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ICOA, INC. ISSUES COMPANY OVERVIEW

 ICOA, INC. ISSUES COMPANY OVERVIEW
 WARWICK, R.I., June 16 /PRNewswire/ -- The following is a company


overview provided by management of ICOA, Inc.: The Company
 ICOA, Inc. (NASDAQ/Bulletin Board: ICOA), is an emerging growth company in the public fax communications and information field whose objective is to pursue a technology/management/strategy, forming partnerships in the fax industry to create a global telefax network. This pursuit, with the endorsement of the American Facsimile Association, has the respect and admiration of major organizations throughout the country. Combined with the extensive experience and capabilities of key management, this strategy provides a strong and unique foundation to capitalize on one of the most rapidly growing areas in fax, the public fax industry.
 ICOA's subsidiary, GoFax, Inc. markets the Automated Facsimile Machine (AFM), the state-of-the-art, credit-card operated public facsimile and telephone unit. With GoFax contracts for over 3,000 prime locations throughout the country, including airports, courthouses, libraries, office buildings, malls and bank ATM lobbies, the GoFax investor or owner/operator has a true ground-floor advantage for substantial growth. GoFax also offers value-added services that make the AFM a full-service business center. Sophisticated network capabilities enable customers to purchase confidential fax mailboxes, use multiple sending capabilities or send several recipients in one transaction and, in addition, faxing with "no busy signals." GoFax is currently testing database information services that will be available from GoFax AFM terminals. Services such as the Official Airline Guide and Wall Street stock reports will be available for access at the swipe of a credit card. Accessing information from the ICOA/GoFax AFM will provide the company with significant added revenues. At A Glance:
 ICOA, Inc.
 190 Commerce Drive
 Warwick, RI 02886
 Tel: 401-737-3250
 Fax: 401-739-9215
 CUSIP NUMBER 449 292 20 0
 Shares Outstanding 7,054,171
 Public Float 1,750,000
 Percent Owned
 by Insiders 48 pct
 Long-term Debt -- None
 52-week Price Range
 Bid - $0.0625 - 0.625
 Ask - $0.31 - 1.12
 Current Stock Price
 Bid - $0.0625 - Ask - $0.31
 Contract sales, 1991 $1.2 million
 Contract sales,
 5 months, 1992 (annualized) $2.1 million
 Market-Makers
 Emanuel and Co., Paragon Securities
 Management
 George Strouthopoulos - chairman of the board, president
 Gary V. Finck - director, executive vice president
 -0- 6/16/92
 /CONTACT: Gary V. Finck of ICOA, 401-737-3250/
 (ICOA) CO: ICOA, Inc. ST: Rhode Island IN: SU:


CN-SH -- NE004 -- 0529 06/16/92 09:31 EDT
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Publication:PR Newswire
Date:Jun 16, 1992
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