IFCI INTERNATIONAL CORP.

2007-2009: From mining to a new name

The company was incorporated on April 27, 2007 as Adicus Energy Corp. and renamed Iron Head Mining Corp. that October. As Iron Head it held an option on a mineral claim in British Columbia, with about $75,000 of payments and exploration promised through September 2009. In March 2009 it became The Connect Corp., the first sign of a move away from exploration. In April 2009 Michelle Pannoni, whose background was in web-based marketing and member-based savings systems, joined as an officer and director. Two months later she and CEO David Saltrelli resigned, and Ken Waters signed filings as President and CFO, though no filing records how he was appointed.

2010-2011: A savings-system plan and a lone officer

The FY2009 10-K showed $48,207 of expenses for the year and no revenue. The stock, which traded under the ticker CNNC.OB, had risen from $0.10 in late 2008 to as high as $1.02 by the end of 2009, with only 30 holders of record. In June 2010 Pannoni resigned again, leaving Waters as the sole officer and director. The FY2010 10-K described a plan to raise capital to complete and launch a web-based membership savings system. Losses since inception reached $74,244, and the auditor raised going-concern doubt, meaning it questioned whether the company could keep operating. Shares outstanding stood at 55,500,000, unchanged since the 2009 forward split.

2011-2012: Another rename, still searching

On December 13, 2011 the company became IFCI International Corp., its fourth name. The FY2011 10-K showed no revenue, the same 55,500,000 shares, and cumulative losses of $115,618, funded only by loans from officers and directors. The savings-system plan appears to have gone nowhere, and the company said it was looking for additional business opportunities. Its last filing in the record, the Q1 2012 report of May 18, 2012, put cumulative losses at $121,591, still with no revenue and no new business.