These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of Inpixon, CXApp and KINS, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Summary. Copy and paste multiple symbols separated by spaces. 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. Get Dividend Alerts Any fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share of common stock. 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. All expressions of opinion are subject to change without notice, and Hindenburg Research does not undertake to update or supplement this report or any of the information contained herein. While management has based any forward-looking statements included in this release on its current expectations, the information on which such expectations were based may change. The reverse stock split will be effective as of the commencement of trading on Friday, October 7, 2022. During the last trading day the stock fluctuated 16.77% from a day low at $1.61 to a day high of $1.88. 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. 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. The last article on Seeking Alpha on INPX was actually a bullish one, where the author explained the company's M&A strategy for location analytics. It operates through the Indoor Positioning Analytics and Infrastructure segments. The. Please disable your ad-blocker and refresh. Combining the power of mapping, positioning and analytics, Inpixon helps to create smarter, safer, and more secure environments. INPX News Today | Why did Inpixon stock go up today? Please see Inpixon Basic Forecasting Models to cross-verify your projections. the discounted shares through a private placement offering. 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. At such time, the common stock will also commence trading with a new. (Note that these numbers are prior to a later 30/1 reverse split.) 8. For those traders new to the INPX story who might be confused as to what happened and are angry that they have steep losses just a couple of days into their investment, do not fear for you are not alone. INVN Split History Another investor filed a similar 13G in the ensuing days showing that they too had briefly owned about 5.5% of the company but had summarily dumped about 1.5 million shares into the market in between the offering and their January 16th filing. This is not a regulatory issue here. Wall crossing offerings can serve a useful purpose in the market. card classic compact. DATA AS OF May 12, 2022. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. The day before, Inpixon closed a registered direct offering with the help of Roth, raising approximately $3.2 million in exchange for almost 18 million shares of common stock. Inpixon (Nasdaq: INPX) is the innovator of Indoor Intelligence, delivering actionable insights for people, places and things. General inquiries:InpixonEmail: marketing@inpixon.comWeb: inpixon.com/contact-us, Investor relations:Crescendo Communications, LLCTel: +1 212-671-1020Email: INPX@crescendo-ir.com, View original content to download multimedia:https://www.prnewswire.com/news-releases/inpixon-announces-share-consolidation-for-nasdaq-compliance-and-to-support-strategic-transactions-301642082.html, https://www.prnewswire.com/news-releases/inpixon-announces-share-consolidation-for-nasdaq-compliance-and-to-support-strategic-transactions-301642082.html, 12-year-old catches great white shark while fishing in Florida, Biden calls in Ghostburger order, leaves employee speechless, Brian Walshe pleads not guilty to murder: Everything we know about the case, Anger grows in Virginia city where first-grader shot teacher, Poll: Two-thirds of Americans including most Dems favor investigation into Biden docs. Inpixon (INPX) Latest Stock News & Headlines - Yahoo Finance U.S. markets open in 8 hours 3 minutes S&P Futures 3,942.75 +2.00(+0.05%) Dow Futures 33,884.00 +35.00(+0.10%) Nasdaq Futures. Combining the power of mapping, positioning and analytics . Inpixon's blockchain announcement was released on January 9 th. Integrate business data with indoor maps to create map-enabled solutions that address multiple use cases. It has now fallen 3 days in a row. Game Golf PRO is designed to help players improve their scores and to enable course managers, greenskeepers and architects to lower costs and improve the pace of play. There are so many, it can't even be expressed concisely in an article. Filings suggest that is exactly what happened. These dilutive capital raises resulted in the shares outstanding climbing from (pre-January 2020 split) 1,581,880 as of December 31, 2018 to 50,518,500 as of September 30, 2019. offering, which means the participants were able to freely trade their shares after the MNPI had been released to the public. 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. This multidisciplinary depiction of indoor data enables users to increase revenue, decrease costs, and enhance safety. PALO ALTO, Calif., Mar. Net loss of $17 million on $4.4 million in revenue for the first nine months of 2019. Until it stops with the dilutive capital raises with vulture financiers and reverse splits, the stock is going to be perpetually headed to zero. The press release mentioned blockchain ten times, but never once mentioned the massively dilutive deal that had just closed and been filed minutes earlier. Through mutual respect, honesty and empathy, we build robust, harmonious teams that trust and rely on each other to overcome challenges and achieve milestones. By embracing curiosity and experimentation, we are constantly looking for new ways to innovate how things are done, for ourselves, our customers, and the world. We believe the best work is done when everyone is fully engaged, and we prioritize this approach every day. Inpixon Workplace Readiness Solution Selected by Prive Clinics to Safeguard the Health and Welfare of Clients, Inpixon Enhances Enterprise-Class and Social Distancing Features with New Inpixon Mapping Release, Inpixon Introduces UWB Personnel Tag for Real-Time Location System. Contrary to the typical wall crossing deal, the terms of the Inpixon deal strike us as highly irregular for a variety of reasons. Combining the power of mapping, positioning and analytics,. 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. 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. Inpixon (Nasdaq: INPX) is the innovator of Indoor Intelligence, delivering actionable insights for people, places and things. That didnt work out too well for those who hopped aboard. Operating cash outflow of $9 million for the first nine months of 2019; $13.3 million in net cash raised in these toxic financings. When a company such as Inpixon conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. I wrote this article myself, and it expresses my own opinions. INPX has had four reverse splits in the past three years which combine for a total rollup of 1 share for 810,000. I have no business relationship with any company whose stock is mentioned in this article. This communication does not contain all the information that should be considered concerning the Business Combination. It takes courage to be a leader, both individually and as a team, and we embody this by whole-heartedly believing in our mission. Such risks, uncertainties, and other factors include, but are not limited to, the fluctuation of economic conditions, the impact of COVID-19 on Inpixon's results of operations, Inpixons ability to integrate the products and business from recent acquisitions into its existing business, the performance of management and employees, the regulatory landscape as it relates to privacy regulations and their applicability to Inpixons technology, Inpixon's ability to maintain compliance with Nasdaqs minimum bid price requirement and other continued listing requirements, the ability to obtain financing, competition, general economic conditions and other factors that are detailed in Inpixon's periodic and current reports available for review at sec.gov. This browser is no longer supported at MarketWatch. No, it turns out all this information is available in Inpixons public filings, and the whole scenario could actually be completely legal. I cannot stress this enough for a dilution machine like INPX. With respect to bad past performance, past results are very much indicative of what will happen in the future for INPX. Is this happening to you frequently? 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. 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. When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Data provided by Edgar Online. Having a healthy balance between your personal and professional life is important to us. Mr. Clemmer is a co-investor in Game Your Game. You further agree to do your own research and due diligence, consult your own financial, legal, and tax advisors before making any investment decision with respect to transacting in any securities covered herein. Intraday Data provided by FACTSET and subject to terms of use. Currently operating in 7 countries with over 250 employees, Inpixon is bringing its Indoor Intelligence solutions, technology, and expertise to a global market. I have no business relationship with any company whose stock is mentioned in this article. I have no business relationship with any company whose stock is mentioned in this article. While the above may strike some as a nuanced legal loophole, what that nuance means is that technically no trades took place until the MNPI had been released and became public (i.e. A review of the Q3 financial statements reveal the following: Based on the burn rate and poor liquidity, it is a certainty that INPX will continue to massively dilute its common shares. Please. IPAS Split History The firm had 1:75 split on the 7th of October 2022. Do Not Sell My Personal Data/Privacy Policy. What would stop companies from bringing favored investors over the wall in advance of any surprise positive news? In particular we look for situations where companies may have any combination of (i) accounting irregularities (ii) bad actors in management or key service provider roles (iii) undisclosed related-party transactions (iv) or illegal/unethical business or financial reporting practices.Tips and feedback can be sent to info@hindenburgresearch.com. Please be aware of the risks associated with these stocks. 4. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. The filing included multiple exhibits and a 53-page securities purchase agreement. INPX has a history of multiple highly dilutive secondary financings with brokers that are known for toxic microcap deals. The $5 and $10 pricepoints tend to be important in this regard. Combining the power of mapping, positioning and analytics . The company's Indoor Intelligence and mobile app solutions are leveraged by a multitude of industries to optimize operations, increase productivity, and enhance safety. As we chart out this new frontier and redraw the world with indoor intelligence, were always looking for the best and brightest to come aboard and join our talented and innovative crew. Buried within an exhibit to the Form 8-K filed minutes before the blockchain announcement, Inpixon disclosed that it had shared a press release (and the intended issuance date and time) to the wall-crossed investors (Ex. save. Protect your investment. The stock has dropped about 95% in the ensuing months, eviscerating many who bought into the announcement. The private placement was done as a . We have no position in Inpixon (NASDAQ:INPX), a tiny little $3 million market cap company that is not particularly noteworthy in any way except for one. As one commentator stated: Generally, potential investors do not receive any material non-public information regarding the issuer or its business. The latest closing stock price for Inpixon as of January 06, 2023 is 1.63.. Reddit and its partners use cookies and similar technologies to provide you with a better experience. 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. 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". 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. Or it needs to be delisted. Given the investment horizon of 90 days the next projected press release will be in about 9 days. Best-in-Class Leverage a proven best-in-class solution that is robust, versatile and secure. IPDN Split History It does not matter if it found a pool-sized deposit of pure gold underneath its head office. Second, Inpixons direct offering has been highly dilutive to public shareholders, potentially more than doubling the shares outstanding when including warrants. Read Note 10 - Capital Raises through Note 12 - Preferred Stock on the company's Q3 financial filing to get the full dilutive picture. Additional disclosure: Use of Hindenburg Researchs research is at your own risk. 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. 333-249177) and the Form S-4 (as defined below), the Form S-1 (as defined below), the CXApp registration statement on Form S-1, the proxy statement/prospectus and certain other documents filed or that may be filed by Inpixon, KINS or CXApp from time to time with the SEC following the date hereof. Inpixon customers can boldly take advantage of location awareness, analytics, sensor fusion and the Internet of Things (IoT) to uncover the untold stories of the indoors. Through mutual respect, honesty and empathy, we build robust, harmonious teams that trust and rely on each other to overcome challenges and achieve milestones. What happened to Delisting? Blockchain was all the rage during the Inpixon deal's offering period. When autocomplete results are available use up and down arrows to review and enter to select. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Inpixon shares are trading lower after the company announced a 6.497 million common stock offering at $0.2775 per share. I have no long or short position in INPX and likely never will. Prior to the offering, Inpixon had only about 29 million shares outstanding as of January 5, 2018, suggesting that the offered shares represented a massive 62% increase in total common share count. For the latest insights, followInpixon on LinkedIn,Twitter, and visitinpixon.com. "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. "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. Things looked dire. 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. 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. 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. 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. (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. Important Information and Where to Find It. The all-time high Inpixon stock closing price was 100000000.00 on November 04, 2013.; The Inpixon 52-week high stock price is 41.35, which is 2436.8% above the current share price. "As previously disclosed, we have undertaken a number of significant initiatives aimed at increasing stockholder value, including: (i) reducing corporate expenses to streamline operations; (ii) entering into a definitive agreement for the planned spin-off and sale of our newly formed subsidiary, CXApp Holding Corp., for shares in KINS Technology Group, Inc. (Nasdaq: KINZ; KINZW), valued at approximately $69 million to be issued to our securityholders as of a to be determined record date; and (iii) entry into a non-binding letter of intent with a third party involving the remainder of our business. There's a saying in the investment world that past performance is not indicative of future results. The day before, Inpixon closed a registered direct offering with the help of Roth, raising approximately $3.2 million in exchange for almost 18 million shares of common stock. There are not analysts providing consensus earnings estimates for the current fiscal year. After 8 years in Corporate Finance with a Canadian Telecom company I have decided to dedicate myself full-time to the capital markets. Explore all Inpixon supported hardware including tags, anchors, sensors and more. 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. None of Inpixon, CXApp or KINS gives any assurance that Inpixon, CXApp or KINS will achieve their expectations. Here, the leak-out agreement provided that on the date of the blockchain press release the wall crossing investors could not make up more than 35% of the trading volume in the Companys common stock. Inpixon recorded a loss per share of 0.67. All told the offering looks to have been a sweet deal for Roth and the investors. I write on Seeking Alpha to demonstrate my financial analysis and writing skills across a variety of industries and to take advantage of any story-based trading opportunity that may arise. Whether its a small step or a giant leap, we are here for each other to offer support, knowledge and resources, so we can succeed together. This news release contains forward-looking statements. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. However, solely looking at the historical price movement is usually misleading. Game's leading product, Game Golf PRO, is one of golfs most powerful & accurate GPS shot tracking systems. The shares were purchased at a roughly 20% discount to Inpixons market price at the time. Thanks to the multiple reverse splits and five years of constant tanking, the chart looks like a ski slope where the skier has been burning on asphalt for two years. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. Details of this astronomically dilutive share sale were first revealed to investors at 8:46:09 a.m. on January 9, 2018 when the company filed its form 8-K with the SEC. 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. You see, Inpixon, with the help of its investment bank Roth Capital used a process called wall crossing to share the material non-public information (aka MNPI) with investors, who then purchased the discounted shares through a private placement offering. 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. What INPX and the vulture financiers are doing is completely legal as long as SEC filings disclose everything in a timely manner. The approach had proved reliable on a number of occasions: Inpixons blockchain announcement was released on January 9th. The purchase order is valued at over one . The Form S-1 to be filed by CXApp will include the Form S-4 filed by KINS, which will serve as an information statement/prospectus in connection with the spin-off of CXApp. Following publication of any report or letter, we may transact in the securities covered herein, and we may be long, short, or neutral at any time hereafter regardless of our initial recommendation, conclusions, or opinions. Concurrent with the reverse stock split, the authorized shares will also be proportionately reduced consistent with the reverse split ratio. The company's Indoor Intelligence and mobile app solutions are. 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. 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. Introducing Inpixon! Get up to 10 years of daily historical stock prices & volumes. I wrote this article myself, and it expresses my own opinions. Photo taken from the 'Why Is It Moving?' Details tool inside Benzinga Pro. Inpixons stock price responded as one might expect, surging over 192% from the previous days close within 9 seconds on heavy premarket volume. Inpixon customers can boldly take advantage of location awareness, analytics, sensor fusion and the Internet of Things (IoT) to uncover the untold stories of the indoors. In addition to the latest reverse split, the company has undertaken the following since 2017: A 1-for-40 reverse split in November 2018, A 1-for-30 reverse split in February 2018. Create your Watchlist to save your favorite quotes on Nasdaq.com. The person receiving an illegal tip may be limited by imprecise timing of the news release or may have imperfect information. We are writing this because we saw something we think is pretty ridiculous, and we like to call-out ridiculous things. Is this happening to you frequently? 17 sec. All quotes are in local exchange time. I am not receiving compensation for it. Here, purchasers in the direct offering were allowed to sell shares short and hedge their warrant exposure with minimal limitation (Pg. This communication is restricted by law; it is not intended for distribution to, or use by any person in, any jurisdiction where such distribution or use would be contrary to local law or regulation. I'm also eager to maximize the potential of Game Your Golf in which we have a joint interest.". The company's Indoor Intelligence and mobile app solutions are leveraged by a . Year-over-year quarterly sales growth most recently was -6.7%. The inference is that the entire stake had been unloaded in the interim. share. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Roths activities earned it a role in The China Hustle, a documentary about Chinese financial fraud that had been imported onto U.S. exchanges via such reverse mergers. Inpixon shares are trading lower after the company announced a 6.497 million common stock offering at $0.2775 per share. Often, direct offerings prohibit a purchaser from selling short the offering-companys shares for a period of time to help stabilize the share price. It is a potentially worrying sign of things to come. Create an account to follow your favorite communities and start taking part in conversations. Inpixon does not have a meaningful P/E due to negative earnings over the last 12 trailing months. Roths BrokerCheck report shows 26 total disclosure events, comprised of 14 regulatory events and 12 arbitrations. The Infrastructure segment offers third party hardware, software and related maintenance or warranty products and services. In connection with the proposed Business Combination, CXApp will file with the SEC a registration statement on Form S-1 (the "Form S-1") registering shares of CXApp common stock, and KINS will file with the SEC a registration statement on FormS-4(the "Form S-4") registering shares of KINS common stock, warrants and certain equity awards. If in 5 years, the micro and small cap markets devolve into a web of dubious wall-crossing offerings this little deal may mark a point in time where it all began. In addition, the Company is pursuing possible strategic transactions. Learn more about Inpixons proprietary sensors including Inpixon Pod, Inpixon Sensor 4000, and Inpixon Sensor Ultra. Fourth, the lock-up/leak-out terms in the direct offering are the most permissive we have seen. You can change your choices at any time by visiting your privacy controls. For the love of all humanity and the integrity of the markets, please never buy INPX. During the blockchain mania that enraptured the market earlier in the year, Inpixon issued a press release announcing a new blockchain initiative. The balance sheet shows $500,000 in cash, $4.5 million in total current assets and $11 million in notes and receivables due from a related party that are booked as long-term assets (i.e. ". All rights reserved. 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. Type a symbol or company name. PALO ALTO, Calif., Mar. ; The Inpixon 52-week low stock price is 1.58, which .
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