SOURCE: IAHL Corporation

March 18, 2008 01:00 ET

IAHL Corporation Will Reduce Its Authorized Shares Significantly Effective Immediately

CAPE CORAL, FL--(Marketwire - March 18, 2008) - IAHL Corporation (PINKSHEETS: IAHL) announced today that its Board of Directors has approved an immediate reduction of its Authorized Shares by 25 Million.

The Company's current Share structure is 55 Million Shares Authorized upon the filing of all required Corporate Resolutions with The Secretary of State the Authorized Shares will then be 30 Million.

The current Share structure is 25,501,732 Outstanding with 2,174 Restricted and 2,000,000 Preferred Shares. It is the intent of the Company that after its previously announced Buyback of 8,000,000 Shares, upon completion the company will then further reduce its Authorized Shares to 20 Million.

The Company's objective is to eventually reduce its Authorized Shares to a total of 10 Million; this is being implemented to coincide with the closing of an upcoming major acquisition that will give the company a major balance sheet/financial presence.

Once all of these actions are concluded the Company will update thru all certified documentation the exact numbers to its Transfer Agent.

Peter Van Dyke, Chairman, said, "All of this is being fast tracked to meet certain requirements for an up coming closing, it is the intent and requirements of its Bankers that the company position its self so that it could meet the required criteria to apply to the NASDAQ Small Cap Board."

Mr. Van Dyke also stated, "The Company is reasonably certain that it will achieve these requirements and will aggressively pursue its overall business plan."

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Contact Information

  • IAHL Corporation
    Investor Relations
    Phone: 239-277-3883
    Fax: 239-283-4843