What changed in this filing

/stocks — the workspaceLOADING

Item 1. Business

2022-03-16 compared with 2021-03-31 · 155 added, 239 removed, 71 unchanged (85% of the section changed)

Inpixon is the Indoor Intelligence™ company.

Our business and government customers use our solutions to secure, digitize and optimize their indoor spaces with our positioning, mapping, and analytics products.

Inpixon’s Indoor Intelligence platform uses sensor technology to detect active cellular, Wi-Fi, Bluetooth, ultra-wide band (“UWB”) and Chirp Spread Spectrum (“chirp”) signals emitted from devices within a venue providing positional information similar to what global positioning system (“GPS”) satellite systems provide for the outdoors.

Combining this positional data with our dynamic and interactive mapping solution and a high-performance analytics engine, we are able to offer our customers near real-time insights for increased visibility, security and business intelligence throughout their indoor spaces.

Our highly configurable platform can also ingest data from our customers’ and other third-party sensors, Wi-Fi access points, Bluetooth beacons, video cameras, and big data sources, among others, to maximize indoor intelligence.

Our Indoor Intelligence offerings consist of a variety of software and hardware products for positioning, mapping, and analytics offerings.

• Our solutions provide positioning and wireless device detection that cultivates situational awareness by leveraging sensors with proprietary technology that can detect and position active cellular, Wi-Fi, Bluetooth, UWB and chirp signals throughout a venue, as well as GPS technologies.

These products allows for the positioning of people and assets homogeneously as they travel between the indoor and outdoor.

Utilizing various radio signal technologies permits device positioning with accuracy ranging from several meters down to approximately thirty centimeters, depending on the product deployed and conditions in the indoor space.

The technology allows for detailed understanding of space and resource utilization, and in security applications, detection and identification of authorized and unauthorized devices, prevention of rogue devices through alert notification based on rules when unknown devices are detected in restricted areas and asset tracking with centimeter level precision.

• We also provide on-device positioning using internal sensors in smart phones and other IoT wearable devices.

Our solutions and technologies help organizations create and redefine exceptional experiences that enable smarter, safer and more secure environments.

We leverage our positioning, mapping, augmented reality, analytics and app technologies to achieve higher levels of productivity and performance, increase safety and security, improve worker and employee satisfaction rates and drive a more connected workplace.

We have focused our corporate strategy on being the primary provider of the full range of foundational technologies needed in order to offer a comprehensive suite of solutions that make indoor data available and meaningful to organizations, employees and visitors.

Together, our technologies are foundational for allowing organizations to create and launch the digital twin of a physical location necessary for driving enhanced experiences in the metaverse.

Our Indoor Intelligence solutions are used by our customers for a variety of use cases including, but not limited to, employee and visitor experience enhancement through a customer branded app with features such as desk booking, wayfinding and navigation, and the delivery of content to tens of thousands of attendees in hybrid events.

Our real time location (RTLS) and asset tracking products offer manufacturing and warehouse logistics optimization and automation, increase workforce productivity, and enhance worker safety and security.

In addition to our Indoor Intelligence technologies and solutions, we also offer:

• Digital solutions (eTearsheets;

eInvoice, adDelivery) or cloudbased applications and analytics for the advertising, media and publishing industries advertising management platform referred to as Shoom by Inpixon;

• A comprehensive set of data analytics and statistical visualization solutions for engineers and scientists referred to as SAVES by Inpixon.

We report financial results for three segments:

Indoor Intelligence, Shoom and SAVES.

For Indoor Intelligence, we generate revenue from sales of hardware, software licenses and professional services.

For Shoom and SAVES we generate revenue from the sale of software licenses.

Products and Services

Indoor Intelligence

Our Indoor Intelligence offerings consists of the following software and hardware products.

Experience Apps and Services

• Smart Office App – Our smart office app seeks to enhance the employee experience by providing organizations with a holistic location aware customer branded employee app for a smart, innovative and connected workplace.

This solution aims to help organizations provide a frictionless work environment with features such as hot desking and room booking, indoor navigation with turn by turn directions on a digital map, company-wide news feeds to more easily distribute relevant content to employees and other personnel, an in-app company directory and the ability to access workplace amenities and other bookable opportunities and experiences.

With over 75 product integrations (Slack, Zoom, Office365, G-suite, ServiceNow, etc.) our Smart Office App serves as the gateway to your corporate communications and productivity portfolio.

• Executive Briefing Centers (EBC) – Our EBC omni-channel software platform provides a virtual briefing platform allowing organizations to offer a personalized experience for in-office, remote and hybrid meetings.

This SaaS platform allows for meeting programs to be managed in one environment from meeting to meeting or location to location with agendas that support single or multi day events with a detailed day-by-day guide and customizable agenda capabilities.

• Events – Our hybrid events platform offers a mobile first and virtual event platform to connect tens of thousands of remote and in person audiences in a fully branded, end to end event experience.

The software-as-a-service (SaaS) platform allows for hosting and storage of events, perpetual engagement before during and after the event, personalized agendas, real time activity feeds, notifications and more.

• Inpixon Mapping , is our indoor mapping solution which provides users with the tools to add intelligence to complex indoor spaces by integrating business data with geospatially accurate indoor maps to create relevant views of indoor environments.

The digital twin of a physical space facilitates use cases for facility management, security safety, customer or worker experiences, asset tracking and more.

Inpixon Mapping offers developers the flexibility and control to create tailored map-enabled solutions that address multiple use cases with a single set of maps.

Deployed through native software development kits (SDKs) (Web, iOS, Android), maps are broken down into layers and objects that can be associated with third party data sources and used to provide a high-fidelity and fluid user experience.

Our mapping platform is flexible and has both customers with their own mobile apps that use our SDK as well as native deployment in our own smart office app.

• Augmented Reality (AR) and 3D – Inpixon's augmented reality SDKs allow businesses to easily scan a space and subsequently attach AR content persistently to any position in the world.

The technology can also be used for visual asset tracking without beacons or markers as well as digital twin creation and manipulation.

Creating the 3D representation of your venue can be as easy as using your phone camera.

Using SLAM combined with our patented and patent-pending technologies offers tools to help enterprise and industry enable metaverse capabilities for their business.

• Analytics and Insights – our robust cloud-based analytics platform allows data from multiple sensors and data sources to be visualized for action by the operator.

Our platforms can engage with data from our IoT sensors, our mobile apps, 3rd party sensors and data that is ingested via an application programming interface (API) or comma-separated value (CSV).

In retail, both shopping malls and large stores, we can capture radio frequency (RF) data to visually display shopper loyalty and behavior including measuring in-store events or experiential activations.

Our enterprise clients use analytics to monitor employee engagement with the mobile app and events platform while in the factory we analyze movement patterns in the warehouse and interact with enterprise resource planing (ERP) systems to optimize workflow.

• On-Device Positioning - we provide on-device positioning using internal sensors in smart phones and other IoT wearable devices.

The location data is ingested by the positioning system generating accurate coordinates which are displayed on an indoor map.

Our on-device indoor positioning solution enables a smartphone’s precise location to be displayed to a user in a mobile app.

Data is combined from various sensors, including accelerometers, gyroscopes, compass, GPS and BLE radio scanning, to position the blue dot and to correct for drift.

Data is combined from various sensors, including accelerometers, gyroscopes, compass, global positioning system (GPS) and bluetooth (BLE) radio scanning, to position the blue dot and to correct for drift.

Enabling powerful location-based use cases, our patented on-device technology runs on a smartphone, smartwatch or other IoT wearable device and can operate without the internet.

• Our RTLS (real time location systems) or asset tracking is based on our UWB or chirp anchors and tags.

Industrial Internet of Things (IoT) and RTLS

• IoT SaaS Platform - Our full stack offering in the Industrial IoT space includes an enterprise class, multi-technology RTLS IoT platform for industrial automation.

Inpixon’s RTLS IoT platform is a comprehensive real-time IoT solution for the implementation of industrial RTLS (Track & Trace) applications for indoor and outdoor areas, such as vehicle localization, production tracking, yard management, gate allocation, forklift location (MHE), real-time route optimization or the automatic identification and booking of goods and material flows (AutoID).

In addition to real-time data applications for the digital twin, it also provides smart real-time location analyses from one platform suite, enabling companies to identify significant process optimizations and make data-based decisions.

The solutions offered by the platform include (1) SMART Warehouse (2) AutoID & Booking (3) SMART Forklift (4) Fleet Manager (5) Safety Manager (6) SMART Production (7) Material flow control (8) Equipment Manager (9) Yard Manager and (10) Shipment Manager.

• IoT Devices, Sensors and Tags - Our RTLS or asset tracking hardware includes a full end-to-end portfolio of IoT sensors (also known as nodes or anchors) and end user or asset tags.

This portfolio leverages our own products for GPS, ultra-wideband (UWB) and chirp spread spectrum (CSS) while incorporating support for third party integrated Wi-Fi and BLE solutions.

In the security space, a version of our sensor allows detection of cellular, Wi-Fi and BLE signals that is combined with UWB to offer security and high value asset tracking solutions.

Chirp technology is effective for longer range communication while UWB is an important RF standard for pinpoint asset tracking.

Organizations across many different industries can leverage the accuracy, quickness, and reliability of UWB technology to track the real-time location and status of key assets and equipment, with greater precision.

Users can display and track the location and movement of static and moving assets and asset attribute information within a space on high-fidelity, layer-based indoor maps and navigate to assets that are both fixed and in motion.

• Our indoor mapping platform provides enterprise organizations with the tools to add intelligence to complex indoor spaces by integrating business data with indoor maps.

Our mapping platform gives developers the flexibility and control to create tailored map-enabled solutions that address multiple use cases with a single platform.

Comprised of software development tools and a web-based content management system (CMS), our mapping platform is highly configurable and able to address the varying security, extensibility and versatility needs of our customers.

• Data science analytics, on-premises or in the cloud, along with specially optimized algorithms that are intended to increase the accuracy of location data and maximize system performance.

This enables the system to deliver data reporting and visualizations to the user based on our mapping platform.

We also provide data output that can be

integrated with common third-party visualization, charting, graphing and dashboard systems.

Our analytics capabilities allow for the integration of a customer’s existing video surveillance feed with location data collected via radio frequency, enabling customers to ascertain radio frequency coverage and access evidentiary information that can be used for security and customer relations programs.

We can assist a variety of private and public organizations, including corporate enterprises, government agencies, hotels and resorts, gaming operators, airports, healthcare facilities, manufacturing, construction, mining, agriculture and livestock companies, to create smarter, safer and more secure environments.

Corporate Strategy

Management continues to pursue a corporate strategy that is focused on building and developing our business as a provider of end-to-end solutions ranging from the collection of data to delivering insights from that data to our customers with a focus on securing, digitizing and optimizing premises with our indoor positioning, mapping and analytics solutions for businesses and governments.

In connection with such strategy and to facilitate our long-term growth, we continue to evaluate various strategic transactions, including acquisitions of companies with technologies and intellectual property (“IP”) that complement those goals by adding technology, differentiation, customers and/or revenue.

We are primarily looking for accretive acquisitions that have business value and operational synergies, but will be opportunistic for other strategic and/or attractive transactions.

We believe these complementary technologies will add value to the Company and allow us to provide a comprehensive indoor intelligence platform, offering a one-stop shop to our customers.

In addition, we may seek to expand our capabilities around security, artificial intelligence, augmented reality and virtual reality or other high growth sectors.

Candidates with proven technologies that complement our overall strategy may come from anywhere in the world, as long as there are strategic and financial reasons to make the acquisition.

We are also exploring opportunities that will supplement our revenue growth.

We are primarily looking for accretive acquisitions that have business value and operational synergies, yet also opportunistic for other strategic and/or attractive transactions that we believe may increase overall shareholder value, which may include, but not be limited to, other alternative investment opportunities, such as minority investments, joint ventures or special purpose acquisition companies.

If we make any acquisitions in the future, we expect that we may pay for such acquisitions using our equity securities and/or cash and debt financings in combinations appropriate for each acquisition.

In furtherance of this strategy, on May 21, 2019, we acquired Locality Systems, Inc.

(“Locality”), a technology company based near Vancouver, Canada, specializing in wireless device positioning and radio frequency (“RF”) augmentation of video surveillance systems.

In addition, on June 27, 2019, we acquired certain GPS products, software, technologies, and intellectual property from GTX Corp (“GTX”), a U.S.

based company specializing in GPS technologies.

These transactions expand our patent portfolio and include certain granted or licensed patents and GPS and RF technologies.

Furthermore, on August 15, 2019, we acquired Jibestream Inc.

(“Jibestream”), a provider of a highly configurable intelligent indoor mapping platform to expand our suite of products.

During the year ended December 31, 2020, the Company entered into several other additional transactions.

On June 19, 2020, we entered into an exclusive license with Cranes Software International Ltd.

and Systat Software, Inc.

(together the “Systat Parties”) to use, market, distribute, and develop the SYSTAT and SigmaPlot software suite of products.

On August 19, 2020, we acquired a suite of on-device “blue dot” indoor location and motion technologies, including patents, trademarks, software and related intellectual property (IP), from Ten Degrees, Inc., Ten Degrees International and certain other affiliated parties.

On October 6, 2020 we acquired Nanotron Technologies GmbH, a leading provider of wireless electronic location awareness solutions.

In addition, on March 25, 2021, we also entered into an agreement to acquire a controlling interest in Game Your Game, Inc., an app-based sports performance analytics firm using IoT sensors, maps and location technologies.

Industry Overview

We believe that organizations are increasingly realizing the value of indoor intelligence and how it can be leveraged to understand what is happening indoors for a variety of use cases depending on the industry, including but not limited to, security;

building management efficiency;

customer experience;

asset tracking;

loss prevention and many other applications.

Indoor intelligence solutions cross over several market segments, each of which industry researchers have forecasted for significant growth.

The following information illustrates the ways in which demand for indoor intelligence and/or indoor positioning systems is expected to grow.

• The global market for Indoor Positioning and Indoor Navigation (IPIN) estimated at US$2.8 Billion in the year 2020, is projected to reach a revised size of US$56.6 Billion by 2027, growing at a CAGR of 53.3% over the analysis period 2020-2027.

ResearchandMarkets;

“Indoor Positioning and Indoor Navigation (IPIN) - Global Market Trajectory & Analytics;” report ID:

5030011, July 2020, https://www.researchandmarkets.com/reports/5030011/indoor-positioning-and-indoor-navigation-ipin).

• The global indoor location market size to grow from USD 6.1 billion in 2020 to USD 17.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 22.5% during the forecast period.

MarketsandMarkets, “Indoor Location Market by Component (Hardware, Solutions, and Services), Deployment Mode, Organization Size, Technology, Application, Vertical (Retail, Transportation and Logistics, Entertainment), and Region - Global Forecast to 2025;” report code:

TC 2878, published 5/6/2020, http://www.marketsandmarkets.com/PressReleases/indoor-location.asp).

• The global location based services (LBS) and real-time location systems (RTLS) market will grow from USD $17.8 billion in 2020 to USD $39.2 billion by 2025, at a CAGR of 17.1%.

MarketsandMarkets, “Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market by Component (Platform, Services and Hardware), Location Type (Indoor and Outdoor), Application, Vertical, Region - Global Forecast to 2025;” report code:

TC 2371, published:

June 2020, https://www.marketsandmarkets.com/Market-Reports/location-based-service-market-%2096994431.html).

• The real-time location system market (RTLS) market is expected to grow from USD 3.4 billion in 2020 to USD 10.3 billion by 2025;

it is expected to grow at a CAGR of 24.8% during the forecast period.

MarketsandMarkets, “Real-Time Location Systems Market (RTLS) with COVID-19 Impact Analysis by Offering (Hardware, Software, Services), Technology, Vertical (Healthcare, Manufacturing, Retail, Education, Govt., Sports), Application/Use case, Geography- Global Forecast to 2025;” report code:

SE 3323, published Sept.

2020, https://www.marketsandmarkets.com/Market-Reports/real-time-location-systems-market-1322.html).

• The Wi-Fi analytics market size is expected to grow from $5.3 billion in 2019 to $16.8 billion by 2024, at a CAGR of 26.0% during the forecast period.

MarketsandMarkets, “Wi-Fi Analytics Market by Component, Application (Wi-Fi Presence Analytics and Wi-Fi Marketing Analytics), End Use (Smart Infrastructure, Retail, Sports and Entertainment, and Hospitality), Deployment Model, and Region - Global Forecast to 2024;” report code:

TC 5788, published:

June 2019, https://www.marketsandmarkets.com/PressReleases/wi-fi-analytics.asp).

• In 2021, the smart buildings software market will be worth $6.4 billion.

The software market encompasses property management, IWMS, CAFM, CMMS as well as energy management, real estate investment and space utilization solutions.

The overall smart buildings market has a growth trajectory of 7% CAGR to reach $8.5 billion in 2025.

Verdantix, "Smart Buildings Software:

Market Size And Forecast 2020-2025 (Global);" published Jan.

2021, https://research.verdantix.com/report/smart-buildings-software-market-size-and-forecast-2020-2025-global).

We believe the desire for indoor intelligence and the adoption of indoor positioning technologies will continue to evolve and increase across a multitude of use cases.

Indoor intelligence solutions can already be utilized in a wide variety of use cases, including:

• Wayfinding/navigation

• RTLS/Asset tracking

• Workforce productivity

• Visitor analytics

• Manufacturing optimization

• Security (find rogue devices, enforce no-phone zones, match with video management systems)

• Customer experience enhancement

• Space utilization

• Facility management and maintenance

• Building energy efficiency

• Collision avoidance

• Worker safety

• Student safety (track students w/ two-way messaging using Bluetooth wristbands)

• First responder (to understand the situation and locate those needing help)

• Retail loss prevention

• Evacuation and muster

• Marketing ROI measurement

• Proximity messaging

• Location sharing

• Intelligent parking

• Indoor-outdoor transition

Based on our experience with customers and others that have expressed an interest in our technology and the businesses of our primary competitors, we believe the industries with the highest adoption rates thus far include the federal government, commercial real estate, corporate enterprises, mining, livestock, hospitality, healthcare, transportation, financial institutions and manufacturing, and that eventually there will be opportunities for nearly every industry segment to benefit from indoor intelligence solutions.

Corporate Structure

We have four operating subsidiaries:

(i) Inpixon Canada, Inc.

(100% ownership) based in Coquitlam, British Columbia (“Inpixon Canada”);

(ii) Inpixon Limited (100% ownership) based in Slough, United Kingdom;

(iii) Inpixon GmbH (100% ownership) based in Ratingen, Germany;

and (iv) Inpixon India Limited (82.5% ownership) based in Hyderabad, India.

In addition, Nanotron Technologies GmbH, based in Berlin, Germany is an indirect subsidiary of the Company and the wholly owned subsidiary of Inpixon GmbH.

Our Products and Services

We provide the following products and services to deliver actionable insights for people places and things.

Our on-device indoor positioning solution, Inpixon On-Device Positioning, enables a smartphone’s precise location to be displayed to a user in a mobile app.

Data is combined from various sensors, including accelerometers, gyroscopes, compass, GPS and BLE radio scanning, to position the blue dot and to correct for drift.

The addition of the blue dot allows users to have context of their current location in relation to other locations or points of interests enhancing the navigation experience for the user.

Our on-device technology runs entirely on a smartphone, smartwatch or other IoT wearable device and can operate without the internet.

Our RTLS location engine, nanoLES, delivers precise positioning and monitoring to create reliable and efficient chirp and UWB location solutions.

With time difference of arrival (TDoA) locations and real-time sensor data, we enable sensor fusion between our IoT Platform and custom applications.

From data ingestion to tag functionality, we provide an end-to-end

RTLS solution with two-way tag communication.

Our RTLS hardware modules can also perform tag-to-tag ranging to determine the distance between two tags -- independent of anchors and the nanoLES location engine -- for applications such as proximity detection and collision avoidance.

We design, manufacture, sell and/or resell the following sensor, tag, anchor, chip/transmitter and transponder technologies and related positioning products, including :

• Inpixon Aware , our indoor security solution combines wide-spectrum RF detection, indoor positioning and analytics to create situational awareness, mobile security, and detection that locates devices operating within a monitored area.

For use with the Inpixon Sensor 4000, our solution enables users to identify and visualize the location and movement of devices, and can be used to determine their compliance with network security policies for a designated zone.

• Inpixon MDM Connector software that enables two-way communication between our Inpixon Aware security software and a third-party mobile device management system (MDM), such as IBM MaaS360, VMware AirWatch, and MobileIron.

This makes it possible for the MDM to execute device restrictions based on device location (e.g., to disable a phone’s camera, audio recorder and transmission functions while in a high security, no-cell-phones zone).

If a managed or identified device is not compliant, policy modification of device apps and/or features can be triggered with many of the leading Enterprise Mobile Management (EMM or MDM).

• Inpixon Sensor 4000, a powerful, multi-band, multi-channel, award-winning radio frequency (RF) sensor that delivers comprehensive wireless device detection and positioning.

Inpixon Sensor 4000 passively detects and locates signals from active Wi-Fi, Bluetooth, and cellular devices, delivering a thorough view of transmitting devices in the monitored areas and enabling effective situational awareness, policy enforcement, and security alerts.

• Inpixon Pod, a lower cost sensor option for RF detection based indoor positioning that uses Wi-Fi for device locationing and tracking capabilities.

Leveraging multi-sensor trilateration, advanced algorithms and self-calibration tools to deal with changing RF environments, the Inpixon Pod delivers high positional accuracy.

Designed to plug into existing electrical outlets and/or be deployed using PoE drops, the Inpixon Pod can backhaul data over wire or wirelessly and can be deployed in various densities in a given 3D space to match a wide array of customer use cases needing various levels of positional accuracy from the zone-level to room-level to aisle-level.

• The Inpixon Sensor Ultra offers more reliable and precise location detection with more frequent location updates than current Bluetooth beacons or Wi-Fi by leveraging UWB technology.

This USB-enabled device operates independently, or with other sensors or third-party access points to identify and locate UWB tags and devices.

UWB tags can be customized to desired form factor.

• GPS Technologies

◦ The Inpixon GPS 900 is a personnel, vehicle and asset tracking solution designed to provide ground situational awareness and real-time surveillance of personnel and equipment traveling within a designated area, ranging from 20 – 200+ square-miles.

Inpixon GPS 900 establishes a private (not Internet-connected), hybrid GPS + RF

(900MHz), 256-bit AES-encrypted wide area network (WAN).

This product can be used by military commanders to identify the location of persons and assets in connection with base operations and during live-fire exercises.

◦ The Inpixon GPS Viewer is a browser-based portal used to monitor location and movements of GPS-enabled tracking devices.

Our global positioning system (GPS) tracking products provide ground positioning, asset tracking, and situational awareness monitoring for those whose intelligence needs expand outdoors.

• Chips/Transmitters/Anchors

Our high performance chirp transceiver chip, nanoLOC, offers robust wireless communication, ranging and RTLS capabilities using the chirp technology.

Inpixon offers both chirp andUWB real-time location system (RTLS) anchors.

Inpixon’s anchors run at the edge of the network and when leveraged with our location engine, provides the IoT interface to send location and context data to analytics engines.

• Hardware Modules We also offer a variety of hardware modules suitable for a multiple IoT implementations:

◦ The swarm bee LE is a chirp tag ready ranging, RTLS, communication radio and sensor module and is ideal for personnel, equipment and asset tracking products where indoor and outdoor location sensing is critical.

◦ The swarm bee ER is a UWB tag- ready ranging, RTLS, communication radio and sensor module is ideal for applications requiring very precise and reliable distance or location information.

◦ CO2 Sensor Module SG112A is a low-profile NDIR carbon dioxide (CO2) sensor module for monitoring indoor air quality to ensure adequate clean air.

◦ The CO2 Sensor Module SG112B is a self-calibrating NDIR carbon dioxide (CO2) sensor module that measures CO2 at relatively high concentrations ranging from 10% to 30% (up to 300,000 ppm).

Our indoor mapping solution, Inpixon Mapping, provides users with the tools to add intelligence to complex indoor spaces by integrating business data with geospatially accurate indoor maps to create relevant views of indoor environments.

The digital twin of a physical space facilitates use cases for facility management, security safety, customer or worker experiences, asst tracking and more.

Inpixon Mapping offers developers the flexibility and control to create tailored map-enabled solutions that address multiple use cases with a single set of maps.

Deployed through native SDKs (Web, iOS, Android), maps are broken down into layers and objects that can be associated with third party data sources and used to provide a high-fidelity and fluid user experience.

• The Inpixon Aware Core Insights software product provides our security customers running systems that are not connected to the internet an on-premises application to generate graphical reports on historical data (e.g., to reveal the number of unknown wireless devices per month over time or other alerts generated by the system) captured by Inpixon Aware.

• Inpixon Analytics is a high-performance, data analytics solution, that can deliver business intelligence for commercial or government premises worldwide through the use of our products as well as by ingesting data from other sources, such as third-party sensors, Wi-Fi access points, Bluetooth beacons, video cameras, and big data sources to provide actionable intelligence and insights for our customers.

This high-performance cloud-based data analytics engine can provide analytics on detected RF devices or active tags to power more advanced visitor or worker analytics.

Organizations are able to understand worker visitor behavior, journey, and path analytics.

Users can view their data in a configurable dashboard.

• Our Inpixon RF Video Connector is an add-on for Inpixon Analytics that utilizes sensor fusion to deliver a new, advanced form of video analytics to help security personnel combat crime and secure indoor locations.

This unique, patent-pending process correlates Wi-Fi device presence (e.g., what phones are present) and analytics to each security video frame generated by customers’ existing video management systems (VMS) in order to better understand how a device detected in one frame has moved throughout the venue and to provide security-based alerts.

Other Solutions

In addition to our positioning, mapping and analytics products, we also offer:

• Shoom digital solutions (eTearsheets;

eInvoice, adDelivery) are cloud-based applications and analytics for the media and publishing industry.

These products also generate critical data analytics for the customers.

• SAVES by Inpixon is a comprehensive set of data analytics and statistical visualization solutions for engineers and scientists.

Organizations across many different industries can leverage the accuracy, quickness, and reliability of both technologies to track the real-time location and status of key assets and equipment, with greater precision.

Users can display and track the location and movement of static and moving

assets and asset attribute information within a space on high-fidelity, layer-based indoor maps and navigate to assets that are both fixed and in motion.

• Video Integration – Our RF video solution uses IoT analytics data and allows direct integration with leading Video Management Systems (VMS) and CCTV to provide visual track and trace of assets or to quickly allow video to aid security personnel in an emergency situation.

This solution builds upon the accurate mapping solutions while adding analytics and precise RTLS data.

• Security – Our wireless detection and positioning solutions help cultivate situational awareness by leveraging sensors with proprietary technology that can detect and position active cellular, Wi-Fi, Bluetooth, UWB and Chirp signals throughout a venue.

This solution allows for the positioning of people and assets homogeneously as they travel in a controlled space and empowers users to make key decisions around security, risk mitigation and public safety, at scale.

• Transceiver/Modules - The Inpixon nanoLOC transceiver is a low-power, highly integrated mixed signal chip.

This 2.4 GHz long range CSS transceiver transmits and receives wireless data packets for robust wireless communication, ranging capabilities and RTLS.

A patented, Inpixon owned technology that offers range comparable to Wi-Fi systems with accuracy of BLE or UWB in some scenarios.

Supporting a freely adjustable center frequency with three non-overlapping frequency channels, amongst others, the Inpixon nanoLOC enables multiple physically independent networks and improved coexistence with existing 2.4 GHz wireless technologies.

This product is also available in a module form to allow easier integration for our partners and integrators.

With Shoom Digital Solutions we offer comprehensive digital solutions or cloud-based applications and analytics for the media and publishing industry, including eTearsheets and eInvoice.

eTearsheets provides both advertiser and publication users with an advertising analytics tool kit for accessing single ads or entire campaigns across multiple publications.

eTearsheets seamlessly with existing PDF work flows, merging users PDF pages with ad data, creating links to the ads, and sending an option e-mail to advertisers containing a link to their ad pages.

Users can access the site on their desktop, tablet or mobile devices, and need only internet access and a standard browser.

eInvoice is a hosted, web-based solution offering email notifications, seamless interaction eith eTearsheets and dynamic invoice searching.

Through our SAVES product line we offer a comprehensive set of data analytics and statistical visualization software solutions for engineers and scientists.

The suite of data analytics and statistical visualization tools includes SigmaPlot, SigmaStat, SYSTAT, PeakFit, TableCurve 2D, TableCurve 3D, SigmaScan and MYSTAT.

Product Enhancements

Our ability to adapt to the technological advancements within our industry is critical to our long-term success and growth.

As a result, our senior management must continuously work to ensure that they remain informed and prepared to quickly adapt and leverage new technologies within our product and service offering as such technologies become available.

In connection with that goal, our product roadmap development plans include expanding the use of ultra-wideband technology for asset tracking, furthering our efforts towards 3D mapping, including adding augmented reality features, artificial intelligence and machine learning improvements within our positioning algorithms, in addition to understanding worldwide 5G deployments to enhance our positioning capabilities.

Artificial Intelligence

In 2021, we intend to continue to expand our use of artificial intelligence (“AI”) and machine learning to improve positioning accuracy, enhance anonymous device capture algorithms and offer intelligent solutions, which will continue to be refined over time, for enterprise security and marketing customers.

Following these enhancements, our products will be able to assist in providing predictive, more accurate, bidirectional information to secure and optimize management of indoor spaces.

These enhanced algorithms will enable better positioning of devices, predictive analytics, faster analysis of data and improved user experience.

Building on R&D efforts in 2020, we intend to continue to study the worldwide 5G deployments to build a robust hardware and software solution to detect and position new handsets based on this technology and explore software defined radio solutions, as well as enhancements in antenna technology to provide our customers with additional capabilities in the security field.

Augmented Reality

As a result, our executive management must continuously work to ensure that they remain informed and prepared to quickly adapt and leverage new technologies within our product and service offering as such technologies become available.

In connection with that goal, our product roadmap development plans include expanding the use of both UWB and CSS technology for precise asset tracking, furthering our efforts towards 3D mapping, with a specific focus on light detection and ranging (LIDAR) and AR features, innovation in our machine learning algorithms for our positioning engines, understanding worldwide 5G deployments to enhance our detection and positioning capabilities.

Positioning Innovation Powered by Machine Learning

In 2022, we intend to continue to expand our use of machine learning and artificial intelligence (“AI”) to improve positioning accuracy, reliability and range which will provide additional to existing customers and unlock new opportunities for our technology.

These improvements will impact our on-device positioning technology used to provide an indoor blue dot in corporate enterprises as well as our CSS and UWB deployments in both commercial and industrial companies.

Following these enhancements, our products will be able to assist in providing predictive, more accurate, bidirectional location information to secure and optimize our deployments using hardware that includes iOS and Android smartphones, IoT sensors, access points or BLE beacons.

Building on research and development (R&D) efforts in 2021, we intend to continue to study the worldwide 5G deployments, both public and private, to identify a robust hardware and software solution to detect and position new handsets based on this technology and explore software defined radio solutions, as well as enhancements in antenna technology to provide our customers with additional capabilities in the security field.

This is a complex problem and we are working with partners and customers to understand requirements, use cases and solutions.

Mapping, Digital Twin and Augmented Reality

Our advanced mapping platform is built with a set of developer tools to power an infinite number of experiences across multiple platforms.

In 2021, we will continue to expand our tools by leveraging AR technologies to capture spatial data and overlay with the rich, profile-based maps in our CMS.

In 2022, we will continue to expand our tools by leveraging LIDAR technology to confirm asset location in a deployment and explore the ability to validate changes in the physical world match our digital twin.

AR technologies will be used to both display and capture spatial data that can be overlay with the rich, profile-based maps in our CMS.

This will allow new navigation use cases, applications for deployment of assets and possibilities for optimization in manufacturing and office environments.

With the addition of our on-device positioning technology in 2020 and the expanding usage of apps in the workplace, particularly campus and large building environments, we are investing R&D resources in improving our app capabilities, enhancing our SDKs and adding new functionality to support integration with workplace systems and tool.

With the addition of our on-device positioning technology and the expanding usage of apps in the workplace, particularly campus and large building environments, we are investing R&D resources in improving our app capabilities, enhancing our SDKs and adding new functionality to support integration with workplace systems and tool.

Our API and SDK integrations with partners that provide conferencing, collaboration, delivery, secure lockers, parking and IoT management are key differentiators that make our app the gateway for our customers.

By providing the best mapping and app experience our enterprise customers can improve efficiency and experience in offices and guide users in following new health and safety recommendations.

Analytics and Insights

We provide data science analytics, on-premises or in the cloud, along with specially optimized algorithms that are intended to increase usability of the data we collect for our customers.

In 2022, we will continue to expand this offering allowing customers to export data to internal business intelligence systems and to upload additional datasets that might include security systems, assembly line data or shopping and receiving information.

Our system then delivers data reporting and visualizations to the user combining these data sources.

Corporate Strategy

Since 2019, management has pursued an aggressive corporate strategic acquisition strategy focused on building and developing our Indoor Intelligence TM platform to be able to offer a comprehensive range of solutions that allow for the collection of data within workplace environments to delivering insights from that data for, people, places and things.

In furtherance of this strategy, we have completed a series of strategic transactions, including, the acquisition of (1) technologies allowing for wireless device positioning and radio frequency augmentation of video surveillance systems;

(2) GPS tracking products, software, technologies, and related intellectual property to provide ground positioning, asset tracking, and situational awareness monitoring for those whose intelligence needs expand outdoors;

(3) our indoor mapping solution, Inpixon Mapping, to provide users with the tools to add intelligence to complex indoor spaces by integrating business data with geospatially accurate indoor maps to create relevant views of indoor environments;

(4) a suite of on-device “blue dot” indoor location and

motion technologies, including patents, trademarks, software and related intellectual property;

(5) IoT solutions for RTLS and indoor and outdoor positioning solutions utilizing both industry-standard technologies, such as UWB, and patented proprietary wireless communication technologies, such as CSS;

(6) a suite of augmented reality, computer vision, localization, navigation, mapping, and 3D reconstruction technologies, including patents, trademarks, software and related intellectual property, (7) a leading SaaS app platform that enables corporate enterprise organizations to provide a custom-branded, location-aware employee app focused on enhancing the workplace experience and hosting virtual and hybrid events, and (8) an industrial IoT, RTLS, and sensor data services provider.

We believe these transactions have positioned us as a market leader with a comprehensive suite of products and solutions allowing us to help organizations enhance the visitor and employee experience with actionable indoor intelligence making them smarter, safer and more secure.

We operate and compete in an industry that is characterized by rapid technological innovation, changing customer needs, evolving industry standards and frequent introductions of new products, product enhancements, services and distribution methods.

Our success will depend on our ability to develop expertise with these new products, product enhancements, services and distribution methods and to implement solutions that anticipate and respond to rapid changes in technology, the industry, and customer needs.

In order to continue to respond to rapid changes and required technological advancements, as well as increase our shareholder value, we are exploring strategic transactions and opportunities that we believe will enhance shareholder value and support our commitment to delivering exceptional experiences and continued innovation with technologies that combine the physical and digital worlds with augmented reality and location based technologies.

We are primarily focused on identifying potential targets with business value and operational synergies, however, we will also be opportunistic and may consider other strategic and/or attractive transactions that we believe may increase overall shareholder value, which may include, but not be limited to other alternative investment opportunities, such as minority investments, joint ventures or special purpose acquisition companies.

In addition, at the end of last year, our board of directors authorized a review of strategic alternatives, including a possible asset sale, merger with another company or spin-off of one or more of our business units.

We have received an inbound preliminary indication of interest which we are currently evaluating.

We also intend to retain an investment bank as our financial advisor in order to evaluate any available strategic options that may be available to us, If we make any acquisitions in the future, we expect that we may pay for such acquisitions with cash, equity securities and/or debt in combinations appropriate for each acquisition.

Research and Development Expenses

Our future plans include significant investments in research and development and related product enhancement opportunities.

Our future plans include investments in research and development and related product enhancement opportunities.

Our management believes that we must continue to dedicate a significant amount of resources to research and development efforts to maintain a competitive position.

Our products intersect many emerging fields including metaverse, augmented reality, occupancy planning, industry 4.0, smart cities and we continue to innovate and patent new methods to solve problems for our customers.

Research and development expenses for the years ended December 31, 2021 and 2020 totaled approximately $14.1 million and $6.5 million, respectively.

Sales and Marketing

We utilize direct sales and marketing through approximately 26 sales representatives, who are compensated with a base salary and, in certain instances, may participate in incentive plans such as commissions or bonuses.

We utilize direct sales and marketing through sales representatives, who are compensated with a base salary and, in certain instances, may participate in incentive plans such as commissions or bonuses.

We also utilize webinars, conferences, tradeshows and other direct and indirect marketing activities to generate demand for our products and services.

We also have relationships with channel partners to directly engage with customers, to perform the installation as well as manufacturers (OEM) and systems integrators to assist with the implementation of certain of our products and services.

train our partners and we have our own channel/partner managers to support and augment partners as needed.

We are in the process of expanding our channel partners in both commercial and government markets.

Our Inpixon products are primarily sold on a license (up-front one-time fee) or software-as-a-service (SaaS) model.

We also have relationships with resellers and channel partners to directly engage with customers, to perform the installation as well as manufacturers (OEM) and systems integrators to assist with the implementation of certain of our products and services.

We are in the process of expanding our channel partners.

Our Inpixon products are primarily sold on a license (up-front one-time fee) or SaaS model.

In our licensing model, we also typically charge an annual maintenance fee.

3 unchanged sentences

SAVES products are sold as annual or perpetual licenses along with maintenance subscriptions.

The Company’s customers include shopping malls, corporate offices, healthcare facilities, government agencies, local publications, among others.

The Company’s customers include Fortune 1000 enterprises primarily in the US and Europe that range from leading automotive manufacturers to major airlines to metaverse focused organizations to leading edge-to-cloud providers.

A list of customers is available on our website at www.inpixon.com.

Our workplace experience products including our award-winning mobile app, events platform, mapping services and briefing center tools are deployed in various sectors including pharmaceutical, banking, technology, hospitals, shopping malls, entertainment, electric vehicles and food delivery.

Our industrial IoT offerings which include security sensors, real-time location tracking, process optimization, paperless factory and virtual warehouse are used around the world in automotive factories, logistics warehouse, underground mining, distribution facilities, government and military buildings and corporate offices.

Our top three customers accounted for approximately 16% and 43% of our gross revenue during the years ended December 31, 2021 and 2020, respectively.

One customer accounted for 26% of our gross revenue in 2020 and 42% in 2019.

During 2021 no customer accounted for more than 10% of our gross revenue, and one customer accounted for 8% of our gross revenue in 2021 and a separate customer accounted for 26% in 2020.

From time to time, one or two customers can represent a significant portion of our revenue as a result of one-time projects.

Our products compete with positioning companies such as Aruba, Cisco, Mist Networks/Juniper Networks, Aislelabs and Bluevision/HID.

For our mapping product, we compete with companies such as MappedIn and Mapwize.

For asset tracking, we compete with Zebra Technologies, Stanley Healthcare and other mostly vertical focused RTLS companies.

The positioning companies primarily offer only Wi-Fi and/or Bluetooth detection and, therefore, we believe they cannot achieve the same accuracy and comprehensive detection that we do.

We have partnered with or replaced some of these companies because we offer Wi-Fi, cellular, RFID, UWB and Bluetooth and have several meters to centimeter level location accuracy depending on the product.

Our business is characterized by innovation and rapid change.

Our Indoor Intelligence products compete with companies that offer positioning and asset tracking products and services, indoor mapping solutions, or workplace experience apps.

For positioning we compete with companies such as Aruba, Cisco, Mist Networks/Juniper Networks, Aislelabs and Bluevision/HID.

For our workplace experience app, events and executive briefing center products we compete with Modo, Comfy, On24, Cvent, Signet and BriefingEdge.

For our mapping product, we compete with companies such as MappedIn, Mapwize and Esri.

For asset tracking and our Industrial Internet of Things (IIoT) products, we compete with Ubisense, Sewio, Kinexon, Zebra Technologies, Stanley Healthcare and other mostly vertical focused RTLS companies.

The positioning companies primarily offer BLE or Wi-Fi detection and, therefore, we believe they cannot achieve the same accuracy and comprehensive detection that we do.

We have partnered with or replaced some of these companies because we offer GPS, Cellular/LTE, Wi-Fi, BLE, CSS and UWB solutions that can deliver the level of accuracy required for the customer use case.

Most of the companies above are focused on one product and/or vertical and, at this time, we believe none of them have the complete offering of positioning, mapping, RTLS and analytics.

Mobile device management companies like AirWatch and MobileIron have also integrated with us instead of developing competing products.

MerlinOne and PressTeligence compete with the functionality of our Shoom products, but typically provide information only for the specific customer and not for the customer’s competitors or for the industry.

We believe we offer a unique and differentiated approach to the market with our indoor intelligence offering which is:

1 unchanged sentence

We integrate a myriad of indoor data inputs and outputs.

The technology supports a multitude of use cases including asset tracking, navigation, facility management, analytics, and security across numerous industries in both the private and public sector.

The technology supports a multitude of use cases including workplace experience, asset tracking, navigation, facility management, analytics, and security across numerous industries in both the private and public sector.

We are built to support customers’ expanding needs and use cases.

6 unchanged sentences

Our SDKs enable developers to build new apps or to integrate location data into their existing mobile apps, websites or kiosks.

Originlab and Graphpad Prism are the main competitors of our SAVES products.

Intellectual Property

trademark registrations for the following nine marks:

Inpixon, IPA, Indoor Positioning Analytics, Security Dome, Shoom, ZoneDefense, and Find and Follow, Ten Degrees, as well as certain Inpixon design logos.

Each of these registrations is in the first 10-year registration term and we intend to renew each registration for additional 10-year renewal terms, as available.

We also have a pending applications for the following marks:

ZoneAware, Indoor Intelligence, Inpixon Aware, Inpixon Aware Core Insights, and Workplace Readiness.

We have similar trademarks and applications in other jurisdictions including Canada (including registration of two Nanotron marks), China, the European Union (including registration of Nanotron mark), Germany (registration of two Nanotron marks), India, Japan (including registration of a GO2O mark), and the United Kingdom (including registration of Nanotron and Clops marks).

We have twenty-four registered patents

and eleven pending applications in the United States relating to the Inpixon products, along with similar patents and applications in other jurisdictions including Australia, Canada, the European Patent Organization, France, Germany, Ireland, Mexico, and the United Kingdom.

The registered patents in the United States were issued in 2008, 2010, and in each year 2014 through 2020, 2016, 2017, 2018, and 2019 and will expire in the years 2021, 2025, 2029, and in each year 2031, 2032, 2033, 2034 and 2035 through 2037.

To establish and protect our proprietary rights, we rely on a combination of patents, trademarks, copyrights, trade secrets, including know-how, license agreements, confidentiality procedures, non-disclosure agreements with third parties, employee disclosure and invention assignment agreements, and other contractual rights.

We do not believe that our proprietary

technology is dependent on any single patent or copyright or groups of related patents or copyrights.

We believe the duration of our patents is adequate relative to the expected lives of our products.

Our SAVES products are sold pursuant to an exclusive, world-wide, fully transferable, royalty free, 15 year ("License Term") license and distribution agreement (the "Systat License Agreement") with Cranes Software International Ltd.

(“Cranes”) and Systat Software, Inc.

(“Systat” and together with Cranes, the “Systat Parties”) pursuant to which we were granted (a) an exclusive, worldwide license to use, modify, develop, market and distribute the SYSTAT software suite of products related source code, user documentation and associated intellectual property and (b) an exclusive, worldwide sub-license to use, modify, develop, market and distribute the Sigma Plot suite of software, related source code, user documentation and associated intellectual property licensed to Systat by Cranes.

In addition, we were also granted with an exclusive, worldwide, fully transferable, royalty free license to create derivative works and improvements, modifications, enhancements, changes, or corrections to the underlying software, source code and documentation during the License Term ("Modification").

We own title to any Modifications.

Government Regulation

8 unchanged sentences

Prior to the spin-off in August 2018 of our wholly owned subsidiary, Sysorex, Inc.

(“Sysorex”, our business was primarily focused on providing information technology and telecommunications solutions and services to commercial and government customers primarily in the United States in order to enable their customers to manage, protect, and monetize their enterprise assets whether on-premises, in the cloud, or via mobile.

The product and service offerings included enterprise infrastructure solutions for business operations, continuity, data protection, software development, collaboration, IT security, and physical security needs, that help organizations tackle challenges and accelerate business goals, including, third party hardware, software and related maintenance and warranty products and services resold from well-known brands and a full range of information technology development and implementation professional services, from enterprise architecture design to custom application development.

In 2013, we acquired our Shoom business with the acquisition of 100% of the outstanding capital stock of Shoom, Inc.

(“Shoom”), allowing us to expand our product offerings to include cloud-based data analytics and enterprise solutions to the media, publishing and entertainment industries.

In 2014, we acquired our IPA Security (previously Zone Defense and ZoneAware) product lines with the acquisition of 100% of the outstanding capital stock of AirPatrol Corporation (“AirPatrol”), with its Canadian based subsidiary AirPatrol Research, initiating our entry into the indoor location positioning market, where are business is focused today.

In 2015, we enhanced our analytics capabilities with the acquisition of substantially all of the assets of LightMiner Systems, Inc.

(“LightMiner”), including its in-memory, real-time, data analysis system designed to support traditional SQL-based business intelligence and analytics applications as well as a host of integrated statistical, machine learning and artificial intelligence algorithms.

Effective January 1, 2016, we completed a reorganization pursuant to which (1) AirPatrol and Shoom were merged into Lilien (which changed its name to “Sysorex USA”, and later Inpixon USA) and (2) the Company changed its name to “Sysorex Global” with completion of a statutory merger.

Immediately prior to the consummation of these mergers, the Company carried out (i) an assignment from AirPatrol to the Company of all shares of capital stock of AirPatrol Research, pursuant to which AirPatrol Research became a direct subsidiary of the Company;

(ii) the amendment of AirPatrol Research’s Notice of Articles to change its name to “Sysorex Canada Corp.”;

(iii) the dissolution and winding up of Sysorex Federal, in which Sysorex Federal assigned and transferred all of its assets, including all outstanding shares of capital stock of Sysorex Government, to the Company, and the Company assumed Sysorex Federal’s debts and liabilities;

(iv) an assignment from the

Company to Lilien of all outstanding shares of capital stock of Sysorex Government, pursuant to which Sysorex Government became a direct subsidiary of Lilien.

In 2016, we completed the acquisition of the business and certain assets of Integrio Technologies, LLC (“Integrio” or “Integrio Technologies”) and Emtec Federal, LLC (“Emtec Federal”).

Integrio, together with Emtec Federal, was an IT integration and engineering company that provided solutions for network performance, secure wireless infrastructure, software application lifecycle support, and physical cyber security for federal, state and local government agencies.

The Integrio business was spun-off in connection with the spin-off of Sysorex in August of 2018

In 2017, we completed a short form statutory merger with our newly formed wholly-owned subsidiary Inpixon formed solely for the purpose of changing our corporate name from Sysorex Global to Inpixon.

As part of the name change, each of our then-existing subsidiaries also amended their corporate charters to change their names from Sysorex USA, Sysorex Government Services, Inc.

and Sysorex Canada Corp.

to Inpixon USA, Inpixon Federal, Inc.

and Inpixon Canada, Inc., respectively, effective as of March 1, 2017.

In addition, effective March 1, 2017, the Company filed a Certificate of Amendment to its Articles of Incorporation with the Secretary of State of the State of Nevada to effect a 1-for-15 reverse stock split of the Company’s common stock for the purpose of complying with Nasdaq Listing Rule 5550(a)(2).

Effective as of December 31, 2017, we acquired approximately 82.5% of the outstanding equity securities of Inpixon India Limited (“Inpixon India”) from Sysorex Consulting, Inc.

(“SCI”) pursuant to that certain Stock Purchase Agreement dated as of December 31, 2017 by and among us, SCI and Inpixon India, for aggregate consideration for the assignment by us of $666,000 of outstanding receivables.

On January 18, 2018, we sold our 50.2% interest in Sysorex Arabia to SCI in consideration for SCI’s assumption of 50.2% of the assets and liabilities of Sysorex Arabia, totaling approximately $11,400 and $1,031,000, respectively.

On February 2, 2018, we filed a Certificate of Amendment to our Articles of Incorporation with the Secretary of State of the State of Nevada to increase the total number of authorized shares of common stock from 50,000,000 to 250,000,000, as approved by our stockholders at a special meeting held on February 2, 2018 and effective upon filing (the “Authorized Share Amendment”).

On February 2, 2018, we filed a Certificate of Amendment to our Articles of Incorporation with the Secretary of State of the State of Nevada to effect a 1-for-30 reverse stock split of our issued and outstanding shares of common stock, effective as of February 6, 2018 for the purpose of complying with Nasdaq Listing Rule 5550(a)(2).

On August 31, 2018, we completed the spin-off of Sysorex to separate our legacy enterprise infrastructure solution business from our indoor positioning analytics business.

On November 2, 2018, we effected, a reverse split of our outstanding common stock, at a ratio of 1-for-40, for the purpose of complying with Nasdaq Listing Rule 5550(a)(2).

(“Sysorex”), our business was primarily focused on providing information technology and telecommunications solutions and services to commercial and government customers primarily in the United States.

The product and service offerings included enterprise infrastructure solutions for business operations, continuity, data protection, software development, collaboration, IT security, and physical security needs, including, third party hardware, software and related maintenance and warranty products and services resold from well-known brands and information technology development and implementation professional services.

On August 31, 2018, we completed the spin-off of Sysorex to separate our legacy enterprise infrastructure solution business from our indoor intelligence business.

On May 21, 2019, we completed the acquisition of 100% of the outstanding capital stock of Locality Systems, Inc.

18 unchanged sentences

As a result of the acquisition, our asset tracking and RTLS business expanded to include offering wireless location awareness technology for consumers, for solutions such as locating and tracking a pet, livestock, child, or property, while transmitting the data into a useable format.

On March 25, 2021, we entered into a Stock Purchase Agreement (the “GYG Purchase Agreement”) with Game Your Game, Inc., a Delaware corporation (“GYG”), and certain selling shareholders (the “Selling Shareholders”), pursuant to which we will acquire an aggregate of 522,000 shares of common stock of GYG (the “GYG Shares”), representing 52.2% of the outstanding shares of common stock of GYG on a fully diluted basis, in exchange for $1,666,932 in cash (the “Cash Consideration”), and a number of shares of our common stock equal to $1,403,103 divided by the lesser of (A) the closing price per share of our common stock, as reported by the Nasdaq Stock Market, immediately prior to the closing of the transaction and (B) the average closing price of our common stock, as reported by the Nasdaq Stock Market, for the 5 trading days immediately preceding the closing date.

The Cash Consideration will be used for working capital purposes and to satisfy certain outstanding payroll obligations of GYG.

The closing of the transaction is subject to the terms and satisfaction of the conditions set forth in the GYG Purchase Agreement.

GYG’s business consists of developing and providing solutions using sports data and analytics.

On April 23, 2021 we entered into an asset purchase agreement (the “Asset Purchase Agreement”) with Visualix GmbH i.L.

(the “Visualix”), its founders (each, a “Founder,” and collectively, the “Founders”), and Future Energy Ventures Management GmbH (“FEVM”) pursuant to which we acquired substantially all of thr Visualix assets including certain computer vision, robust localization, large-scale navigation, mapping, and 3D reconstruction technologies (collectively, the “AR Technology”), the intellectual property and patent applications underlying the AR Technology.

On April 30, 2021, we acquired over 99.9% of the outstanding capital stock of Design Reactor, Inc., a California corporation (“The CXApp”), the provider of a leading SaaS app platform that enables corporate enterprise organizations to provide a custom-branded, location-aware employee app focused on enhancing the workplace experience and hosting virtual and hybrid events pursuant to the terms of a Stock Purchase Agreement.

On May 10, 2021, we acquired the remaining interest of The CXApp and now own 100% of the outstanding capital stock of The CXApp.

On December 9, 2021, through our wholly-owned subsidiary, Nanotron Technologies GmbH, a limited liability company incorporated under the laws of Germany (the “Purchaser”), we entered into a Share Sale and Purchase Agreement (the “Purchase Agreement”) with the shareholders of IntraNav GmbH, a limited liability company incorporated under the laws of Germany (“IntraNav”), pursuant to which we acquired 100% of the outstanding capital stock (the “IntraNav Shares”) of IntraNav, a leading industrial IoT (“IIoT”), real-time location system (“RTLS”), and sensor data services provider.

Corporate Information

We have six operating subsidiaries:

(i) Inpixon Canada, Inc.

(100% ownership) based in Coquitlam, British Columbia (“Inpixon Canada”);

(i) Inpixon Limited (100% ownership) based in Slough, United Kingdom;

(iii) Inpixon GmbH (100% ownership) based in Ratingen, Germany;

(iv) Design Reactor, Inc.

(The CXApp) (100% ownership);

(v) Game Your Game, Inc., based in Palo Alto, CA (55.4%);

and (vi) Inpixon India Limited (82.5% ownership) based in Hyderabad, India.

In addition, Active Mind Technology Ltd.

is an indirect subsidiary of the Company and the wholly-owned subsidiary of Game Your Game, Nanotron Technologies GmBh ("Nanotron"), based in Berlin, Germany is an indirect subsidiary of the Company and the wholly owned subsidiary of Inpixon GmbH and IntraNav GmbH, based in Eschborn, Germany is an indirect subsidiary of the Company and the wholly owned subsidiary of Nanotron.

Our principal executive offices are located at 2479 E.

Bayshore Road, Suite 195, Palo Alto, CA 94303, and our telephone number is (408) 702-2167.

Our subsidiaries maintain offices in Coquitlam, British Columbia, New Westminster, British Columbia, Toronto, Ontario, Hyderabad, India, Berlin Germany, Ratingen, Germany, and Slough, UK.

Our subsidiaries maintain offices in Coquitlam, British Columbia, New Westminster, British Columbia, Toronto, Ontario, Hyderabad, India, Berlin Germany, Ratingen, Germany, Eschborn, Germany and Slough, UK.

Our Internet website is www.inpixon.com.

1 unchanged sentence

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business