InterCloud Systems Inc (OTCMKTS:ICLDD)

InterCloud Systems Inc (OTCMKTS:ICLDD) Trims Debt Load

InterCloud Systems Inc (OTCMKTS:ICLDD)

InterCloud Systems Inc (OTCMKTS:ICLDD) was up by 8.25% in Wednesday’s trading session days after announcing that high ranking executives had agreed to convert personal debt into equity. The debt conversion actions of CEO, Mark Munro, and Board Member, Mark Durfee, are poised to trim the company’s debt by $4.3 million.

Restructuring Plan

According to the CEO, conversion of personal debt into equity demonstrates their commitment to the company’s long term prospects. InterCloud Systems Inc. (OTCMKTS:ICLDD) is currently undertaking an aggressive restructuring plan that seeks to reduce the overall debt. The company also plans to trim salary levels as well as selling, general, and administrative expenses

“We have decided to exchange this debt for preferred equity with special voting rights as part of our plan to fix our balance sheet and increase shareholder equity. Absent a fundamental transaction, this preferred equity will not dilute our shareholders but will have an immediate positive impact on our balance sheet,” said Mr. Munro.

InterCloud Systems Inc (OTCMKTS:ICLDD) bills itself as a leading provider of cloud networking orchestration and automation for Software Defined Networking. The company’s applications and infrastructure segment provides engineering and consulting services.

The professional services segment, on the other hand, provides services to the wireless and wire line industry. The company is fresh from inking a $1 million contract for the provision of professional services to new and existing customers.

 Corporate Highlights

Separately, InterCloud Systems Inc (OTCMKTS:ICLDD) has engaged the services of Saddler Gibb & Associates as its new auditing firm. The firm is to audit the company’s financial results for the period ending December 31, 2017.  The independent accounting firm replaces WithumSmith+Brown, PC following its dismissal by the board of directors.

InterCloud Systems Inc (OTCMKTS:ICLDD) reported revenues of $13,950 for the first three months of the year down from $17,629 reported the previous year. Operating expenses in the quarter rose to $10,663 from $7,956 reported in Q1 2016. Net loss in the quarter more than tripled to (-$14,237) from (-$4,323) reported last year. In addition, InterCloud Systems Inc (OTCMKTS:ICLDD) has completed a 1:4 reverse stock split of its common stock.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

InterCloud Systems Inc. (OTCMKTS:ICLDD)

InterCloud Systems Inc. (OTCMKTS:ICLDD) Unveils New Solution For Protecting Hospital Networks

InterCloud Systems Inc. (OTCMKTS:ICLDD)

InterCloud Systems Inc. (OTCMKTS:ICLDD) has launched a new machine-learning security forensics solution for healthcare networks and medical devices. Dubbed X-Barrier, the solution is designed to target network security vulnerability. The company’s stock was up by 5.59% in Friday’s trading session to end the week at $0.0359.

X-Barrier Solution Capabilities

InterCloud Systems Inc. (OTCMKTS:ICLDD) is a leading provider of cloud networking orchestration and automation for software-defined networking. The company’s solutions are designed to offer enterprise and service provider customers a way of adopting operational expense models by outsourcing cloud deployment. Its managed services segment provides hardware and software products to customers in addition to maintenance and support services.

The launch of the new healthcare solutions for patching vulnerabilities in the healthcare sector comes on the heels of the launch of NFVgrid SD-WAN solution for management of multi data center networks. X-Barrier development marks yet another milestone in the company’s push to expand its portfolio of network management and automation products for Next Gen Software Defined Networks.

X-Barrier leverages machine-learning and artificial intelligence capabilities to detect threats directed towards networks. According to InterCloud Systems Inc. (OTCMKTS:ICLDD), X-barrier uses non-deterministic algorithms to detect known and unknown threats. The solution does not need any pre-configuration to operate as it constantly adjusts its detection models.

“Our product provides an automated way to segment, survey and protects a healthcare facility and hospital campus not only from the outside threats but also from the internal networking objects already penetrated by hackers,” said InterCloud Systems Inc. (OTCMKTS:ICLDD) CEO, Mark Munro.

Marketing Push

X-Barrier is designed to prevent hackers from gaining access to hospital networks where they can gain access to various vital equipment such IV Pumps and ventilating machines. InterCloud Systems is currently in discussions with a number of resellers as it seeks to make the machine-learning solutions available to all hospitals across the U.S.

Combining X-Barrier and NFVgrid SD-WAN should help hospitals stay one step ahead of hackers. SD-WAN, for instance, is designed to provide a hard to duplicate machine-learning network analytic functions for receiving in-depth information about networking flow patterns. The two solutions are expected to strengthen the revenue streams for InterCloud Systems Inc. (OTCMKTS:ICLDD) as the company moves to market.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $ICLDD and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.