Company research
iCoreConnect Inc.
CIK 1906133Updated Sep 27, 2026
SecurityICCT · OTC · equity
Name history
FG Merger Corp. · through Aug 31, 2023
ICCT price & chart
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OTC:ICCT on TradingView ↗About the company
We are a cloud-based software and technology company focused on increasing workflow productivity and customer profitability through our enterprise platform of applications and services.
In the news
No coverage from other publishers is available.
Recent filings
Bankruptcy or Receivership · Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
Items 1.03, 2.03
Changes in Registrant's Certifying Accountant
Items 4.01, 9.01
10-K filing
Non-Reliance on Previously Issued Financial Statements or a Related Audit Report
Items 4.02
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing
Items 3.01
Show 5 more recent filings
Financials
FY 2024 · USDSource
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balance sheet · annual statements
| Line item | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 5,691,041Source | 15,686,504Source | 84,440,130Source | — |
| Property, Plant and Equipment, NetUSD | 173,611Source | 202,421Source | 74,194Source | — |
| GoodwillUSD | 1,484,966Source | 1,484,966Source | — | — |
| Intangible Assets, Net (Excluding Goodwill)USD | 1,484,966Source | — | — | — |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 202,177Source | 1,219,358Source | 521,865Source | — |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 814,061Source | 563,905Source | — | — |
| Assets, CurrentUSD | 1,183,238Source | 3,508,325Source | 745,557Source | — |
| Prepaid Expense and Other Assets, CurrentUSD | 167,000Source | 1,725,062Source | — | — |
| Operating Lease, Right-of-Use AssetUSD | 871,167Source | 1,122,412Source | — | — |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 15,486,015Source | 11,242,336Source | 684,928Source | 3,272Source |
| Commitments and ContingenciesUSD | 0Source | 0Source | — | — |
| Stockholders’ equity: | ||||
| Preferred Stock, Value, IssuedUSD | 82Source | 376Source | — | — |
| Common Stock, Value, IssuedUSD | 207Source | 1,007Source | 211Source | — |
| Additional Paid in CapitalUSD | 138,445,178Source | 119,481,543Source | 189,479Source | — |
| Retained Earnings (Accumulated Deficit)USD | -148,240,441Source | -115,038,758Source | -129,061Source | -3,272Source |
| Stockholders' Equity Attributable to ParentUSD | -9,794,974Source | 4,444,168Source | 60,629Source | -3,272Source |
| Liabilities and EquityUSD | 5,691,041Source | 15,686,504Source | 84,440,130Source | — |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 12,434,882Source | 8,876,310Source | 684,928Source | 3,272Source |
| Operating Lease, Liability, CurrentUSD | 299,284Source | 241,945Source | — | — |
| Accounts Payable, CurrentUSD | — | — | 299,955Source | 3,272Source |
| Operating Lease, Liability, NoncurrentUSD | 639,769Source | 945,889Source | — | — |
| Additional Financial Items | ||||
| Long-term Debt, Excluding Current MaturitiesUSD | — | 1,420,137Source | — | — |
| Long-term Debt, Current MaturitiesUSD | 5,352,256Source | 4,720,455Source | — | — |
| Long-term Debt, Excluding Current MaturitiesUSD | 1,823,474Source | 1,420,137Source | — | — |
cash flow · annual statements
| Line item | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | -33,201,683Source | -15,551,663Source | -125,789Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | — | — | — |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 7,134,163Source | 1,942,036Source | — |
| Changes in operating assets and liabilities: | |||
| Increase (Decrease) in Accounts ReceivableUSD | 436,334Source | 307,716Source | — |
| Increase (Decrease) in Accounts PayableUSD | — | — | 296,683Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | -3,230,688Source | -8,824,972Source | 332,175Source |
| Cash flows from investing activities: | |||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | 370,000Source | — | — |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -539,416Source | -10,214,715Source | -83,694,573Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 0Source | — | — |
| Cash flows from financing activities: | |||
| Net Cash Provided by (Used in) Financing ActivitiesUSD | 2,752,923Source | 20,062,892Source | 83,884,263Source |
| Payments of Ordinary Dividends, Common StockUSD | 0Source | — | — |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | — | 1,023,205Source | 521,865Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 202,177Source | 1,219,358Source | 521,865Source |
| Supplemental disclosure of cash flow information: | |||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 224,237Source | 18,750Source | — |
| Additional Financial Items | |||
| Amortization of Intangible AssetsUSD | 2,975,628Source | 1,257,534Source | — |
| DepreciationUSD | 26,957Source | 17,429Source | — |
| Derivative, Gain (Loss) on Derivative, NetUSD | -2,562,027Source | — | — |
| Financing Interest ExpenseUSD | 1,835,077Source | 1,287,916Source | — |
| Gain (Loss) on Disposition of Assets for Financial Service OperationsUSD | 980,197Source | -13,778Source | — |
| General and Administrative ExpenseUSD | 20,754,205Source | 15,124,081Source | 922,230Source |
| GoodwillUSD | 1,484,966Source | 1,484,966Source | — |
| Impairment of Intangible Assets, Finite-livedUSD | 6,631,862Source | 105,676Source | — |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | -12,504,225Source | — | — |
| Income Tax Expense (Benefit)USD | — | — | 215,000Source |
| Net Income (Loss) Attributable to ParentUSD | -31,156,817Source | -15,920,362Source | -122,062Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | -33,201,683Source | -15,920,362Source | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -33,201,683Source | — | -125,789Source |
| Nonoperating Income (Expense)USD | — | -5,275,061Source | 1,182,073Source |
| Operating ExpensesUSD | 23,756,790Source | 16,399,044Source | — |
| Other Nonoperating Income (Expense)USD | -15,650,007Source | — | — |
| Payments for Repurchase of WarrantsUSD | — | 0Source | — |
| Proceeds from Issuance of Common StockUSD | 303,619Source | 2,881,024Source | 25,000Source |
| Proceeds from Stock Options ExercisedUSD | — | 0Source | — |
| Unrealized Gain (Loss) on InvestmentsUSD | — | — | 1,182,073Source |
income statement · annual statements
| Line item | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| Total RevenueUSD | 10,746,466Source | 8,151,587Source | — |
| Cost of RevenueUSD | 2,496,486Source | 2,029,145Source | — |
| Operating Income (Loss)USD | -15,506,810Source | -10,276,602Source | -1,092,862Source |
| Other Nonoperating Income (Expense)USD | -15,650,007Source | — | — |
| Income Tax Expense (Benefit)USD | — | — | 215,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | -33,201,683Source | -15,920,362Source | — |
| Net Income (Loss) Attributable to ParentUSD | -31,156,817Source | -15,920,362Source | -122,062Source |
| Earnings Per Share, DilutedUSD per share | -45.78Source | — | — |
| Weighted Average Number of Shares Outstanding, Basicshares | — | 7,349,541Source | — |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 725,183Source | — | — |
| Additional Financial Items | |||
| Amortization of Intangible AssetsUSD | 2,975,628Source | 1,257,534Source | — |
| Depreciation, Depletion and Amortization, NonproductionUSD | 3,002,585Source | 1,274,963Source | — |
| Financing Interest ExpenseUSD | 1,835,077Source | 1,287,916Source | — |
| General and Administrative ExpenseUSD | 20,754,205Source | 15,124,081Source | 922,230Source |
| Gross ProfitUSD | 8,249,980Source | 6,122,442Source | — |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to ParentUSD | -12,504,225Source | — | — |
| Interest ExpenseUSD | 1,428,459Source | 1,109,388Source | — |
| Marketing and Advertising ExpenseUSD | 747,023Source | — | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -33,201,683Source | — | -125,789Source |
| Nonoperating Income (Expense)USD | — | -5,275,061Source | 1,182,073Source |
| Operating ExpensesUSD | 23,756,790Source | 16,399,044Source | — |
| Other ExpensesUSD | 439,622Source | 459,965Source | — |
Offerings
Registration 333-284794
Underwriters: Sponsor
Filing attachments
icct_ex107.htm · S-1 · 2025-02-10
EX-FILING FEES 4 icct_ex107.htm FEE TABLE icct_ex107.htm EXHIBIT 107 Calculation of Filing Fee Tables FORM S-1 (Form Type) ICORECONNECT INC. (Exact Name of Registrant as Specified in its Charter) Table 1: Newly Registered and Carry Forward Securities Security Type Security Fee Calculation Amount Proposed Maximum Maximum Fee Rate Amount of …
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