IHSN NEWS
Innovative Health Sciences, Inc Announces Today the Cancellation and Retirement of 1,000,000,000 of Its Common Shares as Part of Its Corporate Restructuring
PR Newswire "Press Releases US - English"
ATLANTA, April 18, 2011 /PRNewswire/ -- Innovative Health Sciences, Inc. (Pinksheets: IHSN) announced today the cancellation and retirement of 1,000,000,000 (One Billion) of its common shares. As part of its restructuring plan and to bolster the capital structure, the Company has elected to cancel and retire certain common shares of its affiliates.
Innovative Health Sciences, Inc. also announced today certain terms of the restructured agreement with Harrington Multi Media Marketing (HM3). At this time HM3 has not been acquired by IHSN; however, IHSN has an option until April 30, 2011, to acquire 100% of the shares of HM3 in exchange for certain additional funding and the issuance of restricted common shares of IHSN. IHSN is evaluating the merits of completing the acquisition of HM3 or of just maintaining its participation rights for the marketing of certain projects and products including the Forbes Reilly CrossToner, the Yaku Grill, Mytrak and Frielle Pure Effects.
Innovative Health Sciences, Inc. has embraced as its corporate mission, a plan to participate in and acquire interests that are leading edge in their respective market niches, and that have expectations of enhancing shareholder values.
AI
