SACRAMENTO, Calif., Aug. 20, 2015 /PRNewswire/ -- Intelligent Highway Solutions, Inc. (OTCQB: IHSI) announces second quarter financial results.
Devon Jones, CEO of IHSI, said, "We are very disappointed in our 10Q results filed yesterday. The Company went through a difficult quarter; we feel the worst is behind us. The recently announced $5 million private equity line of financing will be used to help pay down the existing convertible notes and expand on the pending Honeywell orders. We are also in our final stages of negotiations for a distribution agreement for a revolutionary agricultural grow lighting system. We anticipate the distribution contract to be finalized next week." Mr. Jones continued, "We appreciate the support of our shareholders and will continue to work to get the Company profitable."
About Intelligent Highway Solutions, Inc.
Intelligent Highway Solutions, Inc. was formed in April, 2011. IHSI develops high and low voltage electrical solutions for a variety of platforms. The company performs electrical installations, temperature control systems, communication and wireless integration and advanced lighting systems.
Forward Looking Statements: 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.
Devon Jones, CEO
Intelligent Highway Solutions, Inc.
SOURCE Intelligent Highway Solutions, Inc.