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Monday, 07/20/2009 3:03:32 PM

Monday, July 20, 2009 3:03:32 PM

Post# of 2266
10Q filed 7/13 had the following to say: "We will need to generate significant additional revenue to support our projected increases in staffing and other operating expenses in light of our anticipated merger at the end of July 2009 with The Irus Group. We are currently expending approximately $70,000 per month to support our operations, and under our current business plan that anticipates completing the merger with The Irus Group we would be expending approximately $650,000 per month by the end of fiscal 2009. We expect to raise additional financing through sale of shares of our common stock until the expected closing date of the merger with The Irus Group at the end of July 2009 that will, we believe, allow us to raise enough capital that combined with the cash generated by our combined companies will be sufficient to fund our operations through the end of December 2009. If we are unable to generate increased revenue, raise additional capital or find another merger partner with sufficient revenues to support our operations, it will be necessary for us to significantly reduce expenses to stay in business. Although we believe the additional capital we will require will be provided through one of these sources, we cannot assure you that we will be successful in these financing efforts or find financing at acceptable prices. Our failure to generate such revenue, reduce expenses or obtain necessary financing could impair our ability to stay in business and raises substantial doubt about our ability to remain as a going concern."
http://biz.yahoo.com/e/090713/ifrx.pk10-q.html

So it looks like the merger will occur end of month. If there is any selling, I guess we all know where it is coming from.

Makamai

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