"Majority of all shares" Explained. (My first and probably only DD).

Anyone watching the stream may have noticed a large amount of hype over a quote from the annual meeting regarding share counting. Hype is great, but I believe in this case it was indeed "confirmation bias" as used in its traditional sense; where fact is twisted to confirm previously held beliefs.

The clearest quote we have from the meeting is

"There are present at this meeting in person or by proxy more than the majority of all shares that are entitled to cast votes."

Now, we may find out more as GME makes its official filing, but I wanted to look into the language of this quote. Specifically "majority" and why Gamestop might include that language.

https://news.gamestop.com/node/18846/html

Here is a Gamestop 14f filing (no idea what that is), which includes this language:

"6.  What Constitutes a Quorum?

A quorum of common stockholders is required to hold a valid annual meeting of stockholders. Unless a quorum is present at the annual meeting, no action may be taken at the annual meeting except the adjournment thereof to a later time. The holders of a majority of the outstanding shares of our common stock entitled to vote at the meeting must be present or by proxy to constitute a quorum. All valid proxies returned will be included in the determination of whether a quorum is present at the annual meeting. The shares of a stockholder whose ballot on any or all proposals is marked as “abstain” will be treated as present for quorum purposes. If a broker indicates on the proxy that it does not have discretionary authority as to certain shares to vote on a particular matter, those uninstructed shares, constituting “broker non-votes,” will be considered as present for determining a quorum, but will not be voted with respect to that matter."

Emphasis added.

I know we all want Gamestop to tell us there was overvoting, and we want the quote from the meeting to mean that there was, but that is not what this language appears to be used for, or what it means. It is simply saying "this annual meeting is valid because we have a quorum."