Shareholders in Advanced Cell Technology Inc. of Worcester have approved a proposal to increase the number of company shares available for issuance to 1.75 billion.
Previously, the company had 500 million shares available. Shares of the company are valued at $0.001. The company filed its annual proxy statement with the U.S. Securities and Exchange Commission last week.
Also in the statement, the company detailed the 2008 compensation of CEO William Caldwell. Caldwell made $350,995 last year, down from $500,750 the prior year. In 2007, Caldwell received a bonus of $150,000 and had insurance premiums paid for by the company.
Last year, premiums paid by the company were reduced and Caldwell did not receive a bonus.
For the second quarter, the stem cell technology company reported total assets of $6.4 million and liabilities of $79 million. It reported a net loss for the quarter of $29 million on revenue of $165,648.
