iFinix Corp. (PINKSHEETS: INIX), a provider of real-time financial information and services to active traders and to the securities industry, announced today that iFinix is in the final stages of bringing the iFinix Capital Division online.
iFinix will launch the Capital Equities Division in two phases. Phase I will target the retail market and is expected to be up and running within three weeks. Phase II will target the online trader and is expected to be available within 30-60 days. Once available, iFinix Capital will provide the company with its third revenue stream. This will have an immediate and positive impact on overall corporate revenues.
iFinix has also completed an extensive cost-benefit analysis of its RealTime product. Current subscription revenues are not covering the operational costs and thus dictate the suspension of the product for the near-term. The company will now be able to deploy additional financial resources to the Futures, Forex, and Equities divisions where we have identified a direct correlation between the number of dollars spent on marketing versus the return on investment. This is a very positive move for the company as this will translate into a much healthier financial profile. iFinix RealTime will continue to be developed along with eFinix and iFinix Trader for future integration of these three services into the marketplace.
CEO Benhope Munroe stated, "We would have preferred to continue the RealTime service, however by focusing financial and human resources on these subsidiaries that we believe have the greatest near-term potential, our profit and loss statement should be greatly improved by the fourth quarter. iFinix has received very positive feedback on RealTime's performance from its current subscribers and believe the low number of subscriptions is economy driven. In addition to a thorough corporate update, I will deliver a completely revitalized business plan for the iFinix Software division at the company's shareholders meeting this September. Also the company will have a conference call on Wednesday, July 14th 2010 to answer any questions about the company's developments."
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 RealTime, iFinix Trader and eFinix. Visit http://www.iFinix.com (http://www.iFinix.com) , www.ifinixsoftware.com (http://www.ifinixsoftware.com) , www.proactivefutures.com (http://www.proactivefutures.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.