news out Item 2.0 Completion of Acquisition or
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Posted On: 03/27/2018 8:16:42 PM
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Item 2.0 Completion of Acquisition or Disposition of Assets
On March 12, 2018, the Registrant determined, upon advice of advisors and in light of comments supplied the Registrant in communications with the SEC, to file an amendment to a prior filing.
On March 13, 2017, the Registrant, Intelligent Highway Solutions, Inc., (IHSI) confirmed the partial completion of a closing involving a certain acquisition and certain related credit facilities, such closing referenced by the parties as the Intelligent Highway Solutions, Inc. - Crescent Construction Company Inc. Purchase” (the “Transaction”).
In summary, a company acquired ownership of the acquisition, and also provided the Registrant rights to take control of the ownership of the acquired company, and another company agreed to fund the acquisition and certain working capital, to allow the completion of the overall Transaction.
Reference is made to the Registrant’s Form 8-K filed in March, 2017, concerning the March 21, 2017 event of the acquisition. This filing is an Amendment to said filing in March, 2017.
Such prior Form 8-K provides the names and details of said Transaction and is incorporated herein by reference and is amended to the extent of such new or current statements and information as stated herein or attached hereto in any Exhibit.
The purposes of this Form 8-K is to supply financial statements, see Exhibit 99.1, of Crescent Construction Company, Inc. (“Crescent”), pro forma financial information, see Exhibit 99.2, and to supply current information relating to litigation that ensued relating to the Transaction.
As to such litigation, previously reported by the Registrant, the Registrant and its ownership and asset relating to Crescent, the Registrant remains in a dispute with “TCA.”
As it pertains to the dispute, the Registrant filed suit against TCA in California which was dismissed without prejudice. Though dismissed there, it is not a loss of claims against TCA, and the Registrant is in the process of completing or suspending litigation filed against TCA in Dade County, Florida. At this time, the Registrant is attempting settlement efforts through legal counsel and may maintain, suspend, pursue or cancel the said Dade County litigation upon advice of said counsel. No orders have been issued in any of such litigation supplying TCA or the Registrant with control of Crescent.
Item 9.0 Financial Statements and Exhibits
read all
https://www.sec.gov/Archives/edgar/data/15497...rm8-ka.htm
Cresent construction company financial statement oct 31 2016 and 2015
https://www.sec.gov/Archives/edgar/data/15497...ex99-1.htm
INTELLIGENT HIGHWAY SOLUTIONS, INC
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION
YEAR ENDED DECEMBER 31, 2016
https://www.sec.gov/Archives/edgar/data/15497...ex99-2.htm
Item 2.0 Completion of Acquisition or Disposition of Assets
On March 12, 2018, the Registrant determined, upon advice of advisors and in light of comments supplied the Registrant in communications with the SEC, to file an amendment to a prior filing.
On March 13, 2017, the Registrant, Intelligent Highway Solutions, Inc., (IHSI) confirmed the partial completion of a closing involving a certain acquisition and certain related credit facilities, such closing referenced by the parties as the Intelligent Highway Solutions, Inc. - Crescent Construction Company Inc. Purchase” (the “Transaction”).
In summary, a company acquired ownership of the acquisition, and also provided the Registrant rights to take control of the ownership of the acquired company, and another company agreed to fund the acquisition and certain working capital, to allow the completion of the overall Transaction.
Reference is made to the Registrant’s Form 8-K filed in March, 2017, concerning the March 21, 2017 event of the acquisition. This filing is an Amendment to said filing in March, 2017.
Such prior Form 8-K provides the names and details of said Transaction and is incorporated herein by reference and is amended to the extent of such new or current statements and information as stated herein or attached hereto in any Exhibit.
The purposes of this Form 8-K is to supply financial statements, see Exhibit 99.1, of Crescent Construction Company, Inc. (“Crescent”), pro forma financial information, see Exhibit 99.2, and to supply current information relating to litigation that ensued relating to the Transaction.
As to such litigation, previously reported by the Registrant, the Registrant and its ownership and asset relating to Crescent, the Registrant remains in a dispute with “TCA.”
As it pertains to the dispute, the Registrant filed suit against TCA in California which was dismissed without prejudice. Though dismissed there, it is not a loss of claims against TCA, and the Registrant is in the process of completing or suspending litigation filed against TCA in Dade County, Florida. At this time, the Registrant is attempting settlement efforts through legal counsel and may maintain, suspend, pursue or cancel the said Dade County litigation upon advice of said counsel. No orders have been issued in any of such litigation supplying TCA or the Registrant with control of Crescent.
Item 9.0 Financial Statements and Exhibits
read all
https://www.sec.gov/Archives/edgar/data/15497...rm8-ka.htm
Cresent construction company financial statement oct 31 2016 and 2015
https://www.sec.gov/Archives/edgar/data/15497...ex99-1.htm
INTELLIGENT HIGHWAY SOLUTIONS, INC
UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL INFORMATION
YEAR ENDED DECEMBER 31, 2016
https://www.sec.gov/Archives/edgar/data/15497...ex99-2.htm
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