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IceWEB Executives Purchase Additional Stock as a Sign of Continued Confidence in Company(July 02, 2012)
STERLING, VA -- (Marketwire) -- 07/02/12 -- In a sign of IceWEB's continued strength, IceWEB, Inc. (OTCBB: IWEB), www.IceWEB.com, a leading provider of Unified Data Storage appliances for cloud and virtual environments, today announced that senior executives have purchased additional shares of the company's stock.
Taking advantage of IceWEB's recent low stock price, IceWEB executives Hal Compton, Sr, Interim CEO, and Mark Lucky, CFO and Interim COO, purchased 160,000 shares of IceWEB common stock. As an added sign of confidence in IceWEB's ability to drive shareholder returns, Mr. Compton has agreed to serve as acting CEO without any cash compensation since assuming his position in the wake of the tragic death of IceWEB's former CEO John Signorello this past May, 2012.
"Since joining IceWEB's board in 2005, I've seen a company with tremendous potential make continuous progress in the pervasive and rapidly growing market for data storage solutions, especially in the past six months," said Hal Compton, Interim CEO at IceWEB. "Since increasing my involvement with IceWEB as CEO last month, my perspective of the company's current strength and potential has only grown stronger. IceWEB's senior management team is truly top-notch, supporting a robust product line in a market which traditional vendors have yet to address with their solutions. My recent accumulation of additional shares at relatively attractive pricing underscores my personal belief in IceWEB."
About IceWEB, Inc.
Headquartered just outside of Washington, D.C., IceWEB manufactures award-winning, high performance unified data storage products with enterprise storage management capabilities at a fraction of the price of traditional providers. Through thin provisioning, target deduplication and inline compression, IceWEB's unified storage arrays enable standardization, consolidation and optimized storage utilization for virtual and cloud environments, saving up to 90% of storage costs, while reducing space, power and cooling requirements and simplifying storage management. For more information please call 800-465-4637 or visit www.iceweb.com.
This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases you can identify those so-called "forward looking statements" by words such as "may," "will," "should," "expects," "plans," "targets," "believes," "anticipates," "estimates," "predicts," "potential," or "continue" or the negative of those words and other comparable words. These forward looking statements are subject to risks and uncertainties, product tests, commercialization risks, availability of financing and results of financing efforts that could cause actual results to differ materially from historical results or those anticipated. Further information regarding these and other risks is described from time to time in the Company's filings with the SEC, which are available on its website at: http://www.sec.gov. We assume no obligation to update or alter our forward-looking statements made in this release or in any periodic report filed by us under the Securities Exchange Act of 1934, as amended, or any other document, whether as a result of new information, future events or otherwise, except as otherwise required by applicable federal securities laws.
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Related Keywords: Unified Data Storage, Server Consolidation, Cloud storage, Thin Provisioning, Data deduplication , Storage, Cloud, Marketwire, Appliances, Other,