Icoa Inc (ICOA)

[Vulcan]

Ok just spoke to the CEO of ICOA. George S. He was very polite and asked my name and wrote it down. This is the jist of our conversation.

I said why no news lately. Why has the company been so quiet.
They have been working on building the business quietly in a down economy. That growth hasn't been as high as it was in the better years 2003-2007.

I asked him about the share structure.
He said the RS was necessary resturcture debt. He wouldn't go into anymore detail about the share structure. He said they are not diluting and are generating revenue sufficient to cover all current operating expenses. He said it wasn't necessary to dilute that they had enough revenue from the ongoing operations.

I asked him about the current business environment.

He said that the company was expanding thier WI-Fi contracts with several national companies...He said "national companies that have multiple stores." He did say that the market is getting more and more competitive as bigger companies are buying smaller companies who are engaged in the same business. They are continuing to build thier business according to the same model that has gotten them this far.

I asked him are they being pursued by a larger company to be bought out?

He said the last three years have been difficult and even though his company is growing that the growth rate has been slower then they had projected due to the economy. That he could not talk about the future plans of the company as he did not want to be in violation with the SEC and thier current non reporting status. He did go on to say that the reason they went non reporting is that it costs a lot less to operate the company as a non reporting entity.

He said that in a few weeks that he would be releasing news about the company. But he would not illiterate on what kind of news he was working on.

I asked him again...does the company plan on diluting and selling shares into the market.

He said no we have never been that kind of company and that the current SS was going to stay the same so that they could be attractive to investors.

I said individual investors and possibly another company?
No answer, lol
I said so does that mean your company is going to be bought out?

He said you know I can't comment on anything like that. I will be releasing information in a few weeks you will just have to wait for the update.

That was basically the call.