Ifinix Corporation (INIX)

[XQZME]

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.