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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): August 15, 2022

 

INPIXON

(Exact name of registrant as specified in its charter)

 

Nevada   001-36404   88-0434915
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (I.R.S. Employer
Identification No.)

 

2479 E. Bayshore Road, Suite 195

Palo Alto, CA

  94303
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (408) 702-2167

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company 

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class   Trading Symbol(s)   Name of Each Exchange on Which Registered
Common Stock   INPX   The Nasdaq Stock Market LLC

 

 

 

 

 

 

Item 2.02 Results of Operations and Financial Condition.

 

On August 15, 2022, Inpixon issued a press release and will hold a conference call regarding its financial results for the quarter ended June 30, 2022. The press release is included as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein, and the description of the press release is qualified in its entirety by reference to such Exhibit.

 

The information furnished with this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

 

Inpixon is making reference to non-GAAP financial information in both the press release and the conference call. A reconciliation of GAAP to non-GAAP results is provided in the attached Exhibit 99.1 press release.

 

Item 9.01 Financial Statements and Exhibits.

 

Exhibit No.   Description
99.1   Press Release dated August 15, 2022.
104   Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

1

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  INPIXON
   
Date: August 15, 2022 By: /s/ Nadir Ali
  Name:  Nadir Ali
  Title: Chief Executive Officer

  

 

2

 


Exhibit 99.1

 

 

Inpixon Reports Second Quarter 2022 Financial Results and Provides Business Update

 

Achieves 55% Increase in Revenue for Six Months Ended June 30, 2022 Versus Same Period Last Year

 

Conference Call to be Held Today at 4:30 p.m. Eastern Time

 

PALO ALTO, Calif., August 15, 2022 /PRNewswire/ -- Inpixon® (Nasdaq: INPX), the Indoor Intelligence® company, today provided a business update and reported financial results for its 2022 second quarter ended June 30, 2022.

 

“We continued to show growth during the second quarter despite macroeconomic challenges, illustrated by achieving $4.7 million in revenue for the three months and $10.0 million for the six months ended June 30, 2022, a 37% and 55% increase, respectively, when compared to the prior year periods,” commented Nadir Ali, CEO of Inpixon. “Notably, our revenue growth is shifting to more organic growth, and while we are adding new enterprise organizations to our customer base every quarter, we are also deepening our relationship with our existing customers with add-ons and new integrations after our initial deployment.

 

“We have designed our solutions and technologies to help organizations create and redefine exceptional workplace experiences that enable smarter, safer and more secure environments, while attaining higher levels of productivity, improved worker and employee satisfaction rates, and a more connected workplace. Due to our marketing and sales activities coupled with third-party recognition and awards, we continue to see top-tier organizations implementing our technologies into their organizations. Additionally, our enterprise apps recently received ISO/IEC certification, confirming our information security policies and processes meet stringent industry best practices and standards. As a result, we believe this and our other certifications will allow us to move through customer engagements and sign new contracts more swiftly.

 

“Furthermore, we recently joined SAP’s partner program where we are able to market our smart factory, smart warehouse, and digital supply chain solutions to SAP’s 440,000 customers through the SAP store. We believe this partner program will result in increased demand for our solutions, as well as increased exposure around the world.

 

 

 

 

“Overall, while we are cognizant of the macroeconomic challenges that may continue to lie ahead, we are focused on increasing efficiencies operationally, while also working to ensure that we continue to meet our growth goals,” concluded Mr. Ali.

 

Financial Results

 

Revenues for the three and six months ended June 30, 2022, were $4.7 million and $10.0 million, respectively, compared to $3.5 million and $6.4 million for the comparable periods in the prior year for an increase of approximately 37% and 55%, respectively. This increase is primarily attributable to the increase in Indoor Intelligence sales, including our smart office app and real time location-based technologies as well as the addition of the Industrial IoT product line in the fourth quarter of 2021. Gross profit for the three and six months ended June 30, 2022, was $3.3 million and $7.2 million, respectively, compared to $2.6 million and $4.6 million for the 2021 respective periods, representing an increase of 30% and 55%, respectively. The gross profit margin for the three and six months ended June 30, 2022, was 70% and 72%, compared to 74% and 72% for the three and six months ended June 30, 2021, respectively. This decrease in margin is primarily due to the sales mix during the periods.

 

Net loss attributable to stockholders of Inpixon for the three and six months ended June 30, 2022, was $19.9 million and $31.1 million, respectively, compared to income of $14.8 million and $2.2 million, respectively, for the comparable periods in the prior year. This increase in loss was primarily attributable to non-cash items in the three months ended June 30, 2021 period including the discounted net gain on the Sysorex note and the release of the valuation allowance on the Sysorex note, offset by increased operating expenses in the three and six months ended June 30, 2022.

 

Non-GAAP Adjusted EBITDA for the three and six months ended June 30, 2022, was a loss of $9.9 million and $18.7 million, respectively, compared to a loss of $6.3 million and $11.8 million for the prior year periods, respectively. Non-GAAP Adjusted EBITDA is defined as net income or loss before interest, provision for income taxes, depreciation and amortization plus adjustments for other income or expense items, non-recurring items and non-cash items including stock-based compensation.

 

Proforma non-GAAP net loss per basic and diluted common share for the three and six months ended June 30, 2022, was a loss of $0.07 per share and $0.13 per share, respectively, compared to a loss of $0.07 per share and $0.14 per share for the prior year periods. Non-GAAP net loss per share is defined as net loss per basic and diluted share adjusted for non-cash items including stock-based compensation, amortization of intangibles and one-time charges and other adjustments including loss on the exchange of debt for equity, provision for valuation allowance on notes, and acquisition costs.

 

2

 

 

Conference Call

 

Inpixon management will host a conference call today at 4:30 p.m. Eastern Time to discuss the company’s financial results for the second quarter ended June 30, 2022, as well as to review the company’s corporate progress and other developments.

 

The conference call will be available via telephone by dialing toll-free +1 888-506-0062 for U.S. callers or +1 973-528-0011 for international callers and entering access code 618409. A webcast of the call may be accessed at https://www.webcaster4.com/Webcast/Page/2235/46295 or on the company’s Investor Relations section of the website, ir.inpixon.com.

 

Investors and other interested parties are invited to submit questions to management prior to the call’s start via email to inpx@crescendo-ir.com.

 

A webcast replay will be available on the company’s Investor Relations section of the website (ir.inpixon.com) through August 15, 2023. A telephone replay of the call will be available approximately one hour following the call, through August 22, 2022, and can be accessed by dialing 877-481-4010 for U.S. callers or +1 919-882-2331 for international callers and entering access code 46295.

 

About Inpixon

 

Inpixon® (Nasdaq: INPX) is the innovator of Indoor Intelligence®, delivering actionable insights for people, places and things. Combining the power of mapping, positioning and analytics, Inpixon helps to create smarter, safer, and more secure environments. The company’s Indoor Intelligence and mobile app solutions are leveraged by a multitude of industries to optimize operations, increase productivity, and enhance safety. Inpixon customers can take advantage of industry leading location awareness, RTLS, workplace and hybrid event solutions, analytics, sensor fusion, IIoT and the IoT to create exceptional experiences and to do good with indoor data. For the latest insights, follow Inpixon on LinkedIn, Twitter, and visit inpixon.com.

 

Safe Harbor Statement

 

All statements in this release that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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. 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. Such risks, uncertainties, and other factors include, but are not limited to, the fluctuation of economic conditions, the impact of COVID-19, global conflicts, inflation and other global events on Inpixon’s results of operations and global supply chain constraints, Inpixon’s 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 Inpixon’s technology, Inpixon’s ability to maintain compliance with Nasdaq’s minimum bid price requirement and other continued listing requirements, the ability to obtain financing if needed, competition, general economic conditions and other factors that are detailed in Inpixon’s periodic and current reports available for review at sec.gov. Furthermore, Inpixon operates in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. Inpixon disclaims any intention to, and undertakes no obligation to, update or revise forward-looking statements.

 

3

 

 

Non-GAAP Financial Measures

 

Management believes that certain financial measures not in accordance with generally accepted accounting principles in the United States (“GAAP”) are useful measures of operations. EBIDTA, Adjusted EBITDA and pro forma net loss per share are non-GAAP measures. Inpixon defines “EBITDA” as net income (loss) before interest, provision for (benefit from) income taxes, and depreciation and amortization. Management uses Adjusted EBITDA as a metric for which it manages the business, and Inpixon defines “Adjusted EBITDA” as EBITDA plus adjustments for other income or expense items, non-recurring items and non-cash items. Inpixon defines “pro forma net loss per share” as GAAP net loss per share adjusted for stock-based compensation, amortization of intangibles and one-time charges including loss on the exchange of debt for equity and provision for valuation allowances.

 

Management provides Adjusted EBITDA and pro forma net loss per share measures so that investors will have the same financial information that management uses, which may assist investors in assessing Inpixon’s performance on a period-over-period basis. Adjusted EBITDA or pro forma net loss per share is not a measure of financial performance under GAAP, and should not be considered an alternative to net income (loss) or any other measure of performance under GAAP, or to cash flows from operating, investing or financing activities as an indicator of cash flows or as a measure of liquidity. Adjusted EBITDA and pro forma net loss per share have limitations as analytical tools and should not be considered either in isolation or as a substitute for analysis of Inpixon’s results as reported under GAAP.

 

For more information on our non-GAAP financial measures and a reconciliation of GAAP to non-GAAP measures, please see the “Reconciliation of Non-GAAP Financial Measures” table accompanying this press release.

 

Inpixon Contacts

 

General inquiries:

 

Inpixon

Email: marketing@inpixon.com

Web: inpixon.com/contact-us

 

Investor relations:

 

Crescendo Communications, LLC

Tel: +1 212-671-1020

Email: INPX@crescendo-ir.com

 

4

 

 

INPIXON AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except number of shares and par value data)

 

   As of 
   June 30,
2022
   December 31,
2021
 
   (Unaudited)   (Audited) 
ASSETS        
Current Assets        
Cash and cash equivalents  $65,755   $52,480 
Accounts receivable, net of allowances of $268 and $272, respectively   2,767    3,218 
Other receivables   311    321 
Inventory, net realizable value   1,581    1,976 
Short-term investments   -    43,125 
Note receivable   5,967    - 
Prepaid assets and other current assets   3,463    4,842 
Total Current Assets   79,844    105,962 
           
Property and equipment, net   1,348    1,442 
Operating lease right-of-use asset, net   1,582    1,736 
Software development costs, net   1,647    1,792 
Investment in Equity Securities   582    1,838 
Long-term investments   2,500    2,500 
Intangible assets, net   30,126    33,478 
Goodwill   -    7,672 
Other assets   217    253 
Total Assets  $117,846   $156,673 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
Current Liabilities          
Accounts payable  $900   $2,414 
Accrued liabilities   4,116    10,665 
Operating lease obligation, current   600    643 
Deferred revenue   3,638    4,805 
Short-term debt   1,911    3,490 
Acquisition liability   3,486    5,114 
Total Current Liabilities   14,651    27,131 
           
Long Term Liabilities          
Operating lease obligations, noncurrent   1,022    1,108 
Other liabilities, noncurrent   28    28 
Acquisition liability, noncurrent   --    220 
Total Liabilities   15,701    28,487 
           
Commitments and Contingencies   --    -- 
           
Mezzanine Equity          
Series 7 Convertible Preferred Stock - 58,750 shares authorized; zero and 49,250 issued and outstanding as of June 30, 2022 and December 31, 2021, respectively.   --    44,695 
Series 8 Convertible Preferred Stock - 53,197.7234 shares authorized; 53,197.7234 and zero issued and outstanding as of June 30, 2022 and December 31, 2021, respectively. (Liquidation preference of $53,197,723)   48,158    -- 
           
Stockholders’ Equity          
Preferred Stock - $0.001 par value; 5,000,000 shares authorized;          
Series 4 Convertible Preferred Stock - 10,415 shares authorized; 1 issued and 1 outstanding as of June 30, 2022 and December 31, 2021, respectively;   --    -- 
Series 5 Convertible Preferred Stock - 12,000 shares authorized; 126 issued and 126 outstanding as of June 30, 2022 and December 31, 2021, respectively.   --    -- 
Common Stock - $0.001 par value; 2,000,000,000 shares authorized; 155,105,962 and 124,440,924 issued and 155,105,961 and 124,440,923 outstanding as of June 30, 2022 and December 31, 2021, respectively.   155    124 
Additional paid-in capital   334,436    332,639 
Treasury stock, at cost, 1 share   (695)   (695)
Accumulated other comprehensive income   598    44 
Accumulated deficit   (281,463)   (250,309)
Stockholders’ Equity Attributable to Inpixon   53,031    81,803 
           
Non-controlling interest   956    1,688 
           
Total Stockholders' Equity   53,987    83,491 
           
Total Liabilities, Mezzanine Equity and Stockholders’ Equity  $117,846   $156,673 

 

5

 

 

INPIXON AND SUBSIDIARIES

 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except per share data)

 

   For the Three Months Ended,   For the Six Months 
   June 30,   June 30, 
   2022   2021   2022   2021 
   (Unaudited)   (Unaudited) 
                 
Revenues  $4,725   $3,453   $9,956   $6,407 
Cost of Revenues   1,396    896    2,782    1,780 
                     
Gross Profit   3,329    2,557    7,174    4,627 
                     
Operating Expenses                    
Research and development   4,912    3,223    8,997    5,931 
Sales and marketing   2,324    2,073    4,600    3,712 
General and administrative   6,897    8,828    13,002    17,999 
Acquisition related costs   147    535    268    1,005 
Impairment of goodwill   7,570    --    7,570    -- 
Amortization of intangibles   1,369    1,191    2,691    1,693 
Total Operating Expenses   23,219    15,850    37,128    30,340 
                     
Loss from Operations   (19,890)   (13,293)   (29,954)   (25,713)
                     
Other Income (Expense)                    
Interest income/(expense), net   176    1,555    178    1,206 
Loss on exchange of debt for equity   --    --    --    (30)
Recovery of valuation allowance on related party loan - held for sale   --    7,462    --    7,345 
Other (expense)/income, net   (879)   125    (771)   511 
Gain on related party loan - held for sale   --    49,817    --    49,817 
Unrealized gain/(loss) on equity securities   247    (28,965)   (1,256)   (28,965)
Total Other Income (Expense)   (456)   29,994    (1,849)   29,884 
                     
Net Loss (Income), before tax   (20,346)   16,701    (31,803)   4,171 
Income tax benefit/(provision)   16    (2,195)   (84)   (2,204)
Net (Loss) Income   (20,330)   14,506    (31,887)   1,967 
                     
Net (Loss) Income Attributable to Non-controlling Interest   (458)   (253)   (804)   (235)
                     
Net Loss Attributable to Stockholders of Inpixon  $(19,872)  $14,759   $(31,083)  $2,202 
Accretion of Series 7 preferred stock   --    --    (4,555)   -- 
Accretion of Series 8 Preferred Stock   (6,237)   --    (6,785)   -- 
Deemed dividend for the modification related to Series 8 Preferred Stock   --    --    (2,627)   -- 
Deemed contribution for the modification related to Warrants issued in connection with Series 8 Preferred Stock   --    --    1,469    -- 
Amortization premium- modification related to Series 8 Prefered Stock   1,252    --    1,362    -- 
                     
Net Loss (Income) Attributable to Common Stockholders  $(24,857)  $14,759   $(42,219)  $2,202 
                     
Net Loss Per Share - Basic  $(0.16)  $0.13   $(0.29)  $0.02 
Net Loss Per Share - Diluted  $(0.16)  $0.13   $(0.29)  $0.02 
                     
Weighted Average Shares Outstanding                    
Basic   153,519,283    110,040,532    146,052,371    94,577,520 
Diluted   153,519,283    110,041,378    146,052,371    94,591,619 
                     
Comprehensive Loss                    
Net Loss  $(20,330)  $14,506   $(31,887)  $1,967 
Unrealized gain on available for sale debt securities   375    --    375    -- 
Unrealized foreign exchange loss from cumulative translation adjustments   282    52    180    (619)
Comprehensive Loss  $(19,673)  $14,558   $(31,332)  $1,348 

 

6

 

 

INPIXON AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

 

   For the Six Months Ended, 
   June 30, 
   2022   2021 
    (Unaudited) 
Cash Flows Used In Operating Activities        
Net loss  $(31,887)  $1,967 
Adjustments to reconcile net loss to net cash used in operating activities:          
Depreciation and amortization   650    625 
Amortization of intangible assets   3,026    2,007 
Amortization of right of use asset   353    370 
Stock based compensation   2,274    7,149 
Earnout expense valuation benefit   (2,827)   -- 
Loss on exchange of debt for equity   --    30 
Amortization of debt discount   --    224 
Amortization of original issued discount   (92)   -- 
Accrued interest income, related party   --    (1,627)
Unrealized gain on note   344    (490)
Recovery for valuation allowance held for sale loan   --    (7,345)
Gain on settlement of related party promissory note and loan related party receivable   --    (49,817)
Deferred income tax   (1)   (4,507)
Unrealized loss on equity securities   1,256    28,965 
Impairment of goodwill   7,570    -- 
Other   181    57 
           
Changes in operating assets and liabilities:          
Accounts receivable and other receivables   361    532 
Inventory   285    (555)
Prepaid expenses and other current assets   1,357    (319)
Other assets   25    203 
Accounts payable   (1,498)   (331)
Accrued liabilities   542    2,494 
Income tax liabilities   (40)   6,711 
Deferred revenue   (1,096)   (238)
Operating lease obligation   (327)   (364)
Other liabilities   --    96 
Net Cash Used in Operating Activities  $(19,544)  $(14,163)
           
Cash Flows Used in Investing Activities          
Purchase of property and equipment   (140)   (149)
Investment in capitalized software   (306)   (373)
Investments in short term investments   --    (2,000)
Purchase of convertible note   (5,500)   -- 
Purchases of treasury bills   --    (63,362)
Sales of treasury bills   43,001    28,000 
Purchase of Systat licensing agreement   --    (900)
Acquisition of Game Your Game   --    184 
Acquisition of CXApp   --    (15,186)
Acquisition of Visualix   --    (61)
Net Cash Provided By (Used in) Investing Activities  $37,055   $(53,847)
           
Cash From Financing Activities          
Net proceeds from issuance of preferred stock and warrants  $46,906   $-- 
Net proceeds from issuance of common stock and warrants   --    77,853 
Net proceeds from promissory note   364    -- 
Cash paid for redemption of preferred stock series 7   (49,250)   -- 
Taxes paid related to net share settlement of restricted stock units   (336)   (1,687)
Loans to related party   --    (117)
Repayment of CXApp acquisition liability   (1,847)   (137)
Repayment of acquisition liability to Nanotron shareholders   --    (467)
Repayment of acquisition liability to Locality shareholders   --    (500)
Net Cash (Used In) Provided By Financing Activities  $(4,163)  $74,945 
           
Effect of Foreign Exchange Rate on Changes on Cash   (73)   (19)
           
Net Increase in Cash and Cash Equivalents   13,275    6,916 
           
Cash and Cash Equivalents - Beginning of period   52,480    17,996 
           
Cash and Cash Equivalents - End of period  $65,755   $24,912 

 

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Reconciliation of Non-GAAP Financial Measures:

 

   For the Three Months Ended   For the Six Months Ended, 
   June 30,   June 30, 
(In thousands)  2022   2021   2022   2021 
                 
Net loss (income) attributable to common stockholders   (24,857)   14,759    (42,219)   2,202 
Adjustments:                    
Non-recurring one-time charges:                    
Loss on exchange of debt for equity   -    -    -    30 
Provision for valuation allowance on held for sale loan   -    (7,462)   -    (7,345)
Gain on related party loan held for sale   -    (49,817)   -    (49,817)
Unrealized loss on equity securities   (247)   28,965    1,256    28,965 
Acquisition transaction/financing costs   147    535    268    1,005 
Earnout compensation expense/(benefit)   -    2,059    (2,827)   2,059 
Accretion of series 7 preferred stock   -    -    4,555    - 
Accretion of series 8 preferred stock   6,237    -    6,785    - 
Deemed dividend for the modification related to Series 8 Preferred Stock   -    -    2,627    - 
Deemed contribution for the modification related to warrants issued in connection with Series 8 Preferred Stock   -    -    (1,469)   - 
Amortization premium- modification related to Series 8 Prefered Stock   (1,252)   -    (1,362)   - 
Professional service fees   -    422    8    771 
Impairment of goodwill   7,570    -    7,570    - 
Unrealized losses/(gains) on notes, loans, investments   35    (128)   124    (491)
Stock-based compensation – compensation and related benefits   741    2,053    2,274    7,149 
Severance costs   10    -    121    - 
Interest (income)/expense, net   (176)   (1,555)   (178)   (1,206)
Income tax benefit/(provision)   (16)   2,195    84    2,204 
Depreciation and amortization   1,870    1,695    3,676    2,638 
Adjusted EBITDA   (9,938)   (6,279)  $(18,707)  $(11,836)

 

   For the Three Months Ended   For the Six Months Ended, 
   June 30,   June 30, 
(In thousands, except share data)  2022   2021   2022   2021 
                 
Net loss (income) attributable to common stockholders   (24,857)   14,759   $(42,219)  $2,202 
Adjustments:                    
Non-recurring one-time charges:                    
Loss on exchange of debt for equity   -    -    -    30 
Provision for valuation allowance on held for sale loan   -    (7,462)   -    (7,345)
Gain on related party loan held for sale   -    (49,817)   -    (49,817)
Unrealized loss on equity securities   (247)   28,965    1,256    28,965 
Acquisition transaction/financing costs   147    535    268    1,005 
Earnout compensation expense/(benefit)   -    2,059    (2,827)   2,059 
Accretion of series 7 preferred stock   -    -    4,555    - 
Accretion of series 8 preferred stock   6,237    -    6,785    - 
Deemed dividend for the modification related to Series 8 Preferred Stock   -    -    2,627    - 
Deemed contribution for the modification related to warrants issued in connection with Series 8 Preferred Stock   -    -    (1,469)   - 
Amortization premium- modification related to Series 8 Prefered Stock   (1,252)   -    (1,362)   - 
Professional service fees   -    422    8    771 
Impairment of goodwill   7,570    -    7,570    - 
Unrealized losses/(gains) on notes, loans, investments   35    (128)   124    (491)
Stock-based compensation – compensation and related benefits   741    2,053    2,274    7,149 
Severance costs   10    -    121    - 
Amortization of intangibles   1,537    1,361    3,026    2,011 
Proforma non-GAAP net loss   (10,079)   (7,253)   (19,263)   (13,461)
Proforma non-GAAP net loss per basic and diluted common share  $(0.07)  $(0.07)  $(0.13)  $(0.14)
                     
Weighted average basic and diluted common shares outstanding   153,519,283    110,040,532    146,052,371    94,577,520 

 

 

8

 


inpx-20220815.xsd
Attachment: XBRL SCHEMA FILE


inpx-20220815_lab.xml
Attachment: XBRL LABEL FILE


inpx-20220815_pre.xml
Attachment: XBRL PRESENTATION FILE