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InterCloud CEO Releases Open Letter to Shareholders
Open Letter to Shareholders Summarizing Continued Restructuring Efforts
NEW YORK, Dec. 08, 2017 (GLOBE NEWSWIRE) -- InterCloud Systems, Inc. (the "Company" or "InterCloud") (OTCQB:ICLD), a leading provider of cloud networking orchestration and automation solutions and services today released the following letter to Shareholders from the Company's Chief Executive Officer, Mark Munro.
Dear InterCloud Shareholders:
As we are nearing the completion of our restructuring,[url][/url][tag]insert-text-here[/tag] I would like to take this opportunity to reflect on the status of our efforts and our outlook moving forward. Management is cognizant of the losses in our share value suffered through these restructuring efforts. Nevertheless, as we have substantially reduced our debt and strengthened our balance sheet, we improved our prospects for the turnaround of the Company. We did this without taking advantage of bankruptcy protection laws, which we believe would have had a more devastating effect on the Company’s shareholders, debt holders and operations going forward.
After a long, arduous three-year period, the Class Action lawsuit and Derivative Actions that burdened the Company since mid-2014 have finally been settled and terminated as of December 5th 2017. The Company spent a material amount of time and money throughout the process. This liquidity drain is finally over and we can now be more focused on building our businesses and continuing to restructure..
Our senior secured debt which was approximately $9.4 million when we reported our December 31, 2016 numbers, is now less than $3.5 million. We sold several non-core assets during the last year and are considering additional sales of non-core assets; we converted a substantial amount of debt to equity; we restructured subordinated debt and converted that into preferred equity and in the process created a substantial amount of shareholder equity on our balance sheet. We are making every attempt to totally eliminate all toxic paper on our books that have hurt our share price and market capitalization.
During the last year there has been substantial dilution to our Common Stock due to debt holders converting their aged notes into Common Stock and immediately selling those shares into the market. We have seen our authorized Common Stock twice exhausted during this process. The good news is that we have now reduced our existing convertible debt to the point where we believe the intended reverse split recently applied for should not result in the same rapid dilution as in the past.
A stronger balance sheet and the elimination of toxic debt will enable us to develop and market our cutting edge products we had previously announced. X-Barrier and NFVgrid are part of a suite of network management and automation products for Next-Gen Software Defined Networks (SDN) and traditional network environments. In 2018, we expect a restructured InterCloud will bring these new products to market with associated strong margins.
Sincerely,
Mark Munro
Chief Executive Officer
CONTACT:
Investor Relations
InterCloud Systems, Inc.
561-988-1988
The losses doesn't come from business it's due to pay its loan. with$15.1 million of Preferred Equity, we can easily see the light in the end of the tunnel. Now we know the fact of very little loan is left and negotiation is in progress.
Maybe you can't read properly. Those incorrect number as you posting, they will never occur again.
Possibly,but let's not forget the 800-pound gorilla in the room. (Close to debt-free and cash flow positive)for the first time ever in its history the market knows that FACT we need to come out of the cloud from the past and look into the bright future ICLD is not the same anymore that's a fact.
Market cap that matters not OS.
Let's say they do a RS tomorrow, market cap would still be under 3 million.
Do you really think some fooL is going to short the heck out of a stock of less than 8 million as stated outstanding shares ? While the company is showing 50 million in annual revenue?
A fair market capitalization of 50 million annual revenue is 300 million IMO..
Don't be surprised if it flies from $.30 to 30 bucks LOL...
I was in RsLS they did 1-70 RS the stock went from $1. TO $30 less than three weeks.
The same thing happened to IDXG from $.75 $20. The same argument was being post on those boards as well that is going to crash but they all got caught with their pants down.
The final days of dilution coming to an end.
This stock has been held against its well. 90% of daily volume is dilution.
We may have one or two more days.
they don't need no more dilution that's a fact.
Almost debt free profit is coming next Q.LOL...
millions213;patience is a virtue.
Market direction with change soon remember Rome was not built by day traders.
Buying more at this level.....
Don't want to miss out the opportunity of a lifetime which comes around once in a long time.
Exactly..Any subjective piece of writing will contain some manipulative phrasing in efforts to persuade readers to see the poster's point of view. All persuasive language has been used in the case of ICLD but recognizing the forms of manipulative language heightens critical reading skills that help readers recognize when writers intend to lead them astray from what is true, logical and reasonable LOL...
2018 would be a beautiful year for ICLD.
a profitable and debt-free for the first time ever.if some could only see that fact you could be a millionaire if you don't pay attention to the up and down as we go forward.
Excitement is about to begin.
Happy new year to all.
Looking forward to a historical turn around for ICLD in 2018.
Health and prosperity to all.
Watch out for a breakout very tight range trading.
When weak, impatient hands are unloading who's buying?selling is met by steady, patient buying over the span last a few days.That patient accumulation appears on the chart as tight trading. It could appear as a flat base or even a quiet handle on a cup.
oh yeah this is what is going to send a Shock and Awe.
I truly believe the next big news.
Most of the volume and selling pressure are contributed from dilution. That needs to be accounted for too.
T-trade and cross trade are not the only volume that contributes to dilution.
Very interesting close today.
Very unusual activities at the close too.
Dec 26, 2017 volume million 30,919,530
Dec 22, 2017 volume million 27,785,800
OS should be around 981 million.
and a happy new year.
an historical turn around is in horizon for ICLD in 2018.
Merry Christmas to all peace and tranquility.
Heavenly accumulated all these shares will be tucked away for the next five years.
Think about $197,6143% easy uptrend in 2018.
Added more $0.0026
We are witnessing a historical turnaround of ICLD.
People needs to read the recent developments( fundamental analysis) very important. The company is about to report for the first time ever a profitable quarter. This is not a hocus focus Down from 90 million debt to almost nothing which always been the case of dilutions, and money-losing every quarter for the last three years. Had Munro secured the 15 million deal before Q2, they would've shown profit in Q3. These are facts not my opinion.
if you really feel uncomfortable,
Just push the selling button.
It means nothing it is the closing of investigation.
Negativity is part of the accumulation.
Exactly
give it another year.
Dilution is at end they desperately wants your shares.
Why do you think all these desperately foolish negativity is been posting?
It's all part of the game.
Wells is an old argument from 2014 (the last nail in the coffin of that investigation.)
It clearly stated..A Wells Notice is neither a formal allegation of wrongdoing nor a finding that the Company violated any law. Rather, it provides the Company with an opportunity to respond to issues raised by the SEC Staff and offer its perspective prior to any SEC decision or formal allegation being made.
The Company does not believe that a resolution of this matter will have a material impact on its operations.
We should be adding....
slowly accumulated right under our nose.
https://ih.advfn.com/stock-market/USOTC/intercloud-systems-inc-ICLD/trades
.
Q3 and the latest development speaks for itself.
the Class Action lawsuit and Derivative Actions that burdened the Company since mid-2014 have finally been settled and terminated as of December 5th 2017.
Our senior secured debt which was approximately $9.4 million when we reported our December 31, 2016 numbers, is now less than $3.5 million.
A stronger balance sheet and the elimination of toxic debt will enable us to develop and market our cutting edge products we had previously announced. X-Barrier and NFVgrid are part of a suite of network management and automation products for Next-Gen Software Defined Networks (SDN) and traditional network environments. In 2018, we expect a restructured InterCloud will bring these new products to market with associated strong margins.
A good detective work always pays off.
the next big announcement
(She believes the debt will be taken care of well before the RS occurs. Not sure if that was a clue to more of it having been eliminated/restructured or not...but perhaps. JMO on that part.)
Clue indeed it is.
Once the targeted number of shares are accumulated, announced the total elimination of the debt plus gave Preliminary Financial Results for the fourth quarter( cash flow positive and forecasting profit). Can't imagine how high the stock will fly.
Exactly.
phase of the campaign is to absorb the targeted number of shares.
The goal is to buy these shares quietly without drawing attention to their activities. look carefully at the last Q3 the company is more likely to show profit in Q4.
"Theres clearly a plan here....
The question is, what exactly is it?"
I have the same exact question.
no doubt someone desperately wants our shares.
CFO comes and goes no big deal could have been a salary dispute.
cause the CO is in a restructuring mode. Don't forget bringing on board a good CFO has always made them the difference.
Like I said you're not going to have my shares
Dec 07, 2017 volume 90,691,700 million close down 24%.
Dec 08, 2017 volume 88,595,300 million closed up 90%.ly
Dec 11, 2017 volume 58,926,700 million closed up 16%.
Then the volume just dies down. I will be adding more while Munro is Buddy's are scooping up all these cheap shares.
I am adding as well my friend every opportunity I get.
We won't be able to get these opportunities once the train starts rolling.
Nope you are not going to have my shares.
I know it's been accumulated on the Bear side not to raise any eyebrows.
I have seen this movie before I have patience and time.
Nothing gives you more comfort than fundamental analysis.
Enterprise value 29.5 million over 40 million annual revenue and market cap of less than 3 million? It's a joke; time to accumulate and kick back Huge run is coming.
patience is the key here.
I think you need to change your tactics my dear.
because by now everybody knows that when you show up, you make them eager to buy more because we all know what's gone on here.not to mention that you have burned all the bridges.
Come on guys be nice to superhero computer.
is a behavior of habitual or compulsive tendency to spin out outrageous comments which already been twisted in 100 Different Way but the same exact motive.Ultimately, making this type of distinction may not be that useful. Because we longs all know in either case the outcome That ICLD is in a better fundamental position then it ever was that's a fact.
And once the table turns next week, sky is the limit because we know it's waaaay undervalued.
Most likely Friday was the last day of dilution.
That also explains why the stock closed down with red But is Primed To Rebound
Here are some facts about Friday's T-trade.
Friday Dec 08, 2017 volume 88,595,300 million . T-trade 15.3 million Fact.
Friday Dec 01, 2017 volume 7,768,700 million. T-trade 1.6 million Fact.
Friday Nov 24, 2017 volume 20,537,200 million. T-trade 7.8 million Fact.
I find your statement weird that ''In fact, there have been several Fridays without T-trades for some reason''?
Most likely that OS has maxed at 900 million.
If that is a fact, the stock would fly next week.
Last day of dilution no T trade or cross trade.
Next week should be very interesting
I am loving all these cheap shares.
Every one of them watch it learned.
I am glad some of the weakhands was pushed out.
huge return..
After many years of so much debt, the CO is going to be profitable in Q4. I am not going to let them steal my shares even after the reverse split the stock would fly.
This stock is bitten to the ground zero.
Loading more today.
I am glad some of you were pushed out. You deserve it your weak minded therefore he don't belong.