Wendesday's meeting sought to answer questions from the members about the financial situation of the reportedly debt-ridden club and to seek their backing in moving the club's status.
Plans have been in motion for some time to seek permission from the SFL to move it to limited club status.
Treasurer Alex Thompson told The Gazette that the meeting had showed support for the move and that members felt it was the sensible thing to do.
He said: "The SFL have asked us to work on fulfilling five criteria before we can be classed as a limited company but they said our inital request seems fine in principle.
"We will now spend the next couple of weeks working on these criteria and will go back to them with what we've done."
The 138-year old club is reported to be in excess of £200,000 worth of debt after falling ticket sales and higher wages for its staff but should they find investment through their new status, they hope to be around to celebrate their 150th birthday.
Another meeting is expected to be held over the coming weeks with an update on the situation.