George called back, i got so much info
I dont even know where to begin.
However i will start with the bad to get it over with;
The share structures listed online are not accurate, however they are not very far off. He told me he is working diligently with a financial team to release financials. Once that is completed he will release the stocks share information. He said the numbers may be slightly different but is not expecting anything surprising. But it is likely that not all of the restricted listed are truly restricted (ICOA still holds more than half, which are restricted) so we could be looking at a pretty big float here (3b~ max)
I asked him about the share PR after hearing this and he reported they would be retiring shares from the both restricted and the float, and for the reasons he had just discussed with me (paragraph above)
On the bright side;
The company still maintains a lot of contracts, or has recently reacquired contracts, from a number of its companies. They are also working with other wireless service providers to intiate support contracts with them for additional revenues. The support company is NOT ICOA, but is a wholly owned subsidiary, and there are quite a few under the umbrella that is ICOA(good news!).
They still support STOP and SHOP, Starbucks and Giant foodstore locations all over the country as well as a few others. They are still maintaining a revenue which is starting to improve, and he had high hopes for the next 3 months in regards to the current situation. He admitted the company was in a tough state currently and he is prioritizing the company image, especially for investors.
He was extremely polite, and easy to talk to. He answered my questions and then continues to answer more before i even asked. He told me a lot of investors have been contacting him asking him about the float, and about if they are releasing more shares etc. He told me he has been with them 20 years (easily googled info) and they have not performed any dilution or any other reverse splits other than the one earlier this year. He also said he is not going to be doing any dilution or more RS's and they are currently stable enough to move forward with the operation.
He really went on and on, and honestly i cant even think of everything he told me. But i can tell you he is not your typical jerky ceo. He was very down to earth, and i could hear the emotion and i could tell he was very optimistic about the future in ICOA.
I will be holding the shares i have left after speaking with him and have a lot more hope here than i did earlier today! Ill post other info in the future or reply to questions here if i have the info.
