The below quote was from Hotstocked back in August and suggest 1/4 of a million of debt was paid down in just 36 days by mid-August. http://bit.ly/1MPAq94
The above reaffirms what IHSI just said in a November press release about taking care of their debt.
They also suggest the company has their house in order in the press release on November 5.
So with debt controlled, new products and contracts in-place and financing to back them up, things are looking better than solid moving forward.
What is not covered in that Hotstocked August article is the fact that based on volume even more of their debt could be resolved, as volume has significantly increased the past 120 days. Me is really liking this.
Quote:A private equity line was put in place a couple of weeks before the company published its 10-Q and the people at IHSI's helm reckon that with its help, they will be able to repay the rest of the convertible notes. Curiously enough, the equity line in question wasn't covered by an 8-K form, but it is mentioned in the 10-Q. According to it, an unnamed investor will have the right to buy up to $5 million worth of IHSI's stock at a 30% discount.
Quote:"Between July 9 and August 14 (a period of just thirty-six days), the note holders converted $246,235 worth of debt and interest into 269,037,466 shares of common stock."
The above reaffirms what IHSI just said in a November press release about taking care of their debt.
Quote:SACRAMENTO, CA--(Marketwired - November 03, 2015) - Intelligent Highway Solutions, Inc. (IHSI) announced today the completion of positive actions to reduce shareholder stock dilution. The number of active convertible lenders have been consolidated from six to two. This reduction in active lenders will have a significant impact on the number of shares to be sold at any given time. It is anticipated that the Company's day to day operations will be addressed from the previously announced $5 million private equity line of financing. The equity line will provide financing based on timing and amounts based on the sole discretion of the Company. Furthermore, since the equity drawdowns have a floor price, the prospects of a toxic, dilutive financing is eliminated. http://yhoo.it/1XM7cwL
They also suggest the company has their house in order in the press release on November 5.
Quote:Devon Jones, CEO of Intelligent Highway Solutions, stated, "We have taken steps to control our debt structure, we can now turn our attention to building on the fundamentals of company growth." Jones continued, "We have completed profitable contracts with Caltrans and Honeywell over the past four years, we are now in the financial position to expand on the foundation we prepared." http://yhoo.it/1HtzC4Z
So with debt controlled, new products and contracts in-place and financing to back them up, things are looking better than solid moving forward.
What is not covered in that Hotstocked August article is the fact that based on volume even more of their debt could be resolved, as volume has significantly increased the past 120 days. Me is really liking this.
