Icoa Inc (ICOA)

[BigIbby]

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ICOA to Cancel 2nd Tranche of 1.3 Billion Shares Held by Related Parties
21 minutes ago - Close-up Media

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As of 3:59 PM ET 11/8/10
ICOA, Inc. said that it has completed the documentation for the cancellation of the second tranche of 1.3 billion shares held by related parties.

In a release, the Company said that following up on its previous announcement on October 7, to reduce the existing issued and outstanding shares by over sixty-five percent over the next quarter, it executed the second cancellation earlier than was originally anticipated.

The Company said that it has set a goal to complete the remaining reduction of the existing issued and outstanding shares by the end of November 2010 rather than the original deadline of December. The steps necessary to complete this are currently under way.

The company has taken steps to revise and update its website by November 15th.

The Company noted that it is also working on the completion of the financials of the previous years. Since there has been no reporting for several years, this effort may take several more weeks.

ICOA, Inc. is a national supplier of wireless and wired broadband Internet networks in high-traffic public locations.

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