ICOA, Inc. Cancels 1.3 Billion of Its Issued and Outstanding Shares
Oct. 18, 2010 (Marketwire) --
WARWICK, RI -- (Marketwire) -- 10/18/10 -- ICOA, Inc. (PINKSHEETS: ICOA) today announced that it has executed the cancellation of 1.3 billion shares held by related parties.
Following up on its previous announcement on October 7, 2010, to reduce the existing issued and outstanding shares by over sixty five percent over the next quarter, the Company is pleased to execute the first cancellation earlier than was originally anticipated.
The Company has set a goal to complete the remaining reduction of the existing issued and outstanding shares by the end of November 2010 rather than the original deadline of December. The steps necessary to complete this are currently under way.
The Company is also working on the completion of the financials of the previous years. Since there has been no reporting for several years, this effort may take several more weeks.
About ICOA
ICOA, Inc. (PINKSHEETS: ICOA) is a national provider of wireless and wired broadband Internet networks in high-traffic public locations. ICOA provides design, installation, operation, maintenance and management of WI-FI hot-spot and hot-zone Internet access. Based in Warwick, Rhode Island, ICOA owns or operates broadband access installations in high-traffic locations across 40 states, located in airports, quick-service restaurants, hotels and motels, travel plazas, marinas etc. ICOA networks are compatible with widely-used 802.11x technology and with virtually all Internet service providers. Further information is at www.icoacorp.com.
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