Innovative Holdings Alliance, Inc. (OTCPK:IHAI) executed a non-binding Letter of Intent to acquire the Assets of Premergy, Inc on December 11, 2023. Innovative Holdings Alliance, Inc. entered into an asset purchase agreement to acquire the Assets of Premergy, Inc on December 30, 2023. Under the terms of the Letter of Intent, the Company will purchase all of the assets of Premergy, including its patents, in exchange for shares of the Company's Common Stock, and the assumption of certain liabilities of Premergy. Pending the completion of remaining due diligence by both parties, the closing of the Acquisition is expected to occur before the end of 2023.

Innovative Holdings Alliance, Inc. (OTCPK:IHAI) completed the acquisition of the Assets of Premergy, Inc. for $13.5 million on January 18, 2024. Innovative Holdings Alliance acquired assets of Premergy following customary due diligence by both parties in exchange for the issuance of 30,000,000 shares of Innovative Holdings Alliance's common stock to Premergy shareholders, and the assumption of certain Premergy debts. Per the terms of the acquisition, Richard Botts, Premergy's founder and inventor, became the Company's Chief Technology Officer and William Hayde was appointed Chief Executive Officer, following the resignation of M. Chris Winter.