NEW YORK, Aug. 18, 2015 /PRNewswire/ -- PRNewswire - IDI Inc. (NYSE-MKT: IDI) an information solutions provider focused on the data-fusion market has recently been subject to negative publicity and as a result has seen its shares fall from a 52 – week high to a 52 – week low. The news came as a combination of poor Q2 financial results and the filing of a lawsuit claiming the company has been partaking in illegal market activity.
The company reported revenue of $1.0 million and $2.3 million from data fusion operations for the three and six months ended June 30, 2015, respectively. The company earned additional revenue of $0.2 million from its discontinued China operations (representing revenue from March 22, 2015 on). IDI Inc. reported a net loss of $4.0 million (including $1.9 million of non-cash share-based compensation expenses) from data fusion operations and $41.5 million (including $40.2 million of non-cash charges) from discontinued China operations for the three months ended June 30, 2015. Additionally, the company announced a recent $10 million financing that has strengthened its cash position beyond necessity and will likely allow for expansion, and further revenue growth and bottom line improvement.
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