Infrax Systems, Inc. Completes its Acquisition of Mi Pulpe LLC
Rhea-AI Summary
Infrax Systems (IFXY) has successfully completed its acquisition of Mi Pulpe LLC, a US importer and distributor of Latin American food and beverages, as of July 29, 2022. This strategic acquisition, valued at an undisclosed amount, allows IFXY to benefit from Mi Pulpe's revenue of over $22 million in 2021 and a strong market presence. The transaction is non-dilutive for current shareholders, and Alnost USA now holds approximately 53% of IFXY's voting rights, indicating a significant change in company control. Future plans include expanding Mi Pulpe's revenue and developing new business goals.
Positive
- Acquisition of Mi Pulpe LLC, enhancing product offerings in the Latin American market.
- Mi Pulpe reported revenues exceeding $22 million in 2021.
- Strategic goal to double Mi Pulpe's revenue run rate in the next 12-18 months.
Negative
- None.
News Market Reaction – IFXY
On the day this news was published, IFXY declined 20.97%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
SPRING, TX / ACCESSWIRE / August 2, 2022 / Infrax Systems, Inc. (OTC PINK:IFXY) announced today that it has completed its acquisition of Mi Pulpe LLC, an US Master Importer & Distributor of specialty nostalgic food and beverage products catering to the Latin American market segment. Effective July 29, 2022, IFXY purchased
Mi Pulpe imports and distributes Latin American snacks, drinks, ready-to-eat food, and cooking products through its retail and wholesale distribution centers in Florida and New York, its Amazon store, and direct-to-consumer from its mipulpe.com website. Mi Pulpe revenues exceeded
IFXY will be introducing its new management team, as well as additional information on its business goals, over the next few weeks. IFXY will be filing an application with the Financial Industry Regulatory Authority ("FINRA") for a change of the issuer's name and symbol to better reflect the Company's overall strategy. The company has already begun the process of selecting an auditing firm in anticipation of exceeding the minimum thresholds for becoming a mandatory SEC filer in the next 12 months.
About Infrax Systems, Inc.
Infrax Systems, Inc. is a brand incubator and accelerator. The company plans to build a portfolio of revenue-generating product brands to develop new sales channels and increase brand awareness and revenues.
About Mi Pulpe LLC.
MI PULPE is an US Master Importer & Distributor of specialty nostalgic food and beverage products catering to the Latin American segment and is expanding rapidly to other cross over market segments with new and exciting products.
Contact Information:
https://twitter.com/InfraxInc
https://twitter.com/jpineda100
https://twitter.com/MiPulpeHN
https://mipulpe.com/
Shareholder/Investor inquiries for Infrax Systems, Inc.:
Infrax Systems, Inc.
1-888-204-4134
ir@infraxinc.com
Safe Harbor Statement: In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance, and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that would cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
SOURCE: Infrax Systems, Inc.
View source version on accesswire.com:
https://www.accesswire.com/710589/Infrax-Systems-Inc-Completes-its-Acquisition-of-Mi-Pulpe-LLC
FAQ
What is the purpose of Infrax Systems' acquisition of Mi Pulpe?
How much revenue did Mi Pulpe generate in 2021?
What percentage of voting rights does Alnost USA hold in Infrax Systems after the acquisition?
What are Infrax Systems' future plans following the acquisition of Mi Pulpe?
