Sacramento, CA -- August 08, 2017 -- InvestorsHub NewsWIre -- Intelligent Highway Solutions (OTC: IHSI) today issued this CEO letter to its shareholders:
After a difficult 2016, the executives at Intelligent Highway Solutions, Inc. worked tirelessly to turn things around. In 2017, we have executed on several complex initiatives and continue to make strides in delivering on the strategic objectives to improve our products and services we offer our customers. The company's operations, competitive posture and foundation for growth are stronger today than a year ago.
In March 2017 we made a bold move to begin the acquisition of Crescent Construction Company of North Carolina. Crescent Construction is a full service general contracting firm with an excellent reputation of over 32 years. It recorded $7.2 million in revenues for its Fiscal Year ended October 31, 2016.
This acquisition allows expansion of our energy efficient technologies and superior highway management concepts into the Southeastern U.S. This is important for our future success.
There was an enormous amount of legal and accounting work that the company needed completed. The work was expensive but needed to be accomplished. I am happy to say that we are a fully reporting company and compliant with all SEC rules regulations. We will file our financial statements for the 2nd quarter of 2017 soon, keeping us up-to-date with all filings requirements.
We recently signed a letter of intent with Fazync to prove and market the Phase Angle Synchronization equipment that can revolutionize how electrical power is saved and redistributed for consumption. I simply cannot overstate the importance of this and the financial reward for IHSI when the Phase Angle Synchronization equipment is proven...and we believe it will!
As shareholders, your concerns about IHSI are the dilution, debt, stock price and reverse split. When the first quarter 10Q was filed, and outstanding shares were reported, there were shares in the pipeline that, as of the filing, were scheduled for distribution but had not yet been issued.
We have consolidated our debt and we believe our relationships with the note holders is excellent. It has been an expensive process to have our reporting updated, acquire Cresent and seek other acquisition targets. But this is our future...and our investors' future. We are looking for better financing to replace these notes and we anticipate a cash flow that will support the growth of the Company and service our expenses. I wish I had an easy answer for the stock price, we are all disappointed, but we are confident about our future.
Finally, there is no plan for a reverse split at this time; however we may need to do an increase of authorized shares to stay in compliance with note holders on reserve share requirements.
Our current goals and outlook include: Expanding revenues through additional acquisitions; expand into government projects and work with international companies in California and North Carolina; prove out the Fazync -PAS technology and seek general contracting work in California.
We have retained an experienced Investor Relations executive to assist us in our significant expansion of public information. You can get in touch with Paul Knopick at firstname.lastname@example.org or at 940.262.3584. I am asking him to handle all shareholder communications, allowing our management team to spend its time and effort accomplishing the steps necessary to make Intelligent Highway Solutions a more viable and interesting investment opportunity.
For those of you not familiar with the Company, Intelligent Highway Solutions, Inc. was formed in April, 2011 and became public in 2012. IHSI provides technology driven solutions for commercial, industrial, and municipal facilities.
With the addition of Cresent Construction, IHSI is a full-service general contractor. We provide design, installation and construction management services.
Visit us at http://www.intelligenthighwaysolutions.com/ . Call our IR representative. We thank you for your patience. We anticipate rewarding it.
Any statements contained herein that are not historical facts are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made subject to certain risks and uncertainties, which could cause actual results to differ materially from those presented. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only to the date such information was released. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after release of this information.
Contact: Paul Knopick