RALEIGH, NC - (NewMediaWire) - September 30, 2015 - Icon Media Holdings, Inc. (OTC PINK: ICNM), a diversified global technology company that specializes in technical services for the cellular and wireless industries, provides the following letter to shareholders from Rob Deakin, Chairman and CEO.
To our shareholders:
2015 continues to be a transformative year for Icon. As previously announced, the Company formed Spectrum Velocity with the purpose of entering the expanding Wireless Infrastructure services industry. As we have been developing this business and analyzed the industry we realized that the opportunities for growth and success in this business segment are greater than we originally forecasted, and will be less capital intensive. Therefore, we have made a calculated decision to put 100% focus on this segment of our business.
As a result of this decision, we have discontinued putting any additional resources towards the e-commerce business. We continue to generate revenue from this business in the short term, however, as we will continue to sell off the remaining inventory.
The world will never be the same again since the invention of the Smartphones, the iPads and the Applications that operate on them.
With the focus solely on the Wireless Infrastructure services industry, we have taken the following additional steps to build the business:
- We have assembled a very strong and experienced management team with over 100 years combined experience in the wireless, telecommunications and broadcast industries. We will continue to search for talented, dedicated team members that can help us execute our business.
- We moved into new office space that is more conducive for growing our business. This move has also resulted in a reduction of our overhead by approximately 59%.
- Strategic Business partnerships -- we have formed cross selling and marketing partnerships with some established and respected companies within the industry. We will continue to actively search to forge additional relationships that offer complimentary and strategic services to ours.
- Clean up balance sheet -- re-negotiated some of the debt and converted other portions. We have also begun selling some of the unused warehouse equipment and other long-lived assets.
- Part of our plan is to acquire established revenue generating profitable companies that are in the wireless infrastructure space. We have had discussions with several and are in advanced negotiations with 3.
We sincerely thank you for your continued support and we look forward to what lies ahead of us. Our success will be due to our employees, our supportive shareholders, our Board of Directors and our Strategic Advisors. We have a number of exciting opportunities on the horizon and I look forward to announcing these in the near future. Our team is hard at work doing a phenomenal job for you, our shareholders, and our customers. We are grateful for their talent and commitment.
Chairman & CEO
Icon Media Holdings, Inc.
About Icon Media Holdings, Inc. (ICNM)
Icon Media Holdings (OTC PINK: ICNM) is a diversified global technology company that specializes in technical and infrastructure services for the cellular and wireless industries. The Company provides turnkey small cell network, distributed antenna systems ("DAS") and Wi-Fi technical consulting, design and implementation services through its subsidiary Spectrum Velocity®. Our customer base includes the wireless industry as well as enterprise clients.
Forward-Looking Statements & Disclaimers:
The information in this Press Release includes certain "forward-looking" statements within the meaning of the Safe Harbor provisions of Federal Securities Laws, as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this document, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Investors are cautioned that such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including the future financial performance of the Company. Although the Company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.