Integrated Freight Corp (OTCMKTS:IFCR) a motor freight carrier provider on main routes throughout the U.S., disclosed that its FY2015 audited financial report will be submitted as per SEC reporting requirements. Finishing the FY2015 annual report is the Company’s last major landmark in re-establishing compliance with its financial reporting requirements to the SEC. The third milestone covers the first three quarter reviews of 2015 and aims to make the company fully compliant.
The management speaks
David Fuselier, Integrated Freight’s CEO, said that they expect filing the reports in succession, after it completes with the submission of March 2015 10K. This third milestone is vital for Integrated to transform into a fully compliant entity. It is a first priority for the company and will mark a significant achievement. The future acquisitions largely depend on remaining current and giving timely financial information to company’s esteemed shareholders and all related parties at interest.
The expectations
Integrated President’s Hank Hoffman reiterated the significance of compliance and consistency. In FY2014, the company provided revenue guidance of $20 million and positive EBITDA and believes that the forecast for FY2015 will be comparable to previous year. Once the filings are current, Integrated will be in a better position to negotiate further with lenders for re-financing and financing company’s operations and future acquisitions.
The profile
Integrated Freight offers long-haul, local and regional motor freight service. For its clients, the Company offers dry van and truckload services in traffic lanes in California. For its shareholders, the company buys operating motor freight firms that develop, maintain and create shareholder value. The main corporate mission is to transform into the best niche motor provider in North America.
In last trading session, the stock price of IFCR surged more than 83% to close the trading session at $0.00220. The gains came at a share volume of 30.08 million compared to average share volume of 6.06 million.
