ICOP Bankrupt

Author: John Honovich, Published on Jan 21, 2011

US mobile DVR manufacturer ICOP has suspended operations and is seeking investments or perhaps an acquisition. At the end of December the company laid off its entire staff. The stock is still trading though it has been delisted from the Nasdaq. As on January 20th, the stock is trading at 37 cents per share with 2.7 Million shares outstanding (effective market value - about $1 Million USD). In the past year, the stock price fell over 90% from nearly $5 per share.

On January 21st, ICOP filed for Chapter 11 bankruptcy.

For background information on ICOP, view their product brochure and company/investor's overview as well as product/solution overview video.

ICOP's revenue peaked in 2007 at just under $12 Million USD dropping nearly 33% to about $8 Million in 2009. According to the bankruptcy filing, 2010 revenue was approximately $7.1 Million USD.

According to the 2010 10k, the average selling price for their ICOP Mobile 20/20W solution is $5,200 - a fairly price and complex mobile surveillance recorder/solution.

Two immediate questions are:

  • What should customers do for support?
  • What do you do if you want to buy ICOP / get its customer base?

We spoke with Investor Relations. They said to use the following email address: investorinfo@icop.com. This email is still active and being checked by ICOP executives. We have sent an email to this address and will share feedback if and when provided. We also called 3 phone numbers listed on ICOPs sites but all of them went to full voice mailboxes.

According to the filing, ICOP's bankruptcy attorney is Joanne B. Stutz of Evans Mullinix, (913) 962-8700, Email: jbs@evans-mullinix.com

Comments : PRO Members only. Login. or Join.

Related Reports on Failure

Four Major Outdoor Camera Install Problems on Jun 14, 2018
Over 140 integrators told us the top four camera installation mistakes that lead to unexpected problems and failures. Their comments often...
Stats: IP Camera Dead On Arrival (DOA) Decline, Near Zero on Jun 01, 2018
New IPVM integrator statistics show that IP camera DoA rates have declined with zero dead on arrival units for many integrators and effectively...
Stats: Upgrading Cameras Far More Common Than Replacing Failed Cameras on May 30, 2018
The old saying "If It Ain't Broke, Don't Fix It" does not apply here. New IPVM statistics show that 60% of cameras that are replaced still work but...
ADT Stock Drops 50% Since IPO on May 17, 2018
It has been a brutal 4 months for ADT. They first expected to IPO at ~$18. They IPOed at $14, dropping immediately to $12.39 And now, not even...
Arecont CEO And President Resign on Apr 18, 2018
This is good news for Arecont. Arecont's problems have been well known for years (e.g., most recently Worst Camera Manufacturers 2018 and starting...
Favorite Camera Manufacturers 2018 on Mar 12, 2018
A number of major moves in integrator's favorite camera rankings for 2018: Two manufacturers make major moves up One major manufacturer moves...
Top Video Surveillance Service Call Problems (Statistics) on Feb 28, 2018
In our most recent statistics series, over 150 integrators told IPVM the most common problem their customers have with their video systems....
Why 3VR Failed on Feb 16, 2018
3VR destroyed transformed ~$65 million in VC funding into a $6.9 million exit. The reason they failed is simple. They bet on analytics. They...
Cold Weather Dome Test on Jan 25, 2018
Cameras frequently cite super low-temperature specs, with -30° or even -40° common. But to see how popular dome models actually handle real world...
Assa August Smartlock Pro Tested on Nov 07, 2017
Failures and set backs in the smartlock business have been commonplace (e.g., Lockitron Admits Failure and issues from our 2017 Kevo test). But...

Most Recent Industry Reports

IFSEC Show Report Day 2 Report on Jun 20, 2018
IPVM is live from London reporting on the IFSEC show. The Chinese have taken over the UK, centered on Hikvision, flanked by Dahua, Huawei and a...
Mobotix Releases 'Move' Into 21st Century on Jun 20, 2018
For years, Mobotix stood resolutely against, well, every other manufacturer, selling it as a virtue: MOBOTIX equipment is designed with no...
Cybersecurity Startup VDOO Disclosing 10 Manufacturer Vulnerabilities Starting With Axis And Foscam on Jun 20, 2018
Cybersecurity startup VDOO has uncovered significant vulnerabilities in Axis cameras along with many others not yet disclosed. In this report, we...
July 2018 IP Networking Course on Jun 19, 2018
The last chance to save $50 on registration is this Thursday, June 21st. Register now and save. This is the only networking course designed...
Axis Guardian - Cloud VMS And Alarm Monitoring - Released on Jun 19, 2018
Axis has struggled to deliver a cloud-based managed service video platform. Video service providers have utilized AVHS for over a decade, and have...
IPVM Vulnerability Scanner Released on Jun 18, 2018
IPVM is proud to announce video surveillance's first and only cybersecurity vulnerability scanner. This tool allows quickly and simply...
Hikvision Corrects False Cybersecurity Announcement on Jun 18, 2018
Hikvision has corrected a false cybersecurity announcement that claimed a British government-sponsored program endorsed the cybersecurity of...
The Dumb Ones: PSA's Bozeman On Cybersecurity on Jun 15, 2018
The smart ones are the hundred people who flew to Denver and spent $500+ on a 1.5-day conference featuring Dahua as a 'cyber responsible partner',...
Amazon Ring Launches $10 Monthly Professional Alarm Monitoring on Jun 15, 2018
Amazon's Ring has announced an alarm system with 24/7 professional alarm monitoring for $10 per month, a fraction of the $30+ per month traditional...
Axis Releases First New Access Controller In 5 Years (A1601) on Jun 15, 2018
It has been 5 years since Axis 2013 entry in the physical access control market, with the A1001 (IPVM test). Now, Axis has released its second...

The world's leading video surveillance information source, IPVM provides the best reporting, testing and training for 10,000+ members globally. Dedicated to independent and objective information, we uniquely refuse any and all advertisements, sponsorship and consulting from manufacturers.

About | FAQ | Contact