EWRC, THRR, and now IHSN have released press stating someone was/is willing to purchase all their outstanding shares for 1,000% more than they are worth.
After the initial euphoria wears off and people come to grips that no one is dumb enough to pay 1,000% more for something that is virtually worthless, or can be diluted to virtually zero, the stock inevitably falls.
I just caution those of you new to these sub-penny stocks that when it seems to good to be true it most certainly is.
Innovative Health Sciences, Inc. Receives Offer to Purchase 100% of Outstanding Shares Marketwire "Press Releases "
CLEARWATER, FL -- (MARKET WIRE) -- 05/04/10 -- Innovative Health Sciences, Inc. (PINKSHEETS: IHSN) announced today that there was a special meeting of the Board of Directors to discuss a Letter of Intent received by the Company to buy 100% of the Company's outstanding shares. The Letter of Intent, received April 29, 2010 , is presently being reviewed as to the current terms and conditions of the offer. While the Board has come to no conclusions, the final consensus was very favorable. The current offer is higher than the 52 week high of $0.35 per share. In deciding to proceed with the sale, the Board has contacted its corporate counsel as to whether the Board has the authority to accept the offer, without holding a shareholder meeting.
About Innovative Health Sciences, Inc. Innovative Health Sciences, Inc. is focused on acquiring companies that are leaders in their respective market niches and have the potential for additional upside. Acquired in 2010, Harrington Multi Media Marketing (HM3) is a leading producer of infomercials and short-form direct television spots and developer of Internet-based marketing campaigns and transactional websites. HM3 also offers complete turnkey solutions to launch new consumer products including: assistance with outsourcing products and prototype development; set-up and management of call centers; product fulfillment and customer service; credit card processing; purchasing and management of media outlets, including telephone sales, direct response television (DRTV), and Internet sales. For more information, please visit www.ihs-development.com or call 727-230-1036.
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: Chris Winter President Innovative Health Sciences, Inc. Tel: 727-230-1036 #157
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2 comments:
How do you feel about SKTO? They had what (appeared) to be solid news come out today, but little increase in the stock price. It did close green, though. The trend has been down but it looks like it might be turning a corner. Would love to hear your thoughts and appreciate the blog!
Reminds me of PGYC too. That onme created a website the day of the PR announcing the buyout company. The real company had to add a note to their site that they had nothing to do with that other website, lol. SEC halted that one.
In reply to JacksonR, As for SKTO, yes they sold something for $25 million, but they also spent $150 million the prior week, so net down pretty big. They also increased AS to 100 million, so you do the math there.
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