SPRING, TX / ACCESSWIRE / August 2, 2022 / Infrax Systems, Inc. (OTC PINK:IFXY) announced today that it has completed its acquisition of Mi Pulpe LLC, an US Master Importer & Distributor of specialty nostalgic food and beverage products catering to the Latin American market segment. Effective July 29, 2022, IFXY purchased 100% of the membership units of Mi Pulpe, LLC, a Florida limited liability company, from its sole member, Alnost USA, LLC. The acquisition has resulted in a change of control, with Alnost USA now controlling shares that provide it with approximately 53% of IFXY's voting rights. Mi Pulpe LLC will now operate as a wholly owned subsidiary of IFXY. The acquisition is non-dilutive to current IFXY shareholders and will not require the issuance of any new stock.
Mi Pulpe imports and distributes Latin American snacks, drinks, ready-to-eat food, and cooking products through its retail and wholesale distribution centers in Florida and New York, its Amazon store, and direct-to-consumer from its mipulpe.com website. Mi Pulpe revenues exceeded $22 million dollars in calendar year 2021 and the company is expanding rapidly to other cross over market segments with new and exciting products. IFXY management is working to establish new credit facilities and capital sources that will allow IFXY to double Mi Pulpe's revenue run rate in the next 12-18 months.
IFXY will be introducing its new management team, as well as additional information on its business goals, over the next few weeks. IFXY will be filing an application with the Financial Industry Regulatory Authority ("FINRA") for a change of the issuer's name and symbol to better reflect the Company's overall strategy. The company has already begun the process of selecting an auditing firm in anticipation of exceeding the minimum thresholds for becoming a mandatory SEC filer in the next 12 months.
About Infrax Systems, Inc.
Infrax Systems, Inc. is a brand incubator and accelerator. The company plans to build a portfolio of revenue-generating product brands to develop new sales channels and increase brand awareness and revenues.
About Mi Pulpe LLC.
MI PULPE is an US Master Importer & Distributor of specialty nostalgic food and beverage products catering to the Latin American segment and is expanding rapidly to other cross over market segments with new and exciting products.
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SOURCE: Infrax Systems, Inc.