(OTCMKTS:ICLD) Continues to Rally Higher Following Convertible Debt Reduction


Shares of InterCloud Systems, Inc (OTCMKTS:ICLD), a leading provider of cloud netowrking orchestaration and automation solutions, today closed up 20% at .0279, representing a combined gain of 132% from the low of .012 in late February. The beginning of the rally started on March 1st when the Company announced it will be reducing convertible debt through the sale of the High Wire Networks division for $4.0 million in cash.

The sale signifies the Company's new business strategy to reduce its exposure to convertible debentures and reduce outstanding liabilities. The Company stated in the press release that it continues to explore other non-core asset sales to further its efforts.

Founded in 2006, InterCloud Systems, Inc (OTCMKTS:ICLD) operates through four segments: applications and infrastructure, professional services, managed services, and cloud services. 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.





DISCLOSURE: The author has previously received compensation for the profiled company in this article. However, this particular article was not compensated for The views and opinions expressed in this article are those of the authors.. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. TheSultansofSwingTrading receives fees for producing and presenting the Content on this Site along with other media services.  
TAG