Innovative NeuroTechnologies, Inc. submits grant application to the Alzheimer's Drug Discovery Foundation (ADDF) along with key academic collaborators Hana N. Dawson, Ph.D. at Duke University and Lester I. Binder, Ph.D. at Northwestern University for testing of novel peptide vaccine and mouse monoclonal antibody against the N-terminus/PAD region of the tau protein in relevant animal models for tau in Alzheimer's disease (AD) and other related tauopathies.

Innovative NeuroTechnologies, Inc. appoints Lester I. Binder, Ph.D. as a member of its growing Scientific Advisory Board (SAB). Dr. Binder is Professor in the Department of Cell and Molecular Biology at Northwestern University Medical School. He is an internationally recognized expert in the field of tau protein biology and the role of tau in neurodegenerative tauopathies, such as Alzheimer's disease (AD) and human Frontal Lobe Dementias.

Shawn Mojtahedian, Ph.D. registered to attend the upcoming Tech Coast Angels sponsored "Quick Pitch" event at the Irwin M. Jacobs Qualcomm Hall in San Diego on Thursday, October, 6, 2011 from 6:00 to 9:00 PM.

Shawn Mojtahedian, Ph.D. of Innovative NeuroTechnologies, Inc. is registered to attend the upcoming San Diego Entrepreneurs Exchange (SDEE) Roundtable "Starting and Supporting a Business With Grants" on Wednesday, September 28, 2011 at the Johnson & Johnson Auditorium in San Diego.

Innovative NeuroTechnologies, Inc. registered to attend the upcoming Changsha Hi-Tech Zone in China sponsored meeting and reception "LuValley - You First Choice to Invest in Central China for Biological & Pharmaceutical Business" at the Hotel Embassy Suites in San Diego on Friday, September 30, 2011.

Innovative NeuroTechnologies, Inc. adds Gary S. Lynch, Ph.D. as a member of its growing Scientific Advisory Board (SAB). Dr. Lynch has been a Professor in the Department of Psychobiology at the University of California, Irvine (UCI) since 1969, including the UCI Center for the Neurobiology of Learning and Memory. He is also currently ranked as Professor "above scale" in the Department of Psychiatry and Human Behavior at UCI. Dr. Lynch is a member of the Neuroscience Society and the International Brain Research Organization (IBRO), and advisory board member for the Cognitive Neurosciences Institute and JPL/NASA. Dr. Lynch has authored and co-authored over 500 articles and a number of books in the areas of neurobiology, cognition, and memory. In 2002, he was recognized as “A Most Cited Researcher” by the Institute for Scientific Information (ISI Thomson). Dr. Lynch holds a B.A. in Psychology from the University of Delaware and a Ph.D. in Psychology from Princeton University. He is a co-founder of Synaptics, Inc., Tensor Biosciences, and Thuris Corporation, all privately-held companies.

Innovative NeuroTechnologies, Inc. appoints Vincent F. Simmon, Ph.D. as Chief Executive Officer (CEO) of its continuously expanding and experienced management team. Dr. Simmon has been a part of the biotechnology industry since 1979 assisting in the development of numerous products, particularly in the central nervous system (CNS) area, and rapid growth of companies. During his long and distinguished career, Dr. Simmon has held the position of CEO and various other top level management positions (e.g., COO, CFO, etc.) for a number of both public and private companies, including Prototech, Alpha 1 Biomedicals, Cortex Pharmaceuticals, Merrimack Pharmaceuticals, and more recently Xytis Pharmaceuticals. Dr. Simmon received his B.A. in Biology and Chemistry from Amherst College, M.S. in Plant Physiology from University of Toledo, and Ph.D. in Molecular and Microbiology from Brown University. He has also participated in MBA Executive Management Programs at Stanford University and W.R. Grace & Co.

Innovative NeuroTechnologies, Inc. registered to attend the upcoming 12th Annual SoCalBio Investor and Partnership Conference at the J.W. Marriot of LA Live in downtown Los Angeles on Thursday November 4th. A poster presentation for the company will also be displayed at the "Innovation Alley" during the conference.

Innovative NeuroTechnologies Terminates Plan to Go Public LOS ANGELES and FRANKFURT, Germany, October 22, 2010 – PHI GROUP, INC. (OTCBB:PHIE) (Frankfurt:PR7) (XETRA:PR7) (WKN A0RNQV), www.phiglobal.com, an M & A company with diversified holdings in real estate development, energy, natural resources and special, announced today that both the Company and its client Innovative NeuroTechnologies, Inc. (INT) have mutually agreed to terminate the previously announced consulting agreement to list INT’s shares on a leading European stock market and arrange funding for INT’s further development and growth. Innovative NeuroTechnologies is a biotechnology company based in Irvine, CA engaged in the early-stage clinical development of novel therapeutic strategies for major human central nervous system disorders, particularly in the area of neurodegeneration. According to the termination agreement, PHIGroup will release INT from all obligations pertaining to any compensation for the services rendered as previously announced in December 2009. Shawn Mojtahedian, Ph.D., Founder, Director and Chief Scientific Officer of Innovative NeuroTechnologies, commented, "We strongly feel that INT should explore different funding options because further delay in accessing the European capital markets could hinder our future success. We appreciate PHI Group’s intention to help us in the past and we should prudently consider our next step for the benefit of our shareholders.” About PHIGroup, Inc. PHIGroup (OTC.BB:PHIE - News) provides M&A advisory and consulting services, develops real estate and natural resources and invests in special situations. PHIGroup, which specializes in raising capital and helping take companies public, is developing PHILand Ranch, one of the largest master planned communities in Vietnam. This project includes Pointe91, a luxury resort and premium residential community in Quang Nam province in central Vietnam (www.PHILandranch.com). PHIGroup is also engaged in mining activities through its majority-owned subsidiary PHI Mining Group, Inc. (www.phimining.com). Website: www.phiglobal.com. About Innovative NeuroTechnologies, Inc. (INT) INT is primarily an early-stage clinical development biotechnology company that seeks novel therapeutic solutions (i.e., biopharmaceuticals, stem cells) for major human central nervous system disorders, particularly in the area of neurodegeneration. The company presently focuses its main efforts on Alzheimer's disease with interest in therapeutic solutions for Parkinson's disease, amyotrophic lateral sclerosis (ALS or Lou Gehrig's disease), Huntington's disease, front temporal lobar dementias (FTLDs or Pick’s disease), stroke and multiple sclerosis. These are typically fatal neurodegenerative disorders that are currently untreatable and share many characteristics, which make them particularly amenable to INT's expertise and employed technologies. http://www.innovneurotech.com/ Safe Harbor: This news release contains forward-looking statements that are subject to certain risks and uncertainties Such forward-looking statements are based upon management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected, on the basis of such forward-looking statements. Contact: Henry D. Fahman (714) 843-5455 henry@phiglobal.com

Innovative NeuroTechnologies, Inc. registered to attend the upcoming BIOCOM sponsored CALAsia Conference on October 4-5th at the San Diego Marriott Hotel and Marina in San Diego, CA.