IceWEB Restructures Financing Agreement With Sand Hill Finance

IceWEB, Inc. has restructured a long-standing financing agreement with Sand Hill Finance, LLC., entered into on December 19, 2005.

Details are on file with the SEC in a Form 8-K filed on September 10, 2012.

In the final amendment (Amendment #10), the interest rate on the principal amount was lowered from 21% to 12%, representing a savings for IceWEB of approximately 48%.

"We are grateful for Sand Hill’s assistance, and for their confidence in IceWEB. This is another example of the many core issues I am working on every day to improve our competitiveness as we continue our relentless march to success," stated Rob Howe, CEO.