InterCloud Systems Inc(OTCMKTS:ICLD) has been racing up the charts in recent weeks on a massive surge of volume on huge press from the Company has they announce one valuable contract after another.
ICLD has LEGS of fire and a long history of making spectacular short term gains; a considerable short position has only created more volatility to the mix.
InterCloud Systems Inc(OTCMKTS:ICLD) is a single-source provider of end-to-end information technology (IT) and next-generation network solutions including Software Defined Networking (SDN) and Network Function Virtualization (NFV) to the telecommunications service provider (carrier) and corporate enterprise markets through cloud solutions and professional services. InterCloud offers cloud and managed services, professional consulting and staffing services, and infrastructure and applications to assist its customers in meeting their changing technology demands.
InterCloud’s cloud solutions offer enterprise and service-provider customers the opportunity to adopt an operational expense model by outsourcing to InterCloud rather than the capital expense model that has dominated in recent decades in IT infrastructure management.
The big news on ICLD is their announcement on May ss backlog is now at an all-time high of over $36 Million.
CEO Mark Munro said “Our backlog of business has been steadily growing over the past twelve months. A majority of this backlog is with fortune 100 companies and other large enterprises that continue to utilize our products and services. InterCloud’s growing backlog and sales pipeline certainly seems to co1 regarding an influx of new purchase orders and long term contracts across its business segments. New businentradict our stock’s performance. As we continue to gain industry acceptance, we believe investor confidence will follow.”
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He added “This growing backlog is a tribute to InterCloud’s ability to offer industry leading solutions and services. It is evident that these large customers have confidence in InterCloud and in our track record of successful delivery of solutions. Customers clearly have a choice of what firm to manage their Next generation IT and telecom networks and InterCloud remains a chosen vendor. We look forward to continued success with our clients throughout 2015 and beyond as the technology landscape continues to move to Software Defined Networks(SDN) and Network Function Virtualization (NFV) . InterCloud is well positioned to take advantage of these major shifts in the way technology is delivered and managed.”
On February 9 ICLD announced it was recently awarded over $400,000 in new contracts in the last three weeks. A majority of the work is expected to begin immediately.
Mark Munro, CEO of InterCloud Systems stated: “We continue to see higher trading volume and dilution in our stock as lenders exercise their rights to convert their debt into equity. These conversions and the corresponding dilution is outside of the Company’s control while the debt is outstanding. The Company is working very aggressively to finalize a conventional asset based financing solution to pay off a portion of the convertible debt and help reduce these conversions. We are also working to complete the sale of certain non-core assets to eliminate additional convertible debt as well.”
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Currently trading at a $1.5 million market valuation ICLD clearly has huge runner in its blood and it one to watch here. The Company is a single-source provider of end-to-end information technology (IT) and next-generation network solutions including Software Defined Networking (SDN) and Network Function Virtualization (NFV) to the telecommunications service provider (carrier) and corporate enterprise and they have been announcing one valuable contract after another. We will be updating on ICLD when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ICLD.
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Disclosure: we hold no position in ICLD either long or short and we have not been compensated for this article