Icoa Inc (ICOA)

[mikeymgd]

It is possible but potentially misleading at the same time.

They appear to be removing the legends on the restricted shares and that puts them into the float prior to cancellation. Of course that is how it appears but not necessarily fact.

The volume was not great enough to create the float you are stating. Last announced float was 1.7b. That would mean 3.2b shares were needed to cross the tape and we did not get enough volume for that.

Now if they moved the rest of the restricted into the common prior to cancellation then the float could reach that level. In fact based on current volume and the likely hood that most sells are company generated, I would expect nearly 1b added to the common share count.

The company is not forth coming on the OS so I am not sure were you came to that conclusion. Could you tell us who you spoke to for this information? I would like to make a call and see if I can get a better number then between 5-10 billion. That is a dramatic window. I have also called the T/A and they were clear that they do not discuss the OS so no luck there.