Intelligent Highway Solutions, Inc. (OTCBB:IHSI) announced a private placement of convertible debt for gross proceeds of $950,000 on February 13, 2013. The company will issue securities pursuant to exemption provided under Regulation D. Seton Securities Group, Inc. will act as a placement agent and company will pay sales commission of $71,000.

On July 15, 2013, the company announced that it has entered an agreement for convertible note for gross proceeds of $50,000. The notes accrue interest at 10% per annum and are due in July 2015 with no payments due prior to maturity.

On the same day, the company received the amount.

As of August 2, 2013, the company has received $735,000 from 12 investors.