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It might have been a lot cheaper to complete the 10K than face the wrath of the share holders. The attorneys will cost more than the accountants would have. Not to mention jail time if fraud has taken place.
The only positive thing I can add to this is that, from memory, nearly every PR released has been followed through with. I too feel that the audit should not have been halted and it does seem that there is a rat in the woodpile but I have no option at this time except to believe the PR and Steve's intentions are legit.
Time will tell. I just hope it is not another year or more.
Been a busy day at work today and seems I missed all the drama. All I can say right now is "WOW!" Going to have to have a couple beers and sleep on this.
We haven't lost unless we sold. Story isn't over yet, they just put the book down for way too long. When they finally release the fins it will take a while to get anyone interested again. Let's hope they are good when we finally get them.
And still...............we wait!
Just a rant. That is what would have been fair IMO. I know the final distribution is all we will get but it should have worked out better for us than it did. It is shameful and they know it. Justice is never really served, just depends on who has the most money to make the best argument. In a perfect world things would have worked out differently but I guess we wouldn't have had the opportunity either.
1 CHMT share for 4 CEMJQ shares sounds fair to me. Close to what it would have been had they treated the legacy shareholders fairly. The company was not bankrupt just caught in a credit mess that the shareholders bore the expense for. I too did well with this one but most companies that didn't fold did not profit from the BK process like Chemtura did and didn't slam the shareholders in the process. Reference PPC and Owens Corning.
Maybe IFSL buying back some shares before earnings release?? Or maybe just another sucker like the rest of us rolling the dice to see what happens.
Just a hint of something going to happen and this will suddenly be .001. It happened a couple years back on a rumor. If someone suddenly took this over and cleaned up the shell you might see some real fireworks ............... someday! I just don't know if any of us will still be alive to profit from it. Maybe our kids or our kids kids.
It seems they have either chosen another joke of an accounting firm to handle this or they are not getting the information to them so that they can complete their work. Who is really at fault and who will they try to blame it on this time?
There never has been a sense of urgency with these guys to get things done. They are pattern procrastinators! I guess by now we should all be used to it.
That is a present we could all share. It seems my account has reached a new all time low thanks to IFSL. Still hopefull but becoming more doubtful. Come on IFSL management, Show us the 10K!
Happy Birthday Flo!
Hope you have a good one! It would be nice if IFSL would give us all a present today and roll out some numbers.
Dreamy, I doubt you can force out of them what they do not have. Complete and audited financials. I agree though, taking way -way too long. Simply asking us to be patient is rediculous. They should give all shareholders of record before any news is released a 20 cent divy or other bonus. Of course this would have to exclude all company executives.
I have to believe they are working to get the 10K out as quickly as possible. They have crossed too many hurdles to get where they are and I don't believe they will let this go until it is done. The temper tantrum that the former accountants had may be a bad sign and it may just be simple personality issues. They may have took on more than they could handle or someone made it worth their wile to push IFSL to the end of the line and when they realized they weren't going finish on time they blew up and played the blame game like a kid caught in a lie. I wish we knew the whole truth but here we are. Speculation can't do us any good. All we can do is wait until the numbers are revealed and hope those of us that bought into it were right. The only comforting thing to me is that the shares seem to be held pretty tightly because the number of shares traded in this range has been relativly small. Good luck to those that are holding. Take some time away from the PC and go do something fun to distract yourself when it gets to be too much to bear. I guess I can wait another month but I sure don't want to.
I have accumulated quite a few shares hoping we would see that number again. At this time $2 leems like a lofty goal but if they can get their act together and tow the line for a couple more quarters it is very realistic. Sure I will sell some before we get there to get my original investment back but I will let a large chunk ride to see where this can go.
You might be right about those that will jump ship but if the price makes a significant move north, hope and greed will likely prevail and they will hold expecting a multidollar price in the near future. All they have to do is fix this mess and the excitement will come back. 2 reports are way overdue and a 3rd is near. If they get back on track and start releasing numbers timely and maybe even start beating the deadline by a few days, confidence will return and we should be getting a realistic price based on the P/E and not just the gloom and doom disaster price we now have.
At least we can hope for that.
Looks like someone couldn't stand it any longer and finally hit the ask at $.28. Yay! At least my account feels better.
I think it has to be for at least 5000 shares or it doesn't make the list. However, just 1 share will put us back at the ask.
Well happy birthday. $0.05 should make your day. Beat down for $12.50. Now somebody come on and hit the ask and make us feel better about it.
Well. Better than a poke in the eye. But I think that is actually what we got.
If I have the right Ed Litwak he/she friended me on Facebook. Still won't respond to emails. Profile listed as female. Maybe it's Genna's account.
Sweet Dreams but I would be very happy if we broke $2 when the fins are released.
Good move Isle. This price is a no brainer. Unless the new accountants uncover some really egregious bookkeeping flaws from the 3quarter report it is sure to double and likely quadruple from this point. The waiting is the hardest part.
I wish it were me. I don't think this will stay here for long once earnings are finally posted. I know there are those that disagree but I feel good about my position.
I thought it might have been you!
Wow! Somebody blew a whole $50 to drop the share price to $0.11.
Unfortunate that some are so desparate that they must sell here when we are only a couple weeks from the fins. Wishing I had funds to throw into this at this level. Maybe I'm crazy and overly optimisic but I don't believe IFSL is down and out.
Maybe so but at this point in time I would settle for 0.0002.
I'm with you jrock. IFSL management is/had better be/ walking on eggshells right now. Yes I want to see the 10K and I want to see it now but what I don't want is something that is rushed up and put out half ass only to get revised multiple times later. Folks need to keep in mind most accounting firms are gathering and analyzing data over the course of the year to get the 10K out in the normal 45-60 days after the books close on the year. I think the target given is probably accurate and within reason of a normal 10K release for any accounting firm that stepped in cold and tried to catch up. All I wish right now is that I had additional funds to throw at this. I have very good confidence this is an easy double from here but I am counting on a 10 bagger once they release the numbers and prove the impatient naysayers wrong.
I know I will get slammed for posting this but I still believe in IFSL and, even though patients has run out among most investors, I believe we will see a decent 10K when they finally get the report out. It is getting old but the best thing we can do is stay away from the computer to minimize our stress. Keep checking once a day if you have to but you know what they say about a watched pot!
Good luck IFSLErs!
Don't know what to post. News release definately means that we will not have fins by the 18th of May. Hopefully before June though. Good grief. Hopefully they release some good numbers and redeem themselves and us mods for supporting them.
The bid is currently .18. I can't see what it was during the actual trade. Did the bid fall that low today or did these shares get executed below the best bid price? Not a lot of money has changed hands. Could just be manipulation.
Any way to find out what remains for distribution to the shareholders?
OT - Tree Farmer. Do you know this guy?
DO YOU KNOW THE FRONT FROM THE BACK OF A TREE?
A REDNECK FROM BAXLEY GEORGIA DECIDES TO TRAVEL ACROSS THE SOUTH TO VIRGINIA TO SEE GOD'S COUNTRY. WHEN HE GETS TO FRANKLIN , HE LIKES THE PLACE SO MUCH THAT HE DECIDES TO STAY. BUT FIRST HE MUST FIND A JOB!!!
HE WALKS INTO THE INTERNATIONAL PAPER COMPANY OFFICE AND FILLS OUT AN APPLICATION AS AN EXPERIENCED LOG INSPECTOR.
IT'S HIS LUCKY DAY!!! THEY JUST HAPPEN TO BE LOOKING FOR SOMEONE, BUT FIRST, THE LOG FOREMAN TAKES HIM FOR A RIDE INTO THE FOREST IN THE COMPANY PICKUP TRUCK TO SEE HOW MUCH HE KNOWS. THE FOREMAN STOPS THE TRUCK ON THE SIDE OF THE ROAD AND POINTS AT A TREE "SEE THAT TREE OVER THERE? I WANT YOU TO TELL ME WHAT SPECIES IT IS AND HOW MANY BOARD FEET OF LUMBER IT CONTAINS."
THE REDNECK PROMPTLY ANSWERS, "THAT THAR'S A WHITEPINE, 383 BOARD FEET OF LUMBER IN 'ER."
THE FOREMAN IS IMPRESSED!!! HE PUTS THE TRUCK IN MOTION AND STOPS ABOUT A MILE DOWN THE ROAD. HE POINTS AT ANOTHER TREE THROUGH THE PASSENGER WINDOW AND ASKS THE SAME QUESTION. THIS TIME, IT'S A BIGGER TREE OF A DIFFERENT CLASS..
"THAT'S A LOBLOLLY PINE AND SHE'S GOT ABOUT 456 CLEAR BOARD FEET."
THE FOREMAN IS REALLY IMPRESSED WITH THE GOOD OL' BOY, HE HAS BEEN QUICK AND GOT THE ANSWERS RIGHT WITHOUT USING A CALCULATOR. TIME FOR ONE MORE TEST.
THEY DRIVE A LITTLE FURTHER DOWN THE ROAD, AND THE FOREMAN STOPS AGAIN. THIS TIME, HE POINTS ACROSS THE ROAD THROUGH HIS DRIVER SIDE WINDOW AND SAYS "AND WHAT ABOUT THAT ONE?"
EVEN BEFORE THE FOREMAN FINISHES POINTING, THE REDNECK SAYS, "WHITE OAK, 242 BOARD FEET AT BEST."
THE FOREMAN SPINS THE TRUCK AROUND AND HEADS BACK TO THE OFFICE A LITTLE TICKED OFF BECAUSE HE THINKS THE RED NECK IS SMARTER THAN HE IS. AS THEY NEAR THE OFFICE, ANOTHER FOREMAN STOPS THE TRUCK AND ASKS BUBBA TO STEP OUTSIDE.
HE HANDS HIM A PIECE OF CHALK AND TELLS HIM, "SEE THAT TREE OVER THERE?" "I WANT YOU TO MARK AN X ON THE FRONT OF THAT TREE!!"
THE FOREMAN THINKS TO HIMSELF, "IDIOT, HOW WOULD HE KNOW WHICH IS THE FRONT OF THE TREE?"
WHEN BUBBA REACHES THE TREE, HE GOES AROUND IT IN A CIRCLE WHILE LOOKING AT THE GROUND. HE THEN REACHES UP AND PLACES A WHITE X ON THE TRUNK. HE WALKS BACK TO THE FOREMAN AND HANDS HIM THE CHALK. "THAT THAR'S THE FRONT,"THE REDNECK SAYS.
THE FOREMAN LAUGHS TO HIMSELF AND ASKS SARCASTICALLY, "HOW IN THE HELL DO YOU KNOW THAT'S THE FRONT OF THE TREE?"
THE GOOD OL' BOY LOOKS DOWN AT HIS FEET, WHILE RUBBING THE TOE OF HIS LEFT BOOT, CLEANING IT IN THE GRAVEL, AND REPLIES, "CUZ SOMEBODY TOOK A SHIT BEHIND IT!"
HE GOT THE JOB.
Scottrade shows bid at $.22. Someone is really soaking up the shares at $.279 today.
I agree. Not sure why the business should be seasonal. People always need financial help and cash. I would think even more so after Christmas spending and trying to get current with credit companies. Logically it seems Q1 should be the best quarter.
Just trading on emotion now. No news means the reaction isn't justified. This is a really good point to pick up some shares if you have cash. Selling here just doesn't make any sense.
Have you ever seen the studies where they put someone in an isolated room without any contact with the outside world to see how long they can take it. That is us right now. Some can handle it and some can't.
Hate to see it this low but it only helps me in my current situation. Just hang out here or drift down until after May 8. After that date my ordeal is done and then hopefully we get some good news. I believe it will be good and the sellers that unloaded shares here will regret it. Right now I regret not being able to average down some more.
Welcome new Moderator SoDreamy!