INTRUSION INC. Enters Material Agreement, New Financial Obligation

TL;DR

**INTRUSION INC. just took on a new major financial obligation or agreement, watch for details.**

AI Summary

INTRUSION INC. filed an 8-K on January 4, 2024, reporting an "Entry into a Material Definitive Agreement" and the "Creation of a Direct Financial Obligation" as of January 2, 2024. This indicates the company has entered into a significant new contract or debt arrangement. For investors, this matters because such agreements can significantly impact the company's financial health, future revenue streams, or debt burden, potentially affecting stock valuation.

Why It Matters

This filing signals a new, significant financial commitment or opportunity for INTRUSION INC., which could materially alter its financial outlook and future performance.

Risk Assessment

Risk Level: medium — The filing indicates a new material agreement and financial obligation without disclosing specific terms, creating uncertainty about its positive or negative impact.

Analyst Insight

Investors should await further details on the "Material Definitive Agreement" and "Direct Financial Obligation" to assess their impact on INTRUSION INC.'s financial health and future prospects before making investment decisions.

Key Players & Entities

• INTRUSION INC. (company) — the registrant filing the 8-K
• January 2, 2024 (date) — date of the earliest event reported
• January 4, 2024 (date) — date the 8-K was filed

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value per share INTZ NASDAQ Capit
• $1,080,000 — ") in the aggregate principal amount of $1,080,000 in exchange for $1.0 million to the Com
• $1.0 million — al amount of $1,080,000 in exchange for $1.0 million to the Company. Under the Note, the Com
• $40,000 — incipal payments to Scott in the amount $40,000 per week each week prior to its maturit

Filing Documents

• intrusion_8k.htm (8-K) — 29KB
• intrusion_ex1001.htm (EX-10.1) — 233KB
• 0001683168-24-000050.txt ( ) — 484KB
• intz-20240102.xsd (EX-101.SCH) — 3KB
• intz-20240102_lab.xml (EX-101.LAB) — 33KB
• intz-20240102_pre.xml (EX-101.PRE) — 22KB
• intrusion_8k_htm.xml (XML) — 3KB

01 Entry into a Material

Item 1.01 Entry into a Material Definitive Agreement. On January 2, 2024, Intrusion Inc. (the "Company") entered into an invoice financing arrangement pursuant to a note purchase agreement with Anthony Scott, President and Chief Executive Officer of the Company ("Scott"), according to which, among other things, Scott purchased from the Company a promissory note (the "Note") in the aggregate principal amount of $1,080,000 in exchange for $1.0 million to the Company. Under the Note, the Company shall make principal payments to Scott in the amount $40,000 per week each week prior to its maturity on June 15, 2024 ("Weekly Payments"). Interest accrues on the balance of the Note prior to its maturity at a rate of 7.0% per annum, compounded daily. In connection with the issuance of the Note, the Company and Scott also entered into a security agreement, which provides, according to its terms, a security interest in all accounts receivable or other receivables now existing or subsequently created prior to the payment of the Note, subject to prior permitted liens. A copy of the note purchase agreement, the Note, and the security agreement are attached hereto as Exhibits 4.1 10.1, and 10.2, respectively, and incorporated herein by reference. The foregoing description of the terms of each such agreement is qualified in its entirety by reference to the applicable agreement's full text.

03 Creation of Direct Financial Obligation

Item 2.03 Creation of Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement by a Registrant The disclosure under Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits 4.1 Promissory Note, dated January 2, 2024 (included in Exhibit 10.1 below) 10.1 Note Purchase Agreement, dated January 2, 2024 10.2 Security Agreement, dated January 2, 2024 (included in Exhibit 10.1 above) 104 Cover Page Interactive Data File–the cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. 2 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. INTRUSION INC. Dated: January 3, 2024 By: /s/ Kimberly Pinson Kimberly Pinson Chief Financial Officer 3

View Full Filing

View this 8-K filing on SEC EDGAR