Replies to post #27691 on Infrax Systems Inc (IFXY)

[Sooah]

If I were a $IFXY shareholder, I'd contact the new CEO and ask for a copy of the fairness opinion for the $60MM, one has to be supplied. I'm not a shareholder here, just $FWDG but even I feel $IFXY overpaid for HempTech.

With its contracts, HempTech was supposed to generate somewhere between $10-12 million in revenues in 2015 so maximum for sales purposes should be $24-30 million if they wanted to pay a premium.

$10 million in cash and $10 million in preferred stock would be more than adequate to cover this acquisition, so I don't know what this new CEO was thinking. There is no reason to dilute commons to the tune of +700 million shares plus $10 million in cash plus preferred stock.

I've said all along to ignore this $60 million valuation, it's crap. No one in their right mind would accept this deal.

So, complain to management. Let me know if I may assist.

[ForReal]

This deal is more befitting an April 1 announcement. Then we could wonder if it was some kind of April Fool's joke.

In essence, IFXY has become a cash register for the sister company. All the dilution money here will go into Future World.

Sad. I guess these are some of the "Exciting Events" Sam was referring to when he was blatting that about.

Write this one off folks, it will be diluted to oblivion and tossed on the junk pile.