InterCloud Systems Inc. (ICLD)

[OShagHennessy]

Ok, Mark surprised me with this one...
Mark Munro, CEO of InterCloud Systems, stated, “This conversion of personal debt into equity is a further demonstration of my commitment, as well as the Board’s commitment, to InterCloud’s restructuring plan. Board Member Mark Durfee and I have loaned the Company approximately $4.3 million in cash during the past few years. We have decided to exchange this debt for preferred equity with special voting rights as part of our plan to fix our balance sheet and increase shareholder equity. Absent a fundamental transaction, this preferred equity will not dilute our shareholders but will have an immediate positive impact on our balance sheet.”