Infrax Systems Inc (IFXY)

[1971]

With regards to Sam and others converting salary to preferred shares, would there not have to be a form/declaration filed?

Great point! http://www.sec.gov/Archives/edgar/data/1380277/000138027713000028/ifxy8kprefconv53113.htm

Item 8.01. Other Events

Infrax Systems, Inc., a global provider of unified Smart Grid-related products and services for the Energy and Utility industries, announced today the following;

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.