Listed in: Integrated Freight Corporation (OTCBB: IFCR), Sarasota Florida Trucking and Freight Companies, motor freight company providing long-haul, low cost motor freight company , trucking industry investment news , long haul freight services, long haul trucking services, get a quote for freight services, publicly traded freight delivery company, Paul A. Henry of Integrated Freight Corporation
Integrated Freight Corporation (OTCBB: IFCR)
Remember this headline for IFCR?
Integrated Freight Locks Up 49.5% of Its Common Stock
Integrated Freight Corporation (“Integrated Freight” or the “Company”) (OTC.BB:IFCR.OB – News), a rapidly growing motor freight company, today announced that executive officers and certain private investors and outside shareholders have entered into a six month lock-up agreement with the Company. As of September 16, 2011 Integrated Freight has effectively locked up and restricted from trading a total of 18,966,170 shares of the Company’s common stock, collectively representing approximately 49.5% of the Company’s 38,332,083 total shares outstanding. This total outstanding number includes 2,000,000 shares currently in rescission related to the Triple C Transport transaction and 750,000 shares issued but not earned related to a pending acquisition. The restricted period commenced September 16, 2011 and will be in effect until March 16, 2012 with the option to mutually extend the period for another six months. The lock up agreement stipulates that executing shareholders will not directly or indirectly trade, sell or otherwise transact in their portion of the common shares of the Company during the stated period. (Underlining by the editor)
“We are enormously gratified by this show of support for our Company’s business model and acquisition plan. The continued belief in our management team reflected by the execution of these lock up agreements cannot be overstated,” said Paul Henley, CEO of the Integrated Freight.
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