IHT ADDS $3 MILLION IN EQUITY AND REDUCES DEBT TO STRENGTHEN BALANCE SHEET; REVERSE MERGER DISCUSSIONS CONTINUE
InnSuites Hospitality Trust has converted $3 million of debt to equity, boosting its total equity above NYSE American's minimum requirement and reducing debt, thereby improving financial stability. The Trust reported record hotel revenues and increased net income for the first fiscal quarter, while pursuing strategic alternatives including potentia…