I disagree with your analysis. He did not pay only 116K for iceweb. He paid 116k and assumed 50 million of debt.
Make a search on Billy Carter and patent in google. Eric Spangenberg IPNav makes 25 million a year (read HAS PATENT. WILL SUE article on Google, the same article also mentions Billy Carter) and Billy Carter also works with Eric and probably makes good enough money to actually care about recovering his just 116K. He probably sees it as a cloud opportunity or something else and may have larger plans.
I think stock was either sold by MMs, one of the formal directors or by Iceweb/Carter (to keep the price low if they are either working on filing a patent lawsuit or regnotiate better terms for the existing debt). I don't know which one of these is applicable here.
Does anyone really think that the whole company was just sold for 116k ? Iceweb has a datacenter, KCNAP, real customers and has monthly recurring revenues. I don't think that the transaction was as simple as 116K. Rob will have to speak up soon as the current quarter is ending at the end of June. He will have to share the numbers for the quarter. We will get to know the truth.
RFB - Where are you ? What do you think of the current situation ?
-Ice
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