Infrax Systems Inc (OTCMKTS:IFXY) saw some heavy trading before the end of the year. IFXY saw a billion hands change hands at times in November. Even now, volume is still heavy with the 10-day average at 162.72M. The driver for this change – and you can see it in the chart – was the merging with a cryptocurrency company called Cryptocurrency Corp..
Recently, IFXY noted that it had signed contracts with three companies on ICO consulting and services, which may raise “millions of dollars in funds.” While the current cycle has slowed down some of the ICO news, there is still plenty of opportunity to
Infrax Systems Inc (OTCMKTS:IFXY) focuses on the Smart Grid energy sector. It creates a unified solution path to manage Advanced Metering Infrastructure (AMI) and other Smart Grid optimization applications, such as substation and distribution automation. Its product portfolio provides Network Transport and Management, Secure Intelligent Devices, and Grid Optimization, all integral components of a Smart Grid solution. Through its wireless broadband business unit, Infrax Networks, it provides outdoor mesh-relay-based wireless broadband networks used by customers as the metro-scale Internet Protocol (IP) foundation upon which to run one or many applications. Its networks are used by electric utilities to build networks that deliver the high bandwidth and low latency required for deploying smart grids. Its Secure Network Interface Card (SNIC) and GRid Intrusion Management (GRIM) systems provide a Cyber Security platform, which prevents unwarranted intrusion into any part of the electrical grid.
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According to the company, here is the current business model: “Cryptocurrency Corp is a blockchain company formed to build ecosystems using distributive ledger technologies and trustless trust platform for all industries. Our mission involves introducing a trustless verification system with full transparency into the supply chain with decentralized blockchain verification at every step. Our technology has the potential to become one of the most used and valuable products in the FinTech industry, potentially becoming ubiquitous across all industry participants. We also provide full-stack ICO support for blockchain venture empowering high-tech crypto entrepreneurs and investors in order to create the next wave of highly innovative blockchain startups.”
Short sellers were heavily in this stock before the company released some financial reports. They were causing serious volatility concerns, but after the report, they seemed to close their positions.
On January 9, 2018, the market received the IFXY’s annual report with the income statement, no revenues were reported, and the net income showed a loss of $39,008, which was expected. The amount of total assets is equal to $758,910, the amount of total current liabilities is $511,333, and the entire non-current liabilities is $342,852. After this news hit the market, IFXY saw shorts fall by 60%.
Infrax Systems Inc (OTCMKTS:IFXY) is an exciting story in the space and if investors are going to jump, they may want to make a move before an upcoming ICO. After an ICO launch, IFXY could make another run. IFXY has a $12.53M and 1.69B shares outstanding and we will be tracking this company as the news colors out. Sign-up for continuing coverage on shares of $IFXY stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $IFXY, either long or short, and we have not been compensated for this article.