IHAI NEWS OF 1B shares retirement today HUGE!!!Innovative Holdings Alliance, Inc. Announces Effective Date for Cancellation and Retirement of Over 1,000,000,000 of Its Common Shares
PR Newswire "Press Releases US - English"
ATLANTA, June 14, 2011 /PRNewswire/ -- Innovative Holdings Alliance, Inc. (Pink Sheets: IHAI) announced today the cancellation and retirement of over 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 effective June 14, 2011.
"Innovative Holdings Alliance, Inc., in our agreement with Carmil Energy to build power generation plants, are very pleased with the progress moving forward with our corporate restructuring," stated Michael Mills, President of Innovative Holdings Alliance, Inc. "As well, we are working diligently to secure the remaining financing for our first 1 Megawatt power generation system at our corporate showroom headquartered in Palm Harbor, Florida." We believe our Phase Shift Generation System (PSGS) to be an exciting technological breakthrough that will supplement green energy technologies and make them more viable and economically feasible when competing with fossil fuels.
