In regard to the DTC Chill.
Who is DTCC
DTCC is a public company that was established in 1973 to reduce costs and provide clearing and settlement efficiencies by immobilizing securities and making "book-entry" changes to ownership of the securities. They help put "new" stock certificates into the system.
There is no Chill on the purchase or sale of ICPA in the open market. DTC has not issued anything in regard to public trading of our company. There are on restrictions of any kind on the buying or selling of our shares.
DTC has places a temporary Chill on "new" stock certificates being deposited into brokerage accounts.
What does this mean?
These are the certificates held by me, the officers and directors of IC Places and about 100 people that have been with us since we first started trading in 2005. So, we can not currently take our shares, place them in a brokerage account and sell them. None of us really care about this because we have no interest in selling our shares now. As far as people with shares at firms and people looking to buy and sell in the open market there is no effect at all.
The net effect is no new shares can be added to the float. The current float can not increase right now. So all the people talking about insiders and officers like myself selling shares. (I heard some say we where dumping shares) We can not sell a single share right now even if we wanted to.
This must crush the lies about insiders being able to sell stock or we are about to dump shares.
Why has the Chill been put in place temporarily?
From January of 2011 till now we have added 486,608,896 shares to the float. Bringing us to the current issued and outstanding number of around 790,000,000. That's not the official number but it is someplace around there. 99% shares where issued to pay off debt that was used to fund our operations and growth and went through one company. We have all the required paperwork to support this and DTC has asked us to supply those legal opinions. Once reviewed they will remove the Chill on new shares deposited into brokerage accounts.
In summary
This is temporary and only effects the few of us that have all our shares sitting in stock certificate form. It has no effect on public markets what so ever or trading of our securities.
Bottom line is, until this is lifted we (the officers and a small group of long term insiders) can not sell shares if we wished to. Which BTW, none of us what to sell shares anyway. We have no need to sell shares.
