HARRISON, N.Y., Nov. 26, 2013 (GLOBE NEWSWIRE) -- iFinix Corp (Pink Sheets:INIX), a consulting and management holdings company consisting of several subsidiaries, announced today that the company has acquired the rights to acquire multiple AM and FM radio station licenses plus the complete library content from Beach City Entertainment. This part of the acquisition, valued at approximately 2 million dollars, when added to the previous acquisition valued at approximately 1 million dollars and the intellectual property value of 1.5 million dollars placed on the company's software, iFinix's has increased its asset value to approximately 4.5 million dollars.
With these properties in place, iFinix CEO Ben Munroe stated, "The company has fought hard to get to this point where with Vince Vellardita heading up our media division and Ricardo Brillion managing our software development, we are now positioned to begin monetizing our holdings."
"With iFinix's management and software developing capabilities, we will be able to successfully launch the world's first beach themed radio network which will broadcast on AM and FM radio stations and on the internet. We will also be able to offer our listeners the opportunity to purchase their favorite music and movie titles by downloading the content directly from the site," stated Vince Vellardita.
Mr. Brillion added, "We continue to work diligently on our suite of products, making them more robust and up to date with other technology that is currently being utilized. We have taken into consideration the feedback received from our previous release and have incorporated many of the features that were requested. I look forward to the completion and release of the software in the future."
About iFinix Corp.
iFinix Corporation is a consulting and management holdings company that consists of several subsidiaries. Our people combine expertise in systems integration, outsourcing, infrastructure, server technology and consulting with precision thinking and relentless execution to help clients. iFinix is developing a product line that delivers financial and business information with streaming, real-time market data, news and analytics to professionals and active individual investors. The company's suite of products includes iFinix RealTime, iFinix Trader and eFinix. www.ifinix.com www.buildmasters.us .
Legal Notice Regarding Forward-Looking Statements:
Safe Harbor: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of iFinix Corporation to be materially different from the statements made herein.
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