mauiguy2
2 days ago
I have never seen a company that tells shareholders so frequently how hard they work. 🙂 Unfortunately, despite all their hard work, management always seem to come up short.
Having filed for an extension, the ILUS finance team, management and auditors have been working day and night to complete the filing, although unfortunately and disappointingly, the company still requires further time and intends to file its revised 10-K before the end of April.
jedijazz
2 days ago
News: ILUS Provides Form 10-K Filing Update
NEW YORK, NY -- April 17, 2024 -- InvestorsHub NewsWire -- ILUS International Inc. (OTC: ILUS) is a mergers and acquisitions company that is committed to acquiring and growing businesses in the public safety and industrial sectors. ILUS has two publicly listed subsidiaries, Quality Industrial Corp. (QIND) and Emergency Response Technologies Inc. (SAML), in which it holds the majority stake. Following the filing of both QIND and SAML's Form 10-K Annual Reports, ILUS is finalizing its Form 10-K for filing.
Following the decision by its Industrial subsidiary, QIND, to agree to the cancellation of an acquisition, with the decision being made on 1 April 2024 as confirmed in the company's 8-K filing, ILUS was delayed in the filing of its Form 10-K. The delay is beyond the control of the ILUS board and management, and the decision made to agree to the acquisition cancellation is believed to be in the best interests of ILUS Shareholders in the medium to long term.
While ILUS' financials were prepared for filing, the subsequent restatement of QIND's financials which are consolidated by ILUS triggered the very detailed task of restating the ILUS financials. Having filed for an extension, the ILUS finance team, management and auditors have been working day and night to complete the filing, although unfortunately and disappointingly, the company still requires further time and intends to file its revised 10-K before the end of April. While ILUS understands the frustration this causes, this is a very important step considering the previously disclosed uplisting plans of the company and its two subsidiaries. It is therefore imperative that the company is fully compliant to avoid any delays on the effectiveness of future registration statements.
The positive of re-instating its financials is that ILUS will be in a vastly improved position for the fulfilment of its uplist plans. The company and its subsidiaries also intend to file their first quarterly reports before the 15th of May deadline. This is important for the accommodation of planned S-4 Registration Statements following the signing of Business Combination Agreements for the respective planned uplists. ILUS is proactively taking steps to have the quarterly reports filed as soon as possible so that the financials do not go stale during the filing of S-4 Registration Statements which could fall over the 15th of May filing period.
ILUS apologizes to shareholders for any inconvenience caused by the delay and thanks them for their loyal support, patience, and understanding during this period of preparation for a prosperous future.
For further information on ILUS, please see its communication channels:
Website: https://ilus-group.com
Twitter: @ILUS_INTL
Email: IR@Ilus-Group.com
Source: ILUS
Related Links
https://ilus-group.com
Forward-Looking Statement
Certain information set forth in this press release contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission ("SEC") has provided guidance to issuers regarding the use of social media to disclose material non-public information. In this regard, investors and others should note that we announce material financial information via official Press Releases, in addition to SEC filings, press releases, Questions & Answers sessions, public conference calls and webcasts also may take time from time to time. We use these channels as well as social media to communicate with the public about our company, our services, and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, considering the SEC's guidance, we encourage investors, the media, and others interested in our company to review the information we post on the following social & media channels:
website: https://ilus-group.com Twitter: ILUS_INTL
Note: ILUS Coin does not sit within ILUS International Inc (Ilustrato Pictures International Inc), so the public are recommended to follow the correct Media Channels relating to the public company OTC: ILUS
barefootlad
3 days ago
NEW YORK, NY , April 10, 2024 (GLOBE NEWSWIRE) -- via NewMediaWire -- ILUS International Inc. (OTC: ILUS) is a mergers and acquisitions company that is committed to acquiring and growing businesses in the public safety, industrial, defense, and renewable sectors. ILUS has two subsidiaries, Quality Industrial Corp. (QIND) and Emergency Response Technologies Inc. (SAML), in which it holds the majority stake. QIND functions as ILUS' Industrial subsidiary, while SAML functions as its Public Safety subsidiary.
The ILUS Board of Directors has recently approved the uplisting of both subsidiaries by reverse merger, following progress in discussions with National Exchange listed companies. Additionally, the board has approved the distribution of an equity dividend in the form of SAML shares to ILUS Shareholders of record on a date to be defined.
SAML has acquired seven public safety businesses from ILUS, and the subsidiary is in the process of completing an important new acquisition to be incorporated into its uplist plans. QIND has acquired a 51% interest in Al Shola Gas , which delivered nearly $11 million in revenue and $1.8 million in net income in 2023.
Both QIND and SAML are currently in late stages of discussions with National Exchange listed companies regarding reverse merger agreements. The parties are progressing with their due diligence, following which the subsidiaries intend to sign Business Combination Agreements (BCA) with the respective National Exchange listed companies. Once the BCAs are signed, the National Exchange listed companies will file their S-4 Registration Statements, which will include registration of the QIND and SAML shareholders' shares. Valuations will be confirmed by fairness opinions obtained from a team of approved experienced independent financial experts.
After completion of the two subsidiary uplists, ILUS expects to complete its own uplist. This current strategy allows ILUS and its subsidiaries to move to a National Exchange without effecting a reverse-split and obtain maximum Shareholder value.
ILUS owns 77,669,078 common QIND shares and 150,753,425 common SAML shares, as well as 350,000 Series B shares converting into 350,000,000 common shares. ILUS also owns 10 million common shares of a public entity which is expected to soon sign a Letter of Intent for a Reverse Merger with a NASDAQ listed company in the very near future.
The ILUS Board believes that it is critical for its subsidiaries to complete their uplists first in order to obtain maximum value for ILUS shareholders. This will considerably strengthen ILUS' balance sheet, allowing ILUS to obtain a substantially more favorable valuation, which is integral to the success of an uplist. This follows progress made since the company’s statement made on 29 December 2023 , that it had signed a non-binding term sheet with a NASDAQ company “for purposes of further exploring the merger opportunity for ILUS or its subsidiaries”.
Having also entered into and continued discussions with additional National Exchange listed entities, ILUS management has worked extremely hard to achieve this significant milestone for the company and its Shareholders and is pleased with the progress towards delivering this ongoing objective. ILUS remains dedicated to creating maximum value for its Shareholders and will be making their respective announcements and providing ongoing shareholder updates, including timeframes, throughout the respective reverse merger processes.
While the journey has taken considerably longer than anticipated, this has not deterred the ILUS management team, and has in fact allowed the company to execute several strategic moves which considerably enhance its valuation. ILUS believes it is essential that moving to a National Exchange creates maximum value for Shareholders in all the subsidiaries and ultimately at the parent company level. The company maintains that it will not compromise on executing its uplists in a stable and robust manner with the Shareholders best interests in mind, even if this has meant it has taken a longer period of time.
In a further progress update, the ILUS Board has approved the payment of a SAML equity dividend to ILUS shareholders of record. A portion of its SAML Series B shares will be distributed to ILUS shareholders. The company plans to make an announcement followed by commencement of the registration process for the equity dividend.
creakyhottie
1 week ago
Jedi
Yes, this company is truly the "cream of the crap"
What about this crap from Jan 29 (highlighting is mine)
As previously mentioned, ILUS has been in discussions with a NASDAQ listed company
regarding a potential Merger agreement. Discussions continued during our meetings with
the NASDAQ company in the US last week and we can confirm that considerable progress
has been made. Currently our legal counsel is working with theirs to iron out the finer
details of the deal structure and both parties aim to sign a legally binding agreement very
soon with the intention that the deal be completed and effective before March 31st filings
are due. We believe that this NASDAQ strategy for ILUS will be beneficial to all Shareholders,
including those of our subsidiaries, QIND and SAML, as it would deliver funding that will
allow us to expedite our plans across the subsidiaries and their operating businesses.
And then this from Feb 1
We are writing to notify you that there has been a 50 million share conversion in return for
a $600,000 investment into ILUS. As much as this is disappointing for Shareholders and it is
something we certainly preferred to avoid, it is a necessary evil as we require this
investment to complete an important deal which is pending. We are expecting to announce
a major step forward for our group and we believe that this event will be the first in a series
of events which add the first major tranche of Shareholder value that we have been working
towards since our first Shareholder meeting in January 2022.
This investment allows us to realize the much-needed capital required to get over the final
speed bumps and execute this transaction swiftly. While we understand it is still
disappointing for shareholders, we are confident that the lasting value delivered almost
immediately far supersedes the short-term disappointment of this conversion.
The current progress being made allows us to achieve our goal sooner and more efficiently
while avoiding a reverse split.
creakyhottie
1 week ago
Valuestream
I understand your feelings. However, they may not want to issue a dividend until the merger is a certainty.
On the other hand, their wording sounds like they have already approved it, so maybe they will do it earlier.
The question is---what will it mean to the ILUS investor? They state the dividend will be from the 350,000 Series B stock
(which are convertible into 350 million common). Will they convert first and then issue the common? Will they issue the Series B straight out? Are there restrictions to converting the Series B? The PR stated:
In a further progress update, the ILUS Board has approved the payment of a SAML equity dividend to ILUS shareholders of record. A portion of its SAML Series B shares will be distributed to ILUS shareholders.
So not all of it will be distributed. And of amount distributed, what will be the dividend ratio??? Even after you get the shares (pre-merger), what further ratio will there be in the merger exchange? For example ONLY, let's say they declare a dividend of 10 SAML shares for every 1,000 ILUS shares, and assume one owns 1,000 shares of ILUS, you would get 10 SAML shares as a dividend. But then in the reverse merger, you may get 1 new share for every 10 shares of SAML. So after all is said and done, you will own one share of that Naz company.
Inquiring minds would like to know.
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