Per 10K:
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On April 23, 2014, we entered into a Subscription Agreement with UnifiedOnline! LLC (the “Subscriber”), a Delaware limited liability company, pursuant to which the Subscriber purchased 400,000 shares of Series AA Preferred Stock. In consideration for the Shares, Subscriber paid $116,087 to various vendors and obtained the agreement of a certain related party lessor to temporarily forbear exercising non-payment default remedies. Since entering into the Subscription Agreement, the Subscriber has advanced $664,578 bearing interest at 10% per annum to fund general working capital.
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Above shows that the new owner Billy Carter did put in 664,578 of his own money into ICEWEB with 10% per year interest rate. I think it is much better to finance the operations then getting money from third parties with much higher conditions ( they are already trying to get rid of note holders who have been selling shares on every positive news in previous quarters and keeping the price down).
Also above shows that the new owner didn't buy iceweb only for 116,087 but he also assumed the responsibility of all loans (and he is putting additional money on easy terms).
Folks the next 10Q is due on Nov. 15th which will cover July, Aug. and Sept. It should be better as the existing 10K covered previous 9 months from June 30th which included all the turmoil in the company and reorg.
I am quite happy and it seems that it is a matter of time that they will release news and we will see a movement in the stock price.
