Name Change, New Location, Acquisition of JP Developers of Texas, Audit Status
HOUSTON, TX / ACCESSWIRE / July 25, 2024 / 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. Mr. Jose Pineda stated, "I am excited about the route we have chosen for our company. Although it has taken a while to put the foundation in place, shareholders can expect to see many exciting changes over the next few months. Going forward, I want to express my commitment to quick execution of the plan, and the long-term success and shareholder value of our company."
The Company plans to change its name to US Standard Capital and is currently preparing supporting documentation for the name change application. We expect the application to be filed with FINRA in the next month or two. The Company has launched a new web site at www.usstandardcapital.com.
The Company is moving into its new corporate offices at 5210 Woodway in Houston, TX, this week. The new offices provide ample space for growth and a centralized location with easy access to the main business districts in the city.
The Company plans to acquire JP Developers of Texas (www.jpdevelopersoftexas.com) by September 2024. The Company has identified four other companies in the real estate and construction markets as acquisition targets and plans to move forward with these acquisitions aggressively over the next few months.
The Company has made significant progress on its audits for fiscal years 2022 and 2023, which were initiated a few months ago. The audits for these periods should be completed in the next few weeks. The Company will initiate an audit of its 2024 fiscal year in the near future.
The Company is positioning itself to become a direct filer with the SEC and expects to begin direct filing sometime in the 2025 fiscal year which began on July 1, 2024. Since we have a name change pending and several acquisitions planned for the second half of the calendar year, the exact timing of filing our first Form 10 is still vague. We are moving forward aggressively to file it in as soon as practicable.
About Infrax Systems, Inc.
Infrax Systems, Inc. is focused on acquiring assets and companies in the real estate sector, including housing development, construction, remodeling, and financing. The Company also provides products and services that address the various challenges faced by Latin American immigrants.
Contact Information:
https://twitter.com/InfraxInc
https://twitter.com/jpineda100
https://www.usstandardcapital.com/
https://www.jpdevelopersoftexas.com/
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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