DORAL, FL - February 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.
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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.
Public / Investor Relations:
William A. Young Sr.
SOURCE: In Ovations Holdings, Inc.