NAPLES, Fla., Oct. 23, 2007 (PRIME NEWSWIRE) -- Innovative Food Holdings, Inc. (Pink Sheets:IVFH) announced today that it has submitted its revised 2004 and 2005 audited financial statements to the SEC. Following consultation with staff of the SEC, the Company decided to voluntarily request that the SEC review the revised financial statements prior to their being filed with the SEC to insure that the SEC was satisfied with the nature of the changes. There is no indication as to how long this process will take and until the process is completed the financial statements will not be publicly available. The Company intends to formally file the audited financial statements publicly once the informal SEC review process is completed.
In addition, the Company's 2006 audited financial statements are nearing completion and once the audit is completed the Company intends to submit them to the SEC under the same process.
The Company is also in the process of completing its quarterly reports on Form 10-QSB for the first three quarters of 2007 and intends to submit them for filing as well. Once the Company has completed all its filings and is "current" in its filings, it is the Company's intention to apply to have its common stock quoted on the OTCBB.
Sam Klepfish, the Company's Interim President, stated, "This has been a long process for all of us and we intend to continue working to expand our core food business operations, explore complimentary activities related to our core business, and maintain our financial records with a view towards building long term value for our shareholders."
Innovative Food Holdings, Inc., through its wholly owned subsidiary Food Innovations, Inc., provides, with a commitment to chef level extreme quality and service, gourmet food products to discerning chefs throughout the United States.
This release contains certain forward-looking statements and information relating to Innovative Food Holdings, Inc. (the "Company") that are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events and are subject to certain assumptions, including those described in this Release. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, or expected. The Company does not intend to update these forward-looking statements.