Innovative Food Holdings Inc (IVFH)

[Dickmo]

You have no idea (nor do I to be honest) what guarantees were signed on kitchen and office leases, other contracts, and other deals. FD had, if memory serves, $4.6 million in unearned revenue when it was spun off. Nearly all of it was recorded in the 18 months IVFH was the owner. That cash to pay for it wasn't there when the business was sold. So let's see how the lawyers work this out. That alone could be a bit of an issue.

I can only tell you that any and all transactions within 2 years of a bankruptcy are reviewable. As for the claim of 'improper conduct', one lawyer's managerial incompetency is another man's improper conduct. We will see how strong that veil is I am sure.

You could be right. This could all mean nothing to IVFH. But I doubt it. FD had zero chance of success. The fact that Sam wrote all the FD assets down tells you he knew that. It was a good move from a stock market point of view. But it isn't going to look good to a jury if it gets that far. (And it won't).

Finally, FD operated in many states. It's not clear how much of the action will take place in Florida. And I'm not sure where all the companies are incorporated. Could make a difference.