is...retired
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.
So, leggy, did you ACTUALLY read what you linked?
InterCloud Systems, Inc. (OTC:ICLD) closed down 0 points or -8.71% at $0.03 with 18.03 mln shares exchanging hands.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th.
Do you REALLY think ICLD is disclosing a quarterly dividend? Out of its profits?
This is a perfect example of people spamming this board with obviously computer generated shit that has no meaning, but with a somewhat breathless joyous refrain about some positive news that is neither news, nor even correct.
PLEASE READ THE CRAP YOU LINK BEFORE YOU LINK IT, JUST TO ENSURE IT IS NOT A COMPUTER GENERATED JUNK SPAM WITH TERMS LIKE 0% AND MISSING NUMBERS, DATES, AND OTHER INFORMATION. This is SHIT, pure and simple, and you should not post shit to this board. Period.
Every one of us that clicks these stupid links sees almost immediately that it is junk and computer generated. If you can't tell the difference, please shut the f*ck up about these foolish links.
If you are posting allegations, you should at least post a link so we could make our own judgements about what is going on.
Your post is meaningless without the context of what is in the full disclosure. Absolute junk. Why bother smearing someone when you can't even post a link to the supposed information? You actually think anyone, that is ANYONE actually BELIEVES such an allegation without proof?
But, just to put a finer edge on it - the CEO of a company has about 4 months out of the year that he is open to trade in his own company. Why would he not trade in other companies which he believes will do well? Should he not also want to improve his wealth by investing in companies he believes in?
Inuendo is just that - a poor substitute for facts.
The fundamental reasons many of us bought ICLD and held long have not changed. Treating no news as bad news will cause you to lose money. News will happen when it happens, and not when it's half-baked.
Companies don't turn on a dime, and digging out of debt requires spending revenue on clearing debt. We all know this is a good company with bad debt, and that they are committed to eliminating the bad debt. It does not happen overnight. It is a process.
Patience will win out, as it does with most stocks in which people have done sufficient DD to understand the company's situation.
Longs will look back at this period and smile when the stock recovers to where it should be, which is also where it was before the debt problems tanked it. It is a matter of time.
I'm fine with the stock, and not surprised where it is with lack of PR or news of new deals. Thing is they are working to eradicate debt, which simply isn't news until it's done. You do have to be patient while the wheels turn.
I've worked at a public company and know that official news is about what has been accomplished, not what is being planned.
Sold a few to get into a.m.l.h, but will hang onto over 15M ICLD. My ICLD is still green for now - barely.
Everyone trades on the same hours. 0630 to 1300 on the left coast.
Actually, that is the payment to Alt in an all-stock purchase. It will be followed by a 1 for 10 reverse split. So, there will be 1/10 as many shares in the OS but each share will be worth 10X more. There is a mandatory stock price they have to reach to remain on the NYSE through this merger.
The new company will be ALT and PIP will be gone. Your takeaway is that you will own 1/10 as many shares as now, but they will be worth more and will become ALT shares.
Insider trading: Financial insiders typically can only trade during the month following the earnings releases
How do companies protect themselves against insider trading? Typically, anyone who could have access to financial data ahead of public disclosures have limited trading windows after results are announced to trade the stock. Also, there may be restrictions on how they can trade in that trading window. For example, suppose a company releases quarterly earnings on April 15, July 15, October 15, and January 15. Executives and people with access to financial data may only be able to trade the stock in the month following release of financial data (e.g., May 1-31, August 1-31, November 1-30, and February 1-28).
Also, since an executive selling a large amount of stock could be viewed as bad and drive the value down, some companies also require key executives to give 30 days notice of their plans to buy or sell stock. Again, it is to prevent insider trading. If you are able to read that the CEO is planning to sell $1B of stock in a month, you may take that as a sign that the stock price is likely to fall and you can sell now. If the stock price does decline, the CEO sells at that lower price in a month.
It is not that the CEO of a public company is not allowed to buy or sell his stock before a positive earnings result, but generally done to avoid being charged with insider trading. If the CEO buys and reports are positive and the price goes up, does anyone really believe that was not done based on knowing that the report would beat expectations and be viewed as very positive?
One other factor. If key officers can buy-and-sell too close to release of financial information, they certainly can do short-term actions to affect the price of the stock. They would gain, and being a zero-sum game, investors would lose. And confidence in investing in stock would plummet affecting the entire market.
I don't know what others are going to do. I'll still be holding.
Uh, it has already been announced. Twice.
Something better:
Wait for ICLD to announce news in their next press release and see what the stock does.
Everything else is simply speculation and wild ass guesses.
The RS is for one, and only one reason: To reduce the OS so that convertible debt can be converted. Right now, they are illegal - they can't allow debt holders to convert debt to shares because they don't have any shares left. The OS is maxed out.
This isn't brain surgery - it is STATED clearly in both the latest 8K and 10K. You folks that think it has something to do with share price are simply dreaming - it has nothing whatsoever to do with share price, except that the price will be multiplied by whatever ratio they use.
Totally incorrect. I doubt they have bought even one share back. Say whatever you want, though.
The 10K in earlier March has 488M shares outstanding. That is what it is now. That is what it has been all month.
ICLD is not in the business of trying to pump up their share price through dubious, unannounced tactics. They are implementing business plans, and the stock will react accordingly, with REAL actions.
ICLD would not buy its own shares simply because they would have to give them up for convertible debt anyway. Waste of time, effort. Spinning wheels that go nowhere.
Anyone know about the new S3 that authorizes more shares worth up to $100,000,000?
PIP S3
Usually, an A/S is defined by total share count, but this just says an indeterminate number of shares with that value. It is called a 'shelf' offering. Definition: Shelf Offering Definition
Is this just part of the machinations to accomplish the merger? I know there is a reverse split planned, but this is the opposite, and happens afterwards.
Not quite sure what this one means, but would like to know. I sold all my PIP a while back, but might buy back in if it looks attractive.
Good job!
Stick it out, and look back a year from now. Try to make 10 X your investment in a bank in one year. Try to make .1% in a bank!
You just need to understand that there are negative times and positive times, and hold when negative, and sell a little when it's positive until you have your investment back. Buy when it's down, sell when it's up - or go long, like me, and just add and hold until your plan plays out. I've run out of cash, so now I'm just holding.
Right now, I've over 21M shares counting my GF's shares and mine. We are both still in the green, but not nearly as much as a week ago. But, that's fine - the company fundamentals have not changed, no bad news has happened, and we know they are turning the company around, which doesn't happen in a week.
Before long, we will learn what they've done to turn the company around in the 1st quarter. I expect it to be an extremely good report, simply because they are on a plan and previous reports indicate they are executing on their plan.
ICLD insiders own this stock too, and at much higher valuations than we are at. THEY want their money back too!! And to make a profit. If they ever regain their investment in their own company, I will make millions.
I'm fine with the current action. I'd buy more if I wasn't out of cash. But even at this price, I'd be averaging up.
So, I'll be waiting patiently for the news that is sure to come, and will ride the tide when the stock takes off.
ICLD hit $1 twice last year, and is only down because of the conversions in their debt. Now, most of the convertible debt is gone, and the rest is secured debt, which is also being reduced.
Holding right now is important to me, because it is the lowest of the low periods while they get the restructuring done. Once they show that they have turned things around, this stock will rise sharply.
You should look up the definition of dilution. An R/S is not dilution. No 'cheaper' stock is offered to the public to get operating cash, as is the case with all those bio companies that have no revenue.
Even IF all that debt was converted, it would help the bottom line, because that debt would then be gone, and that means no more interest cost.
I don't think all the convertible debt will be converted. The last loan is convertible, but they have 2 years to pay it off. But part of the loan agreement is to reserve shares for THAT COMPANY in case they have to convert for lack of payment by ICLD. They should be able to pay without a conversion, since much of their debt has already been paid, leaving more cash to pay off that loan and work on others as well.
And, for the last time, ICLD MUST reduce the OS because they are currently illegal. There are not enough unsold shares to permit already agreed to conversions.
That is for the ONE LOAN that was announced in March. There are millions of dollars of unsecured convertible debt for which there is no reserve. That is stated either in the 8K or 10K. The $2 million doesn't even cover the new loan at $.04.
So, the R/S is required for even the new loan, let alone all the rest.
It is not dilution. Period.
Dilution is when they sell new stock at an offering below the current stock price. That is done to GET CASH for operations. Almost always, those are increases in the AS, not decreases in the OS.
The ICLD conversions REMOVE debt and decrease the OS. It is trading shares for cash they would otherwise have to pay. It is preservation of cash, and one can assume the cash is being used to dispose of even more toxic debt (convertibles with worse terms.)
The down side is that some investors are ignorant of the differences, and will sell into any RS because they believe any RS, for any reason, is a negative thing.
Won't affect me. I'll still be sitting with my 1/4 number of shares at 4X the price, and watch the price vary as it does every day anyway. Only before, a penny rise can mean 25% increase, and afterwards, it would take 4 cents to make that same percentage increase. Of course, the same incentives drive both.
Net net - the RS is immaterial to everyone except ICLD, which MUST decrease the OS to remain legal.
This split has ABSOLUTELY NOTHING TO DO WITH STOCK PRICE. It is ONLY to reduce the OS. P.E.R.I.O.D.
You can't put all R/S activities in one bucket and claim they are all bad. Good grief!
This one is MANDATORY to prevent a default by ICLD. If it was 1 for 200 you would have a point, maybe. But not for what they need - they have no more stock to sell or convert, period. And they have convertible debt, meaning they HAVE to have shares available.
The debentures represent debt. The debtors take shares in place of cash. The shares represent the CURRENT price minus the discount irrespective of whether a split was performed or not. They aren't going to get MORE shares after a reverse split!!
All you have to do is READ one of the 8K's that describe exactly how it works.
The RS is not about stock price, for the umpteenth time. It is because they are OUT OF SHARES, and still have convertible debt on the books. They HAVE to have shares to satisfy the conversions, legally. It is plainly stated in the 10K and has been posted here numerous times as well.
Again, just for clarity, the small RS ICLD WILL do is to reduce the OS, nothing else.
As far as I know, loan conversion rates at unaffected. Conversions are done to pay off loans, so they would get paid off 4 X faster. It is a dollar amount, not a specific number of shares.
The reverse split that was approved is UP TO 1 for 4. To learn what such terms mean, you should use Google.
A reverse split reduces the outstanding shares by the split ratio, and increases the share price by the same ratio. There is no difference in value in your portfolio. It is not for your benefit, it is for the company's requirement to have more unsold shares, in this case.
I am thinking that the biggest news happens in August. Two reasons:
They have given August 29 as 'on or before' date for the split, and there is a 50K block of options due about that time.
There must be a good reason to specify that date. There may be PR before then, but I think the big news is probably around that date.
Splits are always done after all trading is stopped, as at night or in the morning. Can't be splitting while trading is going on.
Actually, after hours trades can be done on OTC if you have someone willing to do it manually. International markets also have access to OTC after hours. But most likely, such trades are those that are done close to the bell and are recorded after hours. There are pretty strict rules about logging trades, as it would be easy to cheat without those rules.
Google "after hours trading OTC" to learn more.
adtime, I'm honored that you both get the point and want others to get it as well. We do need to wait for news instead of inventing it from rumors.
My comment is about the reliability of the numbers you are quoting. I would like to see live data. Everything I can find matches the 10K of March 9th, which is also on the 'tear sheet', Yahoo, and anyplace else I look.
Doesn't a broker somewhere have a live OS count? Etrade does not, I've looked.
So, no live link to OS? Anywhere? Anyone?
It is exactly the same as the annual report stated - to the share. 487,892,651. That's my point.
Not sure the OS has been dropping. Or even changing. From the 10K, it was 487,892,651 on March 9. I've seen some other numbers on ihub, but I wonder about the reliability of those numbers. If someone has a link to a LIVE count of OS, please post it.
Every place I look, I see the above number, sometimes rounded to 487.9M.
So all that talk about buying back shares was apparently just talk - without links to prove actual data, it is just rumors. Emails are not facts.
Parrot -
There is no need to retract anything in an SEC filing. It is an UPDATE to current business conditions. It might change again, depending on business.
But it is not good to stay maxed out to the A/S all the time, and they MUST have shares available for stock options, etc. There is a 50K option becoming due late August. So, a split is quite likely, and is a good thing.
Depends on the final ratio of the R/S.
Up to 1 for 4 is approved. If that is the final ratio, the stock would be worth 4X more, and you'd have 1/4 as many. So, your portfolio would be unchanged.
kl11i
I think this one is the golden goose. I only watch closely, daily, for changing conditions. I don't think I have enough cash to buy any more, but I would if I could, at these prices.
But if something serious came up, such as, say, a valid lawsuit that could tank the stock for the foreseeable future, I would have to consider whether to wait it out or sell. I've been through lawsuits before and cleaned up, because I bought at the bottom and rode it up.
But I don't see any problem with this company other than finishing up with the debt. From what I can see, they are doing exactly what they said they'd do.
They could announce a sale of an asset, or a significant addition to the business almost any time. I believe in being there before the big news that will be a major stock mover.
Good grief!!
Companies do not have to announce their plans until they are firm. ICLD apparently doesn't know when the R/S is going to be needed. It is ONLY needed for one reason - to reduce the OS. If debtors don't decide to convert shares, there is no need for the R/S. But ICLD MUST be in a position to accommodate the conversions, which they are.
It says right in the 10K that if all the conversions were done at once, there would not be enough shares in the AS to accommodate the conversions. The RS is already approved, and will be done when it is needed.
We are talking about changing market conditions, not some calendar of events.
There is unlikely to be an R/S in March. The 10K SUPERCEDES what was in the 8K. It says 'on or before 8/29'. That is the new date that is provided to us. If it happens in March, that is still 'before 8/29'.
The date changes based on NEED to do it. If there is a need for a conversion to be done, the R/S will happen as needed. I imagine that debtors have been asked to not convert, as the balance sheet gets in order.
But, some debtors might prefer shares at current prices if they believe that will make them more money than accepting payments and interest. Doubt they would accept shares if they didn't believe in the company.
No, they must do the RS or have a special meeting to raise the AS. They don't have enough authorized shares to cover conversions. It is clearly stated for anyone that takes the time to actually read it. They can't sell more stock than is authorized, and they have convertible stock for which there are no reserves. It is not a maybe, and not a postpone - it is a matter of when, for the reason they state - they need to reduce the OS. That is the ONLY reason!
Facts: Authorized shares, outstanding shares and the reverse split.
Note that the EXACT REASON for the reverse split is spelled out in detail, and bolded by me for emphasis below. No talk of stock price, no talk of Nasdaq or OTCQX. It is simply to reduce the OS to permit current debt to be converted to shares. Period.
From the 10K, which is the most recent filing, which is current through March 7 2017:
We are authorized to issue 500,000,000 shares of common stock, of which 112,840,013 shares were outstanding on December 31, 2016 and, primarily as a result of the conversion of convertible debt securities since December 31, 2016, 487,892,651 shares were issued and outstanding on March 7, 2017. At March 7, 2017, we had reserved 49,923,696 shares of common stock for issuance upon conversion of certain of our outstanding convertible debt securities and warrants. In addition, at such date, we had outstanding $28,119,795 aggregate principal amount of additional convertible debt securities for which we are not required to reserve a specific number of shares of common stock for conversions but that is convertible into an undeterminable number of shares of common stock based upon a discount to the then-current market price of our common stock. If all of these securities were converted or exercised, the total number of shares of our common stock that we would be required to issue would greatly exceed the number of our remaining authorized but unissued shares of common stock.
As a result of such potential shortfall in the number of our authorized shares of common stock, it is likely that we will have insufficient shares of common stock available to issue in connection with the conversion or exercise of our outstanding options, warrants and convertible debt securities or any future equity finance transaction we may seek to undertake. Accordingly, we may be required to take steps at an annual or special meeting of stockholders to seek approval of an increase in the number of our authorized shares of common stock. However, we cannot assure you that our stockholders would authorize an increase in the number of shares of our common stock.
Alternatively, we may be required to reverse split our outstanding shares of common stock to create additional authorized but unissued shares. While our stockholders have approved a reverse split of our common stock on an exchange ratio of up to one-for-four shares on or prior to August 29, 2017 at the discretion of our board of directors, a reverse stock split may adversely affect the market price of our common stock. Our failure to have a sufficient number of authorized shares of common stock for issuance upon future exercise or conversion of our outstanding options, warrants and convertible debt securities could create an event of default under such securities, which could adversely affect our business, financial condition, results of operations and prospects.
No, I don't have a timetable. But, when the sp is 10X my avg, I will sell 10-12% to recover my original investment. I don't expect the sp to be anywhere near pennies in a year, and I don't need the cash any time soon.