Intelligent Cloud Resources Inc (OTCMKTS:ITLL) is a micro-cap stock in the cloud space that has recently started to garner some new attention as ITLL stock bounces up the chart. As far as catalysts, most recently, the company announced the appointment of Christopher Pay to a Board position and as a Director of the company. According to the release, Pay’s mandate is to ensure the company is recognized as a leader in the delivery and management of cloud-based mobile and web-based content and services, as well as to lead in the launch of the Fonia (Instant Access Mobile) product across multiple territories.
Traders will note 92% tacked on to share pricing for the listing in the past month, a bounce that has taken root amid largely bearish action over the larger time frame. That said, ITLL has a track record that includes a number of dramatic bounces. Furthermore, the company has witnessed a pop in interest, as transaction volume levels have recently pushed exceeding 560% beyond its prior sustained average level.
Intelligent Cloud Resources Inc (OTCMKTS:ITLL) frames itself as a development stage company focused on providing cloud enabler and cloud broker services primarily to small and medium-sized organizations in Canada.
It also focuses on building a private cloud for those enterprises that have security concerns for deploying their applications on a public cloud accessible to only those persons who work within their organization.
The company intends to offer its services in the areas of cloud migration, infrastructure management, VoIP solution on cloud, cloud management, application development, and cloud enablement. Intelligent Cloud Resources Inc. was founded in 2014 and is based in Mississauga, Canada.
According to company materials, “The Company has been aiming to offer cloud enabler and cloud broker services to small and medium-sized organizations in Canada and plans to expand to such organizations. The launch of the Fonia “All Access Mobile” platform will be a powerful consumer-oriented addition to Intelligent Cloud Resources’ product offering.”
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The ITLL story appears to be a story of rising legitimacy. The company’s build out on the board follows a recent push into filing and current status that preceded and gave rise to a uplisting as the company announced in late January that its common stock commenced trading on the OTCQB, the venture stage marketplace for companies that are current in their reporting with the Securities Exchange Commission.
According to the most recent release, Mr. Pay’s addition to the Board will help “shape the future of the (ITLL) program by accelerating the development of innovative products and services, leveraging valuable partnerships and relationships to ensure a compelling customer experience. Pay will also lead the launch of the Fonia (Instant Access Mobile) product into different territories with a focus on sales driven success.”
Fatima Khan, CEO of Intelligent Cloud Resources Inc. comments: “Christopher is a well-respected sales driven leader in the mobile and technology space and we are thrilled to have him join (ITLL). He has a strong track record in bringing products to market in both Europe as well as North and South America, coupled with a blend of strategy and execution. Christopher will play a pivotal role in helping build our brand and strengthen our position in the market.”
In terms of Mr. Pay’s background, the company’s materials go on to note that he has more than 25 years of technology and mobile experience. In addition, “Christopher has held Senior Global VP and CEO positions, and oversaw the growth of Fortune 100 companies like Pitney Bowes, to venture-backed start-ups like Benefon OYJ. He has also worked with well-known brands like Land Rover and Paramount Viacom.”
At this time, carrying a capital value in the market of $57M, ITLL has virtually no cash on the books, which compares with virtually no total current liabilities. ITLL is pulling in trailing 12-month revenues of just $900. However, the company is seeing recent declines on the top line on a sequential quarterly basis, with revenues falling at 0% as of its latest reporting period. You can bet we will update this one again as new information comes into view. For continuing coverage on shares of $ITLL stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!