Message #2 From:
NewsBot Date: December 7, 2006 06:33:00 AM
IRXI News INREEX, Inc. Unveils Its New Online Sports Exchange and Adds the U.K Region to Its Real Estate Exchange
LONDON--(BUSINESS WIRE)--INREEX, Inc., (Pink Sheets: IRXI) an innovative developer and operator
of interactive online trading exchanges, is pleased to announce the
launch of the company’s new online sports
exchange, 11Trade. The site can be accessed at: http://www.11trade.com
In addition, INREEX has been moving forward with the expansion of its
Real Estate Exchange by adding the U.K. to its list of tradable areas.
11Trade is consistent with our primary business model while at the same
time enabling us to penetrate a global market of over 500 million
people, which includes both sports fans and online investors everywhere.
This interactive online marketplace will allow for speculation by the
company’s membership in various sporting
events using both long and short-term contracts. Members’
generate profits or losses from the rise and fall of contract prices
with short-term contracts receiving a payout every time the correct side
of a particular wager is chosen. INREEX generates revenues from
commissions paid to the company on member transactions.
A distinctive feature of our exchange will be its peer-to-peer
technology; with this, members can experience the same excitement and
liquidity that is witnessed in the stock market. The Sports Exchange
targets International participants and will not allow United States
residents or residents in other jurisdictions to place bets or
participate in the exchange where such participation is contrary to
existing laws and regulations.
Currently, users will be able to open accounts and trade a portfolio
with “virtual”
money, as 11Trade is still in the beta stage. The exchange will
initially launch with its primary focus on professional soccer events
with the intention of integrating additional sports as practical. The
exchange is expected to operate 365 days of the year, 24 hours per day
and have a live chat room as well as a public forum where traders can
openly discuss the state of the exchange and swap ideas. Over the
following months we will continue to test for any glitches and gather
data from all feedback received from users.
"The launch of the 11Trade beta platform is a significant step in
expanding our product offerings. We continue to actively pursue new ways
to commoditize various markets and I believe many will find our latest
exchange as an exciting approach to electronically speculate on numerous
sporting events," said Paul Rozenberg, CEO of INREEX, Inc.
As we have previously mentioned, INREEX’s aim
is not only to continue the expansion of our current core business, but
also to advance our position as an international real estate exchange.
To that end, we now allow for speculation on an international level with
the addition of the U.K.
About INREEX, Inc.
INREEX, Inc. (Pink Sheets: IRXI - News) is an innovative developer and
operator of interactive online trading exchanges. The INREEX is a real
estate prediction exchange that lets investors take advantage of the
fluctuations in the real estate market, without having to buy real
property. Ultimately, the INREEX could protect homeowners from a
potential housing decline or just allow for efficient real estate
speculation without the need to buy or sell actual real estate. 11Trade
is an online sports exchange with its primary focus on professional
soccer events with the intention of integrating additional sports as
practical. Both exchanges not only allow members to experience the same
excitement and liquidity that is witnessed in the stock market, but they
are powered by our distinctive peer-to-peer technology feature allowing
for transparent and efficient trading 24/7 from virtually anywhere in
the world.
The information contained in this press release may include
forward-looking statements. Forward-looking statements usually contain
the words "estimate," "anticipate," "believe," "expect," or similar
expressions that involve risks and uncertainties. These risks and
uncertainties include the company's uncertain profitability, need for
significant capital, uncertainty concerning market acceptance of its
products, competition, limited service and manufacturing facilities,
dependence on technological developments and protection of its
intellectual property. The company's actual results could differ
materially from those discussed herein.