Morning all...
Lots of interesting stuff floating around about IFCR.
I read the latest release as the RS is cancelled but there's a share increase - that's logical if IFCR wants to stay public (because there are too few shareholders if the RS goes ahead) and is good for us in my opinion, as it proves that the lights are still on and HH wants to keep the company going.
Why did DF leave - perhaps there was disagreement with HH about the above but I spoke to him and he did mention that resigning was an option to then start a class action suit against the Smith subsidiary - I don't know if that's going ahead but it proves that DF was considering resigning as an option.
What about the audits and late filings? If we believe what was said a while ago, there was a lot of work done and the audits (minus Smith) were almost finished so although we're still delinquent, it's probably not as bad as it seems and could probably be rectified relatively easy and perhaps HH is building bridges with Smith. I spoke with DF a number of times and I can see how he could upset people, perhaps they were playing Good cop / Bad cop - who knows???
I'm certainly not giving up on IFCR but I do still see some challenges, not least a possible stock market crash and recession in the not too distant future.
Let's see what happens, who knows we may get some good news soon...
Per Ardua Ad Astra
AI
