Nice work Witty but can I point out a couple of things...
The A/S increase to 10B ordinary shares was needed to cover future acquisitions but not directly; any acquisition was going to be made using cash and preferred shares - the ordinary shares had to be available in case the individuals being acquired wanted to exchange their preferred shares for ordinary shares.
The only way that the O/S would be anywhere near 10B is if these acquisitions have already taken place and the the preferred shares have ben exchanged.
If this is the situation, IFCR has a couple of new subsidiaries which if I remember correctly, were going to be worth about $20M (that might not be correct but it's certainly a significant revenue stream).
If this is NOT the situation, then the O/S is nowhere near 10B and the projections made could be on the low side...
The other thing that I'm wondering is about the delay in filings and the excellent DD that was done by Invest4MyNest, specifically about Morris Trucking (which if my memory serves me right was one of the existing subsidiaries when DF took over).
If it has recently closed (July/August 2016) – post #27739 suggests that this might be the case, I can understand why DF would want to wait and delay the filings to include this important information.
When I spoke to him a few weeks ago he stated that he was quite open to getting rid of any ‘troublesome’ businesses and this might just be an example of this happening.
I wouldn’t be surprised if Smith went the same way once the litigation is settled – who knows it might have been resolved already and will be included in the filings….
Just a couple of things to think about on a Sunday morning…
A good Labour Day to you all from across the pond in Europe…
Per Ardua Ad Astra…
AI
