Interactive Health Network -- Shareholder Update for Additional Debt Restructure and Statement on the Re-Focus of the Company's Business Activities on the Health and Wellness Market
(firmenpresse) - RENO, NV -- (Marketwired) -- 12/16/14 -- INTERACTIVE HEALTH NETWORK (OTC PINK: IGRW), a health company specializing in advances in Supplements for Health and Anti-Aging, today announced that is has completed an additional conversion of $711,712 of notes payable to preferred stock. This conversion completes the Company's restructuring of $961,712 of notes payable to equity in the form of preferred stock. The effective terms of the conversion are a lock-in for a one year period on the preferred stock with an effective rate of $.01, while currently the price of the common stock is one fifth of this effective rate. Also, if at the time of conversion the price of the common stock is less than $.01, the holder of the preferred stock would receive a forty percent discount to the closing bid price.
"It was our goal to get Interactive Health Network free of all outside debt prior to December 31, 2014. A balance sheet clear of outside debt supports a platform for growth in our core supplement and health products. Additionally, this will allow the Company to bring additional funding to accelerate the monetization its existing businesses and assets," as previously stated by Fred Schiemann, President and CEO of Interactive Health Network.
Interactive Health Network has not abandoned future plans to be in the legal medical marijuana market. However, as previously announced, the Company determined that it is in the best interest of its shareholders and management team to divest of its Managed Service business until such time that medical marijuana is federally reclassified or legalized, or clarifications on public companies role in this burgeoning market are made clear. Interactive Health Network will continue to evaluate and pursue business options in the medical marijuana market for future endeavors at the appropriate point in time. There are various federally legal cannabinoid based pain products that the company is evaluating for addition to its health product lines.
Interactive Health Network is a publicly traded holdings company that manufactures, markets and sells high quality lifestyle products and nutraceuticals. We plan on extending and deepening our product lines to include other progressive market segments through acquisitions and organic growth of existing product lines. We operate under strict levels of quality and operate with the highest level of integrity in all of our businesses. Interactive Health Network is publically traded on the OTC market under the symbol IGRW.
The Company specializes in advances in Supplements for Health, and Anti-Aging with a special interest in Preventative Medicine. The Company was formed to distribute nutraceutical formulas developed over thirty years of research by world renowned team of UCLA scientists. Wellnessbuilder scientists have created more than a dozen fucoidan-based formulas which are intended to address the needs of individuals suffering from DDS (Degenerative Disease Syndrome), which includes such maladies as gastrointestinal disorders, auto-immune diseases, asthma, Alzheimer's, dementia, diabetes, arthritis, cancer, and heart disease.
HWGS is a leader in the Indoor Garden and Hydroponics Industry as a national retailer of horticulture equipment and growing supplies headquartered in Denver, Colorado. Specializing in e-commerce worldwide, the company's website is a state of the art online retail store where you can purchase all the leading Nutrients, Growing Lights, and Air controllers necessary for indoor gardening. Here We Grow Store has exclusive Distributor pricing of high quality nutrients and grow lights that are distributed in the US and Worldwide. For more information please visit
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.
Contact for this Press Release:
Fred Schiemann
Marketing/Public Relations
(775) 830-3663
Email: ;
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Datum: 16.12.2014 - 14:16 Uhr
Sprache: Deutsch
News-ID 359783
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RENO, NV
Kategorie:
Farming
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