Intrusion Inc. Reports Unregistered Equity Sales
Ticker: INTZ · Form: 8-K · Filed: Nov 22, 2024 · CIK: 736012
| Field | Detail |
|---|---|
| Company | Intrusion Inc (INTZ) |
| Form Type | 8-K |
| Filed Date | Nov 22, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $74,800 |
| Sentiment | neutral |
Sentiment: neutral
Topics: unregistered-securities, equity-sale, filing
TL;DR
INTRUSION INC sold unregistered equity on 11/18. Watch for dilution.
AI Summary
Intrusion Inc. filed an 8-K on November 22, 2024, reporting unregistered sales of equity securities that occurred on November 18, 2024. The filing details financial statements and exhibits related to this event. The company, formerly known as ODS Networks Inc. and Optical Data Systems Inc., is incorporated in Delaware and headquartered in Plano, Texas.
Why It Matters
This filing indicates potential dilution for existing shareholders due to the issuance of unregistered equity, which may not have undergone the full SEC registration process.
Risk Assessment
Risk Level: medium — Unregistered sales can sometimes signal financial distress or a need for capital, potentially leading to dilution and increased risk for existing shareholders.
Key Players & Entities
- INTRUSION INC (company) — Registrant
- November 18, 2024 (date) — Date of earliest event reported
- November 22, 2024 (date) — Filing Date
- Plano, Texas (location) — Principal Executive Offices
- ODS NETWORKS INC (company) — Former Company Name
- OPTICAL DATA SYSTEMS INC (company) — Former Company Name
FAQ
What type of securities were sold in the unregistered offering?
The filing states 'Unregistered Sales of Equity Securities' but does not specify the exact type of equity in the provided text.
What was the date of the unregistered sale of equity securities?
The earliest event reported, which includes the unregistered sales of equity securities, occurred on November 18, 2024.
When was this 8-K filing submitted to the SEC?
This 8-K filing was submitted on November 22, 2024.
What are Intrusion Inc.'s principal executive offices?
Intrusion Inc.'s principal executive offices are located at 101 East Park Blvd, Suite 1200, Plano, Texas 75074.
Has Intrusion Inc. operated under any previous names?
Yes, Intrusion Inc. was formerly known as ODS NETWORKS INC and OPTICAL DATA SYSTEMS INC.
Filing Stats: 481 words · 2 min read · ~2 pages · Grade level 12.6 · Accepted 2024-11-22 07:56:45
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value per share INTZ NASDAQ Capit
- $74,800 — ment. The fair value of the Exchange is $74,800 and represents fair value to the Compan
Filing Documents
- intrusion_8k.htm (8-K) — 26KB
- intrusion_ex9901.htm (EX-99.1) — 30KB
- 0001683168-24-008349.txt ( ) — 232KB
- intz-20241118.xsd (EX-101.SCH) — 3KB
- intz-20241118_lab.xml (EX-101.LAB) — 33KB
- intz-20241118_pre.xml (EX-101.PRE) — 22KB
- intrusion_8k_htm.xml (XML) — 4KB
02
ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES. Pursuant to a privately-negotiated agreement dated November 18 2024, by and between Streeterville Capital, LLC, a Utah limited liability company, and the Company, the Company agreed to exchange 68 shares of Series A Preferred (the "Preferred Shares") for 110,340 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 $74,800 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.
FINANCIAL STATEMENTS AND EXHIBITS
FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits 99.1 Exchange Agreement, dated November 18, 2024 104 Cover Page Interactive Data File (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: November 22, 2024 By: /s/ Kimberly Pinson Kimberly Pinson Chief Financial Officer 3