Integrated Freight Corp (OTCMKTS:IFCR) Surges On News

[[tagnumber 0]][[tagnumber 1]]Even though the stock of Integrated Freight Corp (OTCMKTS:IFCR) was going up and down the charts through most of this year it did lose a lot of its value as the general direction in which it was headed was downward. In fact, IFCR lost about 85% of its value between January 30 and June1, before jumping on news.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The excitement quickly disappeared and we saw [[tagnumber 6]]IFCR[[tagnumber 7]] deflate. That was, however, until yesterday. During the weekend the company issued a press release announcing that it has filed its Q3 report and has become compliant. The three quarterly reports that were missing came several days apart, with the latest having these contents in its balance sheet.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $9,066!!![[tagnumber 13]] [[tagnumber 12]]current assets: $4.29 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $16.01 million[[tagnumber 13]] [[tagnumber 12]]quarterly revenues: $4.75 million[[tagnumber 13]] [[tagnumber 12]]quarterly net loss: $330 thousand[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Yes, IFCR has recorded some pretty decent revenues, but we just can’t let the other numbers slip like that. The cash reserves of the company are virtually non–existent when you compare them to the massive liabilities. IFCR is also still unable to operate at a profit.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Despite that, however, the words used in the company’s latest press release will probably make you feel like everything is going okay, which is simply not the case. Let’s see what Mr. David N. Fuselier, CEO of [[tagnumber 6]]IFCR[[tagnumber 7]] had to say: “[[tagnumber 32]]During Q3 we incurred a small loss but were able to improve net income $250,000 over last year‘s comparable period[[tagnumber 33]].”[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]In fact, the “[[tagnumber 32]]net income[[tagnumber 33]]” has not improved, simply because it is the net LOSS that has been lowered. IFCR has never recorded net income. One of the main reasons for the lowered net loss, however, is $220 thousand that were recorded as “[[tagnumber 32]]gain on debt settlements[[tagnumber 33]]”.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]In the same time we see that not only the revenues for Q3 are lower compared to the previous year as suggested by the press release in which Mr. Fuselier said that the company would “[[tagnumber 32]]record a loss or be less profitable than other periods[[tagnumber 33]]”. The company’s revenues for the last 3 reported quarters is lower overall and the term “[[tagnumber 32]]profitable[[tagnumber 33]]” sounds a bit out of place as, mentioned earlier, [[tagnumber 6]]IFCR[[tagnumber 7]] has never recorded net income.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, the lawyer grammar paid off and we saw [[tagnumber 6]]IFCR[[tagnumber 7]] gain an impressive 100% in yesterday’s session, closing at $0.003. There was also a spike in volume, but the massive 63.25 million shares that changed their owners only managed to generate $161 thousand in daily trade value.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]So far [[tagnumber 6]]IFCR[[tagnumber 7]] is doing good in today’s session, sitting 20% up as of the writing of this article. This, however, doesn’t mean that you should skip on doing your due diligence and weighing out the risks before putting any money on the line.[[tagnumber 2]]