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Not expecting too much from the reaudited filings as we already have a good idea what they should say (as they've already been filed once before).
What interests me is the the 10K for this last financial year which should highlight the current O/S as well as debt reduction, litigation settlement, perhaps even some big investors as well...
That's what I'm waiting for - hopefully by the end of June as promised...
Per Ardua Ad Astra
So now it's only '...almost guaranteed...' to go bankrupt - slip of the tongue/keyboard or are you wavering in your position.
You must be concerned that your reputation will be trashed beyond repair and you'll look like a complete doofus if it doesn't go to BK - hell it might even climb and then where would your credibility be...
I'm assuming that you're referring to good news - if so I can completely understand why he wouldn't put it out...
We've seen in the past how individual news releases do little to impact the SP, what not leave for another few weeks and release it with the filings etc...
That's what I'd do if I was in his position...
I'm assuming that you're referring to good news - if so I can completely understand why he wouldn't put it out...
We've seen in the past how individual news releases do little to impact the SP, what not leave for another few weeks and release it with the filings etc...
That's what I'd do if I was in his position...
I'm suggesting that if patents are approved, YA Global might swoop in and take them as a settlement for default of loan agreements...
I've been wrong on a number of occasions but I rarely state that something is "...here for good" which suggests an air of confidence in your quote, almost if you want to be seen as giving an "expert" opinion...
I guess we'll see next month with the filings come out...
I've admitted that I'm far from perfect, are you willing to admit that you might be wrong on this occasion or ore you sticking to your story???
Per Ardua Ad Astra
They could be waiting for a European Patent to be granted or possibly some changes by the FDA to protocols on using adipose derived stem cells and then they pull the plug and walk away with ALL of the patents to sell to the highest bidder...
So I guess that if it moves away from NB or heaven forbid, out of the trips, then your credibility is down the pan...
You seem so sure of things that you must be willing to bet your reputation on it staying at NB - am I right???
By my reckoning and based on the last update we should see the filings for 2014 and 2015 at the beginning of June and the latest 10K for 2016 towards the end of June.
I'm not too bothered about the refiling as they're already out there, the big one is the 10K for 2016 plus any 10Qs that they will file.
Then we'll get greater clarity on the debt and litigation settlement as well as a more accurate number for the O/S. Then we'll be ready for lift off.
My gut feeling is telling me that the O/S won't be as bad as people seem to think - I don't believe there's been as much dilution as others would have us believe. If it is dilution, it's quite possible that it's coming from the recent acquisitions which is fine by me...
Per Ardua Ad Astra...
You've not answered my question Blue - what would YOU do if you were in his position?
That's all I want to know - how would you have handled the debt / litigation / acquisition?
I agree Arnold, my question is directed at the idiots who keep slamming DF and HH.
If they were in DF and HHs shoes, what would they do differently?
I'm just wondering what other people think the management team SHOULD be doing...
If the dilution is being used to get rid of debt, what's the other option - don't get rid of the debt and keep on paying the extra interest that's being accrued???
If the dilution is being used to finance acquisitions, what's the other option - stop the acquisitions???
That would mean we'd still have revenue of approximately $20 million but we'd paying a truck load of interest on the unpaid debts.
WHAT ELSE CAN THEY DO - DOES ANYONE HAVE ANY CONSTRUCTIVE SUGGESTIONS???
At some point n the near future (hopefully), we'll be debt and litigation free with revenue over $30 million.
Rather than simply criticise 'Dumping Dave', can anyone suggest a better alternative that would move IFCR forward...
Per Ardua Ad Astra
You're right G&L, it's not what is happening now that is important, it's what happens WHEN the filings come out, WHEN we see the revenue and profit numbers, WHEN we see the debt reduction and litigation settlement that has taken place etc etc etc...
This is great news and shows the ongoing commitment to turning the company around. Over the past months I’ve been impressed with both DF and HH on the times that I’ve spoken to them.
Like many longs, I don’t believe all the crap that some people have been talking about Dumping Dave etc; you all know what I mean.
Yes, the share price should be trading much higher and I do believe that it will move up but it’s going to take a lot of momentum to move it. We’re in a place where it’s easy to buy at trip 1 and sell at trip 2 for a 100% profit or vice versa for the brokers and MMs.
Just because the filings are going to come out imminently doesn’t mean that the SP will fly up, there are forces at work here that are manipulating the price to their own ends, we’ve seen it time and again.
There have been some big trades lately the so called ‘dumping’ of 50M shares; Blue Horseshoe would have us believe that over 800M shares have been dumped recently – I don’t buy into that personally but I can agree that over 800M shares have been traded.
I do wonder who is buying them all, sure the brokers are taking some but I have a gut feeling, based on intuition (nothing else I’ve no inside information) that some folks out there are accumulating large blocks of shares here and I don’t know why.
I’m hoping that we’re going to see most of the debt has been cleared (maybe a few million left) and we have some bigger investors coming in
I do like the CFOs comment:
“Fortunately, we will be able to confirm much of our fiscal year end March 2016 period simultaneously."
This suggests that we’ll be getting the reports quickly which will hopefully concentrate the momentum to move upwards – when it does happen I hope it moves quickly but I’ve seen too much manipulation here.
Don’t want to put a downer on things here as I want the SP to move but let’s not get carried away with enthusiasm just yet – let’s keep it for when the filings are released…
Per Ardua Ad Astra
So what is the O/S as of today then?
Where do you get this information from - could you post please?
That's what I've been saying for a while Igor, sadly some people aren't prepared to accept that it's a possibility...
They clearly have another agenda...
That's exactly what a number of people have been saying - just because 500M shares have been sold doesn't mean that they're all newly issued or converted does it?
Personally I think sales of in the region of 40M or so are too big for a retail investor so I do think it's coming from brokers but the same principle eh...
That’s an interesting point G&L, we desperately want to know what the financials say but he has other things to focus on as well.
The fact that I spoke to him last night means that he is prepared to speak to shareholders so anything anyone says to the contrary is BS – there may be times when he’s busy and can’t speak; from my point of view I would rather he spends his time working on turning IFCR around rather than sitting waiting for us to call him.
If I was in his position I would be careful who he speaks to as I believe there are several posters here who speak to him and then post whatever crap they want to – there may be some people her who lie about what he says to them, hell some people might accuse me of that but quite frankly I don’t give a damn what other people think…
He’s busy with acquisitions and negotiations around debt settlement (most of it before DF took over) and whilst he knows that the audited filings are important, they’re in the hands of the auditors and it looks like he’s leaving them to get on with their job.
It seems that a lot people are focusing on the financials and I wonder if that ‘s because people believe that they will prove or disprove what is happening with the company and let’s face is, the bashers will still find fault with something – they have an agenda set on keeping the company at this point so they can work themselves into a frenzy as they buy at trip 1 and sell at trip 2 or 3.
Don’t forget that the release of the financials has to be timed right and coordinated with other news releases about acquisitions, debt settlement and a host of other stuff.
As regards the blowback from the some of the lunatics on this board, I really don’t give a crap as most of their arguments don’t stand up to scrutiny as there’s no proof that DF or HH are liars, cheats, scam artists or anything else like that.
They can’t prove with evidence that DF is diluting – he might well be but equally he might not be, like me they have no proof either way – at least I’m aware of it and accept that there are several possibilities for what’s happening so am I concerned what anyone else thinks – NOPE!
Per Ardua Ad Astra…
I called DF last night and spoke to him for almost 30 minutes…
As CEO, he has to sign off the conversions and he categorically denied dumping any shares – there have been a few small/minor conversions over the last couple of months but nothing like we’ve seen lately.
So guess what, he hasn’t been dumping and anyone who says so is talking absolute BS (my words not his but I believe what the guy is saying).
So who could it be then? It’s probably not retail unless some people are holding big positions and selling them all but at these prices, they’re not going to make a lot out of it.
It could be holders of shares previously converted but if we’re talking over 500M that’s a lot to be holding for a length of time so again probably not.
My best guess is the MMs themselves – they will have sufficient shares to be able to sell 40M or 50M blocks to each other without any great problem but why would they do that? My thoughts are to keep people interested in IFCR until the SP does go up and then sell to these new investors who seem to be waiting in the wings
Just because there have been 500M shares traded in the couple of weeks doesn’t mean they’re all new shares – that’s a poor assumption to make without any proof. That could just as easily be 100M shares traded 5 times…
All this BS about fake walls and millions on the Bid or Ask is pathetic because we’ve seen the MMs drop these at the slightest hint of news so they can put ‘em up or take ‘em down whenever they feel like it – again not very good thinking processes going on here…
Audits are close to being finished according to DF and we may see a communication shortly (I’m not going to be more exact as people don’t seem to like it).
He did say that the next couple of months are going to busy with lots happening (again I won’t elaborate) but it looks like there’s good stuff coming…
My opinions only unless stated otherwise…
Per Ardua Ad Astra
I've been posting on this board and a couple of others for a while now and after watching and listening patiently, I've come to the conclusion that it doesn't matter what any of us says or does, no matter how much we praise or bash this company or how many shares we choose to buy or sell, the MMs control what is going to happen.
They can choose to put up fake walls whenever they want, to deter people from buying or simply to hold the SP down; only when they are ready to allow the SP to run will it do so - the big question is do they want the SP to increase to generate revue for themselves or do they want it to stays in the trips to buy and sell for what are potential big profits for one or two ticks.
Me, I believe that this has the potential to move quickly with the right momentum; the filings that we're all waiting with the removal of yield signs plus news of further acquisitions and news of big investors waiting to come in could just be the catalyst to generate enough momentum to start the move up.
As regards timing, I’ve always believed that DF and HH have the situation in hand – they’re not going to release anything about financials whilst they’re negotiating litigation settlements, it would be dumb to do so – I think they have a game plan and are sticking to it.
We as small investors can bitch and moan all that we like but we’re not that important in the big picture; all those that are claiming that they’ve lost thousands have obviously sold at the wrong time – if you haven’t sold yet than you’ve not lost anything, you just need to hold on until the SP goes back up which it will do. If you’re still holding shares and are actively bashing IFCR I don’t get you, it’s in YOUR best interests to shut the **** up and stop contributing to the problem because you’re not helping to get new investors in.
If you’re flipping then good luck to you because your time is limited…
A couple of weeks ago I had a long discussion with DF (#18596) – he told me that the audits were 3/4 done and should be finished soon, he also told me that there would be a significant amount of debt paid off March/April time which is anytime now. He also that there would a release the next day and guess what, it happened so he can stick to his word.
A lot of people are mouthing off about the supposed releases over the last couple of weeks but if I remember the contents of the e-mail that were posted he used the word “should” and didn’t promise anything!!!
Those of us that are long should hold on to the fact that these guys know what they’re doing – the new CFO wouldn’t get involved with a scam as he has a solid reputation, thinking about that so does DF so let them get on with it…
Per Ardua Ad Astra
You're wasting your time here pal, everybody knows what you're up to....
You can't be that smart if you're still spouting the same BS to people that have been around here for a while - the weak investors have gone leaving only the flippers like you and the longs...
If you're that troubled just leave...
And that's what they're doing Bud, paying off the debt with a mix of cash and shares. If they waited until they had enough cash they'd be paying a lot of interest so it's in the best interests of IFCR to pay it off sooner so cash and shares is the only way of doing it. Yes, this leads to dilution but what else can they do?
The sooner they pays off the debt, settle litigation and clear up the balance sheet, the sooner they can get bigger investors in to generate more acquisitions. If you look at the criteria for acquisition, they're being choosy about who they acquire - niche companies with positive cashflow and profit in a certain range (not too big and not small operations), they're guaranteeing increased profits. The problem is most of the retail investors want immediate profit but DFs in it for the long game.
Remember that a lot has been cleared up already and we're down to the last couple of issues now - once they're gone it will be a completely different ball game and IMO, that's going to happen soon, don't know when but my guess is within the next couple of months.
Give him a call and speak to him, I've done it and so have a number of other people on this board.
Per Ardua Ad Astra
I understand, I've been around a while too and have heard the same sort of things said.
We're both on the same side here and stand to win big whenever the SP does eventually climb up...
I can see a slightly different scenario here...
When I spoke to DF a couple of weeks ago he said that the audits were 3/4 done so they can't be far away from being finished - they may be done already.
He said that 5M of debt/settlement is going to be done by March/April so that's close; he also has big investors lined up ready to move when the time is right, plus there's a lot of interest on these boards about IFCR so I reckon there's a lot of retail investors holding out until news hits.
What I reckon will happen is that the releases will happen within days not weeks, with news of other investors, acquisitions and debt/litigation settlement.
At the moment we can see a big wall on the Ask which makes me think the the MMs son't want to sell too many at the moment; once there's an opportunity for them to sell at a higher price they will and all of the retail investors will jump in and help to drive the price up. Provided they hold on and don't sell too early may also stop the MMs from walking the price back down.
I'm not too bothered about the flippers because they will back out when the price goes up.
I think that DF has a game plan and is waiting until the time is right - the reason this seems to have stalled is because of the issues with the auditors being decertified and having to find new ones.
Just my opinion of course...
The fiscal year for IFCR ends on March 31st so by my reckoning, we're due 3 x 10Qs for the first 3 quarters of FY15/16 plus whatever other annual reports need to be refiled because of the new CFO
PLUS
We're due the 10Q for the 4th quarter (ending 31st March 2016) by 15th April PLUS the 10K for the FY 15/16 due is around 1st July.
I wonder if releases will be timed to coincide with either of these dates? By that time we should also have confirmation of the acquisition on 1st April 2016 as well as settlement of debt and litigation and maybe some news of big investments.
Could be exciting times ahead for IFCR...
Per Ardua Ad Astra
Wonder if we'll hear anything today - Wednesday has been a favourite day for PRs in the past...
Don't think we'll get the filings for a couple of weeks yet though...
Per Ardua Ad Astra
Perhaps we'll get the news update early next week that didn't come out on Friday..
Looks like it's after hours unless it's already out...
Unusual to release information on a Friday - the question is will it come out during trading hours or after the market closes.
Will it be accompanied by dilution as we've seen in the past when news comes out?
Ace, no I don’t think that DF has lied to me…
Has he issued shares – absolutely, how can he possibly remove debt without diluting? Had he not settled the debt it would be costing more in the long run by the time you add interest that would have ben accrued. I also think that a lot of these shares that are been sold now are the result of old debt clearance and not necessarily new debt and 45M shares sold today is only $4500 so it’s not a massive amount…
Before he took over this company was leaking money and lots of it – now he’s pretty much turned it round and with recent acquisitions, we’ll be generating $30M or thereabouts per year.
There’s still things to be done and only time will tell whether the $5M debt will be settled by the end of April s he said to me a couple of weeks ago; after that there seems to be one hostile action outstanding (according to DF) but he didn’t seem concerned by it – the worst they could do is to force bankruptcy on IFCR but they will get nothing from it – the best that this third party is to agree some kind of settlement, at least that way they can walk away with something…
Let’s also remember that DF and HH have more to lose than any of us – they haven’t taken a salary for several years and have been remunerated with shares which if IFCR crashes are worth ZERO – seems to me like they’ve got more to lose financially than anyone else plus DF could lose a lot in terms of reputation.
What I do think is that there are a lot of people out there who don’t want IFCR to move up because it serves their interests to flip or short; I don’t know of you’re one of them or not but GLTY anyway.
I do thin this will rise when everything is in place – DF seems to have a good reputation as does the new CFO – why would they waste their time, effort and money in a lost cause?
Nope, for me he’s the real deal and we will rise and I believe it will be soon…
Per Ardua Ad Astra
My point is the debt has already been reduced because the shares have been issued.
IMO what we're seeing is the holders selling up - they're not new issues, these are already in circulation.
I don't know the ins and outs of the US markets as I'm across the pond in Europe but IF the dilution is pretty much over we may not be in as bad a state as some people are saying.
Just my thoughts...
Ad Astra
When I spoke to DF earlier in the week, I asked him about dilution and he categorically denied that he had been issuing any stock recently but I do wonder if people who have been compensated for debt by share issues have sold up because the SP hasn't moved.
IMO, they could have been issued last year and were held in case of an increase in SP - when it didn't happen the holders decided to get rid of them. Either way the debt has gone and the balance sheet is cleaner for it.
Take it or leave it folks but I believe him...
Per Ardua Ad Astra
Told you yesterday that we'd have some kind of release today!!!!
Some good points G&L and what pleases me is that 2 people have had similar calls with DF several months apart.
Unlike you I’m not too bothered about audits and filings etc; he suggested that they are about 3/4 of the way through the re-auditing process so I guess the filings will happen at some point in the near future.
I get the impression that the filings don’t bother him because he knows that they will happen when the time is right; I also believe that he has some serious investors on the sidelines (I said that yesterday) and they will also commit when the time is right.
Wouldn’t be surprised if they settle the outstanding litigation to get rid of it once and for all which will be a serious step to getting new investors.
IMO, once the filings are current, any stop signs, crossbones or other limiting notices will be removed quite quickly so that’s not a big issue; add to that news of other acquisitions, 10K or 10Qs showing revenue, plus serious investors will have people desperate to buy into IFCR – in my opinion that’s a reality and the only question is when will it happen. Given the call I had yesterday with DF, my money is by the end of June 2016.
Per Ardua Ad Astra
What he said yesterday is that there are 2 outstanding claims against IFCR; the first is for $5M and will be resolved amicably by the end of March/April. The second is not so friendly and is ‘only’ for $2M and this is where the trouble is; apparently it relates to events before DF took over.
BUT
Because of the way the bankruptcy laws are constructed, if they insist on IFCR declaring bankruptcy they will get nothing, nada, zip; so the best they can do is to settle ‘amicably’ – in essence they’re playing hard ball without a ball.
Don’t know the ins and outs of US law so I can’t comment but he seemed to know what he was talking about yesterday – he certainly gets my vote of confidence…
Firstly, I’m British living in France so ‘Vive la France’ ain’t gonna cut it with me chaps…
I don’t necessarily think the audits are the major thing here – I get the impression (IMO only) that he wants to get a number of things in place to present a co-ordinated series of releases to generate momentum to move the SP up and more importantly to keep I up
We’ve seen what happens with individual releases, a small up followed by a drop to ‘normal’ levels; he knows that the sustained momentum will only come from a number of powerful releases, timed to coincide with one another.
As I said yesterday, this is an experienced guy who knows what he’s doing – he has a game plan and is prepared to do whatever it takes to reach his goals – that may involve making some radical decisions but I do believe that he a good handle on what is happening and the tools that he has available to him and how to use them to best effect.
Per Ardua Ad Astra
OK, so I’ve just spoken to DF for over 30 minutes – no big deal you think, I live in France so it’s probably cost me a small fortune BUT it was worth it.
All of you guys that speak to him regularly – you’re right, he is the real deal, and from my conversation with him, he has a game plan and knows what he’s doing.
Expect a release in the next day or so – not major, possibly more of an update but a release nevertheless…
Audits are progressing nicely, bad luck that your auditor is decertified and the same happens to their replacement but they are on track, didn’t ask him when they would be done because I am personally happy that things are happening in a good way.
He expects a significant piece of debt to be resolved March / April time on friendly terms which leaves a much less amount left to resolve – and don’t forget that this is ALL debt that was accrued BEFORE he was involved with IFCR.
There are serious investors waiting on the sidelines for the right moment to commit serious capital which will allow a number of additional acquisitions and let’s not forget, he promised us acquisitions and this week he’s delivered on one with another letter of intent due for an April acquisition.
He’s not bothered about the bashers, day traders and flippers because he’s in it for the long haul and I believe that he’s genuinely looking out for long term shareholders and will do his best to ensure that their investments are safeguarded – remember that he can access lists of shareholders so he knows who WE are…
Lots of other stuff which I don’t want to post but hang on to your hats because when it starts moving, it’s going to rocket…
This was a real call this evening guys, take it or leave it…
Per Ardua Ad Astra
G&L, the problem is there are a lot of people who don't want this to go up anytime because they are doing well buying at 2 and then flipping at 3 or 4.
It's going to take a number of PRs to get this baby moving up with sufficient momentum to get it past the point where it can be flipped so easily.
However, I do reckon that the refiled audits (because of the new CFO) plus the most recent filings that we're waiting for, plus the new website, plus the new acquisition WILL be enough to start the move up.
Just my thoughts...
Per Ardua Ad Astra
Which is EXACTLY the reason why they both want the company to do well - DF has over 116 million reasons to motivate him, while HH has over 70 million reasons...
That's a great question Mike...
Something has to be going on behind the scenes - if this company is as broke as some people say, why the hell would they throw money away on a big salary and of course there's the cost of releasing the PR as well...
I would imagine any institutional investor would want to see an experienced CFO on board before they give IFCR a cent; there's also the benefit of the CFO liaising with auditors which allows DF and HH to get on with running the company.
So we have a new website, a successful CFO recently hired, AS raised to 5Bn (because they probably need more to issue as part of a litigation/debt settlement, the last debt) and a lack of financials because they don't want to tip off the other party on the financials of the company; that suggests the company is doing well in my head...
Too many things happening for a company with a seasoned management team (that is generating in excess of 25 million dollars of revenue and making profit) to be a coincidence...
My opinion only folks...
Per Ardua Ad Astra