Thanks saratag. I have been an owner of IFCR for over a year and am completely convinced the stock is a multi-penny runner. As for the info I used, other than the noted (imo) parts, everything is either quoted or has been gleaned and compiled from over a years worth of PRs.
Looking into Smith Systems, they represent about $10M worth of run rate revenues and are therefore the biggest subsidiary. They were not included in the final audits. However, IMO, they have been audited. Why? Smith Systems is a legal entity of IFCR, when they discussed leaving IFCR they were promptly served with litigation. Looking from Smith Systems, they have nothing to lose from staying with IFCR and have a great deal of money to lose if they choose to buy themselves out of their parent company. Therefore I believe that Smith Systems will do the smart thing financially and stay with IFCR. This being said, since David has been attempting to rally a PR train filled with audits, acquisitions and management announcements, I could even see him PR the audits twice, the first time without Smith Systems and the second time with Smith Systems, increasing the stock rally.
All in all, this stock is David's "baby", he has worked hard on this company for years and the company has turned it all around, eliminating debt, increasing revenues, increasing EBITDA, increasing acquisitions, and strengthening management. Therefore, I understand his desire to line up all his ducks in a row before the PR barage, so as to have the greatest effect on the pps. Let's face it, this is the longest we have gone without a PR, IFCR will PR the audits, IFCR will PR the Acquisitions, IFCR will PR the CFO change, IFCR will run.
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