Audit Status, New Location, Acquisition of JP Developers of Texas
HOUSTON, TX / ACCESSWIRE / September 10, 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.
The Company has completed its move into its new corporate offices at 5210 Woodway in Houston, TX. The Company has also relocated JP Developers of Texas to our new office space. As previously disclosed, the Company plans to acquire JP Developers of Texas (www.jpdevelopersoftexas.com) as soon as our 2022 and 2023 audits are complete.
The Company has submitted responses to its auditors for all outstanding items requested for the fiscal year 2022 and 2023 audits, so we expect them to be completed in the next few weeks. We will then immediately move forward with an audit of our fiscal year 2024 which ended on June 30, 2024.
The Company has identified four other companies in the real estate and construction markets as potential acquisition targets and plans to move forward with one or more of these acquisitions aggressively over the next few months.
The Company has paid a retainer to engage an attorney to assist with the preparation of an S-1 registration statement. We are currently compiling the diligence items required for the filing, and we will include the necessary financial information once the 2024 audit is complete.
The Company plans to change its name to US Standard Capital, Inc. The Company has filed a dba and is currently doing business as US Standard Capital. Our attorneys have recommended that we wait to file the name change application with FINRA until our S-1 becomes effective to avoid having too many moving parts during the review process. The Company has launched a new web site at www.usstandardcapital.com.
Mr. Jose Pineda, President of the Company, stated, "We continue to push forward with the items discussed in our previous release that are necessary to become a direct filer. It is tedious, time-consuming work, but it is well worth the effort as we are laying a solid foundation for future growth. The pace of our progress should increase significantly once we are through this stage of our corporate development. I am looking forward to sharing all our plans with our shareholders as soon as we are able."
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 is currently doing business as US Standard Capital and plans to change its name to US Standard Capital, Inc. in the near future. 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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