Item 5.07 - Submission of Matters to a Vote of Security Holders.
On January 14, 2022, the holders of a majority of the issued and outstanding
voting shares of Gaming Technologies, Inc. (the "Company," "we," "us," "our") as
of the record date of October 20, 2021, by written consent in lieu of a special
meeting of stockholders, approved an amendment to the Company's Certificate of
Incorporation to (i) effect a reverse stock split of our common stock, by a
ratio of not less than 1-for-2 and not more than 1-for-8, and providing
authority to our Board of Directors to determine whether to effect a reverse
stock split and, if so to select the ratio of the reverse stock split in their
discretion, and (ii) to increase the number of our authorized shares of common
stock from 45,000,000 to 400,000,000. These matters were authorized by the
holders of 17,640,947 shares, or approximately 56% of the outstanding voting
power, without including any consents that may be received by the Company after
that date.
The Company anticipates filing a certificate of amendment to affect a reverse
stock split, if any, and the authorized share increase with the Secretary of
State of Delaware prior to the anticipated listing of its common stock and
warrants on the Nasdaq Capital Market and such actions being effective on, or
just before, the date the common stock is listed to the Nasdaq Capital Market.
The Company will need to take the necessary steps to meet Nasdaq listing
requirements, which may include a reverse stock split, and there is no assurance
that our common stock will be approved for listing on Nasdaq.
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