bt INTEGRATED FREIGHT CORP INTEGRATED FREIG
Post# of 1873
Posted On: 05/05/2015 2:07:35 PM
bt [Market News Publishing (US)]
INTEGRATED FREIGHT CORP
INTEGRATED FREIGHT CORP ("IFCR-L"
- IFCR And Nutmeg Fortuna Settle Disputed Debt
Integrated Freight Corporation and one of its judgment creditors have settled a long outstanding dispute involving The Nutmeg Fortuna Funds and Integrated Freight Corporation.
"The Nutmeg Fortuna Funds provided funding five years ago to previous management, and the company, at a critical juncture in its initial acquisition efforts. Ultimately, the Nutmeg Funds were placed in an SEC-appointed receivership and we have worked diligently with the receiver to resolve this dispute," said David N. Fuselier, Integrated Freight's CEO. "We're pleased that, after two and half years of negotiations, we have settled over $220,000 of judgment debt for $100,000 of structured payments over the next six months."
IFCR's President and COO, Hank Hoffman, stated, "As we prepare for discussions with our senior lenders, equipment finance companies and investors, it remains important to settle with our few remaining creditors. This is a significant achievement and paves the way for our senior credit facilities."
About Integrated Freight Corporation
Integrated Freight Corporation (IFCR) provides niche long-haul, regional and local motor freight service. For its customers, the Company provides dry van and hazardous waste truckload services in well-established traffic lanes in the Upper Midwest, Texas, California and along the Atlantic seaboard. For its shareholders, Integrated Freight acquires operating motor freight carriers that build, maintain and deliver shareholder value. The Company's corporate mission is to be the best niche motor carrier in North America.
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's 10-Ks and 10-Qs on file with the Securities and Exchange Commission.
We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by us or on our behalf.
TEL: (417) 434-1782 Henry P. (Hank) Hoffman, President and COO
____________________________________________________________
(c)2015 Market News Publishing Inc. All rights reserved.
Toronto
416)366-8881 Vancouver604)689-1101 Fax604)689-1106
© (c) 2015 Market News Publishing Inc.
INTEGRATED FREIGHT CORP
INTEGRATED FREIGHT CORP ("IFCR-L"
- IFCR And Nutmeg Fortuna Settle Disputed Debt Integrated Freight Corporation and one of its judgment creditors have settled a long outstanding dispute involving The Nutmeg Fortuna Funds and Integrated Freight Corporation.
"The Nutmeg Fortuna Funds provided funding five years ago to previous management, and the company, at a critical juncture in its initial acquisition efforts. Ultimately, the Nutmeg Funds were placed in an SEC-appointed receivership and we have worked diligently with the receiver to resolve this dispute," said David N. Fuselier, Integrated Freight's CEO. "We're pleased that, after two and half years of negotiations, we have settled over $220,000 of judgment debt for $100,000 of structured payments over the next six months."
IFCR's President and COO, Hank Hoffman, stated, "As we prepare for discussions with our senior lenders, equipment finance companies and investors, it remains important to settle with our few remaining creditors. This is a significant achievement and paves the way for our senior credit facilities."
About Integrated Freight Corporation
Integrated Freight Corporation (IFCR) provides niche long-haul, regional and local motor freight service. For its customers, the Company provides dry van and hazardous waste truckload services in well-established traffic lanes in the Upper Midwest, Texas, California and along the Atlantic seaboard. For its shareholders, Integrated Freight acquires operating motor freight carriers that build, maintain and deliver shareholder value. The Company's corporate mission is to be the best niche motor carrier in North America.
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's 10-Ks and 10-Qs on file with the Securities and Exchange Commission.
We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statements that may be made from time to time by us or on our behalf.
TEL: (417) 434-1782 Henry P. (Hank) Hoffman, President and COO
____________________________________________________________
(c)2015 Market News Publishing Inc. All rights reserved.
Toronto
416)366-8881 Vancouver604)689-1101 Fax604)689-1106 © (c) 2015 Market News Publishing Inc.
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