In Ovations Holdings, Inc. Announces Major Common Stock Retirement
07 February 2014 - 1:00AM
Marketwired
In Ovations Holdings, Inc. Announces Major Common Stock Retirement
Restructuring Sets Stage for Electro Verde's Business
Expansion
DORAL, FL--(Marketwired - Feb 6, 2014) - In Ovations
Holdings, Inc. (OTC Pink: INOH) (the "Company") today announced
that it has reduced its issued and outstanding common stock by
66.7% in order to facilitate the expansion of growth
opportunities for its Electro Verde Subsidiary.
The Company's recent restructuring has strengthened the
expansion and growth of its Electro Verde subsidiary's significant
business prospects in the international energy efficiency markets.
This restructuring allows for joint ventures, such as the Company's
existing joint venture with Coordinated Systems International, Inc.
and strategic acquisitions based on the Electro Verde product line.
http://bit.ly/CSI_GE_GradiLux_INOH_Partnership
The retired shares were provided by the executive management
team in exchange for entering into employment agreements with the
Company. Its directors, who are also its executive officers, have
retired more than 95% of their shares of common stock which have
been returned to authorized unissued shares. As a result, the total
outstanding shares of stock have decreased by 66.7% percent and the
percentage of the Company held by non-management shareholders has
increased from 30.9% to 92.6% percent. The Company's recent
restructuring has strengthened the expansion and growth of its
Electro Verde subsidiary's significant business prospects in the
international energy efficiency markets.
Learn more about Coordinated Systems International (CSI):
http://bit.ly/Coordinated_Systems_International.
About: In Ovations Holdings, Inc.
In Ovations Holdings, Inc. is pursuing several potential
opportunities. Its subsidiary, Electro Verde, Inc. is marketing, in
conjunction with CSI the patented GradiLux™ Total Lighting System
Solution which reduces electricity consumption and carbon emissions
in municipal lighting systems worldwide. The Company is also
involved in a Caribbean-based marine-related eco-tourism business
and ocean search and recovery operations using state-of-the-art
technology. Finally, it is a minority owner of Atmospheric Water
Solutions, a company involved in water purification.
"Safe Harbor Statement"
Under the Private Securities Litigation Reform Act of 1995: The
statements in this presentation that relate to the Company's
expectations with regard to the future impact on the Company's
results from new products are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
The results anticipated by any or all of these forward-looking
statements may not occur. Additional risks and uncertainties are
set forth in the Company's Annual Report for the year ended June
30, 2013, and the Company's Quarterly Report for the first quarter
ended September 30, 2013 as published on OTC Markets. The Company
undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements that may be made to
reflect events or circumstances after the date hereof, or to
reflect the occurrence of unanticipated events or changes in the
Company's plans or expectations.
Contact: Public / Investor Relations: William A. Young Sr.
Phone: 623-238-5245
In Ovations (CE) (USOTC:INOH)
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