Published: February 20, 2007
iFinix Corporation Discusses Company Agenda for 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.
Management
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."
Copyright © 2012, MarketWire
Copyright © 2012, NewsBlaze,
Daily News