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Ticker is still on TD Ameritrade; those who sold at current prices made a mistake IMO. One hopes but no one knows when a reversal occurs; some entity likely holds a near-majority of the shares, and it will go up whenever they see fit.
Also see the silence as a positive; indicates the company is not sweating this rather remarkable drop in market cap after the reverse split one bit IMO.
Seems to be 3.5 million on the BID right now...Is this MM games or are there far more shares than 1.4 million?
BID ($1.30) and ASK ($1.50) have jumped up in pre-market. Could be a good sign.
Still expect stock to more than double from current price shortly. With decent news, $20 remains reasonable (as well as easy, given the low float). Am surprised if people think this is a safe short at these levels.
It is hard to imagine stock running for a while. Dominion is now allowed to short (as a hedge), for some reason, so the whole purpose of Dominion may have been to bring down share price to make it more enticing for lenders to convert to preferred shares.
Hopefully no reverse split until after preferred shares are converted.
3.4 million shares now (according to TD Ameritrade), and a market cap still under 1 million.
There's 2 million on BID right now, and 1 million on ASK.
Another big move seems ready to come soon -- hopefully upward.
The 4 million in financing was through convertible shares. They may have already been exercised (on Tuesday, when stock dropped another 50 percent), but there are definitely more than 1 million shares now. At points, there was more than 1 million on BID and ASK yesterday.
Aside from financing stuff, some news for the company has been okay. Am taking a gamble here too.
Have enjoyed your posts. Good luck and hope this one works out...
374 million on the bid?
From the last filing: "In connection with the sale of our common stock or interests therein, the selling stockholder may enter into hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the common stock in the course of hedging the positions they assume. The selling stockholder may also sell shares of our common stock short and deliver these securities to close out their short positions, or loan or pledge the common stock to broker-dealers that in turn may sell these securities."
90 million on the bid is definitely an interesting development.
It might be hard for this stock to move up when the traders it typically might attract are focused today on ship stocks.
ICLD becoming illiquid is an undesirable new twist.
from the revised October 11 filing re: the Dominion deal:
"The maximum number of shares of common stock that Company is entitled to put to the Investor in any one put notice is the lower of (i) up to $200,000 of shares of common stock and (ii) 200% multiplied by the average of the daily trading volume for ten (10) trading days immediately preceding the date of delivery of the applicable put notice. The purchase price with respect to any put shall be set at ninety percent (90%) multiplied by the lowest daily volume weighted average price (VWAP) of the common stock during the five (5) trading days immediately preceding the date of delivery of the applicable put notice."
But that refers to only part of the debt that was from the ex-CEO.There is more debt they were hoping to convert into preferred shares, and there's the complete question mark surrounding the Dominion "investment".
I think silence might be a sort of positive too -- but one never knows.
Shouldn't there have been an update on the rest of their convertible debt financing that was supposedly due by end of October? Seems like we should have received news of some sort -- good or bad -- by now.
His comment does suggest he is not heavily invested (if invested much at all) right now. Anyway, stock itself seemed ready to burst this morning but volume was missing. Perhaps later.
New article about Cisco-Google hybrid cloud partnership, published this morning: https://www.networkworld.com/article/3234886/hybrid-cloud/what-s-really-behind-the-cisco-google-cloud-partnership.html
Curious, if mgmt sees a bankruptcy coming, and if they are protecting themselves in advance, why are they bothering to attach positive spins to every press release (as they need not bother to convey any opinionated statements)?
.001 cent, not .01 cent. Enough trying to fix my typos. Will suffer or do okay in peace after this post.
Just as a correction to my post, tomorrow marks the 10th trading day after the Oct 11 financing revision was posted. I think it could be temporarily decent for the ticker after that.
Don't think the company will R/S before the stock is at least 1 cent, and think it will come after the rest of the bad debt is converted. Simply do not see the benefit to the company to take stock down to .01 cent. Dominion is already getting its shares at around .005 cents, and if it received that as an average, it would come to only 1 million dollars for all 200 million shares it could, at maximum, get. 200 million, at this point, is little less than a 1/3 of the company's shares but Dominion deal has already wiped over 40 percent of value from stock price.
While stock might not do any dramatic upward bounce for a while, it will be in a situation most likely where preferred shareholders will be able to control the majority of shares, and will be able to do as they more or less please with the PPS (should they choose to pump up and sell out, etc).
In other words, a bad company one may not want to invest in, but hardly a company that seems like a safe short either.
Just as a correction to my post, tomorrow marks the 10th trading day after the Oct 11 financing revision was posted. I think it could be temporarily decent for the ticker after that.
Don't think the company will R/S before the stock is at least 1 cent, and think it will come after the rest of the bad debt is converted. Simply do not see the benefit to the company to take stock down to .01 cent. Dominion is already getting its shares at around .005 cents, and if it received that as an average, it would come to only 1 million dollars for all 200 million shares it could, at maximum, get. 200 million, at this point, is little less than a 1/3 of the company's shares but Dominion deal has already wiped over 40 percent of value from stock price.
While stock might not do any dramatic upward bounce for a while, it will be in a situation most likely where preferred shareholders will be able to control the majority of shares, and will be able to do as they more or less please with the PPS (should they choose to pump up and sell out, etc).
In other words, a bad company one may not want to invest in, but hardly a company that seems like a safe short either.
This marks the 10th day of trading after the Oct 11 revision on the Dominion financing, where Dominion the "investor", gets discounted shares based on a 10-day average. If they remain present on Thursday and Friday, it suggests ICLD is going to complete that mysterious deal (they haven't explained what it's for, as yet, or the reason they needed to do it, etc) in a very speedy manner. If not, it suggests the stock might have an occasion to rebound a little.
The latest Dominion deal (started Oct 5? Oct 12?) has them getting shares based on 10 day averages. Expect some positive momentum during any period after they receive a new batch of shares. The first 25 percent of deal may get done this month (50 million new shares, for less than $500,000), and after that, they can get a max of 150,000 new shares or a max of $4,500,000 worth of shares (if I understand it correctly).
Dominion can receive up to 200 million shares (the max) or up to 5 million worth of shares. If its goal is to make more than simple pennies on the dollar, it won't simply push the stock down in one direction. I don't see a logical reason to do that which would benefit them, or ICLD.
With gambling stocks (and it's certainly fair to call ICLD that), it's hard to say the stock will always trade logically. If Dominion is not forced to immediately sell the discounted shares it buys from ICLD (as Kalani was), there's a shot they are accumulating as much as possible for as cheap as possible before the loans are restructured. Now how the loans could be restructured after the Oct 4/11 dilution plan is beyond me, but it's odd that CEO expressed confidence in such a restructuring in a published press release just 2 days prior to signing off on one of the worst garbage financings ever.
Perhaps of course he was just throwing investors more BS, but this is a company with a proposed settlement for deception on the books but not yet finalized. Why would a judge approve it if the company sets out to lie so readily in every press release leading up to it?
I do not think the intent was to knock the stock down 20 percent each day. That ICLD didn't even have the courtesy to do a press release trying to spin this garbage financing is pretty awful for any who might not be monitoring their portfolio on an hourly basis. That they seem less ethical than Economou/DRYS right now astounds me.
No need to think they are getting shares below market, as it's all in the financial info they posted on Oct 4th and 11th. They are getting the shares at 90 percent market value, and they're additionally discounted by whatever the lowest price of the stock is over a 10-day period.
As one who gambled and lost with the DRYS/KALANI massacre this year -- where DRYS at least got boats out of the deal; who knows what ICLD gets -- you end up getting a month of down days for every one pop. Plus lots of reverse splits.
This stock might be good for traders now -- and should be okay for swingtraders. It's definitely the wrong stock for longs. That said, it's so hard to sell for a huge loss when you think, any moment, it might jump 20 percent for little reason than to help speed up selling of stock.
Trading appears light enough that it might need to spike to attract enough investors/liquidity. Right now, it does not seem as if those dumping new shares onto the market have enough buyers. So maybe there's a thread of genuine hope for a temporary bounce.
Your posts are good, and seem genuine. The posts of the investor who discovered Netlayer.io (and who hesitated for a long time to buy any shares, then disappeared quickly) seemed to be comments from a genuine investor (or potential investor) too. I lost heavily elsewhere on get-rich-quick gambles, and am finally learning my lesson here. If I get another chance to play investor, and I may not (and I certainly don't deserve another opportunity), will focus on companies with good mgmt. Then, when a stock drops, you at least know that mgmt is trying to right the ship. I had a chance between ARLZ and ETRM, picked ETRM. Between ARLZ or SVRA and this, picked this. Have always had a tendency to go overweight on the crap stocks this year, as I was in desperate need for a big win (after losing all my winnings from previous year on the debacle that is Tethys Petroleum). Now just want to avoid bankruptcy and loss of family.
Things do get scary when people are trying to pump the idea of being diluted with non-assessable stocks (which are otherwise known as common stocks that are traded every day on the US stock market, as opposed to the $4.3 million in stocks Munro received in exchange for the debt owed him, which has not dropped a penny in value despite all the dilution of the last few months).
Why did the stock go up last March-April? Was there a real catalyst, or just a pump? Was the pump, if so, by the same investor involved in the most recent equity dilution? This looks a lot like the DRYS/Kalani nightmare right now, and empty bullish statements don't help one decide to hold or sell. Is there anything bullish on the horizon that people are waiting for? Are we all just waiting on a pump, or was there indeed a major event (millions of convertible debt supposedly due) that will force company into either a major positive or major negative event? I really did not have thousands to lose here, and I'm losing a thousand each day as of late. Have all the actual investors already departed?
Hopefully Grant Thornton settlement will come in time to serve as a boost to the stock. A search by "Grant Thornton" and "settlement" shows they definitely tend to settle, and that they had some troubles during the years of work in which ICLD is suing them. Among examples to be found online: https://www.law360.com/articles/457300/grant-thornton-to-pay-10m-in-winstar-fraud-settlement
Why wasn't there an "event" regarding all the convertible debt that was due this month (already)? The gamble resulting from this "catalyst" was that they'd re-finance, or be acquired, or that they would fail to refinance, fail to fulfill their obligations, and go under.
This gamble made the stock seem like a good risk-reward.
But if the deadline date has been brushed aside or ignored, where is the "reward" to a stock that's getting mercilessly diluted, where the company is making horrible equity deals at the current, already-depressed share price that don't appear to do anything for the company except hurt its stock value more?
Investment agreement not much different than DRYS, TOPS, or DCIX with Kalani IMO. So what if 30 months is stated; they can do it in a month if there's liquidity. Speaking as a long with 1.43 million shares -- disappointed.
Never mind, there's a cache of the APPStore (http://webcache.googleusercontent.com/search?q=cache:TbGxAFDxdIIJ:www.intercloudsys.com/icld-appstore/+&cd=1&hl=en&ct=clnk&gl=us) on Google, and it does not seem like anything new... Perhaps they're getting rid of it, etc.
"Appstore" appears to be a new feature to be added to their website's "Services" section: http://www.intercloudsys.com/appstore/
Nothing seems to be in folder as yet. Am hopeful it's part of some good news coming our way. Or news of any sort...
Perhaps some excessive optimism now -- speaking from someone with over 1.4 million shares.
If they are not any company's acquisition target, why? If they are going to fully dilute their way out of their senior debt that's due soon, why did they go that horrible route?
We are over-reliant on the trustworthiness of a mgmt that's been sued for deception to provide clarity and give us reasons to add to our investments that go beyond our mere gambling natures.
On the suit they settled at 3/4 the current market cap price of company, they denied wrongdoing but claimed to believe the settlement would be perhaps the best thing for shareholders. If that allows them to get acquired, I understand. If they are not getting acquired, how can it be a perceived positive? They are not exactly cash-rich.
Given the lucrative salaries of mgmt, and given their power/ability to have control over company's future, it's hard to imagine they will accept a buyout offer unless they personally profit big-time from it, or unless it's the only plan they have that does put them on the brink of bankruptcy. And since they seem to have other alternatives right now, such as mass dilution, I'm not betting on them getting acquired unless thos in mgmt already have a new job right around the corner. But if they mass-dilute and fail to renegotiate a single loan, the nice-to-dream 10 cent target might be reduced to a 2 cent target, which is not nearly high enough given all the risk that accompanies this stock.
Naturally maintaining hope, but a little disappointed that the ticker seems more like a roulette game right now. Sure hope they provide an update soon.
Truly a high risk, high reward play. The current market cap barely covers the settlement costs, so it's far from chump change, but if there's real value in their products, then there should be companies formalizing acquisition offers at this moment. IMO mgmt has to listen to such offers, and hopefully they would agree to them. Kicking the loans down the road via extensions is not the route to go, nor is this excessive dilution when stock is a penny.