JAMAICA, NY--(MARKET WIRE)--Aug 18, 2006 -- The Board of Directors of iFinix Corporation (Other OTC:INXR.PK - News) is pleased to release the results of a preliminary study of our prospective market size, potential market share and subsequent revenue potential. ADVERTISEMENT
Corporate Chief Executive Officer, Mr. Douglas Spadaro, stated that: "Retail clients are increasingly looking for value from a broader set of financial tools. Through the compelling value proposition of our e-phoenix modality, they are able to respond to the ever changing market environment on a real time basis. By utilizing our suite of investing, trading, banking and analytical products, they remain ideally positioned to capitalize on short-term market opportunities and long-term secular growth trends."
Mr. Spadaro went on to say: "In our opinion, there are 100 plus competitors in our marketplace today. This establishes our concept as a growing trend, rather than an anomaly. You cannot have this many people spending a finite amount of dollars trying to go after a static customer base due to the fact that one needs enormous capitalization to play engage in this business. The resulting attrition of the less innovative products will open up a growing client base for the companies with a leading edge product offering. We believe that most of the copycat companies are going to go by the wayside and there will only be about four or five that will really be standing tall by the end of the decade."
Mr. Spadaro further stated: "What used to be a conventional battlefield has now really become guerrilla warfare with regard to the way the exchanges work and the ways the markets move. Trading system innovation and information access is the key."
Charles Schwab & Co. tops the list of online brokerage firms by reporting nearly 117,800 trades per day or 23 percent of the market. E*TRADE was number two with 76,333 trades per day or approximately 14.9 percent of the market. Management calculates that these trading figures equate to net income announcements of 251 million dollars and 156 million dollars, in the first and second quarter of 2006, respectively. These figures being proportional, one would expect that if the iFinix product suite were to attain a one tenth of one percent market share within its client base, the expected revenue generated by the iFinix product would be between four and five million dollars per year. No assurances can be given that iFinix would achieve this market shares or revenues.
iFinix is a diversified information technology services and solutions company. Our people combine expertise in systems integration, outsourcing, infrastructure, server technology and consulting with precision thinking and relentless execution to help clients. iFinix is a leading global provider of financial and business information to professionals and active individual investors. Building on a 20-year legacy of delivering time-sensitive financial information, Phoenix provides streaming, real-time market data, news and analytics. The company's suite of products includes Phoenix Pro, the Phoenix Market Scanner, Phoenix Analyst and eifinix.
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.
Contact: Contact: iFinix Corporation Investor Relations 516-504-3981 x301
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