Cheetah Net (CTNT) Proxy filing summary

Executive summary

• Takeover Time 2026 LLC is soliciting written consents to replace the entire Board of Directors with its five nominees through an integrated action consisting of three mutually conditioned proposals.

• The solicitation is prompted by concerns over recent equity issuances, reverse stock splits, ineffective internal controls, concentration of executive roles, and a large receivable from a terminated investment.

• The process is not on behalf of the current Board, and stockholders are encouraged to review both parties' SEC filings before making decisions.

Voting matters and shareholder proposals

• Three proposals: (1) set Board size at five, (2) remove current and any newly added directors except Takeover Time nominees, (3) elect five Takeover Time nominees.

• All proposals are mutually conditioned; none becomes effective unless all are approved as one integrated action.

• Written consents representing the minimum votes required at a meeting are needed for approval, considering Class A and Class B voting rights.

• Consents are revocable before becoming effective; procedures for revocation will be detailed in the definitive statement.

Board of directors and corporate governance

• Proposed nominees: Natasha Yuryevna Ovsepyan, Jourdan Pierce Matthews, Walter Franklin Harris, Carol Grimes, and Yan Qin.

• Nominees have diverse backgrounds in business, investment, academia, and nonprofit leadership.

• Carol Grimes is the mother of Jourdan Pierce Matthews; no other material relationships among nominees.

• If elected, the new Board is expected to review management structure, financial leadership, internal controls, capital strategy, equity programs, and major receivables.

• Consideration of a stockholder rights plan and possible restrictions on future stockholder action by written consent may be evaluated.