Replies to post #33610 on InterCloud Systems Inc. (ICLD)

[Craig305]

Tks for posting the details in a manner that is easier to digest than Munimi's doom and gloom.

[shotsky]

In the most recent quarterly report:
Reverse Stock-Split
A 1:4 reverse stock-split of the Company’s common stock was approved by the Company’s stockholders on August 29, 2016 at the 2016 Annual Meeting of stockholders and by the Company’s board of directors in April 2017. The Company has requested the required regulatory approval from FINRA (Financial Industry Regulatory Authority) in order to effect the reverse stock-split. To date, the Company has not received the approval and the reverse stock-split has not been effected.
Also, by reading that quarterly report, you can get a pretty good picture of the debt, and the dilution that took place in 2017 so far.
All dollar amounts presented below are in thousands, except share and per share data.
 
In January 2017, we issued 500,000 shares of common stock to an investor relations firm for services provided. The shares were issued at fair value of $0.02 per share, per the terms of the agreement.
 

In January 2017, we issued 5,200,000 shares of common stock to employees and directors for services performed. The shared were issued at fair value of $0.02 per share, per the terms of the agreements.
 
In January 2017, we issued 22,510,372 shares of common stock to Dominion Capital LLC in satisfaction of notes payable and accrued interest aggregating $333. The shares were issued at an average fair value of $0.01 per share, per the terms of the agreements.
 
In January 2017, we issued 31,395,890 shares of common stock to Forward Investments, LLC in satisfaction of notes payable and accrued interest aggregating $291. The shares were issued at an average fair value of $0.02 per share, per the terms of the agreements.
 
In January 2017, we issued 17,145,048 shares of common stock to JGB Concord in satisfaction of notes payable and accrued interest aggregating $582. The shares were issued at an average fair value of $0.02 per share, per the terms of the agreements.
 
In February 2017, we issued 27,000,723 shares of common stock to Dominion Capital LLC in satisfaction of notes payable and accrued interest aggregating $357. The shares were issued at an average fair value of $0.01 per share, per the terms of the agreements.
 
In February 2017, we issued 47,525,408 shares of common stock to Forward Investments, LLC in satisfaction of notes payable aggregating $867. The shares were issued at an average fair value of $0.02 per share, per the terms of the agreements.
 
In February 2017, we issued 1,830,459 shares of common stock to Smithline in satisfaction of notes payable aggregating $23. The shares were issued at an average fair value of $0.01 per share, per the terms of the agreements.
 
In February 2017, we issued 3,118,534 shares of common stock to JGB Concord in satisfaction of notes payable and accrued interest aggregating $46. The shares were issued at an average fair value of $0.01 per share, per the terms of the agreements.

In March 2017, we issued 52,329,015 shares of common stock to Dominion Capital LLC in satisfaction of notes payable and accrued interest aggregating $528. The shares were issued at an average fair value of $0.01 per share, per the terms of the agreements.
 
In March 2017, we issued 83,039,391 shares of common stock to Forward Investments, LLC in satisfaction of notes payable and accrued interest aggregating $1,365. The shares were issued at an average fair value of $0.02 per share, per the terms of the agreements.
 
In March 2017, we issued 65,464,862 shares of common stock to JGB Concord in satisfaction of notes payable and accrued interest aggregating $616. The shares were issued at an average fair value of $0.01 per share, per the terms of the agreements.
 
In March 2017, we issued 21,580,444 shares of common stock to Smithline in satisfaction of notes payable aggregating $223. The shares were issued at an average fair value of $0.01 per share, per the terms of the agreements.
 
In March 2017, we issued 2,000,000 shares of common stock to MEF I, L.P. in satisfaction of notes payable and accrued interest aggregating $19. The shares were issued at an average fair value of $0.01 per share, per the terms of the agreements.

Obviously, all those shares went to lenders that turn around and sell the shares at a profit, while depressing the ICLD stock price. That is what we have to get through before things will actually turn around.