Icon Media Holdings, Inc. (OTCMKTS:ICNM) a diversified global technology firm that specializes in technical and wireless infrastructure services through Spectrum Velocity™ targeting the wireless industry, reported that the firm has obtained limited reporting authority/ capability that will permit company to commence filing material statements with the SEC.
While the audit procedure is continuing expeditiously, obtaining these codes will permit Icon Media the capability of informing the regulating bodies and investor community of material events. It will offer more transparency and it is one step forward on the way of becoming a fully reporting firm. Being a fully reporting firm will allow company to more aggressively implement its business strategy, as has been initially outlined.
Rob Deakin, the CEO of Icon Media, said that the ability to start limited reporting with the U.S. SEC is a positive measure taken forward by the firm. They continue to work hard to close the rest of the financial audits and be efficient to submit the Form-10 with the U.S. SEC to get fully reporting.
In unrelated news, Icon Media released a letter to shareholders from its Chairman and CEO, Rob Deakin. He said that FY2016 remains to be a transformative year for them. As previously reported, the firm established Spectrum Velocity with an objective of venturing into Wireless Infrastructure services market. Because of this choice, they have discontinued driving any additional resources in the direction of the ecommerce segment and have liquidated their legacy inventory.
Icon Media management is persuaded of this plan and feels like they are on a path to robust growth. With the awaiting move to 5G, the need for wireless carriers to improve the existing facilities and add new capacity and cells will increase in coming period. They are positioning the firm to cash on this opportunity.
A considerable part of their strategy is to get established, profitable, revenue generating firms in the wireless infrastructure industry that provide complimentary services. They are currently in advanced talks with two such firms.