SOURCE: iFinix Corp.

February 20, 2007 11:00 ET

iFinix Corporation Discusses Company Agenda for 2007

JAMAICA, NY -- (MARKET WIRE) -- February 20, 2007 -- iFinix Corp. (PINKSHEETS: INXR) released today a comprehensive overview of iFinix's corporate strategy and goals for 2007. Chairman Drew Budhu commented, "As iFinix embarks on an accelerated entry into the financial marketplace with its comprehensive line of real time and trading platforms, the level of inquiry from prospective users of our products, shareholders and potential investors has increased dramatically. The following summary will prepare our clients for their future with iFinix and address shareholder concerns at this opportune turning point in our corporate history."

Core Objectives

iFinix CEO Doug Spadaro stated, "iFinix's objectives are three-fold. We will deliver quality real time trading tools and execution platforms to the financial marketplace at a competitive price, effectively support our subscribers and eliminate any obstacles that limit achieving solid returns for our shareholders. We consider these objectives to be more than mere goals. They are our obligations to the consumers and shareholders who support us and whom we work for."

iFinix Financial Products

The iFinix product suite will initially consist of three products. After conducting extensive market research, the company will rebrand their product suite along the following lines:

iFinix RealTime is the desktop real time platform being prepared for release. The modular components offered include Streaming Quotes with unlimited ticker lists, Level 2, Time & Sales, Alerts, Charting, Streaming News, Financial Content and Market Research.

iFinix RealTime will also be upgraded soon after release to include stock screens and real time scanners with fully configurable market motion filters. iFinix will be including these added functions at no extra cost to provide a superior value and competitive product.

iFinix Trader will add trade execution functionality and account management features to the iFinix RealTime platform. iFinix Trader will integrate with partnered broker-dealers thus affording iFinix users high speed trade executions at a range of brokerages. iFinix Trader will be made available both to retail traders and professional organizations.

With iFinix RealTime rolling out first, iFinix Trader will go to market release as new brokerage partnerships are announced. Users will be able to trade and manage multiple iFinix-partner brokerage accounts aggregated within a single iFinix Trader environment. With the ability to hook into an assortment of high-speed direct access brokers, iFinix will continue to expand your trading choices as each new broker joins our network.

Efinix is a web enabled version of iFinix Trader that will run on desktops and on mobile devices. With Efinix, you will be able to track the markets, manage your portfolio and trade online using the same execution features as iFinix Trader. Efinix is in advanced stages of development and being prepared for release.

Product Strategy

iFinix's business model is subscription based for iFinix RealTime and Efinix. Users that trade through a participating brokerage will receive iFinix Trader on a low or no cost basis. iFinix will receive a percentage of each commission fee from trades executed using iFinix Trader.

Due to the large range of brokerage services and tools investors employ, this diversified business model ensures iFinix products will be available in all contexts and the company will generate an income under all scenarios.

iFinix will offer various subscription pricing tiers for essential platform services plus add-on services and extra exchanges at a cost less than the basic and total package prices of other vendors with comparable offerings.

As market penetration of the iFinix platforms increase, communications protocols for other programmers will be made available to encourage the building of product add-ons. The company will partner with these developers and assist in the marketing of these value-added products.

All iFinix product is coded by iFinix. Earlier iFinix product demos are no longer active or to be considered representative of market-ready products soon to be released. Free product trial subscriptions will be offered when each product is released.

Product Support

When iFinix RealTime is officially released, live technical support will be provided via chat messaging on the iFinix website and by email on weekdays from 8 a.m. - 6 a.m. EST. The company guarantees weekend support requests will be resolved by Monday market open.

Live support hours may be expanded later as the user base expands. Chairman Drew Budhu will go to India soon to review current development efforts and to finalize the training of tech support staff, initiate support tracking procedures and establish knowledge base protocols.


iFinix was founded by Drew Budhu, a specialist in distributed computing environments. Mr. Budhu is the chief architect of iFinix products and technology initiatives

Mr. Budhu comments, "I have held fast to my vision of making iFinix a value-added proposition for both the consumer marketplace and our shareholders. I worked hard to keep our company going until we reached the threshold of delivering product to the marketplace and we are finally on our way. We have no debt, take marginal salaries, keep our costs lean and are determined to grow the company in 2007."

CEO Doug Spadaro has held management positions at Citicorp, ABN/AMRO and Paget Group and has an extensive background in financial services. He is involved in strategic planning, daily operations and developing the broker-dealer network for iFinix trading products.

Ricardo Brillon is the Chief Information Officer of iFinix. Mr. Brillon develops the core programming of iFinix product while project managing additional outsourced development teams, including about a dozen developers currently working full-time on iFinix products in India.

Naveen Vasudevan is the lead project manager in India who oversees the local workforce dedicated to iFinix software development and technical support.

Craig Eckert is CEO of iFinix subsidiary, R&B Computer Systems Inc. With over 20 years of technology experience and an engineering and management background, Mr. Eckert has developed strategic relationships with companies such as Ernst & Young, Accenture, Nortel, IBM, Compaq, EDS, Lucent and Goldman Sachs.

Subsidiaries and Acquisitions

R&B Consulting is presently the only iFinix subsidiary. Under Mr. Eckert's full-time guidance, R&B is currently partnering with regional and international technology consultancies as a personnel and solutions provider. Drawing on Mr. Eckert's experience, iFinix expects R&B to contribute revenues in 2007 and grow significantly in the following year.

Mr. Eckert is responsible for locating acquisition targets that would increase iFinix revenues and generate profits. Several private companies presently operating with positive cash flow are under consideration. R&B has already qualified for a Small Business Administration loan that would facilitate a contemplated acquisition in full without any need for dilution of iFinix shareholder equity.

Mr. Eckert's oversight of this separate entity ensures there will be no loss of focus on the primary financial products and services business of iFinix.

Affiliations & Partnerships

iFinix has in place all data feeds through agreements with CMA, Comtex and Pink Sheets. CMA is currently a major financial data provider to the Latin American trading markets. The iFinix and CMA association already extends beyond access to CMA exchange feeds. As iFinix grows, the synergies between the two companies may then be extended towards mutually obtaining market share in their respective North and South American markets.

Other partnerships will be explored on a regular basis as iFinix seeks to expand their products and services and increase their market reach to include all levels of retail users, professional traders, proprietary trading shops and brokerage houses. As the iFinix customer base grows, the company will explore the possibility of applying for its own broker-dealer license and thus become a fully leveraged financial services provider and brokerage house.

Corporate Governance

In positioning the company for a listing on the OTCBB exchange, iFinix has adopted policies of full disclosure and corporate transparency. 2006 annual financials are nearing completion and should be made publicly available within several weeks. At that time all itemized insider share positions, including restricted stock, will be stated. And recent corporate governance actions enacted to fully align management with shareholder interests will be disclosed.

Mr. Spadaro concludes, "iFinix is approaching critical mass as a product developer about to release a series of excellent products, as a company evolving from start-up to a serious market competitor and as a publicly traded equity that was once abandoned by the markets and is now a vital trading issue. We are gratified by the growing interest in iFinix and this management team is focused on restoring value to our shareholders by virtue of great products, hard work, ethical management practices and clean corporate governance policies."

Contact Information

  • iFinix Corporation
    Investor Relations
    516-504-3981 x301