Good afternoon,
Today’s alert on IWEB has given members the perfect finish to a very profitable week.
IWEB gained 25% within the
first 30 minutes of the morning and has since pulled back a fraction,
but still riding over 15% higher on the day.
Check out the very bullish daily chart on IWEB below.
We think with the great news IWEB released this morning (see below) and strong momentum, IWEB could move even higher into "power hour".
On a multi-day time frame, IWEB could very well test the upper band of the channel of around $0.05 as shown in the chart above.
So be sure to be watching IWEB closely the rest of the day today, tomorrow, and into next week.
All the best for the rest of the day!
PSG
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Good morning all,
I hope you read my piece on IWEB last night or this morning.
Guess what, things just got very interesting.
Just moments ago, IWEB announces some big news of a transaction that reduces the debt on the Company’s balance sheet and further strengthens IWEB‘s financial position.
What’s more, the financier that effecting bought IWEB‘s debt did so at a 38% premium to the current share price.
They obviously see a lot of value at IWEB‘s current pps.
Check it out…
Sand Hill Finance LLC Converts Remaining Balance of IceWEB, Inc. Convertible Debenture
Conversion Price at 38% Premium to Current Market Price
IceWEB, Inc. – (IWEB), an award-winning Unified Data Storage
appliance provider for cloud and virtual environments, as well as the
highly secure, scalable IceBOXTM BYOD (Bring Your Own Device)
Private Digital Cloud Solution, announced today that Sand Hill Finance,
LLC has converted the remaining principal balance of $1,642,739 due on
its secured convertible debenture into 37,000,000 shares of the common
stock of IceWEB, Inc. The conversion price was $0.0444 cents per share,
a 38% premium to the recent share price of IceWEB’s common stock. As a
result of the conversion, based on 392,817,360 common shares of IceWEB,
Inc. outstanding which includes the shares issued to Sand Hill Finance,
LLC, Sand Hill Finance, LLC holds 9.4% of the issued and outstanding
common shares of IceWEB, Inc. As part of the transaction, Sand Hill
Finance is releasing its security interest in the assets of IceWEB, Inc.
and terminating the financing agreement with the Company.
"Converting the Sand Hill Finance note to equity is a major achievement
for IceWEB, and has significantly strengthened our balance sheet and
improved our cash flow position. Sand Hill Finance has been a great
partner to us over the years, and their conversion of the debt at an
above-market price is a reflection of their confidence in the direction
of the Company," said Mark Lucky, Chief Financial Officer of IceWEB, Inc.
"We are confident in IceWEB’s management team and believe in their
vision for the company’s future," said Sand Hill Finance’s President,
Mark Cameron. "We believe now is the opportune time to convert our debt
to equity, fully aligning our interests with the company and its
shareholders."
Read the entire news release in full at http://finance.yahoo.com/news/sand-hill-finance-llc-converts-120000651.html
IWEB could be big today based on this news alone.
All the best in the markets today.
PSG
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Traders,
It’s time for another double / triple digit winner. Today’s play is in a great price range, is very liquid, and its chart is showing all signs of life.
Put IceWEB, Inc (IWEB) on your radar NOW as it could bounce very hard from these oversold levels.
IWEB has an interesting chart, having bounced around a little after make a strong run higher from 52 week lows of around $0.02.
Yesterday IWEB closed above its 50 day moving average and right above strong support of $0.03 – a level that we believe could IWEB could bounce off strongly today.
This is possibly the perfect risk/reward entry.
IceWEB (IWEB) manufactures award-winning, high
performance unified data storage products with enterprise storage
management capabilities at a fraction of the price of traditional
providers. How? Through thin provisioning, target deduplication and
inline compression, IWEB‘s unified storage arrays
enable standardization, consolidation and optimized storage utilization
for virtual and cloud environments, saving up to 90% of storage costs,
while reducing space, power and cooling requirements and simplifying
storage management. IWEB’s versatility enables customers to provision
storage and protect data based on application demand.
The Cloud Industry is HOT and is growing at a rapid rate…
According to leading industry analysts, IDC, Cloud-based applications
and services industry revenues are expected to reach $67 billion by
2016.
And even more exciting for IWEB is that IDC also expect
to see over $25 billion in acquisitions over the next 20 months as
cloud services become the core of many large Company’s offerings.
And IWEB, with their innovative Unified Data Storage Appliances and Solutions, is the perfect target.
And the Company has been making plenty of in roads with the Education
sector. This is a huge opportunity for the company, and we think the
public sector is a potential goldmine for IWEB.
Just last week the Company announced it had received an order for its
IceBOX BYOD implementation from an ACC University Athletic department,
further cementing IWEB‘s growing presence in the education sector.
This follows on from the exciting news that a large cloud services provider has purchased two of IWEB‘s
IceSTORM Data Storage appliances to be deployed in Denver and Seattle.
And here is some more recent news that IWEB has announced:
These are exciting times for IWEB, but we think it could be even more exciting for new IWEB shareholders who buy on this dip. For reasons we have already mentioned, we think the share price could rally big from here.
We hope you’ve done your homework and are ready for a potentially big multi-day bounce trade today.
The Team
PennyStockGeneral.com
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