IceWEB, Inc. (OTC:IWEB) share price bounced up yesterday although the company has not issued any news recently. Trading might be affected by some newly issued shares soon, however, as IWEB filed a registration statement with the SEC last month. 
IWEB closed the last trading session at $0.14 for a share, which is a resistance level for the stock price. It represents a 12% increase from the previous close, while the trading volume was also significant with over 798,400 traded shares. It looks like IWEB is bouncing up because it has reached a bottom at the end of last week.
IceWEB latest announcement came out on Jan. 25 when the company announced its new “IceTIMETM” Guarantee that would guarantee a setup time of five minutes or less for any of the company’s unified storage appliances. IWEB claims it is better than its larger competitors, but traders do not think the same way yet as shortly after that last PR the share price of the company’s stock was again falling down towards the 52-week bottom.
Also in January, IceWEB filed to the SEC a registration statement to register 63.8 million new shares of common stock. The amount includes 15.7 million shares issuable upon the conversion of senior convertible notes, as well as up to 48.1 million shares issuable upon the exercise of warrants. Both the notes and the warrants were issued in connection with the company’s private placement from last November.
