Infrax Systems Inc (IFXY)

[ForReal]

Another curious bit of information. I have gone back thru the filings to the beginning of Ifrax as a company. What I find so curious is that Infrax acquired a 70% interest in Lockwood Technology in 2011. However, there does not seem to be any revenue coming into Infrax from Lockwood. That can only mean one of two things. Either Lockwood does not generate any revenue or revenue generated by Lockwood is being diverted to somewhere else.

If it is the first instance, then I can not understand the hoorah over even owning or spinning off of Lockwood shares to IFXY share holders.

If it is a matter of the second instance, where are Lockwood revenues going? In one of the 8K's filed by the company, with regard to the value of Lockwood spin off shares, it was estimated there worth to be .20 to $1.00 per share. Those values can hardly be based on a company with little or no revenue.

The 10Q's filed by INFX do not show much in the way of revenue. It appears they have survived mostly on the financial loans from Sam. Awful generous of him I would say. Unless he is lending money he gets from Lockwood to IFXY. I guess that would depend on how the Lockwood deal was structured to begin with. But, the very most Sam could own of Lockwood would be 30%, as IFXY owns 70%. And revenues would be proportionately shared, if all is on the up and up.

As is often the case, there is just not enough information disseminated in the public filings to give anyone a good picture of what is going on. But, even with the small amount of available info, this picture does not make any sense. And, foolish me, I thought those filings were for the exact purpose of making investors aware of what they are investing in.

The more I delve into this, the ,ore curious it gets.