InterCloud Systems, Inc. (OTC Pink: ICLD) offers cloud and managed services, professional consulting services and voice, data and optical solutions for corporate enterprises and service providers. On Thursday, July 5, 2018, shares jumped 47% through early trading. Over the past month, InterCloud Systems, Inc. saw an average daily volume of 1.9 million shares. However, on Thursday morning alone, already 2.5 million shares have traded hands, equating to over $140,000 in dollar volume.
Shares surged on Thursday after InterCloud Systems, Inc. announced two newly awarded contracts from Next-Gen Wi-Fi and DAS services with a combined worth of over $510,000. In addition, CEO Mark Munro expresses confidence in his team’s ability to continue to bring in new revenue opportunities especially in the SD-WAN platform. Here is the full press release, detailing the newly awarded contracts:
InterCloud Systems, Inc. Press Release:
SHREWSBURY, NJ, July 05, 2018 (GLOBE NEWSWIRE) — InterCloud Systems, Inc. (the “Company” or “InterCloud”) (OTC:ICLD), a leading provider of cloud networking orchestration and automation solutions and services, today announced that it was recently awarded over $510,000.00 in new contracts for Next-Gen Wi-Fi and DAS services for new and existing customers. A majority of the work is expected to begin over the summer and fall.
Mark Munro, CEO of InterCloud Systems stated, “Our professional services team continues to produce consistent revenue and earnings. We expect this team to continue to produce similar results throughout the second half of 2018. In addition, our SD-WAN team continues to develop new revenue opportunities within the Tier 2 and Tier 3 Service Provider segment. We have a pipeline of opportunities for the SD-WAN platform and we will continue to focus on these recurring revenue sales.
Mark Munro added “ With our operations streamlined and our senior debt service substantially reduced, we are now actively looking for strategic opportunities to restore some shareholder value. Those opportunities include potential mergers as well as additional divestitures”.
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 SD-WAN and related professional services. Additional information regarding InterCloud may be found on InterCloud’s website at www.intercloudsys.com.
Forward-looking statements:
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as “anticipate,” “appear,” “believe,” “could,” “estimate,” “expect,” “hope,” “indicate,” “intend,” “likely,” “may,” “might,” “plan,” “potential,” “project,” “seek,” “should,” “will,” “would,” and other variations or negative expressions of these terms, including statements related to expected market trends and the Company’s performance, are all “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.
