Reaffirms Corporate Vision and Outlines Roadmap for Future Activities
SPRING, TX / ACCESSWIRE / October 25, 2023 / Infrax Systems, Inc. (OTC PINK:IFXY) (the "Company") is pleased to provide shareholders with an update of recent activities and its near-term plans going forward. To recap past events, in late 2022, the Company had to cancel its first acquisition due to an internal situation with the target company that was discovered during the due diligence phase. Mr. Carey Cooley, CEO, stated, "My primary goal is to protect shareholders at all costs. In order to do so, we had to unwind the prior deal to guarantee that IFXY was not on the hook for past internal problems of one of its acquisitions. Although it was a painful process, the only way to do that was to take a step back, trim the fat, reevaluate, and then come back and move forward with the right structure and people involved."
Since resolving the initial issues, Mr. Jose Piñeda has rejoined the team as its President. Mr. Piñeda will primarily be responsible for identifying the right companies to acquire to achieve our vision and ensuring that the acquisitions are completed. The Company's vision remains the same: to provide the immigrant population in the US, primarily from Central America, with the desired products and services they need to maintain their connections with their native nations while they integrate into American society.
The Company would like to highlight the following items:
In April 2023, the Company completed its acquisition of Tu Abogado Facil ("Your Easy Lawyer"), a cutting-edge online marketplace designed to bridge the gap between Central American lawyers and immigrants seeking legal assistance in their home countries. More updates on current and future business regarding Tu Abogado Facil will be released soon.
We have engaged an audit firm and expect to complete a PCAOB audit by the end of the calendar year. Upon completion of the audit, the Company plans to become a fully reporting direct filer with the SEC.
The Company has identified five additional target companies that it plans to acquire throughout the 2024 calendar year, many that have already made verbal agreements to be acquired. More details on each of these companies will be provided as the acquisition process moves forward, but we are very excited about our short and long term future ahead.
Lastly, the Company plans to change its name to Toditito, Inc. to better reflect its corporate vision, and will file a name change request with FINRA in the near future. We would like to let shareholders know that no new shares have been issued since we first acquired the Company, and that there are no current plans for a reverse split to achieve our current goals. We will address any need to restructure the Company down the road if we decide to move to an exchange.
About Infrax Systems, Inc.
Infrax Systems, Inc. is a brand incubator and accelerator for products and services that address the various challenges faced by Latin American immigrants, such as: nostalgic products and distribution of familiar foods from their home countries, easy access to legal services, insurance solutions, non-traditional remittances management, peer to peer financing and other technology driven solutions that create a sense of community providing peace of mind and improving the quality of life of our clients supporting their integration in America without losing their identity and connection to their native nations.
Contact Information:
https://twitter.com/jpineda100
Shareholder/Investor inquiries for Infrax Systems, Inc.:
Infrax Systems, Inc.
1-888-204-4134
ir@infraxinc.com
Safe Harbor Statement: In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
SOURCE: Infrax Systems, Inc.
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