Intrusion Inc. Reports Unregistered Equity Sales
Ticker: INTZ · Form: 8-K · Filed: May 16, 2024 · CIK: 736012
| Field | Detail |
|---|---|
| Company | Intrusion Inc (INTZ) |
| Form Type | 8-K |
| Filed Date | May 16, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $137,500 |
| Sentiment | neutral |
Sentiment: neutral
Topics: equity-sale, filing
TL;DR
INTRUSION INC. sold unregistered equity, check the details.
AI Summary
Intrusion Inc. filed an 8-K on May 16, 2024, reporting unregistered sales of equity securities that occurred on May 10, 2024. The filing also includes financial statements and exhibits. The company is based in Plano, Texas, and its principal executive offices are located at 101 East Park Blvd, Suite 1200.
Why It Matters
This filing indicates that Intrusion Inc. has issued equity securities without registering them with the SEC, which could have implications for existing shareholders and the company's financial structure.
Risk Assessment
Risk Level: medium — Unregistered sales of equity can sometimes signal financial distress or dilution concerns for existing shareholders.
Key Players & Entities
- INTRUSION INC. (company) — Registrant
- May 10, 2024 (date) — Date of earliest event reported
- May 16, 2024 (date) — Date of report
- Plano, Texas (location) — Principal Executive Offices Location
- 101 East Park Blvd, Suite 1200 (address) — Principal Executive Offices Address
FAQ
What type of equity securities were sold?
The filing states 'Unregistered Sales of Equity Securities' but does not specify the exact type of securities in the provided text.
Were these sales part of a private placement or exemption from registration?
The filing explicitly mentions 'Unregistered Sales of Equity Securities,' implying they were conducted under an exemption from registration, though the specific exemption is not detailed in this excerpt.
What is the significance of filing an 8-K for unregistered sales?
An 8-K is filed to report material events that shareholders should be aware of, including significant corporate actions like unregistered equity sales.
When did the unregistered sales of equity securities take place?
The earliest event reported, which includes the unregistered sales of equity securities, occurred on May 10, 2024.
Where is Intrusion Inc. headquartered?
Intrusion Inc.'s principal executive offices are located at 101 East Park Blvd, Suite 1200, Plano, Texas.
Filing Stats: 565 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-05-16 16:02:35
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share INTZ NASDAQ Capit
- $137,500 — "). The value of the Exchange Shares is $137,500. The issuance of the Exchange Shares ha
Filing Documents
- intrusion_8k.htm (8-K) — 27KB
- intrusion_ex1001.htm (EX-10.1) — 31KB
- 0001683168-24-003576.txt ( ) — 235KB
- intz-20240510.xsd (EX-101.SCH) — 3KB
- intz-20240510_lab.xml (EX-101.LAB) — 33KB
- intz-20240510_pre.xml (EX-101.PRE) — 22KB
- intrusion_8k_htm.xml (XML) — 4KB
02. Unregistered Sales of Equity Securities
Item 3.02. Unregistered Sales of Equity Securities. On May 10, 2024, Intrusion Inc. (the "Company"), and Streeterville Capital, LLC, a Utah Limited Liability Company ("Streeterville") entered into an Exchange Agreement (the "Exchange Agreement") whereby, in exchange for 125 shares of Series A Preferred of the Company (the "Preferred Shares") held by Streeterville, were exchanged for 90,460 shares of Company's common stock, par value $0.01 per share (the "Exchange Shares"). The value of the Exchange Shares is $137,500. The issuance of the Exchange Shares has been made pursuant to an exemption from registration permitted by Section 3(a)(9) of the Securities Act of 1933, as amended. The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, which is attached hereto as Exhibit 4.1 and is incorporated herein by reference. The description of the Exchange Agreement contained herein does not purport to be complete and is qualified in its entirety by reference to the full text of the Exchange Agreement, which is hereby filed as Exhibit 10.1, and is incorporated herein by reference Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Exchange Agreement dated May 10, 2024, by and between the Registrant and Streeterville Capital, LLC. 104.1 Cover Page Interactive Data File - the cover page XBRL tags are embedded with 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: May 16, 2024 By: /s/ Kimberly Pinson Kimberly Pinson Chief Financial Officer 3