In Ovations Holdings Inc. (INOH)

[DJ Ponder]

InternetArray in Business Combination Discussions 12/19/2012 11:03:00 AM--Announces Major Restructuring of Senior Debt -Significant Gain Realized for 2012- NEW YORK, Dec. 19, 2012 /PRNewswire via COMTEX/ -- InternetArray, Inc., (INAR), has completed a major debt restructuring, paving the way for the Company's future growth. Holders of Senior Debt have agreed to waive payment of nearly 50% of Senior Debt obligations and associated accrued interest totaling approximately $2,000,000. This obligation has been on the Company's books since 1996 and its elimination creates a gain for 2012. Further, based upon meeting future performance milestones in 2013, the Debt holders have agreed to additional debt elimination. Now that the major part of the debt is cleared, InternetArray is positioned to expand, enter into new business ventures and partnerships that have global reach, holding significant prospects for the Company. The company has been in contact with the management of Marine Exploration Inc. (MEXP) regarding a possible joint venture or merger. Further, this potential combination is interested in utilizing the healthcare product manufacturing technology and expertise of Healthnostics, Inc., (HNSS) for a humanitarian-based commercial project. We will be initiating a LOI to review the combination of the companies and their collective intellectual properties.