secwatch.observer — SEC 8-K summary
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Issuer:     INTRUSION INC (INTZ)
CIK:        0000736012
Form:       8-K
Filed at:   2024-01-31T23:59:59+00:00
Accession:  0001683168-24-000566
Event type: regulatory
Sentiment:  negative
Materiality: 0.85
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/736012/000168316824000566/0001683168-24-000566-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/736012/000168316824000566/intrusion_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-000566

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer