NEW YORK- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company"), A Fintech and Greentech advisory services company, is pleased to announce it has added Dr. Dan Lavi as a strategic advisor.

Mr. Lavi is highly-skilled in several areas of progressive technology and innovation, having held senior positions in the fields of Physics, Cybersecurity, Greentech, Web and Mobile technologies. He holds several undergraduate degrees, two Masters' degrees, and a PhD in Physics. Leading expert, Mr. Lavi, is a former Physics professor, and lecturer on Cybersecurity and secure Android application development at various colleges and universities in Israel. Mr. Lavi will be based in Israel and New York, where he will oversee the various emerging technologies across the Ideanomics group, including the evaluation and implementation of Blockchain, Artificial Intelligence, Cybersecurity and green technologies.

"Dan brings a level of experience and vision that is unmatched," said Dr. Bruno Wu. "Dan is one of the leading cybersecurity experts in the world, and Ideanomics is pleased to welcome him to our team. Dan is joining us at a very important time for the company, as we strategically respond to the industry with leading technology infrastructure."

"It's an exciting time for Ideanomics. I look forward to working with the various teams throughout the organization, as we identify, develop, and implement market-leading technologies," said Dr. Lavi. "Dr. Wu's vision is powerful and motivating as he drives technology and innovation into business, and I am very excited to be a part of that."

NEW YORK: Ideanomics Inc. (Nasdaq: IDEX) has announced its 2019 Q2 operating results for the period ended June 30, 2019 (a full copy of the Company's quarterly report on Form 10-Q will be available.

Ideanomics Second Quarter 2019 Operating Results

Revenue for the second quarter ended June 30, 2019 was $14.5 million as compared to $133.0 million for the same period in 2018, a decrease of approximately $118.5 million, or approximately 89%. The decrease was mainly due to a change to our business focus from logistics management to digital business consulting services. Our business strategy and the primary goal for entering the crude oil and electronic trading businesses was to learn about the needs of buyers and sellers in these industries that rely heavily on the shipment of goods. Our activities in the crude oil trading and electronic trading business have been successful in various aspects in 2018. For strategic reasons we have now phased out of our crude oil trading business and electronics trading business so that we can work towards enabling the application of our Fintech Ecosystem for other useful cases that we have identified. In March 2019, the Company entered into an agreement with GT Dollar, one of our minority shareholders and strategic investors, whereby the Company agreed to provide digital asset management services. The Company recognized $26.6 million in the first quarter of 2019, and the remaining revenue of $14.1 million in the second quarter of 2019 as all performance obligations associated with the development of the master plan from the agreement have been satisfied.

Cost of revenues was $0.7 million for the quarter ended June 30, 2019, as compared to $131.4 million for the quarter ended June 30, 2018, a decrease of approximately $130.7 million, or 99%. From a comparability perspective, the cost of revenue during 2018 is not necessarily indicative of the new FinTech business in 2019. The cost of revenue during 2018 was primarily associated with the logistics management business (oil trading and electronics trading), which traditionally has a very high cost of revenue and low gross margin, while the cost of revenue during the second quarter of 2019 is primarily associated with our digital asset management services as part of our new FinTech services business. Majority of the costs associated with the development of the master plan services have already been incurred in 2018. In 2018, due to the uncertainty associated with the future economic benefits when such costs were incurred, the Company expensed those costs during 2018.

Our gross profit for the quarter ended June 30, 2019 was approximately $13.7 million, as compared to $1.5 million during the same period in 2018, representing an increase of 796%. The gross profit ratio for the quarter ended June 30, 2019 was 95%, while it was 1% during the same period in 2018. The increase was mainly due to: 1) the Company recorded service revenue from digital asset management services in 2019 and 2) the low cost of revenue associated with our digital asset management services, which resulted in higher gross profit margin of second quarter in 2019 compared to the low gross profit margin from the logistics management business in 2018. The reasons for high gross margin in the digital asset management services provided to GT Dollar are as follows:

• we have invested in our technical development knowledge in digital asset management since early 2018;

• with our uncapitalized assets, such as know how and expertise in our management team to develop the appropriate strategy to provide the digital asset management service which has delivered a lot of values to our client, GT Dollar;

• there are no significant incremental costs, other than immaterial labor expenses associated with delivering on the master plan.

Selling, general and administrative expenses for the quarter ended June 30, 2019 was $6.5 million as compared to $8.8 million for the same period in 2018, a decrease of approximately $2.3 million or 26%. Majority of the decrease is due to a decrease in salary and employee benefits expenses, and lower sales and marketing expense for Wecast services.

Professional fees for the quarter ended June 30, 2019 was $1.2 million as compared to $0.6 million for the same period in 2018, an increase of approximately $0.6 million. The increase was related to an increase in legal, valuation, audit and tax as well as fees associated with continuing to build out our technology ecosystem and establishing strategic partnerships and M&A activity as part of this technology ecosystem.

Net earnings per share for the quarter ended June 30, 2019 was $0.05 per share, as compared to a loss per share for the same period in 2018 of $(0.12)per share. As of June 30, 2019, the company had cash of $1.1 million, total assets of $149.4 million, total liabilities of $61.2 million and total equity of $87.0 million.

Over the past year Ideanomics has been able to transform its legacy business, to be a prominent player for fintech services and asset digitization through establishing a global compliant network of financial technology, user community, and digital asset production. Our team of seasoned digital strategists and technology leaders have positioned the Company towards a path of unlocking FinTech services related revenue during 2019. We have several signed customer revenue deals in our pipeline, and our product and tech teams are diligently building out these new digital products to continue to unlock this revenue and position the company towards a strong 2019.

NEW YORK: Ideanomics, Inc. (NASDAQ: IDEX) ("IDEX" or the "Company"), announced the appointment of Mr. Conor McCarthy as Chief Financial Officer ("CFO"), effective immediately. As CFO, Mr. McCarthy will oversee Ideanomics global financial operations, including financial management, treasury, tax, budgeting, financial planning, reporting, and compliance.

"We are delighted to have Conor join Ideanomics as our new CFO," said Alf Poor, CEO of Ideanomics. "At such an important phase for the company, we were looking for a CFO with experience in the FinTech industry, as well as someone who had the ideal background which is a mix of public company and high-growth start-up experience. Conor brings a blend of operational and strategic experience to our finance operations, and his extensive experience with financial services firms will prove invaluable to our planning and execution. We are extremely pleased to have Conor join us during an exciting growth phase for the company".

Mr. McCarthy brings over 30 years of experience to the CFO role in areas such as corporate strategy and corporate finance including capital raising and M&A. Having started his career as an auditor with KPMG in Ireland, Mr. McCarthy moved into financial services, working as CFO, Treasurer, and other executive finance roles, with trading and brokerage firms, as well as high growth FinTech partners supporting the financial services industry. Most recently, Mr. McCarthy was CFO for OS33 a private equity backed FinTech SaaS platform for compliance and productivity enablement for the wealth management industry with 200 employees. Previous positions include CFO roles with Intent, Convergex Group, and 9 years as CFO of the Americas for GFI Group, Inc. a NYSE-listed FinTech wholesale money broker with revenues of almost $1Billion (now part of BGC Partners).

"I am excited to join this dynamic team at Ideanomics," said Coner McCarthy. "Ideanomics combines the best of technology with top global talent, growth potential, and top collaborative working relationships to offer the next generation of FinTech services."

NEW YORK: Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company"), has announced an agreement with Dasheng Licheng (Beijing) Financial Leasing Co., Ltd. to provide an innovative lease financing program for AAA+-rated state-owned entities (SOE's) and other enterprise fleet operators.

The Electric Vehicle (EV) commercial sector differs from traditional vehicle lease financing, which has been built on 100-plus years of residual values of combustion engine vehicles. The battery and battery storage in electric vehicles comprise a much higher percentage of the vehicle's overall value, both new and used, requiring a new structure of financing to avoid imposing increased upfront deposits on fleet operators. The agreement has been designed with a consortium of insurance companies as investing partners in order to make financing programs flexible enough to meet the needs of the burgeoning EV market.

"This is a very important agreement for our MEG division, and potentially a barrier to entry in the market for the lease financing of large-scale commercial EV fleets," said Alf Poor, CEO of Ideanomics. "By effectively plugging the gap between traditional lease financing and the financing solutions required by the EV industry, through the support of a consortium of China-based insurance companies as investors; we have engineered an innovative solution to meet market demand at scale. We anticipate coming to market in Q1, for those SOE's and enterprise customers rated as AAA or better, with the benefits seen from Q2 of 2020 forward. We're excited to be working with Dasheng Licheng's team on rolling this program out for the benefit of our commercial EV fleet customers and will be exploring ways to bring this type of solution to our other markets outside of China."

The insurance company partners include China Life, China Property Insurance, Pacific Insurance, Taiping Insurance, Ping An Insurance, and Urtrust Insurance. These partners have committed up to 100 Billion RMB for the Inner Mongolia heavy duty trucks replacement project.

Ideanomics' MEG division operates in 4 key segments of commercial EV, which are Heavy Duty commercial, for closed area environments, such as Mining, Steel Mills, Airports, and Seaports, Light commercial last-mile logistics vehicles, Buses and Coaches, and Taxis.

NEW YORK - Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") is pleased to announce its Mobile Energy Global (MEG) division's sales activities for the month of September and Q3 2020. For the period starting September 1, 2020, through September 30, 2020, MEG delivered a total of 423 units. For Q3 2020, the period starting July 1, 2020, through September 30, 2020, MEG delivered a total of 626 units. The Company also invoiced an additional 440 units in Q3, which are pending expected delivery.

"We are very pleased that our MEG business experienced sequential growth, month over month, throughout Q3, and the 440 units pending delivery gets Q4 off to a strong start. This growth, fueled by a combination of previously announced deals and new deal origination, along with improvements in our operational efficiency, helps us achieve our goals for 2020 and sets the stage for growth at scale going into 2021," said Alf Poor, CEO of Ideanomics.

NEW YORK -- Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") is pleased to announced that Ideanomics and portfolio companies WAVE and Solectrac will be presenting at the following conferences in March.


Global Transmission Conference

Representative: Michael Masquelier (WAVE)

Date: March 4, 2021

Time: 1:15 pm -1:55 pm EST

Register using this link or copy/paste link below and select "Wave/Ideanomics" to receive 30% off the registration cost.

https://web.cvent.com/event/b9359d02-4de1-4fea-886c-a211117967d0/regProcessStep1


FORCE for Knowledge: Food Tech 101

Representative: Steve Heckeroth (Solectrac)

Date: March 10, 2021

Time: 11:00 am -12:00 pm EST

Register using this link or copy/paste link below.

https://forcewealth.com/portfolio-items/food-tech-101/


33rd Annual ROTH Conference: EV Panel

Representative: Alf Poor (Ideanomics)

Date: March 17, 2021

Time: Please check our events page for updates.

https://investors.ideanomics.com/events-webcasts


Alf Poor, Ideanomics CEO will also host 1x1 meetings via conference calls throughout the ROTH conference on March 15-17, 2021.


About Ideanomics

Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. Our Ideanomics Mobility division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility and Ideanomics Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.


The company is headquartered in New York, NY, with offices in Beijing, Hangzhou, and Qingdao, and operations in the U.S., China, Ukraine, and Malaysia.


Safe Harbor Statement

This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties, and include statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed under the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

SANTA ROSA: Solectrac, Inc. (Solectrac), a portfolio company of Ideanomics (NASDAQ: IDEX) ("Ideanomics" or the "Company") announces new reservation campaign for Solectrac's all-electric tractors.


As demand has grown quickly for Solectrac's all-electric tractors, customers can now reserve their place in the productions line with as little as a $1000 deposit.

"We've decided to decrease the initial deposit to allow customers to express their interest and intent. This is good for our customers and good for our production line," said Solectrac CEO/Founder, Steve Heckeroth.

Solectrac Inc., North America's first manufacturer and distributor of quiet, zero emission electric tractors has since grown their manufacturing capabilities to ramp up production and meet demand, while pursuing their long-term goal to reduce carbon output in farming and utility work.

Find out which tractor is right for you with Solectrac's "Tractor Quiz"


According to Research And Markets, the global agricultural tractor market is expected to grow at a CAGR of 7.7% through 2027. The market size for less than 40 HP tractors is estimated to reach USD 23.41 billion by 2025. Solectrac's initial three models focus on the under 40 HP market and have a 70 HP underdevelopment to address the broad needs of the market. Its tractors are specifically designed to serve the needs of community-based farms, vineyards, orchards, equestrian arenas, greenhouses, and hobby farms.


Solectrac is taking reservations for its 40 HP-equivalent eUtility tractor and the 4-wheel drive 30 HP-equivalent compact electric tractor (CET). Both tractors are built to outperform their diesel counterparts by eliminating exhaust and noise and with the benefit of instant torque at low RPM. Solectrac tractors accommodate existing implements, have a low noise level, and the absence of exhaust makes electric tractors desirable in any environment by improving workers' health and safety. The additional battery weight benefits the tractor for added traction and stability.


Solectrac's electric tractors can be charged either from the utility grid or from renewable energy, like solar and wind. Electric tractors are around 5 times more efficient than its diesel alternatives and Solectrac tractors only have one moving part in the motor. Consequently, maintenance and fuel cost over the lifetime of the electric tractor is estimated to be one-third that of a diesel tractor.

"We are excited to see the continued interest in our all-electric tractors," said Ideanomics CEO, Alf Poor. "This new reservation system allows Solectrac to significantly decrease the initial cost of ownership for its tractors in high demand. The 2021 lineup of all electric tractors continues to showcase the best of Solectrac's power, efficiency, and connectivity for the growing Agtech industry"

Reservations are open now on Solectrac's website www.solectrac.com.

About Solectrac, Inc.
Solectrac, Inc., located in Northern California, has developed 100% battery powered, all electric tractors for agriculture and utility operations. Solectrac tractors provide an opportunity for farmers around the world to power their tractors by using the sun, wind, and other clean renewable sources of energy. Solectrac's mission is to offer farmers independence from the pollution, infrastructure, and price volatility associated with fossil fuels.

About Ideanomics
Ideanomics is a global company focused on the convergence of financial services and industries experiencing technological disruption. Our Ideanomics Mobility division is a service provider which facilitates the adoption of electric vehicles by commercial fleet operators through offering vehicle procurement, finance and leasing, and energy management solutions under our innovative sales to financing to charging (S2F2C) business model. Ideanomics Capital is focused on disruptive fintech solutions for the financial services industry. Together, Ideanomics Mobility and Ideanomics Capital provide our global customers and partners with leading technologies and services designed to improve transparency, efficiency, and accountability, and our shareholders with the opportunity to participate in high-potential, growth industries.

The company is headquartered in New York, NY, with offices in Beijing, Hangzhou, and Qingdao, and operations in the U.S., China, Ukraine, and Malaysia.

Safe Harbor Statement
This press release contains certain statements that may include "forward looking statements". All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties, and include statements regarding our intention to transition our business model to become a next-generation financial technology company, our business strategy and planned product offerings, our intention to phase out our oil trading and consumer electronics businesses, and potential future financial results. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of risks and uncertainties, such as risks related to: our ability to continue as a going concern; our ability to raise additional financing to meet our business requirements; the transformation of our business model; fluctuations in our operating results; strain to our personnel management, financial systems and other resources as we grow our business; our ability to attract and retain key employees and senior management; competitive pressure; our international operations; and other risks and uncertainties disclosed under the sections entitled "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and similar disclosures in subsequent reports filed with the SEC, which are available on the SEC website at www.sec.gov. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.