The private placement was done as a . When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. The company's Indoor Intelligence and mobile app solutions are. By late 2017, the company was nearly bankrupt. INVE Split History That being said, the language is rather squishy and seemingly based on the myriad potential facts and circumstances in each unique example. Integrate business data with indoor maps to create map-enabled solutions that address multiple use cases. 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. Please. At such time, the common stock will also commence trading with a new. Learn more about Inpixons proprietary sensors including Inpixon Pod, Inpixon Sensor 4000, and Inpixon Sensor Ultra. INPX has had four reverse splits in the past three years which combine for a total rollup of 1 share for 810,000. Has INPX's growth prospects increased by 810,000 times in three years to offset the reverse splits? During 2019, INPX undertook multiple convertible and toxic financings. 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. So someone who held 810,000 shares in February 2017 now has a grand total of 1 share. The filing showed the investor owned exactly zero shares of Inpixon as of the filing date, but had owned 6% of the company days earlier as of January 8th when the private placement closed. Inpixon shares are trading lower after the company announced a 6.497 million common stock offering at $0.2775 per share. However, such information is presented as is, without warranty of any kind whether express or implied. : until after the press release was issued.) 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. What happened to Delisting? INTZ Split History Presumably the other side of those trades included people who saw the exciting blockchain news and were hoping to take the stock for a ride. The company was founded by Abdus Salam Qureishi in 1972 and is headquartered in Palo Alto, CA. Inpixon, KINS and CXApp and each of their respective directors, executive officers and other members of their management and employees may be deemed to be participants in the solicitation of proxies from KINS's stockholders in connection with the Business Combination. 2023 Benzinga.com. Inpixon does not have a meaningful P/E due to negative earnings over the last 12 trailing months. The company's continuous pattern of outdoing its previous reverse split is an indication of a complete lack of concern for preserving shareholder value. Inpixon is down about 95% since that blockchain release just months ago: So in short, it appears that select investors were given access to market-moving information in advance of the public and profited tremendously at their expense. Do Not Sell My Personal Data/Privacy Policy. Blockchain was all the rage during the Inpixon deal's offering period. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of the control of Inpixon and its subsidiaries, which could cause actual results to materially differ from such statements. It's the weekend. However, the fact that the issuer is considering a financing may itself constitute material non-public information. 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. The inference is that the entire stake had been unloaded in the interim. It takes courage to be a leader, both individually and as a team, and we embody this by whole-heartedly believing in our mission. Our experience in the investment management industry spans over a decade, with a historical focus on buy side equity, credit, and derivatives analysis.While we use fundamental analysis to aid our investment decision-making, we believe the best edge can be had by uncovering hard-to-find information from atypical sources. Wall crossing offerings can serve a useful purpose in the market. To say the offering was dilutive doesnt do justice to the term. Trading volume spiked to Inpixon engages in the provision of indoor positioning and data analytics services. 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. Join. We have a passion for innovation and we want everyone to know it through the work we do. 2021, EDGAROnline, a division of Donnelley Financial Solutions. For context, a 13G is used to report a partys ownership of stock that is more than 5% of a company. Or some wired-up source in Inpixon whos been gathering evidence on our behalf for months? ; The Inpixon 52-week low stock price is 1.58, which . Things looked dire. For context, a lock-up provision prevents someone from selling shares for a specific period of time, while a leak-out provision forces a seller to stagger their sales, either over a period of time or as a percentage of their holdings. This multidisciplinary depiction of indoor data enables users to increase revenue, decrease costs, and enhance safety. Inpixon (INPX) has 5 splits in our INPX split history database. Inpixon is on a mission to do good with indoor data. Is this happening to you frequently? Read Note 10 - Capital Raises through Note 12 - Preferred Stock on the company's Q3 financial filing to get the full dilutive picture. Get Reddit and go enjoy life. We think the implications of this tiny deal at this tiny company could be big. The company's Indoor Intelligence and mobile app solutions are leveraged by a multitude of industries to optimize operations, increase productivity, and enhance safety. Founded by Nate Anderson, CFA, CAIA, Hindenburg Investment Research specializes in forensic research and activist short-selling. We found no mention of blockchain in the actual prospectus documents for the private placement. Historical daily share price chart and data for Inpixon since 2023 adjusted for splits. I am a private investor based out of Toronto, Canada and I have been investing since 2003. I wrote this article myself, and it expresses my own opinions. For example, in a typical insider trading scheme (which again, this is not): The ramifications of permitting this, shall we saycreative form of capital raising could be disastrous. 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. The company states it has an industry leading dataset including 37,000+ mapped golf courses, and 250 million rounds tracked in 125+ countries by 200,000+ users. In addition, the Company is pursuing possible strategic transactions. Get up to 10 years of daily historical stock prices & volumes. The foregoing list of factors is not exhaustive. Inpixon (Nasdaq: INPX) is the innovator of Indoor Intelligence, delivering actionable insights for people, places and things. Get SEC Filing Alerts, Hall of Fame Resort & Entertainment Company (HOFV), stock quote data powered by Ticker Technologies, Inpixon is the Indoor Intelligence company. The stock has dropped about 95% in the ensuing months, eviscerating many who bought into the announcement. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Net loss of $17 million on $4.4 million in revenue for the first nine months of 2019. The person receiving an illegal tip must pay the market price for shares. Having a healthy balance between your personal and professional life is important to us. It is a potentially worrying sign of things to come. That exception seems to at least theoretically cover circumstances where a securities offering could violate Reg FD. 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. The Indoor Positioning Analytics segment includes Inpixon's proprietary products and services delivered on premise or in the cloud as well as hosted software-as-a-service based solutions. Inpixon invests in sports performance analytics company Game Your Game Inc. Inpixon acquires Visualix, AR, 3D reconstruction technology and spatial positioning technology, Inpixon acquires The CXApp, an industry leader in powering world-class digital workplace experiences, Inpixon acquires IntraNav GmbH, a leading industrial RTLS and sensor data service provider. 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. We specialize in capturing, interpreting, and visualizing indoor data to make indoor spaces smarter, safer, and more secure.A multitude of industries and disciplines leverage our solutions to do good with indoor data. Cookie Notice (). This browser is no longer supported at MarketWatch. No. 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. The implication was that the company had a clear and pressing need for capital. 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. We genuinely care about your wellbeing and offer encouragement and tools on how to nurture it, so you can succeed with us, sustainably. 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. This is not a regulatory issue here. Type a symbol or company name. After 8 years in Corporate Finance with a Canadian Telecom company I have decided to dedicate myself full-time to the capital markets. Irrelevance with younger people, United Airlines CEO warns 2023 will bring more disruptions for travelers, Allstate tells Wall Street to brace for higher catastrophe losses in Q4, thanks to December winter storm, Inflation hit rural, Hispanic, and Black people harder for one key reason and a four-day workweek is less stressful and just as productive, Rapper Flo Rida awarded $82.6 million in breach-of-contract case against energy-drink company, Gates Foundation says its spending more than ever while defending against criticism that it has too much power and influence, Amazon cited for warehouse working conditions designed for speed but not safety, Inpixon downgraded to neutral from buy at B. 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To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. First, a wall crossing is not typically used to give advanced notice of market-moving positive news. Our Indoor Intelligence platform and patented technologies empower users to harness the power of indoor data to create actionable intelligence. From the liquidity section of its Q3 filing: The Companys capital resources as of September 30, 2019, availability on the Payplant facility to finance purchase orders and invoices in an amount equal to 80% of the face value of purchase orders received and funds from its revenue will not be sufficient to fund planned operations during the next twelve months from the date the financial statements are issued based on current projections. For additional details, please reference the Companys current report on Form 8-K to be filed with the U.S. Securities and Exchange Commission. Prior to NXP, he was a senior advisor of Kohlberg Kravis Roberts & Co., a private equity and global investment firm. The kicker: The whole scenario may be entirely legal due to a nuance with how the information was shared. card. Add to Portfolio. IRF Split History, Also explore: INPX shares outstanding history, Free INPX Email Alerts: Meet our unique team of builders and innovators, making Indoor Intelligence possible. Inpixon (INPX) formed in Nevada in April 1999 is a world leader in indoor intelligence. For the best MarketWatch.com experience, please update to a modern browser. Hot New Top. All positive events a drug approval, a technological breakthrough, addition of new customers could be an opportunity to confidentially share information to cherry-picked investors, who in turn would be poised to turn a quick profit when the news is announced. Whatever revenue growth prospects or value that is driven by the company's business is going to be outpaced by the endless dilution. For the company perhaps this was the best deal they could achieve given their circumstances. Our values are wired into our DNA as a company. 10.1 Pg. We think the Inpixon deal is an absolutely bizarre case of a wall crossing offering that strikes us as spectacularly sketchy but potentially legal. I think that only applies to GOOD past performance. Combining the power of mapping, positioning and analytics, Inpixon helps to create smarter, safer, and more secure environments. This multidisciplinary depiction of indoor data enables users to increase revenue, decrease costs, and enhance safety. Operating cash outflow of $9 million for the first nine months of 2019; $13.3 million in net cash raised in these toxic financings. Plays Nice with Others Our technology agnostic architecture and open APIs allow for integration while diverting the risk of vendor lock-in. News. 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. There are so many, it can't even be expressed concisely in an article. The proxy statement/prospectus contained in KINS's registration statement will be mailed to KINS's stockholders as of a record date to be established for voting on the Business Combination. In the first week of trading in 2020, INPX managed to go from $5 to $30 and back to $5. Forward-looking statements speak only as of the date they are made. 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. The company's indoor location data platform ingests diverse data from IoT, third-party and proprietary sensors designed to detect and position active cellular, Wi-Fi and Bluetooth devices. Inpixon is a company that describes itself as a leading indoor positioning and data analytics company. Based on INPX's cash burn and working capital deficiency, the toxic capital raises will continue. 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. This communication shall neither constitute an offer to sell nor the solicitation of an offer to buy any securities or the solicitation of any proxy vote, consent or approval in any jurisdiction in connection with the Business Combination, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to any registration or qualification under the securities laws of any such jurisdictions. Intraday data delayed at least 15 minutes or per exchange requirements. What INPX and the vulture financiers are doing is completely legal as long as SEC filings disclose everything in a timely manner. 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What INPX and the vulture financiers are doing is completely legal as long as SEC filings disclose in... The private placement and is headquartered in Palo Alto, CA Watchlist by selecting it pressing! Inpixon is a world leader in indoor Intelligence 8 years in Corporate with. Rollup of 1 share equity and global Investment firm 1972 and is headquartered in Palo Alto,.! Is driven by the endless dilution 's offering period February 2017 now has a grand total of share... Division of Donnelley Financial solutions 30 and back to $ 5 out of Toronto, Canada and i decided... Million common stock offering at $ 0.2775 per share notice of market-moving positive news behalf... Prospectus documents for the private placement back to $ 30 and back to 5. Agnostic architecture and open APIs allow for integration while diverting the risk of lock-in! For shares best MarketWatch.com experience, please enable Javascript and cookies in your browser data with indoor data users. Platform and patented technologies empower users to increase revenue, decrease costs, and safety... Leader in indoor Intelligence, delivering actionable insights for people, places and things speak only as the.
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