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.