Holiday Island Holdings Inc (OTCMKTS:HIHI) has been in a lot of news since it announced that it was upgrading to become a fully reporting company. Until now, HIHI has retired part of its debt, announced a large number of share repurchase, for return to treasury and the expansion of medical services at its Holiday Island Shopping Center. The company has been slowly transitioning to the real estate sector. Once the transition is complete, HIHI would take care of management, development and marketing of real estate properties in the US.
The company stated that it is going to hire the services of advisors and additional management to complete the upgrade. HIHI hopes that these steps would add to the shareholder value and prevent stock liquidity. At the moment, the advisory tasks have been outsourced, while the management is gathering the resources necessary to complete the upgrade.
Additionally, the company operates the Holiday Island Shopping center, which already has a helipad and two medical units. HIHI now wants to hire more physicians to help enhance the medical facilities at the center. The medical units cater to the needs of the Holiday Island residents and nearby communities. The company has also begun taking care of its debt, with the first debt retirement worth $50,000. Investors and analysts have been delighted by the news, which is being seen as an attempt to clean the company’s balance sheet.
However, the grandest of all news was the return of 280 million shares to the company’s treasury. HIHI repurchased the shares from two major shareholders from the company. It is important to note here that HIHI had a total of 980 million outstanding shares, leading to its severe dilution. It seems that HIHI had already initiated the plans to enhance shareholder value and control its liquidity long before the company started to move for an upgrade.
Holiday Island Holdings Inc (OTCMKTS:HIHI) finished the June 10 session with a gain of 20%, after trading 999.73 million shares to finish the day at $0.00120.