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Advanced Technology: IceWeb Receives $400,000 Of Orders

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May 19, 2010 (FinancialWire) — IceWeb, Inc. (OTCBB: IWEB), a provider of unified data storage and building blocks for cloud storage networks, said it has received orders totaling more than $400,000 in one day.

IceWeb said that the revenue was generated by multiple partners and is scheduled to ship in the current quarter.  

John R. Signorello, CEO of IceWeb, stated, "Our channel partners are gaining momentum, which is beginning to translate into revenue.”

He added that the company’s goal is to build out its intellectual property, grow its worldwide channel sales program and increase revenue to achieve an annual run rate of $25 million by the end of fiscal 2011.

Virginia-based IceWeb manufactures and markets data storage products, network and cloud storage solutions and delivers on-line cloud computing application services.

The firm’s customer base includes U.S. government agencies, enterprise companies, and small to medium sized businesses.

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