Intelligent Highway Solutions Inc (fka IHSI)

[Burn Notice88]

You always uncover amazing finds, Slow Okie! Perhaps we are witnessing a reverse triangular merger? "A reverse triangular merger is the formation of a new company that occurs when an acquiring company creates a subsidiary, the subsidiary purchases the target company, and the subsidiary is then absorbed by the target company."

A reverse triangular merger is more easily accomplished than a direct merger because the subsidiary has only one shareholder—the acquiring company—and the acquiring company may obtain control of the target's nontransferable assets and contracts.

In a reverse triangular merger, the acquirer creates a subsidiary that merges into the selling entity and then liquidates, leaving the selling entity as the surviving entity and a subsidiary of the acquirer. The buyer’s stock is then issued to the seller’s shareholders.
https://www.investopedia.com/terms/r/rtm.asp#:~:text=A%20reverse%20triangular%20merger%20is,absorbed%20by%20the%20target%20company.