Intelligent Highway Solutions, Inc. (fka IHSI)

[FullDeck]

Too much! For $10, TCA Global bought controlling interest...

in the Special Purpose Vehicle LLC that they "suggested" IHSI create to buy the Cresent Construction Company.

Here's the link to the agreement:
https://www.lawinsider.com/contracts/1Bf9AHNZLz9d9f6jE685Dy/intelligent-highway-solutions-inc/1549719/2017-03-24

And here's the breakdown of the shares controlled by TCA Global and IHSI:



Looks fine, right? TCA Global only owns 20,000 shares (1,000 Class A and 19,000 Class B), and IHSI owns 80,000 shares. Just like they said, IHSI has an 80% ownership of the SPV LLC (they never disclosed who owns the rest, AFAIK).

But wait, there's more! SEE:



Only Class A shares can vote, and TCA Global owns all 1,000 of them!

So how does this affect the lawsuit IHSI "honorably" brought against TCA Global?

It would seem that the entity doing the suing, i.e., the aggrieved party, should be the SPV LLC that TCA Global itself actually controls!

Is it? And what does that mean for IHSI shareholders?

I'm not going down this rabbit hole any further at this point- it stinks down here.

I'll just add that I believe (please correct if I'm mistaken here) that IHSI's lawsuit claims that TCA Global was not a licensed lender in California.

But both entities- TCA Global and the "TCA CRESENT CONSTRUCTION COMPANY, LLC" Special Purpose Vehicle that IHSI created to buy the "actual" Cresent Construction Company, are based in Florida, not California!.

And TCA Global IS licensed in Florida, again AFAIK.

I believe the lawsuit is without merit- a diversion to string along the unsuspecting.

Oh, what a tangled web they weave...