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Tuesday, January 25, 2022

Icoa Inc (OTCMKTS: ICOA) Powerful Reversal as FinTech Operator Cancels Shares, Settles Debt, Acquires iBG Finance & Looks to Close Acquisition of Asia Bitcoin Fund; BGBF

Icoa Inc (OTCMKTS: ICOA) is rocketing up the charts after a brief dip below a penny quickly emerging as a volume leader in small caps trading $4.5 million in dollar volume on Wednesday alone. Currently under heavy accumulation ICOA has quickly attracted some major players in small caps whoa are bidding the stock higher. ICOA has a huge investors following that is growing quickly and sees big things happening here. Microcapdaily reported on ICOA earlier this year before it ran to $0.0279 highs which is currently the price to beat. A break over and its blue skies ahead for ICOA. 

ICOA got a lot of attention earlier this year as the Company went “pink current” and stated its intention of going fully reporting OTCQB and becoming debt free. Management has been making big moves including cancelling 2.5 billion shares and settling 1.24 million in Debt. They also recently closed the mulit-million-dollar acquisition of IBG Finance and has an LOI to acquire BGBF, Asia’s first insured Bitcoin Denominated Fund, in a transaction valued at USD 240,000,000. 

ICOA, Inc. is a national provider of wireless and wired broadband Internet network support for broadband access installations in high-traffic locations across the United States including, quick-service restaurants, hotels and motels, travel plazas, marinas etc. ICOA is currently entering the DeFi, Blockchain, NFT and Crypto Space through multiple acquisitions. 

ICOA has been creeping up out of the triple zeroes all year but really took off in early August after the Company reported the start of the process of uploading disclosures and financial statements to OTCIQ.  

In October the Company closed the acquisition of iBG Finance, the World’s 1st and only insured DeFi project. The transaction is valued at USD 185,000,000. Launched in September of 2020, iBG is a Decentralized Finance (DeFi) wealth management platform designed to bring simplicity to users interested in entering the cryptocurrency and the DeFi market. iBG is equipped with the latest Robo Advisory technology to offer algorithm-driven recommendations. 

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ICOA

The iBG App is a smart yield aggregator platform, providing an intuitive user experience to make it easy for all users to benefit from their digital tokens/cryptocurrencies. The App is offered as a customized recommendation engine by simplifying user experience to provide non-tech savvy users a way to interact with various crypto and DeFi assets that are built on blockchains. In traditional finance and portfolio management, you can get obtain advice and use automated platforms to enrich your trading strategies. iBG takes these principles and applies them in the cryptocurrency markets with advanced Al technology solutions. 

The big news is the planned acquisition of BGBF, Asia’s first insured Bitcoin Denominated Fund, in a transaction valued at USD 240,000,000. The Fund provides Bitcoin exposure to investors, while offering insurance coverage & underwriting for public offering security insurance (POSI), striving to deliver safe and secured investment. Structured as a regulated and Central Bank compliant entity, BGBF’s technology offers both Hybrid and Centralized Finance as is targeted at accredited and institutional investors. 

The LOI executed by ICOA and BGBF outlines the terms of the transaction which is valued at USD 240 Million and anticipated to close within 30 days. As part of the acquisition, ICOA will be acquiring 100% of BGBF in return for restricted preferred shares of ICOA. 

On December 15 ICOA announced the settlement and write off of USD 1,757,277 of accrued convertible debt. As part of the ongoing reorganization of the Company’s structure and new business direction, ICOA’s management negotiated the settlement and write off of USD 1.76 Millions of accrued convertible debt. The Company had previously completed an agreement to write off its accrued debt and this last action finalizes the planned settlements the Company’s management was working on. Erwin Vahlsing Jr., Chief Financial Officer of ICOA, Inc. added “We have now completed the last of our planned initiatives to clean up the Company’s balance sheet. A debt free balance sheet is exactly the position we wanted ICOA to be in while gearing up into ICOA’s new direction.” 

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ICOA is rocketing up the charts after a brief dip below a penny quickly emerging as a volume leader in small caps trading $4.5 million in dollar volume on Wednesday alone. Currently under heavy accumulation ICOA has quickly attracted some major players in small caps whoa are bidding the stock higher. ICOA has a huge investors following that is growing quickly and sees big things happening here. Microcapdaily reported on ICOA earlier this year before it ran to $0.0279 highs which is currently the price to beat. A break over and its blue skies ahead for ICOA.  ICOA got a lot of attention earlier this year as the Company went “pink current” and stated its intention of going fully reporting OTCQB and becoming debt free. Management has been making big moves including cancelling 2.5 billion shares and settling 1.24 million in Debt. They also recently closed the mulit-million-dollar acquisition of IBG Finance and has an LOI to acquire BGBF, Asia’s first insured Bitcoin Denominated Fund, in a transaction valued at USD 240,000,000. We will be updating on ICOA so make sure you are subscribed to microcapdaily.com so you know what is going on with ICOA.

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Disclosure: we hold no position in ICOA either long or short and we have not been compensated for this article.

 

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