ST. PETERSBURG, FL, March 5, 2015 (GLOBE NEWSWIRE) -- Infrax Systems, Inc., (OTCQB: IFXY), a global provider of Internet of Things for the Energy and agricultural industries, today issued the following letter to its shareholders from our CEO, Mr. John Verghese:
You may be wondering what triggered this transaction between Infrax Systems, Inc. and HempTech Corp., and I would too if I were on the other side. So let me take this opportunity to give you some insights as to the background information and considerations that led us on this path. This business decision was done after much deliberations by the principals of both organizations and auditor review.
First of all, let me make it known that I have been involved with Infrax Systems from the very beginning and am very familiar with the market and products that represent Infrax Systems. Over the years, majority of the efforts, at Infrax Systems, were put into the development of a smart meter card for electric utilities and the smart grid. As you may have seen from a recent announcement, we completed the card and received FCC certification. We are now working on getting the card ANSI certified so that we can present it to our meter partner. Development is continuing to complete our secure communication node family of products. Over the years, employees have been wholly committed to completing the development of the product suite for smart grid.
HempTech Corp was formed to bring new technologies to the cannabis grow industry. While the Infrax Systems smart meter card and related technologies were built for the electric utilities, we realized that they can be used to address many of the needs in the much larger Internet of Things space. With that in mind, we began focusing on the agricultural and cannabis industries as an immediate avenue path to leverage Infrax Systems technology into a broader market in the rapidly expanding indoor grow industry. We saw vast similarities between the utilities and the grow facilities; Power and security.
Both industries are well behind others in technological advances. One generates power and the other consumes it and both are in need of energy management. Importantly, for both, security is an imperative measure. Every piece of the technological advances designed and developed by Infrax for utilities could be easily adapted to the agricultural industries and, of course, many others. For us, revenue generation is a key focus.
The benefits of the acquisition of HempTech Corp by Infrax Systems are:
1- Quick monetization of technology in this fast growing industry.
2- HempTech's recent contracts with vast revenue potential.
3- Combination of professional services of both companies to address the needs of both industries.
4- New products already developed and in a development stage with a much shorter time to market.
5- Ability to take advantage of some of the existing OEM agreements to benefit the development of products in both industries.
The products that are ready to be launched are the following:
1- GrowCOMM Solutions: A professional services and consulting entity that provide products and services from site development to first harvest for indoor specialized grow facilities.
2- Mithra: Intelligent Computer Controlled LED lighting network.
3- SmartNergy: Comprehensive computer based energy management system that provides monitoring and control of all energy use in a building or a grow facility.
4- SPIDer: Initially developed by Infrax Systems for substation security monitoring, repurposed to provide comprehensive security management for indoor and outdoor grow facilities.
5- SmartSense: A distributive sensor network similar to smart grid but tailored for grow facilities.
At the present time, the cannabis industry is quite fragmented on the technology front. Over the next several years, this industry is expected to have significant growth, especially from increasing favorable attitudes towards medical marijuana as they become legitimized in many more states. The acquisition of HempTech by Infrax Systems provides a unique opportunity to bring smart grid and Internet of Things technology into the grow industry and help HempTech to establish itself as the premium provider of technology and solutions while not getting involved in the end product itself. To our knowledge, there is no other company that brings technology from the smart grid and Internet of Things space to the cannabis grow Industry. HempTech Corp provides the most comprehensive suite of products from seed to sale for the commercial cannabis grow industry.
In conclusion, I hope I have successfully conveyed my belief that the acquisition of HempTech will only strengthen Infrax Systems. The products and services offered by HempTech Corp will provide a greater opportunity for near-term revenue and funding that in turn will help Infrax Systems complete the development of products that specifically address the utility market. We will keep you informed of the progress over the next few months. Please stay tuned for exciting announcements over the coming weeks.
CEO, Infrax Systems
About Infrax Systems
Infrax Systems offers a series of interrelated operational management, communications, and grid security related products and services known as Secure Intelligent Energy Platform (SIEP). Our products enable a comprehensive and unified solution for communications and applications management of the Smart Grid. SIEP™ incorporates a wide array of communications, security, device and data management tools for Smart Grid applications such as advanced metering solutions and grid optimization. SIEP platform creates a unified solution to securely manage Advanced Metering Infrastructure (AMI) and distribution automation. Infrax's secure smart grid platform, incorporates a communications transport and management system, (GridMesh™), device and data security management, and ultimately secures intelligent endpoint devices (SIED). The secure management of the "last mile" backhaul will be necessary for utilities to implement Smart Grid applications including AMI, real-time pricing, Demand Side Management (DSM), Distribution Monitoring and Automation. When combined, these applications can offer economic, operational and environmental benefits for utilities, and ultimately the utility's customers.
To request further information about Infrax, please email us at email@example.com, log onto our website at http://www.infraxinc.com or visit us at our Facebook page facebook.com/infraxsystems or on Twitter @infraxsystems.
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets. This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
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Source:Infrax Systems, Inc.