The news I could not specify in my last blog entry of September 29th is now out and available for reading on the ICP Solar website. The transaction only officially closed a few minutes after I had posted my last blog, and so begins a new life where I must be extremely judicious in what I publicize and when, lest it be construed as unfair publicity of information which has not been properly shared with shareholders of ICP.
For those who don’t totally understand the event, ICP Solar, a company which has been privately held for over 18 years, is now a shared public entity, listed on the Nasdaq OTC exchange under symbol FCFN.OB. Anyone can now become a shareholder of ICP Solar as a result of this event.
Many wondered if I “knew what I was doing” in taking ICP Solar down the public path rather than having accepted numerous private equity offers received in past year. Frankly, in my mind, the public markets place a much higher value on solar entities than do private ones and our business plan is a very aggressive one which will change the nature of our group. Therefore, in my mind at least, it required a path which permitted us to have a new currency on which to trade, do business and be valued…public shares.
We have a great group of investors and a great team which will surely change/grow as a result of this liquidity event. To answer the question “was it the right move?”….ask me in a year’s time for a more definitive response. So far, the overwhelming emails from clients, vendors and other partners are an early indication that many are pleased (some surprised) at this event for ICP Solar.
Sass