Qualstar Corporation Announces Plan to Reincorporate in Nevada

Core Viewpoint - Qualstar Corporation plans to reincorporate from California to Nevada and execute a 3:1 stock split, which has been approved by the Board of Directors and approximately 77.9% of shareholders [1][2]. Group 1: Reincorporation Plan - The reincorporation plan has received approval from the Company's Board of Directors and shareholders holding about 77.9% of the outstanding shares, meeting the requirements under California law [2]. - Shareholders who did not support the conversion have the right to dissent and can receive the appraised fair market value of their shares in cash, provided they follow specified procedures [2]. - If dissenting shareholders exceed 1% of the outstanding shares, the Board may choose to abandon the reincorporation [2]. Group 2: Implementation Timeline - A Notice detailing the plan of conversion will be mailed to shareholders on December 12, 2025, outlining the differences between California and Nevada corporate laws and the dissenters' rights [3]. - The reincorporation will take effect upon filing the necessary documentation with the Secretaries of State of California and Nevada, expected around January 12, 2026, unless the Board decides to abandon the plan [4]. Group 3: Company Overview - Qualstar Corporation, established in 1984, specializes in manufacturing and marketing data storage systems and high-efficiency power solutions [5]. - The data storage systems, marketed under the Qualstar™ brand, include scalable automated magnetic tape libraries designed for electronic data management in network computing environments [6]. - The power solutions, marketed under the N2Power™ brand, offer OEM designers enhanced functionality while minimizing thermal loads and operating costs across various markets [7].