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Author Steve Clark
Posted on July 17, 2017
INTERCLOUD SYSTEMS INC. (OTCMKTS:ICLDD) UNVEILS NEW SOLUTION FOR PROTECTING HOSPITAL NETWORKS
InterCloud Systems Inc. (OTCMKTS:ICLDD) has launched a new machine-learning security forensics solution for healthcare networks and medical devices. Dubbed X-Barrier, the solution is designed to target network security vulnerability. The company’s stock was up by 5.59% in Friday’s trading session to end the week at $0.0359.
X-Barrier Solution Capabilities
InterCloud Systems Inc. (OTCMKTS:ICLDD) is a leading provider of cloud networking orchestration and automation for software-defined networking. The company’s solutions are designed to offer enterprise and service provider customers a way of adopting operational expense models by outsourcing cloud deployment. Its managed services segment provides hardware and software products to customers in addition to maintenance and support services.
The launch of the new healthcare solutions for patching vulnerabilities in the healthcare sector comes on the heels of the launch of NFVgrid SD-WAN solution for management of multi data center networks. X-Barrier development marks yet another milestone in the company’s push to expand its portfolio of network management and automation products for Next Gen Software Defined Networks.
X-Barrier leverages machine-learning and artificial intelligence capabilities to detect threats directed towards networks. According to InterCloud Systems Inc. (OTCMKTS:ICLDD), X-barrier uses non-deterministic algorithms to detect known and unknown threats. The solution does not need any pre-configuration to operate as it constantly adjusts its detection models.
“Our product provides an automated way to segment, survey and protects a healthcare facility and hospital campus not only from the outside threats but also from the internal networking objects already penetrated by hackers,” said InterCloud Systems Inc. (OTCMKTS:ICLDD) CEO, Mark Munro.
Marketing Push
X-Barrier is designed to prevent hackers from gaining access to hospital networks where they can gain access to various vital equipment such IV Pumps and ventilating machines. InterCloud Systems is currently in discussions with a number of resellers as it seeks to make the machine-learning solutions available to all hospitals across the U.S.
Combining X-Barrier and NFVgrid SD-WAN should help hospitals stay one step ahead of hackers. SD-WAN, for instance, is designed to provide a hard to duplicate machine-learning network analytic functions for receiving in-depth information about networking flow patterns. The two solutions are expected to strengthen the revenue streams for InterCloud Systems Inc. (OTCMKTS:ICLDD) as the company moves to market.
http://stocknewsunion.com/intercloud-systems-inc-otcmktsicldd-unveils-new-solution-for-protecting-hospital-networks/6261/
Great post, Stockdawger!
Patience, as I've been told, will win this battle.
As soon as the shorts start seeing the clouds parting and the sun shining through for ICLD they will scamper to cover their short shares.
Thanks Maverick.
The share count grows...only so far though.
I bought almost 600k shares today. It did tank after the last chunk was bought.
Yep, Pell, the cheaper they make it the more my money will buy!
You said:
"I agree. I think InterCloud Systems, Inc may be refinancing some obligations and going debt free here. We shareholders are predicting this to be a 100 million dollar revenue company in the next three years that will be debt free with a max out OS of only 500 million shares. Multiples of only 10x will take us well over $2.00 or more a share."
I was looking at their quarter ending Sept. 30 2015 where it looks like they were pulling in about $65 million in revenues foreign and domestic together. They were definitely on their way to $100 million in revs back then. I'm sure that's where they want to be again. Mr. Munro knows how to get them there. I think it will be even easier this time with the sunny outlook for their sector.
All we have to do is hang on with both hands!
You said:
"Mr. Munro, Can you please tell me that if I mortgage my house to load up with ICLD shares that I will be able to buy a private island with my gains here?"
If it happens that we end up with the same amount of shares 2 years from now and the price is $1 or more this would be like winning a lottery!
I'm planning to hold my shares for 3 to 5 years and fully expect a Nasdaq uplisting somewhere during that time.
There are too many positives happening for ICLD to think about selling this right now.
The day the short roaches get scared enough to start the stampede out will be spectacular! You know who you are...your day is coming!
So kl11i, where would that island be?
Don't forget we found out that they are getting new contracts and not neccesarily blasting alerts about every one because they don't want to be accused of pumping so we have lots of very positive news coming in the next earnings.
Keep a kung fu grip on your shares because the shorts can't keep holding this down indefinitely! At some point the pressure will build and blow the ceiling and roof right off the foundation!
I will be here when it happens...count on that!
The positives keep piling up for ICLD.
We found out what the company is suing Grant Thornton for...BIG BUCKS!
We found out the debt maturing in October is being reworked and pushed out to another year. No dilutiuon.
We found that the sector ICLD is in will grow by 15x in the next 5 years.
Just keep your shares even when they start going up because they have a good way to go.
I'm sure Grant Thornton has insurance for cases like this if they have to pay up big.
Thanks for posting this!!!
This is killer information!
Grant Thornton might be paying off a lot of InterCloud's debt if the judge sees it our way!
I had no idea how much they were going for in this case!
I think my eyes almost popped out of my head when I read what damages ICLD is going for!!! Holy Cashola!
From the first website you pasted it looks like at least an $8 or $9
million lawsuit but the loss of market cap could be millions more.
Grant Thornton has problem...
Just got back and saw the new communication results that Maverick recieved from management.
That is great news that the Oct. debt issue is going to be resolved and the dilution is off the table!
The further along we go the more revenues the company will be earning and the financial situation will be taken care of with no pain for the shareholders.
This sector niche they occupy will be explosive with growth for 5 to 10 years so it won't be very long before ICLD is Nasdaq bound again!
Thanks Maverick for the GREAT news on a Sunday! Our futures are bright!
Well, it's safe to say that their business sector is at the beginning of a 5 to 10 year tsunami of growth that will definitely bring them many new contracts for sure!
In order for businesses to stay competitive they will need what ICLD and others are providing.
As far as pumping the stock goes, there might be a point that companies can't put out a news release for every contract but at least we know now that there are new contracts happening and the next earnings report will tell all!
The next earnings report will be a game changer for sure! Stay tuned and loaded up with shares! The market will start giving more respect to InterCloud very soon!
Whatever is left has slowed down to a trickle it seems with share count at around 320 million.
I'm hoping they're about done and management has rearranged the upcoming debt to a different type or pushed it out to 2020 or so when they will be in a much better postion financially.
Ok. Thanks. I will try looking again too.
That's what pushing the $14 million debt maturity back would help with is not having to worry about dilution from that debt. It would definitely take the pressure off management and allow them to focus on growing ICLD right out of all the issues they have right now.
They've already said it will be handled before October so we are just waiting to see it in black and white to get things really rolling here!
Did anyone see anything about ICLD's lawsuit against Grant Thornton in the 10Q?
I'm really curious as to how soon ICLD could receive possible winnings from that suit.
Can you imagine when we get the news that the $14 million of debt maturity is pushed back to 2020 and ICLD can just focus on getting new contracts.
Munimi won't have any more ammunition for his short war!
No more BS comments about an r/s.
That day will be monumental!
Software-Defined Networking Market Expected to Reach 54.41 Billion USD by 2022
The Software-Defined Networking (SDN) and Network Functions Virtualization (NFV) market is expected to witness a potential growth in the years to come, due to the growing industry-advanced network infrastructure and consolidated data centers.
Seattle, WA -- (SBWIRE) -- 08/18/2017 -- According to a new market research report "Software-Defined Networking and Network Function Virtualization Market by Component (Solution (Software (Controller, and Application Software), Physical Appliances), and Service), End-User, and Region - Global forecast to 2022", published by MarketsandMarkets™, the global SDN and NFV market size is expected to grow from USD 3.68 Billion in 2017 to USD 54.41 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 71.4%. The major driving factors contributing to SDN and NFV growth include the increasing evolution and demand in mobility, the increased network complexity and varied traffic pattern, and the surge in demand for cloud service, data center consolidation, and server virtualization.
The telecommunication service providers segment is expected to be the fastest growing end-user for the global SDN and NFV market during the forecast period.
The increasing adoption of SDN and NFV technologies by telecom service providers has boosted the overall network capacity potential by delivering flexibility in bandwidth. SDN transforms the network to a more open and programmable framework by implementing a decoupled centralized control layer, which in turn, enables implementation of NFV that optimizes network resources. This in turn, reduces network congestions, enhances network user capacity (bandwidth requirement), and minimizes the cost associated with hardware requirement for network user expansions.
The manufacturing vertical is expected to show the fastest growth rate during the forecast period
In the current business scenario, the manufacturing vertical is completely IT-enabled and all the entities of a particular manufacturing unit are connected through a network. Manufacturing units across the world are rapidly adopting SDN solutions to better optimize their networks.
Read more: http://www.digitaljournal.com/pr/3454548#ixzz4q9jdjqyG
That's what I would bet!
I've witnessed that many times.
I guess he had no more points to make...
If he's been here 5 years he should have been reading the 10Q's, 10K's and 8K's which spell out what would transpire.
A competent investor would have seen what was coming by doing his due diligence...
I think this was a learning experience for him and now he's pissed because he lost his shirt because he was a newbie and didn't know how to play.
Sour grapes gives him a bad attitude. He should use this to his advantage for his future stock purchases!
Dvanajscak,
You talk as though management hasn't made any progress over the last year.
They have reduced debt, reduced company expenses and streamlined the business for maximum profit from here on out.
As I and others have posted multiple articles showing the future massive need of SDN and NFV the company will gain new contracts and grow their way out of all debt issues within 2 years.
There is no need to worry about money issues with a player in this sector because growth is the cure for any problems they have right now!
Now is the time to buy! Damn the torpedos! Full steam ahead!
Sounds like the noteholders are thinking they should wait until it goes up to a higher price so they can squeeze more out of each share they sell.
It would behoove them to do so...if they want their money quicker!
Interesting article.
It's crazy how long their attack can last. Sometimes for a year or more.
That just provides a cheaper entry for stubborn longs!
I'll have to thank these shorts after I'm rich!
Software Defined Networking (SDN) Market Worth USD 61 Billion by 2023 Growing at 39% CAGRBy
PR Rocket on August 17, 2017
Global Software Defined Networking Market, By Component (Solution, Services), By End User (Cloud Service Provider, Telecommunication Service Provider, Enterprises), Organization Size and By Vertical – Forecast 2023
Market Highlights
In this rapidly changing world of technology, software defined networking market is projected to show major growth prospects during the forecast period. Major factor driving the software defined networking market is the increasing adoption of software defined solutions in order to reduce network traffic congestions and enhance network user capacity.
The global Software Defined Networking Market, by geography, has been segmented into North America, Europe, Asia Pacific and Rest of the World. As compared to other regions, the software defined networking market in North America is expected to witness significant growth and hold the largest market share during the forecast period. U.S and Canada are anticipated to drive the growth of software defined networking market. This is owing to the presence of large number of established key players like Cisco Systems, Intel Corporation, IBM Corporation and Big Switch Networks in that region. In addition to this, the region also has a well-established infrastructure which allows higher penetration of devices and ultimately provides better connectivity. This is expected to be a major factor for the growth of software defined networking market. Growing adoption of software defined solutions and services is another major factor driving the growth of software defined networking market in the region. Growing demand for cloud based services and increasing demand for mobility and server virtualization are other factors driving the growth of software defined networking market in the region.
In the global software defined networking market, Asia Pacific is anticipated to witness relatively faster adoption and is expected to grow at the highest CAGR during the forecast period as compared to other regions. Within Asia Pacific, software defined networking market is projected to contribute faster to the growth of revenue backed by increasing number of data center deployments in the region. In terms of revenue, Japan is the major customer in the region whereas, China and Korea are the major research and development centers for SDN Market. In terms of revenue generation, Europe ranks second.
The Software Defined Networking Market is growing rapidly over 39% of CAGR and is expected to reach at approx. USD 61 Billion by the end of forecast period.
http://www.pressreleaserocket.net/software-defined-networking-sdn-market-worth-usd-61-billion-by-2023-growing-at-39-cagr/
The booming NFV and SDN market
Five software-defined networking market leaders
By Nathan Cranford on AUGUST 17, 2017
The network functions virtualization (NFV) and software-defined networking (SDN) market is expected to be worth approximately $54.41 billion by 2022 with a compound annual growth rate of 71.4%, according to a new report by MarketsandMarkets. Accompanying the report is a list of major vendors impacting the market. Those to make the top of the list included IBM, Cisco Systems, Hewlett Packard Enterprise, Juniper Networks and Huawei Technologies. Let’s take a closer look at the companies poised to head the NFV and SDN market.
http://www.rcrwireless.com/20170817/five-software-defined-networking-market-leaders-tag27-tag99
Which one will buy ICLD?
From page 21 of the 2Q report...
"The promissory notes accrue interest at a rate of 8% per annum, and all principal and interest accrued under the promissory notes is payable on October 9, 2017. The promissory notes are convertible into shares of the Company’s common stock at a conversion price equal to $25.48 per share. A portion of the principal amount of the promissory notes equal to 20% of the principal amount on the closing date were not convertible until January 9, 2016."
If the stock is at .02 a share, and the conversion price is $25.48, can and how does this go?
In its slow shift to software, network giant Cisco’s revenue falls again
16 AUGUST 2017
Cisco Systems Inc. marked another small step in its long slog toward becoming more of a software company with a seventh straight decline in quarterly revenue.
The world’s largest maker of network switches and routers that move data over a large chunk of the Internet and large corporate networks said today that it earned a fiscal fourth-quarter profit before certain costs such as stock compensation of $3.1 billion, or 61 cents a share, down from 63 cents a year ago. Revenue fell 4 percent, to $12.1 billion.
Cisco did report more progress on its transition from hardware sales to subscription revenues, as mostly subscription-driven deferred revenue rose 23 percent from a year ago, making up 12 percent of total revenue. That metric is closely watched for progress in Cisco’s journey to a software future.
“Seeing strong non-recurring revenue numbers is a positive indication of the transformation that Cisco has to undertake,” said Eric Hanselman, chief analyst at 451 Research. “More traction there would be useful, but this is solid progress.”
Chief Executive Chuck Robbins highlighted the recurring revenue, noting that subscriptions are now 51 percent of overall software revenue. But on he earnings conference call, he acknowledged Cisco’s challenges. “We’re working on a multiyear transition,” he said. “While I’m happy with our progress, it’s clear we have more to do.”
Like other traditional tech companies, Cisco has been struggling to contend with massive changes cloud computing is wreaking on the information technology industry. To contend with that shift, Cisco has been trying to restructure itself to focus on priority areas such as security, the Internet of Things, collaboration, next-generation data centers and cloud computing. But revenues of its core switching and routing businesses each fell 9 percent from a year ago, and the new businesses won’t make up the difference for years to come.
“What we’re seeing with the revenue declines is a trend we are seeing with most all enterprise companies,” said Patrick Moorhead, president and principal analyst at Moor Insights & Strategy. “Successful enterprise technology providers, for the most part, are all experiencing the same challenge: how to add ‘cloud-native’ revenue at a faster pace than declining ‘traditional enterprise’ revenue.”
Competition in Cisco’s own core networking business is also an issue. J.P. Morgan analysts said in a recent note to clients that rivals are likely taking share. Juniper Networks Inc. saw a 31 percent rise in revenue and Arista Networks Inc. a 51 percent jump in their most recent quarters.
Cisco has also bought companies to accelerate its move to software. In May, it announced plans to buy Viptela Inc., a five-year-old upstart rival maker of software to create companywide data networks without the cost of dedicated hardware, known as software-defined networking.
Analysts polled by FactSet had expected an adjusted profit of 61 cents a share, in the middle of Cisco’s own forecast of 60 to 62 cents. Wall Street had forecast $12.07 billion in revenue, close to the top of Cisco’s own forecast range of $11.88 billion to $12.13 billion. For the year, the experts expected a $2.38-a-share profit, a hair above $2.36 a year earlier, on a 2.7 percent drop in revenue, to $47.94 billion. Actual 2017 revenue came in at $48 billion, down 2 percent, and profit was $2.39 a share.
Despite Cisco’s results meeting or exceeding forecasts, the report didn’t thrill investors, and shares were falling more than 1.7 percent in after-hours trading. In regular trading, shares had crept up a little under 1 percent, to $32.34 a share.
In particular, it appeared that investors were hoping for better growth in Cisco’s relatively small security business, which includes network firewalls and breach detection products, because it’s one of the company’s key focus areas. Revenues rose 3 percent, to $558 million, short of the $580.5 million analysts had forecast.
“The security numbers are concerning and I understand the take that this is timing -elated, but this should be a quarter with much stronger performance, if you compare it to other security peers,” said Hanselman.
Revenue from Cisco’s switching business fell 9 percent to $3.44 billion. That missed analysts’ average estimate of $3.57 billion, Reuters reported, though that appeared to be partly customers waiting for a new switching system introduced in June to be available. But revenue in the wireless business, up 5 percent, and the data center business, down 4 percent, both topped analysts’ estimates, offsetting the security revenue shortfall.
During its financial analyst conference in June, Cisco said it expects annual revenue growth of only 1 to 3 percent over the next three to five years — way down from its former outlook of 3 to 6 percent. It confirmed that estimate today. It also said it expects an adjusted profit of 59 to 61 cents a share in the current quarter.
Although its software business is expected to grow by 12 to 15 percent a year, subscriptions are paid over multiple years, not in one big chunk like hardware-software bundles. That means subscriptions, even though they provide steadier revenue over time, depress near-term revenue growth — in Cisco’s case, to the tune of 2 to 3 percent, or $1 billion to $1.5 billion a year.
Cisco hasn’t given up on its hardware business by any means, but it’s trying to add in a subscription component as well. In a bid to recharge its declining core business, Cisco in June introduced a new edition of its network switching equipment, dubbed the Catalyst 9000, along with a new subscription plan for its services, both aimed at making it easier for customers to manage data on their corporate networks.
Robbins said on the earnings call that in the four weeks it has been available, more than 200 customers have ordered the 9000. He said a “large majority” of customers are adopting the advanced subscription option.
The company also is trying to move into more strategic applications. Although revenue increases in security and wireless were small, they’re still promising versus declines in Cisco’s other businesses, Moorhead said.[color=red][/color]
Yes. the CEO definitely wants back on the Naz ASAP.
The noteholders have given us a gift with these almost free shares!
I'm playing this long term and am not worried about what bumps, if any, come with the ride. I'm buckled up and not looking back!
Munro knows what it takes to get back to ICLD's former glory!
We had might as well take that ride with him...GLTY
$50+ Billion Software-Defined Networking and Network Function Virtualization Market 2017 - Global forecast to 2022
DUBLIN, August 16, 2017 /PRNewswire/ --
The "Software-Defined Networking and Network Function Virtualization Market by Component (Solution (Software (Controller, and Application Software), Physical Appliances), and Service), End-User, and Region - Global forecast to 2022" report has been added to Research and Markets' offering.
The Software-Defined Networking (SDN) and Network Functions Virtualization (NFV) market is expected to grow from USD 3.68 Billion in 2017 to USD 54.41 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 71.4%.
The main driving factors for the Software Defined Networking Market are the increasing evolution and demand in mobility, the increased network complexity and varied traffic pattern, and the surge in demand for cloud service, data center consolidation, and server virtualization.
The SDN and NFV is gaining prominence due to the growing technological advancements in networking and data center consolidation. SDN is a ground-breaking networking architecture, which is poised to entirely revolutionize the existing networking and data center infrastructure. The SDN architectural framework is set to redefine the networking infrastructure to meet the growing number of network users consuming a high bandwidth. With a decoupled control plane that can be complimented with various Artificial Intelligence (AI)-based software tools, a lucid improvisation to the traditionally distributed control plane is feasible, enabling an intelligent and efficient network.
The controllers provide a centralized interface to manage the complete network, whereas the application software enables the service providers to perform various functions, such as Virtual Private Networks (VPNs), Network Address Translation (NAT), load balancing, and security, at the service edge itself. It acts as a bridge between the physical infrastructure and software solutions.
http://www.prnewswire.com/news-releases/50-billion-software-defined-networking-and-network-function-virtualization-market-2017---global-forecast-to-2022-300505209.html
Software-Defined Networking and Network Functions Virtualization Market Worth 54.41 Billion USD by 2022
Published: Aug 8, 2017 12:31 p.m. ET
PUNE, India, Aug 08, 2017 (PR Newswire Europe via COMTEX) -- PUNE, India, August 8, 2017 /PRNewswire/ --
According to a new research report"Software-Defined Networking and Network Function Virtualization Market by Component (Solution (Software (Controller, and Application Software), Physical Appliances), and Service), End-User, and Region - Global forecast to 2022", published by MarketsandMarkets(TM), the global SDN and NFV market size is expected to grow from USD 3.68 Billion in 2017 to USD 54.41 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 71.4%.
Browse 65 Market Data Tables and 37 Figures spread through 137 Pages and in-depth TOC on "Software-Defined Networking and Network Function Virtualization Market" http://www.marketsandmarkets.com/Market-Reports/software-defined-networking-sdn-market-655 .html [http://www.marketsandmarkets.com/Market-Reports/software-defined-networking-sdn-market-655.html&utm_source=PRNewswires&utm_medium=Referral&utm_campaign=PRNewswires ]
Early buyers will receive 10% customization on reports
The global SDN and NFV market size is expected to grow from USD 3.68 Billion in 2017 to USD 54.41 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 71.4%.
The telecommunication service providers segment is expected to be the fastest growing end-user for the global SDN and NFV market during the forecast period
The increasing adoption of SDN and NFV technologies by telecom service providers has boosted the overall network capacity potential by delivering flexibility in bandwidth. SDN transforms the network to a more open and programmable framework by implementing a decoupled centralized control layer, which in turn, enables implementation of NFV that optimizes network resources. This in turn, reduces network congestions, enhances network user capacity (bandwidth requirement), and minimizes the cost associated with hardware requirement for network user expansions.
The manufacturing vertical is expected to show the fastest growth rate during the forecast period
In the current business scenario, the manufacturing vertical is completely IT-enabled and all the entities of a particular manufacturing unit are connected through a network. Manufacturing units across the world are rapidly adopting SDN solutions to better optimize their networks.
Asia Pacific (APAC) is expected to have the highest CAGR during the forecast period
The APAC region is poised for strong growth in terms of SDN and NFV deployments over the network. The main reason behind this growth is the increasing number of data center deployments coming up in this region. Japan is said to be the biggest customer in this region, in terms of SDN and NFV revenues, but the maximum research about SDN and NFV technologies is being done in China and Korea. APAC is set to displace Europe from its second position in the SDN and NFV market in terms of revenue generation. Moreover, North America being one of the most technologically-advanced region, there are continuous advancements in technologies as well as business applications, and that is the driving growth for adoption of SDN and NFV in the region.
The SDN and NFV market report includes the competitive landscape, which presents the positioning of 26 key SDN and NFV vendors, based on their product offerings and business strategies. Some of the major SDN and NFV vendors are Nokia Corporation (Finland), Cisco Systems, Inc. (US), Ericsson AB (Sweden), Huawei Technologies Co. Ltd. (China), Intel Corporation (US), International Business Machines Corporation (US), Hewlett Packard Enterprise Co. (US), Juniper Networks (US), NEC Corporation (Japan), Pica8 (US), Brocade Communications Systems, Inc. (US), Ciena Corporation (US), Intel Corporation (US), Pluribus Networks (US), and Big Switch Networks, Inc. (US).
http://www.marketwatch.com/story/software-defined-networking-and-network-functions-virtualization-market-worth-5441-billion-usd-by-2022-2017-08-08-12203316
InterCloud Systems Inc (OTCMKTS:ICLD)
InterCloud Systems Inc (OTCMKTS:ICLD) plunged 22.34% after reporting a second quarter net loss of $12 million compared to a net loss of $13.4 million reported last year. The selloff came after the company reported a 64% decrease in revenue. Tuesday’s sell-off pushed InterCloud Systems Inc (OTCMKTS:ICLD) stock near its 52-week lows. The stock continues to trade in a strong downtrend having tanked from its March highs of $0.34.
InterCloud Systems Inc. (OTCMKTS:ICLD) is a leading provider of cloud networking orchestration for Software Defined Networking and Networking Function Virtualization. The company offers a wide range of cloud solutions designed to help enterprises and service providers adopt an operational expense model on the cloud.
Chief executive, Mark Munro, has sought to dispel concerns about the second quarter net loss by reiterating they achieved a lot in the quarter. Liability reductions and strengthening of the balance sheet are some of the milestones that the executive expects to play a key role in the next phase of growth. Debt and expense reductions should enable the company achieve profitability going forward.
“We believe the steps we’ve taken over the past year have positioned the Company to capitalize on the immense opportunities in front of us and creates the necessary foundation for ongoing financial performance,” said Mr. Munro.
Revenue Decrease
Revenues in the second quarter came in at $8.1 million compared to revenue of $22.6 million reported in Q2 2016. InterCloud Systems Inc (OTCMKTS:ICLD) attributes the decrease to a reduction in revenue from subsidiaries disposed off this year. Gross profit margin dropped to 20% from 23% because of reduced margins in the company’s professional services segment.
A decrease in second quarter net loss was due to the extinguishment of $7.1 million debt also helped by a decrease in salaries and wages and SG&A expense of $4.5 million.
Separately, InterCloud Systems Inc. (OTCMKTS:ICLD) has confirmed that its CEO and Board member Mark Durfee have agreed to exchange $4.3 million of personal debt into equity. The two are now entitled to special voting rights in the company. The conversion demonstrates the two executive’s commitment to the company’s restructuring plan in addition to helping fix the balance sheet and increase shareholder equity.
http://stocknewsunion.com/tag/intercloud-systems/
Don't the preferred J shares give them 51% of the voting rights?
m1999,
Oh yes! We will be on the Nas by then and with whatever moves they have to make to get uplisted, we will be trading in double digit land somewhere!
This is why ICLD management is going through heck to make it past the debt issues and on to the bonanza waiting for them in the next few years!
Software-Defined Networking and Network Functions Virtualization Market Worth 54.41 Billion USD by 2022
Published: Aug 8, 2017 12:31 p.m. ET
PUNE, India, Aug 08, 2017 (PR Newswire Europe via COMTEX) -- PUNE, India, August 8, 2017 /PRNewswire/ --
According to a new research report"Software-Defined Networking and Network Function Virtualization Market by Component (Solution (Software (Controller, and Application Software), Physical Appliances), and Service), End-User, and Region - Global forecast to 2022", published by MarketsandMarkets(TM), the global SDN and NFV market size is expected to grow from USD 3.68 Billion in 2017 to USD 54.41 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 71.4%...
http://www.marketwatch.com/story/software-defined-networking-and-network-functions-virtualization-market-worth-5441-billion-usd-by-2022-2017-08-08-12203316
$35 billion with a "b" is a flipping big number!
Half a billion would be a nice piece of the pie for ICLD.
Say in 2 or 3 years...yep, that would make for a nice share price!
Mohammad,
It does seem like they could have given us more information up front about
uncounted revenues.
It's one more thing that makes going forward look better and better!
Our best days are just ahead of us with ICLD.