InterCloud Systems Inc. (ICLD)

[12ka]

Mr. Mark Munro, our chairman and chief executive officer, was a member of the board of VaultLogix from March 2004 until
February 2008, and was one of VaultLogix’s largest investors until it was sold in February 2008. All outstanding debt or equity obligations
owed by Vaultlogix to Mr. Munro were paid in December 2009. Since December 2009, Mr. Munro has had no financial or other pecuniary
interest in Vaultlogix, DPS or USDA.
Mr. Daniel Sullivan, our chief financial officer, previously served as the chief financial officer of VaultLogix from January 2003 to
July 2010. Mr. Sullivan also currently serves as a director of Tier 1 and is a minority shareholder of Tier 1. Tier 1 owns 1% of the
membership interests of Vaultlogix.
This is from the latest ICLD SEC filling regarding VaultLogix acquisition, reported on website.
What I don't like here is another $11.5 million in shares of our common stock at a price of $16.50 per share for paying this acquisition

Munro got his buddies at VL hooked up at your expense...

best revenue producing subsidy...gggoooonnnneeeee