Inpixon receives notice of delisting from nasdaq

Inpixon received notice from the nasdaq listing qualifications department (the "staff") of the nasdaq stock market llc ("nasdaq") that based upon the company's continued non-compliance with the minimum bid price requirement (as defined below), the company's common stock would be subject to delisting from the nasdaq capital market (the "staff delisting determination"), unless the company timely requests an appeal hearing before the nasdaq hearings panel (the "panel"). the company intends to request a hearing to appeal the staff delisting determination, which will stay the suspension and delisting action pending the issuance of a written decision by the panel. as previously disclosed by the company, on may 30, 2019, the staff notified the company that it did not evidence compliance with the minimum $1.00 bid price requirement for continued listing set forth in nasdaq listing rule 5550(a)(2) (the "minimum bid price requirement"). in accordance with the nasdaq listing rules, the company was provided with a 180 calendar day period, through november 26, 2019 (the "compliance deadline"), to regain compliance with the minimum bid price requirement. in accordance with nasdaq listing rule 5810(c)(3)(a)(ii), certain companies may be eligible for a second 180-day period to regain compliance; however, such additional compliance period is not available if it does not appear to nasdaq that it is possible for the company to cure the deficiency. the staff indicated that the company is not eligible for a second 180-day period because they do not believe that it is possible for the company to achieve and sustain compliance. while the company meets all the quantitative requirements, the staff's determination is based on the company's history of repeated non-compliance with the minimum bid price requirement and multiple share issuances resulting in substantial dilution and the erosion of shareholder value. the company has received stockholder approval to effect a reverse stock split of its issued and outstanding shares of common stock to satisfy the minimum bid price requirement and intends to submit an updated plan of compliance prior to the hearing before the panel; however, there can be no assurance that the panel will grant the company's request for continued listing.
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