InterCloud Systems Inc (OTCMKTS:ICLD), Which happens to be one of the top providers of cloud networking orchestration and automation solutions and services has today moved forward to announce the sale of its Training segment.
The provider’s training segment was providing professional services that targeted the network arena and training as well. In 2016, the asset had originally been acquired by InterCloud and that was for about $1.0 million in common stock.
According to terms and conditions of this particular asset sale, InterCloud was set to receive about $1.4 million in cash, elimination of approximately $215 thousand in net accrued liabilities not forgetting the additional working capital adjustment.
The CEO of InterCloud, Mark Munro while speaking to a number of top news reporters said, “The sale of this non-core business asset is a continued realignment of InterCloud’s business strategy and reduction of our outstanding liabilities. This sale enables InterCloud to focus on areas of growth and profitability; continue to improve our balance sheet and reduce the exposure to convertible debentures.”
A lot of the concerned parties have been posed a number of questions with most of them seeking to strike an understanding regarding the company’s take on the uplisting back to NASDAQ. Unfortunately, it has all been in vain after the top end provider declined to comment on whether or not it considered it a major priority uplisting back to the NASDAQ.
One thing that you can rest assured is the fact that the top end company actually has an interesting story to tell. The other question that a lot of people may be asking themselves at this point in time is exactly on the steps the company hoped to follow in a bid to achieve its latest priority. However, the one thing that anyone can count on is the fact that the provider is in quite some attractive space.
The growth rate trends are as a matter of fact remarkable and barring any breakthroughs or technological changes is not welcome at all for any company with a purpose and a sense of direction. InterCloud Systems Inc is at the moment laying down strategies that will see it climb higher the ladder of business success.
