ATLANTA, April 18, 2011 /PRNewswire/ -- Innovative Health
Sciences, Inc. (Pinksheets: IHSN) announced today the cancellation
and retirement of 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.
Innovative Health Sciences, Inc. also announced today certain
terms of the restructured agreement with Harrington Multi Media
Marketing (HM3). At this time HM3 has not been acquired by IHSN;
however, IHSN has an option until April 30,
2011, to acquire 100% of the shares of HM3 in exchange for
certain additional funding and the issuance of restricted common
shares of IHSN. IHSN is evaluating the merits of completing the
acquisition of HM3 or of just maintaining its participation rights
for the marketing of certain projects and products including the
Forbes Reilly CrossToner, the Yaku Grill, Mytrak and Frielle Pure
Effects.
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
(404)645-4025
SOURCE Innovative Health Sciences, Inc.