Well guess everyone has there take on this but its all speculation from this point it could be read as good or bad news heres a quick opinion and I'm not saying its right its just an opinion.
ATLANTA, May 31, 2011 /PRNewswire/ -- Innovative Health Sciences, Inc. has reorganized, merging into IHSN10, Inc.(they merged into IHSN10 possibly and left IHSN as a non survivor to possibly get rid of all past associations with hm3 and others IMO), and announces today clarifications to its April 20, 2011, press release. Innovative participated in a Delaware reorganization under Section 251 (g) of the DGCL and the surviving company is IHSN10, Inc (Once again cleaning house on IHSN becuase due to its past relations and contracts may have been impossible to do other business of course IMO). As part of the reorganization, a new holding company was formed: Innovative Holdings Alliance, Inc.(A 3rd company? in which all the shares were transfered too now this could be a plus IMO see below) The Company, IHSN10, Inc., was notified that its Agreement with Carmil Energy was cancelled due to financing and due diligence issues.(Its stating IHSN10 which was divested and has no place or rights in the new company which is a positive sign IMO because we no longer have any association with IHSN or IHSN 10) The Company (meaning ihsn10 as noted above), post merger, was divested(Stripped of taken away from basically having no association with the new holding company) from being a subsidiary of the holding company.
Now again all my opinion but the way this reads out is IHSN and IHSN10 have no association with IHAI almost like its a brand new shell void of any past contracts or agreements so its fresh and this may be what was needed to start fresh could be from a tax issue stand point or even past contracts with hm3 and others remember theres nothing that says IHAI cant absorb, merge, or otherwise become partners with Carmil or even Carmil needed a clean shell to R?M in to theres a reason behind all this he they didnt create IHSN10 then have a clean holding company take over for nothing IMO! Of course this is all my opinion or maybe wishfull thinking but it is something to think about!!
