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Technology Stocks : Loudeye Technologies, Inc. (LOUD)
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From: verdad4/15/2005 5:09:35 PM
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Dilution. In December 2004, we held a special meeting of our stockholders to vote on whether to approve the issuance of an indeterminate number of shares of common stock to satisfy future payment obligations that we incurred in connection with our acquisition of OD2 in June 2004. We were required to seek approval of our stockholders with respect to the additional share issuances under the rules of the Nasdaq SmallCap Market.

Of the 81,890,563 shares of our common stock outstanding as of the record date for the special meeting, 41,447,434 shares were present in person or by proxy (or 51% of our outstanding common stock as of the record date), which number includes shares held by former shareholders of OD2 that were deemed present at the meeting for purposes of quorum but not for the vote. The proposal passed with the following results (which exclude the votes of former OD2 shareholders as required by the rules of the Nasdaq SmallCap Market):

Votes For
23,697,308

Votes Against
4,703,047

Abstain
1,683,331
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