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IVFH on OTC

INNOVATIVE FOOD HOLDINGS INC

INNOVATIVE FOOD HOLDINGS INC is an American wholesale-groceries company, incorporated in Florida.1 It is headquartered in Broadview, Illinois.1 Its shares trade on OTC under the symbol IVFH.1

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Last updated Oct 21, 2026.

Overview

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  • TickerIVFH on OTC1
  • IndustryWholesale-Groceries, General Line1
  • HeadquartersBroadview, Illinois1
  • Incorporated inFL2
  • Business address2528 S 27Th Ave, Broadview, Il 601552
  • Filer categoryNon-accelerated filer, Smaller reporting company2

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(6%) per annum for a term of sixty (60) months payable in equal monthly installments with the first payment due one month after the closing.3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

25.8%Gross margin4
4.3%Operating margin4
-3.4%Net margin4
2.1%Revenue growth, 20254
-33.1%Return on equity4
0.03×Debt to equity4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Digital Channels brought in 54% of the revenue INNOVATIVE FOOD HOLDINGS INC broke down this way in fiscal 2025.

  1. Digital Channels$32.5M454%down 7% from 2024
  2. Local Distribution$15.3M425%up 26% from 2024
  3. National Distribution$12.9M421%up 5% from 2024
Products and services by year
Products and services20242025
Digital Channels$35.0M$32.5M
Local Distribution$12.1M$15.3M
National Distribution$12.3M$12.9M

Business segments

Digital Channels brought in 54% of the revenue INNOVATIVE FOOD HOLDINGS INC broke down this way in fiscal 2025.

  1. Digital Channels$32.5M454%down 7% from 2024
  2. Local Distribution$15.3M425%up 26% from 2024
  3. National Distribution$12.9M421%up 5% from 2024
Business segments by year
Business segments20242025
Digital Channels$35.0M$32.5M
Local Distribution$12.1M$15.3M
National Distribution$12.3M$12.9M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue74¢$45.0M
  • Selling, general and admin21¢$13.0M
  • Other costs4¢$2.6M
  • Income tax0¢$80.8K

Out of $60.7M in revenue.4 The company lost money this year.

Financial statements

Revenue567894$60.7M in 2025+5% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $57.9M$57.9M20192020: $51.7M$51.7M2020−11%2021: $62.2M$62.2M2021+20%2022: $78.9M$78.9M2022+27%2023: $70.4M$70.4M2023−11%2024: $59.4M$59.4M2024−16%2025: $60.7M$60.7M2025+2%
Gross profit567894$15.6M in 2025−6% since 2019
0$5.0M$10.0M$15.0M$20.0M2019: $16.6M$16.6M20192020: $13.8M$13.8M2020−17%2021: $17.0M$17.0M2021+23%2022: $17.5M$17.5M2022+3%2023: $17.0M$17.0M2023−3%2024: $15.0M$15.0M2024−12%2025: $15.6M$15.6M2025+4%
Operating income567894$2.6M in 2025+1334% since 2019
-$10.0M-$5.0M0$5.0M2019: $183.8K$183.8K20192020: -$7.4M-$7.4M20202021: -$3.6M-$3.6M2021−52%2022: -$805.7K-$805.7K2022−78%2023: -$2.8M-$2.8M2023+249%2024: $1.3M$1.3M20242025: $2.6M$2.6M2025+107%
Net income567894-$2.1M in 2025
-$10.0M-$5.0M0$5.0M2019: $222.8K$222.8K20192020: -$7.7M-$7.7M20202021: -$716.3K-$716.3K2021−91%2022: -$1.4M-$1.4M2022+88%2023: -$4.4M-$4.4M2023+223%2024: $2.6M$2.6M20242025: -$2.1M-$2.1M2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Revenue$60.7M$59.4M
Cost of goods sold$45.0M$44.4M
Gross margin$15.6M$15.0M
Selling, general and administrative expenses$13.0M$13.7M
Total operating expenses$13.0M$13.7M
Operating income (loss)$2.6M$1.3M
Interest income (expense), net-$30.3K$41.5K
Gain on sale of assets$0$2.8M
Gain on sale of subsidiary$0$21.1K
Other leasing income$2.5K$0
Total other income (expense)-$27.8K$2.9M
Net income before taxes$2.6M$4.2M
Income tax expense$80.8K$0
Net income from continuing operations$2.5M$4.2M
Net income (loss) from discontinued operations-$4.6M-$1.5M
Consolidated net income (loss)-$2.1M$2.6M
Net income per share from continuing operations - basic (in Dollars per share)$0.05$0.08
Net income per share from continuing operations - diluted (in Dollars per share)$0.05$0.08
Net income (loss) per share from discontinued operations - basic (in Dollars per share)-$0-$0
Net income (loss) per share from discontinued operations - diluted (in Dollars per share)-$0-$0
Weighted average shares outstanding - basic (in Shares)54.6M shares50.6M shares
Weighted average shares outstanding - diluted (in Shares)54.6M shares51.3M shares

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Corporate structure

INNOVATIVE FOOD HOLDINGS INC sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of INNOVATIVE FOOD HOLDINGS INC

  • INNOVATIVE FOOD HOLDINGS INC Broadview, Illinois

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What INNOVATIVE FOOD HOLDINGS INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$2.9M4 Dec 31, 2025$2.7M4 Dec 31, 2024+6.1%
Accumulated depreciation$1.6M4 Dec 31, 2025$1.4M4 Dec 31, 2024+11.4%
Property and equipment, net$1.3M4 Dec 31, 2025$1.3M4 Dec 31, 2024+0.1%
Finance-lease assets$205.3K4 Dec 31, 2025$83.3K4 Dec 31, 2024+146.4%
Operating-lease assets (leased space)$512.4K4 Dec 31, 2025$705.5K4 Dec 31, 2024−27.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$927.5K4 Dec 31, 2025$1.3M4 Dec 31, 2024−27.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Intangible assets, net (excluding goodwill)$09 Dec 31, 2024$08 Dec 31, 2023
Indefinite-lived intangibles (excluding goodwill)$217.0K4 Dec 31, 2025$217.0K4 Dec 31, 20240%
Finite-lived intangibles, net$338.1K4 Dec 31, 2025$424.4K4 Dec 31, 2024−20.3%

Inventory

ItemLatestA year beforeChange
Inventory, total$3.5M4 Dec 31, 2025$3.5M4 Dec 31, 2024−1.0%
Finished goods$3.5M4 Dec 31, 2025$3.5M4 Dec 31, 2024−1.0%

Properties, in its own words

We believe our existing facilities meet our current needs. We will need additional office space or facilities in the future as we continue to build our development, commercial and support teams. We believe we can find suitable additional space in the future on commercially reasonable terms.

The following table summarizes our properties as of December 31, 2025

The rest of Item 2

Location · End of the Term · Type · Own/Lease · Square Feet

Mountain Top, PA (held for sale) (a) · N/A · Office/Warehouse · Own · 200,000

Broadview, IL · N/A · Office/Warehouse · Own · 28,711

Denver, CO · August 31, 2027 · Office/Warehouse · Lease · 20,000

(a) · This property is encumbered under the terms of the Maple Mark Term Loan 3 and was sold on March 6, 2026.

Item 2 of the 10-K filed Mar 31, 2026.3

Leadership

Who has led INNOVATIVE FOOD HOLDINGS INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Samuel Klepfish2011–2023
  2. Gary Schubert2026
  3. Argie Liarakos2026–now

President

  1. Justin Jeffrey Wiernasz2011–2019

Chief financial officer

  1. Richard Tang2023
  2. Gary Schubert2024–2026
  3. Erik John Saterbo2026–now

Chief operating officer

  1. Brady Smallwood2023–now
201520202025
Board members and other officers (11)

Former names

  • ALPHA SOLARCO INCOct 13, 1995 to Sep 28, 20052

Timeline

  1. Sep 18, 20268-K Entered a material agreement; Executive or director change29
  2. Sep 17, 2026New chief executive Argie Liarakos becomes CEO13
  3. Jun 11, 20268-K Other events30
  4. Mar 9, 20268-K Completed an acquisition or sale31
  5. Jan 14, 2026New chief executive Gary Schubert becomes CEO12
  6. Jan 7, 20268-K Entered a material agreement; Executive or director change; Other events32
  7. Nov 14, 20258-K Entered a material agreement33
  8. Oct 9, 20258-K Entered a material agreement; Executive or director change34
  9. Oct 3, 20258-K Entered a material agreement35
  10. Sep 23, 20258-K Change of auditor36
  11. Sep 16, 20258-K Entered a material agreement37
  12. Aug 1, 20258-K Entered a material agreement; Other events38
  13. May 29, 20258-K Executive or director change; Shareholder vote39
  14. May 21, 20258-K Executive or director change40
  15. May 25, 2011New chief executive Samuel Klepfish becomes CEO14

Calendar

When it reported results

  1. Mar 11, 2025Reported quarterly or annual results41

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

166 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 47 major events, 58 insider forms, 25 large holders, 16 other. The latest 20:

  1. Sep 22, 20264 EDGAR
  2. Sep 22, 20263 EDGAR
  3. Sep 18, 20268-K EDGAR
  4. Sep 17, 20264 EDGAR
  5. Sep 17, 20264 EDGAR
  6. Sep 11, 2026SCHEDULE 13G/A EDGAR
  7. Aug 18, 20264 OWNERSHIP DOCUMENT EDGAR
  8. Aug 14, 202610-Q EDGAR
  9. Jul 14, 2026SCHEDULE 13G/A EDGAR
  10. Jul 10, 2026SCHEDULE 13G/A EDGAR
  11. Jul 10, 2026SCHEDULE 13G/A EDGAR
  12. Jun 11, 20268-K EDGAR
  13. May 20, 202610-Q EDGAR
  14. May 15, 2026NT 10-Q EDGAR
  15. Apr 7, 2026DEFR14A EDGAR
  16. Apr 6, 2026DEFA14A EDGAR
  17. Apr 6, 2026DEF 14A EDGAR
  18. Mar 31, 202610-K EDGAR
  19. Mar 9, 20268-K EDGAR
  20. Feb 11, 20263/A EDGAR

The 166 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

48 open-market trades by officers, directors and large owners since October 2021: 26 buys and 22 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jan 21, 2026Bennett Robert WilliamSale26,000$0.43$11.2KForm 4
Jan 20, 2026Bennett Robert WilliamSale2,600$0.43$1.1KForm 4
Jan 16, 2026Bennett Robert WilliamSale41,910$0.43$18.0KForm 4
Jan 15, 2026Bennett Robert WilliamSale28,900$0.46$13.3KForm 4
Jan 14, 2026Bennett Robert WilliamSale3,130$0.43$1.3KForm 4
Jan 13, 2026Bennett Robert WilliamSale105,000$0.44$46.5KForm 4
Jan 12, 2026Bennett Robert WilliamSale40,000$0.41$16.4KForm 4
Jan 9, 2026Bennett Robert WilliamSale89,567$0.39$34.9KForm 4
Jan 8, 2026Bennett Robert WilliamSale277,333$0.40$110.5KForm 4
Jan 6, 2026Bennett Robert WilliamSale1,500,000$0.30$450.0KForm 4
Jan 6, 2026Schubert GaryChief Executive OfficerBuy166,666$0.30$50.0KForm 4
Jan 6, 2026Smith Denver JohnsonDirectorBuy505,555$0.30$151.7KForm 4
Jan 6, 2026Schmulen MarkDirectorBuy288,890$0.30$86.7KForm 4
Jan 6, 2026JCP Investment Management, LLC10% ownerBuy505,555$0.30$151.7KForm 4
Mar 13, 2025klepfish samuelDirectorSale100,000$1.85$185.0KForm 4
Dec 9, 2024JCP Investment Partners, LP10% ownerBuy156,250$1.60$250.0KForm 4
Dec 5, 2024Smith Denver JohnsonDirectorBuy31,250$1.60$50.0KForm 4
Dec 4, 2024Gramm JeffersonDirectorBuy1,250,000$1.60$2.0MForm 4
Nov 21, 2024klepfish samuelDirectorSale6,134$1.63$10.0KForm 4
Nov 20, 2024klepfish samuelDirectorSale127,436$1.60$203.9KForm 4

All 48 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Robert W. BennettFormer CEO$485.5K$748.9K48
2025Brady L. SmallwoodFormer COO41$318.0K$442.3K48
2025Gary SchubertCEO and Former CFO47$288.2K$377.4K48
2024Robert W. BennettFormer CEO$463.2K$732.8K48
2024Gary SchubertCEO and Former CFO47$278.9K$647.0K48
2024Brady L. SmallwoodFormer COO41$308.8K$439.0K48

SEC filer profile

How INNOVATIVE FOOD HOLDINGS INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARINNOVATIVE FOOD HOLDINGS INC1
  • CIK0000312257
  • Employer ID (EIN)20-11677613
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company3
  • Incorporated inFlorida3
  • Fiscal year endsDecember 311
  • Industry code (SIC)5141 Wholesale-Groceries, General Line1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business address2528 S 27Th Ave, Broadview, IL 601551
  • Phone239-596-02041
  • Shares outstanding54,649,479 as of Aug 12, 202611
  • Public float$32.7M as of Jun 30, 20253
  • AuditorCBIZ CPAs P.C., Chicago, Illinois PCAOB ID 199; no auditor attestation of internal control over financial reporting3
  • On EDGAR sinceOct 5, 19951
  • Filings455 in all: 8-K (104), 4 (76), 10-Q (57), SC 13D/A (34), 10-K (18), 3 (17), NT 10-Q (15), SC 13G/A (15)1
    All 43 form types

    10QSB (14), 8-K/A (9), DEF 14A (9), CORRESP (7), UPLOAD (7), SC 13G (6), SCHEDULE 13G/A (6), 10-Q/A (5), 10KSB (5), 10QSB/A (5), NT 10-K (5), PRE 14A (5), 10-K/A (3), 5 (3), SC 13D (3), 424B3 (2), ARS (2), DEFA14A (2), RW (2), S-1/A (2), S-8 (2), SCHEDULE 13G (2), 10KSB/A (1), 15-12G (1), 15-12G/A (1), 3/A (1), DEFR14A (1), EFFECT (1), NT 10-Q/A (1), NT 11-K (1), REGDEX (1), S-1 (1), S-3 (1), SB-2 (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (10-K) Mar 31, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Apr 6, 2026
    Latest 8-K (8-K) Sep 18, 2026

Risk factors and legal proceedings

The risks INNOVATIVE FOOD HOLDINGS INC names in Item 1A of its 10-K filed Mar 31, 2026: 32 risks under these headings, as written.3

  • Risks Relating to Our Business and Industry
  • We have a history of losses requiring us to seek additional sources of capital.
  • We rely on a few key customers for most of our revenue and if we were to lose one or more of those clients and be unable to generate new sales to offset such loss, we may be forced to cease or curtail our operations.
  • A variety of factors, including seasonality and the economic environment, may cause our operating results to fluctuate, leading to volatility in our stock price.
  • Computer system disruption and cyber security attacks or a data breach could damage our relationships with our customers, harm our reputation, expose us to litigation and adversely affect our business.
  • If we fail to continuously improve our website, it may not attract or retain customers.
  • Our marketing efforts to help grow our business may not be effective.
  • If we do not accurately predict customer demand for our products, we may lose customers or experience increased costs.
  • Unanticipated changes in effective tax rates or adverse outcomes resulting from examination of our income or other tax returns could adversely affect our financial condition and results of operations.
  • If we fail to attract and retain key personnel, our business and operating results may be harmed.
  • We may be unable to manage our growth or operational complexity, which could impair our ability to maintain our operations and execute our business model.
  • Our recent acquisitions, dispositions, discontinued operations, facility closures, and leadership transition may create operational disruption and uncertainty and could adversely affect our business.
The other 21 risks
  • Dispositions and discontinued operations.
  • Operational changes and facility actions.
  • The specialty food and foodservice industry is very competitive, which may result in decreased revenue for us as well as increased expenses associated with marketing our services and products.
  • We rely upon outside vendors and shippers for our specialty food products and interruption in the supply of our products or their failure to adhere to our quality standards may negatively impact our revenues.
  • If we are unable to enhance our existing products and services or develop and introduce new products and services in response to changing market demand, our results of operations could be adversely affected.
  • Any acquisitions we complete, and integrations of acquisitions we have completed, could result in difficulties in successfully managing our business and could harm our financial condition and results of operations.
  • Failure to establish and maintain effective internal controls in accordance with Section 404 of the Sarbanes-Oxley Act could have a material adverse effect on our business and stock price.
  • If we are unable to effectively manage our IT dependent business our reputation and operating results may be harmed.
  • We may be exposed to risks and costs associated with credit card fraud and identity theft that could cause us to incur unexpected expenses and loss of revenue.
  • Earthquakes, inclement weather or other events out of our control may damage or limit production from our facilities and our ability to timely deliver products thereby adversely affecting our results of operations.
  • Declines in general economic conditions and the resulting impact on consumer confidence and consumer spending could adversely impact our results of operations.
  • We may be subject to legal proceedings that could be time consuming, result in costly litigation, require significant amounts of management time and result in the diversion of significant operational resources.
  • We are a smaller reporting company, and we cannot be certain if the reduced reporting requirements applicable to smaller reporting companies will make our common stock less attractive to investors.
  • We rely on trademarks, trade secrets, and other forms of intellectual property protections, however, these protections may not be adequate.
  • Risks Relating to Our Indebtedness
  • The loss of availability of our bank loans could adversely impact our business and financial condition.
  • Our ability to generate sufficient cash to service our indebtedness depends on many factors, some of which are not within our control.
  • Despite our level of indebtedness, we and our subsidiaries will still be able to incur significant additional amounts of debt, which could further exacerbate the risks associated with our level of indebtedness.
  • The agreements governing our outstanding indebtedness contain restrictions that limit our flexibility in operating our business.
  • Risk Relating to Our Securities
  • Since we do not intend to pay any cash dividends on our shares of common stock, our stockholders will not be able to receive a return on their shares unless they sell them.
  • Our common stock is subject to the “penny stock” rules of the Securities and Exchange Commission (the “SEC”) and the trading market in our securities is limited, which makes transactions in our stock cumbersome and may reduce the value of an investment in our stock.
  • The market price of our common stock has been and will likely continue to be volatile, and you could lose all or part of your investment.

Legal proceedings

From time to time, the Company has become and may become involved in certain lawsuits and legal proceedings which arise in the ordinary course of business, or as the result of current or previous investments, or current or previous subsidiaries, or current or previous employees, or current or previous directors, or as a result of acquisitions and dispositions or other corporate activities. The Company intends to vigorously defend its positions. However, litigation is subject to inherent uncertainties, and an adverse result in these or other matters may arise from time to time that may harm our financial position or our business, and the outcome of these matters cannot be ultimately predicted.

To the knowledge of our management team, except as set forth below, there is no material litigation, arbitration or governmental proceeding currently pending against us or any members of our management team in their capacity as such.

The opening of Item 3, Legal Proceedings.3

Sources

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