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I like the acquisition comment. Would be great if iFinix can acquire a profitable company with revenue.
IMO, the conference call is going very well so far.
Ben stated the INIX DTCC application was filed and the company is just waiting for the approval to come back. Once that happens, INIX will be back in the DTCC. Hopefully, that will resolve the issues with some of the brokers.
Ben stated he will update shareholders when the DTCC has accepted INIX back in.
Ben stated that the increased AS is for Merger & Acquisition purposes, not dilution to raise cash. Hmmmm
Go INIX
I think its supposed to start at 4:05pm
It is just starting now.
INIX boardmarks are increasing. New eyes on this.
Got it, thanks. Let's hope INIX does get hot in a hurry.
I can't find anything about INIX on Guru's board.
Sure would be nice to see .0004/.0005 come up before the CC.
I agree with you that INIX is way undervalued. Any type of positive news should send the sp above .001 again, IMO.
Well, over 90 million shares traded a few days ago and the stock closed down 75% it depends on whether people are finally deciding to buy INIX rather than sell it.
I submitted 15 questions to iFinix email address for the conference call.
I agree. The fact the company released the financials on time, are holding the conference call during Q1 (although on the last day) bodes well for the shareholders. Who knows, perhaps 2011 will be a highly profitable year for iFinix. IMO, the stock is way undervalued. As others have posted, the Q1 financials are what will tell the story.
What's he saying in his text, that he thinks the pps will go to .001 tomorrow or is he just hoping it gets back to .001?
If you hold those 4 million until sp hits .02 again, you'll be running naked in the street with a lampshade on your head. LOL
I agree that most of the losses are due to RealTime. The company was paying the Data Center $20K a month for feeds and taking nothing in from subscriptions.
I do not agree that the selling of the past few days was the company. I strongly believe it was the Magna Group dumping all of their Rule 504 shares. If they are finished dumping their shares, then the stock should start to rise. The stock is still extremely undervalued. Any type of positive news and this sp could really take off.
Welcome to the board.
The company did a forward split last summer which had the unintended consequence of getting the stock booted from the DTCC. The intent was to force the shorts to cover. The company had to reapply to the DTCC and hopefully INIX will be back in again soon.
Welcome to the board.
iFinix Reports Financial Results for 2010
PLAINVIEW, NY--(Marketwire - March 30, 2011) - iFinix Corp. (PINKSHEETS: INIX), a provider of real-time financial information and services to active traders and to the securities industry, announced today the financial results for the period ending December 31, 2010 and has scheduled its quarterly conference call.
iFinix Corp. reported revenues of $505,860 and a loss of $449,126 for the year ending December 31st, 2010. These revenues were derived primarily from its wholly owned subsidiary iFinix Futures. This represents a revenue increase of $59,361 and an increase in losses of $441,817 for the same period last year.
View report: http://www.ifinix.com/2010financials.pdf
The conference call is schedule for Thursday, March 31, 2011, details are below:
Date: Thursday, March 31st, 2011
Time: 4:05 PM EDT
Info: Dial (712) 432-1001, then enter access code number 413186445, then press #
Investors are requested to submit their questions to the company in advance to contact@ifinix.com before 1:00 PM EDT. Questions will be reviewed and selected for use during the call.
iFinix CEO, Benhope Munroe, stated, "2010 was a challenging year for the company. However, the company is working aggressively to build revenue and increase profitability. The DTCC application is pending approval and we hope the stock is back in the DTCC soon. The company will continue to update the public on the progress of the company."
About iFinix Corp.
iFinix is a diversified information technology services and solutions company with expertise in systems integration, outsourcing, infrastructure and server technology. iFinix has established a product line that delivers financial and business information with streaming, real-time market data, news and analytics to professionals and active individual investors. The company's suite of products includes iFinix RealTime, iFinix Trader and eFinix. Visit http://www.iFinix.com, www.ifinixfutures.com, www.ifinixsoftware.com, www.proactivefutures.com.
Legal Notice Regarding Forward-Looking Statements:
Safe Harbor: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of iFinix Corporation to be materially different from the statements made herein.
Yes, my shares were deposited into my account.
Because I refuse to believe the company would dump 100 million shares to raise $20K. From previous financials, there are plenty of shares that were issued at .0001 - .0003 to pay off debt. IMO, the shares are being sold off by those people/entities.
I might be wrong, but I doubt it.
I do not believe it is iFinix dumping these shares.
This is insane! Where the hell are all of these shares coming from? Who the hell sells at .0002?
Based on all that happened in 2010, only a real fool would think the financials will be anything but negative. I don't think they'll even show a $134 gain. I guess, the only way from here the stock can go is up. Any kind of positive news after the financials could be enough to get the sp moving up. I think most investors believe the company is dead or running on fumes. If they can counter that perception somehow, I guess anything is possible.
The updated AS was posted to the Nevada website so it is not a misprint.
I am waiting to hear back from the TA. I also expect that the financials will address share structure. I will update the iBox as soon as I get an accurate OS and Float.
Wow, you really turned on the company. Did you sell all of your shares too?
I dumped all my shares yesterday. I also called the SEC and was told that it is possible that after the court action is completed, the defendents and Riptide could be ordered to pay back investors. I'm not sure if it will be 100% but anything is better than nothing.
The website will be down over the weekend for maintenance and updates. I was told it will be back up Monday.
I doubt the company has the money available to buy shares, even at this cheap share price. The company is well beyond the "lack of communication" limit. It has been two months since the last PR and still we remain in the dark on the DTCC issue. The first quarter is almost over and still no mention of a conference call.
I still believe the company can pull out of its current situation however it will not happen by keeping shareholders in the dark.
As much as I'd like to buy more at this absurdly low level, I am way too over-extended in INIX to wager another cent. I envy those of you that are scooping up these cheapies (so long as the company recovers) and hope you can hold them for a while to keep them off the market.
I just can't believe we have not heard a peep about the DTCC.
I believe the fins will be out by the end of next week. I'm probably going to be proven wrong, but that's when they are due.
I really could care less about the 2010 fins because we all know they're going to suck. I want to know how far along the company is to getting the stock back into the DTCC.
The last PR, almost two months ago, said there would be quarterly conference calls. Well, there is only three weeks left in this quarter and still no conference call. Hmmmm, wonder why??
Hard to believe a year ago INIX was 15,000% higher than it is now. Makes me want to puke that I did not sell it!!
In 2009, the company issued A & B warrants in the form of paper certificates to raise money. Last summer's forward split resulted in the stock getting booted from the DTCC. One result of that is many brokers are no longer accepting paper INIX certs. So, I opened an iFinix Capital account knowing they would accept them.
I will hold off deposting my next certificate until after INIX is back in the DTCC and I can find another broker that will accept it and not rape me financially in doing so.
A very painful lesson.
Not many brokers are accepting paper INIX stock certificates. I normally use TD Ameritrade and they never charged me a fee to deposit paper certs. I did not know the fees were going to be so high until after I sent the cert in. I have sent a complaint to iFinix! The TA fees are total BS!!
For those of you who own INIX warrant stock certificates, you might want to hold off trying to deposit them into an iFinix Capital account. Instead, you might want to wait until the stock gets back into the DTCC and hopefully traded again by other brokers.
I was charged $493.73 in fees to deposit a single paper INIX certificate to fund my iFinix Capital account!!!!!! Absolutely frikin absurd!!!!
The Transfer Agent alone charged $200 to convert the cert for the clearing house. Almost $500 in fees to deposit a single certificate!!!! I am absolutely furious!!!
TD Ameritrade never charged me that kind of fee to deposit a paper cert.
It's hard to believe I bought CDIV last year at .44 and .52 I am so glad I got out at .46 This will be in triple zeros in two weeks.
Transcend is a broker/dealer acting as iFinix Capital's pass-thru until they get FINRA certified. The actual clearing house is Penson Financial.
Read the previous PRs on the subject to get more information. I just went through the whole process myself and it was a bit confusing and daunting.
Just make certain you have copies of all your warrant paperwork. Once the stock is back in the DTCC, it could become a little easier to deposit the certs. I believe the main reason for the difficulty is due to new SEC requirements needed to prove ownership of the certs and to prove they are real certs, not counterfeit. Transcend legal deparment told me that all broker dealers are having to comply to the new requirements and it is making their jobs more difficult.
Depositing the paper certs into my iFinix Capital account has been a total pain in the ass. I first started the process over a month ago and I am still waiting for word that my account is funded. The new SEC rules and regulations for depositing paper certs has made the whole ordeal a total cluster f... I had to provide all sorts of paperwork to prove the certs were mine, then I had to send the certs and authorization to Penson. Then I needed a letter from the company stating they authorized the shares to me, blah blah blah. I will still be required to pay the $125 fee to Transcend and then possibly another pass-through fee for the TA.
The forward split has proven to be a total disaster. The iFinix Board really made a bad call on that. Not only did it screw the share price, it got the stock booted from the DTCC and is making it almost impossible for the company to dig itself out of the current hole its in.
Bernanke was 100% correct when he said it would have been better for the company to have just increased the AS and left everything else alone.
Since the annual goals PR was released a month ago, the company has not provided any follow-up to investors. What progress has been made on the DTCC issue, how is iFinix Capital doing, when is the conference call, etc. It's unimaginable how far this company has fallen since this time last year. To think INIX was at .045 a year ago and now its almost 10,000% lower. It's just frickin mind-boggling.