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REPOST OF NEWS FROM 10/13/2010 ICOA Inc. is in the process of forming partnerships with privately owned Wi-Fi Service Providers and marketing service companies, to deliver a broad spectrum of Wi-Fi Services and disciplines in select market verticals. The partnerships will utilize ICOA's experienced Support and Customer Service Center combined with the award winning Operating Support System (OSS) "TollBooth™" platform. The intent is to provide strong creative entrepreneurs with the combined advantages of retaining local independence while enjoying the benefits of a publicly listed company.
A number of independent Wi-Fi Providers have already expressed their desire to be part of a future network which combines the advantages of a National Network relationship, while preserving the benefits of their independence. ICOA's management believes "a flexible ownership strategy provides such a partnership, allowing both parties to achieve their objectives while benefitting from collective growth."
ICOA's new acquisition model is based on a share-for-share agreement, usually starting with a minority position in the new partner. Cash is not immediately released; this potentially ensures a higher and more sustainable long-term profit. ICOA's Management says, "We are convinced that our improved strategy will enable us to expand the number of companies in our network and our revenue more rapidly than originally anticipated."
The key partners will become shareholders of ICOA as a listed company along with all other shareholders and will have a substantial incentive in promoting the success of ICOA, Inc. This long term financial incentive will further enhance and therefore drive the cooperation between the individual companies.
Successful partners will ultimately be merged into one of ICOA's subsidiaries with the goal of being spun out to ICOA's shareholders of record as separate independent public companies, while ICOA still maintains a shareholder position in the new entity.
ICOA, Inc is in negotiations with a number of funding groups to secure the necessary long term funding in order to execute on its new business growth strategy. Management believes any dilution from funding will be more than offset by the value of the shares issued to shareholders in the new companies being spun off as well as the potential increase of ICOA's share valuation due to increasing assets and potential combined revenue.
