SOURCE: Innovative Health Sciences, Inc.

May 04, 2010 09:00 ET

Innovative Health Sciences, Inc in Talks With Suitor for Sale of Company

CLEARWATER, FL--(Marketwire - May 4, 2010) -  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 a majority stake 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. The deal characterizes an attractive package with an offer suggested to be substantially above the current trading range. While the Board has come to no conclusions, the final consensus was very favorable. In deciding on proceeding with the sale, the Board has concluded to consult with its legal counsel as to whether the Board has the authority to accept the offer, or whether a shareholder meeting must be called to vote on the matter.

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 Information

  • Contact:
    Chris Winter
    President
    Innovative Health Sciences, Inc.
    Tel: 727-230-1036 #157