Current O/S 2,798M ------------------------- 750,000,000 - Trimax Shares Converted from Preferred (Restricted and acquired through the acquisition) 1,921,136,134 - Shares Owned by Sam Talari (Restricted) 955,275 - Shares Owned by Cristino Perez (Restricted) 126,060,000 - Shares Owned by Paul J. Aiello (Restricted) ------------------------- Float = 67M
Director Sam Talari converted almost 2B shares to common (restricted) through his Co. NeuWorld Communications. This was done to retain control of the Infrax following the Trimax acquisition in which Trimax received 750M shares (also restricted). Otherwise the deal would have been a reverse merger, rather than an acquisition. Shares are restricted for a period of one year and no more than 1% per month can be sold for an 18 month period thereafter. See Annual Report news release and the actual agreement filed with the SEC for details on the restrictions and ‘Lock Up and Leak Out’ agreement:
IFXY Now has $1.2M in revenue already reported through June 2010, with up to $4.8M more projected for the remainder of they fiscal year.
This past year Infrax has become a whole new company with a new CEO that has held VP positions with Wiltel and Progress Telecom. _____________________________________________________________________________ Most Recent News:
_____________________________________________________________________________ Infrax Systems (IFXY) Releases Annual Report Date : 09/29/2010 @ 8:00AM Source : MarketWire Stock : Infrax Systems, Inc. (IFXY) Quote : 0.017 0.0 (0.00%) @ 8:58AM
10-K PR:
Infrax Systems, Inc. (OTCBB: IFXY), a global provider of unified Smart Grid-related products and services for the Energy and Utility industries, announced the release of their Annual Report for the period ending June 30, 2010. The report on Form 10K as filed with the Securities and Exchange Commission is also posted in the Investor Relations section on the Company's website http://infraxinc.com/about-us/investor-relations. This year's annual report filing also contains composite schedules and footnotes reflecting the positive impact of the acquisition of Trimax Wireless, which was completed on June 29, 2009.
"Infrax Systems is pleased with the progress achieved during a difficult global market period. On an unaudited consolidated basis with Trimax, as previously stated in our 8K filing, the revenues in the period increased by over 10,000% to over $1.16 million if the companies would have been consolidated for the full year. At the same time, total liabilities and stockholder equity increased from $206 thousand to over $7.1 million, presenting a 3500% increase," states Paul J. Aiello, President & CEO, Infrax Systems, Inc.
"Based on our projections, we believe that we will achieve the $6 million dollars in revenue forecasted for the year ending June 30, 2011."
During the period, the Company strengthened its management team, enhanced its product portfolio, and issued a dividend in the form of common shares in Future World Energy (valued at $600K on 9/28/10), an emerging alternative energy company. We will continue to focus on execution, invest in our future and work diligently to increase value for our shareholders.
The Company has recently begun a new marketing campaign aimed at the Utility sector, including the launch of a new website, and development of branded collateral. The Company also made significant progress on the development of its secure networking products for the smart grid, including the finalization of the hardware design for its Secure Network Interface Card (SNIC) and the launch of the UMAX series of wireless backhaul products for substation and distribution automation.
Additionally, the share structure of the Company also changed with the acquisition of Trimax Wireless, Inc. As previously reported, a significant number of Preferred Shares were issued as part of the acquisition and a majority of these Preferred Shares have been converted to Common. These shares are subject to a restriction period per both Rule 144 and the previously announced Lock Up and Leak Out Agreement for both management and shareholders involved with the acquisition. Per the Lock Up and Leak Out Agreement, shareholders must wait a minimum of 12 months before selling any shares and thereafter are limited to 1% monthly.
"Looking ahead towards the balance of the fiscal year, we will continue to focus on securing the energy grid. We believe that security is a vital component and a critical element to ensuring complete Smart Grid performance," added Aiello. "Our products will continue to evolve in the months ahead and we are looking forward to continuing our progress towards being seen as the comprehensive communications and management solutions provider for global Smart Grid applications."
TECO trades on the NYSE (symbol TE) at about $17.00 a share currently. This Contract is in the 10-K But has not been announced in a news release yet. The Co. is working on getting authorization from TECO.
In August 2010, we received an order from USKS to deliver and install the next phase of the wireless network in Abuja, Nigeria. This phase will include WiMax/LTE capability.