Last $0.08 USD
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innovative software tech inc (INIV) Snapshot

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52 Week High
03/13/14 - $0.19
52 Week Low
12/30/14 - $0.01
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innovative software tech inc (INIV) Details

Innovative Software Technologies, Inc., a development stage company, provides business continuity products and services to the small and medium enterprise market. The company’s business continuity products and services provide disaster recovery solutions for electronic data backup wherein the data and/or applications are available immediately upon failure through means of connectivity to remote server locations. It also provides high availability contract services to large companies, which include hosting services that offer application access to multiple concurrent users, as well as include specialized scheduling and tracking features. The company was founded in 2005 and is headquartered in Tampa, Florida.

1 Employees
Last Reported Date: 09/29/14
Founded in 2005

innovative software tech inc (INIV) Top Compensated Officers

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innovative software tech inc (INIV) Key Developments

SEC Orders Hearings On Registration Suspension Or Revocation Against Innovative Software Technologies For Failure To Make Required Periodic Filings

Securities and Exchange Commission (SEC or the commission) instituted public administrative proceeding to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of Innovative Software Technologies, Inc. for failure to make required periodic filings with the Commission. In this Order, the Division of Enforcement (Division) alleges that the company was delinquent in its required periodic filings with the Commission. In this proceeding, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the company to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 there under, are true. The judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of the company should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in this proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceeding.

Innovative Software Technologies, Inc. Appoints William White as its Chief Executive Officer

On October 9, 2014 Innovative Software Technologies, Inc. appointed William White, 61, to serve as Chief Executive Officer of the company. Mr. White founded BlueStar Marketing in 2009 and serving as its CEO from January 2009 until present.

Innovative Software Technologies, Inc. Announces Board Changes

On August 14, 2014, Pete Peterson resigned as President and a director of Innovative Software Technologies, Inc. His resignation is effective as of close of business on August 14, 2014. Mr. Peterson’s decision to resign from the Board was not the result of any disagreement with company on any matter relating to its operations, policies or practice. On August 13, 2014, the Board of Directors of the company appointed William Barrett Wellman as a director of the company and employed Mr. Wellman to serve as President upon the effectiveness of the resignation of Pete Peterson as President. Mr. Wellman has over thirty years of combined experience as an accountant, controller, chief financial officer, chief information or technology officer and executive. He was Chief Technology Officer for Raffa & Associates. Mr. Wellman has also acted as a financial/accounting consultant.


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