EasyMed Services, Inc. is a global medical information technology company delivering an end-to-end patient care solution through mobile phone, PDA and server technologies. Mr. Tejinder Sahota, EasyMed's Chief Executive Officer, is pleased to provide an update on the progress and developments of EasyMed. Dear Shareholders, As Chief Executive Officer of EasyMed, it is my great pleasure to update you on the significant changes that are occurring at EasyMed and the key business development activities in which we are currently involved, both for the International Medical Passport and Easy SmartCare. The treasury of the company recently received a convertible loan amount of US $250,000 from GKAN Director and international businessman, Mr. Alexandre Niklan, who has seen the potential of EasyMed and shown faith in its products. Mr. Niklan has invested on a personal basis and has been collaborating with the company for the past year by opening doors for the commercialisation of Easymed's products. His investment signals a strong belief in the company's capabilities and his own potential to help to commercialise the products into his broader network. The funds will be used for general working capital purposes, to meet the company's obligations and to fulfil imminent contracts.
You, our shareholders, approved all the resolutions put before you at the Company's Annual General and Special Meeting, held on August 15, 2013 at Vancouver, BC. At the Meeting, shareholders voted to re-elect Jared Scharf and Frank Christ as directors for the ensuing year; and elected me, Tejinder Sahota, to the Board of Directors. They reappointed Davidson & Co. as the Company's auditors for the ensuing year and authorized the directors to fix the auditor's remuneration. The shareholders also approved the consolidation of the Company's common shares on the basis of five old shares for one new common share (5:1) in the equity of the Company. The shareholders voted in favour of the name change to Easymed Technologies Inc. The Share Consolidation and Name Change remain subject to final approval by the Canadian National Stock Exchange and may be completed at the discretion of the Board of Directors. For more information on these matters, please refer to Easymed's information circular, available on SEDAR (www.sedar.com). Following the Meeting, the directors reappointed me, Tejinder Sahota, as CEO and Mr. Jared Scharf as CFO of the Company. The Company's audit committee is comprised of Jared Scharf, Frank Christ and myself.
From a technology strategy standpoint, we announce the departure of the previous CTO of EasyMed, Mr. Thomas Wacinski, who has successfully fulfilled his obligations with the company. Management has received a strong commitment from technology investor and Easymed shareholder, Mr. George Koukis, who is the founder and Chairman of banking software giant, Temenos. Easymed Chief Developer, Mr. Gopinath Nammalvar, and the team of developers will benefit immensely from the acumen that Mr. Koukis and his technology resources bring to the table. He and his team will take a leading role with the technology component of the Easymed solution. Temenos has 2,300 Software developers in Chennai, India, and Easymed is integrated into the IXL compound which houses George Koukis' technology companies.