million shares on the market.It seems that the most probable reason for the stock jump turns out to be the recent promotions of INIX. According to stockpromoters.com, Ifinix was promoted six times yesterday, stating that no compensations for the promotions have been paid. Though, the stock immediately caught the up move and the high trade began.
iFinix is an information technology services and solutions company with expertise in systems integration, outsourcing, infrastructure and server technology. The latest news about Ifinix came up last week, when the company announced that its subsidiary iFinix Capital was ready to begin active operations. However, no definite date for the opening was provided.[BANNER]
In the meantime, the company filed its results for the third quarter of this year. Infinix reported revenues of about $135.5 thousand and a loss of approximately $106.6 by end-September. The management of Ifinix believes that “with continued increase in revenue the company will soon be able to turn a profit”, however, the company’s accumulated deficit is over $8 million.
According to its financial report, “in order to execute its business plan, the Company will need to raise additional working capital and generate revenues”, otherwise, there is a substantial doubt about its ability to continue operation.
