STERLING, VA -- (Marketwire) -- Sep 04, 2012 -- IceWEB, Inc.™ (OTCBB: IWEB), www.IceWEB.com, a leading provider of Unified Data Storage appliances for cloud and virtual environments, today announced that the Company's CEO, Rob Howe, purchased 1 million shares of the Company's common stock through an exercise.
Additionally, during the weeks since Howe's appointment, the Company has:
- pruned SG&A expenditures by more than 10%;
- created momentum on the sales front with existing and potential clients;
- revamped operations to create a more efficacious team;
- expanded development efforts to enhance present product offerings and create product dedicated to new markets; and
- explored and will attend industry conferences where the opportunity to showcase the technology will be abundant.
"The entire company is focused on moving forward on the sales, development and operating fronts. We all understand our clearly-defined roles, and we are 'heads down' every day making this company fulfill its promise. And, that promise involves keeping our shareholders updated regularly as we can release further details," stated Rob Howe.
My exercise of one million shares represents two very important things -- number one, we have put the difficulties of the past in our rear view, and number two, we're very optimistic about our future," Howe concluded.
About IceWEB, Inc.
Headquartered just outside of Washington, D.C., IceWEB manufactures award-winning, high performance unified data storage appliances 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. To become part of the Company's e-mail list for industry updates and press releases, please send an e-mail to Email Contact.
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.