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.
Innovative Holdings Alliance, 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 Holdings Alliance, Inc.
Michael J. Mills
President
(770) 753-6448
SOURCE Innovative Holdings Alliance, Inc.