Icoreconnect INC

Market Movers (8-K)

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iCoreConnect Inc. and its wholly-owned subsidiary, iCore Midco Inc., have filed voluntary petitions for Chapter 11 bankruptcy in Florida to restructure their balance sheets and optimize operations.
Worse than expected
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iCoreConnect Inc. has appointed CBIZ CPAs P.C. as its new independent registered public accounting firm for the fiscal year ending December 31, 2025, following the resignation of Marcum LLP due to an acquisition, while also disclosing a going concern warning and material weaknesses in internal controls.
Worse than expected
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iCoreConnect Inc. has announced that its previously issued financial statements for the quarter ended September 30, 2024, should no longer be relied upon due to errors in accounting for complex financial instruments and identified material weaknesses in internal controls.
Worse than expected
Delay expected
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iCoreConnect Inc. has received notification from Nasdaq that its common stock will be delisted due to the company's failure to timely file its Form 10-K for 2024 and Form 10-Q for Q1 2025.
Worse than expected
Delay expected
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iCoreConnect Inc. reaches a settlement agreement to prevent an auction of its assets by paying $3,099,747 by May 30, 2025.
Worse than expected
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iCoreConnect Inc. receives an extension from Nasdaq to meet listing requirements but faces a public reprimand and a potential asset auction due to a disputed debt.
Delay expected
Worse than expected

Quarterly Earnings (10-Q)

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iCoreConnect Inc. saw a significant revenue increase of 51% year-over-year in the third quarter of 2024, but also experienced a substantial widening of net losses.
Worse than expected
Capital raise
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iCoreConnect Inc. saw a significant revenue increase of 57% in the first half of 2024, but also experienced a substantial widening of net losses.
Worse than expected
Delay expected
Capital raise
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iCoreConnect Inc. saw a significant revenue increase of 48% in the first quarter of 2024, driven by organic growth and recent acquisitions, but also experienced a substantial net loss.
Worse than expected
Capital raise

Annual Reports (10-K)

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iCoreConnect Inc. reported a doubling of its net loss to over $31 million in 2024, faces Nasdaq delisting, and has substantial doubt about its ability to continue as a going concern, despite revenue growth.
Worse than expected
Delay expected
Capital raise
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iCoreConnect Inc. has filed an amendment to its annual report on Form 10-K to include previously omitted information regarding directors, executive officers, compensation, and related matters.
Delay expected
Capital raise
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iCoreConnect Inc.'s 10-K filing reveals a net loss of $15.9 million, material weaknesses in internal controls, and substantial doubt about the company's ability to continue as a going concern.
Worse than expected
Capital raise

Insider Trading (Form 4)

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Schonfeld Strategic Advisors LLC reports selling shares of iCoreConnect Inc. common stock across multiple transactions on April 28, 2025.
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Schonfeld Strategic Advisors LLC reports multiple transactions in iCoreConnect Inc. (ICCT) common stock, reflecting both acquisitions and disposals across several managed accounts.
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Archit Shah, CFO of iCoreConnect Inc., reports the acquisition and disposal of common stock on April 21, 2025.
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Director John Pasqual of iCoreConnect Inc. reports the acquisition and disposal of common stock on April 21, 2025.
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Robert P. McDermott, CEO of iCoreConnect Inc., reports the acquisition of 8,929 shares of common stock at $2.24 per share on April 21, 2025.
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Director Kevin McDermott reports acquisition and disposal of iCoreConnect Inc. common stock.

Proxy Statements (Def-14A)

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iCoreConnect is holding a special meeting of stockholders on September 16, 2024, to vote on five proposals related to the issuance of common stock to comply with Nasdaq Listing Rules.
Delay expected
Capital raise
Worse than expected
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iCoreConnect is holding its annual stockholder meeting on May 31, 2024, to vote on proposals including director elections, auditor ratification, stock plan amendments, and approval for share issuances related to convertible notes and preferred stock.
Capital raise

New Public Companies (S-1)

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iCoreConnect has filed a registration statement for the resale of up to 1,299,672 shares of its common stock by selling stockholders, including shares issuable upon conversion of convertible notes and shares related to an equity purchase agreement.
Capital raise
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iCoreConnect files an amendment to its Form S-1 registration statement to include an exhibit related to the opinion of ArentFox Schiff regarding the validity of shares for resale.
Capital raise
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iCoreConnect has filed a registration statement for the resale of up to 27.4 million shares of its common stock by selling stockholders, including shares issuable upon conversion of convertible notes and exercise of warrants.
Worse than expected
Capital raise
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iCoreConnect Inc. files an amendment to its S-1 registration statement, primarily to include an exhibit related to the legality of shares issuable upon conversion of convertible notes.
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iCoreConnect Inc. amends its February 2024 offering, increasing the offering size to $8.25 million and modifying amortization payment terms.
Capital raise
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ICoreConnect Inc. amends its February 2024 securities purchase agreements, increasing the offering size to $8.25 million and modifying amortization payment terms.
Capital raise

Schedule 13G - Passive Investments

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Periscope Capital Inc. and its affiliated fund, Periscope SPAC Warrant Opportunity Fund LP, have filed an amended Schedule 13G, disclosing their passive beneficial ownership in iCoreConnect Inc. at 4.8% and 2.1% respectively, as of March 31, 2025.
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Periscope Capital Inc. and its affiliate, Periscope SPAC Warrant Opportunity Fund LP, have reported beneficial ownership of 5.9% and 2.0% respectively, of iCoreConnect Inc.'s common stock as of December 31, 2024.