SOURCE: Integrated Freight Corporation

September 22, 2015 13:15 ET

Integrated Freight at Mid Fiscal Year

DANBURY, CT--(Marketwired - September 22, 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 commented on its operations and legacy debt.

Hank Hoffman, COO of Integrated Freight stated, "When we began the company turnaround in early fiscal 2013, IFCR was deeply in debt and had never generated a profit in its entire operating history. In short, debt and equity financings were not available at the time. For the past two years, the Company has endured a painful restructuring, as well as recent dilution, to exponentially reduce debt and provide critical working capital." Hoffman continued, "Although this effort has been extremely successful, we believe our stock is undervalued as evidenced by IFCR's current Price/Earnings Ratio of less than 1X compared to an industry average of 17-18X. Without question we are undervalued."

"Recent issuance of shares for judgment creditor settlements and legacy convertible debt has been unavoidable in this environment," said David N. Fuselier, IFCR's CEO. "However, it is important to note that the Company's debt has been cut in half and its first profit was reported in FYE 2013 with IFCR reporting continued financial improvement. Our subsidiaries are growing and have acquired new fleet models of tractors and trailers that increase our overall efficiencies. We have no events of defaults and limited normal course litigation at the subsidiary level. In short, we believe the market has not rewarded the patience of our long-term investors, or our operating efforts, due to the effect of recent convertible debt. It will not always be this way."

On September 15, 2011 IFCR shares closed at $.15 per share. There was no P/E Ratio as the Company had never attained profitability. On September 15, 2015 IFCR shares closed at $.0007/share with a P/E Ratio of 0.7X compared to an industry average of 17X. The equivalent IFCR price would be $.017/share.

The Company noted that its new auditors had completed one of their two audit field exams and that the final 10K will be filed soon. It reiterated its guidance of $24,000,000 in 2015 revenues and positive EBITDA equal to, or better than, its peers. The Company continues to discuss with stakeholders and bankers new capital formation and growth through future acquisitions.

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 Information

  • Contact:

    Hank Hoffman
    President and COO
    Integrated Freight Corporation
    417-434-1782

    David Fuselier
    CEO
    Integrated Freight Corporation
    203-628-7142