SACRAMENTO, CA–(Marketwired – Nov 16, 2017) – Intelligent Highway Solutions, Inc. (OTCBB: IHSI), today updates shareholders on the status of your Company.
Devon Jones, CEO of IHSI stated, “We have made great progress since we last updated our shareholders. Everyone at the Company has been working in several areas of corporate development and continuing to establish the foundation for growth.”
Updates from the Company are as follows:
- We have no plans to reverse split our common stock at this time.
- TCA litigation is still on-going. Original judgment has been dismissed and replaced with new lawsuit filed, on substantially same claims. TCA is a lender that we worked with to acquire funding for business operations and acquisitions. Additional information can be found about TCA in our SEC filings.
- We have started the process of restructuring convertible debt and it will take time. We are also anticipating new revenues and profits that would be used to help buy out debt and notes. Additional information will be following in a press release soon.
- Fazync update; the demonstration unit has been relocated to the new IHSI facility in California (pictures posted on Twitter and Facebook). The Company has set up a timeline and budget to update the demonstration unit; in addition we will be developing new market material, updated PowerPoint and new video demonstration. When we hooked up the demonstration it appeared to work flawlessly, changes will be cosmetic, not technical.
- Cresent is our general contracting company, acquired in March, 2017, located in North Carolina and currently has a backlog of approximately $10.6 million in future projects. Cresent continues to bring in new work and we have been very successful in bidding new projects.
Devon Jones, further stated “We thank our shareholders for their patience and support.”
CEO, Intelligent Highway Solutions, Inc.
Visit us at http://www.intelligenthighwaysolutions.com/. Contact our IR representative, Paul Knopick at E and E Communications.
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.