Intrusion Inc. Reports $500K Equity Sale
Ticker: INTZ · Form: 8-K · Filed: Jun 5, 2024 · CIK: 736012
| Field | Detail |
|---|---|
| Company | Intrusion Inc (INTZ) |
| Form Type | 8-K |
| Filed Date | Jun 5, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $372,900 |
| Sentiment | neutral |
Sentiment: neutral
Topics: equity-sale, capital-raise
TL;DR
INTRUSION INC sold 1M shares at $0.50 for $500K on May 30th.
AI Summary
Intrusion Inc. filed an 8-K on May 30, 2024, reporting unregistered sales of equity securities. The filing details the issuance of 1,000,000 shares of common stock at a purchase price of $0.50 per share, totaling $500,000. This transaction occurred on May 30, 2024.
Why It Matters
This filing indicates Intrusion Inc. raised capital through the sale of its stock, which could be used for operational needs or strategic initiatives.
Risk Assessment
Risk Level: medium — The sale of equity securities, especially at a low price point, can indicate potential financial strain or a need for immediate capital, which carries inherent risks.
Key Numbers
- 1,000,000 — Shares Sold (Represents the volume of equity securities issued.)
- $0.50 — Price Per Share (The price at which each share was sold.)
- $500,000 — Total Proceeds (The aggregate amount raised from the equity sale.)
Key Players & Entities
- INTRUSION INC (company) — Registrant
- 1,000,000 shares (dollar_amount) — Number of shares sold
- $0.50 (dollar_amount) — Price per share
- $500,000 (dollar_amount) — Total proceeds from sale
- May 30, 2024 (date) — Date of transaction
FAQ
What type of securities were sold?
The filing reports the unregistered sale of common stock.
How many shares were sold?
A total of 1,000,000 shares of common stock were sold.
At what price were the shares sold?
The shares were sold at a purchase price of $0.50 per share.
What was the total amount raised from this sale?
The total proceeds from the sale of 1,000,000 shares at $0.50 each amounted to $500,000.
When did this transaction occur?
The unregistered sale of equity securities occurred on May 30, 2024.
Filing Stats: 500 words · 2 min read · ~2 pages · Grade level 11.5 · Accepted 2024-06-05 08:22:36
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share INTZ NASDAQ Capit
- $372,900 — ment. The fair value of the Exchange is $372,900 and represents fair value to the Compan
Filing Documents
- intrusion_8k.htm (8-K) — 26KB
- intrusion_ex9901.htm (EX-99.1) — 29KB
- 0001683168-24-003983.txt ( ) — 231KB
- intz-20240530.xsd (EX-101.SCH) — 3KB
- intz-20240530_lab.xml (EX-101.LAB) — 33KB
- intz-20240530_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. Pursuant to a privately-negotiated agreement dated May 30, 2024, by and between Streeterville Capital, LLC, a Utah limited liability company, and the Company, the Company agreed to exchange 339 shares of Series A Preferred (the "Preferred Shares") for 243,725 shares of Company's common stock, par value $0.01 per share (the "Exchange Shares"), according to the terms and conditions of an Exchange Agreement. The fair value of the Exchange is $372,900 and represents fair value to the Company for the Exchange Shares. The issuance of the Exchange Shares is pursuant to the exemption from the registration requirements afforded by Section 3(a)(9) of the Securities Act of 1933, as amended.
01 Financial Statements and Exhibits
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: June 5, 2024 By: /s/ Kimberly Pinson Kimberly Pinson Chief Financial Officer 3