SOURCE: INFRAX Systems, Inc.

September 29, 2010 08:00 ET

Infrax Systems (IFXY) Releases Annual Report

The Power to Secure the Future

ST. PETERSBURG, FL--(Marketwire - September 29, 2010) -  Infrax Systems, Inc. (OTCBB: IFXY), a global provider of unified Smart Grid-related products and services for the Energy and Utility industries, announced the release of their Annual Report for the period ending June 30, 2010. The report on Form 10K as filed with the Securities and Exchange Commission is also posted in the Investor Relations section on the Company's website This year's annual report filing also contains composite schedules and footnotes reflecting the positive impact of the acquisition of Trimax Wireless, which was completed on June 29, 2009.

"Infrax Systems is pleased with the progress achieved during a difficult global market period. On an unaudited consolidated basis with Trimax, as previously stated in our 8K filing, the revenues in the period increased by over 10,000% to over $1.16 million if the companies would have been consolidated for the full year. At the same time, total liabilities and stockholder equity increased from $206 thousand to over $7.1 million, representing a 3500% increase," states Paul J. Aiello, President & CEO, Infrax Systems, Inc. "Based on our projections, we believe that we will achieve the $6 million dollars in revenue forecasted for the year ending June 30, 2011."

During the period, the Company strengthened its management team, enhanced its product portfolio, and issued a dividend in the form of common shares in Future World Energy (valued at $600K on 9/28/10), an emerging alternative energy company. We will continue to focus on execution, invest in our future and work diligently to increase value for our shareholders.

The Company has recently begun a new marketing campaign aimed at the Utility sector, including the launch of a new website, and development of branded collateral. The Company also made significant progress on the development of its secure networking products for the smart grid, including the finalization of the hardware design for its Secure Network Interface Card (SNIC) and the launch of the UMAX series of wireless backhaul products for substation and distribution automation.

Additionally, the share structure of the Company also changed with the acquisition of Trimax Wireless, Inc. As previously reported, a significant number of Preferred Shares were issued as part of the acquisition and a majority of these Preferred Shares have been converted to Common. These shares are subject to a restriction period per both Rule 144 and the previously announced Lock Up and Leak Out Agreement for both management and shareholders involved with the acquisition. Per the Lock Up and Leak Out Agreement, shareholders must wait a minimum of 12 months before selling any shares and thereafter are limited to 1% monthly.

"Looking ahead towards the balance of the fiscal year, we will continue to focus on securing the energy grid. We believe that security is a vital component and a critical element to ensuring complete Smart Grid performance," added Aiello. "Our products will continue to evolve in the months ahead and we are looking forward to continuing our progress towards being seen as the comprehensive communications and management solutions provider for global Smart Grid applications."

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, (Grid Mesh™), 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.

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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.

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