Update from Hubswirl posted on Ihub: I just spo
Post# of 1873
Posted On: 07/15/2016 3:16:26 PM
Update from Hubswirl posted on Ihub:
I just spoke with David...
Here is the update:
First of all he is releasing a PR next Monday or Tuesday and will cover most of what is discussed here:
1) Main concern- Is there a chance that IFCR could become delisted if not current by a specific date?
David: not any chance soon.. Not going to happen.
2) What is the ETA on the audit competition and submission? Will it show revs of $24M or will it not include Smith subsidiary?
David: Audits will be submitted in August and will not included Smith subsidiary. Smith is not oping the books so tgis delayed the audits.. Their plans are to not include Smith to become current in August.
3) When are you planning to release your next PR and what issues will be addressed?
David: next Monday or Tuesday.. There is a lot going on and he has been extremely busy.
4) Have you hired a new CFO?
David: Yes they have and it will be announced on Monday or Tuesday next PR.
5) Do you have and news/updates on any acquisitions in the works.
David: Yes they are currently negotiating to aquire 2 new subsidiaries... One is a $10M company and the other is a $15M company. It will bring their revenue upto a $50M company.
6) Are there any updates on current litigations? Understanding that you had updated us on June 23rd. Just wondering if there is anything new on the subsidiary litigation?
David: they have filled a counter lawsuit against Smith.. Their legal counsel says they will not lose.
7) update on debt... They have settled 60% of the $10M so I assume they have about $5M or less.
All and all.. Great news... Holding on through and buying more. He said anyone is welcome to call him.
I just spoke with David...
Here is the update:
First of all he is releasing a PR next Monday or Tuesday and will cover most of what is discussed here:
1) Main concern- Is there a chance that IFCR could become delisted if not current by a specific date?
David: not any chance soon.. Not going to happen.
2) What is the ETA on the audit competition and submission? Will it show revs of $24M or will it not include Smith subsidiary?
David: Audits will be submitted in August and will not included Smith subsidiary. Smith is not oping the books so tgis delayed the audits.. Their plans are to not include Smith to become current in August.
3) When are you planning to release your next PR and what issues will be addressed?
David: next Monday or Tuesday.. There is a lot going on and he has been extremely busy.
4) Have you hired a new CFO?
David: Yes they have and it will be announced on Monday or Tuesday next PR.
5) Do you have and news/updates on any acquisitions in the works.
David: Yes they are currently negotiating to aquire 2 new subsidiaries... One is a $10M company and the other is a $15M company. It will bring their revenue upto a $50M company.
6) Are there any updates on current litigations? Understanding that you had updated us on June 23rd. Just wondering if there is anything new on the subsidiary litigation?
David: they have filled a counter lawsuit against Smith.. Their legal counsel says they will not lose.
7) update on debt... They have settled 60% of the $10M so I assume they have about $5M or less.
All and all.. Great news... Holding on through and buying more. He said anyone is welcome to call him.
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