Someone has faked an acquisition deal, claiming that Google has purchased ICOA for $400 million. Luckily, both the ICEA CFO and Google have denied this acquisition fast. Whoever posted the press release was trying to scam us.
And it worked. ICOA’s shares jumped from a penny each to five cents, which could have made someone a lot of money. It’s sad to see someone make money by deceiving people and not providing anything useful.
ICOA hasn’t exactly been doing well as a business. They’re going through a restructuring, which caused the cancellation of 23% of their shares. While it’s no excuse for deceiving, it at least makes sense why someone would try to make money off of it as a last ditch effort.
Trading of ICOA has been frozen, and the whole mess has been publicly outed. Tell us your thoughts on the whole situation in the comments below, we’d love to know what you think. Try not to use too many derogatory terms.