InterCloud Systems Inc(OTCMKTS:ICLDD) is trading around the $0.02 mark after the Company affected a 1 for 4 reverse stock sñot on July 12. The stock got a recent boost after the Company announced it was recently awarded over $1.5 million in new contracts for professional services for new and existing customers. A majority of the work is expected to begin immediately. Over the past several months ICLD has annouinced well over $10 million in new contracts.
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. The stock saw a fast pop from $0.01 to $0.10 in March of this year.
InterCloud Systems Inc(OTCMKTS:ICLDD) 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 July 21 ICLDD announced it was recently awarded over $1.0 million in new contracts for professional services for new and existing customers. A majority of the work is expected to begin immediately.
Mark Munro, CEO of InterCloud Systems stated, “we are pleased with the continued flow of new business. I am personally, along with the Board of Directors and our management team committed to our continued restructuring. As we have previously reported, we continue to reduce debt, salaries and other SG&A expenses. Our near term goals continue to focus on growing revenue, fixing our balance sheet and becoming cash flow positive.”
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Currently trading at a $7.4 million market valuation ICLDD has exploded up the charts in recent months as revenues have skyrocketed due to the Company signing one million dollar contract after another. ICLD clearly has huge runner in its blood and is 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. We will be updating on ICLDD when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ICLDD.
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Disclosure: we hold no position in ICLDD either long or short and we have not been compensated for this article