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On March 13, 2017, the Registrant, Intelligent Highway Solutions, Inc., (IHSI) confirmed the partial completion of a funding involving a certain acquisition and certain related credit facilities, such funding referenced by the parties as Intelligent Highway Solutions, Inc. - Crescent Construction Company Inc. Purchase” (the “Transaction”).
The current management team at Cresent (including the founder) will remain for 3 years insuring a smooth transition, IHSI plans to expand the services to include the core businesses of IHSI; including but not limited to electrical, HVAC management, energy efficient lighting and intelligent highway management. This acquisition builds on IHSI’s business model to expand into the southeastern sector of the country.
Cresent financial year end, October 31, 2016, Cresent Construction recorded revenues of over $7.2 million, a gross profit of over $581,000 and a net income (profit) of $387,000. Cresent is on track to complete $10,000,000 of new business in 2017. Cresent currently has 9 full time employees, working with a number of sub-contractors and has 3 projects currently under construction. Latest News
IHSI Announces Letter of Intent for Acquisitions
SACRAMENTO, CA – 3 Nov, 2016 – Intelligent Highway Solutions, Inc. (OTCBB: IHSI), announced that it has entered into two Letters of Intent to expand our business model.
Devon Jones CEO of Intelligent Highway Solutions stated, “The Company has entered into two Letters of Intent to expand our business. We have secured financing to accomplish this task. Additional information will be made available as we continue to complete our due-diligence. Non-disclosure has been signed between all respective parties. Once we have completed and sign our final agreements IHSI will make the announcements with details. The acquisitions will complement our core business and expand our reach outside California. We again, want to thank our shareholders for their continued support.”
IHSI Updates Financial Statements
SACRAMENTO, CA - 10/26/2016 (PRESS RELEASE JET) -- Intelligent Highway Solutions, Inc. (OTCBB: IHSI), announced that auditors have been engaged to update financial statements and file 10K/10Q to bring the Company current on financial matters.
Devon Jones, CEO of Intelligent Highway Solutions, stated, "We have been working with our auditors to bring current all the necessary financial statements. The Company will submit the financial statements as soon as available; we anticipate this will be completed within the next 8 weeks.” Jones continued, “IHSI Is planning to remain current with all filings moving forward. We appreciate our shareholders patience’s during this time of transition.”
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