The company also named Richard "Rick" Clemmer, former CEO of NXP Semiconductors, a leading provider of embedded controllers for industrial internet of things (IIoT), mobile, and communications infrastructure with 2020 revenues of $8.6 billion, to Inpixon's board of advisors. The Indoor Positioning Analytics segment includes Inpixons proprietary products and services delivered on premise or in the cloud as well as hosted software-as-a-service based solutions. Through wall crossings companies are able to share MNPI with prospective investors to get feedback or gauge interest in a prospective deal without alerting the entire market to their proposals. The screen captures below give you a taste with the word convertible highlighted. It does not matter if it found a pool-sized deposit of pure gold underneath its head office. not anticipated to be liquid any time soon and investors can come to their own conclusion on the legitimacy and appropriateness of this transaction given INPX's financial state) versus $19 million in total liabilities. The company's Indoor Intelligence and mobile app solutions are leveraged by a multitude of industries to optimize operations, increase productivity, and enhance safety. Often when a proposed investor is brought over the wall it is to review limited data related to a financing. Inpixon (Nasdaq: INPX) is the innovator of Indoor Intelligence, delivering actionable insights for people, places and things. The firm has garnered its fair share of controversy and has developed a rather odious reputation among some members of the financial community. I am delighted to have the opportunity to work with Nadir, the Board, and the executive team to help support Inpixon's continued market leadership. 26, 2021 /PRNewswire/ -- Inpixon (Nasdaq: INPX), the Indoor Intelligence company, today announced it will acquire a controlling interest of the outstanding capital stock of Game Your Game Inc. ("Game" a.k.a., Game Golf) an app-based sports performance analytics firm using IoT sensors, maps and location technologies. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of Inpixon's most recent annual report on Form10-K,KINS's registration statement on FormS-1 (File No. Visit a quote page and your recently viewed tickers will be displayed here. (Note that these numbers are prior to a later 30/1 reverse split.) My passion and greatest depth of knowledge is on Canadian small cap stocks and I consider my blog posts to be some of my best work. Long Island Iced Teas shares jumped more than 500% after, A medical devices company, changed its name from Bioptix Inc. to Riot Blockchain (. Historical and current end-of-day data provided by FACTSET. Learn more about Inpixons proprietary sensors including Inpixon Pod, Inpixon Sensor 4000, and Inpixon Sensor Ultra. The investors bought substantial stakes and then exited their positions into the spike that followed the news release. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. ". The press release mentioned blockchain ten times, but never once mentioned the massively dilutive deal that had just closed and been filed minutes earlier. Game Your Game is a sports performance data analytics technology company predominantly focused on the golf industry, and its assets include multiple patents issued and pending. Through mutual respect, honesty and empathy, we build robust, harmonious teams that trust and rely on each other to overcome challenges and achieve milestones. Add to Watchlist. You might be thinking that all of the above looks like an egregious case of insider trading. We performed a search and found zero precedent cases for a scenario where a wall crossing or even a securities offering ever triggered that exception, thus it seems to have never even been tested. Therefore, there was no insider trading. "We are very fortunate to have the opportunity to work with someone of Ricks stature and expertise and look forward to partnering with him on Game as well as benefiting from his support and advice for Inpixon," said Nadir Ali, CEO of Inpixon. Posted by 6 months ago. Until it stops with the dilutive capital raises with vulture financiers and reverse splits, the stock is going to be perpetually headed to zero. Photo taken from the Why Is It Moving? Details tool inside Benzinga Pro. 4. I am not receiving compensation for it. Touch device users, explore by touch or with swipe gestures. Readers are cautioned not to put undue reliance on forward-looking statements, and Inpixon, CXApp and KINS assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. By comparison, the Inpixon deal allowed investors to buy the deal with an apparently perfect sense of both the content and timing of the market-moving news. All told, the filing and exhibits comprised 116 pages of nuanced legal material detailing the specifics of an offering that had closed several days earlier, unbeknownst to outside investors until that point. As in other words, the company is nowhere near profitability, burning over $5 million per quarter. I wrote this article myself, and it expresses my own opinions. Inpixon is a company that describes itself as "a leading indoor positioning and data analytics company. The person receiving an illegal tip must pay the market price for shares. I am a private investor based out of Toronto, Canada and I have been investing since 2003. It has now fallen 3 days in a row. None of Inpixon, CXApp or KINS gives any assurance that Inpixon, CXApp or KINS will achieve their expectations. The Company did not issue a press release announcing the transaction. One investor in the deal filed a Schedule 13G on January 11th (two days after the blockchain press release.) Game Golf was previously awarded Golf Digest's Editors Choice of Best Golf Analyzer. Inpixons stock price responded as one might expect, surging over 192% from the previous days close within 9 seconds on heavy premarket volume. Media relations and general inquiries: Inpixon Email: [email . In addition, the Company is pursuing possible strategic transactions. Wall crossing offerings can serve a useful purpose in the market. It is not intended to form the basis of any investment decision or any other decision in respect to the business combination. EDGAR Online is not affiliated with or approved by the U.S. Securities and Exchange Commission. By clicking Accept all you agree that Yahoo and our partners will process your personal information, and use technologies such as cookies, to display personalised ads and content, for ad and content measurement, audience insights, and product development. We think the implications of this tiny deal at this tiny company could be big. Photo taken from the 'Why Is It Moving?' Details tool inside Benzinga Pro. Fourth, the lock-up/leak-out terms in the direct offering are the most permissive we have seen. Marketing materials are limited to an issuers exchange act or other public filings or to a road show type presentation that is viewed by pre-cleared investors. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Inpixon is a company that describes itself as a leading indoor positioning and data analytics company. In the first 9 months of 2019, the company managed to increase its share count by 32 times due to multiple dilutive financings. With respect to bad past performance, past results are very much indicative of what will happen in the future for INPX. back of fridge smells like poo; major deegan expressway closed; houses for rent in memphis, tn. There are currently no items in this Watchlist. According to our. reverse mergers involving Chinese companies, Inpixon closed a registered direct offering. save. They're an intrinsic part of our culture, from who we hire to how we work. Roth pocketed $334,800 for their role in the deal according to a form D filing. I have no business relationship with any company whose stock is mentioned in this article. I consider this article to be a public service announcement which hopefully (usually new) retail traders will read before being sucked into the liquid and volatile day trading fun this stock provides every so often before giving a kick to the gut of its newly sucked in shareholders. Or it needs to be delisted. In the first five trading days of 2020, INPX went from (post-split) $5 to nearly $30 and back down to $5 on hundreds of millions of pre-split volume. As we continue to grow globally, our core values guide us on how to support our people our employees, customers and partners. The only clear losers in all of this seemed to be anyone in the investing public who bought into the news and took a bath in the ensuing share price collapse. Inpixon (Nasdaq: INPX) is the Indoor Intelligence company that specializes in capturing, interpreting and giving context to indoor data so it can be translated into actionable intelligence. Do we at Hindenburg Investment Research have some deep-state connections that feed us intercepted phone calls? Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. It operates through the Indoor Positioning Analytics and Infrastructure segments. Type a symbol or company name. Roth was also well-known for its role in facilitating several suspect reverse mergers involving Chinese companies, raising approximately $3.1 billion for China-based clients from 2003 to 2012. I am considering re-entering long INPX but I'm somewhat out of the loop. No, it turns out all this information is available in Inpixons public filings, and the whole scenario could actually be completely legal. NASDAQ:INPX Inpixon - INPX News Today $1.70 +0.03 (+1.80%) (As of 12/30/2022 12:00 AM ET) Compare Today's Range $1.63 $1.70 50-Day Range $1.60 $3.67 52-Week Range $1.58 $47.25 Volume 25,729 shs Average Volume 61,878 shs Market Capitalization $4.06 million P/E Ratio N/A Dividend Yield N/A In sum, the offering was unusually permissive in several areas, with the effect of providing advantages to the wall-crossed investors and disadvantages to the general public to an extent we havent seen before. However, solely looking at the historical price movement is usually misleading. Is this happening to you frequently? Shares of Inpixon soared 32% on heavy volume in premarket trading Tuesday, after the data intelligence company's that Inpixon was working with cruise lines and hotels on customer safety measures. EDGAR is a federally registered trademark of the U.S. Securities and Exchange Commission. We have no idea how this all ends up but it will likely be interesting to watch. "Inpixon's location technologies and Indoor Intelligence platform provide a strong foundation for growth and value creation, as well as the ability of using Game to provide a true sports IoT platform. [See: 17 C.F.R. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Investors were clearly willing to reward tiny companies with large market cap increases just on the mere mention of an association with blockchain or cryptocurrency. Below, we examine the compound annual growth rate CAGR for short of an investment into Inpixon shares, starting with a $10,000 purchase of INPX, presented on a split-history-adjusted basis factoring in the complete INPX split history. When including the potential dilution from warrants the offering had the potential to more than double the Companys shares outstanding. The $19 million in liabilities are broken down as $10 million in short term debt, $3 million in long-term debt and the balance in payables and other short term liabilities. The company's Indoor Intelligence and mobile app solutions are leveraged by a . INVE Split History The implication was that the company had a clear and pressing need for capital. Inpixon's extensible platforms scale to meet evolving indoor intelligence needs. There's a saying in the investment world that past performance is not indicative of future results. Combining the power of mapping, positioning and analytics, Inpixon helps to create smarter, safer, and more secure environments. Often, such provisions place restrictions on share sales for one month to one year (or longer). The company's continuous pattern of outdoing its previous reverse split is an indication of a complete lack of concern for preserving shareholder value. the discounted shares through a private placement offering. This is not a regulatory issue here. Click Manage settings for more information and to manage your choices. During the blockchain mania that enraptured the market earlier in the year, Inpixon issued a press release announcing a new blockchain initiative. By way of background, Roth has raised over $45 billion for small-cap public and private companies and completed approximately 300 merger, acquisition and advisory assignments since it was founded in 1992, according to the companys website. I'm also eager to maximize the potential of Game Your Golf in which we have a joint interest.". INPX has a split-adjusted price of $1,800,000 and it is now down to the $5 range. For context, a 13G is used to report a partys ownership of stock that is more than 5% of a company. The shares were purchased at a roughly 20% discount to Inpixon's market price at the time. PALO ALTO, Calif., Oct. 6, 2022 /PRNewswire/ -- Inpixon (Nasdaq: INPX) ("Inpixon" or the "Company"), the Indoor Intelligence company, today announced that the Company's Board of Directors has approved a consolidation of the Company's common stock whereby every seventy-five (75) shares of its outstanding common stock will automatically be combined into one (1) share of common stock. All told the offering looks to have been a sweet deal for Roth and the investors. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share. We genuinely care about your wellbeing and offer encouragement and tools on how to nurture it, so you can succeed with us, sustainably. Inpixon's blockchain announcement was released on January 9 th. Inpixon customers can take advantage of mapping, positioning, analytics, sensor fusion, and the Internet of Things (IoT) to uncover the untold stories of the indoors. Paired with a high-performance data analytics engine, patented algorithms, and advanced mapping technology, Inpixons solutions are leveraged by a multitude of industries to do good with indoor data. In steps Roth Capital, an investment bank based in Newport Beach, California, which was hired exclusively to run an offering for Inpixon. Inpixon (Nasdaq: INPX) is the innovator of Indoor Intelligence, delivering actionable insights for people, places and things. Combining the power of mapping, positioning and analytics . Putting a percentage on that is meaningless. We think the Inpixon deal is an absolutely bizarre case of a wall crossing offering that strikes us as spectacularly sketchy but potentially legal. Our Indoor Intelligence platform and patented technologies empower users to harness the power of indoor data to create actionable intelligence. . On the heels of yet another reverse split - this time 1-for-45 - Inpixon (NASDAQ:INPX) managed to empty out the wallets of traders who held the hot potato for an instant too long this past week. By late 2017, the company was nearly bankrupt. Here, Roths clients appear to have been brought over the wall in large part to view the blockchain press release. Co. has three segments: Indoor Intelligence, which provides apps and services, including smart office app that seeks to improve the employee experience by providing organizations with a location aware customer branded employee app for a connected workplace; Shoom, which provides digital solutions or cloud-based applications and analytics for the media and publishing industry, including eTearsheets and eInvoice; and SAVES, which provides a set of data analytics and statistical visualization software solutions for engineers and scientists, including SigmaPlot, SigmaStat, SYSTAT, PeakFit, TableCurve 2D, TableCurve 3D, SigmaScan and MYSTAT. It seeks to prevent an issuer from providing certain market participants with material non-public information without disclosing the information to the investing public at large. Have Watchlists? You can change your choices at any time by visiting your privacy controls. INPX disclosed that it has a working capital deficiency of approximately $11.5 million. We take pride in our work, collaborate and support each other in day-to-day activities and throughout our community. Is this happening to you frequently? Reg FD was designed to prohibit the selective disclosure of material non-public information. They got an extension of 180 days. The company shared the press release with multiple investors in advance. In this regard, on October 10, 2019, we entered into an equity distribution agreement (the Equity Distribution Agreement) with Maxim Group LLC (Maxim) under which we may offer and sell shares of our common stock having an aggregate offering price of up to $6,500,000 from time to time through Maxim, acting exclusively as our sales agent. IOT Split History I wrote this article myself, and it expresses my own opinions. Additionally, we look forward to expanding Games market and to exploring the synergies around Inpixon's and Game's technologies for positioning, maps, analytics and mobile apps. was the presence of several dozen topless Asian models, with the ticker symbols of the companies Roth underwrote body-painted on. In 2011, Roth hosted a wear-only-white Miami Glam party where bikini-clad hostesses served cotton candy while guests listened to a performance by Pitbull. Please. The transaction is subject to the terms and conditions of a Stock Purchase Agreement, including customary closing conditions. Cookie Notice (). The regulation more or less aspired to plug up weaknesses with existing insider trading laws in order to make the markets fairer (as the name implies). This browser is no longer supported at MarketWatch. (adsbygoogle = window.adsbygoogle || []).push({}); Looking at the INPX split history from start to finish, an original position size of 1000 shares would have turned into 1.64609053497942e-05 today. Inpixon customers can take advantage of industry leading location awareness, RTLS, workplace and hybrid event solutions, analytics, sensor fusion, IIoT and the IoT to create exceptional experiences and to do good with indoor data. Where indoor data becomes actionable intelligence. 8. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. 26, 2021 /PRNewswire/ -- Inpixon (Nasdaq: INPX), the Indoor Intelligence company, today announced it will acquire a controlling interest of the outstanding capital stock of Game Your Game Inc. (Game a.k.a., Game Golf) an app-based sports performance analytics firm using IoT sensors, maps and location technologies. Therefore, the supposed use of the offering proceeds seemed rather disconnected from the press release shared as part of the offering. All rights reserved. In 2018, a well-known short seller fund named Hindenburg Investment Research wrote an investigative report on one of INPX's raises with Roth Capital called "Inpixon: If This Sketchy Deal Is Legal The Public Markets May Be In Deep Trouble". For the latest insights. . Trading volume spiked to Inpixon engages in the provision of indoor positioning and data analytics services. The companys Indoor Intelligence platform ingests diverse data from IoT, third-party and proprietary sensors designed to detect and position active cellular, Wi-Fi, UWB and Bluetooth devices. I wrote this article myself, and it expresses my own opinions. (PRNewsfoto/Inpixon) The reverse stock split will be effective as of the commencement of trading on Friday, October 7, 2022. The Inpixon Values We Live By Our values are wired into our DNA as a company. At such time, the common stock will also commence trading with a new. Intraday Data provided by FACTSET and subject to terms of use. card classic compact. Despite the current market conditions, we believe these initiatives will help unlock increased value for our stockholders.". I have no business relationship with any company whose stock is mentioned in this article. Working hard is key but so is taking care of yourself and your community. INPX needs to be put into a situation where it either stands on its own two feet through positive cash flow from operations or raises capital with reputable non-vulture firms until a day that cash flow positive results are achieved. For example, a 1000 share position pre-split, became a 66.6666666666667 share position following the split. There are not analysts providing consensus earnings estimates for the current fiscal year. To the best of our ability and belief, all information contained herein is accurate and reliable, and has been obtained from public sources we believe to be accurate and reliable, and who are not insiders or connected persons of the stock covered herein or who may otherwise owe any fiduciary duty or duty of confidentiality to the issuer. DATA AS OF May 12, 2022. The kicker: The whole scenario may be entirely legal due to a nuance with how the information was shared. Media relations and general inquiries:InpixonEmail:marketing@inpixon.comWeb:inpixon.com/contact-us, Investor relations:Crescendo Communications, LLCTel: +1 212-671-1020Email:INPX@crescendo-ir.com, Inpixon Appoints Former NXP CEO, Richard Clemmer, as Advisor and Announces Co-Investment With Clemmer in Sports Performance Analytics Company, Inpixon (Nasdaq: INPX) is the Indoor Intelligence company that specializes in capturing, interpreting and giving context to indoor data so it can be translated into actionable intelligence. INPX News Today | Why did Inpixon stock go up today? 243.100 (b)(2)(iii).]. Summary. Inpixon shares are trading lower after the company announced a 6.497 million common stock offering at $0.2775 per share. Find out more about how we use your information in our privacy policy and cookie policy. The purchase order is valued at over one . The reverse stock split is being implemented for the purpose of complying with applicable Nasdaq Listing Rules, including the closing bid price requirement and such other minimum bid price rules to the extent they may be applicable, in connection with future strategic transactions. I cannot stress this enough for a dilution machine like INPX. Create your Watchlist to save your favorite quotes on Nasdaq.com. For live updates on INPX, log in or try Benzinga Pro today.
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