CEO's Open Letter to Infrax Systems (IFXY) Shareholders
November 09 2012 - 12:23PM
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 and events. So let me
start with the most exciting one;
Infrax Systems was invited by Itron, as a sponsor, to showcase
its highly anticipated 2.4GHZ Secured Network Interface Card (SNIC)
built based on its Secure Intelligent Energy Platform. Infrax
showcased the relevance of security in today's world of Smart Grid
and how its ever growing product lines will build a solid barrier
against insidious intrusions through its initial product; "SNIC".
ITRON UTILITY WEEK 2012, hosted by one of the largest Meter
manufacturers in the world, is a premier international event with
hundreds of participants from utilities from all over the world.
The show was on October 21st in San Antonio TX.
We gathered impressive interest from some of the utilities
visiting the show and we believe we have become a viable
alternative to larger and more well-known competitors based on our
impressive and cost effective technology. We were approached by two
prominent utilities, with millions in customers, interested in
starting a dialogue for a possible pilot projects for their
customers. We will be in discussion with these entities to complete
all due diligent and proper documentation. We believe as we
continue completion of our products, we will be approached by other
utilities and vendors globally for joint development and sales of
our products.
We are also planning to file at least two more patents with the
United States Patent and Trademark Office by end of the year. As we
continue development of our products, we will file more patents to
ensure protection for our proprietary technologies.
LOCKWOOD IPO - We started preparing S1 for the spin-off of
Lockwood Technology. We have been in consultation with our
auditors, accountants and SEC counsel for their support and move
the process forward. We expect to file the S1 before the end of the
year. We believe with Lockwood's current pipeline, the Company
should flourish as a separate and independent public company.
We will update our shareholders as more information becomes
available through our Facebook page under Infrax Systems.
SALES ACTIVITY - The Company's backlog of proposal activity
substantially increased over the last two quarters. Interest in our
core products and development projects continue to increase. We are
in discussions with several large, nationwide distribution channels
to add our SPIDer products to their portfolios. We have been
working on a Master Sales Contract with one of the biggest
utilities in the country for our SPIDer product line. We hope and
expect to close this contract before the end of the year. Lockwood
technology continues to receive contracts from its previous
customers, many of whom are Fortune 500 Companies. Lockwood
Technology has been selected under a prime bidder to bid on a large
state contract for Enterprise Asset Management System (EAMS) for
the Government of an East African country. The status of $20M USD
bid is likely to be known by the end of the year. Lockwood
Technology is also participating in another bid for Enterprise
Asset Management System (EAMS).
In summation, I would like to thank our shareholders for
their patience and perseverance and will continue to keep them
apprised of our ongoing efforts and diligence to add value to their
investment and trust in Infrax Systems.
Thank you
Sam Talari
Acting CEO of Infrax Systems
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.
For INFRAX Systems information, contact Investors@Infraxinc.com
or visit www.infraxinc.com.
Forward-Looking Statements
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.
investors@infraxinc.com
727-498-8514
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