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$ICLD is very serious about lowering and eventually eliminating all its debt and is doing a great job.
Selling a non core asset for 4.9 million dollars (that it only payed under 1 million for) and applying it to paying down debt says alot.
See below for details...
http://www.otcmarkets.com/stock/ICLD/news/InterCloud-Reduces-Convertible-Debt-with-the-sale-of-High-Wire-Business-Division?id=152275&b=y
OTC Disclosure & News Service
NEW YORK, March 01, 2017 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (the "Company" or "InterCloud") (NASDAQ:ICLD), a leading provider of cloud networking orchestration and automation solutions and services, today announced the sale of the High Wire Networks division of ADEX Corporation. ADEX’s High Wire division contracted with telecommunications infrastructure manufacturers to install the manufacturer’s products. The asset was originally acquired by ADEX in 2014 for less than $1.0 million and accounted for approximately $11.0 million in annual revenue in 2016. Under the terms of this asset sale, InterCloud received $4.0 million in cash and is expected to receive an additional working capital adjustment of approximately $0.9 million, to be paid in six months. The proceeds from this sale were used to reduce secured outstanding debt.
Mark Munro, CEO of InterCloud stated, “The sale of this non-core business asset is a continued realignment of InterCloud’s business strategy and reduction of our outstanding liabilities. This sale has given InterCloud the opportunity to continue to improve our balance sheet and reduce the amount of convertible debt causing shareholder dilution. We are continuing to explore other non-core asset sales as well as a conventional asset based lending solution, to reduce the exposure to remaining convertible debentures.”
$ICLD's Operating Units
"Through a series of acquisitions, we have expanded our service offerings and geographic reach over the past four years. Our company is comprised of the following operating units:
Integration Partners-NY Corporation. Integration Partners-NY Corporation (“IPC”), is a full-service voice and data network engineering firm based in New York that serves both corporate enterprises and telecommunications service providers. IPC supports the cloud and managed services aspect of our business and expands our systems integration and applications capabilities.
ADEX Corporation. ADEX Corporation (“ADEX”) is an Atlanta-based provider of engineering and installation services and staffing solutions and other services to the telecommunications industry. ADEX’s managed solutions diversifies our ability to service our customers domestically and internationally throughout the project lifecycle.
AW Solutions, Inc . AW Solutions, Inc. and AW Solutions Puerto Rico, LLC (collectively, “AW Solutions”), are professional, multi-service line, telecommunications infrastructure companies that provide outsourced services to the wireless and wireline industry. AW Solution’s services include network systems design, architectural and engineering services, program management and other technical services. Through Logical Link, an Outside Plant (OSP) engineering company, AW Solutions provides in-field design and drafting of wireline, fiber and DAS deployments. Logical Link also performs construction and installation through subcontractors.
T N S, Inc. T N S, Inc. (“T N S”) is a Chicago-based structured cabling company and DAS installer that supports voice, data, video, security and multimedia systems within commercial office buildings, multi-building campus environments, high-rise buildings, data centers and other structures. T N S extends our geographic reach to the Midwest area and our client reach to end-users, such as multinational corporations, universities, school districts and other large organizations that have significant ongoing next generation network needs.
Rives-Monteiro Engineering LLC and Rives-Monteiro Leasing, LLC. Rives-Monteiro Engineering, LLC (“RM Engineering”) is a cable firm based in Tuscaloosa, Alabama that performs engineering services in the Southeastern United States and internationally, and Rives-Monteiro Leasing, LLC (“RM Leasing”, and together with RM Engineering, “Rives-Monteiro”), is an equipment provider for cable-engineering services firms. RM Engineering provides services to customers located in the United States and Latin America.
Tropical Communications, Inc. Tropical Communications, Inc. (“Tropical”) is a Miami-based provider of structured cabling and DAS systems for commercial and governmental entities in the Southeast. "
2017 only gonna get better
"$ICLD Mark Munro, CEO of InterCloud Systems stated: “We have seen higher volume in our stock as of late, as lenders exercise their rights to convert their debt into equity. The pressure on the stock from the conversions of debt into equity is not a reflection on the operations of the Company. As we have previously disclosed, the Company is working very aggressively to secure more conventional asset based financing to help reduce these conversions. We are also working on the sale of non-core assets to eliminate some of this convertible debt as well. We continue to have a positive outlook for 2017 and anticipate that a stronger balance sheet, reduced operating expenses and continued marketing of our more profitable products and services will produce improved shareholder value in the future.”
InterCloud Systems Reports Full Year 2016 Results
Mar. 14, 2017 10:32 AM
* Long term debt reduced by $27.4 million since June 2016
* 2016 Revenue of $78.0 Million Compared to $74.1 Million in 2015
* 2016 Operating Expenses reduced by $7.8 million
SHREWSBURY, N.J., March 14, 2017 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (ICLD) (the "Company" or "InterCloud") (OTC:ICLD), a leading provider of networking orchestration and automation solutions for IOT, SDN and NFV and services, today reported financial results for the full year 2016.
Full Year 2016 Financial Highlights:
Mark Munro, Chairman and CEO of InterCloud, stated, “In 2016, the Company began a systematic restructuring. The changes included the sale of certain assets to generate cash and reduce senior debt. Our senior debt now totals only $5.7 Million; which is down from $25.7 Million in June of 2016. The senior debt reduction along with the subordinated debt reductions since June 2016 now total over $27.4 Million. This is a significant and important reversal.
Our team remains focused on eliminating or restructuring the remaining subordinated debt in order to reduce interest expense and increase the shareholder equity of the Company."?
In addition, Mark Munro, Chairman and CEO of InterCloud stated, "InterCloud will continue to deleverage, sell assets that do not have significant upside for the long term and focus on deeper cost cutting measures to achieve positive cash flow. Our focus is on driving our cost of goods sold down as well as reducing future operating expenses. Corporate costs are also being reduced as our employees are focused on achieving more with less overhead.
"In 2016, InterCloud’s SDN and NFV related revenue increased from zero in 2015 to almost $5 million in 2016. This market has been slower to adopt than most experts predicted but clearly the virtualization of the network has begun and future opportunities remain robust and exciting for InterCloud. Our team has focused on several highly remarkable use cases in healthcare security and analytics, tier two carrier orchestration and automation, and deep machine learning analytics and automation for IOT applications. Recently, two companies with similar software platforms to InterCloud's have sold for over $100 million each. These events give us even more confidence we are in the right space at the right time. We have streamlined costs but our platform remains robust and the team continues to develop use cases with near term revenue opportunities. We have focused on strategic partnerships to help lower our costs of sales and deliver our solutions into large enterprise customers that already have existing relationships with our brand name partners. I look forward to reporting news around this market during 2017."
In conclusion, Mark Munro, Chairman and CEO stated, "2016 was a solid growth year for InterCloud. Revenue increased, costs lowered and debt was significantly reduced. We look forward to driving efficiencies deeper in 2017 and the continued growth and maturity in the new markets of IOT, SDN and NFV.”
Full Year 2016 Financial Results:
Revenue for the year ended December 31, 2016 increased by 5% to $78.0 million, compared to $74.1 million for 2015. This was the result of increased revenue from our professional services business segment offset by a decline in our managed services segment.
Gross profit was 25% for the year ended December 31, 2016 and 27% for 2015. Gross profit stayed relatively flat at $19.8 million for 2016 compared to $20.2 million in 2015. Increases in gross profit in our professional services segment were offset by decreases in our other segments. The gross profit percentage in the professional services segment was 28% for the year ended December 31, 2016. ?
...
Quick gap fill & run tomorrow
My last email to company mentioned delays in getting finra approval
So not sure it will come tomorrow
FINRA does not approve RS's as quickly as it use too years ago because of the abuse from many penny scans.
Exactly
Reading 101 skills required lol
Thats total hogwash lol
10k refers to approval time
8k is execution time
As predicted
Red day
More dilution & red to come
Again for the umpteen time
They have no choice
Get over it !
"Why would ICLD waste a reverse split om .03"
Because they have to make room for future conversions.
Its the law !
So they had 2 choices
Go through the process of AS increase which requires shareholder approval... yada yada
Or use the already approved RS
They have till August to do the RS as per approval
They opted to do it now as per 8k
There is no ambiguity on when the 4 to 1 RS is coming.
The 4 to 1 RS is "on or around March 31st"
Exact date will be communicated when it is official (aka approved by Finra)
Here are the wordings of the two filings.
On March 14,2017 the 10K talks about the approval window. In other words the deadline to have it done by as approved already by shareholders.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11929210
"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"
On March 10th,2017 the 8K talks about the execution date approximation.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11922579
"Following the effective date of a 4-for-1 reverse stock split to be effective on or around March 31, 2017"
They have shareholders approval
They are waiting for finra approval
Yes its 125 million used
And 375 million free
They are doing it
They are waiting for approval only
Send an email to company
Approval may not have come yet
But as soon as they get it
Its a done deal
4 to 1 is not bad
What matters is how the 375 million available shares get used going forward
In other words will the dilution be offset with good news and buying frenzy.
The gap is only 5% away
I think closing it with a quick dip & rip is not bad
Closing it will bring in buyers who cannot sleep until a gap gets filled lol
Like this notorious flipper
https://twitter.com/OTCMillionaire/status/847472454574395392
Do yourself a favor and send the email.
1030 BROAD STREET
SUITE 102
SHREWSBURY, NJ 07702
Website: http://www.intercloudsys.com
Phone: (732) 898-6308
Email: L.Sands@intercloudsys.com
There is zero ambiguity on when the 4 to 1 RS is coming.
The 4 to 1 RS is "on or around March 31st"
Exact date will be communicated when it is official (aka approved)
Here are the wordings of the two filings.
On March 14,2017 the 10K talks about the approval window. In other words the deadline to have it done by as approved already by shareholders.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11929210
"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"
On March 10th,2017 the 8K talks about the execution date approximation.
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11922579
"Following the effective date of a 4-for-1 reverse stock split to be effective on or around March 31, 2017"
Low .0302
Soooo close
May as well fill it and get that topic over with once and for all
Quick test and up
Geeeezzzz
RS coming soon
Company is just waiting on approval
A simple email to company will verify this for you.
Yes
Not sure what is Warren's game plan
He went from very chatty to extreme quiet.
Maybe there is a reason ?
Who knows at this point.
Every investor has his limit on patience.
Mine has run out (after 6 months and only a loss to show for it)
I have sent many emails to Warren showing him examples of other penny CEO's and there shareholder regular updates. 90% of my emails go unanswered.
This is my last post on this board
I will quietly exit without advertising when I do (hate peeps that do that)
Best of luck on those holding
Sincerely hope Warren comes through for you.
As for our favourite negative poster on this board, she is following me on other boards lol
Some cheap that strayed from the flock will sell tomorrow.
And then there is the continued dilution factor.
Gonna take alot of bulls tomorrow to prevent another red day.
Goodluck
Ok good
Updated tweet
**Closed $OPMZ, $TXHD, and $PLSB. Wanted a clean slate before the spring/summer months. Important supports broken lead to this decision. **
— ☀️Alex Sunderland☀️ (@SUNNYLAND24) March 30, 2017
Nothing is stopping the CEO to put out a shareholder update PR
A tweet
Anything really
Extension of 5 days was filed Feb 15th... 6 weeks ago
" The Company’s officers have been working diligently to accomplish a timely filing of the Quarterly Report on Form 10-Q for the period ended December 31, 2016. However, we now require additional time to finalize the report within the spirit as well as the letter of the Commission’s rules. Accordingly, the Company’s preparation of such Form 10-Q could not be accomplished in order to permit a timely filing without undue hardship and expense. The Company expects to be able to file such Form 10-Q no later than five calendar days after its original prescribed due date."
Thats a good point
10 cents I believe is one such minimum price
Actually that's not the way conversions work.
It's all about shares and the number of shares is based on the conversion price which is usually at a 40-50% discount based on either an average over so many days or some other formula.
Debt holders never lose and usually make a hefty profit.
If the RS is not factored in, the number of shares would quadruple.
So its important that it is !
I believe it is.
I hope it is.
Blind faith is very costly
2 days left to EOM
Still no GAP fill
Not all gaps fill
fact
Low volume
5 red days in a row
Looking for green tomorrow
I would think
Where is the 8k showing it like today's 8k
I take it conversion rates are also are multiplied by 4.
Example;
Lets say a note came due today and they're were shares available in the OS.
Not the case of course which is the reason for the RS.
Now lets say there conversion rate is at a 50% discount on a 20 day vwap
This would be around lets say (guesstimate of around .04/2 = .02)
Now after the RS would the .02 now become .08 ?
Logical I would assume it would.
Probably...
Just hate the way this is hyped when dilution is clearly ongoing creating new bag holders.
Watch green close?
I watched, it was very very red close
This is why
$160,449.00 of payable notes as per last 10q
Only 31k serviced at conversion rate of .001 as per 8k just filed
"On March 22, 2017, Vista Capital converted $20,100 in exchange for 23,647,057 shares. The remaining balance of the Vista Capital note is $0.
On February 18, 2017, JSJ Investments converted $11,216.34 in exchange for 10,029,675 shares. The remaining balance on the JSJ Investments note is $0."
130k left which is probably what you saw today. (Dilution) and since March 23rd.
They can drive this lower and still make a killing
Trading well ?
Down 35% ?
Not so fast !
$160,449.00 of payable notes as per last 10q
Only 31k serviced at conversion rate of .001 as per 8k just filed
"On March 22, 2017, Vista Capital converted $20,100 in exchange for 23,647,057 shares. The remaining balance of the Vista Capital note is $0.
On February 18, 2017, JSJ Investments converted $11,216.34 in exchange for 10,029,675 shares. The remaining balance on the JSJ Investments note is $0."
130k left which is probably what you saw today. (Dilution) and since March 23rd.
They can drive this lower and still make a killing
Really lol
Dilution on full throttle here as I explained on my previous post
Once this crosses the 50 MA, the next strong level of support is the 200ma at .33
Mid December 2016, this was hovering around a dime.
Still up over 1000% from just a few months ago.