$10 million in backlogged projects. Just needed the working capital to make them happen. $5.5 million in revs for FYE17. Secured the funds on paper, but lenders kept pulling the strings, never released the funds. Lender used an attorney to set up a ancillary company to maintain 100% control. Devon/IHSI never received the funding. He was never brought under wings of the new company, nor given management responsibility. Hence, the lawsuit stopped THIS vvvv growth potential in its tracks, severely damaging IHSI and shareholders.
Meanwhile, the SEC has this case under review, as they should.
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