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Management of Infinity Acquisition Corp. Reduces Its Issued and Outstanding Shares by 180,000,000 Shares
Insiders Convert Stock to Coincide With Management's Long-Term Growth and Profitability Plan
BOCA RATON, FL -- (MARKET WIRE) -- 06/12/2006 -- Manny Shulman, President of Infinity Acquisition Corp., Inc. (PINKSHEETS: IFQJ) announced today that he and other key shareholders will be converting their common stock in the company to preferred shares. The company hopes this conversion will calm the equity markets by displaying a long-term commitment and investment by the management team. The long-term planning, growth, execution and increase in shareholder value of the company now runs parallel with the stock position in the marketplace. "This move solidifies my personal commitment and the commitment of several other large shareholders to the long-term growth and future of Infinity. This move creates accountability and ensures the stability and dedication of the management team," stated Shulman.
Currently, Infinity Acquisition Corporation has 304,762,186 shares issued and outstanding. Shulman and his group will be converting 165,693,600 shares from common stock to preferred stock and canceling an additional 15,484,000 common shares. This will leave 123,584,586 shares issued and outstanding.
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Infinity Acquisition Corp. Announces Board Decision to Issue a Stock and Warrant Dividend
BOCA RATON, FL, Jun 14, 2006 (MARKET WIRE via COMTEX) -- Infinity Acquisition Corp., Inc., (PINKSHEETS: IFQJ) A management, marketing and consulting firm announced today that the company's Board of Directors has elected to issue shareholders a stock and warrant dividend. During a meeting of the board on June 13, the board voted to issue a 5% stock dividend and grant two warrants per shareholder. The first is exercisable at $.15 per share on or before June 30, 2007 and the second exercisable at $.30 per share on or before December 31, 2007. The dividend and warrants will be distributed as a unit for the shareholders of record at the close of business on July 21, 2006. The unit will be distributed on July 31, 2006. The 5% stock dividend will come in the form of restricted stock. Infinity Acquisition Corp., Inc. will file a registration statement with the Securities and Exchange Commission and all necessary filings to register the shares for the warrant holders. Manny Shulman, President of Infinity, stated, "The Company has made tremendous strides in many different areas, from restructuring, recapitalization to the acquisition of companies that will help us attain our long term goals. Our shareholders have put tremendous faith in our management during these transitions and the Board recognizes that we would not have been able to makes these gains without our shareholders' trust. This dividend is a result of that belief in the company and its future."
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