SOURCE: Integrated Freight Corp

March 18, 2015 10:30 ET

Integrated Freight Reviews Capital Structure

Management Provides Current Key Data

SOUTHBURY, CT--(Marketwired - Mar 18, 2015) - Integrated Freight Corporation (OTC PINK: IFCR) today issued comments regarding its capital structure in advance of its upcoming SEC 10-K Annual Report for fiscal year ending March 31, 2014.

According to Integrated's CEO David Fuselier, "We believe strongly that our corporate strategy requires us to develop a capital structure that meets the Company's needs and those of our shareholders -- particularly during a period of change. Because of the recent unprecedented volume in our stock, we believe it's important to provide our shareholders with insight regarding the Company's structure and our current strategy."

Specifically, Integrated Freight Corporation reports the following key data:

Authorized Shares: 2,000,000,000
Outstanding Shares: 397,002,718
Restricted Shares: 246,662,652
Public Float: 150,340,066

"On other matters relating to structure," Fuselier continued, "as a corporate strategy for calendar 2015, we do not anticipate, at this time, that a reverse split is advisable or practical. We anticipate that a reverse may however occur in calendar 2016."

With regard to the Company's "stop sign," Fuselier stated, "Integrated Freight's stock has had a stop sign for most of its recent history. We expect to become fully compliant in our filings in the very near future and expect the stop sign to be removed soon after our filings are current."

Mr. Fuselier completed his comments regarding the IFCR structure by saying, "Most companies in the small public market require regular, recurring, forms of capital formation to operate. Integrated Freight is no exception and carries with it varying types of debt that may convert into shares of our common stock. Recently, some of these debt holders requested conversions as provided under existing contracts and the Company issued common stock pursuant to the contract terms. As a result, our long term debt has been reduced by approximately $200,000 through the conversion of substantially all of our in-market outstanding convertible debt, including all Asher-related debt."

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:
    Henry P. (Hank) Hoffman
    President and COO
    Integrated Freight Corporation
    (417) 434-1782

    David N. Fuselier
    (203) 628-7142