ICOP Digital Inc. (fka ICOPQ)

[Renee]

ICOPQ: Bankruptcy PLAN effective. All shares cancelled.

http://www.otcbb.com/asp/dailylist_detail.asp?d=08/02/2012&mkt_ctg=NON-OTCBB

[the cork]

Weird! Your January post suddenly showed up in my mailbox so I responded before I looked at the date or anything.

Good luck JJ, feel free to drop in on my mining board at the bottom of the post.

[JJSeabrook]

No prob. I was just responding to your post. I got an email that you had replied to my post I made back in January. LOL

JJ

[the cork]

Oh OK I couldn't figure out where the message I replyied to came from.

Don't want to piss anybody off, I just replied to the message.

How did this end up in my mailbox?

[JJSeabrook]

Never had any of it. Just saw the filing and posted it on this board FWIW.

Best regards,

JJ

[the cork]

Be careful JJ. Looks to me like they went private. This looks like one of those dormant turd Q's that some IHUBBers like to front load. They create artificial excitement with spectacular initial percentage gains on limited volume. Anybody else that suckers for that junk gets left holding the bag.

It's pretty obvious:

About Us
ICOP is now a Safety Vision Company. Safety Vision, LLC, is headquartered in Houston, TX and ICOP maintains a brach office in Lenexa, KS......

Q Can you assure me I should continue a relationship with ICOP?
A Safety Vision is a rock-solid company and is 100% committed to expanding its existing product line by offering Tier 1 ICOP Solutions for Law Enforcement. We will do what is necessary to gain your confidence. For nearly two decades, Safety Vision, a privately owned Houston-headquartered firm, has been a pioneer in deploying mobile video and fleet automation solutions for law enforcement, mass transit, pupil transportation, commercial trucking, and other mobile fleets. (http://www.safetyvision.com/)

http://www.icop.com/vop.htm

Icop, Video-System Maker for Police, Files to Sell

Icop Digital Inc., the developer of mobile video systems for law enforcement, filed a Chapter 11 petition on Jan. 21 in Kansas City, Kansas, to sell the assets.

The petition listed assets of $1.67 million and debt of $2.74 million. The balance sheet as of Sept. 30 had assets on the books for $6.7 million and total liabilities of $4.3 million.

The petition says there is $635,000 in secured debt.

The proposed buyer of the business, Safety Vision LLC, is offering to provide $500,000 in financing for the Chapter 11 effort. Icop is based in Lenexa, Kansas.

Unless there is a higher offer at auction, Safety Vision will pay $800,000 in cash plus 50 percent of accounts receivable.

The closing high for Icop’s stock was $90.80 on May 11, 2007. The closing price was 20 cents in over-the-counter trading on Jan. 21.

The case is In re Icop Digital Inc., 11-20140, U.S. Bankruptcy Court, District of Kansas (Kansas City).

http://www.bloomberg.com/news/2011-01-24/innkeepers-fgic-gulfstream-nec-charlie-brown-s-bankruptcy.html

[shankapotamus]

A little volume here. This one has a nice share structure. On watch.

[conix]

Anyone want to be moderator? LOL

[JJSeabrook]

Bankruptcy filed: 13:15 1/26/2011 ICOP ICOPQ ICOP Digital, Inc. Common Stock Bankruptcy filed on 1/21/11 **

http://otcbb.com/asp/dailylist_detail.asp?d=01/25/2011&mkt_ctg=ALL

JJ

[viperade]

I think the ice just broke..... slow and painful sold for 170 loss oh well im out...

[conix]

Any thinner and they would be swimming

[Hammer1]

ICOP on WATCH.......just got to see if they can keep THE DOORS OPEN. They made lots of CUTS this year and they are on THIN ICE. Hammer

[conix]

ICOP is not trading on the Pinks at .32

[conix]

ICOP Digital’s headaches mount: Nasdaq delists stock, partner demands payment

Kansas City Business Journal - by David Twiddy , Staff Writer

Date: Friday, January 14, 2011, 12:02pm CST Related:
Technology


ICOP Digital Inc. shares no longer are trading on the Nasdaq stock market, and one of its business partners is demanding thousands of dollars from the dormant company.

The Lenexa-based maker of video surveillance equipment for law enforcement and other security applications announced last month that it had laid off its 50-plus employees and suspended operations as executives sought to restructure ICOP’s finances and secure new capital financing.

On Jan. 7, ICOP disclosed that it had received a letter from Nasdaq officials warning that because of its situation, the company’s stock was on track to be delisted. The company had the option of appealing the decision, but apparently no hearing was requested, and the delisting occurred before trading Thursday.

The company now is trading on the highly speculative “over-the-counter” market, where its shares were worth a quarter each in Friday morning trading.

Also on Thursday, ICOP disclosed in a securities filing that FCC LLC, also called First Growth Capital, had sent a letter declaring ICOP in default of a 2008 agreement under which First Growth would buy the company’s accounts receivable, advancing ICOP the cash. In particular, First Growth Capital claims ICOP is in default of solvency, reporting, receivable quality and net-worth covenants.

The filing said First Growth could demand immediate repayment of all obligations and repossess collateral, which included the company’s commercial accounts receivable. As of Jan. 7, ICOP owed First Growth as much as $202,863, and First Growth held $478,530 in ICOP receivables available for collection, the filing said.

In the filing, ICOP officials said they disagreed with First Growth.

“We do not believe we are in payment default under the purchasing agreement, nor do we concur that we are in default of a number of the covenants described in the letter,” the filing said.

Neither CEO David Owen nor other company officials returned repeated phone calls for comment.

[conix]

No trades...

[Kinzhok43]

yikes. looks like it's heading into the garbage

[conix]

Triggering Events That Accelerate or Increase a Direct Financial Obligation or Item Triggering Events that Accelerate or Increase a Direct Financial Obligation 2.04 or an Obligation under an Off-Balance Sheet Arrangement

On January 7, 2011, we received a letter from FCC, LLC dba First Growth Capital ("Purchaser") declaring us in default of the solvency, reporting, receivable quality and net worth covenants in our November 3, 2008 Purchasing Agreement with Purchaser. Purchaser has declared that an Event of Default exists under the Purchasing Agreement. We do not believe we are in payment default under the Purchasing Agreement, nor do we concur that we are in default of a number of the covenants described in the letter.

The Purchasing Agreement is secured by all of our assets, including but not limited our commercial accounts receivable (the "Collateral").

Purchaser has reserved the right to (i) declare all obligations under the Purchasing Agreement (the "Obligations") to be immediately due, payable and performable, and to enforce collection of the Obligations by repossessing the Collateral, and (ii) pursue and enforce any and all other remedies against us as permitted under the Purchasing Agreement and applicable law. The Purchasing Agreement is fully recourse to us.

David C. Owen, our Chairman and CEO, and Laura E. Owen, our President and COO, signed a Validity Guaranty of the Purchasing Agreement. Purchaser has reserved its right to exercise its remedies against Mr. and Ms. Owen under the Validity Guaranty.

As of January 7, 2011, First Growth Capital was owed less than $150,000 under the Purchasing Agreement (equals $202,863.17 when contract cancellation penalties are included) and held a total of $478,530.16 in ICOP Digital, Inc.'s receivables available for collection."

[conix]

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;


Form 8-K for ICOP DIGITAL, INC


--------------------------------------------------------------------------------

7-Jan-2011

Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard;


Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
On January 4, 2011, we received a letter from Nasdaq advising us that, pursuant to Rule 5101, the Staff is exercising its discretion to apply more stringent listing standards to us and believes that the continued listing of our stock is no longer warranted.

Nasdaq advised us that the letter is in response to our form 8-K filed on December 20, 2010, in which we reported that we do not have adequate cash to meet our payroll, and that we had laid off our entire staff and suspended operations while we seek additional financing that will enable us to resume operations or until we determine that such financing is not available.

Our executive officers and key employees remain on the job on a volunteer basis to support our customers and seek financing and/or a strategic transaction. There can be no assurance such financing or transaction will be obtained, and thus no assurance as to when, or whether, we are able to resume normal operations.

Because of this, Nasdaq has advised us that the Staff has concerns about our ability to demonstrate compliance with all the requirements for continued listing on Nasdaq, as well as the status of our ongoing operations and corporate structure.

In view of this, the Staff believes we no longer have an operating business, that purchasers of our securities do not know what our operating capacity will be in the future, and that we are consequently a "public shell" which, among other things, may be subject to market abuses or other violative conduct detrimental to the interests of the investing public. For this reason, the Staff has decided, pursuant to its discretionary authority in Nasdaq Rule 5100, to apply more stringent criteria to our Nasdaq listing, and that it has determined, based upon such criteria, that continued listing of our stock on Nasdaq is inadvisable or unwarranted in its opinion.

The Staff advised us that, unless we request a hearing on its determination by 4:00pm, Eastern Time, on January 11, 2011, trading in our common stock will be suspended at the opening of business on January 13, 2011, and a Form 25-NSE will be filed with the SEC that will remove our stock from listing and registration on Nasdaq.

In addition, as we have previously reported, the Staff notified us that, based upon our September 30, 2010 Form 10-Q, we did not comply with the $2.5 million shareholders' equity requirement in Nasdaq Rule 5550(b)(1) for continued listing on Nasdaq and were provided until January 3, 2011 to submit a plan of compliance with that requirement. As we reported, we notified Nasdaq and filed a Form 8-K on December 21, 2010, stating that we had regained compliance with that rule as the result of a litigation settlement. Nasdaq's January 4 letter advised us that our notice of compliance is currently being reviewed by Staff, but has not been reflected in any SEC filings. (This is because we are not obligated to file further financial statements until our 2010 Form 10-K.) In addition, the letter advised that, given our history of losses and "lack of ongoing operations," we lack the ability to sustain compliance with this requirement, which Nasdaq advised is a further basis upon which to delist our stock.



--------------------------------------------------------------------------------

Additionally, as we have previously reported, due to a vacancy on our Board of Directors, our Board currently has two independent directors and two members of our audit committee, which is noncompliant with Nasdaq Rule 5605. Although we have until our 2011 annual shareholders' meeting to regain compliance with this rule and, as previously reported, our Board has appointed a Special Committee of independent directors with authority over all expenditures and transactions of the Company, the Staff has advised us that if we appeal the Staff determination described in this report, we need to address these issues at the hearings.

If our stock is delisted by Nasdaq as stated in the staff determination letter, our stock will not be immediately eligible to trade on the OTC Bulletin Board or in the "Pink Sheets" unless a market maker applies to register and quote our stock in accordance with Exchange Act Rule 15c2-11.

[conix]

Coutdown to oblivion

[Hammer1]

Its on my watch here bro. GLTY. Hammer

[conix]

If they get financing or, better yet, a factoring agreement, ICOP can get moving again. There is no greater incentive than the CEO not getting paid. LOL

[Hammer1]

I have ICOP on the RADAR as the Co. owns the patents to one of the best SURVEILLANCE PLATFORMS out there. Hammer

[conix]

Some gamblers still in here...wonder if it is insiders knowing they are working on a capital raise that looks good. It is not supposed to happen--insider trading and all--but I bet it does happen all the time.

As for me, I am just an observer.

[conix]

So, the lights are going out on ICOP. What a great short.

But there was only 27,633 short as of 11/30/2010

[conix]

How do you spell--BK?

[Renee]

ICOP traded at $150.00 in 2004 according to this mornings news .

That would have been the time to sell even 1 million shares and bank it for hard times like now and to avoid fire-sale financing .

[CHA$E]

In a regulatory filing...


...the Lenexa, Kan., provider of mobile video solutions said it doesn't have enough cash to meet its year-end payroll and will lay off its entire staff and suspend operations until it finds financing.

...here comes the dilution, maybe?!?!

geeeeez

;)

[conix]

Yep---that would be bad news. And if they need more funds, it could mean more dilution. Neither prospect is positive.

It is up to them.

[THE_YAK]

You want news, here they are.


ICOP Digital suspending operations, will lay off entire staff
Company does not have adequate cash to meet December 31, 2010 payroll

[conix]

ICOP may being sold off from previous financings that are unlocked recently.

[CHA$E]

NICE...'and a release of all claims against the Company.'



It would even nicer if we knew the dates on the warrents...the boys' might want to capitalize on some of those warrents at a higher $.

added a few more...

;)

[conix]

Unregistered Sale of Equity Securities


Item 3.02. Unregistered Sales of Equity Securities

We have issued an aggregate of 600,000 shares of unregistered common stock (the "Settlement Shares") to the Financing Transaction Investors identified in our current report on Form 8-K filed on November 4, 2010.

The Settlement Shares were issued in a non-cash settlement of the Financing Transaction Litigation. The Settlement Shares were issued in exchange for the surrender of 350,000 Series 1 Warrants and a release of all claims against the Company.

The Settlement Shares were issued in reliance upon the exemption from registration provided by Section 3(a)(10) of the Securities Act. Pursuant to the 3(a)(10) exemption, the terms and conditions of the 3(a)(10) exchange were approved by the United States District Court for the Southern District of New York on December 1, 2010, after a hearing upon the fairness of the terms and conditions of the 3(a)(10) exchange. The Financing Transaction Investors participated in the hearing.

Pursuant to the 3(a)(10) exemption, the Settlement Shares may be resold without registration under the Securities Act.

[conix]

Without news, ICOP will continue down

[conix]

The first significant contract--like a small city's PD--and ICOP will breakout and hold, IMO

[CHA$E]

Interesting news has obviously caught traders attention here...

Chart looks to move...

enjoy this hold guys

;)

[conix]

Olathe Police Department Chooses ICOP Digital


LENEXA, KS--(Marketwire - 11/08/10) - ICOP Digital, Inc., (NASDAQ:ICOP), an industry-leading company engaged in advancing digital surveillance technology solutions, today announced that it has been awarded of an initial order for 16 ICOP units from the Olathe Police Department, through one of its key strategic channel partners. Olathe is the fourth largest city in the State of Kansas, located 20 miles southwest of Kansas City. The Olathe Fire Department is a long-standing customer of ICOP's.

ICOP was chosen after an extensive selection process, including a public bid, oral presentations, and a six-month trial period, during which the systems of the two vendor finalists were evaluated by the agency. The deployment includes the ICOP 20/20 VISION™ in the patrol vehicles. At the end of each shift, the officers will connect via Ethernet, to upload the recorded video to the Police Department server for storage, using ICOP's backend software. It is the intent of the agency to deploy the ICOP solution fleet-wide over the next couple of years, replacing their current in-car video systems.

"We are delighted to be of service to the Olathe Police Department, a prominent local community. It is an honor for us to be of service to both the Olathe Fire Department, and the Olathe Police Department," said Laura Owen, President and Chief Operating Officer at ICOP.

About ICOP Digital, Inc.

ICOP Digital, Inc. (NASDAQ:ICOP) is a leading provider of in-car video and mobile video solutions for Law Enforcement, Fire, EMS, Military, and Homeland Security markets worldwide. ICOP solutions help the public and private sectors mitigate risks, reduce losses, and improve security through the live streaming, capture and secure management of high quality video and audio. www.ICOP.com

[conix]

News starting to flow.

Just wish the police departments were bigger than Mayberry's

ICOP Wins Durango, Colorado

ICOP Featured in Recent Newscast


marketwire



LENEXA, KS--(Marketwire - 11/04/10) - ICOP Digital, Inc. (NASDAQ:ICOP - News), an industry-leading company engaged in advancing digital surveillance technology solutions, today announced the sale of 14 units to the Durango Police Department in Durango, Colorado. The purchase was funded using part of a $300,000 federal grant. Durango is the county seat and most populous city in La Plata County.

The agency will deploy the ICOP Model 20/20©-W system in all of their marked police cars. The agency will also use ICOP's new industry-leading wireless upload solution that was showcased at the Chiefs of Police (IACP) Conference in Orlando, Florida last week. ICOP's wireless upload of recorded video and audio files, provides a throughput up to 70 Mbps (actual), and the most secure WPA2-AES encryption, automatically resuming uploads at the exact point of any interruption in transmission.

According to a recent newscast by KOB Eyewitness News 4, in Durango, CO, Sergeant Geary Parsons stated that they had a lot of models to choose from during their search for an in-car video solution. "They're all different brands that we use in the Four Corners, but this one [ICOP] is top of the line when it comes to video cameras," said Parsons.

To see the story in its entirety and watch the associated video is located at the following link:
http://www.kob.com/article/stories/S1819955.shtml?cat=518

About ICOP Digital, Inc.

ICOP Digital, Inc. (NASDAQ:ICOP - News) is a leading provider of in-car video and mobile video solutions for Law Enforcement, Military, and Homeland Security markets worldwide. ICOP solutions help the public and private sectors mitigate risks, reduce losses, and improve security through the live streaming, capture and secure management of high quality video and audio. www.ICOP.com

[conix]

Chart on ICOP

[conix]

ICOP getting it together after that huge run--and the news keeps on coming

[Mick1]

ICOP looks to potentially to be having sales increaes.

[Mick1]

ICOP got more potentially more good news, seems to be warming up on the sales side.


http://www.marketwatch.com/story/icop-awarded-police-cooperative-contract-in-new-jersey-2010-10-07?reflink=MW_news_stmp

[Mick1]

ICOP just had good news, multiple orders.

http://www.marketwatch.com/story/icop-wins-multiple-orders-for-us-air-force-bases-2010-10-06?reflink=MW_news_stmp

[otcbloodhound]

Looks like ICOP is going to gap up today!!

[otcbloodhound]

ICOP vs. Metro Nashville Police Department

There is an ongoing dispute between ICOP and the Nashville,Tenessee police department. Nashville Police Chief of Police Steve Anderson is blaming ICOP for the deletion of 1600 recorded traffic stops, some of which happened to be dui's. Mr. Anderson's department says that a software update performed by ICOP had a code in it that caused the videos to be deleted and purged off of the system. Mr. Anderson went on to say even though it was a mistake by ICOP the error was inexcusable and that they will no longer use ICOP.

ICOP fired back with a letter to Mr. Anderson'e department denying any wrong doing. The letter says that the deleted files were caused by changes in either operating or personnel. ICOP alleges that the police department changed the settings in the system which resulted in most of the files being permanently deleted from the system.

A report on 08/25/2010 says the two parties hired Deloitte & Toiche LLP as a third party investigator for the matter. The investigation isn't expected to last more than a month which in my opinion explains today's volume spike. Who ever is at fault will have to pay the cost of retrieving the files and legal fees.

As a shareholder of ICOP I think f we win we should sue the Nashville Police Department for the bad press.

The links to the two documents are below.
ICOP's response to Nashville Police Department

Nashville Police Department's letter concerning the incident

[crapholder]

are you a pumper? suffice it to say that i'm so down on this stock i want to curl up and die.

[CHA$E]

Hey ICOP'ers, those EOD 1.50zzzz...

they were to yummy to pass up.

any outlook on calls' here...?

enjoy

;)

REMEMBER THIS: US Homeland Security Selects ICOP (8/11)

[WhisperingEye]

$2.15 needs to hold or we look for a new line..

[stockresearcher45]

Not your typical pump-and-dump

So says the number one trader on covestor.com about ICOP:

http://www.timothysykes.com/news/13433-18000-in-trading-profits-7-hot-penny-stocks-to-watch/

[Justified]

Just the fact that so many shares traded in the 2.50-3.00 dollar range leads me to believe we may see some consolidation but I don't think we'll see a major sell off. Dunno. It could be a great day. The volume early on will tell the story would be my guess.

[commn]

AH down -16%, could be a bad day tommorow..