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Monday, November 26, 2012

ICOA CEO says never had acquisition talks with Google, (NASDAQ: GOOG)

The chief executive of wireless hotspot provider ICOA Inc said his company has never had acquisition talks with Google Inc and is contacting authorities about a "hoax" press release on Monday that said Google bought his company for $400 million."ICOA never had any discussions with any major company like Google," George Strouthopoulos, the company's chief executive and chairman, said in an email."Someone, I guess a stock promoter with a dubious interest, is disseminating wrong, false and misleading info in the PR circles," he said.Shares of ICOA, which is traded over-the-counter, jumped from .0001 cents to .0005 cents on Monday after a short, two-paragraph press release was circulated stating Google had bought the company. Shares of ICOA have since fallen back to .0001 cents.

Google Inc. (Google) is a global technology company focused on improving the ways people connect with information. Shares of GOOG fell by 1.02% or $-6.8199/share to $661.15. In the past year, the shares have traded as low as $556.52 and as high as $774.38. On average, 2867800 shares of GOOG exchange hands on a given day and today's volume is recorded at 2202301.