iFinix updates shareholders on Company's Position
September 16 2008 - 3:57PM
PR Newswire (US)
GARDEN CITY, N.Y., Sept. 16 /PRNewswire-FirstCall/ -- iFinix Corp.
(Pink Sheets: INIX) a provider of real-time financial information
and services to active traders and to the securities industry, is
pleased to update its shareholder base. During a comprehensive
meeting of the Board of Directors, which took place this past
weekend, the Board of iFinix thoroughly reviewed all aspects of the
Company's business, and has determined that the Company and its
shareholders would be best served by channeling all its resources
to develop the potential of the Company's commodities, futures and
foreign currency exchange platforms. The Board's decision was based
on the fact that the Commodities/ Futures market trades over 2
trillion dollars daily in volume versus 2 billion dollars on the
New York Stock exchange. It is the Board's belief that due to
recent developments in the equities market, investors will be
looking for alternative investments other than equities. The Board
believes that in the future the public will seek out investments in
"solid assets" rather than "theoretical assets. iFinix recently
acquired ProActive Futures, where it has already introduced new
procedures that are expected to greatly enhance ProActive's
profitability derived from the currently existing revenue base.
Additionally, the Company is nearing an agreement with a formidable
trading group to launch a Manhattan based location. When completed,
the revenues and profits of ProActive should increase dramatically.
The Board also decided that since ProActive Futures has a three
year history of operations it would be beneficial to maintain the
"brand name". However, the website will be redesigned to indicate
that ProActive Futures is a division of iFinix. In line with the
new direction the Company is taking, the Board intends to move
aggressively to complete the acquisition of the on line equities
trading firm that iFinix has recently been in negotiations with.
ProActive is also pursuing a joint venture with an established
Forex trading firm to expand their reach into that market place. To
help expedite the execution of this plan, the Company is forming an
advisory committee comprised of individuals with a diversity of
talents and experience in building successful businesses within the
financial services industry. This will allow the Board of Directors
to have an extensive knowledge base to draw from in order to assist
them in properly steering the company. Douglas Spadaro, Chairman of
iFinix, added the following, "As a result of the Board's
deliberation, it was decided to temporarily withdraw iFinix
Realtime from the market, and return it to the developers for a
complete revision and upgrading. After certain enhancements are
completed, this will allow us to reintroduce Realtime to our
subscribers as a more viable and cutting edge product." There were
many more initiatives mandated by the Board of Directors, which we
will apprise our shareholders of in the next few days. About iFinix
Corp. iFinix is a diversified information technology services and
solutions company with expertise in systems integration,
outsourcing, infrastructure and server technology. iFinix has
established a product line that delivers financial and business
information with streaming, real-time market data, news and
analytics to professionals and active individual investors. The
company's suite of products includes iFinix Real-time, iFinix
Trader and eFinix. Visit http://www.ifinix.com/ Legal Notice
Regarding Forward-Looking Statements: Safe Harbor: This press
release contains forward-looking information within the meaning of
section 27A of the Securities Act of 1933 and section 21E of the
Securities Exchange Act of 1934 and is subject to the Safe Harbor
created by those sections. This material contains statements about
expected future events and/or financial results that are
forward-looking in nature and subject to risks and uncertainties.
Such forward-looking statements by definition involve risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of iFinix Corporation to be
materially different from the statements made herein. Contact:
iFinix Corporation Investor Relations 516-504-3981 x301 DATASOURCE:
iFinix Corp. CONTACT: iFinix Corporation, Investor Relations,
+1-516-504-3981 x301 Web site: http://www.ifinix.com/
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