At least one of the trucking outfits sued IFCR to back out of being acquired. IFCR, as the holding company, was to manage the operations. Evidently, IFCR could or would not pay insurance costs and the subsidiary wanted out.
I may be wrong, as not much was made public, but some share holders here did some digging and made some phone calls. See..
"In May 2016 the former owners of Smith Systems Transport, a wholly owned subsidiary of the Company, filed suit in the District Court of Lancaster County Nebraska claiming that the September 2008 sale of Smith to the Company should be rescinded. The Company is aggressively defending this case and is confident that it will prevail, as the former owner was a member of our Board of Directors and the President of this wholly owned subsidiary. "
And they may have lost American Trucking & Logistics to a creditor as well. See......
"In 2014 a subsidiary of the Company reached agreement on a three million-dollar ($3,000,000) line of credit with a lender for the purposes of acquiring American Transportation and Logistics as well as other regional truckload motor carriers. Our subsidiary drew down $500,000 to fund the acquisition of American Transportation, a carrier in New England. The lender issued a notice of default that became cured and then defaulted in 2015. The Company and the lender are negotiating a settlement of this dispute.
Those quotes were from an 8K Dated Oct. 28, 2016. I don't really know if there is anything left here except debt holders and billions of shares.
WE MUST ALL REALIZE THE DIFFERENCE BETWEEN HOPE & EXPECTAION BASED ON GIVEN FACTS.
