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18	18	Inpixon has two operating subsidiaries: (i) Inpixon Canada, Inc. (100% ownership) based in Coquitlam, British Columbia (“Inpixon Canada”); and (ii) Inpixon India Limited (82.5% ownership) based in Hyderabad, India.
19	19
20	20
21		-== Product and Technology ==
	21	+= Product and Technology =
22	22
23	23
24		-Indoor Intelligence Platform
	24	+== Indoor Intelligence Platform ==
25	25
26	26
27		-Indoor Mapping
	27	+**Indoor Mapping**
28	28
29	29	Create smart indoor experiences with industry-leading maps. Incorporate geospatially accurate maps into your applications and create tailored experiences for different types of users. Dynamic, layer-based maps allow you to power a multitude of location-based use cases and integrate your indoor and third-party data for enhanced data visualization and business rule automation.
30	30
31	31
32		-Indoor Positioning
	32	+**Indoor Positioning**
33	33
34	34	Make indoor spaces discoverable using Inpixon’s award-winning sensor technology or by leveraging your existing infrastructure. Leverage indoor positioning to create smart indoor spaces with location awareness and accurately pinpoint the location of people or assets inside a building using smartphones, mobile devices, tracking tags or other devices.
35	35
36	36
37		-Indoor Security
	37	+**Indoor Security**
38	38
39	39	Security that sees the unseen within your facilities. Cultivate situational awareness to detect rogue devices and wireless access points in your buildings with Inpixon’s wireless device detection technology. Integrate with leading Mobile Device Management (MDM) systems to enforce no-phone zones, keeping your data, organization, and employees safe while reducing risk.
40	40
41	41
42		-Indoor Analytics
	42	+**Indoor Analytics**
43	43
44	44	Reveal the untold stories of your indoor spaces. Leverage advanced indoor analytics to gain invaluable insights into how visitors and employees interact with your buildings. Uncover trends and optimize your operations, find efficiencies, and drive additional revenue. Inpixon’s robust predictive analytics empower you to forecast more accurately and maximize space utilization.
45	45
46	46
47		-Sensors For Detection and Positioning
	47	+== Sensors For Detection and Positioning ==
48	48
49	49	Start harnessing your indoor data with Inpixon’s best-in-class IoT sensors that detect and position wireless devices to power your location-based solutions. From wireless device detection and positioning to visitor analytics, asset tracking, and more, its versatile family of sensors and modular approach gives you flexibility to choose the sensor that best fits and scales to your unique indoor location needs.
50	50
51	51
52		-Inpixon Pod
	52	+**Inpixon Pod**
53	53
54	54	The Inpixon Pod is a specialized Wi-Fi sensor that can expand coverage areas, increase the number of devices detected, and improve positional accuracy compared to using solely your existing Wi-Fi.
55	55
56	56
57		-Inpixon Sensor 4000
	57	+**Inpixon Sensor 4000**
58	58
59	59	The multi-channel Inpxion Sensor 4000 locates Wi-Fi, Bluetooth and cellular signals to develop a complete and accurate picture of your building’s occupants and devices.
60	60
61	61
62		-Inpixon Sensor Ultra
	62	+**Inpixon Sensor Ultra**
63	63
64	64	The Inpixon Sensor Ultra identifies and locates Wi-Fi and Bluetooth/BLE in addition to UWB tags and devices with centimeters-level positional accuracy.
65	65
66	66
67		-Hardware Solutions
	67	+**Hardware Solutions**
68	68
69	69	The company's collection of proprietary and third-party tags, sensors, and specialty hardware give you flexible, best-in class hardware options to power your location-aware use cases.
70	70
71	71
72		-Tags
	72	+**Tags**
73	73
74	74	The company's tags leverage different technologies, such as Wi-Fi, BLE, GPS, or UWB and come in different form factors, like watches and badges, so you can choose the tag best suited for your location-aware application.
75	75
76	76	.
77	77
	78	+== Third-Party Sensors ==
78	78
79		-
80		-
81		-Third-Party Sensors
82		-
83	83	These third-party sensors seamlessly integrate into Inpixon’s location-aware solutions.
84	84
	82	+* Bluetooth Long-Range Sensor
	83	+* Footfall Counter XVS
85	85
86		-.
87	87
88		-Bluetooth Long-Range Sensor
	86	+= Business Overview =
89	89
90		-Footfall Counter XVS
	88	+Effective August 31, 2018, the Company completed a spin-off of its then wholly owned subsidiary Sysorex, Inc. and the associated infrastructure business and it is no longer a part of its reporting in the current year. For prior years’ the consolidated financial data, revenue and expense of Sysorex’s infrastructure business are shown as discontinued operations. The company's Indoor Intelligence products secure, digitize and optimize the interior of any premises with indoor positioning and data analytics that provide rich positional information, similar to a global positioning system, and browserlike intelligence for the indoors.{{footnote}}https://ir.inpixon.com/sec-filings/all-sec-filings/content/0001213900-20-005326/0001213900-20-005326.pdf{{/footnote}}
91	91
92		-
93		-Business Overview
94		-
95		-Effective August 31, 2018, the Company completed a spin-off of its then wholly owned subsidiary Sysorex, Inc. and the associated infrastructure business and it is no longer a part of its reporting in the current year. For prior years’ the consolidated financial data, revenue and expense of Sysorex’s infrastructure business are shown as discontinued operations. The company's Indoor Intelligence products secure, digitize and optimize the interior of any premises with indoor positioning and data analytics that provide rich positional information, similar to a global positioning system, and browserlike intelligence for the indoors.{{footnote}}https://fintel.io/doc/sec-trxc-transenterix-10k-2018-march-08-17952{{/footnote}}
96		-
97		-[[https:~~/~~/ir.inpixon.com/sec-filings/all-sec-filings/content/0001213900-20-005326/0001213900-20-005326.pdf>>url:https://ir.inpixon.com/sec-filings/all-sec-filings/content/0001213900-20-005326/0001213900-20-005326.pdf]]
98		-
99	99	Revenues increased in the year ended December 31, 2019 over the same period in 2018 by approximately 68% because of an increase in its Indoor Intelligence revenues resulting from an increased focus on the Indoor Intelligence product line following the spin-off, the completion of certain acquisitions in 2019 and the addition of a new customer that accounted for approximately 42% of its revenues for the year ended December 31, 2019. The company expect to continue to grow its Indoor Intelligence product line in 2020. The Indoor Intelligence product line does have long sales cycles, which result from customer-related issues such as budget and procurement processes but also because of the early stages of indoor-positioning technology and the learning curve required for customers to implement such solutions. Customers also often engage in a pilot program first which prolongs sales cycles and is typical of most emerging technology adoption curves. The company anticipate sales cycles to improve in 2020 as its customer base moves from early adopters to mainstream customers. The sales cycle is also improving with the increased presence and awareness of beacon and Wi-Fi locationing technologies in the market. Indoor Intelligence sales can be licensed-based with government customers but commercial customers typically prefer a SaaS or subscription model. The company's other digital solutions are also delivered on a SaaS model and allow it to generate industry analytics that complement its indoor-positioning solutions
100	100
101	101	The company experienced a net loss of approximately $34.0 million and $24.6 million for the years ended December 31, 2019 and 2018, respectively. The company cannot assure that the company will ever earn revenues sufficient to support its operations, or that the company will ever be profitable. In order to continue its operations, Inpixon has supplemented the revenues the company earned with proceeds from the sale of its equity and debt securities and proceeds from loans and bank credit lines. Furthermore, except for its Payplant facility, Inpixon has no committed source of financing and the company cannot assure that the company will be able to raise money as and when the company need it to continue its operations. If the company cannot raise funds as and when the company need them, the company may be required to scale back its business operations by reducing expenditures for employees, consultants, business development and marketing efforts, selling assets or one or more products in its business, or otherwise severely curtailing its operations.
102	102
103		-Reverse Stock Split
104	104
	95	+== Reverse Stock Split ==
	96	+
105	105	On January 7, 2020, the company effected a 1-for-45 reverse split of its outstanding common stock.
106	106
107		-January 2019 Capital Raise
108	108
	100	+== January 2019 Capital Raise ==
	101	+
109	109	On January 15, 2019, in a rights offering, the company issued and sold an aggregate of 12,000 units consisting of an aggregate of 12,000 shares of Series 5 Convertible Preferred Stock and 80,000 warrants to purchase common stock exercisable for one share of common stock at an exercise price of $149.85 per share in accordance with the terms and conditions of a warrant agency agreement, resulting in gross proceeds to the Company of approximately $12 million, and net proceeds of approximately $10.77 million after deducting expenses relating to dealer-manager fees and expenses, and excluding any proceeds received upon exercise of any warrants.
110	110
111	111	Following the rights offering, the conversion price of the Series 4 Convertible Preferred Stock was reduced to the floor price of $223.20, the exercise price of the warrants issued in the April 2018 public offering were also reduced to the floor price of $223.20 and the number of shares issuable upon exercise of such warrants was increased to 61,562 shares of common stock. The maximum deemed dividend under the Series 4 Convertible Preferred Stock has been recognized so there is no accounting effect from the conversion price reduction of the Series 4 Convertible Preferred Stock. However, the Company recorded a $1.3 million deemed dividend for the reduction to the exercise price of the April 2018 warrants. As of December 31, 2019, there were 126 shares of Series 5 Convertible Preferred Stock outstanding.
112	112
113		-GTX Acquisition
114	114
	107	+== GTX Acquisition ==
	108	+
115	115	On June 27, 2019, Inpixon completed its acquisition of certain assets of GTX, consisting of a portfolio of GPS technologies and intellectual property (the “Assets”). The Assets were acquired for aggregate consideration consisting of (i) $250,000 in cash delivered at the closing and (ii) 22,223 shares of Inpixon’s restricted common stock. The total recorded purchase price for the transaction was $900,000, which consisted of the cash paid of $250,000 and $650,000 representing the value of the stock issued upon closing.
116	116
117		-Jibestream Acquisition
118	118
	112	+== Jibestream Acquisition ==
	113	+
119	119	On August 15, 2019, Inpixon, through its wholly owned subsidiary, Inpixon Canada as purchaser (the “Purchaser”), completed its acquisition of Jibestream for consideration consisting of: (i) CAD $5,000,000, plus an amount equal to all cash and cash equivalents held by Jibestream at the closing, minus, if a negative number, the absolute value of the Estimated Working Capital Adjustment (as defined in the acquisition agreement), minus any amounts loaned by the Purchaser to Jibestream to settle any Indebtedness (as defined in the Purchase Agreement) or other fees, minus any cash payments to the holders of outstanding options to settle any in-the-money options, minus the deferred revenue costs of CAD $150,000, and minus the costs associated with the audit and review of the financial statements of Jibestream required by the Purchase Agreement (collectively, the “Estimated Cash Closing Amount”); plus (ii) 176,289 shares of the Company’s common stock which was equal to CAD $3,000,000 converted to U.S. dollars based on the exchange rate at the time of the closing, divided by $12.4875 which was the price per share at which shares of the Company’s common stock were issued in the Company’s public offering on August 12, 2019 (“Inpixon Shares”).
120	120
121	121
122		-Financial Highlights
	117	+= Financial Highlights =
123	123
124		-
125	125	Revenues for the year ended December 31, 2019 were $6.3 million compared to $3.8 million for the comparable period in the prior year for an increase of $2.5 million, or approximately 68%. Revenues increased from the comparable period due to an increase in its IPA product and services revenues and by approximately $750,000 of mapping product revenue.
126	126
127	127	Cost of revenues for the year ended December 31, 2019 were $1.6 million compared to $1.1 million for the comparable period in the prior year. This increase of $533,000, or approximately 50%, was primarily attributable the increase in IPA revenue and revenues from the Jibestream acquisition during the year ended December 31, 2019.
...	...	@@ -139,12 +139,10 @@
139	139	Net loss attributable to stockholders for the year ended December 31, 2019 was $34.0 million compared to $24.6 million for the comparable period in the prior year. This increase in loss of $9.4 million was primarily attributable to the $10.6 million fair value adjustment related to the uncertainty of being repaid in connection with that certain note receivable from Sysorex, which has been classified as “held for sale” and for which the Company has established a full valuation allowance, higher operating and interest expense offset by higher margin IPA revenue during the year ended December 31, 2019.
140	140
141	141
142		-Recent developments
	136	+= Recent developments =
143	143
144		-Inpixon Enters Contract for Nearly One Million Square Feet of Mapping at Headquarters of One of the World's Largest Public Companies
	138	+**Inpixon Enters Contract for Nearly One Million Square Feet of Mapping at Headquarters of One of the World's Largest Public Companies** {{footnote}}https://ir.inpixon.com/news-events/press-releases/detail/177/inpixon-enters-contract-for-nearly-one-million-square-feet{{/footnote}}
145	145
146		-[[https:~~/~~/ir.inpixon.com/news-events/press-releases/detail/177/inpixon-enters-contract-for-nearly-one-million-square-feet>>url:https://ir.inpixon.com/news-events/press-releases/detail/177/inpixon-enters-contract-for-nearly-one-million-square-feet]]
147		-
148	148	DECEMBER 18, 2020 Inpixon today announced that Inpixon Mapping has been selected as part of a workplace experience solution for a leading medical technology provider, one of the world's largest public companies, to provide intelligent, multi-dimensional digital maps. Inpixon Mapping is currently contracted for deployment throughout the organization's headquarters campus comprised of dozens of buildings covering nearly one million square feet.
149	149
150	150	Inpixon Mapping will be used to visualize locations throughout the organization's headquarters in a multi-layered digital map and operate in conjunction with additional technologies to support a comprehensive workplace experience application. The solution will offer wayfinding and room-booking capabilities as well as allow management to provide additional workforce productivity features. The application is intended to improve productivity by saving time moving within and between campus buildings with intelligent mobile phone-based Inpixon wayfinding and navigation. The terms of the agreement include both one-time professional services revenue, as well as recurring revenue associated with the mapping platform license.
...	...	@@ -153,9 +153,8 @@
153	153
154	154	"Scalable, location-aware applications with indoor maps and related capabilities can be an essential part of a productive workplace experience. Indoor Intelligence provides valuable information for management and can be used in conjunction with its Workplace Readiness solutions to aid in creating a safer environment. The company look forward to deploying its indoor mapping technology across this organization's headquarters campus with the goal to expand into additional locations."
155	155
156		-Inpixon Releases Enhanced Inpixon Aware Security Solution
157	157
158		-[[https:~~/~~/ir.inpixon.com/news-events/press-releases/detail/178/inpixon-releases-enhanced-inpixon-aware-security-solution>>url:https://ir.inpixon.com/news-events/press-releases/detail/178/inpixon-releases-enhanced-inpixon-aware-security-solution]]
	149	+**Inpixon Releases Enhanced Inpixon Aware Security Solution **{{footnote}}https://ir.inpixon.com/news-events/press-releases/detail/178/inpixon-releases-enhanced-inpixon-aware-security-solution{{/footnote}}
159	159
160	160	JANUARY 05, 2021; Inpixon, today announced its latest release of Inpixon Aware, the company's indoor security solution. The award-winning Inpixon Aware provides organizations with a highly-scalable situational awareness and wireless detection solution within a single, near real-time dashboard enabling management to make key decisions around security, risk mitigation and safety. The latest version, Inpixon Aware 5.17, includes improved ultra-wideband (UWB) wireless device detection and positioning, advanced mitigation of RF noise, IPv6 support for the latest generation of Inpixon sensors, and additional enhancements.
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