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I don't see how they can punish shareholders for his fraud. He should have all the shares he owned retired and it should be allowed to trade again with the share price adjusted to whatever it was when he committed the fraud
I know. Not looking real good. Hoping for a miracle:)
So from the sounds of it, the sec may decide to never let this trade again
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 23855 / June 8, 2017
Securities and Exchange Commission v. David N. Fuselier, Roy W. Erwin and Integrated Freight Corporation, No. 17-cv-04240 (S.D.N.Y.)
SEC Charges Chief Executive Officer and Issuer with Using a Rigged Transaction to Improve Financials
The Securities and Exchange Commission has charged a chief executive officer with perpetrating a fraudulent scheme to create the false appearance of improvement in the financial statements of two publicly traded companies by removing significant liabilities.
The SEC's complaint, filed in federal court in New York, N.Y. on June 6, 2017, alleges that beginning in 2012, David N. Fuselier, then-chairman, chief executive officer, and principal financial and accounting officer of Integrated Freight Corporation and New Leaf Brands, Inc., arranged for both companies purportedly to sell non-performing subsidiaries each with liabilities greater than assets. According to the complaint, Fuselier convinced a long-time friend and business associate, Roy W. Erwin, to be in charge of the purchaser, a new company formed and controlled by Fuselier that had no assets. Fuselier hid the true nature of the transactions from the companies' auditors and, from July 2012 to April 2015, reviewed, approved, and signed SEC filings containing false and misleading information about the related-party nature of the sales and the issuers' financial condition. As a result, Integrated Freight and New Leaf filed with the SEC materially false and misleading reports.
The SEC's complaint charges:
Fuselier and Integrated Freight with violating Sections 17(a)(1) and (3) of the Securities Act of 1934 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder;
Fuselier with violating Section 17(a)(2) of the Securities Act and Exchange Act Rules 13a-14, 13b2-1 and 13b2-2 and with aiding and abetting New Leaf's and Integrated Freight's violations of Sections 13(a) and 13(b)(2)(A) of the Exchange Act and Rules 12b-20, 13a-1 13a-11 and 13a-13 thereunder;
Integrated Freight with violating Sections 13(a) and 13(b)(2)(A) of the Exchange Act and Rules 12b-20, 13a-1, and 13a-11 thereunder; and
Erwin with aiding and abetting Fuselier's violations of Sections 17(a)(1), (2) and (3) of the Securities Act and Section 10(b) and Rule 10b-5 thereunder.
Erwin has agreed to settle the SEC's charges by accepting a three-year officer and director bar and a penny stock bar, and by paying a $25,000 penalty. The settlement is subject to court approval.
The SEC also issued an order temporarily suspending trading in Integrated Freight's common stock and instituted administrative proceedings pursuant to Section 12(j) of the Exchange Act to determine whether it is necessary and appropriate for the protection of investors to suspend or revoke Integrated Freight's SEC-registered securities.
The SEC's investigation has been conducted by Kristin M. Pauley, Melissa A. Coppola, Lisa Knoop, Michael D. Birnbaum, Joseph P. Ceglio, Joshua Geller, Scott B. York and Adam S. Grace in the New York office. The litigation will be led by Mr. Birnbaum and Ms. Pauley. The case is being supervised by Lara Shalov Mehraban.
Sorry my friend, yes the paper is worth what you are willing to pay but with that in mind there is the administration and sales fees that the company charges that get back charged to the company in the leasing back of the assets that was used for additional collateral for money borrowed to cover the depreciation that hopefully 30% will be recovered by selling additional equity above the stated cost to produce the paper and sell it.
If no one wants to cough up the spread above par needed to keep things afloat this company is doomed along with all its partisapients who are involved.
The depreciated collateral will be sold off to the highest bidder who has the means to use it paying down the debt.
any sellers at 0.000001 I would be a buyer but just don't know how to make the transaction happen i could contact your broker and arrange something I guess but i need your cooperation I guess.
Thank you
I knew all that stuff.
:))))))))) good one
Here Eddy2,
This is how IFCR is going to get out of the mess that they're in, have at it.
Let ? be the angle at which the ball is thrown. Then the coordinates are given by
x = (v cos ?)t and y = (v sin ?)t - gt2/2. The ball reaches its maximum height at
t = v sin ?/g, so the length of the trajectory is
L = 2 Z v sin ?/g
0
sµ
dx
dt ¶2
+
µ
dx
dt ¶2
dt
= 2 Z v sin ?/g
0
q
(v cos ?)
2 + (v sin ? - gt)
2 dt
= 2v cos ?
Z v sin ?/g
0
s
1 + µ
tan ? -
gt
v cos ?
¶2
dt. (1)
Letting z = tan ? - gt/v cos ?, we obtain
L = -
2v
2
cos2
?
g
Z 0
tan ?
p
1 + z
2 dz. (2)
Letting z = tan a, and switching the order of integration, gives
L =
2v
2
cos2
?
g
Z ?
0
da
cos3 a
. (3)
You can either look up this integral, or you can derive it (see the remark at the end
of the solution). The result is
L =
2v
2
cos2
?
g
·
1
2
µ
sin ?
cos2 ?
+ ln µ
1 + sin ?
cos ?
¶¶
=
v
2
g
µ
sin ? + cos2
? ln µ
sin ? + 1
cos ?
¶¶ . (4)
As a double-check, you can verify that L = 0 when ? = 0, and L = v
2/g when
? = 90?
. Taking the derivative of eq. (4) to find the maximum, we obtain
0 = cos ? - 2 cos ? sin ? ln µ
1 + sin ?
cos ?
¶
+ cos2
?
µ
cos ?
1 + sin ?
¶
cos2
? + (1 + sin ?) sin ?
cos2 ?
.
(5)
This reduces to
1 = sin ? ln µ
1 + sin ?
cos ?
¶
.
Finally, you can show numerically that the solution for ? is ?0 ˜ 56.5
?
.
A few possible trajectories are shown below. Since it is well known that ? = 45?
provides the maximum horizontal distance, it follows from the figure that the ?0
yielding the arc of maximum length must satisfy ?0 = 45?
. The exact angle, however,
requires the above detailed calculation.
****This is how IFCR will resolve all their problems******
T.
Don't pay any mind to him he is way out there
Thanks stockhunter.
My thoughts exactly.
If its something to do with IFCR, then get to the point.
T.
Eddy wtf you talking about ! ? What does it have to do with this stock ?
http://www.investopedia.com/terms/s/sec-form-1-a.asp
So let us explain how it works. Essentially as a security holder you are a middle man. You take the bumps out of the product offering.
A contract is established that grants you time should it be a service the company is offering or a product and many times a combination of both.
This is collateralized by the payment of cash to the company. Time bought is represented by outstanding shares owed while equity and treasury stock is actual product or raw material that time bought will transform into a product or service.
So let's look at a unfilled contract derived by share prices being to low. We then will examine how forward splitting the shares can boost the fulfillment of the contract.
Breaking a contract comes with a penalty due to the goodwill the company has put forward in the form of advertisements, fixed asset costs ect.
This breaking of a contract will often result in the service or product being returned back to the company. The company will carry on that offered the security but the middle management and public entity often will fold.
To much equity and outstanding debt is not what one wants too see along with unfulfilled liability on the contract between the two parties involved.
So let's step up and support this offering to take the liability of the books.
http://www.theoutageexpert.com/
Watch the clip. We are going to move up wards in a hurry.
Well then that's it. No more paper to be sold in this round. I just got back from holidays / business trip.
Here's Daves new timeline. The wheels of justice turn slowly.
https://www.sec.gov/alj/aljorders/2017/ap-4914.pdf
Bought out for $1 by Walmart, lol just kidding but can't be a bad sign
What is going on?? We're back to .0001 and we are off the pink sheets. Anyone know anything.
I hope he goes to jail and his ass ends up looking like a clowns pocket
Damage is done my friend. I she's hard getting blood from a stone as they say. The rocks that were personally purchased are worth half there value today by consensus. Art is all in the ones eye who commissioned the art in the first place.
Then at auction, you just never know. There could be a silver lining at the end of all this.
keep us posted-- thanks
In case you missed it. I read last week that the judge had put DF's hearing till today. Haven't checked if it's for sure happening.
https://www.sec.gov/litigation/complaints/2017/comp23855.pdf
I think today's his first day in court. My guess is nothing else happens till that's run its course, however he pleads, loses or wins. Jail won't help or hurt us, but we might get some satisfaction.
Yep.
What a POS.
T.
I guess David got out of the freight business and now splits his days working at Fifi's fine apparel as the head cashier. He also works at Lakewood Florist making wedding arrangements.
Your point .000001 is the new par value after the forward split. The par value as you know is the cost associated in selling and administering the equity debt purchased.
Now one must not forget that there is prepaid costs associated too the treasury stocks that will be sold down the road along with the cost of the dilution ie: collateral costs.
Theses costs are all owed back to the original debt purchasers and there for subtracted from the equation equity = (Liability - assets) - treasury stock
Now the brackets perform a very positive outcome as noted. Let's give the liability figure 100 and assets 50 along with treasury stock being also a 100
As you can see you would end up with a negative 50 as your equity position. Well that figure represents outstanding shares owed at the new par value you noted $.000001
I hope this cleared things up for folks out there in our cyberspace. Now as far as how this money is to be raised and paid is still to be determined but as it has been said Rome was not built in a day. A lot of times a great portion of capital is goodwilled to University Programs giving the supporters first rites to acquiring any scalable and sellable technology that may come from theses programs that our up and coming sharp minds are developing.
Buy, buy you just never know what may develop.
Nope. This is why as we have been explaining to many investors here over the years.
http://www.abi.org/abi-journal/protecting-trading-markets-and-nols-in-chapter-11
Buy buy my friend.
So is anyone selling at .0000001 i will buy up to certain amount but dont know how its now frozen on pinks and if hank is still the president can i get his number.
Keep working it , my friend. You will get your asking price of $.0002. It will be a nice $1000 dollar profit for you before your costs are counted into it.
Tim, you have to send me your new cell number my friend. Look I have been out of this stock for some time. No volume. Going into it as you know the assets were negative of the debt owed. If you reversed calculate the interest payments being paid it wasn't sufficient too meet its obligations to debt holders.
Now true enough after this forward split of the outstanding shares owed not the issued but the float as you know must move in conjunction to anything they do to the outstanding shares. Bottom line, and you hit it on the nail is there is no floor to stand on. Until there is a massive share reversal adjoined by a updated financial stating some kind of a return for the common folk and not just the preferred shareholder ie " equity holder " or collateral holder.
The bottom line, my chum, I would be very careful here. That goes too all other bottom suckers out there as well.
Mmmmm must of been another forward split that took place. Go figure they must of rounded up more collateral from somewhere to leverage on to sell more debt to Joe public. For me I'm out, no foundation to stand on anymore. Sly are you still messing around with this one or not. Give me a call bud on my cell.
From Google:
https://www.google.com/maps/place/Integrated+Freight+Corporation/@27.3907789,-82.4437899,19z/data=!4m12!1m6!3m5!1s0x88c338fd3bfed5d3:0x297d9dbb75017d1e!2sIntegrated+Freight+Corporation!8m2!3d27.3905242!4d-82.4435218!3m4!1s0x88c338fd3bfed5d3:0x297d9dbb75017d1e!8m2!3d27.3905242!4d-82.4435218?hl=en
8374 Market St, Lakewood Ranch, FL 34202
integratedfreightinc.com
(941) 320-0789
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Stick a fork in it.
T
.00000000000000000000000000000000001 !!!!!
Welcome to Turd Central.
This thing is done.
T.
pops lost $10k on nlef and is now laughing
good to see the dove get shot down
stick him in with shkreli and let them rot
this will get deregistered too and you will end up with a dead cik in your port
How did it get to .00001 if it's not even trading
we are still listed in the greys-- difficult to trade IFCR
http://www.stock-trading-warrior.com/How-to-Pick-Stocks.html
Good luck guys.
Buy low sell high. This is it guys and gals, time to load her up.
I guess we're out of trips and into quintups!!!
I was just on scottrade and the volume was just under 4 million.
my account is with scottrade and was valued at 5000 now it's at 50. So you can buy 100,000,000 share for a $100. wow.
The only thing I'm glad about is the HH and DF had several hundred millions shares I think they had to eat. With a little effort they should have been able to turn this company around, unless there was stuff in the financials they didnt want to be made public, which appears to be the case.
I had TD Ameritrade put in a special order. Broker thought mm might buy. Sold last of it. I had 8m
still listed on the GREYS!
Fidelity had it removed to inactive yesterday-TODAY its back in the portfolio!
Seems like it officially is gone. The money got taken out of my account for whatever the value was at .0001 today
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http://integratedfreightinc.com/
Integrated Freight Corporation, through its subsidiaries, provides truck load services in the United States.
We carry dry freight, refrigerated freight, hazardous waste materials and provide long-haul, regional, and local services.
Furthermore, we offer freight brokerage services. Integrated Freight Corporation is based in Bradenton, Florida.
Form Type | Received | Period Ending | Downloads |
---|---|---|---|
DEF 14C | Monday, January 11, 2016 | Monday, January 11, 2016 | PDF RTF XLS |
PRE 14C | Tuesday, December 29, 2015 | Tuesday, December 29, 2015 | PDF RTF XLS |
10-K/A | Friday, August 7, 2015 | Monday, March 31, 2014 | PDF RTF XLS |
10-K/A | Friday, August 7, 2015 | Tuesday, March 31, 2015 | PDF RTF XLS XBRL |
10-Q/A | Friday, August 7, 2015 | Monday, June 30, 2014 | PDF RTF XLS |
10-Q/A | Friday, August 7, 2015 | Tuesday, September 30, 2014 | PDF RTF XLS |
10-Q/A | Friday, August 7, 2015 | Wednesday, December 31, 2014 | PDF RTF XLS XBRL |
8-K | Tuesday, July 14, 2015 | Friday, July 10, 2015 | PDF RTF XLS |
10-K | Tuesday, July 14, 2015 | Tuesday, March 31, 2015 | PDF RTF XLS |
NT 10-K | Tuesday, June 30, 2015 | Tuesday, March 31, 2015 | PDF RTF XLS |
Typically, we work directly with management to enable the company to fully utilize its resources.
Our investment strategy is focused on growth and value creation.
We look for companies that meet the following criteria:
The above criteria may be mutually exclusive to certain opportunistic situations that we believe are highly undervalued.
However, solid Company fundamentals must exist in order for us to consider any direct investment.
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