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Is there any life in this party. Bring me up to date if you dont mind. Been gone since the RS was approved. Nothing seems to be going on except Mark moved to Florida I think.
I know the split was approved last fall, but was "tomorrow's split" announced or filed today? I normally get filing alerts, but nothing yet. Not paying attention cost me.
This was/is my main concern. No reduction in authorized shares meaning Munro could resume his distribution post split up to a billion shares again.
"The Reverse Split shall not affect the number of authorized shares of Common Stock or Preferred Stock of the Corporation or the par value per share of the Common Stock or Preferred Stock, such that immediately after the Reverse Split the total number of shares of all classes of capital stock that the Corporation is authorized to issue will be 1,050,000,000, of which 1,000,000,000 shall be Common Stock having a par value per share of $0.0001 and of which 50,000,000 shall be Preferred Stock having a par value per share of $0.0001."
End of year tax loss selling (mine alone >2,100,000 shares Thursday and Friday) is over now. We will see what the company can do with its new partnerships in 2018.
Did I miss a reduction of AS?
Dear Stockholders:
We are writing to advise you that stockholders of InterCloud Systems, Inc., a Delaware corporation (our “Company,” “we” or “us”), holding a majority of the voting rights of our common stock, par value $0.0001 per share (“Common Stock”) and our preferred stock, par value $0.0001 per share, voting together with the Common Stock on an as-converted basis, executed a written consent in lieu of a special meeting dated August 23, 2017 (the “Written Consent”), authorizing our board of directors (the“Board”) to take all steps necessary to effect, at any time prior to the one-year anniversary of the date of the Written Consent, an amendment to our Certificate of Incorporation to increase the number of authorized shares of Common Stock from 500,000,000 to 1,000,000,000.
The details of the foregoing actions and other important information are set forth in the accompanying Information Statement. The Board has unanimously approved the above actions.
No action is required by you to effectuate this action. The accompanying Information Statement is furnished only to inform our stockholders in accordance with Rule 14c-2 promulgated under the Exchange Act of the action described above before it takes effect. This letter is the notice required by Section 228 of the Delaware General Corporation Law.
WE ARE NOT ASKING YOU FOR A PROXY AND YOU ARE REQUESTED NOT TO SEND US A PROXY. THE ACCOMPANYING MATERIAL IS BEING SENT TO YOU FOR INFORMATION PURPOSES ONLY.
Please feel free to call us at (561) 988-1988 should you have any questions regarding the enclosed Information Statement.
For the Board of Directors of:
Date: September 5, 2017
INTERCLOUD SYSTEMS, INC.
By: /s/ Mark Munro
Can't prove this old theory I've been told since the 90's, but it has been said that if we all have GTC sell orders in at any high price, as long as the orders are in play, the brokers cannot loan our shares to the shorts. My sell order is in, everybody help dry up their supply by putting your shares up for sale.
Who did the 1.2 million
Call your broker to place the trade. Point out it is not your fault. Ask for the online commission.
GTC orders canceled by TDAmeritrade due to "anticipated reorganization". Must be symbol change tomorrow.
The CEO and CFO converted to preferred with special voting rights. Do you know what those rights might be? And I didn't quite understand the words "fundamental transaction" as the only cause of a common dilution. Have you heard that before? The letter did not contain the usual warning of their inability to accurately predict the future, so I take that as a real positive. The management's liability otherwise is enormous.
"reissue" or redistribute the 375 million shares restored to the company treasury by way of the RS. Doesn't matter to us who gets the shares, we get the shaft until/unless the company is able to become profitable. If investors are so eager to buy company-distributed newly-found treasury shares, why is the price going down? Demand is just not there. Munro is buying time.
Excellent overview. As someone else mentioned, the Company is conducting its investment operation in a manner strikingly similar to that of DRYS.
I stated too that this enabled the Company to "reissue" 375 million already authorized shares so no additional stockholder approval or SEC filing would be required. The relatively small amount of capital (under $12 million) that is produced buys a little time for a heavily leveraged concern but sure hurts its shareholders. The balance sheet I saw was not anything to be proud of.
That 4.8 million trade at close Friday added to the 8 million at close Thursday just about total the 9.9 percent holder's limit of 12.5 million post-split share allocation ..so maybe he's done. Time to run it up now!
I haven't seen the latest OS on TDA, still showing 487.4 million. Is the Company updating on their site? Where are the new figures please.
Don't you think he has bought/sold/redeemed his 12.5 million by now? I believe that all 375 million shares left after reverse are being distributed.
So the creditor can own 9.9% of the 500 million authorized shares. The reverse enable him to buy otherwise additional shares would have to have been authorized by shareholders.
Yes indeed! I bought more today and will keep on buying at these prices.
Thanks for the overview. I did see the Company had been selling shares to stay alive. Hopefully, they have a grip on matters now although the balance sheet looks really rough.
Thanks. I know the brokers will scoop up anything for their accounts. I don't want to sell at a loss, just questioning the post-split sales volume if many are awaiting internal adjustments. I expect ICLD to bottom and recover soon when the continuous supply source of shares tapers off.
The market makers end up buying and selling shares that have been entrusted to them or that they have accumulated to keep things flowing. If the Company pays that guy in CT who can't have more than 9.9% according to their filing, or any other creditor, stock to satisfy a debt or investment, that entity can then turn and sell can he not? The point is the amendment specified that the number of authorized shares would not be reduced in spite of the reverse split. So where else is the endless supply of shares being dealt out by the market makers coming from? Don't get me wrong, I am just trying to piece this fiasco together. Thanks
With this reverse split, they are able to recapitalize the 375 million shares restored to treasury without filing for new issuance or even notifying the SEC. We can't sell our pre-split shares, so the only seller in the market has to be the Company.
what were the authorized split parameters set in August? already 1 for 4. if reversed again would have to stay within compounded limits?
are everyone else's pre-spilt shares being held hostage like mine w/TDA?
375 million shares to capitalize now. VNDM is always one step ahead of ask.