post-split. The reverse stock split is a strategic effort to meet Nasdaq’s minimum $1.00 bid price requirement for continued listing, although compliance is not guaranteed. NAYA Biosciences is advancing a portfolio of assets, including NY-303 for hepatocellular carcinoma and NY-338 for multiple myeloma and autoimmune diseases. The company’s CUSIP number will change to 44984F609 as part of this restructuring move. This development is aimed at enhancing NAYA Biosciences’ market position, although the outcome remains uncertain.

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