CHICAGO, July 30 /EMWNews/ -- newAX, inc (Pink Sheets:

NWXJ) formerly named Astrex, Inc. today announced that it mailed to its

shareholders of record the following Annual Report & Notice of Annual

Meeting for its fiscal year ended March 31, 2008:



    Dear newAX, inc Shareholders:



    This letter shall constitute newAX, inc's Annual Report and Notice of

Annual Meeting for its fiscal year ending March 31, 2008.



    The Company, a Delaware corporation, is presently in the business of

investing its assets. Its outstanding securities consists of common and

preferred stock, neither of which is registered with the Securities and

Exchange Commission. The preferred stock bears no dividends except to the

extent there is a common stock dividend but is entitled to cast 12 votes

per share on all matters in which common stock is entitled to vote. The

preferred stock is convertible into common stock at any time upon request

on a one for one bases. The Company's Officers and Directors, including

their immediate families, own or control more than 75% of the company's

outstanding stock measured either by number of shares or number of votes.

The Company is its own transfer agent and registrar for its common and

preferred stock. The Company's address for such purposes is newAX, inc

(transfer agent and registrar), 700 West Irving Park Road, Suite A-1,

Chicago, IL 60613 attention John C Loring.



    On July 30, 2008, the Company posted on its web site

http://newaxinc.com its unaudited Financial Statements for its fiscal year

ending March 31, 2008. Those Financial Statements reported among other

things that as of March 31, 2008 the Company had $1,250,884 in Assets, no

liabilities other then Shareholders' Equity, and 366 common and preferred

shares outstanding. The Company had a net loss of $253,543 for the fiscal

year ended March 31, 2008. The Financial Statements may be viewed and

downloaded at http://newaxinc.com . Upon request a copy of the same may be

obtained from the Company at: newAX, inc , 700 West Irving Park Road, Suite

A-1, Chicago, IL 60613 attention John C Loring.



    Please be advised that the Annual Meeting of newAX, inc Stockholders

for the fiscal year to end March 31, 2008 will be held on Thursday August

28, 2008 at 11:00 EDT at the offices of Ramat Securities LTD 23811 Chagrin

Blvd, Suite 200, Beachwood, Ohio 44122. The record date for voting at that

meeting is as of 5:00pm EDT August 1, 2008. Stockholders shall be allowed

to participate at the meeting in person or through written proxies

reasonably acceptable to the Company but the Company will not solicit

proxies nor provide a proxy statement nor provide proxy forms. At the

meeting the following matters will be presented:



    a) Resolved, that Sections 2 and 3 of Article II of the Company's

By-Laws



    be amended to read as follows:



    "Section 2. Number. The number of directors shall be four (4) provided

that in the event a then serving director resigns, is removed, is not

renominated for election or is otherwise unable to serve, the Board of

Directors shall not be obligated to elect or nominate for election a

replacement."



    "Section 3. Term of Office and Qualifications. Directors need not be

stockholders. Directors shall be divided into three (3) classes, Class I,

Class II, Class III. The directors shall be evenly distributed between the

three classes, but to the extent that is not possible then Classes I & II

shall consist of the odd number of directors. All three classes of

directors shall be initially elected at the Annual Meeting held in the

fiscal year to end March 31, 2009 for the following terms and until their

successors are elected and shall have qualified to so serve: Class I for a

term of one year, Class II for a term of two years, and Class III for a

term of three years. Thereafter, the term of each director shall be three

years and until a successor is elected and shall have qualified to so

serve. The Board of Directors may remove a Director for cause."






    b) Resolved, that David S. Zlatin be elected as the Class I director of

       the Company, that Michael McGuire be elected as the Class II director

       of the Company, and that Howard Amster and John C. Loring be elected as

       the Class III directors of the Company.



    c) Any such other matters as may properly come before the meeting.

    Forward-Looking Statements



    This announcement contains forward-looking statements that involve

risks and uncertainties. Because such statements inherently involve risks

and uncertainties, actual future results may differ materially from those

expressed or implied by such forward-looking statements. Factors that could

cause or contribute to such differences include, but are not limited to,

market or other economic changes, and other uncertainties and matters

beyond the control of newAx's management.