WARWICK, R.I., April 27, 2011 /PRNewswire/ -- ICOA, Inc. (OTCPK:
ICOA) today announced that it has completed the documentation for
the cancellation of the third and final tranche of 1.675 billion
shares held by related parties. It will be effective by
April 29, 2011.
Following up on its previous announcements last December, to
reduce the existing issued and outstanding shares, the Company is
pleased to execute this third and final cancellation.
The Company is also working on completion of the financials of
the years 2009 and 2010. Since there has been no reporting
for several years, this effort has taken longer than it was
originally anticipated but each year as it is completed will be
posted on OTC Markets alternative reporting platform.
About ICOA
ICOA, Inc. (PINK SHEETS: 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 .
Safe Harbor:
This press release includes forward-looking statements related
to theglobe.com, inc. that involve risks and uncertainties,
including, but not limited to, risks and uncertainties relating to
integration of newly acquired businesses and assets, product
delivery, product launch dates, risks relating to the Internet,
development and protection of technology, the availability of
financing or other capital to fund its plans and operations, the
management of growth, market acceptance of our products, our
ability to compete successfully against established competitors
with greater resources, the uncertainty of future governmental
regulation (particularly as it pertains to the Internet), pending
litigation and other risks. These forward-looking statements are
made in reliance on the ``Safe Harbor'' provisions of the Private
Securities Litigation Reform Act of 1995. For further information
about these and other factors that could affect ICOA's future
results and business plans, please see the Company's filings with
the Securities and Exchange Commission, including in particular our
Annual Report on Form 10-K for the year ended December 31, 2005, and our Quarterly Report on
Form 10-Q for the quarter ended September
30, 2006. Copies of these filings are available online at
http://www.sec.gov. Prospective investors are cautioned that
forward-looking statements are not guarantees of performance.
Actual results may differ materially and adversely from management
expectations.
Contact:
ICOA, Inc.
investor@icoamail.com
www.icoacorp.com
SOURCE ICOA, Inc.