Saint Petersburg, FL, June 4, 2013 (GLOBE NEWSWIRE) -- Infrax Systems, Inc., (OTC.BB: IFXY), a global provider of Smart Grid-related products and services for the Energy and Utility industries, today issued the following letter to our shareholders from our Chairman & Acting CEO Sam Talari:
Dear Fellow Shareholders,
As an acting CEO of Infrax Systems, I would like to update all of our shareholders on our current business events;
1- Infrax System is proud to announce that it was chosen to participate in a RFP for a Pilot project showcasing its Smart Grid technology for (a potential of) thousands of utility's customers. This Pilot project, if won, will be Company's first ever project promoting our superior Smart Grid technology to the utilities around the globe. We expect rapid expansion of sales and marketing efforts to start after the completion of the Pilot project.
With close to $2 trillion at stake, growing peak demand and ageing electrical grid taunting the global markets, there is a rush around the globe, by Companies such as Infrax, to move the antiquated power industry into the 21 century. As a public Company, our responsibilty to our shareholders is to acquire revenue and taking a chunk of the $2 trillion market, but our foremost struggle will always be to secure our national infrastructures, hence securing our country from insidious forces.
2- The board of directors of Infrax Systems is considering special class Convertible Preferred Stock as dividend to its shareholders to honor and reward their investment in the Company. The considered Convertible Preferred Stock will have the following designations: 1) Non-Dilutive, 2) Yearly Possible Dividend, 3) Registration Rights, 4) and other rights associated with Preferred Shares. The considered Convertible Preferred Stock dividend will assure all the shareholders of the Company to be part of its success moving forward. The considered Convertible Preferred Stock may also protect the investors from the Common Stock price volatility.
3- Due to important upcoming events, the management and a majority investor of the Company have converted majority of their salaries, notes and loans to the Company into Convertible Preferred Stock. This move by the management and the investor will dramatically improve the financial health of the company, specially its balance sheet. It also conveys management and the investor's confidence in the future of the Company. The total amount converted into Preferred Stock is $1,654,000.
In summation, Infrax Systems has taken important steps in solidifying its presence within the power industry. It has fulfilled its technological premise by its advances in the smart Grid technologies and securitizing the power grid through its "Smart Grid 2.0" development. With new revolutionary products within the horizon and major partnerships in works, we believe that the light of our technology will shine our way toward revenue and profitability starting in 2013.
Sam Talari, Acting CEO of Infrax Systems
Opportunity - Smart Grid Evolution - Market Stats
• $2 trillion - total investment anticipated by all government entities and utilities to achieve full smart grid penetration
• $480 billion - anticipated cost of smart grid-related upgrades in the United States alone
• 832 million - estimated number of smart meters that will be installed by 2020
• $100 billion - estimated revenues associated with the deployment of global smart meters by 2020
• $90 billion - the investment that China plans to make in smart grid technology by 2020
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.
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.
CONTACT: Media Contact: Infrax Systems, Inc. firstname.lastname@example.org 727-498-8514
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