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iFinix Corporatio { INIX } notified its shareholders last Friday that Tesoro Gold Company will be overseeing the Mohave Mine operations. Final permits such as the Aquifer Protection Permit, Occupancy Permit, and the Mining Plan of Operation are in progress. I expect that mining operations will begin Q4 2011 or Q1 2012. Estimated annual revenue for iFinix Management are in excess of $1.2 million. This is huge since iFinix Futures currently takes in just $550,000 annually.
I was able to use Google Earth to capture an image of the Mohave Gold mine's leach pads and access roads. Its clear to see much progress has been made.
iFinix Corporatio { INIX } notified its shareholders last Friday that Tesoro Gold Company will be overseeing the Mohave Mine operations. Final permits such as the Aquifer Protection Permit, Occupancy Permit, and the Mining Plan of Operation are in progress. I expect that mining operations will begin Q4 2011 or Q1 2012. Estimated annual revenue for iFinix Management are in excess of $1.2 million.
I was able to use Google Earth to capture an image of the Mohave Gold mine's leach pads and access roads. Its clear to see much progress has been made.
I was trying to make a joke vinchenz. Lighten up.
In my opinion, OakBridge Inc. was a shell company used to join the Mohave Mine Joint Venture. Each of us has an opinion of this acquisition. At first, I was a bit skeptical however I am spending a lot of time each day making calls, sending emails, etc. in order to provide proof-positive that the mine is legit.
I have spoken to the Inspector of the mine several times and received several e-mails. He assures me the mine is legit and in process of completing funding and permits.
I have spoken to Westland Resources, responsible for completing the Aquifer Protection Permit on behalf of Tesoro Gold Company. Another confirmation of the mine, IMO.
Hopefully, iFinix will release another PR soon providing further information regarding the relationship between iFinix Management and Tesoro Gold Company. Again, I seriously doubt iFinix would fraudulently release a public press release, which could be audited by the SEC, stating Tesoro was overseeing the mine, if it was not true. The PR alone confirms, IMO, the relationship between iFinix and Tesoro.
I called Westland Resources, Inc. located in Tuscon AZ and spoke to Brian. He said he is not the Project Manager working on the Mohave Mine Aquifer Protection Permit (APP) however he said he would speak to the PM who is and have her call me.
I informed him that I was a shareholder of iFinix. I told him about the recently acquired OakBridge and the 20% ownership of the mine. I told him that I was conducting DD on the mine and that I was not looking for anything considered to be insider trading. I mentioned to him that both Tesoro Gold Company and Cottonwood Gold Company are privately owned and that all I am looking for is a status of the Aquifer Protection Permit and nothing more. The APP is one of the final permits required in order for mining operations to commence.
The fact that Brian acknowledged that there is a PM working on the APP for the mine continues to confirm, at least IMO, that the mine is legit.
After I speak with the PM responsible for the APP, I will post what I learn on the board.
I am also trying to find information on the status of the Mining Plan of Operation (MPO) from the Bureau of Land Management in Kingman AZ. The first number for the BLM did not work.
Not sure, I'm waiting for "M" to let me know about that. Prior address not of concern to me at all. All that matters to me is that it's now owned by iFinix Management. I have confirmation about the mine and I am satisfied its legit.
I'm getting all misty.
I inserted the image into the DD which is a sticky.
OakBridge Management has changed its name to iFinix Management. Business address is now the same as iFinix Corporation.
I agree with you black acura. INIX is going through a nice consolidation period and will be ready for a nice upward move once additional news is out.
Keep taking out all those .0008s and let's get INIX moving on up to double zeroes.
I have sent emails to Westland Resources, Inc in Tuscon inquiring about the status of the Aquifer Protection Permit (APP).
I also sent an email to Knight Piesold & Co. concerning the remaining engineering for the completion of the APP.
I plan to call the Bureau of Land Management in Kingman AZ on Tuesday to ask about the Mining Plan of Operation (MPO).
I will keep board posted as I learn more.
Go INIX
X
INIX [iFinix Corporation] Due Diligence (revised)--
The following information is provided for potential investors of INIX. It is strictly my opinion and it is not meant to serve as investment advice. Please do your own due diligence.
iFinix Corporation has established itself as a transparent and viable company. Following a very unpopular reverse split decision several years ago by the former Chairman, (now deceased), the stock price crashed. However, since June 2008 the current Chairman, Doug Spadaro, and CEO, Ben Munroe, have worked diligently and honestly (although not always successfully) to bring the company back. It has been a rough roller coaster ride for the long-time holders of INIX.
After accomplishing almost all of its 2009 business goals, which included the acquisition of ProActive Futures (the major revenue source at this time), the filing of its Form 15c-211 and holding its first shareholders meeting, iFinix Corporation faced numerous setbacks in 2010.
First, the company’s much ballyhooed trading platform launch, “RealTime”, was delayed several months due to issues with the Data Center. Trying to launch over the Christmas holiday proved problematic as the personnel there did not enthusiastically attempt to resolve coding and Exchange feed issues. This resulted in a piecemeal launch of the product in January 2010. Since it initially lacked the pinksheets Level 2 information, it was not well received. Additionally, Data Center fees were $20,000 per month and subscriptions for the product were low. Some believe the economy played a part in the low subscriptions combined with the launch issues. As a result, iFinix was losing substantial money on this product. iFinix pulled the product after six months in order to cut losses.
Second, the company completed the acquisition of Beckman Holdings. This acquisition resulted in iFinix establishing iFinix Forex subdivision however the acquisition took longer than expected and required the issuance of more restricted shares than it had anticipated. It remains to be seen how well iFinix Forex will impact revenues of iFinix Corporation although it appears to be picking up.
Third, the company established another subdivision, iFinix Capital. Initially expect to be operational in July 2010, various issues delayed the launch until December 2010. iFinix is optimistic that iFinix Capital will be a significant revenue earner in the future, however, at this time that does not appear to be the case.
Lastly, iFinix Corporation initiated a forward split over the summer of 2010. Its stated goal was to reward shareholders by doubling their shares while at the same time increasing the authorized shares needed to continue operations. The decision appears to have been a mistake, although the company stopped short of admitting such during the recent conference call. The major issue with the forward split was it resulted in the stock, INIX, being exited from the DTCC. This required that all brokers trade with paper stock certificates which caused some such as TD Ameritrade to disallow its members from buying of INIX shares. iFinix has applied for entrance to the DTCC and approval is expected soon. Once INIX is back in the DTCC, it is anticipated the brokers will allow full trading of the stock again.
Looking back, 2010 was a very tough year for iFinix Corporation. However, 2011 appears to be off to an interesting start. The company raised its authorized shares to three billion shares in order to complete several acquisitions and mergers (as stated in recent PR).
During conference call held on March 31, Mr. Munroe stated that iFinix Futures’ revenue has increased 24% so far in 2011 which is ahead of its forecasted growth.
Recorded iFinix conference call of 03/31 with CEO Ben Munroe:
Playback #: (712) 432-1011
Playback Access Code: 413186445#
The company announced the acquisition and 51% ownership of OakBridge Management, Inc. on 4/8/2011. This acquisition resulted in the addition of $3 million to the books of iFinix. Revenue projections resulting from this acquisition have yet to be reported. Due to the acquisition, iFinix has filed a request to change the name of OakBridge Management to iFinix Management.
You can find the property on Google Earth surrounding 114-114 32 30 W, 35 31 15 N
On 4/12/2011 iFinix Corp announced:
Quote:
________________________________________
I just received the following email from Jack Hamm, the inspector who completed the 43-101. I had emailed him asking for the physical address of the Mohave mine so we could Google Earth it I also asked him to if he would be willing to give his Tesoro contact Ben Munroe's email address and have him contact Ben with a status of the mine operation. Below is his reply:
What questions are you trying to get answers to?
On Saturday morning, I sent a copy of the lawsuit to Jack Hamm and asked if he knew anything about it. It appears the suit was resolved however it did result in a long delay in getting the mine production underway.
See below:
I also found the insider trading concern to be a positive sign for the mine. Having Tesoro Gold tell him he can't divulge that information gives me the assurance that the mine is legit and the company is looking out for iFinix's interests. Since Tesoro is a privately held company, there is no reason not to tell us other than to protect the interests of iFinix and its shareholders.
I will not wait for Tesoro to provide an update to iFinix and then let Ben release a PR informing us what's going on. Hopefully, that will be sooner than later.
Go INIX
INIX still in the buzz cloud, but just barely.
Woody, Jack Hamm, the inspector who completed and submitted the NI 43-101 report did contact Tesoro for me as he promised to do. However, he was instructed not to provide any further information to me as it would constitute insider trading. Tesoro and iFinix Management will have to release PRs to let us know anything further. Go INIX
Mr. Hamm's email:
Dear Mr. xxxx:
Pursuant to our phone conversation and your subsequent email last evening, I regret to inform you that I have been advised not to provide any information not contained in the Technical Report because of “insider trading” concerns. However, you may rest assured that the information contained in my report is correct to the best of my ability. I took great care in properly categorizing the Mohave mineral reserve versus the mineral resource. Indeed, one of the principal purposes of the 43-101 format is to allow potential investors to know exactly what is known about a mining property at a point in time. I have maintained a good reputation for some 48 years and would not risk that reputation, or my professional certification, for any reason whatsoever.
You asked about timing for gold recovery. I refer you to the first (summary) spreadsheet in Appendix 25.3, where gold recovery is seen to gradually increases during the first four months of mining and then level off. This is because it takes time for the leach solution to saturate the heaps before the circuit becomes stabilized. This recovery lag is perhaps best depicted by page 2 of the spreadsheets.
Let me know if I can be of further assistance in clarifying the report.
That's my opinion as well. According to page 113 of the 43-101, estimated annual revenue for iFinix's share of the mine will begin at $1.2 million based on current POG. If, as predicted, POG continues to rise, then annual revenue will only increase.
Once the mine is producing $100K+ a month in revenue for iFinix, the sp of INIX is going to soar! That is why I believe it is super critical for iFinix to provide routine updates on the status of the mine i.e. when is funding complete, when will final permits be given to Tesoro, when will operations get underway, and most importantly, when does Tesoro [iFinix Management] expect revenue to start coming in.
Invesors buying INIX at current sp will be laughing all the way to the bank once revenue from the mine begins.
I called the DTCC and spoke to Melissa Holder in the Undewriting Department. I gave her all the information about iFinix and she told me she is not able to disclose the DTCC application information to anyone other than the broker/dealer that submitted the application.
So, I called Penson Financial and asked them. I spoke to Page who put me on hold to speak with the Securities Department. She was only able to tell me that the DTCC shows a "chill" on INIX which simply means the application is still being processed. She said that will be removed once the DTCC approves the iFinix application for eligibility.
That's as far as I was able to get.
iFinix Management owns 11% of the Mohave Mine. Today, the price of gold ( POG ) is currently trading $1,494. The estimated annual revenue from the mine was based on the POG at $900. GO INIX
2012 will be a goldend year for iFinix
I agree. People need to raise their sell prices. Especially, if they believe INIX is going much higher.
I've heard that MMs can borrow shares and use them to short a stock, and that by cancelling orders, it gets the shares off the market. This prevents MMs from doing that.
INIX in accumulation at the moment. I like it. Forming a nice base in the .0008 range which will help when further news is released.
C'mon DTCC!!!
iFinix ( INIX ) Update
PLAINVIEW, NY--(Marketwire - April 15, 2011) - iFinix Corp. (PINKSHEETS: INIX), a provider of real-time financial information and services to active traders and to the securities industry, today announced an update to its shareholders.
iFinix has recently acquired majority control of Oakbridge Management, Inc. Oakbridge has a 20% joint venture participation in the Mohave Mine, located in northwestern Arizona.
The Mohave Mine is managed by a subsidiary of the Tesoro Gold Company. Tesoro owns gold properties, with both vein and bulk tonnage exploration targets, in the western United States. The Mohave Mine has a proven ore reserve, in addition to multiple exploration targets.
Tesoro will be providing the joint venture participants with updates as to the development of the mine. This arrangement provides iFinix with the opportunity to participate in an exciting mineral resources project while maintaining primary focus on its core business lines.
iFinix Corporation has filed for a name change with the New York Secretary of State to change Oakbridge Management, Inc. to iFinix Management, Inc. The company is now headquartered at 255 Executive Drive, Plainview, NY 11803.
CEO Benhope Munroe commented, "We are fortunate to have a company with the experience of Tesoro Gold as the manager of the Mohave Mine Project. This allows the management of iFinix to maintain its focus on developing and growing its wholly owned subsidiaries, which are all still intact. iFinix Capital is in the process of recruiting representatives and building its client base. iFinix Futures and Forex is currently increasing market share and is also enjoying an increase in revenues. iFinix Software is in negotiations with a software development company to partner in the development and marketing of iFinix RealTime, and also assist in the continued development of eFinix which we hope to launch by the end of the year."
*** iFinix (INIX) now owns 11% of the Mohave Mine which is scheduled to start mining operations late this year or early in 2012. Estimated annual revenue for iFinix is $1.2 million and will increase each year.
Remember to put INIX in your posts so we can stay in the Buzz Cloud.
Although its only a small INIX, its still in the Buzz Cloud. INIX could get some new momo as more people become aware of the positive moves made recently.
IMO, the acquisition (partnership) of a software development company, as mentioned in Friday's PR, would be of great benefit to iFinix.
Nice to see INIX hitting .001 again.
According to the DTCC article I read, the fee is anywhere from $2,000 - $6,000.
If the acquisitions and partnerships pay off, then all will be ok. I am cautiously optimistic that 2011 will be more like 2009 (1000%+ increase) than 2010 (5000%+ decrease). So fat, it seems iFinix is off to a good start.
I'm looking forward to seeing Q1 and especially Q2 financials.
All I really want at the moment is for the DTCC to accept the INIX application, soon!
I don't know which broker/dealer submitted the application on behalf of iFinix.
No momo for INIX heading into this week. Maybe that's a good thing until we get some more news.
I believe the DTCC will tell you to contact Penson, which is the largest clearing house, and and ask them for a status of the INIX application. IMO
As I commented about that article in early January:
I was particularly drawn to the final paragraph. See the bold section below. The forward split definitely backfired on INIX shareholders:
Recent Developments
A couple recent developments are worth mentioning. First, there has been some mention of a “DTC-eligibility fee” being charged in the range of $3,500 to $6,000, which, if true, is remarkably high considering the services performed.
I think everyone is o.k. with a “risk premium” for the services for new small public companies in light of the FINRA Release, but that fee range is absurd. Second, and more importantly, according to the latest rumors, any name change, stock split or other activity that requires an issuer obtain a new CUSIP number will cause the company to need to re-apply for DTC-eligibility, which, based on what has occurred recently with new public companies, could be a time-consuming, expensive process with no known conclusion.
Additionally, there is allegedly a legal opinion that may be required for these companies to obtain and submit to DTC with their re-application.
I submited my DD on INIX to a dozen pennystock websites. Not sure how much it will help, but it can't hurt.
If iFinix, and Ben, continue to accomplish steps to increase revenue, increase market share, obtain financing, and complete a JV with a software development company (as mentioned in yesterday's PR) the stock price will have to move up. At some point, the MMs and those trying to hold it back will have to let it move up. IMO of course.
For non-flippers, INIX is at a bargain entry price. With the future revenue of the Mohave Mine most likely coming in 2012, the price is so undervalued.
I am keeping my fingers crossed we see a PR this week stating INIX is back in the DTCC.
INIX [iFinix Corporation] Due Diligence (revised)--
The following information is provided for potential investors of INIX. It is strictly my opinion and it is not meant to serve as investment advice. Please do your own due diligence.
iFinix Corporation has established itself as a transparent and viable company. Following a very unpopular reverse split decision several years ago by the former Chairman, (now deceased), the stock price crashed. However, since June 2008 the current Chairman, Doug Spadaro, and CEO, Ben Munroe, have worked diligently and honestly (although not always successfully) to bring the company back. It has been a rough roller coaster ride for the long-time holders of INIX.
After accomplishing almost all of its 2009 business goals, which included the acquisition of ProActive Futures (the major revenue source at this time), the filing of its Form 15c-211 and holding its first shareholders meeting, iFinix Corporation faced numerous setbacks in 2010.
First, the company’s much ballyhooed trading platform launch, “RealTime”, was delayed several months due to issues with the Data Center. Trying to launch over the Christmas holiday proved problematic as the personnel there did not enthusiastically attempt to resolve coding and Exchange feed issues. This resulted in a piecemeal launch of the product in January 2010. Since it initially lacked the pinksheets Level 2 information, it was not well received. Additionally, Data Center fees were $20,000 per month and subscriptions for the product were low. Some believe the economy played a part in the low subscriptions combined with the launch issues. As a result, iFinix was losing substantial money on this product. iFinix pulled the product after six months in order to cut losses.
Second, the company completed the acquisition of Beckman Holdings. This acquisition resulted in iFinix establishing iFinix Forex subdivision however the acquisition took longer than expected and required the issuance of more restricted shares than it had anticipated. It remains to be seen how well iFinix Forex will impact revenues of iFinix Corporation although it appears to be picking up.
Third, the company established another subdivision , iFinix Capital. Initially expect to be operational in July 2010, various issues delayed the launch until December 2010. iFinix is optimistic that iFinix Capital will be a significant revenue earner in the future, however, at this time that does not appear to be the case.
Lastly, iFinix Corporation initiated a forward split over the summer of 2010. It’s stated goal was to reward shareholders by doubling their shares while at the same time increasing the authorized shares needed to continue operations. The decision appears to have been a mistake, although the company stopped short of admitting such during the recent conference call. The major issue with the forward split was it resulted in the stock, INIX, being exited from the DTCC. This required that all brokers trade with paper stock certificates which caused some such as TD Ameritrade to disallow its members from buying of INIX shares. iFinix has applied for entrance to the DTCC and approval is expected soon. Once INIX is back in the DTCC, it is anticipated the brokers will allow full trading of the stock again.
Looking back, 2010 was a very tough year for iFinix Corporation. However, 2011 appears to be off to an interesting start. The company raised its authorized shares to three billion shares in order to complete several acquisitions and mergers (as stated in recent PR).
During conference call held on March 31, Mr. Munroe stated that iFinix Futures’ revenue has increased 24% so far in 2011 which is ahead of its forecasted growth.
Recorded iFinix conference call of 03/31 with CEO Ben Munroe:
Playback #: (712) 432-1011
Playback Access Code: 413186445#
The company announced the acquisition and 51% ownership of OakBridge Management, Inc. on 4/8/2011. This acquisition resulted in the addition of $3 million to the books of iFinix. Revenue projections resulting from this acquisition have yet to be reported. Due to the acquisition, iFinix has filed a request to change the name of OakBridge Management to iFinix Management.
On 4/12/2011 iFinix Corp announced:
Both of these have been previously posted on the board and placed into sticky notes. Thanks for the heads up though.