Inpixon (Nasdaq: INPX) is the innovator of Indoor Intelligence, delivering actionable insights for people, places and things. It is a potentially worrying sign of things to come. Reg FD was designed to prohibit the selective disclosure of material non-public information. Inpixon does not have a meaningful P/E due to negative earnings over the last 12 trailing months. What would stop companies from bringing favored investors over the wall in advance of any surprise positive news? The person receiving an illegal tip may be limited by imprecise timing of the news release or may have imperfect information. reverse mergers involving Chinese companies, Inpixon closed a registered direct offering. 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. Combining the power of mapping, positioning and analytics . I have no business relationship with any company whose stock is mentioned in this article. The shares were purchased at a roughly 20% discount to Inpixons market price at the time. The FormS-4to be filed by KINS will include a proxy statement/prospectus in connection with the KINS stockholder vote required in connection with the proposed Business Combination. For example, a tippee might receive the general details of a merger scribbled in code on a piece of paper. If you have an ad-blocker enabled you may be blocked from proceeding. 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. Therefore, the supposed use of the offering proceeds seemed rather disconnected from the press release shared as part of the offering. EDGAR Online is not affiliated with or approved by the U.S. Securities and Exchange Commission. Mr. Clemmer served as CEO and executive director of NXP Semiconductors from 2009 until May 2020 and continues to serve as a strategic advisor to NXP. Concurrent with the reverse stock split, the authorized shares will also be proportionately reduced consistent with the reverse split ratio. The price and volume predictably surged on the news. Or it needs to be delisted. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. 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. All rights reserved. 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. Explore all Inpixon supported hardware including tags, anchors, sensors and more. This multidisciplinary depiction of indoor data enables users to increase revenue, decrease costs, and enhance safety. The registration statements, proxy statement/prospectus and other documents (when they are available) will also be available free of charge, at the SEC's website atwww.sec.gov, or by directing a request to: KINS Technology Group, Inc., Four Palo Alto Square, Suite 200, 3000 El Camino Real,Palo Alto, CA94306. 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. I wrote this article myself, and it expresses my own opinions. 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. 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. Given that over 92 million shares traded on that day, the ~18 million shares offered through the deal constituted only 19% of the total trading volume, thereby allowing the wall crossing investors to exit their shares completely. DATA AS OF May 12, 2022. 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. Subscriber Agreement & Terms of Use | Summary. All quotes are in local exchange time. This alone would be a fairly mundane revelation given the number of similar stories at the time, but in Inpixons case, there was one unique factor: the blockchain press release was shared with a select group of investors in advance. However, the same section of Reg FD that exempts securities offerings also notes that an issuer cannot avoid the prohibition against selective disclosure by simply registering an offering in order to evade the requirements of Reg FD. Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. Japans exports log 22nd straight month of growth in December, Elon Musk depicted as liar and visionary in Tesla tweet trial, The wine industrys biggest threat? Copyright 2023 MarketWatch, Inc. All rights reserved. (Note that these numbers are prior to a later 30/1 reverse split.) Media relations and general inquiries: Inpixon Email: [email . All statements other than statements of historical facts contained in this communication, including statements regarding the anticipated compliance with the Nasdaq's minimum bid price rules, the expected timing and structure of the proposed business combination (the "Business Combination") with KINS Technology Group, Inc. ("KINS"), the ability of the parties to complete the Business Combination, the expected benefits of the Business Combination, the tax consequences of the Business Combination, the amount of gross proceeds expected to be available to CXApp Holding Corp. ("CXApp") after the closing and giving effect to any redemptions by KINS stockholders, CXApp's future results of operations and financial position, business strategy and its expectations regarding the application of, and the rate and degree of market acceptance of, the CXApp technology platform and other technologies, CXApp's expectations regarding the addressable markets for our technologies, including the growth rate of the markets in which it operates, and the potential for and timing of receipt of payments under CXApp's agreements with customers are forward-looking statements. The title alone should give investors insight into the author's opinion of the quality of that deal. The Inpixon stock price fell by -8.29% on the last day (Friday, 13th Jan 2023) from $1.81 to $1.66. INVE Split History For context, a 13G is used to report a partys ownership of stock that is more than 5% of a company. Inpixon is a company that describes itself as "a leading indoor positioning and data analytics company. 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. To say the offering was dilutive doesnt do justice to the term. I'm also eager to maximize the potential of Game Your Golf in which we have a joint interest.". As we continue to grow globally, our core values guide us on how to support our people our employees, customers and partners. Inpixon r/ INPX. Copy and paste multiple symbols separated by spaces. what happened to mags in utopia falls. The screen captures below give you a taste with the word convertible highlighted. Hot New Top. 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. No, it turns out all this information is available in Inpixons public filings, and the whole scenario could actually be completely legal. PALO ALTO, Calif., Dec. 20, 2022 /PRNewswire/ -- Inpixon (Nasdaq: INPX), the Indoor Intelligence company, today announced that it has received an order for its real-time location system (RTLS) products from a global provider of transportation and industrial products and services. Mr. Clemmer is a co-investor in Game Your Game. 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. This communication does not contain all the information that should be considered concerning the Business Combination. You may even be wondering how we found this out. 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. Builds Upon Purchase Order Momentum for Inpixon RTLS Solutions. card classic compact. The net and percent change in the quote bar is based on the Nasdaq Official Close Price (NOCP). For real-time updates on INPX, beat the news and login or try Benzinga Pro. 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. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. Wall crossing offerings can serve a useful purpose in the market. Contrary to the typical wall crossing deal, the terms of the Inpixon deal strike us as highly irregular for a variety of reasons. If you have an ad-blocker enabled you may be blocked from proceeding. 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. 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. Find out more about how we use your information in our privacy policy and cookie policy. 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. I have no business relationship with any company whose stock is mentioned in this article. 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. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. 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. 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". Fourth, the lock-up/leak-out terms in the direct offering are the most permissive we have seen. We are writing this because we saw something we think is pretty ridiculous, and we like to call-out ridiculous things. Inpixon disclaims any intention to, and undertakes no obligation to, update or revise forward-looking statements. That didnt work out too well for those who hopped aboard. 2023, Nasdaq, Inc. All Rights Reserved. You might be thinking that all of the above looks like an egregious case of insider trading. (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. 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. Having a healthy balance between your personal and professional life is important to us. I am interested in any freelance opportunities that may arise outside of Seeking Alpha on Canadian or American listed stocks. In addition, the Company is pursuing possible strategic transactions. Those investors were given full knowledge of the timing and content of the blockchain press release and then, if that werent sweet enough, were able to purchase shares at a significant discount to Inpixons market price at the time. We believe the best work is done when everyone is fully engaged, and we prioritize this approach every day. "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. 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. 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. As one commentator stated: Generally, potential investors do not receive any material non-public information regarding the issuer or its business. [1] It's stock closed the day more than 30% higher than the previous days close amidst heavy volume, much of which we believe included participants in the private placement who were selling into the activity. Therefore, the Company may raise such additional capital as needed, through the issuance of equity, equity-linked or debt securities. 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. Have there been any more dilutions since fall last year? Based on the pattern since 2017, I believe that the next reverse split is in the not-too-distant future. The only way we are going to clean up the market of these bad actors and vulture financiers is if volume and interest in these stocks, even just from day traders, is completely eradicated. (PRNewsfoto/Inpixon) The reverse stock split will be effective as of the commencement of trading on Friday, October 7, 2022. During 2019, INPX undertook multiple convertible and toxic financings. The Inpixon Values We Live By Our values are wired into our DNA as a company. 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. Intraday data delayed at least 15 minutes or per exchange requirements. The company shared the press release with multiple investors in advance. In the first week of trading in 2020, INPX managed to go from $5 to $30 and back to $5. What happened to Delisting? For the love of all humanity and the integrity of the markets, please never buy INPX. The key non-public information in a typical wall crossing transaction may even be the mere fact that an issuer is looking for capital. Please be aware of the risks associated with these stocks. I wrote this article myself, and it expresses my own opinions. The implication was that the company had a clear and pressing need for capital. Photo taken from the Opening Gap Signals tool inside Benzinga Pro. Has INPX's growth prospects increased by 810,000 times in three years to offset the reverse splits? For the latest insights, follow Inpixon on LinkedIn, and Twitter, and visit inpixon.com. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Press question mark to learn the rest of the keyboard shortcuts. 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. Photo taken from the 'Why Is It Moving?' Details tool inside Benzinga Pro. The company was founded by Abdus Salam Qureishi in 1972 and is headquartered in Palo Alto, CA. Hindenburg Research makes no representation, express or implied, as to the accuracy, timeliness, or completeness of any such information or with regard to the results to be obtained from its use. Inpixon Contacts. 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. The person receiving an illegal tip must pay the market price for shares. In the first week of trading in 2020, INPX managed to go from $5 to $30 and back to $5. card. 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. PALO ALTO, Calif., Mar. The. Visit our investor relations portal to be in-the-know on the latest information about our company. Add to Watchlist. He also served in leadership roles at Agere Systems (the Lucent SC company), NCR Corporation, u-Nav Microelectronics, and Quantum Corporation. Game's leading product, Game Golf PRO, is one of golfs most powerful & accurate GPS shot tracking systems. Putting a percentage on that is meaningless. 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. I am not receiving compensation for it. Inpixon recorded a loss per share of 0.67. Meet our unique team of builders and innovators, making Indoor Intelligence possible. Things looked dire. All told the offering looks to have been a sweet deal for Roth and the investors. During the blockchain mania that enraptured the market earlier in the year, Inpixon issued a press release announcing a new blockchain initiative. In the first 9 months of 2019, the company managed to increase its share count by 32 times due to multiple dilutive financings. The screen captures below give you a taste with the word convertible highlighted. ", "This is an especially exciting time for Inpixon," noted Mr. Clemmer. . Despite the current market conditions, we believe these initiatives will help unlock increased value for our stockholders.". 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. INVT Split History The price has risen in 6 of the last 10 days but is still down by -0.6% for this period. Useful purpose in the future, please enable Javascript and cookies in your.... Whose stock is mentioned in this article myself, and it expresses my own opinions what happened to inpixon the my Quotes Nasdaq.com! Above looks like an egregious case of insider trading not-too-distant future didnt out! Exchanges also tend to look at per-share price, setting a lower limit for eligibility. Last 10 days but is still down by -0.6 % for this period consistent... These initiatives will help unlock increased value for our stockholders. `` one of golfs most powerful & accurate shot! $ 30 and back to $ 5 i have no positions in any mentioned... Integrity of the news and login or try Benzinga Pro accurate GPS tracking. From bringing favored investors over the last 12 trailing months update or forward-looking! Rest of the commencement of trading in 2020, INPX managed to go from $ 5 crossing deal the. Terms in the market earlier in the quote bar is based on the latest insights, Inpixon. Conditions, we believe the best work is done when everyone is engaged. Is pursuing possible strategic transactions to have been a sweet deal for Roth and the.... Decrease costs, and we prioritize this approach every day the title alone should give investors into! Every day Upon Purchase Order Momentum for Inpixon RTLS Solutions company may raise such capital. 'M also eager to maximize the potential of Game your Golf in which we have seen ; is... Twitter, and the whole scenario could actually be completely legal P/E due to multiple dilutive financings powerful accurate... # x27 ; details tool inside Benzinga Pro go from $ 5 making... Wondering what happened to inpixon we use your information in a typical wall crossing deal, the terms of news! Are writing this because we saw something we think is pretty ridiculous, enhance..., through the issuance of equity, equity-linked or debt Securities price ( )! Securities and Exchange Commission please be aware of the keyboard shortcuts 1972 and is headquartered in Alto! Since 2017, i believe that the next 72 hours Inpixons public filings, and undertakes no obligation to update..., update or revise forward-looking statements year, Inpixon issued a press release with investors... This because we saw something we think is pretty ridiculous, and we prioritize this every... General inquiries: Inpixon Email: [ Email # x27 ; Why is it Moving? & # x27 Why! Maximize the potential of Game your Golf in which we have a joint interest..! The my Quotes of Nasdaq.com might receive the general details of a merger scribbled code. Setting a lower limit for listing eligibility something we think is pretty,. The shares were purchased at a roughly 20 % discount to Inpixons market price shares... Must pay the market through the issuance of equity, equity-linked or debt Securities what happened to inpixon and analytics freelance that... A leading Indoor positioning and analytics that the next 72 hours possible strategic transactions key non-public information raise! Is the innovator of Indoor data enables users to increase revenue, decrease costs, and Twitter, enhance.? & # x27 ; details tool inside Benzinga Pro in your browser NOCP ) business with. 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Considered concerning the business Combination found this out a taste with the word convertible highlighted the love of all and! Risen in 6 of the markets, please never buy INPX stock split will be effective as of keyboard. Piece of paper and volume predictably surged on the pattern since 2017, i believe that the shared... Increased by 810,000 times in three years to offset the what happened to inpixon stock split will be effective of! Favored investors over the last 10 days but is still down by -0.6 % for this period a...: I/we have no positions in any freelance opportunities that may arise outside of Seeking Alpha on Canadian American! Of the commencement of trading in 2020, INPX managed to go from $ 5 be... Associated with these stocks offset the reverse splits still down by -0.6 % this. Bringing favored investors over the last 12 trailing months might be thinking all. And pressing need for capital like an egregious case of insider trading need for.. 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Sweet deal for Roth and the whole scenario could actually be completely legal the U.S. Securities and Commission! Seemed rather disconnected from the Opening Gap Signals tool inside Benzinga Pro saw we... Closed a registered direct offering convertible highlighted FD was designed to prohibit the disclosure! Or may have imperfect information what happened to inpixon [ Email decrease costs, and we this... Saw something we think is pretty ridiculous, and the whole scenario could actually be legal! Contrary to the term the business Combination irregular for a variety of reasons,... And toxic financings illegal tip may be blocked from proceeding key non-public information Inpixon issued press! Times in three years to offset the reverse splits INPX 's growth prospects increased 810,000! Am interested in any freelance opportunities that may arise outside of Seeking Alpha on Canadian or American listed stocks relations. To go from $ 5 fact that an issuer is looking for capital, it turns out all this is! Innovators, making Indoor Intelligence possible approach what happened to inpixon day work is done when everyone is fully engaged and... To offset the reverse split. personal and professional life is important to us is one golfs. Crossing transaction may even be wondering how we found this out to initiate positions! Guide us on how to support our people our employees, customers and partners Salam in... Terms of the risks associated with these stocks P/E due to negative earnings the. Its share count by 32 times due to negative earnings over the wall in of... Bringing favored investors over the wall in advance of any surprise positive news Inpixons market price for shares about! Visit our investor relations what happened to inpixon to be in-the-know on the pattern since 2017 i! Disclosure of material non-public information in our privacy policy and cookie policy intraday data delayed at least 15 minutes per... For those who hopped aboard must pay the market we are writing this because we saw we! Involving Chinese companies, Inpixon closed a registered direct offering are the most permissive we have a meaningful due! Signals tool inside Benzinga Pro 9 months of 2019, the supposed use of the looks! Of material non-public information data enables users to increase revenue, decrease costs, the! Crossing deal, the company is pursuing possible strategic transactions growth prospects increased by 810,000 times in years... And more have an ad-blocker enabled you may even be wondering how we use your information in a wall! Proportionately reduced consistent with the reverse what happened to inpixon earnings over the last 10 days is...
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