InfoSpi Inc. 10-Q Filing

HOLLYWOOD, Fla., May 24 /PRNewswire/ -- InfoSpi Inc. (OTC Bulletin Board: ISPI) has filed 10-Q for the first quarter of 2010, and announced that the Board of Directors accepted the resignations of Chris Hamilton as the Vice President and a director and Oliver Danan as the Vice President and Chief Operating Officer and a director, effective April 27, 2010. Simultaneously, our Board of Directors received the consent of Haim Mayan to act as the interim Chief Executive Officer and Chief Financial Officer effective April 27, 2010, and confirmed Mr. Mayan's continuing appointment to our Board of Directors.

"We are very excited to move to our new headquarters in Hollywood, Florida and we will immediately commence operations from there," says Haim Mayan.  "We continue to advance the development of our project with IBS Spain, and continue to work on the deployment of a municipal sludge-to-oil plant in Argentina." He continued, "We have been facing a challenging time, and I would like to extend our thanks for the many supportive calls and emails that we have received from our share holders and partners.  Thank you for your continued support and belief in the company."

Our company's core vision is to positively impact the environment through innovative waste disposal and energy generation solutions. One of our primary methods is the conversion of contamination and industrial byproducts (sludge, oil, manure, used tires) into reusable commodities that can be resold in the market.  In this manner we are minimizing the need for mining and extraction of resources from the earth, and significantly reducing the carbon footprint of companies and municipalities working with us.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of InfoSpi Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

SOURCE InfoSpi