Private company
iCoreConnect Inc.
American prepackaged software services company, incorporated in Delaware. Summary from the record
Last updated Oct 19, 2026.
Overview
- IndustryServices-Prepackaged Software1
- HeadquartersOcoee, Florida1
- Incorporated inDE2
- Business address529 E. Crown Point Road, Suite 250, Ocoee, Fl 347612
- Filer category, Emerging growth company2
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On January 5, 2023, the Company entered into a Merger Agreement and Plan of Reorganization (the “Merger Agreement”), by and among the Company, iCoreConnect, Inc.., a Nevada corporation (“Old iCore”), and FG Merger Sub Inc., a Nevada corporation and a direct, wholly-owned subsidiary of the Company (“Merger Sub”). The Merger Agreement provided that, among other things, at the closing (the “Closing”) of the transactions contemplated by the Merger Agreement, Merger Sub will merge with and into Old iCore (the “Merger”), with Old iCore surviving as a wholly-owned subsidiary of the Company. In connection with the Merger, the Company changed its name from FG Merger Corp. to “iCoreConnect Inc.” The Merger and the other transactions contemplated by the Merger Agreement are hereinafter referred to as the “Business Combination.” On August 25, 2023, Old iCore and FGMC consummated the Business Combina…3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2024
Where the money goes
Where each dollar of revenue went, fiscal 2024
- Cost of revenue23¢$2.5M
- Other costs63¢$6.8M
- Interest13¢$1.4M
Out of $10.7M in revenue.4 The company lost money this year.
Financial statements
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Revenue | $8.0M5 | $8.2M4 | $10.7M4 | ||
| Cost of revenue | $2.2M5 | $2.0M4 | $2.5M4 | ||
| Gross profit | $5.7M5 | $6.1M4 | $8.2M4 | ||
| Operating expenses | $10.5M5 | $16.4M4 | $23.8M4 | ||
| Operating income | -$1.8K6 | -$4.8M5 | -$10.3M4 | -$15.5M4 | |
| Interest | $785.4K5 | $1.1M4 | $1.4M4 | ||
| Income tax | $215.0K6 | ||||
| Net income | -$1.8K6 | -$6.1M5 | -$15.6M4 | -$31.2M4 | |
| Earnings per share (diluted) | -$43.324 | -$45.784 | |||
| Shares (weighted, basic) | 5.8M shares5 | 7.3M shares5 | |||
| Shares (weighted, diluted) | 367.5K shares4 | 725.2K shares4 |
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Cash | $71.8K5 | $196.2K5 | $1.2M4 | $202.2K4 | |
| Receivables | $414.8K5 | $563.9K4 | $814.1K4 | ||
| Current assets | $1.1M5 | $3.5M4 | $1.2M4 | ||
| Property, plant and equipment | $74.2K5 | $202.4K4 | $173.6K4 | ||
| Goodwill | $1.5M5 | $1.5M5 | $1.5M4 | $1.5M4 | |
| Intangible assets | $1.5M4 | $1.5M4 | $1.5M4 | ||
| Total assets | $6.6M5 | $15.7M4 | $5.7M4 | ||
| Accounts payable | $3.3K6 | $300.0K6 | |||
| Short-term debt | $4.0M5 | $4.7M4 | $5.4M4 | ||
| Current liabilities | $3.3K6 | $6.8M5 | $8.9M4 | $12.4M4 | |
| Long-term debt | $1.4M5 | $1.4M4 | $1.8M4 | ||
| Long-term liabilities | $2.3M5 | $2.4M4 | $3.1M4 | ||
| Total liabilities | $3.3K6 | $9.1M5 | $11.2M4 | $15.5M4 | |
| Retained earnings | -$3.3K6 | -$82.9M5 | -$115.0M4 | -$148.2M4 | |
| Shareholders’ equity | -$1.5K6 | -$3.3K6 | -$2.7M4 | $4.4M4 | -$9.8M4 |
| Shares outstanding | 0 shares6 | 6.1M shares5 | 503.4K shares4 | 2.1M shares4 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Cash from operations | -$1.3M5 | -$8.8M4 | -$3.2M4 | ||
| Depreciation and amortization | $1.3M5 | $1.3M4 | $3.0M4 | ||
| Stock-based compensation | $1.7M5 | $1.9M4 | $7.1M4 | ||
| Capital spending | $159.9K4 | $04 | |||
| Free cash flow | -$9.0M | -$3.2M | |||
| Cash from investing | -$294.0K5 | -$10.2M4 | -$539.4K4 | ||
| Dividends paid | $04 | $04 | |||
| Cash from financing | $1.7M5 | $20.1M4 | $2.8M4 |
Leadership
Who has led iCoreConnect Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
- Chief executive officerRobert P. McDermott Sep 12, 2023 to now9
- Chief executive officerMarvin Wesley Schrader Mar 3, 2022 to Mar 3, 202210
- ChairRobert P. McDermott Sep 12, 2023 to Sep 12, 20239
- PresidentRobert P. McDermott Sep 12, 2023 to Sep 12, 20239
- Chief financial officerMark Penway Feb 21, 2023 to Feb 21, 202311
- Chief financial officerArchit Shah Sep 12, 2023 to now12
- Chief financial officerEmily Torres Feb 25, 2022 to Feb 25, 202213
- Chief operating officerDavid A. Fidanza Oct 2, 2023 to now14
Board members and other officers (15)
- Chief Information OfficerDavid A. Fidanza Sep 12, 2023 to Sep 12, 202315
- Chief Technology OfficerMuralidar Chakravarthi Sep 12, 2023 to now16
- Board memberAngel Liriano May 9, 2025 to now17
- Board memberDavid Piedra May 9, 2025 to now18
- Board memberJoseph Tung May 9, 2025 to now19
- Board memberAdam Chambers V. May 13, 2025 to now20
- Board memberYvonne E. Hyland Aug 19, 2024 to now21
- Board memberWayne Edward Kalish Sep 18, 2024 to now22
- Board memberJohn Pasqual Sep 12, 2023 to now23
- Board memberJoseph Gitto Sep 13, 2023 to Sep 13, 202324
- Board memberRobert P. McDermott Oct 2, 2023 to now25
- Board memberHassan Baqar Feb 25, 2022 to Mar 3, 202226
- Board memberLarry G. Swets Jr. Feb 25, 2022 to Mar 3, 202227
- Board memberJeff L. Sutton Mar 3, 2022 to Mar 3, 202228
- Board memberMarvin Wesley Schrader Mar 3, 2022 to Mar 3, 202210
Former names
- FG Merger Corp.Jan 21, 2022 to Aug 31, 20232
Timeline
Filings
243 filings to the SEC since October 2021: 4 annual reports, 9 quarterly reports, 65 major events, 60 insider forms, 18 large holders, 87 other. The latest 20:
- Jun 3, 20258-K EDGAR
- Jun 3, 20258-K EDGAR
- May 30, 202510-K EDGAR
- May 30, 20258-K EDGAR
- May 22, 20258-K EDGAR
- May 15, 2025NT 10-Q EDGAR
- May 13, 20253 EDGAR
- May 12, 2025SCHEDULE 13G/A EDGAR
- May 12, 20258-K EDGAR
- May 9, 20253 EDGAR
- May 9, 20253 EDGAR
- May 9, 20253 EDGAR
- Apr 30, 20254 EDGAR
- Apr 28, 20254 EDGAR
- Apr 28, 20253 EDGAR
- Apr 25, 20258-K EDGAR
- Apr 23, 20254 EDGAR
- Apr 23, 20254 EDGAR
- Apr 23, 20254 EDGAR
- Apr 23, 20254 EDGAR
The 243 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
20 open-market trades by officers, directors and large owners since October 2021: 9 buys and 11 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Apr 28, 2025 | Schonfeld Strategic Advisors LLC10% owner | Sale | 132,378 | $2.26 | $299.6K | Form 4 |
| Apr 21, 2025 | Schonfeld Strategic Advisors LLC10% owner | Buy | 100 | $2.03 | $203 | Form 4 |
| Apr 21, 2025 | Schonfeld Strategic Advisors LLC10% owner | Sale | 40,400 | $1.91 | $77.2K | Form 4 |
| Apr 17, 2025 | Schonfeld Strategic Advisors LLC10% owner | Buy | 146,700 | $2.54 | $372.4K | Form 4 |
| Apr 17, 2025 | Schonfeld Strategic Advisors LLC10% owner | Sale | 1,000 | $2.33 | $2.3K | Form 4 |
| Dec 12, 2024 | Fundamental Global Inc.10% owner | Sale | 10,000 | $0.17 | $1.7K | Form 4 |
| Dec 10, 2024 | Fundamental Global Inc.10% owner | Sale | 1,000,000 | $0.27 | $270.0K | Form 4 |
| Nov 26, 2024 | McDermott Robert PChief Executive Officer | Buy | 40,000 | $0.17 | $6.8K | Form 4 |
| Nov 25, 2024 | McDermott Robert PChief Executive Officer | Buy | 236,785 | $0.18 | $42.6K | Form 4 |
| Nov 1, 2024 | Fundamental Global Inc.10% owner | Sale | 1,000,000 | $0.24 | $240.0K | Form 4 |
| Oct 31, 2024 | Fundamental Global Inc.10% owner | Sale | 100,000 | $0.20 | $20.0K | Form 4 |
| Oct 30, 2024 | Fundamental Global Inc.10% owner | Sale | 100,000 | $0.23 | $23.0K | Form 4 |
| Oct 29, 2024 | Fundamental Global Inc.10% owner | Sale | 100,000 | $0.23 | $23.0K | Form 4 |
| Oct 28, 2024 | Fundamental Global Inc.10% owner | Sale | 50,000 | $0.25 | $12.5K | Form 4 |
| Oct 25, 2024 | Fundamental Global Inc.10% owner | Sale | 50,000 | $0.26 | $13.0K | Form 4 |
| Aug 27, 2024 | Pasqual JohnDirector | Buy | 5,000 | $0.58 | $2.9K | Form 4 |
| Mar 1, 2022 | FG Merger Investors LLC10% owner | Buy | 55,000 | $10.00 | $550.0K | Form 4 |
| Mar 1, 2022 | Cerminara Kyle10% owner | Buy | 55,000 | $10.00 | $550.0K | Form 4 |
| Mar 1, 2022 | SWETS LARRY G JRDirector | Buy | 55,000 | $10.00 | $550.0K | Form 4 |
| Mar 1, 2022 | BAQAR HASSANDirector | Buy | 55,000 | $10.00 | $550.0K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- PERISCOPE CAPITAL INC.SCHEDULE 13G/A, 6 filings Feb 9, 2024 to May 12, 202529
- CVI Investments, Inc.SC 13G/A, 2 filings Mar 7, 2022 to Feb 14, 202430
- Radcliffe Capital Management, L.P.SC 13G/A, 2 filings Feb 25, 2022 to Feb 14, 202431
- Linden Capital L.P.SC 13G/A, 2 filings Mar 9, 2022 to Feb 7, 202432
- Hudson Bay Capital Management LPSC 13G/A, 2 filings Feb 8, 2023 to Feb 5, 202433
- Space Summit Capital LLCSC 13G/A, 3 filings Mar 7, 2022 to Feb 5, 202434
- FG Merger Investors LLCSC 13G, 1 filing Feb 14, 202335
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 11SEC EDGARMark Penway, Chief financial officer
- 12SEC EDGARArchit Shah, Chief financial officer
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- 14
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- 17SEC EDGARAngel Liriano, Board member
- 18SEC EDGARDavid Piedra, Board member
- 19SEC EDGARJoseph Tung, Board member
- 20SEC EDGARAdam Chambers V., Board member
- 21SEC EDGARYvonne E. Hyland, Board member
- 22SEC EDGARWayne Edward Kalish, Board member
- 23SEC EDGARJohn Pasqual, Board member
- 24SEC EDGARJoseph Gitto, Board member
- 25SEC EDGARRobert P. McDermott, Board member
- 26SEC EDGARHassan Baqar, Board member
- 27SEC EDGARLarry G. Swets Jr., Board member
- 28SEC EDGARJeff L. Sutton, Board member
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