ST. PETERSBURG, FL, March 5, 2015 (GLOBE NEWSWIRE) -- Infrax Systems, Inc., (OTCQB: IFXY), a global provider of
Internet of Things for the Energy and agricultural industries,
today issued the following letter to its shareholders from our CEO,
Mr. John Verghese:
Dear Shareholders,
You may be wondering what triggered this transaction between
Infrax Systems, Inc. and HempTech Corp., and I would too if I were
on the other side. So let me take this opportunity to give you some
insights as to the background information and considerations that
led us on this path. This business decision was done after much
deliberations by the principals of both organizations and auditor
review.
First of all, let me make it known that I have been involved
with Infrax Systems from the very beginning and am very familiar
with the market and products that represent Infrax Systems. Over
the years, majority of the efforts, at Infrax Systems, were put
into the development of a smart meter card for electric utilities
and the smart grid. As you may have seen from a recent
announcement, we completed the card and received FCC certification.
We are now working on getting the card ANSI certified so that
we can present it to our meter partner. Development is continuing
to complete our secure communication node family of products. Over
the years, employees have been wholly committed to completing the
development of the product suite for smart grid.
HempTech Corp was formed to bring new technologies to the
cannabis grow industry. While the Infrax Systems smart meter card
and related technologies were built for the electric utilities, we
realized that they can be used to address many of the needs in the
much larger Internet of Things space. With that in mind, we began
focusing on the agricultural and cannabis industries as an
immediate avenue path to leverage Infrax Systems technology into a
broader market in the rapidly expanding indoor grow industry. We
saw vast similarities between the utilities and the grow
facilities; Power and security.
Both industries are well behind others in technological
advances. One generates power and the other consumes it and both
are in need of energy management. Importantly, for both, security
is an imperative measure. Every piece of the technological
advances designed and developed by Infrax for utilities could
be easily adapted to the agricultural industries and, of course,
many others. For us, revenue generation is a key focus.
The benefits of the acquisition of HempTech Corp by Infrax
Systems are:
1- Quick monetization of technology in this fast growing
industry.
2- HempTech's recent contracts with vast revenue potential.
3- Combination of professional services of both companies to
address the needs of both industries.
4- New products already developed and in a development stage
with a much shorter time to market.
5- Ability to take advantage of some of the existing OEM agreements
to benefit the development of products in both industries.
The products that are ready to be launched are the
following:
1- GrowCOMM Solutions: A professional services and consulting
entity that provide products and services from site development to
first harvest for indoor specialized grow facilities.
2- Mithra: Intelligent Computer Controlled LED lighting
network.
3- SmartNergy: Comprehensive computer based energy management
system that provides monitoring and control of all energy use in a
building or a grow facility.
4- SPIDer: Initially developed by Infrax Systems for substation
security monitoring, repurposed to provide comprehensive security
management for indoor and outdoor grow facilities.
5- SmartSense: A distributive sensor network similar to smart grid
but tailored for grow facilities.
At the present time, the cannabis industry is quite fragmented
on the technology front. Over the next several years, this industry
is expected to have significant growth, especially from increasing
favorable attitudes towards medical marijuana as they become
legitimized in many more states. The acquisition of HempTech by
Infrax Systems provides a unique opportunity to bring smart grid
and Internet of Things technology into the grow industry and help
HempTech to establish itself as the premium provider of technology
and solutions while not getting involved in the end product itself.
To our knowledge, there is no other company that brings technology
from the smart grid and Internet of Things space to the cannabis
grow Industry. HempTech Corp provides the most comprehensive suite
of products from seed to sale for the commercial cannabis grow
industry.
In conclusion, I hope I have successfully conveyed my belief
that the acquisition of HempTech will only strengthen Infrax
Systems. The products and services offered by HempTech Corp will
provide a greater opportunity for near-term revenue and funding
that in turn will help Infrax Systems complete the development of
products that specifically address the utility market. We will keep
you informed of the progress over the next few months. Please stay
tuned for exciting announcements over the coming weeks.
Sincerely,
John Verghese
CEO, Infrax Systems
About Infrax Systems
Infrax Systems offers a series of interrelated operational
management, communications, and grid security related products and
services known as Secure Intelligent Energy Platform (SIEP). Our
products enable a comprehensive and unified solution for
communications and applications management of the Smart Grid. SIEP™
incorporates a wide array of communications, security, device and
data management tools for Smart Grid applications such as advanced
metering solutions and grid optimization. SIEP platform creates a
unified solution to securely manage Advanced Metering
Infrastructure (AMI) and distribution automation. Infrax's secure
smart grid platform, incorporates a communications transport and
management system, (GridMesh™), device and data security
management, and ultimately secures intelligent endpoint devices
(SIED). The secure management of the "last mile" backhaul will be
necessary for utilities to implement Smart Grid applications
including AMI, real-time pricing, Demand Side Management (DSM),
Distribution Monitoring and Automation. When combined, these
applications can offer economic, operational and environmental
benefits for utilities, and ultimately the utility's customers.
To request further information about Infrax, please email us at
info@infraxinc.com, log onto our website at
http://www.infraxinc.com or visit us at our Facebook page
facebook.com/infraxsystems or on Twitter @infraxsystems.
Forward-Looking Statements
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.
CONTACT: Media Contact:
Infrax Systems, Inc.
investors@infraxinc.com
facebook: infraxsystems
Twitter: @infraxsystems
727-498-8514
