H & H Imports Inc. announced yesterday that their Board of Directors and shareholders holding a majority of their common stock approved a change in the Company’s name to IBC Global, Inc. The Company has filed an information statement with the Securities and Exchange Commission (SEC) relating to the name change. The Company is a leading developer and distributor of products and services. They do this mainly through infomercials and other direct response channels of distribution.
One of their subsidiaries, “Inventors Business Center, LLC” (IBC), was founded to capitalize on the significant number of products and product ideas that were being offered to Company Chairman, Kevin Harrington. This was due to his many appearances on the national network broadcast show, “Shark Tank.” Kevin Harrington has wide recognition as the pioneer and principal architect of the “infomercial” industry. Mr. Harrington is an investor on the ABC show “Shark Tank.” On this show, budding entrepreneurs compete in pitching their potentially moneymaking ideas to business experts in hopes of securing investment financing.
The IBC subsidiary charges cash fees to product owners/inventors for product development and marketing. This potentially generates a consistent revenue stream for the subsidiary. The Company also acquires a significant percentage of the equity in or profits from the product. Therefore, they are “sharing the product development risk” of the product with the inventor/owner, instead of shouldering it on its own.
The Company is changing their name to “IBC Global, Inc.” to reflect their current business more accurately. This is because of the success so far of IBC, and the Company’s intention to open multiple IBC offices on a worldwide basis.
Furthermore, the Company released details of their business plan and their Alternative Public Offering (APO) which was accomplished by completing their previously announced Agreement and Plan of Merger by and between H&H Imports, Inc. (H&H) TV Goods Holding Corporation and a subsidiary of H&H. The wholly owned subsidiary merged with TV Goods and TV Goods continues to operate their business as a wholly owned subsidiary of H&H.
H & H Imports Inc. (to become IBC Global, Inc.) finds, develops, markets and distributes products and services. Normally, they initially launch via infomercial and other direct response methods of distribution. They subsequently expand into all other channels of distribution, on a global basis.