# EDGAR Filing Document

**Accession Number:** 0000837852
**File Stem:** 0001104659-23-038557
**Filing Date:** 2023-3
**Character Count:** 17209
**Document Hash:** 3db6ffb1214e0167f84c81a7116fc23b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-038557.hdr.sgml**: 20230330

**ACCESSION NUMBER**: 0001104659-23-038557

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20230329

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230330

**DATE AS OF CHANGE**: 20230329

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** IDEANOMICS, INC.
- **CENTRAL INDEX KEY:** 0000837852
- **STANDARD INDUSTRIAL CLASSIFICATION:** MOTOR VEHICLES & PASSENGER CAR BODIES [3711]
- **IRS NUMBER:** 201777837
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-35561
- **FILM NUMBER:** 23776985

**BUSINESS ADDRESS:**
- **STREET 1:** 1441 BROADWAY
- **STREET 2:** 5TH FLOOR, SUITE#5116
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 212-206-1216

**MAIL ADDRESS:**
- **STREET 1:** 1441 BROADWAY
- **STREET 2:** 5TH FLOOR, SUITE#5116
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Seven Stars Cloud Group, Inc.
- **DATE OF NAME CHANGE:** 20170811

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WECAST NETWORK, INC.
- **DATE OF NAME CHANGE:** 20161114

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Wecast Network, Inc.
- **DATE OF NAME CHANGE:** 20161114

?xml version="1.0" encoding="utf-8"?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): March 29, 2023**

**IDEANOMICS, INC.**

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Nevada** | **20-1778374** |
| (State or other jurisdiction of | (IRS Employer |
| incorporation) | Identification No.) |

---

**001-35561**

(Commission File Number)

**1441 Broadway, Suite 5116, New York, NY 10018**

(Address of principal executive offices) (Zip Code)

**212-206-1216**

(Registrant's telephone number, including area code)

**N/A**

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading symbol(s) | Name of each exchange on which registered |
| **Common stock, $0.001 par value per share** | **IDEX** | **The Nasdaq Stock Market** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

**Item 7.01** **Regulation FD Disclosure.**

Ideanomics, Inc., a Nevada corporation (the "Company") is filing this Current Report on Form 8-K for the purpose of furnishing certain consolidated financial information of its subsidiary, Timios Holdings Corp., and its consolidated subsidiaries as of, and for the years ended, December 31, 2022, 2021 and 2020, attached as Exhibit 99.1 to this Current Report on Form 8-K and hereby incorporated by reference herein.

 

*In accordance with General Instruction B.2 of Form 8-K, the information in this Item 7.01 of this Current Report on Form 8-K, including the information set forth in Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.* 

**Cautionary Statements Regarding the Timios Financial Information**

 ****

The Company cautions investors and potential investors not to place undue reliance upon the information contained in this Report, including Exhibit 99.1 hereto, which was not prepared for the purpose of providing the basis for an investment decision relating to any of the securities of the Company. The information provided is limited in scope to only one of the Company's businesses, and is being furnished solely for the purpose of complying with Regulation FD of the Securities and Exchange Commission. This information is unaudited and is not presented in accordance with accounting principles generally accepted in the United States ("<u>GAAP</u>"), does not include the explanatory notes that would be required by GAAP, and may exclude other items required by GAAP, such as certain reclassifications, non-cash items, accruals, valuations and disclosures. There can be no assurance that, from the perspective of an investor or potential investor in the Company's securities, information contained in this Report, including Exhibit 99.1 hereto, is complete. The information contained and incorporated by reference herein should be read together with the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and subsequent Quarterly Reports on Form 10-Q (in each case including the financial statements and notes thereto included therein) and subsequent Current Reports on Form 8-K, as filed with the Securities and Exchange Commission and available at <u>www.sec.gov</u>. The Company undertakes no duty or obligation to publicly update or revise the information contained in this Report, except as required by law. Results and information set forth herein should not be viewed as indicative of future results.

**Item 9.01 Financial Statements and Exhibits.**

(d) *<u>Exhibits</u>*.

---

| | |
|:---|:---|
| **Exhibit<br> Number** | **Description** |
| [99.1](tm2310975d1_ex99-1.htm) | [Consolidated Financial Information of Timios Holdings Corp. and its Subsidiaries for the Years Ended December 31, 2022, 2021 and 2020](tm2310975d1_ex99-1.htm) |
| 104 | Cover page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **Ideanomics, Inc.** | **Ideanomics, Inc.** |
| Date: March 29, 2023 | By: | */s/ Alfred P. Poor* |
|  |  | Alfred P. Poor |
|  |  | Chief Executive Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

**Timios Holdings Corp.**

**Consolidated Financial Information as of and for the Years**

**Ended December 31, 2022, 2021 and 2020**

**Statement of Operations**

**(Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
|  | **Years Ended December 31,** | **Years Ended December 31,** | **Years Ended December 31,** |
|  | **2020** | **2021** | **2022** |
| **Revenues** |  |  |  |
| Title revenue, net | 40146613 | 33892207 | 16029524 |
| Closing revenue | 35750578 | 36746084 | 15255240 |
| Appraisal revenue | 4247375 | 3334431 | 938149 |
| Total revenues | 80144566 | 73972722 | 32222912 |
| **Operating Expenses** |  |  |  |
| Agent expenses | 32585974 | 24953569 | 12277071 |
| Personnel costs | 30162412 | 33831361 | 21564795 |
| Other operating expenses | 4861415 | 6293155 | 5661277 |
| Sales and marketing | 717991 | 891762 | 729399 |
| Depreciation and amortization | 258098 | 570870 | 1002880 |
| Total operating expenses | 68585890 | 66540717 | 41235422 |
| **Operating Income** | 11558676 | 7432005 | -9012510 |
| **Other Expense** |  |  |  |
| Interest income | 13869 |  | 435 |
| Other expense, net | -79296 | -545066 | 3210769 |
| Total other expense | -65427 | -545066 | 3211204 |
| Income before provision for income taxes | 11493249 | 6886939 | -5801305 |
| Provision for income taxes | 2532550 | 1759118 | 367012 |
| Net income | 8960699 | 5127821 | -6168318 |

---

**Timios Holdings Corp.**

**Consolidated Financial Information as of and for the Years**

**Ended December 31, 2022, 2021 and 2020**

**Balance Sheet**

**(Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
|  | **December 31, <br> 2020** | **December 31, <br> 2021** | **December 31, <br> 2022** |
| **ASSETS** |  |  |  |
| **Current Assets** |  |  |  |
| Cash and cash equivalents | $7196722 | $8805814 | $2684806 |
| Accounts receivable, trade and non-trade, net | 157753 | 149157 | 3018396 |
| Notes receivable | 0 |  | 0 |
| Prepaid expenses and other current assets | 604568 | 730537 | 916119 |
| Total Current Assets | 7959043 | 9685508 | 6619321 |
| **Noncurrent Assets** |  |  |  |
| Property and equipment, net | 427665 | 726562 | 326764 |
| Deposits | 98382 | 114155 | 107816 |
| Notes receivable Non Current | 56288 | 66207 | 60440 |
| Intangible assets, net | 392476 | 1962800 | 1148181 |
| Deferred tax asset | 395859 | 71036 | 171655 |
|  |  |  | 0 |
| Long Term Investment |  |  | 2783975 |
| Right of use asset |  | 2137297 | 1330720 |
| Title plant | 127742 | 127742 | 127742 |
| Goodwill | 1839832 | 1839832 | 1885354 |
| Total assets | $11297287 | $16731139 | $14561969 |
| **LIABILITIES AND STOCKHOLDERS' EQUITY** |  |  |  |
| **Current Liabilities** |  |  |  |
| Accounts payable | 2415656 | 1787746 | 2458046 |
| Accrued expenses | 3068868 | 1542158 | 658290 |
| Notes payable |  |  | 1455457 |
| Notes Payable Affiliated Party |  |  | 2933716 |
| Income taxes payable | 10814 | 326714 | 901291 |
| Operating lease liability, current |  | 669751 | 629826 |
| **Total Current Liabilities** | 5495338 | 4326369 | 9036626 |
| Operating lease liability, net of current portion |  | 1475000 | 926157 |
| **Total Liabilities** | 5495338 | 5801369 | 9962783 |
| **Stockholders' Equity** |  |  |  |
| Preferred stock, $0.00001 par value, 5,000,000 shares authorized, no shares issued |  |  |  |
| Common stock, $0.0000081 par value, 10,000,000 shares authorized, 9,543,157 issued | 81 | 81 | 81 |
|  |  |  | 0 |
| Additional paid-in capital | 76565337 | 76565337 | 76562787 |
| Accumulated deficit | (70763469) | (65635648) | (71963682) |
| **Total Stockholders' Equity** | 5801949 | 10929770 | 4599186 |
| **Total Liabilities and Stockholders' Equity** | $11297287 | $16731139 | $14561969 |

---

Note 1: The above consolidated financial information of Timios Holding Corp. and subsidiaries has been prepared for purposes of the preparation of the consolidated financial statements of Ideanomics, Inc. It omits all disclosures required by generally accepted accounting principles in the United States of America.

**Timios Holdings Corp.**

**Consolidated Financial Information as of and for the Years**

**Ended December 31, 2022, 2021 and 2020**

**Statement of Cash Flows**

**(Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
|  | **Year Ended <br> December 31, <br> 2020** | **Year Ended <br> December 31, <br> 2021** | **Year Ended <br> December 31, <br> 2022** |
| **CASH FLOWS FROM OPERATING ACTIVITIES** |  |  |  |
| Net income | 8960699 | 5127821 | -6168318 |
| Adjustments to reconcile net income to net |  |  |  |
| cash provided by operating activities: |  |  |  |
| Depreciation | 79496 | 188954 | 425054 |
| Loss on disposal of property and equipment |  | 6051 | 99009 |
| Loss on disposal of right of use assets |  |  | 301975 |
| Loss from equity method investment |  |  | 291952 |
| Amortization | 178602 | 381916 | 814619 |
| Deferred taxes | -31817 | 324823 | 2200501 |
| Changes in assets and liabilities: |  |  |  |
| Accounts receivable | 462871 | 17165 | -2869239 |
| Notes receivable |  | -27057 | 5767 |
| Deposits |  | -15773 | 6339 |
| Prepaid expenses and other current assets | -23128 | -125969 | -185582 |
| Right of use asset |  | -2137297 | 504601 |
| Accounts payable | 843898 | -627910 | -383826 |
| Accrued expenses | 1510677 | -1526710 | -1391836 |
| Income taxes payable | -700758 | 315900 | -326714 |
| Operating lease liability |  | 2144751 | -588768 |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 11280540 | 4046665 | -7264467 |
| **CASH FLOWS FROM INVESTING ACTIVITIES:** |  |  |  |
| Purchase of property and equipment | -398536 | -911624 | -124266 |
| Purchase of equity method investment |  |  | -3075927 |
| Purchase of Subsidiary |  |  | -45522 |
| Purchase of intangible assets - software | -367530 | -1534518 |  |
| NET CASH USED IN INVESTING ACTIVITIES | -766066 | -2446142 | -3245715 |
| **CASH FLOWS FROM FINANCING ACTIVITIES:** |  |  |  |
| Receipt of payments from notes receivable - related party | 1110000 | 8569 |  |
| Proceeds from line of credit |  |  | 1800000 |
| Repayments of line of credit |  |  | -800000 |
| Proceeds from long-term debt |  |  | 700783 |
| Repayment of long-term debt |  |  | -245326 |
| Receipt of payments from notes receivable - other | 27406 |  |  |
| Proceeds from related party |  |  | 2933716 |
| Dividends paid | -10974631 |  | 0 |
| NET CASH PROVIDED BY FINANCING ACTIVITIES | -9837225 | 8569 | 4389173 |
| Proceeds |  |  |  |
| NET INCREASE IN CASH AND CASH EQUIVALENTS | 677249 | 1609092 | -6121009 |
| CASH AND CASH EQUIVALENTS, BEGINNING OF THE YEAR | 6519473 | 7196722 | 8805814 |
| CASH AND CASH EQUIVALENTS, END OF THE YEAR | 7196722 | 8805814 | 2684805 |

---

Note 1: The above consolidated financial information of Timios Holding Corp. and subsidiaries has been prepared for purposes of the preparation of the consolidated financial statements of Ideanomics, Inc. It omits all disclosures required by generally accepted accounting principles in the United States of America.

**Timios Holdings Corp.**

**Consolidated Financial Information as of and for the Years**

**Ended December 31, 2022, 2021 and 2020**

**Statement of Stockholders' Equity**

**(Unaudited)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | **Treasury Stock** | **Treasury Stock** | | | |
|  | **Shares** | **Value** | **Shares** | **Value** | **Additional**<br>**Paid-in Capital** | **Accumulated**<br>**Deficit** |<br>**Total** |
| **Balance at <br> January 1, 2020** | 9568157 | $81 | $25000 | $(50000) | $76615337 | $(68749537) | $7815881 |
| Retirement of treasury stock | (25000) |  | (25000) | 50000 | (50000) |  |  |
| Dividends declared and paid |  |  |  |  |  | (10974631) | (10974631) |
| Net income |  |  |  |  |  | 8960699 | 8960699 |
| **Balance at December 31, 2020** | 9543157 | $81 | $- | $- | $76565337 | $(70763469) | $5801949 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | **Treasury Stock** | **Treasury Stock** | | | |
|  | **Shares** | **Value** | **Shares** | **Value** | **Additional**<br>**Paid-in Capital** | **Accumulated**<br>**Deficit** |<br>**Total** |
| **Balance at <br> January 1, 2021** | 9543157 | $81 |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $76565337 | $(70763469) | $5801949 |
| Retirement of treasury stock |  |  |  |  |  |  |  |
| Dividends declared and paid |  |  |  |  |  |  |  |
| Net income |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |  |  | 5127821 | 5127821 |
| **Balance at December 31, 2021** | 9543157 | $81 | $- | $- | $76565337 | $(65635648) | $10929770 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | **Treasury Stock** | **Treasury Stock** | | | |
|  | **Shares** | **Value** | **Shares** | **Value** | **Additional**<br>**Paid-in Capital** | **Accumulated**<br>**Deficit** |<br>**Total** |
| **Balance at <br> January 1, 2022** | 9543157 | $81 |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $76565337 | $(65635648) | $10929770 |
| Retirement of treasury stock |  |  |  |  |  |  |  |
| Dividends declared and paid |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |  |  |  |  |
| Net income |  |  |  |  |  | (6168318) | $(6168318) |
| **Balance at December 31, 2022** | 9543157 | $81 | $- | $- | $76565337 | $(71803966) | $4761452 |

---

Note 1: The above consolidated financial information of Timios Holding Corp. and subsidiaries has been prepared for purposes of the preparation of the consolidated financial statements of Ideanomics, Inc. It omits all disclosures required by generally accepted accounting principles in the United States of America.