Columbus, Ohio-based Intellinetics, Inc. (OTCQB:INLX) enables businesses to manage, preserve, and safeguard their critical documents and data. The business makes available its IntelliCloudTM content management system.
Intellinetics (OTCQB:INLX) reports that the NYSE American stock market has approved the listing of its common stock.
When trading opens on September 9 in 2022, it will start trading on the NYSE American with its current ticker “INLX”.
The common stock of the company will keep trading on the OTCQB until the market closes on September 8, 2022.
By improving our visibility among investors and, consequently, enhancing liquidity, trading on the NYSE American will enable us to generate higher long-term value for our owners. As a result, we have increased confidence in our growth plan and will keep providing highly regulated industries with mission-critical digital transformation solutions. remarked James F. DeSocio, Intellinetics’ president and chief executive.
Annual meeting postponed
A few weeks ago, the company (the “Company”) declared that the 2022 Annual Meeting of Stockholders, scheduled for August 17, 2022, at 3 p.m., has been postponed because a quorum is expected to be absent.
Intellinetics completed the purchase of Yellow Folder, LLC on April 1, 2022. In the three months that concluded on June 30, 2022, this acquisition more than doubled our software as a service (SAAS) revenues, created positive cash flow, and roughly doubled our customer base in the K–12 education market. About $197,000 in net income was contributed by Yellow Folder for the three (and six) months ended June 30, 2022.
In addition to the acquisition, $8.7 million in equity and debt financing was completed.
For the six months ending June 30, 2022, SAAS revenues grew 127% overall, including the Yellow Folder purchase, and 30% organically.
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