Innovative Health Sciences, Inc. Restructures Its Agreement With Harrington Multimedia Marketing, Inc., and Reduces Its Capital
April 08 2011 - 1:00PM
Marketwired
Innovative Health Sciences, Inc. (PINKSHEETS: IHSN) announced today
that it has restructured its agreement with Harrington Multi Media
Marketing (HM3). Under the terms of the new agreement, IHSN will
reduce its annual capital commitment costs by more than
$500,000.00, while maintaining its participation rights for
marketing projects and products for which HM3 developed
infomercials. Innovative Health Sciences, Inc. expects to continue
to work with HM3 on our existing projects as well as potential
projects currently being reviewed. IHSN's goal is to identify new
projects that can create a diverse portfolio, while developing the
potential for significant upside to generate revenues.
Also, 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. 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.
This press release contains forward-looking information within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 and is subject
to the Safe Harbor created by those sections. This material
contains statements about expected future events and/or financial
results that are forward-looking in nature and subject to risks and
uncertainties. Such forward-looking statements by definition
involve risks, uncertainties and other factors, which may cause the
actual results, performance or achievements of the Company to be
materially different from the statements made herein. Statements
contained in this news release, other than those identifying
historical facts, constitute "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934
and the Safe Harbor provisions as contained in the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements relating to the Company's future expectations, including
but not limited to revenues and earnings, technology efficacy,
strategies and plans, are subject to safe harbors protection.
Actual Company results and performance may be materially different
from any future results, performance, strategies, plans, or
achievements that may be expressed or implied by any such
forward-looking statements. The Company disclaims any obligation to
update or revise any forward-looking statements.
Contact: Innovative Health Sciences, Inc. Chris Winter President
chris@ihs-development.com (770) 753-6448