IFCR. news just out awhile ago. DANBURY, CT --
Post# of 1873
Posted On: 08/06/2015 10:08:13 AM
IFCR. news just out awhile ago.
DANBURY, CT -- (Marketwired) -- 08/05/15 -- Integrated Freight Corporation (OTC PINK: IFCR), a niche motor freight carrier providing transportation and logistics services on key routes throughout the United States provided an update on the Company's share issuances.
David N. Fuselier, CEO of Integrated Freight, stated, "Over the past several months management has received conversion notices from legacy note holders to convert debts into stock. During the same period we have issued, as reported in our 10-K, shares in settlement of debts and as compensation for services for management, service providers and professionals. As such, there has been dilution that management believes is not in the normal course of business, but rather extraordinary. We expect this level of dilution to slow in the coming quarters."
Management is preparing to file its first quarter report as its new auditors conclude the Company's Form 10-K. "With the fresh 10-K and the first quarter filing, the Company will be in a very good position to raise much less dilutive forms of capital including preferred shares, mezzanine and senior working capital and equipment facilities," said Fuselier. He continued, "We are actively pursuing all capital formation options available to us and have generated a new power point representing the new structure and operations. In addition, we are working closely with VoiceFlix to complete our new website which will further enhance our capital raise. Lastly, we have begun the work on our S-1 filing."
DANBURY, CT -- (Marketwired) -- 08/05/15 -- Integrated Freight Corporation (OTC PINK: IFCR), a niche motor freight carrier providing transportation and logistics services on key routes throughout the United States provided an update on the Company's share issuances.
David N. Fuselier, CEO of Integrated Freight, stated, "Over the past several months management has received conversion notices from legacy note holders to convert debts into stock. During the same period we have issued, as reported in our 10-K, shares in settlement of debts and as compensation for services for management, service providers and professionals. As such, there has been dilution that management believes is not in the normal course of business, but rather extraordinary. We expect this level of dilution to slow in the coming quarters."
Management is preparing to file its first quarter report as its new auditors conclude the Company's Form 10-K. "With the fresh 10-K and the first quarter filing, the Company will be in a very good position to raise much less dilutive forms of capital including preferred shares, mezzanine and senior working capital and equipment facilities," said Fuselier. He continued, "We are actively pursuing all capital formation options available to us and have generated a new power point representing the new structure and operations. In addition, we are working closely with VoiceFlix to complete our new website which will further enhance our capital raise. Lastly, we have begun the work on our S-1 filing."
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