Icon Media Holdings, Inc. (ICNM) is a a non-operating holding company focused on achieving strong revenue growth and increasing shareholder value through a merger. Under the custodianship of Alpharidge Capital, LLC., the company plans to adjust its share structure, pivot its business model, and merge with a high-yield business. Over the past week, ICNM increased 99.8% in anticipation of the company becoming pink limited. Now, investors are speculating the company will be pink current by the end of the week. 


While ICNM is currently Pink limited, the company is in the process of becoming current with plans of completing a reverse merger with an operating company in Q1 of 2022. Even though ICNM remains restricted on some brokers due to the SEC’s rule 15c2-11, the company has assured investors that there will be an overnight update regarding its status once it is fully in compliance.

The company is in the process of filing for a share reduction and has already managed to reduce ICNM’s AS from 20 billion to 10 billion. As is typical of Frank Igwealor’s custodianships, ICNM intends to “go after the toxic and predatory lenders that have been milking the corporation” through dilution. With this goal in mind, ICNM has engaged legal counsel to review it’s shareholder list to identify outstanding shares “issued in certificate form that might possibly be eliminated”. This is to reduce the bloated AS as needed in the upcoming months.

As per its latest quarterly report, ICNM has solid plans to find a merger candidate. The company has indicated its interest in shifting towards blockchain multimedia technology, but a merger candidate and terms of transaction have not yet been determined. Nonetheless, Frank Igwealor’s past tickers such as JPX Global, Inc.’s (OTC: JPEX) have merged with profitable companies – a bullish sign that ICNM’s merger is in good hands.

Many investors see ICNM’s potential as a promising clean shell. As with all of Alpharidge’s tickers, ICNM has a clause guaranteeing there will not be any dilution or reverse splits for the next 2 years. Moreover, once its SS reduction is reflected on its OTC Markets profile and the company becomes current, investors can look forward to a merger announcement.

Media Sentiment

Some brokers are not able to trade ICNM but @MattRiv2 is right on the money when it comes to the influx of volume after becoming current.

Technical Analysis

Today, ICNM is trading at $.0014 and has a primary support at .0013 with a secondary support at .0012. The stock shows at resistance at .0016 as well. The RSI is near 60 which shows mounting interest and the MACD has had a bullish crossover. Meanwhile, accumulation has remained low after a major drop on November 12th.

Should you buy?

Investors are calling ICNM the cheapest “going pink current” stock. With more share reductions in the works and a merger on the line, ICNM is looking very promising. Investors are feeling bullish on this custodianship play as it potentially heads into the blockchain multi-media sector. Increasing 99.8% in the last 7 days, INCM could hit a penny or more after becoming current.


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