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IceWEB CFO, Mark Lucky, Discusses Recurring Revenue Stream From IceBOX Services

Stocks in this article: IWEB

IceWEB, Inc.- (OTCBB:IWEB), an award winning Unified Data Storage appliance provider for cloud and virtual environments and its innovative IceBOX highly secure, infinitely scalable Private Cloud solution as well as other Cloud Services , today announced comments made by the Company’s CFO, Mark Lucky, on new product offerings which address cloud security issues and the Company’s revenue model.

“Icebox is a new service offered by IceWEB that allows business, education and government organizations to utilize a private cloud to securely backup and share files within their organization. Icebox provides organizations with an enterprise-grade cloud collaboration solution that addresses the concerns that organizations have in using consumer-oriented technologies for business, by providing control over confidential or critical information, and providing for compliance and governance of proprietary information. It is the alternative to consumer-oriented products such as Dropbox that require data to be stored on 3 rd party servers. There are many companies out there that are looking to follow IBM’s lead in banning unsecure cloud collaboration tools in favor of offerings just like IceBOX” said Mark Lucky, IceWEB CFO.

“The Icebox product offering has created a paradigm shift in the way that IceWEB does business. The Icebox product uses a subscription model that creates a recurring revenue stream. This model complements our existing hardware business, as many of our Icebox customers also have data storage needs which require IceWEB data storage hardware appliances as a component of their data storage solution.”

“Not all revenue is created equal. The more predictable and steady that revenue is, the more valuable it becomes. As we add new customers we are creating an annuity of cash flow. This will allow us to allocate more of our limited resources to growing our business rather than on trying to acquire enough new or repeat business just to hit the same revenue level that we did in prior periods. This predictability of revenue lowers our risk profile, and we expect that this recurring revenue will become an increasing share of our overall revenue.”

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