SILVERDALE, Wash., Aug. 26, 2011 /PRNewswire/ -- Infrared Systems International (OTCBB: IFRS) announces the completion of several internal projects and discusses corporate strategies for continued success.
Most recently, the company completed the pre-planned distribution of the assets of its subsidiary, Infrared Applications, Inc. (IAI). The distribution marks the next phase in the transition of the company from one engaged in the aerospace industry to one focused on biotechnology and life sciences. In the process of the distribution, the company was also able to strengthen its balance sheet by shedding over $85,000 in current liabilities.
"We are focused on making decisions that will benefit the company in the long run," stated Bill Wright, CEO of Infrared Systems International. "The distribution of Infrared Applications, Inc., our past, and the strategic acquisition of AquaLiv, Inc., our future, are milestones in what promises to be a long and exciting journey."
"Aqualiv's technology represents the future of several industries and will be incredibly disruptive in the marketplace," added Mr. Wright. "Our short term goals include creating a more recognizable identity in the market, supporting AquaLiv's clinical trials through completion, and winning approval to market NatuRx(TM) HIV/AIDS in Kenya."
"For us, being part of Infrared Systems is the best of both worlds," stated AquaLiv, Inc. CEO, Craig Hoffman. "We remain partially private and protect the technology from takeover, but at the same time provide an opportunity for the public to participate in something we believe is going to be a revolution in science and industry."
Earlier this year, the AquaLiv released its first agriculture product, AgSmart(TM) Rice. The product increases yields in rice crops an average of 30% and is compatible with all existing agriculture technologies, including organic growing standards. The company also introduced a drug-free HIV/AIDS
|SOURCE Infrared Systems International|
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