Intrusion faces Nasdaq delisting; proposes reverse split, CEO injects $1M; reports $5M deal

INTRUSION INC

Telecom provider signed $5M multi-year Intrusion Shield deal; further revenue possible after initial projects.
Private offering of 4.4M shares at $0.60 closed Nov 2023, netting $2.4M for working capital.
CEO Tony Scott purchased $1.1M promissory note from Intrusion for $1.0M cash on Jan 2, 2024.
Nasdaq MVLS deficiency threatens listing; bid price below $1.00; reverse stock split (1:2 to 1:20) proposed for vote March 15, 2024.
SEC investigation, shareholder derivative suit, and class action lawsuit all resolved in 2023.

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