SO:................
Questions were situated in different categories,
DTCC:
Acquisitions:
iCapital:
Company operations:
DTCC: Rejected, no reason given. This was not planned nor was the company aware of the issues prior the FS..... Losing money on the application fees........ In process of filing a new app. The company will focus the next couple of months on
"Uplisting" to BB....(OTCBB) to circumvent trading problems and show company is an operating company and not a scam.
Acquisition: "joint venture no longer exists" Terms of agreeement has not been satisfied, shares will be returned to company treasury... No joint ventures planned in near future..
iFinix Capital: Original clearing firm shut down "FINRA" Other firms not accepting pinksheet companies due to new regulations... iCapital not in operation at the moment looking into becoming "brokerage house" but expensive. those that signed up to "iCap" will be notified soon.
Current Operations: Trader/Efinix takes time and money... Team is still working hard.... In negotiations to merge products but nothing firm as of yet....
Futures/Forex, 30% increase in revs for Q2.
Bens salary is 250K but did not take that amount. Amount has to be "reported"...
Share price is down, company needed to issue shares to keep doors open.... All cash went into the company... No time frame for dilution... Company wants to focus on uplist to "BB"...
Reverse split: No plans on conducting a RS in near future. Company will try everything in its power "vs" a RS.
Q 3 plans: Get uplisted for better trading "operating company"... Continue to grow revenues, release demos for products.
MY take??????? I heard alot of failures in this call. I get a feeling that the company "continues" to count its chickens before they are hatched. If anyone is thinking, NO this company can not uplist to a large market. Its OTCBB or nutt'n Now, OTCBB should bring a margin to the PPS but this does not help those whom are stuck with a brokerage that will not currently trade inix shares. The news alone will increase the PPS before any brokerage resumes trading. The uplist does not guarantee certain brokerages will resume trading in inix.. (IMO, Im thinking the company needs to provide Audited Financials for the DTCC issue and if they are going to pay for that might as well try the uplist....)
Had this been an actual Conference Call some one could have questioned Ben on how long they have known the DTCC rejected their first application.. That info "when known" might have been a great help for some investors that have been forced to wait on the sidelines. They have another application going in..... Losing tons of money on these "apps" he said...
As for MOMO..... Yous guys are going to have to start flinging the uplist BS all over the internet and hope people start believing it... Ive read about 1 gajillion other companies just this week that said they are going to "uplist" very soon- also......
BTW.... One can access the CC off the Corp website
The DTCC information is what I (personally) was waiting on.. I am very disappointed in the news. I believe the company had a responsibility to its investors to explore all legal outcomes prior conducting a "New Issue/FS". Anyway, what is there to hold on to after this call? An uplist... how long will that hold any rise in PPS if revenue does not go GREEN??? There was around 40K in last Q's report that wasnt explained. Will there be another unexplained income in Q2's report? If not, the loss will be greater than last Q.
Is there a market for iFinix Software anymore? This has been going on since 2004, initially released 2008. 2 releases, 2 retractions.. How long can we wait till they get it right or the market improves? This piggy backing has proven a bad idea with iCap and now soon with the software.. Almost smells like the company should drop all the past projects and focus on what "is" bringing in some sort of revs........
THEN:
R/S.....File BK......Go private!!! Might get the CEO more cash out of that 250k salary he has to report????
Ok, Im getting toooo negative again... Hmmmmm
:(
HAHAHAHAHAHAHA
