Infrax (IFXY) Announces Shareholder Update - We are now Block Capital Corp - Company Implements Share Buyback Program
ST. PETERSBURG, Fla., June 22, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire – Infrax Systems (OTC:IFXY), a global provider of Internet of Things, Blockchain technology consulting and ICO consulting services, announces shareholder update;
After many weeks of deliberations and discussions we have decided, alongside the name change, to recapitalize the company by implementing the following;
- Name change from Infrax Systems, Inc to Block Capital Corp effective immediately with the approval of FINRA. We have asked for "BKCP" for ticker name.
- 1 for 400 reverse split effective immediately with the approval of FINRA.
- 4 for 1 forward split effective post reverse split with the approval of FINRA.
The decision on the reverse split was based on the following considerations;
- Ongoing Sub-Penny manipulation by the market makers and larges retail traders, hedge funds and pumpers.
- Lack of legitimacy of companies belonging to the sub-penny equity world.
- Lack of funding from legitimate sources for expansion purposes.
- Lack of ability to hire quality employees, consultants and executives.
- Negative associations of a sub-penny company with our current portfolios such as Prutus, MoMu and ICOHubs.
- Limited to non-existence acquisition strategy for a sub-penny company.
- Other important factors including OTCQB and OTCQX qualification rules.
We foresee none to limited effect on shareholders equity based on the following;
- Company has no debt.
- Unavailability of stocks from any sources to dilute or pressure the share value.
- Retiring or reduction of insider shares back to non-common structure.
- Company has revenue producing subsidiaries.
- Company is implementing share buyback as dividend every quarter
- Company has exciting new projects including Prutus and MoMu.
- Company signing on other ICO projects.
We will inform our shareholders on the progress of the events as they are available.
About Block Capital Corp
Block Capital invests in crypto assets, provides blockchain technology consulting, ICO process consulting services and tokenization of assets.
To request further information about Infrax, please email us at email@example.com, log onto our website at http://www.infraxinc.com or http://www.blockcapitalcorp.com visit us at our Facebook page https://www.facebook.com/blockcapitalcorp or on Twitter @realcryptocorp.
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. This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
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