|By Marketwire .||
|September 19, 2012 05:35 PM EDT||
WHITE PLAINS, NY -- (Marketwire) -- 09/19/12 -- iFinix Corp., a Nevada corporation (PINKSHEETS: INIX) (the "Company") authorized on July 3, 2012 a reverse stock split of one for one thousand five hundred (1:1,500) of its total issued and outstanding shares of common stock (the "Reverse Stock Split"). On July 3, 2012, the shareholders holding a majority of the total issued and outstanding shares approved the Reverse Stock Split. The Board of Directors considered certain factors regarding approval of the Reverse Stock Split including, but not limited to: (i) possible reluctance of brokerage firms and institutional investors to recommend lower-priced stocks to their clients or to hold in their own portfolios; (ii) current trading price of the Company's shares of common stock on the OTC Pink Sheet Market and potential to increase the marketability and liquidity of the Company's common stock; and (iii) desire to meet future requirements of per-share price and net tangible assets and shareholders' equity relating to admission for trading on other markets.
The Reverse Stock Split was announced by FINRA on its daily list on September 18, 2012. The Reverse Stock Split is effectuated on September 19, 2012 upon filing the appropriate documentation with FINRA. The Reverse Stock Split decreased the Company's total issued and outstanding shares of common stock from 2,863,614,415 to 1,909,076 shares of common stock. The common stock par value will remain unchanged. The shareholder record date is September 19, 2012.
About iFinix Corp.
iFinix Corp. is a company offering an integrated and advanced trading suite which combines order routing, trade management, charting, analytical information, news and fundamental data from major data and information sources into a single workstation. iFinix Corp. is also planning on acquiring various operating businesses.
For more information, please visit: http://www.ifinix.com
You should not place undue reliance on forward-looking statements in this press release. This press release contains forward-looking statements that involve risks and uncertainties. Words such as "will," "anticipates," "believes," "plans," "goal," "expects," "future," "intends," and similar expressions are used to identify these forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks we face as described in this press release. For further information about iFinix Corp., please refer to its website at http://www.iFinix.com