Shares of InterCloud Systems Inc(OTCMKTS:ICLD) have had a solid triple digit move in recent weeks, bouncing off 52week lows of .016 to today’s high of .034. If timed with perfection this recent surge in ICLD stock gave savvy traders the opportunity at 112% in profits. Today ICLD had just under 1,000 total trades with trading volume of over 55million shares changing hands nearly 7X the 30 day average volume.
It’s safe to say that with such a high demand in the overly increasing mobile markets, cloud computing will remain strong for years to come. Companies like ICLD are in the right place at the right time capitalizing on cloud technologies.
NEW YORK, Jan. 12, 2017 (GLOBE NEWSWIRE) — InterCloud Systems Inc(OTCMKTS:ICLD) a leading provider of cloud networking orchestration and automation solutions and services, today announced that it was recently awarded over $200,000 in new contracts to start the new year. A majority of the work is expected to begin immediately.
Mark Munro, CEO of InterCloud Systems stated: “We have seen higher volume in our stock as of late, as lenders exercise their rights to convert their debt into equity. The pressure on the stock from the conversions of debt into equity is not a reflection on the operations of the Company. As we have previously disclosed, the Company is working very aggressively to secure more conventional asset based financing to help reduce these conversions. We are also working on the sale of non-core assets to eliminate some of this convertible debt as well. We continue to have a positive outlook for 2017 and anticipate that a stronger balance sheet, reduced operating expenses and continued marketing of our more profitable products and services will produce improved shareholder value in the future.”
About InterCloud Systems, Inc.About InterCloud Systems, Inc.
InterCloud Systems, Inc. is a leading provider of cloud networking orchestration and automation, for Software Defined Networking (SDN) and Network Function Virtualization (NFV) cloud environments to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud’s cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing cloud deployment and management to InterCloud rather than the capital expense model that has dominated in recent decades in IT infrastructure management. Additional information regarding InterCloud may be found on InterCloud’s website at www.intercloudsys.com.
NEW YORK, Dec. 20, 2016 (GLOBE NEWSWIRE) — InterCloud Systems, Inc. (the “Company” or “InterCloud”) (OTCQB:ICLD), a leading provider of cloud networking orchestration and automation solutions and services, today announced that it was recently awarded approximately $600,000 in new contracts for professional and managed services in connection with next generation network services for new and existing customers. A majority of the work is expected to begin immediately.
Mark Munro, CEO of InterCloud Systems stated: “As we close out 2016, I would like to take this opportunity to reflect upon the last year and our outlook for 2017. From an operational perspective, 2016 showed increases in gross revenues after factoring in our February sale of our data storage assets. We have reported consistent annual revenue growth. Despite challenges, we continue to grow our core businesses.
Since the beginning of 2016, we set out to reduce our balance sheet liabilities and SG&A expenses. Some of our debt was reduced through the use of cash on hand and other debt was reduced through the issuance of our common stock. Overall, we reduced our balance sheet liabilities over the course of the last six months by over $20 Million. Simultaneous with our reduction of balance sheet debt, we also significantly reduced our SG&A expenses. With revenue growth, reduced debt and operating expenses, the Company is clearly on a path to profitability. We are determined to make this company more attractive to conventional financing opportunities to support our growth.
Certain lenders have been exercising their rights to convert their debt into equity. While this has steadfastly reduced our balance sheet liabilities, it has also put pressure on our stock price. We believe we can reduce these conversions with a refinancing or restructuring of such debt. We are working aggressively to secure this more conventional financing to help in that regard. We are also exploring the sale of non-core assets to eliminate some of this debt.
As one of the largest shareholders in InterCloud, I am deeply disappointed in our current share price. I do not believe that our share price accurately reflects the value of our Company, the achievements made to date and our future prospects. I am heavily invested in InterCloud, and am working diligently to rebuild shareholder value. In the near term, we expect to be a smaller, yet more profitable company. We plan to continue to market our industry leading cloud and automation platforms. We anticipate that a stronger balance sheet, reduced operating expenses and continued marketing of our more profitable products and services will produce improved shareholder value in the future.”
With ICLD recently coming off its 52week low and trading at a 1.3million dollar market cap we will likely continue to follow the story here on Street Register. Stay locked to the StreetRegister.com for updates, and we’ll deliver important developments as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and get subscribed!