UnifiedOnline Inc fka UOIP

[bliksam]

Has anyone read the statement of ownership dated April 2014?Iceweb authorized 400,000 shares of Preferred Series AA shares, convertible to so many common shares that UnifiedOnline! will own 90% of the common shares of Iceweb. The sole owner of UnifiedOnline! is William Carter, whose business is the "monetization of IP business". The statement says that the reason for the purchase of these preferred shares is to convert them into common shares and "exercise control over Iceweb". Recent board discussion has focused on Howe and some marginal increase in CTC revenue, but this transaction will so change the face of Iceweb, and so dilute the already value of existing shares that I can't figure out what is happening to this operation. Does anyone have any insight?