iFinix Acquires Beach City Entertainment
HARRISON, N.Y., Oct. 31, 2013 /PRNewswire/ -- iFinix Corporation (iFinix) (PINKSHEETS: INIX), a diversified information technology services and solutions company with holdings that include several subsidiaries, announced today that utilizing an exchange of stock, the Company has acquired Beach City Entertainment, LLC, a worldwide radio network.
Targeting the commercially sought after "baby boomer" generation and the "Surf Rock Youth" presence around the world, Beach City Entertainment, LLC is an industry leading entertainment company that owns and operates WIRB-DB 87.1 "Beach City Radio," a 24 hour, internet based digital radio station which features high energy currently popular surfing-themed music plus classics from the 60s, 70s and 80s.
In addition to the worldwide market via the internet, the acquisition includes syndication agreements for celebrity hosted lifestyle programming, a library of over 1,000 music titles, and licenses to facilitate a national network of "over-the-air" AM and FM stations.
Founded by Vince Vellardita in 2012, the Company boasts over 10,000 dedicated listeners from the United States and South America to Europe. Beach City holds a merger agreement with an FM station in Florida and FCC transmitter licenses to establish a broadcast network of affiliates in 50 major markets. "Everyone loves beach music. Whether relaxing on the beach or the water or anywhere else in the world, this music genre has given listeners the sense they are on vacation. It's America's 'feel good music,'" stated Vince Vellardita, creator and founder of Beach City Radio.
iFinix CEO Ben Munroe added, "The station alone, conservatively valued at more than 1 million dollars, augments the 2 million dollar intellectual property value already stated on our books. The iFinix team has a huge opportunity to apply our strength in software application development to what Vince's team has brought to the table. The synergy between the assets in both divisions is truly exciting."
Beach City Entertainment's transmitter licenses allow a retransmission of the station in other states, creating a Worldwide Radio Network. "We have FCC approval, everything is in place to build a platform reaching tens of millions listeners in a lucrative demographic," an enthusiastic Doug Spadaro, iFinix Company Chairman added. Spadaro went on to say, "All the pieces are in place to make this venture a huge financial success for the Company and its shareholders." iFinix anticipates Network expansion to begin early first quarter 2014.
iFinix Corporation encourages visiting Beach City Radio at www.beachcityradio.com. For more information about iFinix Corporation, contact Investor Relations at 888-429-1117.
About iFinix Corporation:
iFinix Corporation is a consulting and management holdings company that consists of several subsidiaries. The Company combines expertise in systems integration, outsourcing, infrastructure, server technology and consulting with precision thinking and a relentless pursuit of customer service and satisfaction. 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.
SOURCE iFinix Corporation