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The Yield Sign will remain until the attorney files the Attorney Letter with Respect to Current Information with pinksheets. INIX will go back to Current Information a few days after the letter is filed.
I believe it stands for Pinksheets Limited Information.
My opinion of Ben doesn't really matter. I bought more shares of INIX last week and I see other long-time owners bought significant numbers of shares today.
The financials stated that the company issued a lot of Rule 504 shares to Fairhills Capital for cash. iFinix was transparent in releasing that information publicly. The fact that the company filed a series of updated reports last week, tells me that iFinix is doing its best to remain transparent.
Although I am not thrilled with the current share price, I am very pleased with the 75% increase in revenue compared to Q1 2010. There are not many pinksheet companies that can show $161K in revenue over a quarter and have an actual viable source of revenue such as iFinix Futures.
The acquisition of Oakbridge occurred on March 16th and it is possible that its taking a while to get all of the accounting data in order. If so, then the Q2 financials should reflect the $3million assets.
The stock was at .0002 a month or so ago and then it rallied up to .0012 so I am believing that will happen again. Once the DTCC issue is resolved and the company can file updated financials reflecting the mine assets, I believe the stock will rally.
For now, I, like others, will continue to buy at these cellar prices. With 75% increase in revenue, I do not believe the company is in danger of going under.
I'm watching it like everyone else.
If the company issued almost 300 million shares under Rule 504 to Fairhills Capital for cash, then its holding the pps down.
I think its the company holding it down now. The massive amount of shares issued for cash (Rule 504) are making it very difficult for the pps to move higher.
Sometimes it takes a few days for the financials to make an impact on the market. I am very pleased with the increased revenue.
Although, the dilution does not sit well with me at all, some believe it’s necessary in order to keep operations running until revenue offsets expenses. IMO, the company absolutely must obtain financing in order to stop the hemorrhaging of shares.
The PR today was very generic and should have offered some additional information to serve as an update. They had to pay for the PR so why not use it.
Until the stock gets back in the DTCC and the company can report some good news, you might be right. I bought another 1.5 million shares last week and I will buy more and keep averaging down. At some point, I do believe this company and INIX will take a turn for the better. The dilution must stop!
I think the company needs to keep working to increase revenue through Futures (which seems to be doing better each quarter) and get the debt paid off. RealTime is anathema to most INIX investors and should stay dormant until the company no longer has the need to dilute the crap out of the stock.
INIX investors have been buying up all the shares they can, however, at the rate Ben is issuing Rule 504 shares for cash, it will take a while for retail investors to take them off the street. All of the current INIX shareholders would need to buy an additional two million shares each to make that happen. At least now we know where all the shares came from.
If the $3 million in assets from the mine are not shown in the Q2 fins, I will raise holy hell! To quote the PR:
iFinix has acquired a 51% controlling interest in Oakbridge Management, Inc., a New York-based private investment firm for 250 million restricted shares. As a result, iFinix' Balance Sheet now reflects additional assets of approximately 3 million dollars. This represents exponential growth in the company's asset value; which in turn, should allow the company to obtain future financing and move aggressively towards completion of its 2011 business goals.
iFinix revenue increased from $92,068 in Q1 2010 to $161,427 in Q1 2011 which is an increase of 75%.
iFinix Loss from Operations decreased from $151,014 in Q1 2010 to $65,589 in Q1 2011 which is more than 50% decrease in operating losses.
It would be absurd for the company to dump and lower the price.
The "going concern statement" is standard in almost all financials and has been present in all of iFinix's fins for the past three years.
Perhaps, the fins are not due today. Does anyone know for certain? He's still got an hour and a half to file something. LOL
Actually, iFinix released the 2010 Annual financials on time. It was the last day but it was still on time.
The company has a history of releasing financials late in the day. They are due today, May 16. There's still over seven hours left in "today".
I have no expectations of "better than expected" financials.
Last year, iFinix was able to get a large amount of debt forgiven. The 24% increase in Futures revenue should help however it will depend on how much expenses were. Long-term debt can be gradually paid off and helps offset taxes due. I'm interested in Revenue - Expenses = Profit.
I also want to see that new $3,000,000 in assets on the bottom line. SHOW ME THE MONEY!!!
The company tends to release financials at the end of the day. I do not expect to see a PR until after the market closes. Unless, of course, the company files an extension.
The Transfer Agent counts all issued non-restricted shares as being included in the Float. So, even the paper certs which are not tradeable until submitted to a broker are considered in the float. My guess is the true float is much lower than what was announced.
Is the pps is still in triple zeroes, it could be brutal!
Financials should be out on Monday. Hope they are not disappointing.
I wonder if the company might have been required to provide shares as collateral to obtain financing? Just a thought. There have not been 400 million shares traded so I still don't think its selling into the market.
The fact that the attorney's letter was filed today means that INIX should be back to Current Information by Wednesday. It usually takes three business days for pinksheets to update the status.
It also looks like the company is submitting a slew of amendments in order to comply with Current Information requirements.
The Yield Sign has been there for several weeks because the atttorney has not filed her Attorney Letter after the 2010 fins. Once she files that letter, it will go back to Current Information.
2010 annual report was released back in March. We're waiting on 2011 Q1 financials.
I am long and I am buying and holding. Once some relevent good news comes out from the company, I believe the sp will increase.
I want updates soon on:
Q1 Financials (should be out on Monday unless they request an extension)
Financing approval (did the $3 million in assets allow the company to obtain a loan?)
iFinix Management (when mine production scheduled to begin?)
Progress of additional partnerships i.e. acquisitions & JVs
iFinix Capital
I picked up another million this morning. Averaging down.
I had an order in for a million shares. Sat there all day and never executed.
The 2010 Q1 fins (period ending March 31, 2010) showed:
Total Assets: $1,658,329
Revenue: $92,068
Total Operating Expenses: $243,081
Loss from Operations: $151,014
Total Non-Profit Income: $151, 148
Gain: $134
It was put out in conference call that revenue was up 24% in the first quarter 2011. So the number should be better than last year.
RealTime losses are no longer there so expenses should be less.
Total assets should reflect the $3 million from the acquisition.
I'm looking forward to doing a side-by-side comparison. Go INIX
The longs continue to buy up these cheap shares and hold them. Eventually, whoever is selling these shares will run out, IMO, and the pps will increase.
I know Fidelity also works
I picked up some more today at .0003
Q1 fins are due out May 15. Since the 15th is a Sunday, perhaps they are due on the 16th. Hoping the Q1 2011 fins are significantly better than the Q1 2010 fins.
I can start buying up some of these cheap shares next week. I am not giving up on INIX.
In my opinion the answer is no, the company is not diluting. I have posted in the past that I believe the manipulation is being managed between the Magna Group and it appears UBSS.
The Magna Group is a group of investors who were issued over 100 million shares in 2010 under Rule 504 as payment for past debt owed by the deceased former Chairman, Dhru. Those shares were listed in several financial statements and show the shares were issued between .0001 and .0003 (post split prices).
Late last year, if you remember, there was a trading day that saw over 140 million shares trade and the pps went up 250% then promptly tanked back down. I spoke to the company about that session and was assured the company had nothing to do with it. At the time, it was said to me that it was most likely a group of investors that hired a stock marketing firm to pump INIX following a PR in order to sell shares previously issued to them.
A hundred million shares in the hands of a pissed off group can certainly do damage if properly manipulated through a broker by dumping shares at/below the bid. Then turning around and buying them all back again. This tactic has been done on other stocks but eventually the dumping ends and the stock price rises.
All IMO of course.
Jack Hamm, the Inspector who completed the 43-101 said the suit against Tesoro was resolved prior to his inspecting the site. He said that is why the production had been delayed. He told me that the permits were being processed and once approved, production could move forward.
All these other naysayers are talking out their butts.
He's been living in a cave. LOL
Approximately $5,000 worth of INIX traded today. Sounds like simple retail trading IMO.