Intelligent Highway Solutions, Inc. (fka IHSI)

[stemcell]

37,444,871,904 shares...I guess nobody reads 10-Q's

Hello all we need is 200 million to get us moving

https://www.otcmarkets.com/stock/IHSI/disclosure

not a typo...yes it says 37 BILLION shares

The Company has 8,585,033,257 common shares outstanding, a total of 28,859,390,077 common share equivalents as discussed in Note 4 – Significant Accounting Policies and 448,570 exercisable options and warrants as discussed in Note 12 – Stock Options for a total of 37,444,871,904 shares of common stock and common stock equivalents as of September 30, 2017. With 10,000,000,000 shares authorized, there are insufficient common shares in treasury to meet all of the Company’s common share equivalents obligations. 28,769,390,077 of the common share equivalents arise from outstanding convertible notes payable as discussed in Note 4 – Significant Accounting Policies and Note 8 – Convertible Notes Payable and as such have been recognized as a debt obligation in conjunction with the underlying derivative liabilities as discussed in Note 5 – Derivative Liabilities . The Company plans to remediate this shortfall either through a reverse stock split or an increased in the authorized common stock of the Company.

increase the a/s to 50 billion??? I dont think so...

but wait...there's more...Federal Tax Lien on the business

Payroll Tax Liabilities



As of September 30, 2017 and December 31, 2016 the Company had accrued $761,396 in payroll tax liabilities. The payment of these liabilities has not been made due to our limited profitability. Due to the uncertainty regarding our future profitability, it is difficult to predict our ability to pay these liabilities. As a result, a federal tax lien has been levied that will have to be satisfied.



Federal Income Tax Liability



On January 29, 2015, we received a notification from the Internal Revenue Service (the “IRS”) regarding deficiencies in our tax return for the year ended December 31, 2011. The notice was the result of not filing our tax return for the year then ended and included the results of an IRS examination which yielded an income tax amount due of $92,804 plus penalties and interest totaling $34,337 for a total amount due of $127,141. While we believe we will be able to successfully reduce the tax liability and assessed penalties to zero or near zero due to our net loss sustained during the year ended December 31, 2011, the possibility exists we will be unsuccessful and could face an assessment for the full amount of $127,141. As detailed in Note 4, there is an accrued liability of $127,141 for this potential payout as of September 30, 2017 and December 31, 2016.



Litigation



During the second quarter of 2017, the Company filed a lawsuit in the Superior Court in the County of Sacramento against TCA Global Credit Master Fund, LP (“TCA”) alleging lending fraud as TCA is not licensed or authorized to conduct investment banking or lending business in the State of California under the California Finance Lenders Law and default on the credit line for not having made the credit line available for use. The Company has requested a summary judgement in the amount of $1,730,046 for damages and attorney fees. TCA has filed counter suit claiming default on the credit line. Given the uncertain nature of the outcome of the suit and countersuit, the Company has not accrued for potential costs associated with an unfavorable outcome or potential gain associated with a favorable outcome.