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INNOVATIVE HLDGS ALL INC - $IHAI STOCK NEWS

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Rhea-AI Summary
Innovative Holdings Alliance, Inc. (IHAI) announced the acquisition of all assets of Premergy, Inc., a technology development company focused on global battery power management and energy optimization. The acquisition involved the exchange of 30,000,000 shares of IHAI's common stock for Premergy's assets, including 20 patents covering battery recharging technology. Richard Botts, Premergy's founder, became IHAI's Chief Technology Officer, and William Hayde was appointed Chief Executive Officer. The acquisition aims to continue developing opportunities to showcase Premergy's technology and grow the business.
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Rhea-AI Summary
Innovative Holdings Alliance, Inc. (OTC PINK:IHAI) has entered a non-binding Letter of Intent with Premergy, Inc., a Georgia corporation, to purchase all of Premergy's assets, including its patents, in exchange for shares of IHAI's Common Stock and the assumption of certain liabilities of Premergy. The acquisition is expected to qualify as a reorganization under Section 368 of the Internal Revenue Code of 1986, with the closing anticipated before the end of the year.
Rhea-AI Impact
Rhea-AI Sentiment
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-11.67%
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Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
58.86%
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INNOVATIVE HLDGS ALL INC

OTC:IHAI

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IHAI Stock Data

2.74M
Research and Development in the Physical, Engineering, and Life Sciences (except Biotechnology)
Professional, Scientific, and Technical Services
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United States of America
Alpharetta