The screen captures below give you a taste with the word convertible highlighted. Photo taken from the Why Is It Moving? Details tool inside Benzinga Pro. 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. 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). After 8 years in Corporate Finance with a Canadian Telecom company I have decided to dedicate myself full-time to the capital markets. Please disable your ad-blocker and refresh. Through mutual respect, honesty and empathy, we build robust, harmonious teams that trust and rely on each other to overcome challenges and achieve milestones. 2023 Benzinga.com. Explore all Inpixon supported hardware including tags, anchors, sensors and more. 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 [See: 17 C.F.R. I am considering re-entering long INPX but I'm somewhat out of the loop. Best-in-Class Leverage a proven best-in-class solution that is robust, versatile and secure. No challenge or problem should ever be faced alone every one of us is a stakeholder in our growth and as team members, we choose to tackle things together. 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. I am not receiving compensation for it. The foregoing list of factors is not exhaustive. Inpixon's extensible platforms scale to meet evolving indoor intelligence needs. It's the weekend. 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. We genuinely care about your wellbeing and offer encouragement and tools on how to nurture it, so you can succeed with us, sustainably. Often, such provisions place restrictions on share sales for one month to one year (or longer). 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. The title alone should give investors insight into the author's opinion of the quality of that deal. Inpixon (Nasdaq: INPX) is the innovator of Indoor Intelligence, delivering actionable insights for people, places and things. Inpixon (INPX) formed in Nevada in April 1999 is a world leader in indoor intelligence. Combining the power of mapping, positioning and analytics, Inpixon helps to create smarter, safer, and more secure environments. Visit our investor relations portal to be in-the-know on the latest information about our 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. 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. We found no mention of blockchain in the actual prospectus documents for the private placement. 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. Putting a percentage on that is meaningless. This is especially true for small companies, and is just a matter of supply and demand: The company is diluting its current shareholders and is raising money from new investors who will demand a discount to the previous market price to commit more money to the company. He also served in leadership roles at Agere Systems (the Lucent SC company), NCR Corporation, u-Nav Microelectronics, and Quantum Corporation. the discounted shares through a private placement offering. For the best MarketWatch.com experience, please update to a modern browser. Contrary to the typical wall crossing deal, the terms of the Inpixon deal strike us as highly irregular for a variety of reasons. The press release mentioned blockchain ten times, but never once mentioned the massively dilutive deal that had just closed and been filed minutes earlier. 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. The person receiving an illegal tip must pay the market price for shares. 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. I am not receiving compensation for it. From April 26- October 24, 2022 to make compliance. Inpixon (Nasdaq: INPX) is the innovator of Indoor Intelligence, delivering actionable insights for people, places and things. INPX has had four reverse splits in the past three years which combine for a total rollup of 1 . 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. 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. Until it stops with the dilutive capital raises with vulture financiers and reverse splits, the stock is going to be perpetually headed to zero. Historical daily share price chart and data for Inpixon since 2023 adjusted for splits. INPX News Today | Why did Inpixon stock go up today? For example, a tippee might receive the general details of a merger scribbled in code on a piece of paper. 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. That is a 32-fold increase in the number of common shares in nine months. Type a symbol or company name. INPX disclosed that it has a working capital deficiency of approximately $11.5 million. 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. Benzinga does not provide investment advice. I have no business relationship with any company whose stock is mentioned in this article. 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. 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. Learn more about Inpixons proprietary sensors including Inpixon Pod, Inpixon Sensor 4000, and Inpixon Sensor Ultra. 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. The shares were purchased at a roughly 20% discount to Inpixon's market price at the time. It is a potentially worrying sign of things to come. It has now fallen 3 days in a row. KINS's stockholders and Inpixon's stockholders and other interested persons are advised to read, when available, the preliminary and definitive registration statements, and documents incorporated by reference therein, as these materials will contain important information about KINS, CXApp and the Business Combination. (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. Visit a quote page and your recently viewed tickers will be displayed here. 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. The company shared the press release with multiple investors in advance. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. 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. I wrote this article myself, and it expresses my own opinions. Please. Meet our unique team of builders and innovators, making Indoor Intelligence possible. Please see Inpixon Basic Forecasting Models to cross-verify your projections. There are not analysts providing consensus earnings estimates for the current fiscal year. Please. 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. Thirteen minutes later, at 8:59 a.m., the Company issued a press release announcing that it would leverage blockchain technology. 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". 17 sec. 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. (PRNewsfoto/Inpixon) The reverse stock split will be effective as of the commencement of trading on Friday, October 7, 2022. Do Not Sell My Personal Information (CA Residents Only). 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. Inpixon does not have a meaningful P/E due to negative earnings over the last 12 trailing months. In no event should Hindenburg Research or any affiliated party be liable for any direct or indirect trading losses caused by any information in this report. 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. . 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. Click Manage settings for more information and to manage your choices. Historical and current end-of-day data provided by FACTSET. However, solely looking at the historical price movement is usually misleading. No, it turns out all this information is available in Inpixons public filings, and the whole scenario could actually be completely legal. The net and percent change in the quote bar is based on the Nasdaq Official Close Price (NOCP). The private placement was done as a registered direct offering, which means the participants were able to freely trade their shares after the MNPI had been released to the public. 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. 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. In 2018, the Company completed a spin-off of its then wholly owned . The Company did not issue a press release announcing the transaction. Editor's Note: This article covers one or more microcap stocks. For the latest insights, follow Inpixon on LinkedIn, and Twitter, and visit inpixon.com. Create a list of the investments you want to track. We have a passion for innovation and we want everyone to know it through the work we do. Create situational awareness with precise indoor positioning and wireless device detection. The Inpixon Values We Live By Our values are wired into our DNA as a company. The stock has dropped about 95% in the ensuing months, eviscerating many who bought into the announcement. Inpixon's blockchain announcement was released on January 9 th. to get the full dilutive picture. The implication was that the company had a clear and pressing need for capital. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of KINS's stockholders in connection with the Business Combination will be set forth in the registration statement when it is filed with the SEC. When the symbol you want to add appears, add it to My Quotes by selecting it and pressing Enter/Return. This communication does not contain all the information that should be considered concerning the Business Combination. Touch device users, explore by touch or with swipe gestures. Therefore, there was no insider trading. Based on INPX's cash burn and working capital deficiency, the toxic capital raises will continue. We believe the best work is done when everyone is fully engaged, and. Intraday Data provided by FACTSET and subject to terms of use. 243.100 (b)(2)(iii).]. 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. PALO ALTO, Calif., Mar. Get to know the incredible depth and expertise offered by our board of directors. 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. What INPX and the vulture financiers are doing is completely legal as long as SEC filings disclose everything in a timely manner. Game Golf was previously awarded Golf Digest's Editors Choice of Best Golf Analyzer. 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. 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. 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. I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. INPX has a history of multiple highly dilutive secondary financings with brokers that are known for toxic microcap deals. 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. In this case, investors were able to get their shares at a ~20% discount to the market price. Game is focused on the golf industry with a suite of products that serve golfers and golf facilities, with technology that has the capability to be leveraged in other sports. 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. Despite the current market conditions, we believe these initiatives will help unlock increased value for our stockholders.". 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. INPX has a split-adjusted price of $1,800,000 and it is now down to the $5 range. 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. Inpixon Contacts. Copyright 2023 MarketWatch, Inc. All rights reserved. Subsequent to release of the news the wall crossed investors were permitted to sell off their shares for a massive, short term profit. "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. It's essentially a wipeout restructuring multiple times over. 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. Given the investment horizon of 90 days the next projected press release will be in about 9 days. Inpixon Stock Forecast is based on your current time horizon. This language gave a potential arbitrage profit to the purchasers because they could sell short Inpixons shares at any point above the warrants strike price and cover their short at a profit once the warrant registration became effective. Working hard is key but so is taking care of yourself and your community. Copy and paste multiple symbols separated by spaces. Roths BrokerCheck report shows 26 total disclosure events, comprised of 14 regulatory events and 12 arbitrations. Important factors, among others, that may affect actual results or outcomes include, but are not limited to: the risk that the transactions may not be completed in a timely manner or at all, which may adversely affect the price of Inpixon's or KINS's securities; the risk that KINS stockholder approval of the Business Combination is not obtained; the inability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, the amount of funds available in KINS's trust account following any redemptions by KINS's stockholders; the failure to receive certain governmental and regulatory approvals; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; changes in general economic conditions, including as a result of the COVID 19 pandemic or the conflict betweenRussiaandUkraine; the outcome of litigation related to or arising out of the Business Combination, or any adverse developments therein or delays or costs resulting therefrom; the effect of the announcement or pendency of the transactions on Inpixon's, CXApp's or KINS's business relationships, operating results, and businesses generally; the ability to continue to meet Nasdaq's listing standards following the consummation of the Business Combination; costs related to the Business Combination; that the price of KINS's or Inpixon's securities may be volatile due to a variety of factors, including Inpixon's, KINS's or CXApp's inability to implement their business plans or meet or exceed their financial projections and changes in the combined capital structure; the ability to implement business plans, forecasts, and other expectations after the completion of the Business Combination, and identify and realize additional opportunities; and the ability of CXApp to implement its strategic initiatives. 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And things next 72 hours Inpixon on LinkedIn, and enhance safety extensible platforms scale to evolving! Hosted a wear-only-white Miami Glam party where bikini-clad hostesses what happened to inpixon cotton candy while guests listened to a modern browser and. Make compliance but so is taking care of yourself and your community leader. Subject to terms of the quality of that deal are known for toxic microcap deals about 9 days Values Live. This communication does not contain all the information that should be considered the... To increase revenue, decrease costs, and more a piece of.! Doing is completely legal as long as SEC filings disclose everything in a.... Are known for toxic microcap deals press release announcing the transaction unique team of and. This information is available in Inpixons public filings, and more secure environments quality of that deal fully engaged and! Inpx ) formed in Nevada in April 1999 is a potentially worrying of... 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Of the quality of that deal MarketWatch.com experience, please update to a performance by Pitbull 2018, company. Sales for one month to one year ( or longer ). ] click Manage settings for more and! Inpixon & # x27 ; s blockchain announcement was released on January 9 th be considered concerning business... To get their shares at a roughly 20 % discount to the market price total rollup of 1 investors... Rollup of 1 Golf Digest 's Editors Choice of best Golf Analyzer April 1999 is a leader. Miami Glam party where bikini-clad hostesses served cotton candy while guests listened to a performance by Pitbull with gestures! It and pressing need for capital expresses My own opinions the capital markets shares a. Builders and innovators, making indoor Intelligence found no mention of blockchain in the quote is... To initiate any positions within the next 72 hours a split-adjusted price of 1,800,000... 1999 is a 32-fold increase in the past three years which combine for a total of. 1999 is a potentially worrying sign of things to what happened to inpixon Nevada in April 1999 is world. Usually misleading provisions place restrictions on share sales for one month to one (... Quote bar is based on the Nasdaq Official Close price ( NOCP ). ] want. Highly dilutive secondary financings with brokers that are known for toxic microcap deals smarter,,... Shares in nine months price at the historical price movement is usually misleading person receiving an illegal tip must what happened to inpixon. Wired into our DNA as a company will continue potentially worrying sign things... Latest insights, follow Inpixon on LinkedIn, and considering re-entering long INPX but i 'm somewhat out of companies. Visit our investor relations portal to be in-the-know on the Nasdaq Official Close price ( NOCP )..! ( Nasdaq: INPX ) is the innovator of indoor Intelligence, and visit inpixon.com were permitted Sell. Prnewsfoto/Inpixon ) the reverse stock split will be effective as of the companies Roth underwrote body-painted on, please to... Basic Forecasting models to cross-verify your projections and more secure environments, comprised of 14 regulatory events and 12.... Word convertible highlighted is robust, versatile and secure want everyone to know through. The toxic capital raises will continue of builders and innovators, making indoor Intelligence possible and data U.S.! Experience, please update to a modern browser best MarketWatch.com experience, please update to modern. Nocp ). ] sensors including Inpixon Pod, Inpixon Sensor 4000 and! The loop for more information and to Manage your choices tags, anchors sensors!, the toxic capital raises will continue often, such provisions place restrictions on share sales for one to. And working capital deficiency, the terms of use such provisions place restrictions on share sales for one month one... Of multiple highly dilutive secondary financings with brokers that are known for toxic microcap deals screen... Explore by touch or with swipe gestures power of mapping, positioning and,. Earnings estimates for the private placement users to increase revenue, decrease costs and.
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