is active
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
The hard part of UOIP is that there is no business. The entire value of this stock is in trading the fluctuations because in the end there is no possibility of this being a long term business. Many posts seem to imply that shareholders will receive some cash based on the value of the settlement, but that is probably a pipe dream. This seems to be a trading and timing play against a settlement that may or may not be favorable to UOIP. We're looking for 7's on the crap table with odds worse than Vegas.
Settling these lawsuits will provide what is left of UOIP the ability to pay off the debt accumulated during the failed attempt to develop a viable business. The shareholders will get nothing, and there is no plan for this company to resurrect itself as a going concern. It has no future - only the remnants of a failed past. It is doomed to become a "shell company" with a stock ticker symbol and no business.
I also looked him up. He serves as "District Coordinator" for the Newman International Academy in Cedar Hill, Texas. He is also associated with Montgomery Goodwin Investments, LLC and Highnote Ventures. I could fine no recent documentation of any UOIP activity. It appears the recent trading activity is day traders looking to bottom fish for a couple hundred bucks a day by hyping a dead horse.
Does anyone have any real info on the company. The filings seem out of date, the websites no longer exist, and the last vestige of leadership seems to be Rob Howe. He is now listed as CEO of the company which has operations in Kansas City, an address in Fairfax, Virginia, and Howe is serving as the District Coordinator for Newman International Academy and living in Cedar, Texas. And I can't even get anyone to answer the phone at Newman Academy, though it is apparently a real school.
Is UOIP really paying Howe $127,000 and Sondee $147,000 a year? They could get a couple of high school interns to do as well as these two are doing managing the company, and have them do the work part time!!
Sure, the shell is worth something, but not to shareholders. Its value it to an entity that can use it to create a situation where it can be used to garner financing, issue more shares, and squeeze a few more dollars from a dead horse. Shareholders will continue to be swept aside as pawns to the manipulators who exploit the greater fool adage.
Did you look at the terms of the $60,000 loan? It works out to over 64% interest rate!! An analysis of speedier internet worldwide and the Dell purchase of EMC is like saying that worldwide wheat consumption is up and Safeway purchased Kroger, therefor the mom and pop corner store will get rich selling more Wheaties.
That report is a quarterly statement from Akami regarding the "Global" increase of internet speed. They observe worldwide trends and report them. It has virtually nothing to do with UOIP. Nice try, though. UOIP has nothing to report because they have done nothing but tread water with refinancing their debt in a desperate attempt to keep the lights on. They have two main employees: a CEO and a part time bookkeeper.
This is a shell of a company. They had a product that could not gain traction, a business plan that didn't work, and leadership that did not understand what it takes to progress from a small business (Inline) to a viable company with a nationwide presence. They did not have the resources, the connections, or the product that would succeed in this competitive business. Now, we have a company that is little more than a storefront operation without the resources to expand, and a product that can be easily duplicated by any competent 12 year old. The only thing this stock is worth is to balance a capital gain at tax time.
Agreed. Someone even bought 28 shares this morning.
There is no long term plan for this company. It went from being a reseller to a manufacturer to a merger with a very minor player in Kansas City. I have been watching this long enough to remember getting Christmas cards from the company when the founder, John Signorello (who is now deceased) tried to go from being a lounge singer to a captain of industry. He was so naïve that he announced a 2 for 1 split when the share price was 4 cents. The board quickly stopped that fiasco. John Chen was invited to join the team but bailed out when he first visited the "operation" in a warehouse space they rented for $5000 a month. They couldn't gain traction on the manufacturing line, and completed the merger with CTC NAP apparently to keep the company on the books and allow the shares to continue trading while insiders could make money on the dilution. I doubt they have any employees on the what remains of the Iceweb side of the company. The only reason to follow this "company" is if you have shares you can't sell and you hope for a miracle.
The only reason for the reverse split and increased shares is to allow the majority holder to make money by selling shares to suckers and for what is left of the "company" to continue the illusion that they actually have a viable business. If they were really selling their products they would be letting the world know and the share price would increase. The last year has been a circus of smoke and mirrors.
Agreed. It appears that the remains of the company are being used to make it look like a viable business. The CTC NAP part has an established clientele, but Graeme Gibson always defers inquiries to "the guys at Iceweb". The name change and reverse split show that there is some movement, but it is hard to tell whether shareholders will benefit. Good luck with your soon to be 125,000 shares.
It means some knucklehead put in a buy order at MARKET, and spent all of $450. It is a rare day lately when the stock trades over $1,000 worth of shares in a single day. Hardly a vote of confidence on the "company."
OTC is a rigged game. There are plenty of folks looking for tax write-offs from the sale of IWEB shares. There are brokers who will accommodate the $500 purchase of 5 million shares to give their clients a $15000 write-off. That's where the daily early buys/sells are coming from. The Wall Street traders and MM's will always find a way to manipulate buys and sells for their preferred traders. That doesn't include anyone on this board.
I've been following IWEB since Signarello was CEO and they sent the investors Christmas cards. They've had plenty of time to figure it out.
It's interesting that they even took the time and expense to publish a 10K. It was rife with cautions and warnings about the ability of the company to continue, but that is fairly normal for struggling penny stock companies. Either someone still has hopes for IWEB, or they are just dodging lawyers by complying with reporting requirements. They've gone full circle from a reseller to a manufacturer and back to a reseller. There's just no real money or growth in the reseller business.
Go back to sleep
I visited the Sterling office a couple of years ago. I talked to Mary Lucky, who gave me a tour of the place. Steve Toolman had just been hired as the head of sales (that didn't last long) and was there in a meeting with the other division heads. They had a room where storage devices were being assembled and a storage area about the size of a three car garage in the rear with parts for other computers. Mark said they got a deal on the place and were renting it for $5000 a month. By that time, the other locations you mentioned had been vacated. They had focused their business on the manufacture and sale of storage devices after purchasing a small (but at the time, successful) company named Inline. Since the merger with CTC, it seems that any vestige of Iceweb is now in Kansas City, but there has been no clarity on the relationship of the two entities, and Graeme Green (the head of CTC NAP) refuses to discuss the issue. It seems they struck a deal with the devil when they allowed Carter to buy the company and dump endless shares on the market. He recouped his investment by driving the price to one hundredth of a cent and is looking for his next helpless victim. Meanwhile, we have no idea what the final disposition of Iceweb will be, but it is very unlikely the shareholders will receive anything but a lesson in dealing with penny stocks.
It looks like Carter has squeezed every dime out of the company that he can, dumping his hundreds of million shares on the market over the past months. All that remains is the connection with CTC, which is a viable - if tiny - business. There were a lot of moving parts to that merger, none of which were made public, so we have no idea what kind of company Iceweb could be. It appears that is no longer conducting any business, and all its employees are gone. If someone has been to their offices or talked to an employee, please share it with us. Otherwise, I believe Iceweb exists only as distant memory.
The report is late because they are searching the cushions of their sofas for enough pocket change to buy nails for the ICEWEB coffin.
Contractor?? ICEWEB no longer exists!!!
I remain convinced that Carter bought controlling interest in the company so he can continue to dump shares, making $20,000/day (less, actually as the price continues to drop) until there are no buyers. I know you believe he has the $52 million in debt to deal with, but that is easily disposed of by a bankruptcy filing. Since there is no viable business here, it is just a matter of time until Iceweb is a sad and distant memory. CTC NAP can be spun off if necessary so they are insulated from the inevitable. The Iceweb business plan just didn't work - except for the well-salaried Lucky guy.
Thanks - I saw all that also. But your point that he assumed over $50 million in debt makes the transaction even more curious. Since he can't possibly pay it, he must have plans to discharge it in some manner - the most obvious choice is bankruptcy followed by reorganization. That usually leaves the shareholders out of luck. The patents are of marginal use given their shelf life and the rapid advances of technology; and at any rate, the lawyers will get the bulk of any settlement. No matter how I look at this, shareholders are going to be left in the cold.
It seems that a new actor with a lot of shares is dumping them on the market. The most logical source is Mr Carter. He paid $116,085.87 to obtain over 4 billion shares of IWEB.
In consideration for four hundred thousand (400,000) shares of Series AA Preferred Stock, UnifiedOnline! (i) paid $16,753.80 in satisfaction of a contractual health insurance obligation of Iceweb, (ii) caused $99,332.87 to be paid on behalf of Iceweb to various vendors, and (iii) obtained the agreement of a certain lessor to temporarily forbear exercising non-payment default remedies. The funds were provided to UnifiedOnline! by UO! IP NC, LLC, a North Carolina limited liability company. UO! IP NC, LLC is ultimately owned and controlled by William R. Carter, Jr.
At the rate he is (apparently) dumping them, he is pulling in about $25,000 a trading day, which will pay off his purchase price very quickly. (20 million shares at .0017 = $34,000) The questions are: How long will he continue? How low will he drive the price down? And what are his intentions for the "company"?
I believe he is an opportunist who has no interest in Iceweb and after wringing out a profit, he will leave the scene with shareholders holding valueless stock and the "company" with no value other than as a delisted shell.
They hired her with the TITLE of CFO so that Iceweb would still look like, and perhaps function as, a real company. They don't need a full time CFO because they have precious little financial activity beyond preparing quarterly and annual reports - all so they can look like and act like a publicly traded company.
Someone has plans to squeeze some money out of Iceweb, but you can be sure the retail investors will not benefit. Yesterday's trading was outsiders pumping and dumping shares for some fractional daily gains. A new part time CFO can't fix a failed business plan.
To your question "why appoint Sondee" I propose that since Iceweb has virtually no revenue, they didn't need to keep paying Lucky $250,000+ a year. The current revenue comes from CTC NAP, which has established accountants. A part time "CFO" is all Iceweb needs, and I doubt she will be anything more that an accountant.
How are you sure the new "part time" CFO will make a big difference? It seems they let Lucky go in order to reduce his generous salary and pay the new CFO based on billable hours, not company performance.
I hope you're right. I've been holding (perhaps irrationally) for a long time - since the days of Signorello and the Christmas Cards.
I've read many quarterly reports and haven't found it to be "standard" on any of them. In addition, just because a company has recurring revenue, there is no guarantee the flow will continue or that it will increase. And in the case of IWEB the flow is so small that it would take years to pay down its current debt even with an unlikely doubling or trippling of its revenue. Carter is a bankruptcy expert. Look for that in the near future - and don't expect the current shareholders will be treated kindly. No more IWEB Christmas cards!
What about American Capital Ventures, who was hired this year for investor relations? Absolute silence from these guys.
Great research. It appears the delay in completing the merger was somehow associated with the Gibson/Howe/Carter connection. The questions now are: Do they plan to monetize the Iceweb/CTC business by making it a functioning company or are they using Carter's predatory law suit background to squeeze money from someone? And, will they do it in a way they benefits shareholders, or will they go bankrupt, take it private, and keep the proceeds for themselves?
Has anyone read the statement of ownership dated April 2014?Iceweb authorized 400,000 shares of Preferred Series AA shares, convertible to so many common shares that UnifiedOnline! will own 90% of the common shares of Iceweb. The sole owner of UnifiedOnline! is William Carter, whose business is the "monetization of IP business". The statement says that the reason for the purchase of these preferred shares is to convert them into common shares and "exercise control over Iceweb". Recent board discussion has focused on Howe and some marginal increase in CTC revenue, but this transaction will so change the face of Iceweb, and so dilute the already value of existing shares that I can't figure out what is happening to this operation. Does anyone have any insight?
The likelihood of current shareholders making money with Iceweb is about the same as being struck by lightning while being mauled simultaneously by a polar bear and grizzly bear in Red Square at a square dance being called by Putin with Obama as the lead fiddler.
You are partially correct. Management needs shares to keep maneuvering the company. However, the shareholders are valuable only to the extent they continue to trade or hold shares. Existing shareholders are a disposable commodity which can be replaced with new shareholders when they decide to go bankrupt, restructure, and attract new investors. Iceweb's primary value today is that they are a public company with a connection to CTC with a revenue stream. The current maneuvering (better described as manipulation) will benefit only the savvy bottom feeders, not the existing shareholders.
Carter created this company for the sole purpose of controlling Iceweb with 90% of the outstanding shares. The transaction will result in over 4 billion shares outstanding. But to what end? Why take control of a defunct company that is little more than a "shell company" (aside from the meager assets of CTC NAP). Something is in the works, but it is unlikely existing shareholders will like the final solution.
I think it's over for Iceweb. Another good idea that didn't work. Inline is gone, and this company is history. I'm writing this off on my 2014 return.
With Abrams on the board we will see some movement, but it will be straight south for shareholders.
Is Marc Abrams the same person with Wilkie Farr who specializes in bankruptcies and restructuring?
Iceweb now has a relationship with Asher Enterprises. They apparently are grasping for funds to keep operating while they execute an as yet unstated business plan. More dilution is on the way as a result of this arrangement, but the share price is rising slightly today. I guess we just have to wait and see what Iceweb is becoming and who is pulling the strings. I don't know much about Asher, but some posts on I-Hub are not very complimentary.