glossy, ICQ is one of the weirder companies out there. 1....

glossy, ICQ is one of the weirder companies out there.

1. Patrick Groves is the Chair and NED of ICQ.
2. He is also the CEO, Chair and major shareholderof Catcha.
3. For years- since the ICQ share price was at least 6 times what it is now, Catcha (who is really Patrick) has been saying they want to off load their entire stake in ICQ, because it is bringing Catcha down. They have said this all over the internet- for years,leaving investors concerned of a share overhang or sudden sell-off. The bigger deal, of course, is that Patrick is the Chair of ICQ- why not just improve performance of ICQ, rather than sell the shares, becoming less valuable day by day? Or why not just hunt aroud privately, instead of splashing the intent all over the media?
4. Catcha (Groves)then decides to add another $5m from to the ICQ kitty- that is good! But why do so if they wish to sell down the other shares they had?
5. Patrick Groves is cute:

http://www.icarasia.com/wp-content/uploads/patrick-210x271.jpg

but I doubt he got where he is by cuteness alone. ICQ just got a stack of cash from the market. They have $30m, and whilst being nowhere near cash positive, there is only <$40m equity left in ICQ, and 27% of that is owned by Catcha. The rest of ICQ could be bought out for next to nothing.