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My first review of 2021 earning socked me and look much better then I thought they would be. Waiting to see 1st and 2nd quarter earnings for 2022 but if good we will see IDEX fly high on Tuesday.
I jumped in after hours was waiting for financials to be released for a long time.
Or the lender isn’t sure and wants to de-risk. That’s how I read it. Also the conversion terms demonstrate that they could convert at 1.50 if things are fine and if not they get shares at 85% discount from recent price action and no lower then .20
No assurance on the report getting filed in time. pps isn’t showing much confidence
But if they don’t file in time and the lender gets cheap shares I could figure out if they can sell right away or have to hold. If they can sell right away we might have an incredible buy the dip opportunity
Essentially the company is putting roughly half their remaining loan balance ($8,333,333.50) into escrow, and it will be paid to the lender if they fail to file all their reports by September 12 as they've announced is their intention. If they file all their reports, as they've said they would, then they get to keep the escrow deposit, but their loan payment obligations will continue as before.
Basically, they're trying to reassure the lender that their investment is safe and the reports will be filed by September 12.
Also this a big cash drain they just gave a bunch of cash to via motors too.
If they have plenty of cash no problem. If not???
It’s hard to tell and if the investor is de risking their investment like it appears I can’t and won’t assume anything
If you read the complete 8K I find some positive info: It is common that those that invest in convertible debenture received positive inside info that would make the investor comfortable with their investment
examples
The “Conversion Price” shall mean, as of any Conversion Date (as defined in the Amended Debenture) or other date of determination, the lower of (y) $1.50 or (z) 85% of the lowest daily VWAP during the 7 consecutive Trading Days
The most important point is if IDEX fails to report required SEC documents by Sept 12 the agreement is cancelled - do you think IDEX will not report and be forced to repay this amount? IMO, they know they will comply before this date.
On or prior to September 1, 2022, the Company agreed to deliver the Deposit directly to the Escrow Agent by wire transfer. If, on or prior to September 12, 2022, the Company files with the SEC all Initial Periodic Reports (as defined in the Amendment Agreement) required to be filed by the Company under applicable laws and regulations so as to be current on all of its periodic SEC filings as of such date, the Investor has agreed to then promptly deliver written instructions to the Escrow Agent to promptly disburse the Deposit (without interest) to the Company. If the Company fails to file all Initial Periodic Reports (as defined in the Amendment Agreement) by September 12, 2022, then upon receipt of written instructions from the Investor the Escrow Agent shall promptly disburse the Deposit (without interest) to the Investor, which amount shall reduce the outstanding balance on the Amended Debenture in accordance with the terms thereof.
I don’t think it closed yet.
Did $IDEX already buy VIA Motors for $630 Million? Headquartered in Orem, Utah, will manufacture electric commercial vehicles including Class 2 through Class 5 cargo vans, trucks, and buses. The company has deep experience in the vehicle electrification market and continues to develop business relationships with commercial fleets and distributors in the United States, Canada, and Mexico. VIA Motors is also working with an autonomous technology company to provide electrification of autonomous trucks for short-haul and mid-mile delivery.
A lot of potential here but they got to provide audited financials
Come on!
Thank you will keep this on watch
Electric Vehicles $IDEX Ideanomics, Inc. focuses on driving the adoption of commercial electric vehicles, associated energy consumption, and developing financial services and fintech products. Its Ideanomics Mobility division facilitates the adoption of electric vehicles by commercial fleet operators. This division also offers solutions for the procurement, financing, charging, and energy management needs for fleet operators of commercial electric vehicles. The company's Ideanomics Capital division provides fintech services, which focuses on the enhancement of efficiency, transparency, and profitability for the financial services industry. Ideanomics, Inc. was incorporated in 2004 and is headquartered in New York, New York.
Looks like she can pop easy
$IDEX EV Farming Tractors Solectrac Recently Expanded Nationwide Electric Tractor Sales Network with Three New Dealer Partnerships $IDEX
Thanks for the update. Fingers crossed filings come thru as planned. $IDEX
If not it's a total unmitigated disaster for this PENNY stock
JUSTLY (by Ideanomics) Issuer Newsflash: Geothermal Energy Source Launches Funding round
August 18, 2022
https://investjustly.com/ceraphi-launches-funding-round/
UK Firm CeraPhi Energy Launches Funding Round to Raise £12.4 Million
The Great Yarmouth-based end-to-end advanced closed-loop geothermal business, CeraPhi Energy, has announced the launch of a £12.41 million funding round as it prepares for growth.
The firm took to JUSTLY as it looks to raise capital through its US platform with plans to expand its operations overseas.
The company was founded in June 2020 as the first company in the UK to offer a complete end-to-end geothermal energy solution.
End-to-end, closed-loop technology is designed to fit into old wells to extract heat from deep underground by a downhole heat exchanger.
It is undertaking a study funded by UK Net Zero Technology Centre in partnership with Petrofac to evaluate whether oil and gas wells in the North Sea can be repurposed for geothermal energy.
Link to full article https://ceraphi.com/uks-advanced-geothermal-business-announces-funding-round/
Justly Markets LLC, an Ideanomics Company
JUSTLY is a global fundraising platform, focused on social impact by advocating for investments in ESG. We are registered as a FINRA broker dealer, being certified as a B Corp, and partnered with third-party experts that independently evaluate ESG criteria. To maintain financial integrity at JUSTLY, our investors and issuers are put through an enhanced due diligence process, including AML/ KYC review.
IDEX could move fast if as they stated they get all SEC required filing by Sept. 12, 2022 This would remove the red flag the SEC has as non-reporting company. We know they have new accounting firm working on this and IMO we will see IDEX move up unless some very damaging info or Hugh losses are reported.
The Company currently anticipates filing its Form 10-K for the fiscal year ended December 31, 2021 and its Form 10-Q for each of the fiscal quarters ended March 31, 2022 and June 30, 2022 by September 12, 2022.
Ideanomics institutional ownership
https://fintel.io/so/us/idex
*** Ideanomics $IDEX electric Vehicle BREAK OUT VOLUME ****
VIA Motors International will produce electric commercial vehicles
Sandy Diaz Fernandez·1 August, 2022
https://alianzaflotillera.com/via-motors-international-producira-vehiculos-comerciales-electricos/
Bob Purcell, CEO of VIA Motors International, announced that by the end of 2023 it will start production of electric commercial vehicles. The offering will include cargo van, pickup truck with steps, cab chassis and trimmed configurations, basically for last-mile deliveries.
"VIA and its engineers have designed a scalable modular platform based on skateboards but for electric vehicles. We will focus on the Class 2 to 6 segments with various body styles for carriers," said Bob Purcell.
Meanwhile, the platform was reported to have a floor height of 21 inches, six shorter than a current delivery vehicle. This represents benefits for drivers, because by climbing less height to enter the truck, they would have less stress on their back and joints and would not fatigue as much.
The units are likely to include configurations for regenerative braking, from almost none to complete regeneration. The latter allows driving with a single pedal. Consequently, the vehicle recovers the most energy and saves brakes, contributing to improved operating costs.
Speaking of range, it would probably be between 100 to 150 miles to suit most duty cycles.
VIA Motors' electric vehicles will be sold globally, including Mexico. An example of the above, was the unit of the brand exhibited last month (July) at the National Forum of Freight Transport, organized by the National Association of Private Transport, ANTP.
Accompaniment to clients
Part of VIA Motors International's goal is to deliver the total fleet experience. Aspects such as maintenance, route mapping and more are combined with driving comfort, energy efficiency and connectivity.
As a result, the vehicle sold will be able to include intelligent software packages and fleet monitoring systems, both designed to reduce costs and improve operational efficiency.
A growing market
According to recent forecasts, the market share of last-mile delivery is expected to increase by $143.75 billion from 2021 to 2026. 39% of that will be accounted for in North America.
VIA Motors International was acquired by Ideanomics in 2021. Its county seat is Orem, Utah. It has distributors in the United States, Canada and Mexico. In fact, in Mexico it is represented by AT Motors which has a production plant in Veracruz with the capacity to manufacture 10 thousand units per year.
New dealers ain’t gonna cut it - better get those fins in by mid September or this is otc bound.
Uggg BottomBounce. We need an $IDEX rally back to $4/$5!!!!
Let’s go $IDEX … make it happen.
Solectrac Continues Growth with Two New Dealer Retail Partnerships Added to Its Nationwide Electric Tractor Sales Network
Dealers in Florida and Ohio have become part of Solectrac's dealer network totaling seven dealers across the nation
Aug. 2, 2022
https://investors.ideanomics.com/2022-08-02-Solectrac-Continues-Growth-with-Two-New-Dealer-Retail-Partnerships-Added-to-Its-Nationwide-Electric-Tractor-Sales-Network
WINDSOR, Calif., Aug. 2, 2022 /PRNewswire/ -- Solectrac, makers of electric tractors and an operating company of Ideanomics (NASDAQ: IDEX), today announced two new dealer partners in the continued expansion of its certified sales and dealer network. The addition of Love Power Equipment (FL) and Specialty Tractors (OH) further expands Solectrac's reach across the country with additional dealers anticipated in the coming months.
"As more dealers continue to join our network and even more coming on board in the next couple of months, this heightens Solectrac's reputation as a leader in providing alternatives to diesel engines for sustainable farming," states Solectrac CEO, Mani Iyer. "One of our greatest recognitions is getting these award-winning tractors to dealers across the United States who sell to the hobby farms and municipalities looking to power their tractors with the same productivity and performance as diesel-powered options but using clean renewable energy sources."
Solectrac debuted its dealer network in March in the Pacific Northwest with Brim Tractor being the first dealer. Shortly after, Columbiana Tractor, LLC came on board followed by three new dealers last month – Ocala Tractor, LLC, Schow's Inc. and Georgia Land Equipment, LLC in Florida, Idaho and Georgia, respectively. To date, Solectrac has secured seven dealer partners across the U.S. These recent partnerships expand Solectrac's dealer network reach in Ohio and further advance current electric tractor sales in Florida.
Love Power Equipment
Love Power Equipment dealership in Florida serves the Homosassa area in Brevard, Citrus, Dixie, Gilchrist, Hernando, Hillsborough, Levy, Pasco, Pinellas, Polk, Orange Osceola, and Seminole counties. They carry a large selection of construction equipment, farming implements, mowers, new and pre-owned tractors, trailers and UTVs. Love joins Ocala Tractor Supply as the second Solectrac dealer in Florida.
Specialty Tractors
Specialty Tractors, part of the Specialty Family of Dealerships, has been serving customers since 2000 with RVs, outdoor, marine, and landscaping equipment, and parts and rental services. Serving across four locations in Ohio, they offer Mahindra, Gravely, Exmark, Simplicity, Snapper mowers, Roxor UTVs, and parts/service for tractors and other equipment. Along with the other dealerships, onboarding Specialty Tractor cements Solectrac's presence in the Midwest, a critical region in agriculture.
Solectrac, a B Corp Certified company, assembles its electric tractors in Windsor, Calif., and recently established a partnership with Nolan Manufacturing to support its growing demand along the east coast. Solectrac is taking orders for the e25, a versatile, four-wheel drive tractor great for hobby farms, golf courses, sports fields, equestrian centers and municipalities. Tractors are being delivered in 30 days or less from these local dealers.
To learn more or to place an order, visit www.solectrac.com or find a certified dealer near you. If you are interested in carrying Solectrac electric tractors in your dealership, contact 866-219-6750. For more information and news on Solectrac, please visit www.solectrac.com.
About Solectrac
Solectrac, Inc., located in Northern California, has developed 100% battery-powered, all-electric tractors for agriculture and utility operations. Solectrac tractors provide an opportunity for farmers around the world to power their tractors by using the sun, wind, and other clean, renewable sources of energy. The company's mission is to offer farmers independence from the pollution, infrastructure, and price volatility associated with fossil fuels.
About Ideanomics
Ideanomics (NASDAQ: IDEX) is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles and charging technology with design, implementation, and financial services, we provide solutions for the commercial world to commit to an EV future. To keep up with Ideanomics, please follow the company on social media @ideanomicshq or visit https://ideanomics.com.
I think it’s a financing issue but who knows. Via is the longer term golden egg if it’s legit and they pull it off
My opinion only but the reason we languish here below $1 is waiting on the audited financials. Latest 8k showed they switched auditors so now we wait
I haven’t been paying much attention here but started buying back in, based on the chart. What’s the update on Via? Why haven’t they closed this yet?
No idea on earnings but I do think you are correct there are losses in there. It’s the revenue growth we should pay attention to and progress on vertical integration of these acquisitions.
The big play is via motors which still needs to close. If and when that closes then we might see a big pop. The downside is current shareholders loose some ownership according to the filings.
govprs, Once IDEX finally releases their 2021 annual earnings along with 1st. & 2nd quarter how do you feel their earnings will show?
IMO, they are still developing company but in a lot of good technology, which should be good long term. They acquired lot of companies so their earning will have lots of goodwill write downs and will show a loss, but what will they state for their going forward outlook. This could go up vary fast if all looks good.
Yeah this is all about credibility. Great vision here but people want to know this is a money maker!
what I find is most important in IDEX last 8K filing is; The Company is diligently working to file the Periodic Reports with the SEC by September 12, 2022,
IMO, we will see IDEX gain full SEC compliance before Sept. 12 OR management has failed to do their jobs. If IDEX gains full SEC compliant we will see IDEX over $1.00 fast.
Item 8.01. Other Events.
On July 25, 2022, the Company received formal notice that the Listing Qualifications Staff (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”) had granted the Company’s request for continued listing on Nasdaq pursuant to an extension through September 12, 2022 to evidence full compliance with Nasdaq’s filing requirement, as set forth in Nasdaq Listing Rule 5250(c)(1). Pursuant to the terms of the Staff’s determination, on or before September 12, 2022, the Company must file with the SEC the Annual Report on Form 10-K for the fiscal year ended December 31, 2021, the Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, and the Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, which in the normal course must be filed with the SEC by August 14, 2022 (collectively, the “Periodic Reports”).
The Company is diligently working to file the Periodic Reports with the SEC by September 12, 2022, in accordance with the terms of the Staff’s decision; however, there can be no assurance the Company will be able to do so. In the event the Company does not evidence full compliance with Nasdaq’s filing requirement by September 12, 2022, the Staff will issue a delist determination, which the Company will have the right to appeal to a Nasdaq Hearings Panel (the “Panel”). The Company’s request for a hearing would stay any further action by the Staff at least pending a hearing, the subsequent issuance of a decision by the Panel, and the expiration of any additional extension the Panel may grant to the Company.
Solectrac e25 Compact Electric Tractor Now Eligible for the Clean Off-Road Equipment Voucher Incentive Program
July 25, 2022
https://investors.ideanomics.com/2022-07-25-Solectrac-e25-Compact-Electric-Tractor-Now-Eligible-for-the-Clean-Off-Road-Equipment-Voucher-Incentive-Program
$125 million financial assistance vouchers are available to California off-road equipment users looking to purchase a new electric tractor
WINDSOR, Calif., July 25, 2022 /PRNewswire/ -- Solectrac, maker of electric tractors and an operating company of Ideanomics (NASDAQ: IDEX), today announced that its popular e25 compact electric tractor is now eligible for the Clean Off-Road Equipment (CORE) Voucher Incentive Program. Vouchers for Solectrac's e25 tractors are available immediately to provide financial assistance to California businesses and government agencies. The CORE Voucher Incentive Program is a $125 million project encouraging off-road equipment users to move to zero-emission options.
Often upfront costs inhibit conversion to electric tractors even though over the life of the machine, Solectrac electric tractors provide substantial cost savings when compared to diesel," explains Mani Iyer, CEO of Solectrac. "The CORE vouchers will help offset the upfront cost of purchasing an electric tractor in comparison to similar diesel models. We work with agencies around the country, so it is very exciting to have our e25 be a part of California's CORE Voucher Incentive Program."
CORE is instrumental in facilitating the transition to electric off-road equipment, which is as important as on-road electric vehicles in addressing climate change, lowering reliance on fossil fuels, and implementing new technologies. CORE works with the California Air Resources Board (CARB) to meet emissions goals and improve air quality statewide. Solectrac's acceptance into the CORE program illustrates the importance of including regenerative agriculture in the movement towards electrifying off-road equipment for the betterment of our climate as the e25 tractor offers a cleaner, cost-saving alternative to diesel tractors.
CORE vouchers work as a point-of-sale discount and have no scrappage requirement. Additional funding is available for charging and fueling infrastructure and for equipment deployed in disadvantaged communities. To request a CORE voucher for a Solectrac e25 tractor, visit https://californiacore.org.
About Solectrac
Solectrac, Inc., located in Northern California, has developed battery-powered, electric tractors for agriculture and utility operations. Solectrac tractors provide an opportunity for farmers around the world to power their tractors by using the sun, wind, and other clean, renewable sources of energy. The company's mission is to offer farmers independence from the pollution, infrastructure, and price volatility associated with fossil fuels.
About Ideanomics
Ideanomics (NASDAQ: IDEX) is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles and charging technology with design, implementation, and financial services, we provide solutions for the commercial world to commit to an EV future. To keep up with Ideanomics, please follow the company on social @ideanomicshq or visit: https://ideanomics.com.
Contacts:
Ideanomics, Inc.
Tony Sklar, SVP of Investor Relations
1441 Broadway, Suite 5116, New York, NY 10018
ir@ideanomics.com
Malory Van Guilder, Skyya PR for Ideanomics
malory@skyya.com
SOURCE Solectrac
Energy Secretary Jennifer Granholm tweet featuring a Solectrac tractor
.@eeregov knows that strengthening our transportation sector supports our growing economy. That's why they're investing $96M in clean mobility options to:
— Secretary Jennifer Granholm (@SecGranholm) July 23, 2022
✅ Eliminate harmful emissions
✅ Reduce our reliance on volatile fossil fuels
✅ Cut energy costshttps://t.co/N2K6ySQFd3
InoBat will supply Impact with battery cells. Modules to be adopted by “a leading European bus manufacturer”
20 July 2022 by Editorial Staff
https://www.sustainable-bus.com/components/inobat-impact-battery-cooperation-bus/
InoBat and Impact Clean Power Technology have signed an agreement for the development and subsequent supply of battery cells to Impact. Utilising this prismatic battery cells, Impact will develop a high voltage battery system that will be manufactured in GigafactoryX in Poland (whose project has been recently released) for use “in an electric bus for a leading European bus manufacturer."
InoBat – Impact: battery testing during 2023
Research and development work will focus on the creation of an early prototype sample cell before conducting thorough component testing, mechanical, safety and performance testing during 2023. Further testing and certification would then be required with the aim, when the battery sample cells achieve the required specifications, would then be to commence production immediately.
Marian Bocek, Co-Founder and CEO of InoBat Auto commented: “Since our inception in 2019, Inobat has always taken a customer-centric approach providing tailor-made EV battery solutions for customers with longer range, longer lifecycle, higher energy density and faster charging time. We are delighted to be working with Impact to create a truly differentiated electric battery cell that meets the needs of their innovative battery systems as we both drive towards achieving our mutual goals to enable the transition towards zero-emissions transport.”
Bartlomiej Kras, President of the Management Board of Impact commented: “Our focus on innovative battery systems with bespoke parameters to provide a market advantage in every segment of our business are constantly developing with every generation of our solutions. We are ready to support global efforts towards a zero-emission economy and hence are extremely pleased to support a leading European battery manufacturer.”
Solectrac Partners With Nolan Manufacturing to Meet Increasing Electric Tractor Demands\
July 12, 2022
https://investors.ideanomics.com/2022-07-12-Solectrac-Partners-With-Nolan-Manufacturing-to-Meet-Increasing-Electric-Tractor-Demands
Summary
- This 10,000-square-foot facility in North Carolina allows Solectrac to scale operations as it continues to expand its nationwide dealer network.
- Nolan manufacturing will produce Solectrac's e25 electric tractors with additional models slated for future production.
WINDSOR, Calif., July 12, 2022 /PRNewswire/ -- Solectrac, makers of electric tractors and an operating company of Ideanomics (NASDAQ: IDEX), today announced a partnership with Nolan Manufacturing establishing an east coast production facility to meet the increasing demand for electric tractors across the country. The 10,000-square-foot facility in Denton, NC broadens Solectrac's service for east coast customers and reinforces the company's continued nationwide growth.
Since Ideanomics' acquisition in June 2021, Solectrac has grown significantly, adding several dealers throughout the United States, including three recently added on the east coast in Alabama, Florida and Georgia. Partnering with Nolan Manufacturing increases Solectrac's production capacity in support of its growing dealer network. The primary production at Nolan Manufacturing is Solectrac's e25 electric tractor, with additional models planned for future production.
Solectrac-ElectricTractors
"As the demand for Solectrac's electric tractors continues to increase, I'm excited about our persistent progress on the East Coast towards a more sustainable future and regenerative agriculture," said Mani Iyer, Solectrac CEO. "With a 10,000 square foot manufacturing facility, 57 acres and three new buildings, we are ramping up production quickly and will be able to deliver tractors to dealer partners expeditiously and provide more efficient services to existing customers. As we achieve full production capacity, we are focused on making hiring and training a top priority."
Nolan Manufacturing has over 50 dealers from Maryland to Georgia, with four equipment dealerships in North Carolina. They are producers of equipment and landscaping trailers with plans to expand production and distribution operations to include farm tractor implements, alongside the distribution of Solectrac tractors.
"It's exciting to be in a partnership that will support Solectrac with meeting the growing demand for their tractors," states Chris Biesecker, owner of Nolan Manufacturing. "The demand for Solectrac tractors is growing on the East Coast, and we're proud to do our part in providing the market with the economical and environmentally friendly Solectrac tractor." Chris has worked in equipment retail for over 30 years and will oversee the day-to-day operations of Solectrac tractors.
About Solectrac
Solectrac, Inc., located in Northern California, has developed battery-powered, electric tractors for agriculture and utility operations. Solectrac tractors provide an opportunity for farmers around the world to power their tractors by using the sun, wind, and other clean, renewable sources of energy. The company's mission is to offer farmers independence from the pollution, infrastructure, and price volatility associated with fossil fuels.
About Ideanomics
Ideanomics (NASDAQ: IDEX) is a global group with a simple mission: to accelerate the commercial adoption of electric vehicles. By bringing together vehicles and charging technology with design, implementation, and financial services, we provide solutions for the commercial world to commit to an EV future. To keep up with Ideanomics, please follow the company on social @ideanomicshq or visit: https://ideanomics.com.
$IDEX Electric Motorcycle market worth $40 Billion by 2027. Electric Motorcycles & Scooter - Market Worth USD 40 Bn by 2027 https://www.gminsights.com/industry-analysis/electric-motorcycles-and-scooters-market
$IDEX 12-month price forecasts for Ideanomics Inc have a median target of 2.00, with a high estimate of 3.00 and a low estimate of 1.00. The median estimate represents a +224.31% increase from the last price of 0.62.
InoBat Auto, Ideanomics, and the State of Indiana declare ambitious EV electrification plans for the North American market.
Within their strategic partnership, InoBat Auto and Ideanomics intend to:
Open a new battery module and pack R&D and a prototype-volume production facility.
Construct a full commercial-scale battery module and pack assembly plant.
InoBat is also exploring the potential construction of a cell manufacturing plant in line with future offtake agreements.
The State of Indiana was chosen as a prime location for investment due to its high concentration of OEMs, suitable business conditions for industrial projects and support from the State.
Listed plans follow up on Ideanomics' strategic investment into InoBat Auto from January 2022 to secure future battery supply and commercialize standard and tailor-made battery packs for the U.S. market. $IDEX
https://www.stocktitan.net/news/IDEX/ino-bat-auto-and-ideanomics-reveal-plans-to-build-r-d-and-battery-biyuezp3horv.html
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PUBLICATION NOTICE
TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE PUBLICLY TRADED COMMON STOCK OF IDEANOMICS, INC. ("IDEANOMICS") (NASDAQ: IDEX, WCST, SSC) LISTED ON THE NASDAQ OR DOMESTICALLY IN THE UNITED STATES BETWEEN FEBRUARY 1, 2017 AND NOVEMBER 13, 2018 AND WERE DAMAGED THEREBY ("CLASS").
YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Southern District of New York, that Lead Plaintiff Jaysukh Rudani ("Lead Plaintiff"), on behalf of himself and each member of the Class, and defendants Ideanomics, Zheng Wu a/k/a Bruno Wu, Bing Yang, and Robert Benya, have reached a proposed settlement of the above-captioned action ("Action") in the amount of $5,000,000 that, if approved, will resolve the Action in its entirety (the "Settlement").
A hearing will be held on January 25, 2022 at 10:00 a.m./p.m., at the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007 in Courtroom 11A for the purpose of determining: (1) whether the proposed Settlement as set forth in the Stipulation of Settlement dated July 30, 2021 ("Stipulation") of the Action is fair, reasonable, and adequate; (2) whether a Judgment should be entered by the Court dismissing the Action with prejudice; (3) whether the Plan of Allocation for distribution of the settlement funds available for distribution is fair, reasonable, and adequate and should be approved; and (4) whether the application of Lead Counsel for the payment of attorneys' fees in the amount of 33.33% of the Settlement Fund, and reimbursement of Lead Counsel's expenses up to $40,000, should be approved."
IA is looking at gobbling the biggest piece of the IDEX Pie!...
IA committed to buy, From time to time IA will be adding a whopping $150Million dollar worth of IDEX!.
Already bought:
IA II PN Ltd just bought 12.5M Shares @$2.213 and few days earlier same IA II PN Ltd bought another 13.3M shares @$2.613 together 25.83M shares for total Sales of $35M
Here is the News Link: https://www.otcmarkets.com/filing/html?id=14532953&guid=zWUqUnO0tQNjb3h
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