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Now that they are a bit player in a local market, the only way they will become bigger is if they are acquired by a regional player. I don't know this business well enough to know who that may be. The CTC NAP has changed hands twice in the last 15 months, so the owners already squeezed the value out of the company, or they saw no potential for real growth. It appears the "award winning" appliance business is gone. With no new (announced) buyers, their product line is aging on the vine and probably not keeping up with advances in technology. Even a White Knight can't fix this "company".
I'm not sure you are correct. John Signorello was a small-time operator who thought he could make a bunch of money by founding a company while singing at nightclubs. His untimely passing provided an opportunity for the board to develop a working business plan, but the product just didn't gain traction. Now they have apparently hitched their wagon to Graeme Gibson, a pretty smart and locally well-connected fellow, but not a visionary when it comes to a business plan for an expanding company. He owns a small mall, has published some articles, and joined his CTC company with the local NAP. In one of his public posts he boasted that his company had laid over a mile of cable over the previous year. A mile!! Really?? We have more cable than that in the building where I work. On balance, he is a small time operator also - albeit a small time operator with a bit more business savvy and success than Signorello. Iceweb solved the steady revenue stream with this merger, but to date there is no evidence the stream is sufficient to allow the company to survive, much less thrive and expand. And Gibson was able to make his privately held company a public one through the merger. I just don't know what they plan to make of it.
Gibson bought the NAP in 2012, then sold the new entity (CTC NAP)to Streamside Partners in January 2013 staying on as the CTO. Three months later Iceweb announced they were buying the company from Streamside, conpleting that transaction in October 2013 - Gibson still CTO. No info on leadership. No real progress with the business plan. Are they just selling shares to pay Lucky and Gibson?
It appears they continue to sell shares to fund daily operations, driving the share price over the cliff, but to what end? Are they grasping at straws as the ship sinks into bankruptcy? Are they driving the price so low they can take it private and rid themselves of bothersome shareholders? In the partial bio I posted of Graeme Gibson it stated that CTC NAP is profitable. There is a plan afoot, but it is not apparent. They hired a firm to "enhance shareholder value" and continue selling shares, driving the price lower. I don't get it.
I'm still trying to figure out this "new" company.
Graeme Gibson seems to be the new driving force. A recent bio lists him as "Graeme Gibson, CCP, MCSE, MCP+Internet, is president and CEO of Computers and Tele-Comm, Inc, (CTC) a leader in design of wireless networks and a well-respected and profitable Wireless ISP with years of experience. Gibson was trained at Duke University and the University of New York at Albany . In addition to his 20 years experience in the computer industry he also is formally trained in RF technologies, radio and television broadcasting. He is probably best known for his Books How to Build a Clone Computer and The Computer Repair Handbook . Those conversant with Microsoft's MCSE program will recognize him for his work on Windows NT, Tests Tricks & Technique , an Audio book covering test basics and best practices. Gibson is also well known for his 6-year run as the Host of the syndicated TV show Computers Today , as an actor, radio announcer and director, and as a contributing author to Computer User Magazine." The bio also says, "Mr. Gibson also holds the position of President and CTO of the KC NAP, LLC . This network access point built in the Historic Bryant Building at 11th and Grand, in downtown Kansas City. The NAP a carrier neutral peering point and co-location center was built with the help of the Bryant Building and 3 local partners. NAPs provide peering to carrier networks ISP's and WISP's. They help to lower the costs of bandwidth, improve performance and provide the ability to create private overlay networks. NAP's can support BGP routing for building disaster recovery networks covering IP space of outer non-member carriers <http://www.whyagain.org/index.php/en/catalog?id=129:graeme-gibson&catid=34:contributors>
He is also a mall owner and operator. <http://www.usastores.com/offices.htm>
An updated bio lists him as "President/Founder/CTO" of Computers and Telcom Inc. <http://www.lead411.com/Graeme_Gibson_12765702.html>
Graeme's wife, Gail Simmons, is listed as his "business partner" in several of his Kansas City projects, including a solar array they built for the Holly Data Center, part of the NAP. <http://www.linkedin.com/in/gibsongraeme>
So, the questions become:
1) Who is in charge?
2) What do they intend to become?
3) Can they generate a profit?
4) Where do the Iceweb products fit into the new company?
I feel like a blind man walking through a mine field with this company.
Be careful what you wish for. I see a scenario where the stock price is driven so low that an investor takes the company private, leaving the shareholders with only a sad memory of their "ownership". With a current market cap of only 4 million dollars, we may already be there.
If the company is to remain public, I don't see how they can avoid a large reverse split, but I don't see that on the horizon. Given the history of the Kansas City NAP, IWEB may be accomplishing two things by constantly selling shares. First, they get cash for daily operations and Mark Lucky's salary, and second , they drive the market value so low that it can be taken private on the cheap. I don't think we'll be getting Christmas cards from Iceweb this year.
One can only speculate. Iceweb acquired Inline a few years ago in the belief that it could compete with the big hardware manufacturers by undercutting their price. The product was apparently good, but failed to gain traction. IWEB needed to find a new direction or perish. The NAP was sold twice in the past two years before being "acquired" by IWEB. It looks more like a reverse merger with IWEB becoming CTC rather than the other way around. IWEB is a publically traded company and CTC was privately held. Now the entity is a public company and it appears that Iceweb is a subset of CTC.
www.ctcwi.com
Someone has a plan here, but shareholders will be the last to know.
Insider buys for 2013
Nov 13, 2013
SOYSTER HARRY E Director
588,236
Direct
Acquisition (Non Open Market) at $0.02 per share.
11,764
Nov 11, 2013
PIRTLE RAYMOND Director
588,236
Direct
Acquisition (Non Open Market) at $0.02 per share.
11,764
Nov 11, 2013
CAROSI NICHOLAS III Director
588,236
Direct
Acquisition (Non Open Market) at $0.02 per share.
11,764
Nov 11, 2013
STAVISH MARK EDWARD Director
588,236
Direct
Acquisition (Non Open Market) at $0.02 per share.
11,764
Nov 11, 2013
BUSH JACK EUGENE Director
588,236
Direct
Acquisition (Non Open Market) at $0.02 per share.
11,764
Nov 11, 2013
COMPTON HAROLD FDirector
588,236
Direct
Acquisition (Non Open Market) at $0.02 per share.
11,764
Jan 8, 2013
COMPTON HAROLD FDirector
54,054
Direct
Acquisition (Non Open Market) at $0.07 per share.
3,783
Agreed. The appliance business sounded good, but the competition is intense, and spending big bucks on a start-up who may not survive was just too big a hurdle to overcome for most potential customers. The current model has at least some predictable recurring revenue. Whether it is enough to make the company viable (and profitable) remains to be seen. At least Mark Lucky is earning his salary for keeping this leaky ship afloat.
$50,000,000 accumulated deficit? Maybe they should buy a powerball ticket - if someone will loan them the money!
IceWEB Storage Corporation
22900 Shaw Road, Suite 111
Sterling, Virginia 20166-9279
Our Mailing Address is:
IceWEB Storage Corporation
PO Box 617
Sterling, Virginia 20167-0617
From the Iceweb website: but they're not in Virginia any more, Toto
Nothing in this release about award winning appliances and hardware. Has Iceweb changed it's business? Is the reduced employee base indicative of shutting down their manufacture of hardware? Note that the release came from Kansas City, not their Virginia address as listed on their very neglected website. At least their latest attempt to build a business through the NAP seems to have an actual revenue stream, however small.
Read the website for ACV. They are a pump company that charges to advertise in an attempt to"enhance shareholder value". They have done this before to no great effect for shareholders, and short term gains for a few nimble traders. Maybe with another pump they can unload a few million additional shares on unwary buyers so they can continue to finance their "operations" by further diluting the float.
Yeah, I know. I visited there a couple of years ago when I was in DC. The office was in a warehouse type structure with offices at the entrance, some meeting rooms, an assembly room, and a parts storage area (about the size of a 4 car garage). They got a deal and were renting it for $5000/month at the time. But I haven't been back there in a while and don't know if they have moved their primary office to Kansas City. So much of the info on the website and other online info sources is out of date, I didn't know whether the main office has relocated. If I get back to DC in the next couple of months I'll stop by again to see what's up.
True enough, but I wasn't addressing individual shareholders. None of them will be trading the total daily amount of shares. I was referring to the relatively small amount of money that trades hands on the market each day in IWEB. I am guessing - since I have no way to actually know - that the bulk of these shares on a normal trading day are being sold by the company to finance their operations. On the higher trading days there are probably a lot of flippers adding to the total. Unless the share price goes up and the company can prove it is executing its business plan with actual revenues, daily trading will continue to be anemic and won't attract any serious or institutional investors.
I have lost the wicket on what Iceweb does. Do they still have their office/assembly plant in Sterling? Do they have an office in Kansas City? Since the CEO letter of Nov 14th, there hasn't been much information on them anywhere. Volume has been running at about a million shares a day, but that is about $15,000 - about the value of a good used car. It appears more and more certain that any "dead" money invested here will soon be lost money.
I am totally confused. Is ICEWEB no longer a manufacturer of "award winning" hardware and software? Is it providing the infrastructure for other ISP's or - what does it do to make money? It went from a reseller, to a marketer (including Silver Creek sales and dog walking service), to a manufacturer (when it bought Inline) to whatever it is now. I am adrift as sea with this one.
It appears they are going to the OTC ATM each day for $10,000 to $30,000 in operating funds, each day cheapening the value of the following day's withdrawal.
Management continues to evolve the company, trying to come up with a profitable business model. We now have IceNAP in Kansas City along with the IceWeb folio of hardware and cloud services. No earth-shaking progress, just a slow slog trying to generate predictable revenue streams from customers. Perhaps they will have better success with this model (whatever it is) than others where their commission-driven marketers were unable to sell enough stuff to keep tham afloat. It would be nice for them to communicate their long term plans and exactly what kind of company they envision they will be five years from now.
Every post this morning is a paid pumper.
I seem to recall that you are in the DC area. I visited the IWEB office a couple of years ago before John passed away. I haven't been to Washington for a while so I haven't been able to get to the IWEB office recently. Have you had the time to stop by and see if the doors are still open?
Bearish??? My comments were not directed at IWEB, but at the volume of prattle on the board today - apparently by one or more people with some agenda. And yes, I have been invested in IWEB for a while, with some shares above .50 - dating back to the days when they sent Christmas cards to shareholders.
Who Are Those Guys? What an incredible pile of nonsense on the board today. I sure hope the management hasn't resorted to hiring addlepated teenagers to conduct the sophomoric prattle that has filled this board today.
IWEB apparently needs over $1,000,000 cash by August 31st to complete the deal. I don't know where they will get it.
I haven't seen a post in six days. Is the board still active?
The positive thing for me is that the company is finding buyers for its products. Given the small size of the company, its rickety financial position, and the possibility that it may struggle as an on-going concern, there are still clients who are willing to buy their products. Whether the rate of sales will reach critical mass and give them sufficient cash flow to live off their net (positive) cash flow is still a question mark. but for now, it is encouraging that products are still flowing (trickling) out the door. For years they have been looking for the product that will make them profitable - perhaps BYOD is the niche that will work.
Q is released. Ouch!
That was dated in April and talks about a stock price of .16 - old news.
I agree it is good news. Of course, the devil is in the details. The new product is low priced, and presumably has low margins and low profit per unit. Still, it validates the utility of the product and recognition by the purchasers that it meets their needs. Lets hope the positive momentum continues.
It doesn't have to be an Iceweb employee. There are people within the purchasing entity who would be aware of the impact of a large sale on a small company. Those who supply Iceweb with parts for their inventory can also be savvy about investing. And I don't believe they are technically "insiders".
You may be right on the dilution, but I don't understand why they would issue additional shares during a "dead time" for sales and PR's. It would seem they would be better served to sell shares into a spike rather than into a dip - and they have full control over the issuance of both sales news and shares.
Yes. I've been there.
The infrastructure reflects what Iceweb is: a little bitty company trying to execute its business plan and become a viable enterprise. They don't own that space; they rent it for about $6000 a month. That will keep down their costs and allow them to move on to a bigger facility with less hassle when the time comes. John, Steve, and Mark have modest offices, and the assembly area is well-sized for the current volume of business, as is the storage area where their parts are warehoused. They have several other employees on site working on their 24 hour service build and R&D for their products. They do not have any appearance of permanence beyond the ICEWEB sign over the door (my perception is they are perpared to upgrade or move their facility when and if it becomes necessary). They are apparently being very prudent with their overhead costs until they have the cash flow and profitability to worry about appearances.
Did you go inside and see the work spaces, assembly area, and parts storage part of the business - and talk to Mark, John or Steve?
Sorry, I guess I missed that one. I saw a "surge in sales" and "high inquiry demand" along with the sale of three units. Perhaps the recently announced three units were the backlog of which they previously spoke.
How do you know there are backlog orders?
You can't exclude that there is life on other planets, Jimmy Hoffa is still alive, or Madonna is actually Michael Moore in drag. Not excluding means exactly what?
Check out his employment history - extensive background, but very short tenures everywhere he has been.
White & Partners (Account Exec): 1 year 3 months
Nomadic Display (Director of Marketing): 2 years 5 months
AXENT (Marketing Manager): 3 years
W Quinn (VP Marketing): 1 year 7 months
Precise Software (VP Marketing): 1 year 7 months
iCode (VP Marketing): 1 year 4 months
INPUT (VP Marketing): 1 year 7 months
immixGroup (VP Marketing): 1 year 10 months
Jobfox (VP Employer Marketing): 2 years 9 months
AppAssure Software (CMO): 2 years
Some of his job changes were due to the company being acquired, but the new companies never took him along. At the two year point you usually get canned if you still can't find the men's room. I hope the crapper isn't on the menu for us with this guy.
Check out his personal website:
http://sites.google.com/site/steventoolemarketing/