Icoa Inc (ICOA)

[mikeymgd]

I am not sure that's entirely accurate.

"Share Structure (http://www.otcmarkets.com/stock/ICOA/company-info)
Outstanding Shares: 5,387,363,273 as of Aug 31, 2010 4,500,000,000 is held by insiders and is restricted until 2013
Authorized Shares: 10,000,000,000 as of Sept 18, 2008
Float (shares): 887,213,273 as of Aug 31, 2010
"

"
As of 10-20-2010 there are 4,439,322,189 shares outstanding for ICOA with 10,000,000,000 shares authorized and 1,764,192,107 shares free trading and 2,675,130,082 shares restricted."

It appears both the OS and the float have been increasing.

As of Sept. 1st they have increased the OS from 5.387b to 5.939b
As of Sept. 1st the float went from 887m to 1.76b.
After the 1.5b reduction we are now at 4.4b were most expected to be at 3.88b.

It appears they are reducing the restricted shares held by insiders and at the same time increasing the float. Personally I have no problem with that as long as the net result is a reduction. But this does help to show why so many shares were for sale. The Company itself sold 800m shares to the street. Then again 800m increase followed by a 1.5b decrease means a net reduction of 700m. I am still happy at least the OS decreased.