Infrax Systems Inc (IFXY)

[jeme]

Preferred shares can convert to common at 20 cents pps. Found this mentioned back in May on the message board: Under the terms of the agreement, INFRAX Systems will acquire Trimax Wireless for approximately $10M in a combination of cash and Preferred stock, convertible into common stock at a price of $0.20. The final purchase price will be based on a third-party valuation of Trimax's business and holdings. INFRAX will continue to support the existing Trimax customer base and the development of future products based on the unique patented Trimax architecture.

Think about this statement, if you were a preferred shareholder and had waited the required holding period and wanted to sell some of your shares.....you would sure want the pps higher than 20 cents per share. Great motivation for preferred shareholders to create revenue and profit to get the pps over .20 and probably a lot higher.

I do not believe the preferred shareholders are holding their shares where anyone can borrow against them to sell short. Preferred are always held in cash accounts. Plus, preferreds are tied-up.

This was stated back in May and noted in the 8K back then. A lot more has happened since May. Plus, the other message boards are getting news that the float here is very low and our group is creating a "FLD" (float lock down). Hang-in, this is going to get very exciting....