InterCloud Systems Inc. (ICLD)

[Gargantuan]

Not exactly. They way I read it is that the RS will happen before they hit 1bil shares. Then ICLD expects the higher price to trigger conversions. I know ICLD has a lot of convertible debt on the books so the question is how much dilution post-RS.

And given this debt, I'd expect the Wavetech valuation to be pretty high. Higher than what some people have suggested here. If their net revenues are even close to what they estimate in their road to IPO sheet (take it with a grain of salt), then they could wipe out ICLD's short-term debt and at least half of their long-term debt this year and then reap the benefits 2020 and onward. And there's whatever the hell Munro has been doing in the background to clean up debt. Otherwise, this whole merger thing is just a pipe dream and I don't see how SP could handle even more dilution after the RS and still make Nasdaq.