Posted On: 03/04/2016 2:22:38 PM
Post# of 1873
IFCR. press release this morning.
PRESS RELEASE
Integrated Freight Corporation Names New SEC Audit Firm
Published: Mar 4, 2016 12:05 p.m. ET
Mar 04, 2016 (ACCESSWIRE via COMTEX) -- DANBURY, CT / ACCESSWIRE / March 4, 2016 / Integrated Freight Corporation (otc pink:IFCR) today announced that it has engaged Stevenson & Company CPAs LLC as its new audit firm.
Integrated Freight's former auditor, DKM Certified Public Accountants, the Company's independent audit firm for fiscal years ended March 31, 2013 and 2014, resigned as our independent audit firm on July 10, 2015 after learning of an investigation by the Securities and Exchange Commission (SEC) which resulted in the SEC's termination on December 10, 2015 of that firm's privilege to practice before the SEC.
David N. Fuselier, Integrated Freight CEO stated, "This recent ruling was a significant setback for our Company. Any delay in achieving full compliance with SEC reporting requirements impacts IFCR's progress toward up listing to OTCBB and capital formation. However, it should be noted that our Company was not at fault and had no responsibility whatsoever in this ruling."
According to Jace Simmons, IFCR's CFO, "In spite of this setback, we have hired a new audit firm and are moving forward as rapidly as possible to becoming fully compliant with the SEC's reporting requirements. Our subsidiary trucking operations are unaffected by these events."
As a result of the SEC ruling, the Company must have fiscal year 2014 re-audited by Stevenson & Company for inclusion in its annual report on Form 10-K for the 2015 fiscal year.
PRESS RELEASE
Integrated Freight Corporation Names New SEC Audit Firm
Published: Mar 4, 2016 12:05 p.m. ET
Mar 04, 2016 (ACCESSWIRE via COMTEX) -- DANBURY, CT / ACCESSWIRE / March 4, 2016 / Integrated Freight Corporation (otc pink:IFCR) today announced that it has engaged Stevenson & Company CPAs LLC as its new audit firm.
Integrated Freight's former auditor, DKM Certified Public Accountants, the Company's independent audit firm for fiscal years ended March 31, 2013 and 2014, resigned as our independent audit firm on July 10, 2015 after learning of an investigation by the Securities and Exchange Commission (SEC) which resulted in the SEC's termination on December 10, 2015 of that firm's privilege to practice before the SEC.
David N. Fuselier, Integrated Freight CEO stated, "This recent ruling was a significant setback for our Company. Any delay in achieving full compliance with SEC reporting requirements impacts IFCR's progress toward up listing to OTCBB and capital formation. However, it should be noted that our Company was not at fault and had no responsibility whatsoever in this ruling."
According to Jace Simmons, IFCR's CFO, "In spite of this setback, we have hired a new audit firm and are moving forward as rapidly as possible to becoming fully compliant with the SEC's reporting requirements. Our subsidiary trucking operations are unaffected by these events."
As a result of the SEC ruling, the Company must have fiscal year 2014 re-audited by Stevenson & Company for inclusion in its annual report on Form 10-K for the 2015 fiscal year.
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