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TurnOnGreen Reports Significant Milestones in Tim Hortons Installation
Milpitas, CA, March 21, 2022 — TurnOnGreen, Inc. (“TurnOnGreen”), has resumed work on the installation of its Level 3 electric vehicle (“EV”) chargers at the first of three Tim Hortons quick-service restaurant locations in Canada. COVID-19 pandemic-related supply chain issues and restricted access to Canada delayed the pilot program. Since resuming in February 2022, significant milestones have been reached.
https://turnongreen.com/news/turnongreen-reports-significant-milestones-in-tim-hortons-installation/
The parties to the Agreement (the “Parties”) have agreed that, upon completion of the Transaction, IMHC will change its name to TurnOnGreen, Inc., and, through an upstream merger whereby the current TurnOnGreen shall cease to exist and have two operating subsidiaries, TOG Technologies Inc. and Digital Power Corporation. Promptly following the closing of the Transaction, IMHC will dissolve its three dormant subsidiaries.
Here’s the big dump back to .20 where the pump
Started
$IMHC BitNile Holdings’ Subsidiary, TurnOnGreen, to Be Acquired by BitNile Holdings’ Subsidiary, Imperalis Holding Corp. (OTC Pink: IMHC), Creating a Publicly Traded EV Charging and Power Solutions CompanyPress Release | 03/21/2022
BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”), announced today that it and its subsidiary TurnOnGreen, Inc., an electronic vehicle (“EV”) charging and power solutions company (“TurnOnGreen”), have entered into a securities purchase agreement (the “SPA”) with Imperalis Holding Corp. (OTC Pink: IMHC) (“Imperalis”), a publicly traded subsidiary of BitNile, whereby TurnOnGreen will, upon closing, become a subsidiary of Imperalis (the “Acquisition”).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220321005274/en/
Upon completion of the Acquisition, which is contingent upon the completion of an audit of TurnOnGreen and each party’s satisfaction or waiver of certain customary closing conditions set forth in the SPA, Imperalis will change its name to TurnOnGreen and, through an upstream merger whereby the current TurnOnGreen shall cease to exist, have two operating subsidiaries, TOG Technologies Inc. and Digital Power Corporation. Promptly following the closing of the Acquisition, Imperalis will dissolve its three dormant subsidiaries. Subsequent to the Acquisition, BitNile will assist TurnOnGreen in pursuing an uplisting to the Nasdaq Capital Market, subject to Nasdaq’s seasoning rules and other criteria for listing.
The Company anticipates that stockholders of BitNile will in due course receive a dividend of securities of TurnOnGreen. BitNile expects to distribute to BitNile stockholders approximately 140 million of its common shares and an equal number of warrants to purchase such shares of TurnOnGreen at the time of the record date to be set therefor, subject to regulatory approval and compliance with US federal securities laws.
Milton “Todd” Ault, III, the Company’s Executive Chairman, said, “We are excited to sponsor the acquisition of TurnOnGreen by Imperalis that will, upon closing of the SPA, result in a publicly traded company, TurnOnGreen, dedicated to continuing the development, manufacturing and sales of its proprietary power solutions and EV charging systems serving both residential and commercial segments. We look forward to TurnOnGreen’s contribution towards enabling the electrification of American vehicles and its participation in reshaping the nation’s infrastructure to support this green technology.” Ault continued, “We structured this transaction to benefit our stockholders who have been supportive of our transformation from a power solutions company in 2016 to a diversified holding company serving multiple sectors and developing and deploying an array of innovative technologies and products. We believe this transaction, creating a pureplay public company focused on EV chargers and power solutions, will be accretive in value for our stockholders.”
Upon the closing of the Acquisition, TurnOnGreen will continue to be led by its Chief Executive Officer, Amos Kohn and its Chief Revenue Officer, Marcus Charuvastra.
“We look forward to the closing of the acquisition and the ability of TurnOnGreen to leverage public markets to drive the development and distribution of our innovative technology,” said Amos Kohn, CEO of TurnOnGreen. “TurnOnGreen has a team of experienced professionals, and we are excited about the stockholders of BitNile becoming stockholders of TurnOnGreen and together continuing the journey to deliver on the vision of making green energy technology a part of our everyday lives.”
For more information on TurnOnGreen’s product line, please visit www.TurnOnGreen.com.
For more information on BitNile and its subsidiaries, BitNile recommends that stockholders, investors, and any other interested parties read BitNile’s public filings and press releases available under the Investor Relations section at www.BitNile.com or available at www.sec.gov.
About BitNile Holdings, Inc.
BitNile Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, BitNile owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma and textiles. In addition, BitNile extends credit to select entrepreneurial businesses through a licensed lending subsidiary. BitNile’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.com.
About TurnOnGreen, Inc.
TurnOnGreen, Inc. designs and manufactures innovative, feature-rich, and top-quality power products for mission-critical applications, lifesaving and sustaining applications spanning multiple sectors in the harshest environments. The diverse markets we serve include defense and aerospace, medical and healthcare, industrial, telecommunications and e-Mobility. TurnOnGreen brings decades of experience to every project, working with our clients to develop leading-edge products to meet a wide range of needs. TurnOnGreen’s headquarters are located at Milpitas, CA; www.TurnOnGreen.com.
Forward-Looking Statements
This press release contains “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 generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.BitNile.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220321005274/en/
IMHC “only” up 380% on the day.
IMHC seeing some buying return. NILE is running hard. IMHC should follow.
But NOT over in IMHC's 'parent' Company, i.e., NILE shares, Dude.
EV chargers everywhere, tonnes of companies...this is a P&D
IMHC “Creating a Publicly Traded EV Charging and Power Solutions Company”
Going to dump it hard here. Another fdoc scam
Owners personal ATM off NILE pump
I am not 100% sure what will or should happen. So far I just love the upside
so is this getting listed on naz??
YES SIR~ $IMHC
Monster setup!
LETZZZ GO~ $IMHC
Damn this opened up high
Here is what I just picked up 8003 shares of at 1.25
https://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=CGSI&insttype=Stock&freq=1&show=&time=7
Thanks 1Time, that is great news for this stock.
I going for another one this morning though. Do you use twitter?
I just posted on $IMHC on twitter saying 1Time says IMHC is a go.
Find me there and give me a follow and I give you a follow as well so that I can send you a PM of a stock w/ a 21.9 mil OS 16 mil float with recent acquisitions no resistance that will make you chit a brick when you see the chart!
I can't give you the ticker until after I get them myself; Hopefully I can get them early. It will be tough because they are so low volume
BIG NEWZZZ OUT TODAY~ THIS CAN SEE A MAJOR MOVE~ $IMHC
Haven't even tried. I'll check.
You been able to reach out to Todd Alut by any chance? I can’t get any response from him. Curious about the plans here.
Another form 4. Moderators needed, just got mine.
https://ih.advfn.com/stock-market/USOTC/imperalis-pk-IMHC/stock-news/87145528/statement-of-changes-in-beneficial-ownership-4
Haha. You are correct.
Thanks, gave you a follow because I assume your last name is brock and that is my last name too!
Nasdaq traded BitNile took control of this ticker. And it’s super thin on the share structure. Could make a monster move if we ever get any updates.
As float not updated, Unrestricted is 26,216,302
01/30/2022
Share Structure
Market Cap Market Cap
20,989,269
01/28/2022
Authorized Shares
200,000,000
01/30/2022
Outstanding Shares
161,704,695
01/30/2022
Restricted
135,488,393
01/30/2022
Unrestricted
26,216,302
01/30/2022
Held at DTC
19,431,417
01/30/2022
Float
17,525,172
12/10/2019
Par Value
0.001
Thanks for writing, I'll take another look and add to my watchlist!
BitNile will focus in Bitcoin mining. Lending and real state will be spun off into another public company. They already own 81% of IMHC. Insiders may even have some of the other 19%.
BitNile adding a few hundred 10-cent shares and reporting on that makes you wonder.
Why should anyone buy it?
I'm curious, what does this have to do with IMHC? BitNile trades on the NYSE under a different ticker!
BitNile Holdings completes name and stock ticker symbol change from Ault Global Holdings
https://ibsintelligence.com/ibsi-news/bitnile-holdings-completes-name-and-stock-ticker-symbol-change-from-ault-global-holdings/
Lil action here. Bid jumping. On watch.
Will be on watch
Yessssir! Hmmm wonder why?
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