Current State of IC Places
I feel we have turn a corner for the company. We just finished a name change, reverse stock split and new cusip number.
The reason for our reverse stock split Is laid out in the article in the link below...
T o keep your place on the OTCQB the stock price must close above 1 cent on the bid at least one day in th e 30 days before May 1st.. If the price never traded at the 1 cent you get bumped down and it cost $12,500. to apply and be re-listed to the OCTQB. We have now done that so we retain our listing.
Getting the company healthy is a major initiative. The reserve split was necessary to achieve this. Now that we passed this hurdle we can move forward to the next.
We have hired an attorney several weeks ago who has received permission from DTCC to allow us to file to have our DTC Chill removed. The DTC Chill stopped our stock from trading electronically. Because of this and the previous price many brokerage firms did not allow our stock to be purchased by their clients. Our attorney has never been unsuccessful in having a Chill lifted. The process will take a few more weeks. Once lifted, it could have a positive effect on how our stock trades.
I have personally hired a cybersquating attorney who is filing to turn over websites in my name and names associated with VU TV and the company to us. He also has never been unsuccessful in recovering sites built by cybersquaters. After I refused to pay the outrageous money to the man that holds and runs these websites he turned them all into attack sites. Having these all removed will be a benefit to the company. Over the past month we have been working on backing up and rebuilding our sites at our new hosting company BlueHost. The result we be much faster performance for o ur sites. Our sites have sat on the same servers for the last 7 years. Think about how slow a 7 year old computer is compared to one you would purchase today. As part of our new hosting package our sites will be collocated on servers in 20 locations around the world. This will create much faster load times as people will be directed to the server closest to them. We pulled the trigger tonight and began the public change. Over the next 24 hours there will be some tweaking required as the new servers go live. We feel the change in hosting providers will increases site speed once completed by 400%. The move has also saved the company $4,000.00 a year in hosting fees when compared to our previous hosting providers. So far tech and customer support with BlueHost has been incredible.
We have a new advertising partner for the icplaces.com websites to move that back into a revenue generating enterprise. We will fully announce the partnership after the new ad service is in place.
There is a great deal going on with Imagine TV which we will talk about as it progresses.
I learn something new every day and have learned so much from the journey of the last year. Hopefully I will be able to apply this knowledge and begin putting the company on the right track and turning it into a profitable entity.