Friday, March 09, 2018 10:57:55 AM
They've shown NO ACTIVITY since.
From IHSI last 10Q:
https://backend.otcmarkets.com/otcapi/company/sec-filings/12392708/content/html
EDIT: Here, this is more readable:
And that "deal" stinks to high-heaven and as far as investors have been told hasn't even been finalized.
The down payment for the deal was $500k from a $5 million credit line from TCA Global (that's a BIG RED FLAG right there).
And IHSI and TCA Global are playing this kabuki dance of suing each other leaving the whole deal up in the air.
Do enough research, and you'll see that the SPV entity that bought Cresent is actually CONTROLLED by TCA, so they're suing themselves.
Misdirection and obfuscation. And some wonder why "money-laundering" is suspected.
Bottom line, IHSI had NO revs outside of the "just-acquired" Cresent, and the Cresent deal is very much up in the air and Cresent itself is now "in receivership" (could be going through bankruptcy).
I'm not about to redo all the DD here, but these posts should give anyone who cares an idea:
"Cresent is in receivership"
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136748528
"Too much! For $10, TCA Global bought controlling interest..."
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136763476
PLUS, the guy who sold "the old Cresent", Dewey Keith Gabriel, has nowopened a "new Cresent" while the new Cresent is in receivership. And the new one has nothing to do with IHSI, making it appear the deal has collapsed (read to bottom):
"Supposed Fazync inventor violated securities law..."
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=136744914
So bottom line, IHSI claimed revenues from a company whose ownership is still in dispute, and serious questions remain about why TCA would extend a $5 million credit line to a VERY debt-ridden company with IRS tax liens against it.
It all stinks, and this is who Cellucci chose to go to bed with...
Enough... I need a shower.
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