Intelligent Highway Solutions, Inc. (OTCQB: IHSI) announced today the completion of positive actions to reduce shareholder stock dilution. The number of active convertible lenders have been consolidated from six to two. This reduction in active lenders will have a significant impact on the number of shares to be sold at any given time. It is anticipated that the Company’s day to day operations will be addressed from the previously announced $5 million private equity line of financing. The equity line will provide financing based on timing and amounts based on the sole discretion of the Company. Furthermore, since the equity drawdowns have a floor price, the prospects of a toxic, dilutive financing is eliminated.
Devon Jones, CEO of Intelligent Highway Solutions, stated, “On September 17 we submitted our S-1 general registration statement to the SEC, we recently received (6) comments, and have prepared our responses back to the SEC. We cannot predict how long it might take for a final response and approval of the statement, we are confident that final approval is imminent.”
Jones continued, “In addition to a restructure of the debt, we will continue to pursue the agriculture grow lighting business; as noted in our recent progress report on AAA Organic Delivery installation, and pursue our ongoing business relationship with Honeywell and other international companies.”
“One final comment,” Jones stated, “There have been inquiries and correspondence from shareholders about a reverse split being considered. The Company has not discussed nor has it considered a reverse split at this time. Our focus is getting our financial house in order and expansion of the Company business.”
About Intelligent Highway Solutions, Inc.
Intelligent Highway Solutions, Inc. was formed in April, 2011. IHSI develops high and low voltage electrical solutions for a variety of platforms. The company performs electrical installations, temperature control systems, communication and wireless integration and advanced lighting systems.
Forward-Looking Statements: Any statements contained herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made subject to certain risks and uncertainties, which could cause actual results to differ materially from those presented. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only to the date such information was released. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after release of this information.
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