Wednesday, 30 December 2015 09:00 AM
Company Update
Company Plans to Increase Authorized Common Shares
DANBURY, CT / ACCESSWIRE / December 30, 2015 / Integrated Freight Corporation (OTC PINK: IFCR), a niche motor freight carrier providing transportation and logistics services on key routes throughout the United States, today announced that its board of directors has approved the filing of a preliminary information statement with the Securities and Exchange Commission to increase its total authorized shares.
David N. Fuselier, Integrated Freight's Chairman and CEO stated, "This increase in authorized shares is integral to the continued execution of our strategic plan. Over the last three years total debt has been sharply reduced while the corporation has achieved consistent profitability. With this increase in authorized shares, we will continue to improve our debt structure and accelerate the growth of our business. While the Company anticipates only minimal interim issuances to meet current working capital needs, we are principally taking this action to meet the reserve requirements of note holders and to close the acquisitions of several niche motor carriers that will add significant value."
Fuselier added, "Some shareholders may view this action as potentially dilutive and a de-valuation. However, we believe there are many valuable long term benefits to our shareholders. Management believes this represents an opportunity to increase our book value based on acquisitions and expanding our operating revenues, liquidity, and profitability."
About Integrated Freight Corporation
Integrated Freight Corporation (OTC PINK: IFCR) provides 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 companies 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.
Contact:
Hank Hoffman
President and COO
Integrated Freight Corporation
417-434-1782
David Fuselier, CEO
CEO
Integrated Freight Corporation
203-628-7142
SOURCE: Integrated Freight Corporation