NEW YORK, Aug. 22, 2023 /PRNewswire/ — INX Limited INXDINXINXDF, a broker-dealer and inter-dealer broker, today announced the calculation of its cumulative Adjusted Operating Cash Flow as of June 30, 2023 and the pro rata portion of the Distributable Amount per INX Token.
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(U.S. Dollars in thousands except for the number of INX Tokens) |
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Cumulative Adjusted Operating Cash Flow as of December 31, 2022 |
(56,679) |
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Less: Net cash used in operating activities in the six months ended June 30, 2023 |
(6,597) |
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Plus: Proceeds from sale of INX Tokens during the six months ended June 30, 2023 |
– |
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Less: Proceeds from initial sale of INX Tokens during the six months ended June 30, 2023 |
– |
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Cumulative Adjusted Operating Cash Flow as of June 30, 2023 |
(63,276) |
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Distributable Amount |
0 |
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Outstanding INX Tokens (as of August 21, 2023) |
136,284,318 |
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Indicative Pro Rata Portion of the Distributable Amount per INX Token |
0 |
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These calculations are based on unaudited quarterly results of operations of the INX Limited and its subsidiaries.
Subject to the conditions described in the INX Token Purchase Agreement, commencing in calendar year 2021, each INX Token held by parties other than the Company, shall entitle its holder to receive a pro rata portion of an aggregate amount which equals 40% of INX Limited’s cumulative Adjusted Operating Cash Flow, net of Adjusted Operating Cash Flows that have already formed a basis for a prior distribution (such amount, the “Distributable Amount”).
The distribution to holders of the INX Tokens is based on an annual calculation of our cumulative Adjusted Operating Cash Flow as of December 31 and includes the resulting the pro rata portion of the Distributable Amount per INX Token. The calculation of the cumulative Adjusted Operating Cash Flow is provided at the same time that we file our annual report containing our audited financial statements. We publicly disclose the final calculations, including the pro rata portion of the Distributable Amount per INX Token, by…
The post INX Reports Q2 2023 Cumulative Adjusted Operating Cash Flow and Pro Rata Portion… – Press Release appeared first on CaymanMama.com.
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