Intellinetics, Inc. - INLX STOCK NEWS

Intellinetics (NYSE American: INLX) announced the launch of its new Employee Onboarding Automation Solution at the Ohio Provider Resource Association (OPRA) Fall Conference on October 27, 2022. The solution enhances IntelliCloud Document Management Platform capabilities by replacing traditional paper forms with a digital format that streamlines onboarding processes. This innovation aims to boost data accuracy, improve employee retention, and expedite new hire productivity. The CEO emphasized the importance of automation amid a national workforce crisis, particularly affecting the I/DD community.

Intellinetics, Inc. (OTCQB: INLX) announced its common stock will transition to the NYSE American, effective September 9, 2022. This uplist represents a significant milestone, enhancing the company's visibility and liquidity in the investor community. President & CEO James F. DeSocio emphasized this move's potential to deliver greater long-term value for shareholders. Intellinetics offers digital transformation solutions, aiming to support highly regulated industries while enabling efficient document management and compliance.

Intellinetics, Inc. (OTCQB: INLX) announced the formation of a new K-12 Division dedicated to enhancing digital transformation in schools. This division will offer tailored solutions to help school districts transition from paper to digital records management. The initiative follows the acquisition of Yellow Folder, positioning Intellinetics as a leader in K-12 digital records management with over 530 school district clients nationwide. The division will focus on cloud-based records management, digital forms, document conversion services, and strategic partnerships to support K-12 educational needs.

Intellinetics, Inc. (OTCQB: INLX) has announced the cancellation of its 2022 Annual Meeting of Stockholders originally scheduled for August 17, 2022. This decision was made due to the anticipated lack of quorum, as fewer than the required majority of shares were returned by proxy. The company plans to reschedule this meeting, retaining a proxy solicitation firm to assist in ensuring adequate attendance and participation. Revised proxy materials will be distributed once new dates are confirmed.

Intellinetics, Inc. (OTCQB: INLX) reported Q2 2022 results, showcasing a 17% revenue increase to $3.42 million, driven by the Yellow Folder acquisition. Notably, SaaS revenue surged 208% compared to Q2 2021. However, the company recorded a net loss of $374,167 due to transaction costs and increased interest expenses, contrasting with a net income of $192,447 in the previous year. For the first half of 2022, total revenue grew 10% year-over-year, but net loss reached $394,293, influenced by a prior year's one-time gain from PPP loan forgiveness.

Intellinetics, Inc. (OTCQB: INLX) will hold a conference call on August 15, 2022, at 4:30 p.m. ET to discuss its second-quarter 2022 financial results. Interested parties can join by calling +1 929 205 6099 with the passcode 830 2525 3406#. A replay will be accessible two hours post-call until August 31, 2022, via the company's website. Intellinetics specializes in document management solutions and supports various industries in their digital transformation endeavors. Investors are encouraged to monitor the company's IR website for material updates.

Intellinetics, Inc. (OTCQB: INLX) announced that its Annual Meeting of Stockholders on July 19, 2022, was adjourned due to a lack of quorum, as only 38% of shares entitled to vote were represented. The meeting is rescheduled for August 17, 2022, to allow more stockholders to participate. Only shareholders of record as of April 27, 2022, are eligible to vote. The company urges these stockholders to vote by August 16, 2022. Important details and proxy materials can be accessed via the company's website and SEC filings.

Intellinetics, Inc. (OTCQB: INLX) announced that its 2022 Annual Meeting of Stockholders, held on June 22, 2022, was adjourned due to a lack of quorum, as fewer than the required majority of shares were present. The meeting is rescheduled for July 19, 2022, at 3 p.m. at the company’s Columbus, Ohio office. As of the adjournment, approximately 29% of eligible shares had submitted proxies. Stockholders who haven't voted are urged to do so by July 18, 2022. If quorum is not met again, further adjournments may incur additional costs for the company.

Intellinetics, Inc. (OTCQB: INLX) reported its first quarter 2022 financial results, revealing a 3% revenue increase year-over-year to $2,703,512. Software as a Service revenues soared 33% compared to 2021. However, the company faced a net loss of $20,126, contrasting with a net income of $842,772 in the same period last year, largely due to transaction costs of $70,051 and a previous PPP loan forgiveness of $845,083. Adjusted EBITDA rose 18% to $421,300. The recent acquisition of Yellow Folder is expected to enhance revenue and client base significantly.