This is the last response I got from Sam..take it for what it's worth...his response is colored:
From Sam Talari
Do we have any progress on these items?
-Infrax Systems, in a joint venture with PowerCon Energy Systems, will be designing and developing the next generation Home Automation Network using our propriety Secure Network Interface Card (SNIC).
ih.advfn.com/p.php?pid=nmona&article=55732840
We are working on projects here and in Europe with PowerCon. Can’t say much since at this point.
-Infrax Systems, Inc., a global provider of unified Smart Grid-related products and services for the Energy and Utility industries, announced today that its Board of Directors has approved the final “record date” and “dividend rate” of the stock of Lockwood Technology Corporation to its shareholders. The record date for determining the holders of Infrax's common stock who will receive the dividend will be changed to March 19th, 2013.
ih.advfn.com/p.php?pid=nmona&article=55967661
Conclusion is coming soon.
-We had a new development on the current Lockwood Technology lawsuit. We have added Sovereign Bank to the list of defendants. Sovereign Bank is a wholly owned subsidiary of the Spanish Santander Group. Based in Boston, Massachusetts, the bank has more than $77 billion in assets, operates 723 retail banking offices. Lockwood is requesting in excess of $16,086,768 in triple damages under RICO.
ih.advfn.com/p.php?pid=nmona&article=56813225
Lawsuit is still on-going. Again due to sensitive nature we cannot say much..But due to our overwhelming evidence, we will get justice.
-The board of directors of Infrax Systems is considering special class Convertible Preferred Stock as dividend to its shareholders to honor and reward their investment in the Company.
ih.advfn.com/p.php?pid=nmona&article=57690147
We had to wait for end of year end, 6/30/13. Conclusion coming soon.
-Due to important upcoming events, the management and a majority investor of the Company have converted majority of their salaries, notes and loans to the Company into Convertible Preferred Stock. This move by the management and the investor will dramatically improve the financial health of the company, specially its balance sheet. It also conveys management and the investor’s confidence in the future of the Company, based on the current exciting developments. The total amount converted into Preferred Stock is $1,654,000.
ih.advfn.com/p.php?pid=nmona&article=57805574
Cannot comment on this. News will be sent when available.
thats all... I wish there was more..
