The Following is a history of events since inception of IBAC Corporation (Pink Sheets:ICAN)
___________________________________________________________ Oct 5, 2004 IBAC Corporation (Pink Sheets:ICAN) today announces that a new management team has been appointed with stock ownership in the corporation and will operate a group of premier dining establishments within IBAC Corporation. Edward W. Hayter is the new president and CEO of IBAC Corporation which trades under the symbol ICAN. Mr. Hayter said: "he is enthusiastic about the future of acquisitions & mergers into the company and enhancement of shareholder value".
Oct 6, 2004 IBAC Corporation (OTC:PK: ICAN) has entered into a definitive letter of intent whereby IBAC will acquire a majority control interest in The Sanibel Restaurant Group, Inc. The transaction, is subject to a definitive agreement and due diligence. Closing is expected December 2004. Edward W. Hayter president and CEO of IBAC Corporation said: "we are enthusiastic about this acquisition. It is the first phase of our business plan."
Oct 12, 2004 IBAC Corporation (OTC.PK: ICAN) announced today that it has signed an agreement with SmallCapVoice.com to assist in implementing a comprehensive investor relations program for the company. SmallCapVoice.com, Inc. Stuart T. Smith, 760-643-1946 760-643-1947 (fax)
Oct 19, 2004 IBAC Corporation (OTC.PK:ICAN), a restaurant owner/operator and management company, today announced that it has signed the contracts (which are subject to audit) to acquire a majority interest in The Sanibel Restaurant Group, Inc.
Oct 20, 2004: ICAN - IBAC Corporation Has Executed Contracts to Acquire the Sanibel Restaurant Group, Inc. as Previously Announced by a Definitive Letter of Intent! The acquisition consists of three upscale steakhouses located in Ft. Meyers, Bonita Springs & Naples, Florida. The acquisition is a three phase contract with the first of the restaurants scheduled to close on or before December 31, 2004 upon completed acquisition of all three restaurants the anticipated gross revenue to the company should be in excess of eight million dollars a year.
Oct 25, 2004 IBAC Corporation (OTC.PK:ICAN), today announced that it has retained the services of Bagell, Josephs & Company as auditors & financial advisors. "We are pleased to engage the services of Bagell, Josephs & Company as auditors & financial advisors. As a well respected accounting & auditing firm we will rely on their expertise and experience for the current acquisition of The Sanibel Restaurant Group, Inc. and further acquisitions and/or mergers," said Edward W. Hayter, IBAC President & CEO."
Nov 8, 2004 IBAC Corporation (OTC:PK:ICAN) has entered into a definitive letter of intent whereby IBAC will acquire a majority control interest in National Hospitality Services Co., Inc.
Nov 16, 2004 IBAC Corporation (OTC.PK:ICAN), today announced that it has signed the contracts (which are subject to due diligence) to acquire a majority interest in National Hospitality Management Services Co., Inc. as previously announced. The acquisition consists of a management company that will operate two restaurants, lounge and over eight thousand square feet of banquet space within a major hotel. The Hotel is part of the Pine Bluff Convention Center complex in Pine Bluff, Arkansas the anticipated gross revenue to the company should be in excess of four million dollars a year.
___________________________________________________________ Nov 17, 2004 IBAC Corporation (ICAN) announced today that Mr. Karl Wenzel has been named President & Chief Operating Officer of The Sanibel Restaurant Group, Inc. Prior to joining The Sanibel Restaurant Group, Mr. Wenzel served as President of Caleric Corporation a private holding company with interests in the hospitality industry. Mr. Wenzel has over thirty years of industry experience, with service to the Marriott Corp & Royal-Caribbean Cruise Lines. While receiving his Master Chefs designation in 1971 from the famous Steigenberger Hotel & Management School. Mr. Wenzel was designated by The Chaine des Rotisseurs in Paris and is also a member of the Maitre de Cuisine of France, The Etol of Escoffier, and World Master Association in Singapore. He has also hosted television shows on PBS & The Family Channel and has authored three books published in five different languages.
Nov 18, 2004 IBAC Corporation (Pink Sheets:ICAN), a restaurant owner/operator and management company, today announced that it has signed the contracts (which are subject to due diligence) to acquire a majority interest in National Hospitality Management Services Co., Inc. as previously announced.
Nov 29, 2004 IBAC Corporation (ICAN.PK) has completed the Acquisition of National Hospitality Management Services Co., Inc. a food service management/operator of restaurants, banquet facilities and a lounge. This follows the announcement on November 18, 2004 of the signing of agreements regarding the acquisition. IBAC Corporation will operate its majority ownership interest as a subsidiary. The acquisition has been funded with restricted securities and is expected to generate revenues immediately
___________________________________________________________ Nov 30, 2004 IBAC Corporation (ICAN) announced today that Mr. Gary D. Becker has been named President & Chief Operating Officer of its National Hospitality Management Services Co. subsidiary.
Prior to joining National Hospitality Management Services Co., Mr. Becker served as President of International Hotel Management Corporation of Canada a company with interests in the hospitality industry.
Mr. Becker has over twenty five years of industry experience, with service to Drake International & the award winning Royal Brock Hotel Spa & Sports Club. While receiving his Degree in Business Administration from Waterloo Lutheran University. (Honors Accounting and Economics) Mr. Becker has served as Director of several recognized organizations the Brockville Museum Board, Brockville Center for The Arts, Brockville Symphony, Brockville Chamber of Commerce, Halifax Board of Trade, Greater Boston Chamber of Commerce, and Brockville Historical Society.
Dec 2, 2004 National Hospitality Management Services Co., Inc., a food service management/operator of restaurants and banquet facilities, a subsidiary of IBAC Corporation (ICAN.PK) today announced their first quarter of 2005 event calendar.
"We are very pleased with the bookings so far for the first quarter said Mr. Gary Becker," President & COO of National Hospitality Management Services Co. "We expect to add more events to this schedule within the next couple of weeks."
Prince Hall Grand Lodge Regional Convention (Masons) Arkansas Kennel Club, Dog and Kennel Show University of Arkansas Shrine Convention 4 Separate Quarter Horse Rodeos Future Business Leaders of America Arkansas Christian Athletics Assoc Jamboree Square Dancers Minority Initiative (UAPB) Black Pilots of America
The company today also announced that they have retained the services of Carkoff Interior Design of Memphis, Tennessee a very prominent design firm to advise on their facilities.
Dec 7, 2004 IBAC Corporation (ICAN.PK) announced today that during a Special Meeting of the Board of Directors the Company approved a 1 for 100 forward split of the Company's common stock.
The forward stock split will be effective on or about January 7, 2005. Stockholders will be entitled to one share of common stock for each one hundred shares of common stock held on that date. The proposed stock split is subject to regulatory approval
December 8, 2004 IBAC Corporation (Pink Sheets:ICAN) announced yesterday that during a Special Meeting of the Board of Directors the Company approved a 1 for 100 forward stock split of the Company's common stock (announcement).
The forward stock split will be effective on or about January 7, 2005. (Clarification) Shareholders will get one share of common stock for each one hundred shares of common stock they own on that date. The proposed stock split is subject to regulatory approval. The company apologizes for any confusion that the announcement may have caused.
"This forward stock split is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership and enhance shareholder value."
The company has received hundreds of calls regarding several issues first and for most is the question of a reverse split the company has no plans of a reverse split, secondly the company has been asked about any involvement of a Mr. Chris Astrom and/or Mr. Richard Astrom neither men have any involvement in management or ownership of this company furthermore if anyone persists in implying this the company will pursue any and all legal remedies.
The company has also been asked are we going to do anything to get the company noticed to the investment community. The company elected to reward current shareholders with a bonus and also bring attention to the company with the same bonus for potential new investors, as the company refuses to employ any stock promoters etc. as this is not in the company's or shareholders best interest.
Dec 14, 2004 IBAC Corporation (ICAN.PK) announced today the status and progress of the company's business and activities.
The record date for the forward stock split will be January 7, 2005. Stockholders will receive one additional share of common stock for each one hundred shares of common stock held on that date. The mail date for the additional shares will be February 1, 2005.
"This forward stock split is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership and enhance shareholder value."
The scheduled closing date for the first phase of The Sanibel Restaurant Group will be January 4, 2005 at that time the company will take possession of The Ft. Meyers, Florida property. This date was chosen for tax purposes by the sellers.
The company is also bidding on certain food service & concession contracts at various arenas and expects the results of these bids by January 15, 2005.
The company has revamped its web site to better reflect the companies business and to better provide information for its shareholders and customers and will be up and available for viewing by tomorrow 12/15/04.
Dec 20, 2004 IBAC Corporation (ICAN.PK) announced today that during a Special Meeting of the Board of Directors the Company approved an increase of a nine percent (nine share) stock dividend to be paid simultaneously with the previous announced dividend of one share.
The share dividend will be effective on January 7, 2005. Stockholders of record will now be entitled to an additional ten shares of common stock for each one hundred shares of common stock held on that date. The proposed stock dividend is subject to regulatory approval.
"This Ten percent (10%) stock dividend is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership, bring awareness to the company and enhance shareholder value."
Dec 21, 2004 IBAC Corporation (ICAN.PK) announced yesterday after the bell that during a Special Meeting of the Board of Directors the Company approved an increase of a nine percent (nine share) stock dividend to be paid simultaneously with the previous announced dividend of one percent (one share).
The share dividend will be effective on January 7, 2005. Stockholders of record will now be entitled to an additional ten shares of common stock for each one hundred shares of common stock held on that date. The proposed stock dividend is subject to regulatory approval.
"This Ten percent (10%) stock dividend is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership, bring awareness to the company and enhance shareholder value."
The Company would also like to address certain shareholder questions and concerns that have been presented;
Regarding Mr. Richard/Chris Astrom neither man has a management or ownership position with the company as previously stated.
The company will be closing on the first of its three Sanibel Steakhouse Restaurants per the previously announced contract terms on January 4, 2005 and will take possession of that property immediately this will add revenue to the company of 2M dollars plus per year for that location.
The National Hospitality Management Services Co. subsidiary has been awarded certain contracts that will be finalized by January 15, 2005 which brings revenue to the company of approximately 4M dollars plus.
The company intends to become a fully reporting company within the next six months.
The company feels that with its current businesses and contracted acquisitions it will have a balance sheet to support a move to either the otcbb or the nasdaq small cap exchanges within the coming year.
Current Management has been in control of this company for approximately three months and intends to build the company according to their stated business plan and if any person or persons continue to liable, slander, present misinformation or otherwise act in a fashion that is detrimental to the company or its shareholders The Company will seek full retribution of the law.
Dec 22, 2004 IBAC Corporation (Pink Sheets:ICAN) previously announced that during a Special Meeting of the Board of Directors the Company approved an increase of a nine percent (nine share) stock dividend to be paid simultaneously with the previous announced forward split of one percent (one share).
The share dividend is a forward split and will be effective on January 7, 2005. Stockholders of record will be entitled to an additional ten shares of common stock (free trading) for each one hundred shares of common stock held on that date; shareholders of restricted shares will not receive any additional shares. The proposed forward split is subject to regulatory approval.
Jan 3, 2005 IBAC Corporation (ICAN.PK) today announced that during a Special Meeting of the Board of Directors the Company approved retaining the services of Grubb & Ellis Company one of the nation's largest commercial real estate services firms. Through its offices and affiliates in approximately 90 markets, they provide a full range of real estate services.
"Our Company is very excited about retaining the services of Grubb & Ellis," said IBAC Corporation President & CEO Edward W. Hayter. "As this will help us accelerate our stated business plan and growth objectives. IBAC through its Sanibel Restaurant Group subsidiary intends to grow its brand by acquiring other comparable restaurants and or developing new locations."
Jan 4, 2005 The Sanibel Restaurant Group, a subsidiary of IBAC Corporation (ICAN.PK), announced today that it has completed the acquisition of phase one of the Sanibel Steakhouses contract as previously announced.
"This completed acquisition will add 2.5M in revenue annually to the company and 35 employees immediately, the company has taken possession of the Ft Meyers property as owner/operator effective today." said Karl Wenzel, president of The Sanibel Restaurant Group.
The second phase of the Sanibel Steakhouse acquisition is expected to be completed on or before April 1, 2005 and that will add another 3.5M in revenue and 40 employees with the third and final phase being completed on or before July 30, 2005 adding an additional 2.5M in revenue and 30 employees, total value of the completed acquisition to the company will be revenue of 8.5M per annum with 105 employees.
Through its operating companies, IBAC Corporation owns/operates and manages restaurants & food and beverage service contracts; the company intends to become a fully reporting company by the end of the second quarter of 2005 with a balance sheet directed towards the nasdaq small cap.
The company is currently negotiating other acquisitions and expect to have completed contracts very shortly. It is the intent of the company to increase its Sanibel brand throughout Florida.
Jan 10, 2005 The Sanibel Restaurant Group, Inc. a subsidiary of IBAC Corporation (PINK SHEETS:ICAN), announced today that it has received an unsolicited offer for The Sanibel Restaurant Group, Inc.
"This offer by a fully reporting public company is unsolicited and only reinforces our belief that we are undervalued as a company" said Karl Wenzel, president of The Sanibel Restaurant Group, Inc.
The company will review the offer and determine if it is in the best interest of the company and its shareholders, The Sanibel Restaurant Group, Inc. upon completion of its contracted obligations will have 135 employees and revenue of 7.5M per year.
Jan 11, 2005 The Sanibel Restaurant Group, Inc. a subsidiary of IBAC Corporation (ICAN.PK), announced today that they have reviewed the offer for The Sanibel Restaurant Group, Inc. "This offer by a fully reporting public company is unsolicited and only reinforces our belief that we are undervalued as a company, we have reviewed the offer and are negotiating the terms as the offer stands right now it has a net value to the shareholders of 0.03 per share" said Karl Wenzel, president of The Sanibel Restaurant Group, Inc.
Jan 12, 2005 The Sanibel Restaurant Group, Inc., a subsidiary of IBAC Corporation (ICAN.PK), announced today that the Board of Directors has reviewed the offer for The Sanibel Restaurant Group, Inc. and has concluded it inadequate.
"This offer by a fully reporting public company is unsolicited and only reinforces our belief that we are undervalued as a company, the Board of Directors has reviewed the offer and have countered the terms". Said Karl Wenzel President of The Sanibel Restaurant Group.
The company countered the offer based upon the pre tax proceeds to the company. The offer valued at 6.45M would have resulted in a pre tax profit of only 1.25M to the company which is well below industry multiples.
Jan 13, 2005 National Hospitality Management Services Co., Inc. a food service management/operator of restaurants, banquet facilities and food & beverage services co. a subsidiary of IBAC Corporation (ICAN.PK) today announced their updated first quarter of 2005 event calendar.
"We are very pleased with the contracted services/events so far for the first quarter", said Mr. Gary Becker President of National Hospitality Management Services Co. "We expect to be adding more events to this schedule within the next couple of weeks."
Arkansas Kennel Club, Dog and Kennel Show University of Arkansas Shrine Convention 4 Separate Quarter Horse Rodeos Future Business Leaders of America Arkansas Christian Athletics Assoc Jamboree Square Dancers Minority Initiative (UAPB) Black Pilots of America Department of Labor MPX
These contracted events represent revenue to the company in excess of $250,000.00 for the quarter.
The company today also announced that they have been awarded certain contracts for food & beverage services with a revenue value to the company of 4-5M dollars and will be announced upon executed contracts.
Jan 18, 2005 National Hospitality Management Services Co. a subsidiary of IBAC Corporation (Pink Sheets:ICAN) announced today that Mr. Barry M. Bennett has been named Executive Chef in charge to over see all banquet and food service operations.
Prior to joining National Hospitality Management Services, Mr. Bennett served as Senior Food Service Specialist for Centerpoint a leading food service management company specializing in the management of food and beverage services at larger facilities and convention centers.
Mr. Bennett has over twenty years of food service industry experience; his last assignment prior to joining National Hospitality Management Services was overseeing the opening of the new Corpus Christi, Texas Convention Center food and beverage operations. He has also overseen large operations in Florida and Texas, Mr. Bennett is a graduate of The Culinary Institute of America.
Jan 21, 2005 IBAC Corporation's board of directors have rejected a revised bid, saying it believes the company is worth more than 8.45M.
In citing its rejection of the revised bid, IBAC Corporation (PINK SHEETS:ICAN) said the company is currently trading at the low end of its value, based on its assets, revenue and forecasted future earnings.
The board believes the company has a better plan for stockholders. The unsolicited offer does not begin to reflect the real value, including the value we will create through management's plan to become a fully reporting company and moving up to the OTCBB or a possible reverse merger or a share swap with a fully reporting company, this in combination with the company's current revenue and assets.
"We believe that the rejection of this unsolicited offer is in the best interest of the shareholders as we are pursuing other options to enhance shareholder value, the company is currently preparing audited financials and have instructed the company's attorneys to review two proposed offers of a merger or stock swap with fully reporting companies," said Edward W. Hayter CEO.
The revised bid also valued the company at a price below the rate currently being paid in other transactions in the restaurant/food & beverage industry, IBAC stated. Jan 26, 2005 National Hospitality Management Services a subsidiary of IBAC Corporation (PINK SHEETS: ICAN) and the Pine Bluff Civic Auditorium Complex Commission ( www.pinebluffonline.com) will hold a joint press conference on Thursday, January 27, to announce the awarding of the Exclusive Food, Beverage, Banquet Catering and Concession Agreement for the entire complex to National Hospitality Management Services.
The term of the contract is for (5) years with (4) successive options to renew for a term of (5) years each. The commission also agreed that it will not permit the sale of food, beverage, banquet, catering and concession services at the Convention Center by any other person, firm corporation, or entity other than National Hospitality Management Services while the agreement is in effect. The commission also granted the company exclusive rights the Banquet Hall Kitchen and all equipment.
"We are extremely excited about the awarding of this contract to our company as it will increase revenues by 4-5 million dollars and increase our operations in Arkansas above our existing (2) restaurants (1) lounge and 10,000 sq ft of banquet space." Said Gary Becker President of National Hospitality Management Services.
Jan 27, 2005 IBAC Corporation (Pink Sheets:ICAN) has recently rejected an offer from a company to purchase The Sanibel Restaurant Group. The potential purchaser valued the offer at $8.45 million, but this valuation was never substantiated by any form of independent review.
The unsolicited oral offer consisted of $1,000,000 cash at closing and a share for share exchange or stock swap agreement with the IBAC shareholders for shares in an OTC Bulletin Board company.
The offer did not contain a bid price per share and was not a tender offer.
IBAC's board of directors believes that the value of its current holdings will increase substantially once the company executes certain contracts and takes possession of two additional restaurants. It is IBAC's opinion that the combined value of the three restaurants with the business of its subsidiary National Hospitality Management will be more beneficial to the company, future growth, and the overall well-being of its shareholders.
Feb 2, 2005 IBAC Corporation (PINK SHEETS:ICAN) today announced that they have entered into a definitive letter of intent whereby IBAC will acquire a majority control interest in The Royal Arkansas Hotel & Suites, Inc. the transaction is subject to a definitive agreement and all regulatory approvals.
The Royal Arkansas Hotel & Suites is a 200 room five story atrium Hotel on the grounds of the Pine Bluff Convention Center and is attached to the Convention Center. The Hotel features an indoor swimming pool two restaurants a lounge and 10,000 square feet of banquet space and 4000 sq feet of rent able office space in the lobby area. The hotel has a 23M dollar replacement value and was built in 1989 by Kemmons Wilson the founder of Holiday Inn and is approximately 180,000 square feet in size and holds a full liquor license.
The Pine Bluff Convention Center ( www. pinebluffonline.com) has 90,000 square feet of meeting and exhibit space, the Convention Center is the fourth largest meeting facility in the state of Arkansas. This colossal center features a state-of-the-art arena, an auditorium/theater, banquet hall, spacious lobby area, ample parking, full camper hookups, a beautiful park and the Arkansas Entertainers Hall of Fame.
" We have decided on this acquisition to enhance our holdings in Arkansas as IBAC thru its subsidiary National Hospitality Management Services already holds a (5) year contract with (4) renewable (5) year options for the food beverage, concession & banquet services at the convention center and also manages the food, beverage and banquet operations of the hotel. I am very excited about this acquisition as it gives IBAC exclusive revenue from everyone eating, drinking and lodging in the entire convention center complex to IBAC," said Edward W Hayter President
The Royal Arkansas Hotel & Suites is jointly owned by Turner Hughes Corporation and International Hotel Management. Turner Hughes Corporation is a private Investment Banking Firm owned by Edward W Hayter President of IBAC Corporation.
The company also keeping with its aggressive plan for growth over the next three years is in the preliminary stages of negotiating an acquisition of a chain of restaurants in Arkansas that has revenues of 13.5M per year with an EBITA of approximately 1.4M.
Feb 3, 2005 IBAC Corporation (PINK SHEETS: ICAN), a leading food & beverage/restaurant company today announced that Edward W Hayter, the Company's President and Chief Executive Officer, is purchasing additional stock from the open market for his personal account. Mr. Hayter intends to purchase stock on the open market in accordance with SEC Rule 10b-18.
Mr. Hayter said, "I have strong confidence in IBAC and believe, given our current position, our stock is undervalued and I intend to accumulate up to 500,000,000 shares to add to my portfolio in the near term."
Mr. Hayter added, "With our current assets and revenue stream along with the addition of The Royal Arkansas Hotel & Suites we have shown solid growth and the current quarter looks very good. Along with other prospects I believe our future will be a surprise to the marketplace.
Feb 7, 2005 IBAC Corporation (ICAN:PK) today announced the closing date for The Royal Arkansas Hotel & Suites. The closing is scheduled on or before March 1, 2005 upon completed contracts due this week.
"We are very excited about this asset coming into our fast growing company as it will add some 3 to 4 million dollars a year in revenue and enhance our presence within the Pine Bluff Convention Center Complex, along with other current assets this will bring our projected revenues to 7 to 8 Million for this year as the company stands right now. Upon closing the two other contracted Sanibel Steakhouses by years end this will give the company another 5 to 6 Million in revenues over all giving the company through its subsidiaries a combined revenue stream of some 12 to 14 Million dollars per year, we are keeping within are stated strategy of aggressive growth over the next three years ." said Edward W Hayter President
Feb 9, 2005 IBAC Corporation (Pink Sheets:ICAN) today announced the formation of an entertainment subsidiary to be named Royal Arkansas Productions, Inc.
"We are very excited about the formation of this new entity, as we plan on using this subsidiary to book concerts and events into the Pine Bluff Convention/Arena Complex, thus increasing traffic to the complex and the company's restaurants, bars, concessions at the convention center and hotel. We are currently negotiating dates with such artists as BB King, Ashford & Simpson, Al Jarreau, Roberta Flack and other acts with the intent of producing at least one show every six weeks or so. It is the company's intent to maximize its revenue stream through out the entire complex," said Edward W. Hayter President.
The company is in the initial stages of having an audit performed for the purpose of becoming a fully reporting entity with the intent of either becoming listed on the OTCBB or Nasdaq Small Cap Exchanges.
The company continues to aggressively seek additional synergistic acquisitions or mergers to enhance assets and revenue stream while it negotiates some current prospects.
Feb 10, 2005 IBAC Corporation (ICAN:PK) today announced the completed acquisition of a majority interest in The Royal Arkansas Hotel & Suites. The acquisition was completed at the law offices of Legal & Compliance, LLC of West Palm Beach, Florida
"We are very pleased with the speed at which this acquisition has been completed with a very special thanks to Laura Anthony, Esq, The Royal Arkansas Hotel & Suites will now be under the IBAC umbrella as a majority owned subsidiary of the company as we continue to grow our company." Said Edward W. Hayter- President
IBAC Corporation Investor Relations, 718-891-8188 Investorrelations@ibaccorp.com www.ibaccorp.com Posted by Leardron on :
Does anyone have the current level IIs on this one?
Posted by Leardron on :
anyone else watching this one? Just wanted to get level IIs
Posted by rickpic on :
its .0003x.0005
Posted by Leardron on :
Thanks! Can you tell me how many are at .0003 and how many are at .0005?
Posted by Doctoall on :
Still holding here but not much change with the PPS Posted by Leardron on :
at least it isn't going down Posted by Doctoall on :
quote:Originally posted by Leardron: at least it isn't going down
This is true very true Posted by rickpic on :
as you say Doc stable is better than heading down! The assets certainly overpower the PPS here, the public just doesn't see it for some reason!
Cheers Rick
Posted by Galaxy on :
It will go up...oncethey release the income :-)
Posted by rickpic on :
Just got off the phone with Ed and he's real happy with Mr djdan. He said maybe you should come visit Danny boy!
On a better note he said that the audit is in progress and the move to the OCTBB is top on the priority list.
As far as the 15c2-11 is concernerned the company has been piggy back qualified since before ICAN ever rolled into it and thats that. It is a solicited company and has been! Period!
We are moving up as per Ed so hang on as he still says that the company is way undervalued and that the public will see real soon just how seriose he is about taking it forward.
.0004 is an unbelievable PPS for a company with the assets and revenues that ICAN has in place.
Get past all the retoric and get to the numbers as stated in the PR's they are whats real and the rest of the BS being posted here and elsewhere is just trash so that someone can get a deeper discount on the already cheep shares.
Good luck bashers and flippers because on this one you will be left behind waiting for that lower PPS or re-entry point real soon!
Posted by Galaxy on :
GOOD WORK, RIC. :-)
Posted by Leardron on :
Love it Ric! Great DD! Thanks for the info. I bought a bunch more today so I am in good shape.
Posted by Leardron on :
Hey Ric, Do they have a website or an investor's email address?
Posted by Galaxy on :
WHATS UR BUYING PRICE, LEARDRON/
Posted by Leardron on :
Got some a few weeks ago at .0003 and got more today at .0004. averages to around .000375 or so. Bought a bunch more today.
Posted by Doctoall on :
Still trying to get my order filled today, need to increase my holdings Posted by Leardron on :
You will all think I am crazy, and I probably am. But I bought 42.5 Million shares today and had 5.6 Million from before. I really believe this company is going places. Can't wait till they go public.
Posted by Doctoall on :
quote:Originally posted by Leardron: You will all think I am crazy, and I probably am. But I bought 42.5 Million shares today and had 5.6 Million from before. I really believe this company is going places. Can't wait till they go public.
Some of my best friends are crazy, especially the rich ones Posted by jb1183 on :
Yes, you are absolutely crazy.
Posted by Leardron on :
quote:Originally posted by jb1183: Yes, you are absolutely crazy.
hopefully crazy like a fox and not crazy like a broke homeless person Posted by jb1183 on :
I think you will be a homeless person with a crazy fox.
Posted by justplayin on :
quote:Originally posted by jb1183: I think you will be a homeless person with a crazy fox.
SLMFAO
Posted by Leardron on :
quote:Originally posted by jb1183: I think you will be a homeless person with a crazy fox.
LOL, at least I will have someone to talk to and scrounge for food. That's more than I can say for my wife Posted by Leardron on :
WOW, looks like someone else is loading up. Jumped 35 Mil in the last 5 minutes.
Posted by ARI on :
yup
Posted by rickpic on :
thanks guys!
Good to see a few of you here keeping an eye on this! heres the web address.
you can place an order at .0003 but they have not been filling and if he hits with news of a move up via reverse merge here it wont be .0004 either! The execution date could be set at the time of the PR leaving no window for outsiders at all!
Good Luck Rick
Posted by Doctoall on :
I was able to get my order filled at 0.0004 and glad that it did fill Posted by rickpic on :
with $12-14 million dollars projected revenue its way way low at .0004
Posted by Leardron on :
Wow, that's for sure. Plus, add in the value of all the assets and the relatively low float on this stock and it really is on he low side.
Posted by rickpic on :
ICAN.PK
OUTSTANDING SHARES AS OF 1/26/05
6,030,743,925 Restricted In Managements Control 1,307,271,661 In The Public Float
do the math x $12 to 14 million in annual revenue.
Does it add up to .0004?
Nope
$12,000.000.00 divided by 7,338.015.586 = .0016
$14,000.000.00 divided by 7,338.015.586 = .0019
These are minimum PPS projections base solely on the $12-14 million 1 yr projected revenue that Ed Hayter stated in a PR and without any multipiers at all. There are also no hard assets added into this multiplication.
As you can see the PPS is at a minimum, only 1/4 of what it should be! Now you know why the CEO is buying shares for his own personal account and putting out PRs saying ICAN is undervalued.
The move up to the OTCBB will show everyone just what kind of legs this stock has, and quick!
Good Luck! I'm IN!!!!!!! Rick
Posted by Galaxy on :
HOLDING LONG HERE.. :-)
Posted by Leardron on :
Morning all! Ric, do you know for how long those restricted shares are restricted. Just curious when they would be able to sell. In any event it is still very low as you said. I was just curious.
Posted by Penny_Guy on :
Just wanted to jump in and say that it would make no sense for them to start trying to sell those shares off. The CEO just bought up 500,000,000 shares. It would make no sense, to buy up only to ruin the PPS by selling off the restricted.
Posted by rickpic on :
i believe its 2 years and that would be 10-11/06 and even then there are rules covering how much can be sold in any given quarter. I believe its limited to 5% per
Rick
Posted by Leardron on :
quote:Originally posted by Penny_Guy: Just wanted to jump in and say that it would make no sense for them to start trying to sell those shares off. The CEO just bought up 500,000,000 shares. It would make no sense, to buy up only to ruin the PPS by selling off the restricted.
I definitely agree with you on that. I don't think the management of this company wants to just dump their shares. I just wanted to know when those shares might be added to the float since alot of investors look at that.
Posted by rickpic on :
IBAC Corporation after the Bell Yesterday Agreed in Principle to a Spin off of All or Some of Its Assets Business Wire - February 16, 2005 08:57
NEW YORK, Feb 16, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK), a food & beverage/restaurant/hotel company announced today that it has agreed in principle to spin off some or all of its assets to an otcbb company subject to all regulatory approvals & SEC filing requirements.
"The company continues to seek the best use of assets and resources to enhance shareholder value. The spin off of assets should result in a premium to shareholders (to be determined) once the transaction is completed. The terms and conditions of the spin off will be made public upon completion of agreements along with the otcbb company and symbol. The company intends to execute this agreement as a stock dividend with free trading shares of a fully reporting OTCBB company to ICAN shareholders with the effective date to be announced in the near future. The agreement is subject to completion of audited financials of IBAC's assets and all SEC requirements. " Said Edward W Hayter President & CEO
IBAC Corporation currently operates through its majority owned subsidiaries National Hospitality Management Services, The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites the company has some 95 employees and with the addition of the two contracted Sanibel Steakhouses in the near future the company will then have some 175 to 200 employees.
The company continues to aggressively seek additional synergistic acquisitions or mergers to enhance assets and revenue stream while it negotiates other current prospects.
About IBAC Corporation: IBAC Corporation, a food and beverage services/restaurant/hotel holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group and National Hospitality Management Services and The Royal Arkansas Hotel & Suites IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
About the Industry: The restaurant/food and beverage services market represents more than $350 billion in the U.S. with growth rates expected of 4.8 percent to 5.2 percent within the next year.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant and hospitality industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Copyright (C) 2005 Business Wire. All rights reserved.
Posted by rickpic on :
This is huge news! Moving on up! Ed Hayter is doing everything he has stated in his PRs and this is the best yet! Hold on to your hats!
Chers Rick
Posted by Forrestgump on :
What does that mean exactly? Is it a reverse merger?
Posted by rickpic on :
its a spin off with free trading shares and a premium to shareholders that could be in cash!
Cheers Rick
Posted by Forrestgump on :
That a huge news my friend!
Posted by Doctoall on :
There is no doubt that this company is moving in the right direction. I am glad that I was able to add to my position yesterday. Will be looking to buy more today
This is Great!!!! News!!!!
Posted by Doctoall on :
Nice Volume this morning Posted by Leardron on :
WOW! very huge news! So far it looks like I am crazy like a fox . LOVE IT! LOVE IT! LOVE IT!
Posted by Doctoall on :
quote:Originally posted by Leardron: WOW! very huge news! So far it looks like I am crazy like a fox . LOVE IT! LOVE IT! LOVE IT!
Crazy like a fox is good Just glad that I followed the "fox" Posted by Leardron on :
btw, Great pic Ric and thanks for all the DD you are doing!
Posted by rickpic on :
This company has the right CEO and he has a much bigger plan than most! The assets and revenue porjections here speak for themselves! The move up here is a ++++++++++++++++++++++++++++
Cheers Rick
Posted by Doctoall on :
quote:Originally posted by rickpic: This company has the right CEO and he has a much bigger plan than most! The assets and revenue porjections here speak for themselves! The move up here is a ++++++++++++++++++++++++++++
Cheers Rick
Rick, I agree and really like this stock Posted by Forrestgump on :
Not big effect on pps!
Posted by Leardron on :
anyone have level IIs? I remember someone saying there was a big wall at .0005. Just wondering if it is dwindling.
Posted by Galaxy on :
This going to fly sooon... :-)
Posted by rickpic on :
That wall @.0005 is coming down this afternoon! Pay very close attention to this lil stock!
Rick
Posted by Forrestgump on :
I don't know Rick. Big news and MM manipulation. Something sound fishy here. Any explanation why we are not moving over?
Posted by rickpic on :
when he announces the new symbol its gonna fly! If he announces a cash premium it will be to late to get it! Just keep this on your watch list if your not in it and you will see something real good happening over the next week or two!
Cheers Rick
Posted by Galaxy on :
I HAVE NO DOUBT...IT WILL BE GONNA FLY SOON. JUST WAITING FOR FIN. REPORTS.... :-)
Posted by Forrestgump on :
I am full of it and making nice gain but...trading 10% of the float and no move!!!
Posted by Leardron on :
The only other thing I can think of is if this stock has been shorted. They will now have to cover their short positions before they go to the OTCBB. This might be keeping the price down. I no expert but I have seen it before.
Posted by Doctoall on :
Holding at 0.0005. Still waiting to get my order filled Posted by unreal33 on :
bought up some more today, does anyone have a projected price on this? too soon to tell?
Posted by Leardron on :
Looks like the pps isn't sustaining itself. Thought it would at least hit .0006 at some point. Oh well, it will come.
Posted by Doctoall on :
quote:Originally posted by Leardron: Looks like the pps isn't sustaining itself. Thought it would at least hit .0006 at some point. Oh well, it will come.
Maybe the next PR will get us past the current PPS levls, once it breaks 0.0005 then its upward Posted by Galaxy on :
i think so, it need to cross .0005 :-)
Posted by rickpic on :
if that stated premium is in cash this sucker is gonna grow wings real fast. Just the new OTCBB ticker announcement alone should fly it, but cash man that would be very sweet!
Cheers Rick
Posted by Galaxy on :
Ohh yes. new OTCBB ticker or revenu reports...hmm it will fly :-)
Posted by Forrestgump on :
Rick,
What made you think, CEO will give us a cash divy?
Posted by Doctoall on :
Well its back at the 0.0005, so where do we go from here Posted by Forrestgump on :
UP!
Posted by Doctoall on :
quote:Originally posted by Forrestgump: UP!
Sweet thought, "Up,Up And Away" Posted by Galaxy on :
The shares are changing hands NOW..once reached right hands..then its UP UP... :-)
Posted by Galaxy on :
more than 500M traded today....
Posted by Doctoall on :
It will be very interesting if a PR comes out tomorrow. The volume today is outstanding Posted by Galaxy on :
okay..now it is .0005 :-)
Posted by unreal33 on :
how exactly would that cash thing work out? on a per share basis?
Posted by Doctoall on :
Galaxy: So hopefully the PPS will continue to rise at market open tomorrow Come on ICAN just give us a small PR tonight or tomorrow.
Unreal: I am not sure how the "cash thing" would work I would think that Ric would be able to give you an answer
Posted by Galaxy on :
Doctoall: YES. IT IS GOING TO UP...GOOD BUSINESS PLAN..GOOD MANAGEMENT...THERE IS GOOD FUTURE FOR THIS STOCK
Posted by rickpic on :
Yes a cash div would work on a per share basis and the reason I figure it could happen is the line in the PR that says!
"The spin off of assets should result in a premium to shareholders (to be determined) once the transaction is completed."
That comment is in addition to the one about free trading shares! shown here!
"The company intends to execute this agreement as a stock dividend with free trading shares of a fully reporting OTCBB company to ICAN shareholders"
Call it a hunch but if you want to launch a rocket and get it to the moon it takes the right fuel.
In ICAN's case that fuel could be a cash "Premium"
Cheers Rick
Posted by rickpic on :
Just off the phone with Ed Hayter and he said hold onto your hat shareholders, because this move up should be a major plus for everyone who owns it! He was traveling but said he would review the question that many have here once he got where he was headed and that he may issue a clarification PR if there are to many confused shareholders. He said this is a good thing for the company and the shareholders.
As I have said over and over again! The assets and revenues speak for themselves here! The mere magnatude of ICAN tells all it does not belong on the Pinks any longer than it has to be! Ed wants the values out there in audited filings, so they are no longer questionable.
Cheers Rick
Posted by Doctoall on :
Rick, sounds like great news Posted by Galaxy on :
I named already ICAN as WINNER stock of 2005 in my portfolio...:-)
HOLDING LONG HERE..
Posted by Leardron on :
Good morning all! Read through all the posts after the bell. That is great news Ric. I hope he puts out the clairification PR today.
Posted by rickpic on :
Here we go again! Another day of trading and speculation.
If you read thought the PRs it is very easy to see that Ed Hayter has been working on pulling many assets into one company, and not only assets but also revenue generating assets. The market has choosen to iggnor for the most part what he is pulling together here with IBAC Corp.
Two large real estate assets have been closed on and added here.
A Sanibel Steak House with $2.5 mil annual revenue and The Royal Arkansas Hotel, with 200 rooms renting at $75-$129 per night, it also 2 restauraunts and a lounge. The revenues on this on are huge for a pink sheets company!
On top of these 2 closed on assets, we have 2 more Sanibels with closing dates of 5/1/05 and 7/30/05 that will add about $6. million more in revenue and the statement from the company that they plan to add new Sanibel location to this money maker.
Next we have National Hospitalitys with $2 million in projected revenues through many smaller contracts and a long term contract with the Little Rock Convention Center
next we have the statement that IBAC is in negotiations with a Arkansas restaurant chain that could add $13.5 million in revenues.
All this adds up very quickly to a very large corperation that does not belong on the Pink Sheets Market! So Ed plans on moving all or part of it up to the OTCBB through a spin off into an OTCBB approved and fully reporting company.
I assume that he bought this company and still plans to control IBAC corp or whatever its new name may be.
We the open market shareholders are the winners here, because as Ed has built value into his own restricted portion of IBAC he has also built value into ours. Value much greater than the Pinks Market is willing to reflect for us.
What that value is will soon be a reality to the rest of the market. The word premium speaks loudly in the spinoff PR from the 16th.
For The Sanibel Group alone IBAC had a buyout offer of $8.4 million. Now add the rest!
Get On, Hold On, or Just Watch! but this one will show us all something good real soon!
Rick
Posted by Forrestgump on :
I would like to hear some comment? Beside Naked shortage, why pps don't raise if we trade almost half of the float...all buy?
Posted by rickpic on :
Markets taking notice! Bid back at .0004 and CRWN just raised there ASK from .0005 to .05
Posted by Doctoall on :
Well guys are we in for a good day Posted by Leardron on :
quote:Originally posted by Forrestgump: I would like to hear some comment? Beside Naked shortage, why pps don't raise if we trade almost half of the float...all buy?
I think yesterday was alot of daytraders trying to make the quick buck by buying in the morning and then dumped it in the afternoon. As I have read in many articles there seems to be a trend of investors using automated programs to sell a stock at a certain time or price. You also probably had a lot of people trying to turn over the buying at .0004 and selling at .0005 as much as they could. All this leads to the same shares being traded multiple times in a day. If you look at today's volume it is what I expect now. It is low because people are locked in now and not selling. I don't think you will see another 500 million trade day without the price moving up.
Posted by Forrestgump on :
Thank Lear!
Posted by Leardron on :
wow, I figured it would be alot slower today but talk about coming to a skreetching halt on the volume. It's good though to see that the bid is moving up.
Posted by Doctoall on :
Now sitting at 0.0005 Posted by gfowler1 on :
What happened there as it dropped to .0003?
Posted by justplayin on :
MM's
Posted by rickpic on :
IBAC Corporation Clarification of Press Release Dated February 16, 2005 Business Wire - February 17, 2005 11:33
NEW YORK, Feb 17, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK) a food and beverage/restaurant/hotel company is in discussions with a Company to sell certain assets of IBAC. In the event that an agreement is reached, the subject assets would be sold in exchange for stock in a public entity trading on the bulletin board market. The public entity would be required to register the stock for distribution to the IBAC shareholders.
The discussions have not been solidified into a formal agreement as of yet, but are proceeding quickly. Any agreement will be subject to proper regulatory approvals and shareholder's consents. Moreover, the transaction would also be subject to an audit of IBAC's financial statements and an appraisal of the assets which would be subject to the sale.
IBAC has already retained an auditor, as previously announced, and intends to distribute an annual report to its shareholders upon completion of its financial statements, regardless of the potential transaction.
IBAC Corporation currently operates through its majority owned subsidiaries National Hospitality Management Services, The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites the company has some 95 employees and with the addition of the two contracted Sanibel Steakhouses in the near future the company will then have some 175 to 200 employees.
The company continues to aggressively seek additional synergistic acquisitions or mergers to enhance assets and revenue stream while it negotiates other current prospects.
About IBAC Corporation: IBAC Corporation, a food and beverage services/restaurant/hotel holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group and National Hospitality Management Services and The Royal Arkansas Hotel & Suites IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
About the Industry: The restaurant/food and beverage services market represents more than $350 billion in the U.S. with growth rates expected of 4.8 percent to 5.2 percent within the next year.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant and hospitality industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Copyright (C) 2005 Business Wire. All rights reserved.
Posted by Doctoall on :
So what effect will this PR have on the PPS? Posted by Leardron on :
Okay, tell me if I am wrong. What I am getting out of all of this is that IBAC is selling off assests in exchange for stock in the company they are selling to which is a fully reporting company (which they will distibute to it's shareholders). In addition to this IBAC is also going to become a fully reporting company once the audit is done to be listed on the OTCBB or NASDAQ Small Caps.
Posted by rickpic on :
Leardron You get an A+ the Financials are coming one way or the other and soon!
Posted by rickpic on :
The company has projected $12-$14 million annual with the completion of the 2 Sanibels that are on the table
Posted by NomarKash on :
I've posted before but I'll do it again for some newbies to this thread, Sanibel restuarants are awesome. The food is outstanding and the servers are great. And this is only a small chunk of ICAN!!!
Posted by Doctoall on :
quote:Originally posted by rickpic: The company has projected $12-$14 million annual with the completion of the 2 Sanibels that are on the table
Are Sanibels something that you eat, you did say that they are on the table
Let's See Some Green ICAN Posted by Leardron on :
quote:Originally posted by rickpic: ICAN.PK
OUTSTANDING SHARES AS OF 1/26/05
6,030,743,925 Restricted In Managements Control 1,307,271,661 In The Public Float
do the math x $12 to 14 million in annual revenue.
Does it add up to .0004?
Nope
$12,000.000.00 divided by 7,338.015.586 = .0016
$14,000.000.00 divided by 7,338.015.586 = .0019
These are minimum PPS projections base solely on the $12-14 million 1 yr projected revenue that Ed Hayter stated in a PR and without any multipiers at all. There are also no hard assets added into this multiplication.
As you can see the PPS is at a minimum, only 1/4 of what it should be! Now you know why the CEO is buying shares for his own personal account and putting out PRs saying ICAN is undervalued.
The move up to the OTCBB will show everyone just what kind of legs this stock has, and quick!
Good Luck! I'm IN!!!!!!! Rick
I read back through the old PRs and noticed that they rejected an offer of 8.75 Million dollars for the company saying it was too low. Which I also feel it is. But what this tells me is that the company is at a minimum worth that which if you divide that by the number of outstanding shares comes to a pps of .0012. That alone tells me how undervalued the pps currently is.
Posted by Leardron on :
I think the reason for the pps drop right now is there are some people that are scared that the shares that we get of the "other" company will be restricted. I would hate to have him revise his PR again but I know that would stink if the shares he got from the sale were restricted.
Posted by Doctoall on :
I don't think that the low PPS has anything to do with the PR's. I feel that the MM's are having their way with this stock.
I hope that the management has a plan to deal with the MM's.
ICAN all the way Posted by Penny_Guy on :
This one is killing me. Seems to have so much potential. But everytime I check back to see how it's doing. It's at .0003.
Posted by Galaxy on :
MM is playing...it will go up...no doubt :-)
Posted by Leardron on :
Can't wait till they come out with their financials!
Posted by bousbous55 on :
i hope pressure keeps building till later next week before it pops. trying to get in... do you all think it will explode before next week
Posted by Leardron on :
quote:Originally posted by bousbous55: i hope pressure keeps building till later next week before it pops. trying to get in... do you all think it will explode before next week
Basically it depends on when they make the annoucement about the financials and the deal with the other company. Once that comes out, I think it will be time to hold on to your hats. Posted by bousbous55 on :
when are they expecting the news to come out?
Posted by Doctoall on :
Picked up a few more shares today Posted by justplayin on :
Good move, this could be a HUGE winner if the company can pull off the transfer to the best interest of the shareholders.
I will be looking to add to my position as well.
Posted by Doctoall on :
quote:Originally posted by justplayin: Good move, this could be a HUGE winner if the company can pull off the transfer to the best interest of the shareholders.
I will be looking to add to my position as well.
Geez, are you following me I like this one, sounds like the company is making the right moves to get to reporting and wanting this company to fly.
Posted by justplayin on :
Not following you but it looks as though we hold alot of the same positions.
Besides, it aint all that bad to be followin the Doc Posted by Galaxy on :
Did you get fill @.0003 Doctoall?
Posted by Leardron on :
Good morning all. I sure hope we see green today. I would hope that .0003 is just a fluke.
Posted by Doctoall on :
I would like to see some green today, but I do not think that we will see above 0.0005 unless we get some news about reporting (actually on another board) or buyback.
I do have faith in this stock and holding. Maybe get me some more at these prices Posted by Leardron on :
man, can you say dead volume.
Posted by Leardron on :
IBAC Corporation CEO Invited to Discuss Company's Direction and Shareholder Questions
DALLAS, Feb 18, 2005 (BUSINESS WIRE) -- Dan York Administrator for www.paltalk.com Sterling's Classroom today announced that he has invited IBAC Corporation (Pink Sheets: ICAN), Management to participate in their free public forum for a question and answer session on Tuesday February 22, 2005 at 9PM EST. Edward W. Hayter, the Company's President and Chief Executive Officer, has accepted the invitation. "I look forward to addressing any and all questions or comments regarding our company from shareholders and non shareholders alike, as this will give me the opportunity to set the record straight on many issues regarding our company and the company's plans moving forward," said Edward W. Hayter President & CEO.
For all interested if you are not a member of Paltalk already you can download a version of the required software for free at: http://www.paltalk.com/PalTalkSite/
Due to the anticipated response we will be adding additional room capacity via, "ICAN Overflow Rooms" that will be created in the "Business Finance" category under the heading "Groups" we will announce the required password to gain access prior in advance of the scheduled session.
About IBAC Corporation: IBAC Corporation, a food and beverage services/restaurant/hotel holding company based in New York, NY. Operates through its subsidiaries, The Sanibel Restaurant Group, National Hospitality Management Services and The Royal Arkansas Hotel & Suites.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant and hospitality industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Posted by tyedye on :
Thinking of getting in this.
Anyone have todays L2's for this stock? If so please post.
Posted by Leardron on :
I am definitely going to try to be there. Just downloaded the software Posted by Doctoall on :
IMO this is going to rock very soon. I will try to pick up some more today, just don't want to take the chance that I loose out Posted by stockguy123 on :
Very risky, previous pr's just like MLON and GXXL
Posted by tyedye on :
quote:Originally posted by Leardron: man, can you say dead volume.
Anyone have an opion on a good entry point? Perhaps 0.0002-0.0003?
Posted by TheBundo on :
It looks just like Mario on the surface, but he has a real hotel in a good location.
Mario had a real laptop on his hairy legs while sitting on the toilet laughing his way to the pokey by way of the bank, at the expense of his worshipers
Posted by Leardron on :
quote:Originally posted by TheBundo: It looks just like Mario on the surface, but he has a real hotel in a good location.
Mario had a real laptop on his hairy legs while sitting on the toilet laughing his way to the pokey by way of the bank, at the expense of his worshipers
And also a real restaurant too.
Posted by Leardron on :
quote:Originally posted by stockguy123: Very risky, previous pr's just like MLON and GXXL
I don't recall the CEO of GXXL making himself available to questions in an open forum. I didn't follow MLON so I can say on that one. Also, I don't think either of these companies had real hard assets like ICAN and finally I don't recall any company offering them basically .0012 per share for the company. ICAN had an offer of $8.75 Million dollars for the company and they turned it down. Seems to me like this CEO really wants to put it all on the table to make people comfortable with investing and making sure people realize it isn't a scam.
Posted by stockguy123 on :
It's been hanging around 0003-0004 for awhile. 3 pr's this week and the PPS going nowhere seems to suggest a drop is coming
Posted by Leardron on :
quote:Originally posted by tyedye:
quote:Originally posted by Leardron: man, can you say dead volume.
Anyone have an opion on a good entry point? Perhaps 0.0002-0.0003?
You might be able to get in at .0003 if you are lucky but you might as well forget .0002 unless there is some bad PR. .0004 is probably the average entry point right now and I think after Tuesday's conference call you will be lucky to get in at that.
Posted by TheBundo on :
quote:Originally posted by Leardron:
quote:Originally posted by TheBundo: It looks just like Mario on the surface, but he has a real hotel in a good location.
Mario had a real laptop on his hairy legs while sitting on the toilet laughing his way to the pokey by way of the bank, at the expense of his worshipers
And also a real restaurant too.
I guess I missed that. Fill me in, if you remember the details.
Thanks (BTW, "real" to me means up and operating - perhaps that's what you meant - I don't consider "real" to mean like QBID calling themselves a "network". What a joke, IMO
Even DuMont was a real network, with shows like "The Honeymooners" (The Jackie Gleason Show). That in a time when there were but 4 viewing choices (at best - most folks didn't live where all 4 were receivable with their rabbit ear antennas), and all were totally free, and with less ads than QBID plans to put on PayPerView.
Folks here act like all gays would want to watch the few lousy episodes of "The Stockard Channing Show", etc., because it's on "their" "network".
It's become a religion, like MLON, by folks who, if they were honest with themselves (and take Almighty God (er, I mean $$$) out of the equation, wouldn't have anything to do with QBID.
Maybe Mario did have a flea-bag hotel somewhere, though
Posted by Leardron on :
quote:Originally posted by TheBundo:
quote:Originally posted by Leardron:
quote:Originally posted by TheBundo: It looks just like Mario on the surface, but he has a real hotel in a good location.
Mario had a real laptop on his hairy legs while sitting on the toilet laughing his way to the pokey by way of the bank, at the expense of his worshipers
And also a real restaurant too.
I guess I missed that. Fill me in, if you remember the details.
Thanks (BTW, "real" to me means up and operating - perhaps that's what you meant - I don't consider "real" to mean like QBID calling themselves a "network". What a joke, IMO
Even DuMont was a real network, with shows like "The Honeymooners" (The Jackie Gleason Show). That in a time when there were but 4 viewing choices (at best - most folks didn't live where all 4 were receivable with their rabbit ear antennas), and all were totally free, and with less ads than QBID plans to put on PayPerView.
Folks here act like all gays would want to watch the few lousy episodes of "The Stockard Channing Show", etc., because it's on "their" "network".
It's become a religion, like MLON, by folks who, if they were honest with themselves (and take Almighty God (er, I mean $$$) out of the equation, wouldn't have anything to do with QBID.
Maybe Mario did have a flea-bag hotel somewhere, though
They also own the Sanibel Steakhouse Restaurants. If you go to their website you can check it out. Here is the link to their subsidiaries.
The pal talk interviews should be a good step up here!
Runor has it that they are working on a IBCS interview as well!
Looking for a move up here!
Cheers Rick
Posted by TheBundo on :
A move UP????? For MLON????? To Sing Sing, or San Quentin?????
Man, religious fanatics..........
Posted by rickpic on :
This is a ICAN thread! A move up for ICAN!
Posted by Leardron on :
Here is the PR I was talking about.
Jan 4, 2005 The Sanibel Restaurant Group, a subsidiary of IBAC Corporation (ICAN.PK), announced today that it has completed the acquisition of phase one of the Sanibel Steakhouses contract as previously announced.
"This completed acquisition will add 2.5M in revenue annually to the company and 35 employees immediately, the company has taken possession of the Ft Meyers property as owner/operator effective today." said Karl Wenzel, president of The Sanibel Restaurant Group.
The second phase of the Sanibel Steakhouse acquisition is expected to be completed on or before April 1, 2005 and that will add another 3.5M in revenue and 40 employees with the third and final phase being completed on or before July 30, 2005 adding an additional 2.5M in revenue and 30 employees, total value of the completed acquisition to the company will be revenue of 8.5M per annum with 105 employees.
Through its operating companies, IBAC Corporation owns/operates and manages restaurants & food and beverage service contracts; the company intends to become a fully reporting company by the end of the second quarter of 2005 with a balance sheet directed towards the nasdaq small cap.
The company is currently negotiating other acquisitions and expect to have completed contracts very shortly. It is the intent of the company to increase its Sanibel brand throughout Florida.
[ September 28, 2005, 20:16: Message edited by: Bob Frey ]
Posted by Doctoall on :
quote:Originally posted by TheBundo: A move UP????? For MLON????? To Sing Sing, or San Quentin?????
Man, religious fanatics..........
I knew that you would show up sooner or later. You spent your time bashing on the QBID and MLON thread. You do not own any stock so why are you here "bashing" again.
Posted by Leardron on :
quote:Originally posted by rickpic: This is a ICAN thread! A move up for ICAN!
Are you on the right thread there Bundo? As Ric said, we are talking about ICAN. Your not making much sense.
Posted by Galaxy on :
I had good times wehn i was in Sanibel Steakhouse Restaurants with my friends..had good time, very good food and service. After only i put my money to buy ICAN. stil buying more. Its good resturants and it make money..may it make profit or not...but thats business...though there is money come in..running payroll...paying salery to employee...soo it will GO UP... there is good future for this STOCK :-)
Posted by TheBundo on :
quote:Originally posted by Doctoall:
quote:Originally posted by TheBundo: A move UP????? For MLON????? To Sing Sing, or San Quentin?????
Man, religious fanatics..........
I knew that you would show up sooner or later. You spent your time bashing on the QBID and MLON thread. You do not own any stock so why are you here "bashing" again.
I actually owned "Q" briefly, but had a moral quandry, and got out within a brief point. I lost little more than my commissions, but never felt better. I'm not bashing my fellow investors here, not in the least. MLON looked sleazy to me from the get-go, and "Q" is something most of us would have been ashamed of being linked to for most of our lives. I still am, and won't touch it again, no matter what it does financially.
Again, I'm not bashing any of you folks, though some may take it that way. I'm just trying to be true to myself, about something I think is detestable. It's easy to get caught up in the $$$, I know....
And I'm not a "religious fanatic". I'm just not an "anything goes" fanatic. Nor am I an "everything is "okay" except those who don't agree with me" fanatic.
Posted by TheBundo on :
quote:Originally posted by Leardron:
quote:Originally posted by rickpic: This is a ICAN thread! A move up for ICAN!
Are you on the right thread there Bundo? As Ric said, we are talking about ICAN. Your not making much sense.
I suspect you are correct. I think I goofed. Sorry
Posted by TheBundo on :
Sorry, folks. I mis-interpreted a response, about the restaurants, as being about MLON. Too many hours without sleep. No offense intended, on any score.
Posted by Leardron on :
quote:Originally posted by TheBundo: Sorry, folks. I mis-interpreted a response, about the restaurants, as being about MLON. Too many hours without sleep. No offense intended, on any score.
None taken thanks for replying and clearing it up. Do you have any thoughts on ICAN? Always interested in other investor's opinions.
Posted by Leardron on :
Well, not too many .0003s going through. I have had an order in since this morning at .0003 and it hasn't gone through. Looks like you will have to go in at least at .0004 if you want to get in.
Posted by Mack on :
i tried @ .0003 all day also and nuttin but i did get in @ .0004
Posted by Leardron on :
What I think is going on with the price. This is just a theory but basically the MM's job is to move to the price that will move the most amount of shares. The problem with this stock right now is that the volume is being totally dictated by the daytraders because we long holders are not putting sell orders out there for the MMs to see which gives them no incentive to move to the price.
I suggest that everyone that is holding this stock long should put a sell order in that is reasonably high. Say around .001. One that is high enough for you to change during a run but not high enough that the MMs will forget about moving the price.
He's is an example of what is going on now. You have a bunch of daytraders trying to get in at .0003. They get in then sell the stock at .0004. They then go back to putting in a buy at .0003 to do it all again. The MMs see all the volume orders in at .0003 and .0004 so why try to move it up.
Now I am no expert and I was wondering if someone else could vouch for this theory or say I am full of it. But it makes sense to me.
Posted by unreal33 on :
what would really need to happen for us to see even .01 ever again? a finacial report? or enough sales and less shorters... sorry still learning! I would hate to see this end up like another MLON, just seems a little odd that we've seen nothing but positive pr, is it too good to be true?
Posted by Doctoall on :
quote:Originally posted by Mack: i tried @ .0003 all day also and nuttin but i did get in @ .0004
I have not been able to get shares at 0.0003, the order that I did yesterday went through at 0.0004.
I also believe that the MM's are having their way with this stock. The company plans changing to a reporting company, so we will see what happens after that Posted by B on :
ICAN is the best stock of 2005. I'm not worried about the pps. Just acquiring more at these prices. The stock is way under valued. Hayter knows this that why he bought 500 million shares. That translates to roughly $250,000 of his own money.
Timing is everything, for him to spend that type of money at this time, something is happening that is going to make all the shareholders money!!
This company has no business being on the pinks. when ICAN makes that move to NASDAQ small caps alot of investors are going to be mad they took a pass.
Hayter is saying stick with him and you will profit. Its going to be bigger than everyone thinks! -------------------------------------------------
Boards don't hit back!
Posted by unreal33 on :
quote:Originally posted by B: ICAN is the best stock of 2005. I'm not worried about the pps. Just acquiring more at these prices. The stock is way under valued. Hayter knows this that why he bought 500 million shares. That translates to roughly $250,000 of his own money.
Timing is everything, for him to spend that type of money at this time, something is happening that is going to make all the shareholders money!!
This company has no business being on the pinks. when ICAN makes that move to NASDAQ small caps alot of investors are going to be mad they took a pass.
Hayter is saying stick with him and you will profit. Its going to be bigger than everyone thinks! -------------------------------------------------
Boards don't hit back!
I read somewhere that the sale was only proposed, did it ever actualy go through?
Posted by Leardron on :
quote:Originally posted by unreal33:
quote:Originally posted by B: ICAN is the best stock of 2005. I'm not worried about the pps. Just acquiring more at these prices. The stock is way under valued. Hayter knows this that why he bought 500 million shares. That translates to roughly $250,000 of his own money.
Timing is everything, for him to spend that type of money at this time, something is happening that is going to make all the shareholders money!!
This company has no business being on the pinks. when ICAN makes that move to NASDAQ small caps alot of investors are going to be mad they took a pass.
Hayter is saying stick with him and you will profit. Its going to be bigger than everyone thinks! -------------------------------------------------
Boards don't hit back!
I read somewhere that the sale was only proposed, did it ever actualy go through?
That's actually one of the questions I am going to ask him on Tuesday if I get a chance. I am planning on logging in for it. Hopefully Tuesday we will get alot of questions answered.
Posted by Jonus on :
I first entered this stock when it was .0005 did the dd and realized what a true gem we have here. I watch this stock daily and a few months back it dipped to .0002 and i filled 10mm was very happy that the mms filled that. I believe that if we just have patience this will become a winner for all of us. Remember how long we had to wait on MLON.
Posted by going for gold on :
i've been a week on holiday,still holding my 9 m,a bit disappointed about the pps but as said here before,tuesday will be a key day for me,if evereybody of who really owns stock of ican,should tell how many stock he owns,then we 've a good view on the outstanding shares,so 500m for the ceo,9m i own,how many stock do you guys own???
Posted by Leardron on :
quote:Originally posted by going for gold: i've been a week on holiday,still holding my 9 m,a bit disappointed about the pps but as said here before,tuesday will be a key day for me,if evereybody of who really owns stock of ican,should tell how many stock he owns,then we 've a good view on the outstanding shares,so 500m for the ceo,9m i own,how many stock do you guys own???
I'm sitting at a little over 48 mil.
Posted by Forrestgump on :
Please Take the ICAN Challenge…
I challenge all of you to simply do your due diligence (DD) on ICAN. As you all know, I have been looking for a stock that can help many people obtain prosperity. CMKX and a few other stocks I mentioned were stocks that I have chosen and still believe in, but I am not sure of any timeline to confirm when CMKX or any of those other stocks will make many prosperous.
I have done my DD with ICAN. I have talked to people who have been to the ICAN places in the website below and they are for real. Please look at them: http://www.ibaccorp.com/
ICAN is positioning itself to make many shareholders wealthy to their own level of peace with substance. ICAN will prove to be the real deal! The Revenues will speak for itself. Make sure you read the post below to understand the undervaluation of ICAN before you continue taking the ICAN challenge: http://ragingbull.lycos.com/mboard/boards.cgi?board=CLB01219&read=157989
** I challenge you to find me a stock that’s trading under .01 cent that’s profitable with this much potential.
** I challenge you to find me a stock that’s trading under .01 cent that’s generating over $20,000+ per day just from their restaurants.
** I challenge you to find me a stock that’s trading under .01 cent that’s going to award their shareholders a stock dividend in another stock that will result in a premium to its shareholders from their original investment.
** I challenge you to find me a stock that’s trading under .01 cent that’s going to award their shareholders a stock dividend in another stock that will be immediately “free trading” that will have valuation placed in it to support its price offered.
** I challenge you to find me a stock that’s trading under .01 cent that’s going to award their shareholders a stock dividend in another stock that will be “free trading” and “not restricted” as a dividend that will be trading on the OTCBB as a fully reporting company.
** I challenge you to find me a stock that’s trading under .01 cent that’s going to have his current shareholders to be the Float for that OTCBB free trading dividend to be awarded.
** I challenge you to find me a stock that’s trading under .01 cent that “Maninfla” actually even admits to having shares in the company.
** I challenge you to find me a stock that’s trading under .01 cent that has a current undervalued Market Cap of $2,920,000 and is generating Income and Assets that reflects a Market Cap of $35+ million.
After reading this post, please don’t just believe what I am saying. Please just DO YOUR DD to see what I am talking about with ICAN for yourself! Other stocks I only speculated about being in position to generate these types of Revenues. ICAN is doing it now!
ICAN is positioning themselves for a major movement and there isn’t much that any of us in here will be able to do to stop it. Ladies and Gentlemen, ICAN is real and is not another MLON as some have been trying to insinuate. The major difference is that ICAN has Assets that you can go see that Revenues are being generated. PERIOD!
In closing, please don’t give me credit for being the one who picked ICAN after it starts to run. It will run because the Float is gone and the CEO is not dumping any shares. Understand somebody had to tell me about ICAN to force me to take the challenge to go and do my DD. I did and I am very very impressed.
If you have never listened to me before, do consider doing so now when I say to go and do your DD on ICAN. ICAN is at .0004 cent(s) and the quality of ICAN will speak for itself. Go ahead and take the ICAN challenge!
This stock does sound like a steal , i'm just hoping it's for real . When everything starts to fall into place , then i'll be convinced . But , again , i'm not heavily invested in this one so it's all bunus shares at this point . You do make a somewhat compelling case as to why you think Ican is undervalued , we'll see how everything forms in the next couple of months .
Posted by Doctoall on :
I was turned on to ICAN by Dardadog Posted by jake_the_snake on :
I am holding 3,000 shares at the present time. I am debating to pick up another 3,000 shares and HOLD!!! Any thoughts??
Posted by tuckermen on :
3,000 shares is a $1.20. Did you mean to say 300,000 or maybe 3,000,000. Or, are you refering to a different stock.
Posted by ARI on :
I think in the AM we will see alot of buys and then the CEO Ed will set the record straight tommorrow night on paltalk. Then hopefully Wednsday this baby will rock.
I love when there is one single event that can make or break a stock. You can do all the research and TA you want but when it comes down to it you might as well be betting red or black. Good luck to all and rember not to invest more than your willing to lose......
Posted by unreal33 on :
Damn, 48 million... I'm in for only a few million. Lets all cross our fingers tomorrow
Posted by Leardron on :
Hey, someone must have got to them on their wording about the Sanibel restaurants on IBAC's subsidiaries page. It used to say (Ft. Myers Closed & Pending of Bonita Springs and Naples).
Made it sound like the restaurant closed when they actually meant that they closed the deal. They fixed it and now it says. (Ft Myers Acquisition Complete & Pending The Acquisition of Bonita Springs and Naples).
Definitely alot clearer. I think if Ed has any problems it is with they way his company words things, lol Posted by ARI on :
Does anybody have L2's on this one? can anyone tell if these are all buys going through?
Posted by Leardron on :
It broke the .0005 barrier! Better watch out!
Posted by Doctoall on :
Currently at 0.0006 Posted by Leardron on :
alot of sales going through at .0006!
Posted by Leardron on :
Bid is now at .0005 and ask is at .0006
Posted by dinger51 on :
.0007
Posted by going for gold on :
now i am sure, i am going to keep my 9m till the pps is around 0.04,go ican
Posted by Leardron on :
bid at .0006 and ask at .0007
Posted by bullish_pennystocks on :
quote:Originally posted by Leardron: bid at .0006 and ask at .0007
i see a retracement to .0005 by close
Posted by justplayin on :
quote:Originally posted by bullish_pennystocks:
quote:Originally posted by Leardron: bid at .0006 and ask at .0007
i see a retracement to .0005 by close
Great, then we can load up again Posted by Leardron on :
My guess is there will be a retrace to .0005 between 2 to 3 or so but then there will be another run up to the closing bell and will settle around .0006 or even .0007. I think people will load up with the expectation that Ed is going to answer alot of questions and it will be for the good.
Posted by dellamorte dellamore on :
Got a limit for .0005 .
Posted by going for gold on :
good for you dellamorte,it means that these shares of you are of the market for a while,so another reason to raise the pps :-),i like to see ican,0.001 by the end of the week
Posted by Leardron on :
I just happen to see this on their Jan 4th PR. It states when they want to have the audit and be listed by date. Here is what it say.
Through its operating companies, IBAC Corporation owns/operates and manages restaurants & food and beverage service contracts; the company intends to become a fully reporting company by the end of the second quarter of 2005 with a balance sheet directed towards the nasdaq small cap.
Now, they might have to move that date up to be able to complete the sale of assets deal but I guess that will be answered tonight.
Posted by tntrader on :
Man I hope it hits .0005 one more time at least.
Posted by dellamorte dellamore on :
I want to see how much patience i have , i've chased too much in the past . I should get filled towards the end of the day , if not , i already own shares , so it's still a good thing . It's like a faceoff now , the reese's pieces guys and gals are waiting to see who will chase and buy in too high , but i'm letting the order stand to get my price .
Posted by Doctoall on :
Moving Up Again Posted by tntrader on :
I want in damn it
Posted by justplayin on :
quote:Originally posted by tntrader: I want in damn it
So buy it!!
Even at these prices, I think it is still undervalued. Check out the DD and let me know if I am wrong.
GLTA
Posted by Nemesis on :
Running well today...
Posted by Doctoall on :
quote:Originally posted by justplayin:
quote:Originally posted by tntrader: I want in damn it
So buy it!!
Even at these prices, I think it is still undervalued. Check out the DD and let me know if I am wrong.
GLTA
I agree even at these rock bottom prices it is still a great entry point Posted by tntrader on :
ya, but .0005 or 6 is so much more sweet than .0008.
I may still go for it though, as I really think it will see .01 or higher in the future.
Posted by justplayin on :
Morning Doc.
Off topic: Are you staying high & dry. I have hear about all the rain and devestation in CA. I hope the rain stops and CA can dry out a bit.
Posted by going for gold on :
go ican,i want to see 0.001
Posted by Leardron on :
You know, one thing I was thinking that would be huge down the road is this. Once they complete the purchase of the Sanibel Steakhouses that they decide to franchise it. I could definitley see them doing that and man, talk about the bucks that would flow from that!
Posted by tntrader on :
FYI, I got in at .0006 ! Patience worked for me.
Posted by Doctoall on :
quote:Originally posted by justplayin: Morning Doc.
Off topic: Are you staying high & dry. I have hear about all the rain and devestation in CA. I hope the rain stops and CA can dry out a bit.
Northern CA here so not as west as So Cal at this time, we do get our share, we had 2 tornados touch down in Sacramento yesterday. That is so not usual for us.
Okay ICAN we need a push upwards in the PPS Posted by Doctoall on :
February 22, 2005 11:17 AM US Pacific Timezone
IBAC Corporation CEO Tonight to Discuss Company's Strategy and a Question & Answer Session During a Live Interview
DALLAS--(BUSINESS WIRE)--Feb. 22, 2005--Dan York Administrator for www.paltalk.com Sterling's Classroom today confirms that tonight IBAC Corporation (Pink Sheets: ICAN), CEO will participate in their free public forum for a CEO Interview tonight February 22, 2005 at 9PM EST. Edward W. Hayter, the Company's President and Chief Executive Officer, has confirmed the invitation.
"I look forward to addressing any and all questions or comments regarding our company from shareholders and non shareholders alike, as this will give me the opportunity to set the record straight on many issues regarding our company and the company's plans moving forward," said Edward W. Hayter President & CEO.
For all interested if you are not a member of PalTalk already you can download a version of the required software for free at: http://www.paltalk.com/PalTalkSite/
Due to the anticipated response we will be adding additional room capacity via, "ICAN Overflow Rooms" that will be created in the "Miscellaneous" category under the heading "Groups" for entering. No required password will be needed to gain access to the forum.
About IBAC Corporation: IBAC Corporation, a food and beverage services/restaurant/hotel holding company based in New York, NY. Operates through its subsidiaries, The Sanibel Restaurant Group, National Hospitality Management Services and The Royal Arkansas Hotel & Suites.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant and hospitality industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contacts
PalTalk - Sterling's Classroom Dan York, 214-675-2531
Posted by homer_0 on :
Hi,
This is my first time posting here, but have been reading up on this stock for quite a while. How high do you think this stock will get? And how long are you guys that bought shares going to keep it for?
Posted by Doctoall on :
February 22, 2005 11:23 AM US Pacific Timezone
International Broadcasting Corporation Announces New Sponsor for ``Stock Talk LIVE'' Radio Show: IBAC Corporation
PHILADELPHIA--(BUSINESS WIRE)--Feb. 22, 2005--International Broadcasting Corporation (OTCBB:IBCS), announced today that it has signed on a new sponsor for its radio talk show "Stock Talk LIVE." IBAC Corporation (OTC:ICAN) is the latest sponsor for the show. "Stock Talk LIVE" is a fully interactive business radio talk show focused exclusively on micro-cap stocks. The show is "on-the-air" each and every stock market day from 9:30 AM to 4 PM EST.
Interactivity, interesting guests, and significant short-term trading opportunities are featured in each edition of "Stock Talk LIVE." Interviews, commercials, and news updates about IBAC Corporation will air on the show. IBAC Corporation will also get additional exposure on other programs that air on the IBC Radio Network.
About IBAC Corporation
IBAC Corporation is a food and beverage services/restaurant/hotel holding company based in New York, NY. IBAC Corporation operates through its subsidiaries, The Sanibel Restaurant Group, National Hospitality Management Services and The Royal Arkansas Hotel & Suites.
About IBC Radio Network
IBC Radio Network (www.IBCRN.com) is a radio service with a unique, all-talk format distributed coast-to-coast and worldwide to radio affiliates via satellite. Content includes business, news, science, and paranormal content. IBCRN exclusively carries "Stock Talk LIVE."
Statements in this press release other than statements of historical fact are ``forward-looking statements.'' Such statements are subject to certain risks and uncertainties including the demand for the Company's services, litigation, labor market, and other risk factors identified from time to time in the Company's filings with the Securities and Exchange Commission that could cause actual results to differ materially from any forward looking statements. These forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements. The disclaimer for sponsors is located at http://ibcnn.com/disclaimer.htm
Contacts
International Broadcasting Corporation Daryn P. Fleming, 402/742-0493 invest@ibcmedia.com
Posted by Leardron on :
Sorry about that Doc. You beat me too it. That is still good news. Good way to get their name out to investors.
[ February 22, 2005, 14:45: Message edited by: Leardron ]
Posted by homer_0 on :
What is the highest you guys have seen this stock hit?
Posted by Leardron on :
quote:Originally posted by homer_0: What is the highest you guys have seen this stock hit?
Well, I have only been tracking it for the last 2 months so this is the highest I have seen it but from looking at the history, it has been much higher.
Posted by dodint on :
I have a limit in at .0006
I REALLY want in but I'm not going to chase. Not today at least.
Posted by Leardron on :
quote:Originally posted by dodint: I have a limit in at .0006
I REALLY want in but I'm not going to chase. Not today at least.
Well here is your chance. I don't have level IIs but it looks like the MMs moved the Ask down to .0006 to pick up all the buy orders there. My guess is it will close at .0007. They will move it back to .0007 before it closes.
Posted by homer_0 on :
You probably will get it.
Posted by Leardron on :
.0007 close, not bad. Let's hope it doubles that tomorrow. Hope Ed has all the right answers tonight.
Posted by dodint on :
Blah. Not filled. I wonder if trying to get in at .0006 tomorrow will be worth the effort or if I should chase to .0008.
Posted by ARI on :
Question: Has anyone signed up for paltalk? If so where do I find the discussion on the site? I downloaded the software to use paltalk but cant seem to find where they will be talking to Ed. Any help would be appreciated...Thanx
Posted by homer_0 on :
Yea, I read that too, about the little answer/question session. Thats neat. Sorry, I do not know anything about paltalk. And yea, I too hope it goes up way way higher tomorrow! Well, till then!
Posted by Leardron on :
quote:Originally posted by ARI: Question: Has anyone signed up for paltalk? If so where do I find the discussion on the site? I downloaded the software to use paltalk but cant seem to find where they will be talking to Ed. Any help would be appreciated...Thanx
from what I see once you login you click on the tab at the top that says groups. Then there is a group for business and finance. You click on that and I think you will see a room for the chat when it gets close to the time. There is also a group called miscellaneous, which he was talking about in the PR, and if you can get into the group on the business and finance section, get into the group in miscellaneous. Hope this helps
Posted by ARI on :
thankx leardon I'll try those. Hopefully if I can't figure it out (I am somewhat computer challenged) you all will let me know all the great news...
Posted by going for gold on :
i bet you,by he end of the week,it should go 0.001 or more,some lesson to be learned,do you maths and then you judge about a stock,i had a nice gain today but still holding till we reach 0.04
Posted by BaxterBessieMama on :
quote:Originally posted by going for gold: i bet you,by he end of the week,it should go 0.001 or more,some lesson to be learned,do you maths and then you judge about a stock,i had a nice gain today but still holding till we reach 0.04
Curious, how did you come up with the .04 figure? TIA
Posted by dellamorte dellamore on :
Didn't get filled , but i'll be back tommorow , everything comes down eventually .
Posted by Ric on :
Might want to be careful though. Its known to drop as fast as it rises. Good thing is it does move back up if you get caught but not sure I will buy at this price. Will wait for bottom again. Then again maybe I will miss the boat but chart looks like a roller coaster right now.
Been reading up on dd. Some are posting information wrong on this. Not to say this is a bad investment but some are reading the dd wrong. This company is not going OTC, its spining off its resturant business to a OTC company in exchange stockholders here will get some form of dividend for the spinoff. Who know if they will be restricted or not. This will still be a pinksheet though and will become a radio stock talkshow. Not sure of the value of that but as with any pinksheet the risk is high and rewards can be too if lucky. Just watch out. Looks to be a better in and out at least with part of your shares if nothing else.
Posted by jake_the_snake on :
I sold out at .0007 I was in at .0003. Good Luck to All of You who are still holding!!
Posted by ARI on :
Is anybody listening to paltalk? I can't seem to figure it out....very frustrating!!!!
Posted by unreal33 on :
yea, the audio is very poor
Posted by Leardron on :
Outstanding Interview!!! Interview answered alot of questions. I will post what was found out. GREAT INFORMATION. Here is what I found out in a nutshell.
Current share structure is this: Authorized shares stand at 20 Billion Outstanding shares stand at 7.3 Billion (6.3 Billion of these shares are restricted and totally owned by Mr. Hayter. 1.3 Billion are in the general float)
Company currently has just under 1 Million dollars in Cash.
Mr. Hayter has currently purchased over 200 Million of the 500 Million shares to date and plans on purchasing the entire 500 Million.
The overall plan is to spinoff some or all of the current assets (Sanibel group, Arkansas Hotel and Suites, and Pine Bluff Convention Group) to an OTCBB Stock. He hasn't decided yet whether to spin them all off or just some. It sounds like he leaning toward splitting up the assets. The Sanibel Group will be the first one to spinoff as they will be done with the audit on that first.
This is one of the big ones. The Shares we get from the spinoff company will NOT be restricted. They will be free trading shares when the dividend is given out.
He said the audit is in the early stages and doesn't have a time frame as to when it will be complete.
Not sure if company is naked shorted and was told by accountants that if he wanted to find out that they would have to halt trading for a few days to do an audit. He doesn't want to do that at this time as he feels it will be a detriment to the company. The spinoff audit will help to care of this.
Another big one. He said absolutely NO REVERSE SPLIT.
Some other interesting facts: The Arkansas Hotel and Suites is currently worth 19 Million Dollars. They only have a 1 Million dollar mortgage on it which means they own 18 Million dollars of it free and clear.
They also get 100% of the revenues created by the food, drink, and entertainment from convention center. They are also in the process of looking to purchase a production company for entertainment at the convention center.
The Revenues are already up $50,000 for the year over last year in the Arkansas Hotel and Suites.
Once all 3 restaurants are purchased they will generate 14 Million dollars revenue to the company and about at 10 to 15% profit per year (1 to 1.5 Million dollars!)
Another big one. ICAN is CURRENTLY a Profitable company. All current entities they control generate a profit!
There was a question about a 504 and he said there was a 504 executed already for 1 Billion shares which is 40% of the 504 but he doesn't expect the holder to execute the remaining 60% in the near future as he is on board with growing the company.
Another Big one! Wants to grow the Sanibel Brand name through Franchising.
He says the reason the TA was given a gag order about their financials is because they requested it. He said they were getting flooded with calls and the TA couldn't handle it. He agrees with the stockholders, however, that they should be able to call the TA to get this info and it currently in the works to work out a deal to lift the gag order.
Finally he says that with the value of their assests and and profitability, he feels the stock should be trading at .03 to .05 pps.
This was an Hours worth of questions. Some started repeating themselves but these were all of them in a nutshell.
Posted by ARI on :
I missed some of it but here is all I could gather........
There is NO relationship with PRRM. NO association or affiliation whatsoever and they are asked that question a lot
Q. Can u explain why ICAN is innovative
A. They have an aggressive management team. They have over 100 employees. They have Mr. Becker w/over decades of experience.
Replacement value of hotel is 19 million dollars. There is 18 million in equity in that asset
10K sq. feet of office space, 200 suites, it's part of the Pine Bluff Community.
If you go to Pine Bluff convention center and you eat sleep there , there is revenue to ICAN
They're also going to bring shows to the convention center which will bring additional revenues
The santa bell restaurant group in Fort Myers, revenue this month alone is up 50,000 dollars over last years' revenues for this month. Last year was 137K in one month and today it's around 187K this month.
He thinks they'll maximize revenue and profits with the people they have at the helm
ICAN is profitable right now. They will utilize the assets that will give the best return to the shareholders.
Mr. H has invested his own millions into this venture. His investment company is Turner something?
Q. do you have intentions on selling your shares and increase dilution
A. NO I do not. If I sold shares into the market, I would dilute my own investment. No I am not doing that.
Q. When is the date of record for the dividend. Has it passed?
A. No it will be soon.
Q. Where do you see yourself in 5 years
A. On the NASDAQ small cap and a large holding company owning restaurants and hotels generating 50million to 100 million per year.
Q. Have you purchased the OTCBB shell?
A. Yes we have. It is pending closing, but yes we have.
Q. Is ICAN profitable?
A. Yes ICAN is profitable and all subsidiaries turn a profit.
Q. Do you have an IR firm?
A. Not yet we're getting large enough now where we may need an IR firm. Although he enjoys talking to the shareholders, he is extremely busy during the day with day to day operations... so he is considering getting an IR firm.
Q. Do you plan to purchase the 400 to 500 million shares of ICAN
A. Yes I do. I feel ICAN is undervalued at these prices and I believe in the company.
Q. Is there any chance for a reverse split.
A. "ABSOLUTELY NOT" because we don't want the prior shareholders to be hurt. The answer again is "ABSOLUTELY NOT"
Q. Do you plan on pr'ing the amount of shares bought back?
A. Absolutely when the purchase is complete, we plan on pr'ing the total that has been re-purchased.
Q. Pine Bluff is not a tourist hot spot what drives people to that area.
A. we only need 20 percent occupancy to break even and true, it's not a tourist hot spot but there is a lot there. Pine Bluff has the largest company that dis assembling armament, Tyson food has a plant, University of Arkansas is there too.
The key is there is a lot of industry there.
Q. The warrant, what is the price of the warrant?
A. The warrant is 20% below market?
Q. Do you have plans on abandoning ICAN and having it be an empty shell?
A. NO. ICAN will always have assets with the intent "to grow it".
Q. The otcbb is a shell in which you're going to put assets into correct?
A. That is correct.
Q. What is the burn rate
A. There is NO Burn rate. The company is NOT losing money. Every company bought supports itself. They will furnish annual reports and if there is a windfall there will be dividends.
Q. Explain the float again
A. At the time they had a major announcement, the holder of the warrant exercised part of his warrant. The CEO published that information immediately and did not withhold it.
Q. What do you like about the restaurant?
A. Very brandable name of the steak house. Liked the name and plan on growing it as
Q. Another question about ICAN and possible naked shorting and does he have plans
A. Obviously I look for reasons that our share price doesnt' move up. That is a convenient excuse. Can I prove it? No. Could it be happening? Yes. But when we become fully reporting that will come to a stop.
Q. Is there a timeline for ICAN to become fully reporting?
A. His schedule is to have it fully reporting at least at the middle or the end of the second quarter.
still working there is a little more.....
Posted by ARI on :
Q. Are overseas ventures possible.
A. The company's philosophy is to look at all acquisitions that generate revenue. Currently looking at an acquisition in Chicago and another company in Florida. Anything that we acquire, must stand on its own. Must not be in the red and must be able to stand on its own.
Q. How much cash does ICAN have A. 950K
Q. Who supplies food and drink? A. On what location? -- in Arkansas it's Arkansas vendors -- in Florida it's Florida vendors -- those decisions are left to those individuals executives in charge of those operations.
Q. If you think your company is worth 3-5 cents, why aren't you buying more shares?
A. Because I already have 6 billion shares and there has to be some sort of a float.
Q. Are the 500 million being purchased, being purchased from the 1.3 billion in the float?
A. Yes, that is correct and it's being purchased for my personal account.
Posted by Leardron on :
I see you where there too ARI. I thought the $50,000 profit was the Hotel? Either way it is still good. What do you think overall? GREAT NEWS in my opinion.
Posted by ARI on :
Agreed leardon This could not have gone better in my opinon.....Ed was very professional. If Ed going on paltalk was to strengthen investor confidence I think it worked, at least for me. I have nothing but confidence in this one now.....
Posted by Ric on :
Well one thing I know is hotels. Being a GM for 6 years of 2 different hotels. I did a search of the hotel. Its a 5 story 200 room hotel with rates at 69 to 89 dollars and rated by Expedia and Travelocity at only 2 stars. From this information and the pictures its only a 5 million dollar hotel at best. So if he states it at that much of a premium, what else is he overstating? Just a thought. Also if there is 6.3 restricted then there can not be 1.3 in float. It doesn't add up. Besides if float was that low with the volume we had today then this would have skyrocketed.
Ric
Posted by Leardron on :
I agree with you totally. Ed was very professional and sounded very experienced. He gave out alot of great news that makes this company very solid and almost seems unreasonable that it is on the pinks because it doesn't belong there. I feel very confident too. Hopefully it will be reflected in the pps tomorrow Posted by ARI on :
Funny ric. I work in A hotel, I'm a Doorman. Correct me if I'm wrong but can't A smaller Hotel @ 2 stars can be just as profitable as a property that is 5 star and larger, if not more, it all depends on management. I think.....I am not a GM but I do understand how Hotels make $$$$ Am I wrong Ric?
Posted by Leardron on :
quote:Originally posted by Ric: Well one thing I know is hotels. Being a GM for 6 years of 2 different hotels. I did a search of the hotel. Its a 5 story 200 room hotel with rates at 69 to 89 dollars and rated by Expedia and Travelocity at only 2 stars. From this information and the pictures its only a 5 million dollar hotel at best. So if he states it at that much of a premium, what else is he overstating? Just a thought. Also if there is 6.3 restricted then there can not be 1.3 in float. It doesn't add up. Besides if float was that low with the volume we had today then this would have skyrocketed.
Ric
Well you either believe him or you don't. Hearing him, I believe him. He said actually the value of the Hotel was accually accessed at $20 Million but they have it insured for $19 Million. I am not casting aspersions on you RIC but you haven't been there and are only going by pictures. These are the facts he gave. Also on the pps, you now have to figure that this stock is being shorted. I guess we will see. Aside from the Hotel, the Sanibel restaurants are also very profitable so all in all I would say it looks very good.
Posted by Ric on :
You can buy if you want to, Just given you facts. Take the way you want. Help with the owner with planning a brand new hotel before retiring over the summer. Do you know what the morgage payments are on that large of a loan. I do. Beside search it yourself and see the hotel. It wasn't special. I aso included the convention part in that price of 5 million. Pictures of that on site orbitz to. It may have been 19 million when new but it isn't now. Rates also tell alot about how well you are doing and at those rate its not doing the business of a 5 star hotel. Besides hotel business is real bad right now across the board. Industry has been hurting bad over the last few years. Just was giving fact of my dd. Buy if you like. It's your money.
Posted by ARI on :
Thankx Ric As always your insight is respected and appreciated...
Posted by Leardron on :
Ric. Did a quick search on the Hotel and found this. This is from Lodging.com about the Hotel. This might change your opinion
Pine bluff s only full service hotel. the former Ramada and pine bluff convention center hotel is Being lovingly restored by its new owners to a 4 Star hotel. the royal arkansas hotel suites Features a beautiful 5 story atrium lobby 200 Over-sized guest rooms that feature king or twin- Queen beds plus suites with microwaves Mini-refridgerators hair dryers irons ironing Boards and coffeemakers. the hotel features all Day dining in its lobby restaurant and also Opening soon an italian restaurant steakhouse Plus a lounge open nightly *except sundays* and An indoor pool.
Looks Like Ed is going to make it a 4 star!
Posted by Ric on :
Leardron, Even though I disagree on the hotel and being in the business would never invest in one right now in this market, the restaurant business is doing great right now. I still get my Hotel/Restaurant magazines here. The restaurants has been doing very well lately. Not sure what kind of restuarant they own but that looks better then hotel business IMO. Give good with bad. Don't want you to think I am bashing here. Just there was no way the hotel numbers add up.
Ric
Posted by Ric on :
Unfortunately I was GM of one of those remodeling Ramada's. We don't want to go there. And write ups are done by hotel, you should have read mine. You thought you were getting a 5 star. But still, I seen the room pictures. It didn't look like a dump, I wasn't saying that. It just wasn't a 19 million hotel even if being renovated.
Ric
Posted by Leardron on :
quote:Originally posted by Ric: Leardron, Even though I disagree on the hotel and being in the business would never invest in one right now in this market, the restaurant business is doing great right now. I still get my Hotel/Restaurant magazines here. The restaurants has been doing very well lately. Not sure what kind of restuarant they own but that looks better then hotel business IMO. Give good with bad. Don't want you to think I am bashing here. Just there was no way the hotel numbers add up.
Ric
I don't think you are bashing at all. You made a fair assessment given what info you had. I just wanted to make sure everyone has that information. I don't see how you can still make the same assessment of the value of the property if they are restoring the Hotel to a 4 star status.
Posted by Leardron on :
quote:Originally posted by Ric: Unfortunately I was GM of one of those remodeling Ramada's. We don't want to go there. And write ups are done by hotel, you should have read mine. You thought you were getting a 5 star. But still, I seen the room pictures. It didn't look like a dump, I wasn't saying that. It just wasn't a 19 million hotel even if being renovated.
Ric
I agree that 19 Million is probaby over the value just like homes are always assessed at higher than they would get on the market but I can't believe that it is only worth a quarter of the assessment. But in any event, I agree that the Sanibel Restaurants are the more lucrative assets by far.
Posted by rickpic on :
Sorry I haven't gotten in here! Been real busy with other boards and PRs and PalTalks and IMs and E-Mails LOL! Great interview tonight for Ed Hayter and ICAN. Its a winner in my book!
Good Luck and Cheers all Rick
Posted by tntrader on :
Looks like the interview went well. I just hope he keeps his word on the reverse splits.
Posted by unreal33 on :
I'm still a little confused, I'm hearing that ICAN will not be going to OTCBB, but rather the spin off will be free shares of a OTC stock... but in the interview Ed mentioned multiple times, they are aiming to become a fully reporting company... wouldn't that put them on OTC??
overall I think the interview was a success, lets see what happens today
Posted by homer_0 on :
I too thought they were going to the OTCBB, but now I am hearing the same as unreal33? Can somebody please clarify this a for me, being a newbie to pennystock. (ICAN is my first pennystock)
Posted by Leardron on :
Wow, up to .001 already Posted by tntrader on :
Moving well Posted by Doctoall on :
NIce move today Posted by Leardron on :
quote:Originally posted by homer_0: I too thought they were going to the OTCBB, but now I am hearing the same as unreal33? Can somebody please clarify this a for me, being a newbie to pennystock. (ICAN is my first pennystock)
Basically here is the deal. Ed said last night there are two ways to move to the OTCBB. One is to go through the lengthy process of having everything audited and go through the process with the SEC to move your security to the OTCBB. The other way is to spinoff your assests to a shell that is already on the OTCBB and give your shareholders shares of the OTCBB stock. Now he also said he is not sure if he is going to spin all the assets off. He doesn't want ICAN to just become a shell so he sounds like he is leaning toward splitting them up. Also it sounds like any new acquired assests will go under ICAN.
Posted by stockguy123 on :
I don't trust this one to hold its pps, too much like the PRRM and GXXL scenarios
Posted by Doctoall on :
Its doing great this morning, It will hold its PPS and is far from being like PRRM or GXXL
GO ICAN Posted by stockguy123 on :
It won't last, they never do, but its a good p&d for those who got @0004 or less
Posted by justplayin on :
This is a "REAL" company with real revenue, nothing like PRRM or GXXL.
They may be small still, but they are making the right moves IMHO.
There will be a downturn as people sell off for big profits. We will find a new base above the .0003-.0004 range, and stage for the next move up.
Posted by Doctoall on :
quote:Originally posted by justplayin: This is a "REAL" company with real revenue, nothing like PRRM or GXXL.
They may be small still, but they are making the right moves IMHO.
There will be a downturn as people sell off for big profits. We will find a new base above the .0003-.0004 range, and stage for the next move up.
Great call I agree. I also believe in ICAN Posted by stockguy123 on :
Actually its just about identical to PRRM and playing the GXXL spinoff game. Neither ICAN or PRRM has ever filed a financial report with the SEC so revenues are unknown
Posted by Doctoall on :
quote:Originally posted by stockguy123: Actually its just about identical to PRRM and playing the GXXL spinoff game. Neither ICAN or PRRM has ever filed a financial report with the SEC so revenues are unknown
So are you holding any ICAN shares?
Posted by stockguy123 on :
Not anymore, like I said it was a good P&D
Posted by Doctoall on :
quote:Originally posted by stockguy123: Not anymore, like I said it was a good P&D
So if you made you bank, why are you still here?
Posted by stockguy123 on :
Same as you, post my opinion about ICAN
Posted by Doctoall on :
quote:Originally posted by stockguy123: Same as you, post my opinion about ICAN
So did you voice that opinion when you were Pumping & Dumping??? I bet "NOT"
The difderence here is that I "still own the stock" and "you don't". Posted by stockguy123 on :
I don't P&D, you sound like you do. Don't get mad now that its dropping.
Posted by justplayin on :
ICAN releases pr's that are truthful. They have followed through on every promise to their shareholders. They also state that they are in the process of aligning the company with a fully reporting company to add shareholder value. Also, they received an unsolicited offer on existing properties (assets).
I have every reason to believe the current management and their goal to add to shareholder value.
Yes, this will be day-traded and find new highs and lows, but this will continue to go up in value.
JMHO
Posted by Leardron on :
Anyone have the level IIs on this?
Posted by Doctoall on :
quote:Originally posted by stockguy123: I don't P&D, you sound like you do. Don't get mad now that its dropping.
I am not mad, this is a LONG hold for me, so the PPS drops today and back up tomorrow.
Like I said its a LONG for me Posted by homer_0 on :
I really hope this shoots up a little more...and stays!
Posted by going for gold on :
probally 'll keep in range 0.0007-0.001,but i go for the long term
Posted by Doctoall on :
Has anyone seen any postings from RicPic lately?
Posted by Leardron on :
News Out!
IBAC Corporation Completes the Formation of a Wholly Owned Entertainment Subsidiary
NEW YORK, Feb 23, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:ICAN) today announced the formation of a wholly owned entertainment subsidiary named The Royal Entertainment Group, Inc. "We are very excited about the formation of this new entity, as we will be using this subsidiary to book concerts and events into the Pine Bluff Convention/Arena Complex, thus increasing traffic to the complex and the company's restaurants, bars, concessions at the convention center and hotel. We are currently negotiating dates with such artists as BB King, Ashford & Simpson, Al Jarreau, Roberta Flack and other acts with the intent of producing at least one show every six weeks or so. It is the company's intent to maximize its revenue stream through out the entire complex," said Edward W. Hayter President.
The Newly formed subsidiary will be responsible for bringing first class entertainment to the complex in the form of plays, music , sporting and other events. Currently the company is working on a full slate of events for the remainder of the 2005 season with offers pending on several shows and events, as this will create another source of revenue to the company while enhancing traffic to the complex.
IBAC Corporation currently operates through its subsidiaries National Hospitality Management Services and The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites and The Royal Entertainment Group, Inc. The company has some 100 employees and with the addition of the two contracted Sanibel Steakhouses the company will then have some 175 to 200 employees.
The company continues to aggressively seek additional synergistic acquisitions or mergers to enhance assets and revenue stream while it negotiates some current prospects.
About IBAC Corporation: (Pink Sheets:ICAN). IBAC Corporation, a food and beverage services/restaurant holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group and National Hospitality Management Services, IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Posted by Doctoall on :
Nice PR with some effect on the PPS Posted by Leardron on :
quote:Originally posted by Doctoall: Nice PR with some effect on the PPS
Yes, it is. Ed coming through as promised again.
Posted by Doctoall on :
PPS is moving back up
GO ICAN Posted by rickpic on :
The ICAN HISTORY!
The Following is a complete history of Ibac Corporation (Pink Sheets:ICAN) starting with the most recent announcement.
FEB 23 2005 IBAC Corporation Completes the Formation of a Wholly Owned Entertainment Subsidiary IBAC Corporation (Pink Sheets:ICAN) today announced the formation of a wholly owned entertainment subsidiary named The Royal Entertainment Group, Inc.
"We are very excited about the formation of this new entity, as we will be using this subsidiary to book concerts and events into the Pine Bluff Convention/Arena Complex, thus increasing traffic to the complex and the company's restaurants, bars, concessions at the convention center and hotel. We are currently negotiating dates with such artists as BB King, Ashford & Simpson, Al Jarreau, Roberta Flack and other acts with the intent of producing at least one show every six weeks or so. It is the company's intent to maximize its revenue stream through out the entire complex," said Edward W. Hayter President.
The Newly formed subsidiary will be responsible for bringing first class entertainment to the complex in the form of plays, music , sporting and other events. Currently the company is working on a full slate of events for the remainder of the 2005 season with offers pending on several shows and events, as this will create another source of revenue to the company while enhancing traffic to the complex.
FEB 22 2005 International Broadcasting Corporation Announces New Sponsor for ``Stock Talk LIVE'' Radio Show: IBAC Corporation International Broadcasting Corporation ( IBCS ), announced today that it has signed on a new sponsor for its radio talk show "Stock Talk LIVE." IBAC Corporation ( ICAN ) is the latest sponsor for the show. "Stock Talk LIVE" is a fully interactive business radio talk show focused exclusively on micro-cap stocks. The show is "on-the-air" each and every stock market day from 9:30 AM to 4 PM EST.
Interactivity, interesting guests, and significant short-term trading opportunities are featured in each edition of "Stock Talk LIVE." Interviews, commercials, and news updates about IBAC Corporation will air on the show. IBAC Corporation will also get additional exposure on other programs that air on the IBC Radio Network.
Feb 18, 2005 IBAC Corporation CEO T address shareholder during question and answer session on "PalYalk"
Dan York Administrator for www.paltalk.com Sterling's Classroom today announced that he has invited IBAC Corporation (Pink Sheets: ICAN), Management to participate in their free public forum for a question and answer session on Tuesday February 22, 2005 at 9PM EST. Edward W. Hayter, the Company's President and Chief Executive Officer, has accepted the invitation.
"I look forward to addressing any and all questions or comments regarding our company from shareholders and non shareholders alike, as this will give me the opportunity to set the record straight on many issues regarding our company and the company's plans moving forward," said Edward W. Hayter President & CEO.
For all interested if you are not a member of Paltalk already you can download a version of the required software for free at: http://www.paltalk.com/PalTalkSite/ ___________________________________________________________
Feb 17, 2005 IBAC Corporation (ICAN.PK) is in discussions with a Company to sell certain assets of IBAC. In the event that an agreement is reached, the subject assets would be sold in exchange for stock in a public entity trading on the bulletin board market. The public entity would be required to register the stock for distribution to the IBAC shareholders.
The discussions have not been solidified into a formal agreement as of yet, but are proceeding quickly. Any agreement will be subject to proper regulatory approvals and shareholder's consents. Moreover, the transaction would also be subject to an audit of IBAC's financial statements and an appraisal of the assets which would be subject to the sale.
IBAC has already retained an auditor, as previously announced, and intends to distribute an annual report to its shareholders upon completion of its financial statements, regardless of the potential transaction.
IBAC Corporation currently operates through its majority owned subsidiaries National Hospitality Management Services, The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites the company has some 95 employees and with the addition of the two contracted Sanibel Steakhouses in the near future the company will then have some 175 to 200 employees. ___________________________________________________________
Feb 16, 2005 IBAC Corp announces that it has agreed in principle to spin off some or all of its assets to an otcbb company subject to all regulatory approvals & SEC filing requirements.
"The spin off of assets should result in a premium to shareholders (to be determined) once the transaction is completed. The terms and conditions of the spin off will be made public upon completion of agreements along with the otcbb company and symbol. The company intends to execute this agreement as a stock dividend with free trading shares of a fully reporting OTCBB company to ICAN shareholders with the effective date to be announced in the near future. The agreement is subject to completion of audited financials of IBAC's assets and all SEC requirements. " Said Edward W Hayter President & CEO
Feb 10, 2005 IBAC Corporation (ICAN:PK) today announced the completed acquisition of a majority interest in The Royal Arkansas Hotel & Suites. The acquisition was completed at the law offices of Legal & Compliance, LLC of West Palm Beach, Florida
"We are very pleased with the speed at which this acquisition has been completed with a very special thanks to Laura Anthony, Esq, The Royal Arkansas Hotel & Suites will now be under the IBAC umbrella as a majority owned subsidiary of the company as we continue to grow our company." Said Edward W. Hayter- President ___________________________________________________________
Feb 9, 2005 IBAC Corporation (Pink Sheets:ICAN) today announced the formation of an entertainment subsidiary to be named Royal Arkansas Productions, Inc.
"We are very excited about the formation of this new entity, as we plan on using this subsidiary to book concerts and events into the Pine Bluff Convention/Arena Complex, thus increasing traffic to the complex and the company's restaurants, bars, concessions at the convention center and hotel. We are currently negotiating dates with such artists as BB King, Ashford & Simpson, Al Jarreau, Roberta Flack and other acts with the intent of producing at least one show every six weeks or so. It is the company's intent to maximize its revenue stream through out the entire complex," said Edward W. Hayter President.
The company is in the initial stages of having an audit performed for the purpose of becoming a fully reporting entity with the intent of either becoming listed on the OTCBB or Nasdaq Small Cap Exchanges.
The company continues to aggressively seek additional synergistic acquisitions or mergers to enhance assets and revenue stream while it negotiates some current prospects.
Feb 7, 2005 IBAC Corporation (ICAN:PK) today announced the closing date for The Royal Arkansas Hotel & Suites. The closing is scheduled on or before March 1, 2005 upon completed contracts due this week.
"We are very excited about this asset coming into our fast growing company as it will add some 3 to 4 million dollars a year in revenue and enhance our presence within the Pine Bluff Convention Center Complex, along with other current assets this will bring our projected revenues to 7 to 8 Million for this year as the company stands right now. Upon closing the two other contracted Sanibel Steakhouses by years end this will give the company another 5 to 6 Million in revenues over all giving the company through its subsidiaries a combined revenue stream of some 12 to 14 Million dollars per year, we are keeping within are stated strategy of aggressive growth over the next three years ." said Edward W Hayter President
Feb 3, 2005 IBAC Corporation (PINK SHEETS: ICAN), a leading food & beverage/restaurant company today announced that Edward W Hayter, the Company's President and Chief Executive Officer, is purchasing additional stock from the open market for his personal account. Mr. Hayter intends to purchase stock on the open market in accordance with SEC Rule 10b-18.
Mr. Hayter said, "I have strong confidence in IBAC and believe, given our current position, our stock is undervalued and I intend to accumulate up to 500,000,000 shares to add to my portfolio in the near term."
Mr. Hayter added, "With our current assets and revenue stream along with the addition of The Royal Arkansas Hotel & Suites we have shown solid growth and the current quarter looks very good. Along with other prospects I believe our future will be a surprise to the marketplace.
Feb 2, 2005 IBAC Corporation (PINK SHEETS:ICAN) today announced that they have entered into a definitive letter of intent whereby IBAC will acquire a majority control interest in The Royal Arkansas Hotel & Suites, Inc. the transaction is subject to a definitive agreement and all regulatory approvals.
The Royal Arkansas Hotel & Suites is a 200 room five story atrium Hotel on the grounds of the Pine Bluff Convention Center and is attached to the Convention Center. The Hotel features an indoor swimming pool two restaurants a lounge and 10,000 square feet of banquet space and 4000 sq feet of rent able office space in the lobby area. The hotel has a 23M dollar replacement value and was built in 1989 by Kemmons Wilson the founder of Holiday Inn and is approximately 180,000 square feet in size and holds a full liquor license.
The Pine Bluff Convention Center ( www. pinebluffonline.com) has 90,000 square feet of meeting and exhibit space, the Convention Center is the fourth largest meeting facility in the state of Arkansas. This colossal center features a state-of-the-art arena, an auditorium/theater, banquet hall, spacious lobby area, ample parking, full camper hookups, a beautiful park and the Arkansas Entertainers Hall of Fame.
" We have decided on this acquisition to enhance our holdings in Arkansas as IBAC thru its subsidiary National Hospitality Management Services already holds a (5) year contract with (4) renewable (5) year options for the food beverage, concession & banquet services at the convention center and also manages the food, beverage and banquet operations of the hotel. I am very excited about this acquisition as it gives IBAC exclusive revenue from everyone eating, drinking and lodging in the entire convention center complex to IBAC," said Edward W Hayter President
The Royal Arkansas Hotel & Suites is jointly owned by Turner Hughes Corporation and International Hotel Management. Turner Hughes Corporation is a private Investment Banking Firm owned by Edward W Hayter President of IBAC Corporation.
The company also keeping with its aggressive plan for growth over the next three years is in the preliminary stages of negotiating an acquisition of a chain of restaurants in Arkansas that has revenues of 13.5M per year with an EBITA of approximately 1.4M.
Jan 27, 2005 IBAC Corporation (Pink Sheets:ICAN) has recently rejected an offer from a company to purchase The Sanibel Restaurant Group. The potential purchaser valued the offer at $8.45 million, but this valuation was never substantiated by any form of independent review.
The unsolicited oral offer consisted of $1,000,000 cash at closing and a share for share exchange or stock swap agreement with the IBAC shareholders for shares in an OTC Bulletin Board company.
The offer did not contain a bid price per share and was not a tender offer.
IBAC's board of directors believes that the value of its current holdings will increase substantially once the company executes certain contracts and takes possession of two additional restaurants. It is IBAC's opinion that the combined value of the three restaurants with the business of its subsidiary National Hospitality Management will be more beneficial to the company, future growth, and the overall well-being of its shareholders.
Jan 26, 2005 National Hospitality Management Services a subsidiary of IBAC Corporation (PINK SHEETS: ICAN) and the Pine Bluff Civic Auditorium Complex Commission ( www.pinebluffonline.com) will hold a joint press conference on Thursday, January 27, to announce the awarding of the Exclusive Food, Beverage, Banquet Catering and Concession Agreement for the entire complex to National Hospitality Management Services.
The term of the contract is for (5) years with (4) successive options to renew for a term of (5) years each. The commission also agreed that it will not permit the sale of food, beverage, banquet, catering and concession services at the Convention Center by any other person, firm corporation, or entity other than National Hospitality Management Services while the agreement is in effect. The commission also granted the company exclusive rights the Banquet Hall Kitchen and all equipment.
"We are extremely excited about the awarding of this contract to our company as it will increase revenues by 4-5 million dollars and increase our operations in Arkansas above our existing (2) restaurants (1) lounge and 10,000 sq ft of banquet space." Said Gary Becker President of National Hospitality Management Services.
Jan 21, 2005 IBAC Corporation's board of directors have rejected a revised bid, saying it believes the company is worth more than 8.45M.
In citing its rejection of the revised bid, IBAC Corporation (PINK SHEETS:ICAN) said the company is currently trading at the low end of its value, based on its assets, revenue and forecasted future earnings.
The board believes the company has a better plan for stockholders. The unsolicited offer does not begin to reflect the real value, including the value we will create through management's plan to become a fully reporting company and moving up to the OTCBB or a possible reverse merger or a share swap with a fully reporting company, this in combination with the company's current revenue and assets.
"We believe that the rejection of this unsolicited offer is in the best interest of the shareholders as we are pursuing other options to enhance shareholder value, the company is currently preparing audited financials and have instructed the company's attorneys to review two proposed offers of a merger or stock swap with fully reporting companies," said Edward W. Hayter CEO.
The revised bid also valued the company at a price below the rate currently being paid in other transactions in the restaurant/food & beverage industry, IBAC stated.
Jan 18, 2005 National Hospitality Management Services Co. a subsidiary of IBAC Corporation (Pink Sheets:ICAN) announced today that Mr. Barry M. Bennett has been named Executive Chef in charge to over see all banquet and food service operations.
Prior to joining National Hospitality Management Services, Mr. Bennett served as Senior Food Service Specialist for Centerpoint a leading food service management company specializing in the management of food and beverage services at larger facilities and convention centers.
Mr. Bennett has over twenty years of food service industry experience; his last assignment prior to joining National Hospitality Management Services was overseeing the opening of the new Corpus Christi, Texas Convention Center food and beverage operations. He has also overseen large operations in Florida and Texas, Mr. Bennett is a graduate of The Culinary Institute of America.
Jan 13, 2005 National Hospitality Management Services Co., Inc. a food service management/operator of restaurants, banquet facilities and food & beverage services co. a subsidiary of IBAC Corporation (ICAN.PK) today announced their updated first quarter of 2005 event calendar.
"We are very pleased with the contracted services/events so far for the first quarter", said Mr. Gary Becker President of National Hospitality Management Services Co. "We expect to be adding more events to this schedule within the next couple of weeks."
Arkansas Kennel Club, Dog and Kennel Show University of Arkansas Shrine Convention 4 Separate Quarter Horse Rodeos Future Business Leaders of America Arkansas Christian Athletics Assoc Jamboree Square Dancers Minority Initiative (UAPB) Black Pilots of America Department of Labor MPX
These contracted events represent revenue to the company in excess of $250,000.00 for the quarter.
The company today also announced that they have been awarded certain contracts for food & beverage services with a revenue value to the company of 4-5M dollars and will be announced upon executed contracts.
Jan 12, 2005 The Sanibel Restaurant Group, Inc., a subsidiary of IBAC Corporation (ICAN.PK), announced today that the Board of Directors has reviewed the offer for The Sanibel Restaurant Group, Inc. and has concluded it inadequate.
"This offer by a fully reporting public company is unsolicited and only reinforces our belief that we are undervalued as a company, the Board of Directors has reviewed the offer and have countered the terms". Said Karl Wenzel President of The Sanibel Restaurant Group.
The company countered the offer based upon the pre tax proceeds to the company. The offer valued at 6.45M would have resulted in a pre tax profit of only 1.25M to the company which is well below industry multiples.
Jan 11, 2005 The Sanibel Restaurant Group, Inc. a subsidiary of IBAC Corporation (ICAN.PK), announced today that they have reviewed the offer for The Sanibel Restaurant Group, Inc. "This offer by a fully reporting public company is unsolicited and only reinforces our belief that we are undervalued as a company, we have reviewed the offer and are negotiating the terms as the offer stands right now it has a net value to the shareholders of 0.03 per share" said Karl Wenzel, president of The Sanibel Restaurant Group, Inc.
Jan 10, 2005 The Sanibel Restaurant Group, Inc. a subsidiary of IBAC Corporation (PINK SHEETS:ICAN), announced today that it has received an unsolicited offer for The Sanibel Restaurant Group, Inc.
"This offer by a fully reporting public company is unsolicited and only reinforces our belief that we are undervalued as a company" said Karl Wenzel, president of The Sanibel Restaurant Group, Inc.
The company will review the offer and determine if it is in the best interest of the company and its shareholders, The Sanibel Restaurant Group, Inc. upon completion of its contracted obligations will have 135 employees and revenue of 7.5M per year.
Jan 4, 2005 The Sanibel Restaurant Group, a subsidiary of IBAC Corporation (ICAN.PK), announced today that it has completed the acquisition of phase one of the Sanibel Steakhouses contract as previously announced.
"This completed acquisition will add 2.5M in revenue annually to the company and 35 employees immediately, the company has taken possession of the Ft Meyers property as owner/operator effective today." said Karl Wenzel, president of The Sanibel Restaurant Group.
The second phase of the Sanibel Steakhouse acquisition is expected to be completed on or before April 1, 2005 and that will add another 3.5M in revenue and 40 employees with the third and final phase being completed on or before July 30, 2005 adding an additional 2.5M in revenue and 30 employees, total value of the completed acquisition to the company will be revenue of 8.5M per annum with 105 employees.
Through its operating companies, IBAC Corporation owns/operates and manages restaurants & food and beverage service contracts; the company intends to become a fully reporting company by the end of the second quarter of 2005 with a balance sheet directed towards the nasdaq small cap.
The company is currently negotiating other acquisitions and expect to have completed contracts very shortly. It is the intent of the company to increase its Sanibel brand throughout Florida.
Jan 3, 2005 IBAC Corporation (ICAN.PK) today announced that during a Special Meeting of the Board of Directors the Company approved retaining the services of Grubb & Ellis Company one of the nation's largest commercial real estate services firms. Through its offices and affiliates in approximately 90 markets, they provide a full range of real estate services.
"Our Company is very excited about retaining the services of Grubb & Ellis," said IBAC Corporation President & CEO Edward W. Hayter. "As this will help us accelerate our stated business plan and growth objectives. IBAC through its Sanibel Restaurant Group subsidiary intends to grow its brand by acquiring other comparable restaurants and or developing new locations."
Dec 22, 2004 IBAC Corporation (Pink Sheets:ICAN) previously announced that during a Special Meeting of the Board of Directors the Company approved an increase of a nine percent (nine share) stock dividend to be paid simultaneously with the previous announced forward split of one percent (one share).
The share dividend is a forward split and will be effective on January 7, 2005. Stockholders of record will be entitled to an additional ten shares of common stock (free trading) for each one hundred shares of common stock held on that date; shareholders of restricted shares will not receive any additional shares. The proposed forward split is subject to regulatory approval.
Dec 21, 2004 IBAC Corporation (ICAN.PK) announced yesterday after the bell that during a Special Meeting of the Board of Directors the Company approved an increase of a nine percent (nine share) stock dividend to be paid simultaneously with the previous announced dividend of one percent (one share).
The share dividend will be effective on January 7, 2005. Stockholders of record will now be entitled to an additional ten shares of common stock for each one hundred shares of common stock held on that date. The proposed stock dividend is subject to regulatory approval.
"This Ten percent (10%) stock dividend is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership, bring awareness to the company and enhance shareholder value."
The Company would also like to address certain shareholder questions and concerns that have been presented;
Regarding Mr. Richard/Chris Astrom neither man has a management or ownership position with the company as previously stated.
The company will be closing on the first of its three Sanibel Steakhouse Restaurants per the previously announced contract terms on January 4, 2005 and will take possession of that property immediately this will add revenue to the company of 2M dollars plus per year for that location.
The National Hospitality Management Services Co. subsidiary has been awarded certain contracts that will be finalized by January 15, 2005 which brings revenue to the company of approximately 4M dollars plus.
The company intends to become a fully reporting company within the next six months.
The company feels that with its current businesses and contracted acquisitions it will have a balance sheet to support a move to either the otcbb or the nasdaq small cap exchanges within the coming year.
Current Management has been in control of this company for approximately three months and intends to build the company according to their stated business plan and if any person or persons continue to liable, slander, present misinformation or otherwise act in a fashion that is detrimental to the company or its shareholders The Company will seek full retribution of the law.
Dec 20, 2004 IBAC Corporation (ICAN.PK) announced today that during a Special Meeting of the Board of Directors the Company approved an increase of a nine percent (nine share) stock dividend to be paid simultaneously with the previous announced dividend of one share.
The share dividend will be effective on January 7, 2005. Stockholders of record will now be entitled to an additional ten shares of common stock for each one hundred shares of common stock held on that date. The proposed stock dividend is subject to regulatory approval.
"This Ten percent (10%) stock dividend is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership, bring awareness to the company and enhance shareholder value."
Dec 14, 2004 IBAC Corporation (ICAN.PK) announced today the status and progress of the company's business and activities.
The record date for the forward stock split will be January 7, 2005. Stockholders will receive one additional share of common stock for each one hundred shares of common stock held on that date. The mail date for the additional shares will be February 1, 2005.
"This forward stock split is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership and enhance shareholder value."
The scheduled closing date for the first phase of The Sanibel Restaurant Group will be January 4, 2005 at that time the company will take possession of The Ft. Meyers, Florida property. This date was chosen for tax purposes by the sellers.
The company is also bidding on certain food service & concession contracts at various arenas and expects the results of these bids by January 15, 2005.
The company has revamped its web site to better reflect the companies business and to better provide information for its shareholders and customers and will be up and available for viewing by tomorrow 12/15/04.
December 8, 2004 IBAC Corporation (Pink Sheets:ICAN) announced yesterday that during a Special Meeting of the Board of Directors the Company approved a 1 for 100 forward stock split of the Company's common stock (announcement).
The forward stock split will be effective on or about January 7, 2005. (Clarification) Shareholders will get one share of common stock for each one hundred shares of common stock they own on that date. The proposed stock split is subject to regulatory approval. The company apologizes for any confusion that the announcement may have caused.
"This forward stock split is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership and enhance shareholder value."
The company has received hundreds of calls regarding several issues first and for most is the question of a reverse split the company has no plans of a reverse split, secondly the company has been asked about any involvement of a Mr. Chris Astrom and/or Mr. Richard Astrom neither men have any involvement in management or ownership of this company furthermore if anyone persists in implying this the company will pursue any and all legal remedies.
The company has also been asked are we going to do anything to get the company noticed to the investment community. The company elected to reward current shareholders with a bonus and also bring attention to the company with the same bonus for potential new investors, as the company refuses to employ any stock promoters etc. as this is not in the company's or shareholders best interest.
Dec 7, 2004 IBAC Corporation (ICAN.PK) announced today that during a Special Meeting of the Board of Directors the Company approved a 1 for 100 forward split of the Company's common stock.
The forward stock split will be effective on or about January 7, 2005. Stockholders will be entitled to one share of common stock for each one hundred shares of common stock held on that date. The proposed stock split is subject to regulatory approval
Dec 2, 2004 National Hospitality Management Services Co., Inc., a food service management/operator of restaurants and banquet facilities, a subsidiary of IBAC Corporation (ICAN.PK) today announced their first quarter of 2005 event calendar.
"We are very pleased with the bookings so far for the first quarter said Mr. Gary Becker," President & COO of National Hospitality Management Services Co. "We expect to add more events to this schedule within the next couple of weeks."
Prince Hall Grand Lodge Regional Convention (Masons) Arkansas Kennel Club, Dog and Kennel Show University of Arkansas Shrine Convention 4 Separate Quarter Horse Rodeos Future Business Leaders of America Arkansas Christian Athletics Assoc Jamboree Square Dancers Minority Initiative (UAPB) Black Pilots of America
The company today also announced that they have retained the services of Carkoff Interior Design of Memphis, Tennessee a very prominent design firm to advise on their facilities.
Nov 30, 2004 IBAC Corporation (ICAN) announced today that Mr. Gary D. Becker has been named President & Chief Operating Officer of its National Hospitality Management Services Co. subsidiary.
Prior to joining National Hospitality Management Services Co., Mr. Becker served as President of International Hotel Management Corporation of Canada a company with interests in the hospitality industry.
Mr. Becker has over twenty five years of industry experience, with service to Drake International & the award winning Royal Brock Hotel Spa & Sports Club. While receiving his Degree in Business Administration from Waterloo Lutheran University. (Honors Accounting and Economics) Mr. Becker has served as Director of several recognized organizations the Brockville Museum Board, Brockville Center for The Arts, Brockville Symphony, Brockville Chamber of Commerce, Halifax Board of Trade, Greater Boston Chamber of Commerce, and Brockville Historical Society.
Nov 29, 2004 IBAC Corporation (ICAN.PK) has completed the Acquisition of National Hospitality Management Services Co., Inc. a food service management/operator of restaurants, banquet facilities and a lounge. This follows the announcement on November 18, 2004 of the signing of agreements regarding the acquisition. IBAC Corporation will operate its majority ownership interest as a subsidiary. The acquisition has been funded with restricted securities and is expected to generate revenues immediately
Nov 18, 2004 IBAC Corporation (Pink Sheets:ICAN), a restaurant owner/operator and management company, today announced that it has signed the contracts (which are subject to due diligence) to acquire a majority interest in National Hospitality Management Services Co., Inc. as previously announced.
Nov 17, 2004 IBAC Corporation (ICAN) announced today that Mr. Karl Wenzel has been named President & Chief Operating Officer of The Sanibel Restaurant Group, Inc. Prior to joining The Sanibel Restaurant Group, Mr. Wenzel served as President of Caleric Corporation a private holding company with interests in the hospitality industry. Mr. Wenzel has over thirty years of industry experience, with service to the Marriott Corp & Royal-Caribbean Cruise Lines. While receiving his Master Chefs designation in 1971 from the famous Steigenberger Hotel & Management School. Mr. Wenzel was designated by The Chaine des Rotisseurs in Paris and is also a member of the Maitre de Cuisine of France, The Etol of Escoffier, and World Master Association in Singapore. He has also hosted television shows on PBS & The Family Channel and has authored three books published in five different languages.
Nov 16, 2004 IBAC Corporation (OTC.PK:ICAN), today announced that it has signed the contracts (which are subject to due diligence) to acquire a majority interest in National Hospitality Management Services Co., Inc. as previously announced. The acquisition consists of a management company that will operate two restaurants, lounge and over eight thousand square feet of banquet space within a major hotel. The Hotel is part of the Pine Bluff Convention Center complex in Pine Bluff, Arkansas the anticipated gross revenue to the company should be in excess of four million dollars a year.
Nov 8, 2004 IBAC Corporation (OTC:PK:ICAN) has entered into a definitive letter of intent whereby IBAC will acquire a majority control interest in National Hospitality Services Co., Inc.
Oct 25, 2004 IBAC Corporation (OTC.PK:ICAN), today announced that it has retained the services of Bagell, Josephs & Company as auditors & financial advisors. "We are pleased to engage the services of Bagell, Josephs & Company as auditors & financial advisors. As a well respected accounting & auditing firm we will rely on their expertise and experience for the current acquisition of The Sanibel Restaurant Group, Inc. and further acquisitions and/or mergers," said Edward W. Hayter, IBAC President & CEO."
Oct 20, 2004: ICAN - IBAC Corporation Has Executed Contracts to Acquire the Sanibel Restaurant Group, Inc. as Previously Announced by a Definitive Letter of Intent! The acquisition consists of three upscale steakhouses located in Ft. Meyers, Bonita Springs & Naples, Florida. The acquisition is a three phase contract with the first of the restaurants scheduled to close on or before December 31, 2004 upon completed acquisition of all three restaurants the anticipated gross revenue to the company should be in excess of eight million dollars a year.
Oct 19, 2004 IBAC Corporation (OTC.PK:ICAN), a restaurant owner/operator and management company, today announced that it has signed the contracts (which are subject to audit) to acquire a majority interest in The Sanibel Restaurant Group, Inc.
Oct 12, 2004 IBAC Corporation (OTC.PK: ICAN) announced today that it has signed an agreement with SmallCapVoice.com to assist in implementing a comprehensive investor relations program for the company. SmallCapVoice.com, Inc. Stuart T. Smith, 760-643-1946 760-643-1947 (fax)
Oct 6, 2004 IBAC Corporation (OTC:PK: ICAN) has entered into a definitive letter of intent whereby IBAC will acquire a majority control interest in The Sanibel Restaurant Group, Inc. The transaction, is subject to a definitive agreement and due diligence. Closing is expected December 2004. Edward W. Hayter president and CEO of IBAC Corporation said: "we are enthusiastic about this acquisition. It is the first phase of our business plan."
Oct 5, 2004 IBAC Corporation (Pink Sheets:ICAN) today announces that a new management team has been appointed with stock ownership in the corporation and will operate a group of premier dining establishments within IBAC Corporation. Edward W. Hayter is the new president and CEO of IBAC Corporation which trades under the symbol ICAN. Mr. Hayter said: "he is enthusiastic about the future of acquisitions & mergers into the company and enhancement of shareholder value".
IBAC Corporation Investor Relations, 718-891-8188 Investorrelations@ibaccorp.com www.ibaccorp.com Posted by rickpic on :
There ya go Doc!
Rick
Posted by homer_0 on :
Hope it closes atleast at .0008. Either way, I'm going to hold on to this one for a long while. What exactly is happening w/ the stock going to the OTCBB?
Posted by rickpic on :
Well I'll say this! As to the OTCBB move Ed Hayter said "There would be little warning so as to give present shareholder the advangage of the move up!"
Chers Rick
Posted by tntrader on :
rick, can you explain what exactly we would experience as shareholders when/if it happens?
Posted by justplayin on :
To move to the otcbb, the company has to be fully reporting. There are MANY investors and day-traders that won't touch a pink sheet stock.
Once ICAN moves to OTCBB, it will attract a new set of ivestors, thus rising demand for the stock and raise pps.
Also, once the company becomes fully reporting, we as shareholders and investors will be able to determine the current vaule of the company based upon shareholder value.
It's a good thing to move off pinks!!
Posted by Penny_Guy on :
Just wanted to chime in and say I love this stock. I bought about 2mil before back when it was at .0002 and another 1mil at .0003. I don't really follow it everyday and this is my first time posting about it. The way I see it. It will hit .01 this year. In that, doing the math. I spent $1000 total. So if this baby hits a penny, and when it does, I'l be sitting on $30,000. Not bad if you ask me.
Most companies come out with crap PR's left and right, always staying away from the big move up to OTCBB land. That way they can lie and steal our hard earned money. But with ICAN it seems like they want nothing less than to see the PPS go up. When was the last time you saw a CEO come out and say he intended to buy up 40% of the float for personal use. He obviously knows the Co better than anyone else. Seems to me like a sure thing.
Besides, I only spent $1000. Not harm so far. Made a good profit. Could have sold. But like I said I see penny land down the way.
About the OTCBB. I believe it will be sometime in the 2 quarter he said. That's really not to far away. My guess is that we'll see .01 by then. Especially with all of the moves these guys are making. Well I'm done rambling. Good Luck to you all. Thanks to those who sold. I'll make sure to stock up on some more at your expense.
Posted by duediligence1 on :
The company is not moving to OTCBB it is spinning off part of the company to a shell that is a OTCBB. ICAN will remain a pinksheet. You will get shares in the OTCBB spinoff. In other words you will recieve dividends in a OTCBB company after the spinoff plus have your original shares of ican.pk. ICAN does not need to report anything. It will remain a pink. The spinoff is already reporting because it already is a OTCBB.
quote:Originally posted by justplayin: To move to the otcbb, the company has to be fully reporting. There are MANY investors and day-traders that won't touch a pink sheet stock.
Once ICAN moves to OTCBB, it will attract a new set of ivestors, thus rising demand for the stock and raise pps.
Also, once the company becomes fully reporting, we as shareholders and investors will be able to determine the current vaule of the company based upon shareholder value.
It's a good thing to move off pinks!!
Posted by Leardron on :
quote:Originally posted by duediligence1: The company is not moving to OTCBB it is spinning off part of the company to a shell that is a OTCBB. ICAN will remain a pinksheet. You will get shares in the OTCBB spinoff. In other words you will recieve dividends in a OTCBB company after the spinoff plus have your original shares of ican.pk.
quote:Originally posted by justplayin: To move to the otcbb, the company has to be fully reporting. There are MANY investors and day-traders that won't touch a pink sheet stock.
Once ICAN moves to OTCBB, it will attract a new set of ivestors, thus rising demand for the stock and raise pps.
Also, once the company becomes fully reporting, we as shareholders and investors will be able to determine the current vaule of the company based upon shareholder value.
It's a good thing to move off pinks!!
The nice thing about it is that the new shares will NOT be restricted and also I like the fact that ICAN will still have assets associated with it. Sanibel will be the asset that gets spun off which makes sense because it probably has the largest upside and growth potential. I fully expect that he will keep the Pine Bluff Hotel and convention center on ICAN for quite a while till they get it where they want it. It almost seems like he is going to use ICAN as the starting place for assets that he wants to grow. Then when they reach a certain point, he will spin them off to their own stock. This way ICAN won't be dumped because if you want shares of the new stock when he spins off an asset you will have to own shares of ICAN because the dividend will be based on that. Pretty smart if you ask me.
Posted by duediligence1 on :
Wish I knew what the shell OTCCBB was. Would be real nice to buy shares in that shell right now. Real nice.
Posted by justplayin on :
The "shell" is going to have assets that ICAN will be transfering. That makes them not a shell anymore. A portion of our investment will be fully reporting in a company that has assets and revenue.
That is good!
Posted by Leardron on :
quote:Originally posted by duediligence1: Wish I knew what the shell OTCCBB was. Would be real nice to buy shares in that shell right now. Real nice.
I doubt the shell is trading right now. You probably couldn't buy any shares. I am sure he has halting trading on it till the spinoff is complete. Nice idea though Posted by duediligence1 on :
Yes, but it hasn't been transferred yet. Just wish I knew a little inside info here before it is too late. Once the transfer is announced it will be too late and the OTCBB will take off. Hey just dreaming a little, lol.
Posted by duediligence1 on :
I am sure your right. But since it hasn't been announced, I thought it may. But it will be haulted once announced if they haven't already until the deal is final.
quote:Originally posted by Leardron:
quote:Originally posted by duediligence1: Wish I knew what the shell OTCCBB was. Would be real nice to buy shares in that shell right now. Real nice.
I doubt the shell is trading right now. You probably couldn't buy any shares. I am sure he has halting trading on it till the spinoff is complete. Nice idea though
Posted by duediligence1 on :
Its like don't you wish you had been stuck in SPEA, forgot about in your portfolio and opened your account one day to notice you were rich, lol.
Posted by justplayin on :
Due, I'm with you on that!!
I am sure that ED is smart enough to not get into a position that would have the SEC looking at him. At least I hope he is smart enough. Posted by stockguy123 on :
If you like this stock, then wait and buy @0003-0004 next week
Posted by tntrader on :
Is that necessary stockguy123?
Posted by duediligence1 on :
It would be nice to have a list of OTC shells that have a fairly low O/S. I think it would be much better to throw your pocket change in them with hopes they are bought out or merged. I think the odds are better then throwing money in these .0001 companies that are not moving and haven't moved in a while. We will make out fairly well here and hopefully better then that but the ones that are in the new shell already will make out the best.
Posted by justplayin on :
quote:Originally posted by tntrader: Is that necessary stockguy123?
tntrader
I gave you 5 stars for that Posted by Ric on :
Well just think about this. The shell company PGHI which was a otcbb after getting the assets on VeeGees and anouncing they were starting a online rental store went from a .0001 shell to a .01 company in a blink. Thats 10,000% and a couple months later over 10 cent 100,000%. So the dividends may be worth a lot more then the shares of ICAN will ever see. So holding is the best bet. Because you never know when the date of record will be for the dividends. Don't want to miss that.
Posted by tntrader on :
Thanks justplayin
I just hope the dividend ends up being a pretty good ratio, 1:1 or better would be awesome Posted by Ric on :
To be honest, I hope not. That would mean the shell has a large O/S to start with which is never any good. I like a new company to have under 200 million just to give it a little wiggle room to dilute if needed and prefer under 100 million. But the ratio means little because the pps should be that much higher for the fewer shares.
Posted by justplayin on :
I agree, the lower the O/S, the better.
Ed is no dummy, we wants the most bang for his buck as well.
Posted by tntrader on :
Ah, great point and I concur.
Posted by justplayin on :
Well, I ended up getting in at .0007 this afternoon. Still higher than I would've liked but at least I got in at a position I'm comfortable with. I'm looking to hold long so this should be exciting to watch.
An interesting question, though. If they do give dividends in the from of spin-off stock, what's the incentive not to sell off the ICAN stock immediatly? And when it does dip (it's seems logical that it will) how long should it take to rebound?
Posted by Doctoall on :
quote:Originally posted by rickpic: There ya go Doc!
Rick
Thanks its great to see you Posted by Leardron on :
quote:Originally posted by dodint: Well, I ended up getting in at .0007 this afternoon. Still higher than I would've liked but at least I got in at a position I'm comfortable with. I'm looking to hold long so this should be exciting to watch.
An interesting question, though. If they do give dividends in the from of spin-off stock, what's the incentive not to sell off the ICAN stock immediatly? And when it does dip (it's seems logical that it will) how long should it take to rebound?
It will rebound when they get close to spinning off the next asset, which will probably be the Pine Bluff Hotel and convention center but they will be down the road a bit. What will keep ICAN from dipping too much is the fact that people will be waiting for the next spinoff. That's the beauty of Ed's plan. He starts all his acquired assets in ICAN to spinoff later which means ICAN will always be worth keeping to get the spinoff shares.
Posted by dodint on :
I'm not saying it's a bad thing, or trying to undermine anything you've said, but won't that perpetually hold down the ICAN stock and the risk now is put on the shoulders of these spin-offs?
That said, I'm still long-term holding. I'll probably even add to my position if it dips before going up again.
I'm relatively new to this, and am just naturally curious and learning. Please, anyone, don't take this as any kind of investment advice. Posted by rickpic on :
Ok people we have another interesting day about to develope in our lil ICAN stock here.
Spoke with Ed Hayter as I usualy do on a day to day basic and he is very happy with the outcome of the Paltalk interview. Many new shareholders have entered the sceen and ICAN is getting some of the recognition it deserves.
For those who started buying here when the thread went up. This is now a 166% gainer and the best is still yet to come.
The OTCBB spinoff move could come fast than many assume.
Both the spin off and ICAN will have sufficiant assets and revenues to make them valuable investments.
Don't be surprised if we see PR of some kind today!
Ed has stated that the OTCBB spinoff will come quick so as to give those investers already owning ICAN shares the maximume benifit out of there continued support of the company. In other words if you don't own shares when it happens you may not be privy to it.
Have a great day.
Cheers Rick
Posted by rickpic on :
Here is a link to the ICAN CEO LIVE interview on Paltalk and if you haven't heard it yet its well worth your time.
Great job Ricpic! I was wondering there was going to be a link to the interview. I highly recommend anyone who has any questions about this stock to listen to the interview first. I was hoping Ed would put out a PR about the interview and posting a link to the transcript or recording.
Posted by rickpic on :
L2 Is moving up for ICAN in the PRE MARKET lineup
.0007x.0008
Cheers Rick
Posted by Forrestgump on :
Any idea about today highest close?
Posted by ya ya on :
Looking to buy some but the O/S are over a billion does anyone think this will Reverse split before it goes up
Posted by Forrestgump on :
Yaya read all the thread you will find out your answer. There is no such thing of reverse split in the mind of CEO. Au contraire he is buyback 500M of shares. At .0008 still a good entry point.
Posted by tntrader on :
The CEO said they will not have a reverse split. I'm sure a large number of CEOs have said that and not kept their word though.
I certainly hope he is being truthfull though. Read the DD in this thread to get a good breakdown of the actual float.
Posted by rickpic on :
L2 Shifting again 2@.0007x 4@.0008 Lets Rock!
Posted by rickpic on :
IBAC Corporation Subsidiary Secures Additional Credit Facilities for The Royal Arkansas Hotel & Suites Business Wire - February 24, 2005 08:58
PINE BLUFF, Ark., Feb 24, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets: ICAN), two leading financial services companies have provided The Royal Arkansas Hotel & Suites, Inc. additional credit facilities creating a combined $1 million dollar credit facility available to the company, to be designated as a standby working capital line of credit and a new term loan.
"We are pleased to enter into a new banking relationship with Simmons First National Bank and our continued relationship with Zions National Bank, our company is very pleased with the additional credit facilities as this will help us foster our growth, we are firm believers in the value of securing debt capital as an adjunct to equity financing, so we are delighted to have received these additional credit facilities, we considered a couple of alternatives when it came to choosing banking partners, but we came to the conclusion that these financial institutions are the right institutions for us," said Gary Becker, President The Royal Arkansas Hotel & Suites.
The company has retained the Reed Architectural Firm to design certain exterior and interior upgrades to the Hotel & Restaurants, a new state of the art ($75,000.00) phone system has also been recently installed and bids are being excepted for 300 new televisions and other upgrades as part of an ongoing project to enhance the property value and provide maximum comfort for our guests.
About The Royal Arkansas Hotel & Suites
Pine Bluff`s only full service hotel. The Royal Arkansas Hotel & Suites features a beautiful 5 Story Atrium Lobby, 200 Over-sized Guest Rooms that feature King or Twin- Queen Beds plus Suites with Microwaves, Mini-Refrigerators, Hair Dryers, Irons, Ironing Boards and Coffeemakers. The Hotel features all day Dining in its Lobby Restaurant and also opening soon an Italian Restaurant & Steakhouse, plus a Lounge open nightly (except Sundays) and an Indoor Pool. The Hotel was built in 1989 by Kemmons Wilson the founder of Holiday Inn. And is part of the Pine Bluff Convention Center Complex.
About IBAC Corporation
IBAC Corporation, a food and beverage services/restaurant/hotel holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group and National Hospitality Management Services and The Royal Arkansas Hotel & Suites IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Copyright (C) 2005 Business Wire. All rights reserved.
Posted by stockguy123 on :
It's a red flag whenever the CEO starts making statements like the PPS should be .03 when the current PPS trades in the .0003-.0008 range, remember the MLON scam ? The SEC just might suspend these guys if they continue to send out meaningless fluff pr's. .03 can't happen unless there is an R/S. This may end up a worthless shell, like GXXL, if and when the hyped up spinoff happens.
Posted by tntrader on :
Hopefully you'll have to eat your hat stockguy123.
Posted by forest on :
IBAC Corporation Subsidiary Secures Additional Credit Facilities for The Royal Arkansas Hotel & Suites
PINE BLUFF, Ark.--(BUSINESS WIRE)--Feb. 24, 2005--IBAC Corporation (Pink Sheets: ICAN), two leading financial services companies have provided The Royal Arkansas Hotel & Suites, Inc. additional credit facilities creating a combined $1 million dollar credit facility available to the company, to be designated as a standby working capital line of credit and a new term loan.
"We are pleased to enter into a new banking relationship with Simmons First National Bank and our continued relationship with Zions National Bank, our company is very pleased with the additional credit facilities as this will help us foster our growth, we are firm believers in the value of securing debt capital as an adjunct to equity financing, so we are delighted to have received these additional credit facilities, we considered a couple of alternatives when it came to choosing banking partners, but we came to the conclusion that these financial institutions are the right institutions for us," said Gary Becker, President The Royal Arkansas Hotel & Suites.
The company has retained the Reed Architectural Firm to design certain exterior and interior upgrades to the Hotel & Restaurants, a new state of the art ($75,000.00) phone system has also been recently installed and bids are being excepted for 300 new televisions and other upgrades as part of an ongoing project to enhance the property value and provide maximum comfort for our guests.
About The Royal Arkansas Hotel & Suites
Pine Bluff`s only full service hotel. The Royal Arkansas Hotel & Suites features a beautiful 5 Story Atrium Lobby, 200 Over-sized Guest Rooms that feature King or Twin- Queen Beds plus Suites with Microwaves, Mini-Refrigerators, Hair Dryers, Irons, Ironing Boards and Coffeemakers. The Hotel features all day Dining in its Lobby Restaurant and also opening soon an Italian Restaurant & Steakhouse, plus a Lounge open nightly (except Sundays) and an Indoor Pool. The Hotel was built in 1989 by Kemmons Wilson the founder of Holiday Inn. And is part of the Pine Bluff Convention Center Complex.
About IBAC Corporation
IBAC Corporation, a food and beverage services/restaurant/hotel holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group and National Hospitality Management Services and The Royal Arkansas Hotel & Suites IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Posted by stockguy123 on :
Now you know the dilution will soon be starting.
Posted by Leardron on :
quote:Originally posted by stockguy123: It's a red flag whenever the CEO starts making statements like the PPS should be .03 when the current PPS trades in the .0003-.0008 range, remember the MLON scam ? The SEC just might suspend these guys if they continue to send out meaningless fluff pr's. .03 can't happen unless there is an R/S. This may end up a worthless shell, like GXXL, if and when the hyped up spinoff happens.
Unless you have some specific information to back up what you are saying, you words are meaningless. I could sit here an say look at QBID which was at .0001 and rose to .028 within 4 months so that is what is going to happen here but that would be as irrational of a statement as yours. GXXL and MLON are nothing like ICAN and if you bother to listen to the recording you would see that these PRs have substance to them because they relate directly to his business plan. Don't just make blanket statements because you are mad that you sold and are hoping the price will drop to get back in.
Posted by Forrestgump on :
I just wish ICAN have CMKX volume for one day at the ask...!
Posted by stockguy123 on :
Just remember, ICAN has never filed a financial report with the SEC. So all the co. comments are just P&D
Posted by forest on :
has qbid ever filed a financial report?...just curious
Posted by tntrader on :
Have any pinks that we've all made money on?
Posted by makemoney3 on :
Stockguy your so full of ****
Posted by tntrader on :
Volume appears to be up early Posted by Doctoall on :
quote:Originally posted by tntrader: Volume appears to be up early
Looks like we are in for a GREAT day !!!!!! Posted by tntrader on :
.0009 Posted by rickpic on :
This is the best stock I have been on in a very long time! Rock-n-Roll
Cheers Rick
Posted by Leardron on :
Hey Ari, I re-listened to the interview and your were right. The Ft. Myers Sanibel restaurant is what is already up $50,000 in revenue for the year, not the Hotel. My mistake:).
Posted by tntrader on :
Buying opportunity.
Posted by Leardron on :
quote:Originally posted by tntrader: Buying opportunity.
It would be if you could get in, I think it is MM manipulation at this point. I have had an order in at .0007 since the market opened and it hasn't filled yet. I think you can only get in at .0008 right now.
Posted by tntrader on :
Interesting. Is that a good sign then?
Posted by Leardron on :
quote:Originally posted by tntrader: Interesting. Is that a good sign then?
Yes, for us all that has shares, but No for me because I want to pick up more at .0007, LOL Posted by dellamorte dellamore on :
Still holding for .0005 . If people keep chasing it , the reeses guys will get an attitude and keep the ask at a certain point .
Posted by Leardron on :
quote:Originally posted by dellamorte dellamore: Still holding for .0005 . If people keep chasing it , the reeses guys will get an attitude and keep the ask at a certain point .
Not to be inconsiderate, but I hope it never gets filled Posted by stockguy123 on :
You will get your 0005 fill by next week, maybe sooner.
Posted by going for gold on :
stockguy,nothing personal,and everybody has to right for a opionin,but why the f*ck are you so negative.
Posted by stockguy123 on :
Not being negative, just giving an opinion based on the trading pattern.
Posted by justplayin on :
quote:Originally posted by stockguy123: You will get your 0005 fill by next week, maybe sooner.
GOOD, I'll take 'em.
There is no telling how high the spinoff shares will go. History shows that the spinoff will gain us value.
Keep spewing your unsupported opinion, we like the laughs
And yes, our opinions can't be supported without filings, but the fact is that this company has a business plan that is working and pr's have all come true. Reality supports our opinions!
Posted by Leardron on :
slow volume but at least it is hanging tough at .0008.
Posted by homer_0 on :
I got in a few days ago at .0008, was hoping it would go up like it did a few days before I got in Posted by Leardron on :
Okay, what are the MMs pulling. I still have my order in at .0007 and it got partially filled about 30 minutes ago but the other half hasn't filled yet and I keep seeing these .0006 orders go through. What is up with that!
Posted by Leardron on :
quote:Originally posted by Leardron: Okay, what are the MMs pulling. I still have my order in at .0007 and it got partially filled about 30 minutes ago but the other half hasn't filled yet and I keep seeing these .0006 orders go through. What is up with that!
Okay, that is weird. I just posted this and within 30 seconds of posting it, my order went through. Are the MMs monitoring this, LOL Posted by Leardron on :
LOL, got to love those MMs. shoved about 20 million shares through at .0008 and then squeeked one in at .0006 before the close.
Posted by bmaxingout on :
hmmm,..... three hundred televisions two hundred rooms whats up with that
Posted by Forrestgump on :
Question?
Wwhat else to we need to raise the pps after so much good news?
- Secure credit facilities - Buyback of 500m shares - CEO discuss, last tuesday, company's direction with shareholder - Spin off to OTCBB company - Formation of a wholly owned entertainment subsidiary named The Royal Entertainment Group, Inc. - The latest sponsor for the show. "Stock Talk LIVE" is a fully interactive business radio talk show focused exclusively on micro-cap stocks - completed acquisition of a majority interest in The Royal Arkansas Hotel & Suites. - ONLY 1.3B O/S - NO DILUTION
Posted by Leardron on :
quote:Originally posted by Forrestgump: Question?
Wwhat else to we need to raise the pps after so much good news?
- Secure credit facilities - Buyback of 500m shares - CEO discuss, last tuesday, company's direction with shareholder - Spin off to OTCBB company - Formation of a wholly owned entertainment subsidiary named The Royal Entertainment Group, Inc. - The latest sponsor for the show. "Stock Talk LIVE" is a fully interactive business radio talk show focused exclusively on micro-cap stocks - completed acquisition of a majority interest in The Royal Arkansas Hotel & Suites. - ONLY 1.3B O/S - NO DILUTION
I really don't think you are going to see a huge rise in the pps until they announce the first spin off. Right now it is simply a trust factor. People just don't believe him because of other scams. Once he annouces the first spin off and the completion of the audit, this thing will fly.
Posted by Forrestgump on :
I just felt something is wrong here and I don't know what. We traded in three day all the float for only 100% rise. QBID went from .0001 to .003 in three day with around 10b O/S. T/A look red today after so much good news. I will buy more for sure because I believe we will hit .01 in coming day.
Posted by Doctoall on :
Come on lets have a "Green Day" Posted by going for gold on :
i agree with you,forest,are we the only ones who see the potential(except for doctall,leardon),or are we idiots buying a empty shell.anyway for me it is option nr 1,see the potential,still holding my 9m
Posted by Stock_Senator on :
I don't understand you guys. This is obviously a long hauler. Stop looking for huge gains or gains at all. The main man said they are looking to move to the BB's in the second quarter. Give it some time. I can't see this thing any cheaper then .005 on the BB's. Probably will see .01 when they announce the big move. Good luck, and stop worrying so much.
Posted by Doctoall on :
Not worried here, in for the Long Haul and IMO this has plenty of potential to make me some bank Posted by tntrader on :
I see the potential...
Posted by homer_0 on :
Yea, I'm holding this one for a loooong time Posted by Leardron on :
quote:Originally posted by Stock_Senator: I don't understand you guys. This is obviously a long hauler. Stop looking for huge gains or gains at all. The main man said they are looking to move to the BB's in the second quarter. Give it some time. I can't see this thing any cheaper then .005 on the BB's. Probably will see .01 when they announce the big move. Good luck, and stop worrying so much.
I agree with you. Stop looking at the volume on this. You have to remember that people are probably day trading this thing out the ying-yang. I guarantee you that alot of the volume you see is the same shares being trade twice in one day or even more. You have to remember that most people who play the pennies are not in them for the long haul and look to turn stock over within the same day for a gain. I happen to be one that believes in this stock and I really don't think you will see it trading much out of the current range until he announces the first spinoff. Once the first audit and spinoff are done and people see he is legit, then you will get the more stable long term investors. Remember, as Stock_Senator said, he wants it done by the end of the second quarter. Well it isn't even the end of the first quarter. Just relax, it will come.
Posted by dodint on :
Like I said before, I'm holding long term (for a micro, anyway) I won't even be thinking sell until the end of the 2nd Q/beginning of 3Q. Depending how things look, I may go a little longer.
Posted by Forrestgump on :
I do agreed with all of you. What I meant is the price is not reflected in the volume ( all float traded in three days compared to other stock but only 100% in pps even if it is the same old stock trade again and again...). Something wrong with that. I have a question. What will raise de pps. Ten traders who buy 10 millions each for a total of 100 millions or 1000 traders who will buy 1 million each for the same total?
Posted by Stock_Senator on :
My guess is that we won't see any huge gains just yet. The biggest problem I see is all of these groups popping up. There is just too many folks trying to make a quick buck. It has actually hurt the market more then it has helpede. With 20 different groups there isn't too much money being made. So we have a lot of broke folks selling off all of their long holds in hopes of getting in on a good pick. But with these picks going the way they are they'll just lose more, and the wheel will keep on spinning. I think when these groups die down a bit, we'll get the real investors back. Then we'll see the huge gains. I just put in another order for a mil. I figure if I have 10 mil by next quarter, when it pops I'll be sitting on $100k. Then I can take a few months off. Probably just stick $25k in Ebay, $25k in Apple, and spend the rest.
Posted by Stock_Senator on :
Wow!!!!!Someone just my account look nice. Just saw an order go through at .0036
Posted by ya ya on :
Don't hold too long that's my problem,when i get real horny about a stock and say i will hold this for a long time i look up and there's Mr.reverse split looking down and saying thank you for your money now its time to move on.
Posted by going for gold on :
senator,i-am reading wright 0.0036 ?
Posted by Stock_Senator on :
Yeah, must have been some weird annomily. Don't pay attention to it. It was premature by about 3 weeks. Guess someone figured they buy it at that price now just in case they aren't around when it gets there. Haaaa!
Posted by going for gold on :
someone bought at 0.0038,wow and then it went back to 0.0007,something strange
Posted by ARI on :
fat fingers
Posted by dellamorte dellamore on :
Ah , i waited a couple of days at .0005 , have to move on now , i don't think it's worth any more than that right now , but i still have some shares i bought awhile back , so i'll jus put my money elsewhere .
Posted by Jonathanlb8 on :
" i don't think it's worth any more than that right now "
That's why you buy, now, you don't buy a stock when it runs, you get in before the craze and sell off before it is over.
Posted by dellamorte dellamore on :
There's only one filing i can find on the SEC site . And their address is listed as :
502 E JOHN STREET ROOM E CARSON CITY NV 89706 ( address listed with the SEC )
Mailing Address: IBAC Corporation 2167 E.21st Street PMB 103 Brooklyn, NY 11229 ( address listed on their website )
Call the number listed on their website , there is no mention of Ibac or Ican :
Press 1 for Turner Hughes Corporation
Press 2 for Vion Corporation
Am i missing something here , hope i am , but now it's def i'm out , unless someone can explain what's up . I would really like to know why there is only one filing listed with the Sec , maybe i'm doing something wrong in my search .
Posted by Leardron on :
quote:Originally posted by dellamorte dellamore: There's only one filing i can find on the SEC site . And their address is listed as :
502 E JOHN STREET ROOM E CARSON CITY NV 89706 ( address listed with the SEC )
Mailing Address: IBAC Corporation 2167 E.21st Street PMB 103 Brooklyn, NY 11229 ( address listed on their website )
Call the number listed on their website , there is no mention of Ibac or Ican :
Press 1 for Turner Hughes Corporation
Press 2 for Vion Corporation
Am i missing something here , hope i am , but now it's def i'm out , unless someone can explain what's up . I would really like to know why there is only one filing listed with the Sec , maybe i'm doing something wrong in my search .
LOL, I called the number too and I think Ed needs to change his message. First of all that is Ed who made the message, I recognize his voice from the interview. Second, if you wait a while another message comes on the line and says if you want to leave a message for Ed Hayter wait for the tone. Why the other options are on there I can only speculate. He may own a small office building and those are the other two tenants beside himself. If you really are concerned, call the investor number back and leave a message for Ed about your concerns and see if he gets back to you. As far as the SEC filings go you have to remember they have only been in business for about 6 months, there wouldn't be many filing yet. Believe me, they must be up to date or the SEC would have halted trading on them. That's what they did with USCI because they didn't file.
Posted by Forrestgump on :
Any prediction for this week?
Posted by Jonathanlb8 on :
Hopefully we hit .001 and stay there. My guess is we'll get some more good news. I'm thinking we'd be doing alot better on the PPS if not for the naked shorting that's probably going on.
Posted by Leardron on :
quote:Originally posted by Forrestgump: Any prediction for this week?
Personally, I think it will stay in the .0006 to .0008 range unless there is a good PR put out like maybe another aquisition (like closing on the other two Sanibel restaurants or another acquisition all together). Or the completion of the Audit. That would be a BIG PR.
Posted by Jonathanlb8 on :
Hopefully we'll get one Leardon. I'm thinking he'll be putting out alot of news in the next few weeks. You know, to keep up the momentum.
Posted by Leardron on :
Good Morning All! Let's hope for a good day.
Posted by tntrader on :
Indeed!
Posted by Jonathanlb8 on :
Lets hope for a good year!!!!!!!!!
Posted by Leardron on :
quote:Originally posted by Jonathanlb8: Lets hope for a good year!!!!!!!!!
LOL, yea that too!
Posted by Leardron on :
Bump... Just keeping it in sight Posted by going for gold on :
another day with low volume it seems,anyway still holding my 9m,now is just waiting,waiting,waiting,.... waiting for the pr
Posted by Leardron on :
Another slow day. At least it is staying in range. Just waiting for a good PR.
Posted by stockguy123 on :
These stocks never hold there PPS for long, this will be back at 0003-0004 soon
Posted by Forrestgump on :
I don,t think stockguy. We already traded more than the flaot without the buyback of 500,000,000 of shares form CEO. .0006 and .0007 is the new base. MACD (12,26,9) the green line just cross over 0. That a good sign.
Posted by Leardron on :
quote:Originally posted by Forrestgump: I don,t think stockguy. We already traded more than the flaot without the buyback of 500,000,000 of shares form CEO. .0006 and .0007 is the new base. MACD (12,26,9) the green line just cross over 0. That a good sign.
Stockguy is just still hoping to get back in and is pissed that he sold. I agree, .0006 and .0007 is the base. It may dip to .0005 and I stress may but I don't think it will stay there for long.
Posted by Mack on :
stockguy why you beaten on this stock did u lose money on this @1 time????
Posted by justplayin on :
quote:Originally posted by Leardron:
quote:Originally posted by Forrestgump: I don,t think stockguy. We already traded more than the flaot without the buyback of 500,000,000 of shares form CEO. .0006 and .0007 is the new base. MACD (12,26,9) the green line just cross over 0. That a good sign.
Stockguy is just still hoping to get back in and is pissed that he sold. I agree, .0006 and .0007 is the base. It may dip to .0005 and I stress may but I don't think it will stay there for long.
Learndon, I couldn't agree with you more. We have found new support and the next run should find support near the .01 mark IMHO.
When a pr comes out regarding the spinoff, this could really run Posted by Forrestgump on :
Since last 5 days of trading 1,498,636,246 shares have been exchange. If we consider the buyback of 500,000,000 of share from CEO than, we almost traded twice the float. Close at .0008 today and the chart point an uptrend. With some good news and volume, we could go up as high as .0036 and then retract between .0025-.003 until other good news and other rally. Just my two cent of speculation based on chart et past volume.
Posted by homer_0 on :
I really hope you guys are right!
Posted by Leardron on :
quote:Originally posted by Forrestgump: Since last 5 days of trading 1,498,636,246 shares have been exchange. If we consider the buyback of 500,000,000 of share from CEO than, we almost traded twice the float. Close at .0008 today and the chart point an uptrend. With some good news and volume, we could go up as high as .0036 and then retract between .0025-.003 until other good news and other rally. Just my two cent of speculation based on chart et past volume.
Sounds good to me Posted by justplayin on :
quote:Originally posted by justplayin:
quote:Originally posted by Leardron:
quote:Originally posted by Forrestgump: I don,t think stockguy. We already traded more than the flaot without the buyback of 500,000,000 of shares form CEO. .0006 and .0007 is the new base. MACD (12,26,9) the green line just cross over 0. That a good sign.
Stockguy is just still hoping to get back in and is pissed that he sold. I agree, .0006 and .0007 is the base. It may dip to .0005 and I stress may but I don't think it will stay there for long.
Learndon, I couldn't agree with you more. We have found new support and the next run should find support near the .01 mark IMHO.
When a pr comes out regarding the spinoff, this could really run
EDIT: I ment .001 (sorry, my bad)
Posted by Leardron on :
Did anyone go to the Sanibel Steakhouse site and view their commercial. Man I am hungry for a steak now Posted by Leardron on :
Another slow day.
Posted by going for gold on :
leardron ,i think the shorters are just playing around,i,like you am waiting to see ican go up
Posted by Leardron on :
quote:Originally posted by going for gold: leardron ,i think the shorters are just playing around,i,like you am waiting to see ican go up
I agree. With the gap between the bid and the ask like it is right now, they are just playing the gap right now for the quick pickup.
Posted by stockguy123 on :
Looks like the dump may start soon.
Posted by Mack on :
whats the matter stockguy u still losing money lol!!!!!!
Posted by stockguy123 on :
I already made money, just waiting for 0001
Posted by Mack on :
well looks like you wont be jumping in this one huh
Posted by justplayin on :
Not any time soon anyway Posted by stockguy123 on :
We'll see, its going the right direction... down
Posted by Leardron on :
looks like the MMs are shaking the tree. I see it is hold well at .0006 however. That is a good sign
Posted by Leardron on :
Well, One good thing. So far it looks like al0t the sales that went through during the big run at .0006 were buys. You can tell because the only way the MMs got it to go through at .0006 was to lower the ask to .0006. Once they raised it back to .0007 it stopped. Also, so far during this, you didn't see one sale go through at the bid which is .0005. In the long run I think this is good because it brings in new blood and probably some long term holders vs the people that got out were probably short termers. We will see.
Posted by Jonathanlb8 on :
This one is holding strong. I'm holding til it hits .01. I really like the thought of $50,000.
Posted by dodint on :
I'm still holding. I wish my funds would clear so I can get in a little more. Posted by Mack on :
hey stockgirl123 usci is @ .0001 i think thats a perfect stock for you lol
Posted by Forrestgump on :
I think since last wednesday run some MM have to cover their short naked position ( 3 days settlement) so they manage to put some pressure at the bid to meet SEC requirement to deliver in time the stock. Now, we need some news and volume will speak by it self in coming day. I here M. Hayter will go on IBC this week? Is that true? If so, look for a good run during and atfer the interview. If He is as good as it was last tuesday and bring some news, we may hit a new high. JMHO
Posted by Mack on :
i hear ya gump im putting money in every chance i get
Posted by going for gold on :
just in case,if the pr does his work well ,i ' ve just mad a sell order at 0.036,with my 9m,would be a nice gain :-)
Posted by Forrestgump on :
The problem with pennyland T/A is hard to interprete the chart and made good prediction. With a pps at .0036, the price will be reasonnable and will constitute a new base but...need good news and more volume.
Posted by Leardron on :
quote:Originally posted by Forrestgump: I think since last wednesday run some MM have to cover their short naked position ( 3 days settlement) so they manage to put some pressure at the bid to meet SEC requirement to deliver in time the stock. Now, we need some news and volume will speak by it self in coming day. I here M. Hayter will go on IBC this week? Is that true? If so, look for a good run during and atfer the interview. If He is as good as it was last tuesday and bring some news, we may hit a new high. JMHO
I would love to know if he is going to be on IBC and when. Has anyone heard anything or know how to find out. Does IBC have a website or anything?
Posted by dellamorte dellamore on :
Uh oh , .0005 .
Posted by stockguy123 on :
Hey pumpers, looks like the 0001 is coming soon!!
Posted by tntrader on :
Hey *******, looks like.
Nevermind.
Not like we didn't see it coming.
Don't look for us to rub it in your face when it hits .001
Posted by Leardron on :
Looks to me like a standoff is going on. Bid is at .0005 but the ask is still at .0007. We need Ed to do that interview or put out a PR soon.
Posted by stockguy123 on :
I said last week that these stocks never stay up. Do you still think I was wrong ?
Posted by dellamorte dellamore on :
No worries , back up to .0006 .
Posted by Leardron on :
quote:Originally posted by dellamorte dellamore: No worries , back up to .0006 .
Big standoff going on. Very low volume the last hour. Bid still at .0005 and Ask at .0007. Hopefully the buyers will give in first Posted by going for gold on :
just another day like yesterday,waiting for the pr
Posted by Leardron on :
Hit .0007 for the first time today. Hopefully that means the long holders are winning the battle. Posted by going for gold on :
leardon,i am a holder,and most important,i like to win :-)
Posted by Mack on :
looks like stockgirl123 will be buying usci@.0001
Posted by Leardron on :
quote:Originally posted by going for gold: leardon,i am a holder,and most important,i like to win :-)
, Love to hear it, I'm right there with you.
Posted by Forrestgump on :
IBAC Corporation Reports February Revenues Wednesday March 2, 12:13 pm ET
NEW YORK--(BUSINESS WIRE)--March 2, 2005--IBAC Corporation (Pink Sheets:ICAN - News) today reported February 2005 revenues of $415,971.98 combined for The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites compared to January combined revenues of $245,872.27.
For the month, The Sanibel Restaurant Group revenues increased $108,364.90, or a 44 percent gain, over the same period last year. The Royal Arkansas Hotel & Suites revenues increased $95,616.00 or a 56 percent gain over the same period last year. (The company did not own them last year)These revenue figures are compiled from internal company accounting/bookkeeping and are subject to an audit by the company's independent accountants/auditors.
"We are very pleased with the operating results of these two subsidiaries and attribute the growth in revenues to the management capabilities of Mr. Karl Wenzel and Mr. Gary Becker respectfully. The significant growth was achieved because of the company's ability to recognize undervalued and mismanaged properties along with its ability to make acquisitions of such properties rather quickly. We will continue to use this formula to grow the company and continue to seek additional synergistic properties through mergers, acquisitions or the creation of new entities to maximize revenues," said Edward W. Hayter President & CEO.
The company's other two subsidiary's National Hospitality Management Services which holds the contract for all food, beverage, catering & concessions at The Pine Bluff Convention Center had only a partial month of income and will be reported within the March revenues, The Royal Entertainment Group had no revenues as it has recently established and will report revenues as the are received on a monthly basis.
The Company also intends to complete the already contracted acquisitions of the Bonita Springs property within 90 days and the Naples property within 120 days.
About IBAC Corporation
IBAC Corporation, a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group / National Hospitality Management Service/ The Royal Entertainment Group and The Royal Arkansas Hotel & Suites IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. Contact:
Source: IBAC Corporation
Posted by justplayin on :
Well this really sucks. The company reports $400k of revenue (40+ %) from a year ago and the pps does nothing
We must be in a holding pattern until the spinoff.
Posted by Forrestgump on :
O/S 7,338,015,590 Revenue $415,971.98 X 12 month = $4,991,663.76 Revenue divide by O/S = .0007 10 time revenue = .0068 pps should be around that
Posted by rickpic on :
2 month revenue of $661.843x6= $3.971.105 est yr!
doing the math my way comes out a bit lower but still very high for a pinks company with the current PPS of .0007
should be mid .005 range minimum!
Cheers Rick
Posted by stockguy123 on :
bid/ask not moving ? Looks like 0001 might still happen
Posted by Leardron on :
I am not totally surprised that the pps didn't move much on this news. For the most part this news was already know from his talk early last week. He had already stated that Sanibel was above what they were making the year before. The only other news that we didn't know was that the Hotel is doing well too. Don't get me wrong, this is good news but this won't move big until there is news about the audit being done.
Now, on my own personal theory, this could also be a kind of "nudge, nudge, wink, wink" to the stock holders that the audit is just about done because otherwise how would they be able to report on those number so quickly. Just an opinion Posted by Forrestgump on :
Between .005 - .007. I think most of people invest in short term. Too bad because this one have a great long term potential.
Posted by Leardron on :
quote:Originally posted by rickpic: 2 month revenue of $661.843x6= $3.971.105 est yr!
doing the math my way comes out a bit lower but still very high for a pinks company with the current PPS of .0007
should be mid .005 range minimum!
Cheers Rick
Hey Rick, Have you talked to Ed lately. Just wanted to know if you hear anything new.
Posted by Forrestgump on :
The downtrend is against all logic and good news released. Probably no dumping but a major correction (oversold) and panic sale at the end of the day. I don't have any proof but I am sure the float remain de same. At this level still a good opportunity to accumulate and buy more shares. T/A speaking MACD is in uptrend following the 0 line after being below, normally that doesn't lie. As I stated earlier .005-007 pps it is not impossible in very short term. Two ingredients volume and more volume. Today a Long Black Candlestick was formed. This shows that the prices declined significantly from open to close during the day under strong selling pressure. JMHO.
I'm confused by the chart you posted...my last price was .0005, yet the chart shows .0001...pinksheets shows .0005 also...
Am I missing something?
Posted by TraderTom on :
The pullback today looks just like a bear-flag.
Also, the money flow looks just great - it's been pointing up for over a month, although the price didn't hasn't moved too much yet.
Posted by Forrestgump on :
You need to focus on the long term trend not daily move. Revenues compared to pps = undervalued. PPS should between .005 - .007 right now. That why I am calling for a quick ajustment from the market if the market was playing fairly with ICAN...
Posted by Leardron on :
Bid moved up to .0005 and some good volume at .0006. Hopefully that means we hit bottom yesterday. Keeping my fingers crossed.
Posted by Leardron on :
Back up to Bid .0005 and ask at .0007
Posted by going for gold on :
just putting this thread back on top,people should see that ican deserves a lot more attention then it had the last past days
Posted by Leardron on :
bump
Posted by Leardron on :
quote:Originally posted by going for gold: just putting this thread back on top,people should see that ican deserves a lot more attention then it had the last past days
LOL, looks like we had the same idea at the same time.
Posted by Forrestgump on :
REMINDER: CEO OF ICAN on Paltalk tonight to answer questions and talk of news of ICAN. 8 PM tonight. (eastern time)
Mailing Address: IBAC Corporation 2167 E.21st Street PMB 103 Brooklyn, NY 11229 ( address listed on their website )
Call the number listed on their website , there is no mention of Ibac or Ican :
Press 1 for Turner Hughes Corporation
Press 2 for Vion Corporation
Am i missing something here , hope i am , but now it's def i'm out , unless someone can explain what's up . I would really like to know why there is only one filing listed with the Sec , maybe i'm doing something wrong in my search .
I finally figured it out. Call me stupid but in answer to your question, Turner Hughes Corporation is basically IBAC Corp. If you read the IBAC website you will see that Ed is the founder of Turner Huges Corporation which is a private investment company. There is a relation between Turner Huges (basically IBAC) and PRRM but only in the sense that Turner Huges borrowed money from one PRRMs affiliates (Tampa Bay Mortgage Inc.) to buy both the Sanibel Restaurants and the Arkansas Hotel.
Wow, talk about 1 happy family. We'll you saw what happen to the PRRM pps, I think ICAN is headed in the same direction.
Posted by Leardron on :
quote:Originally posted by stockguy123: Wow, talk about 1 happy family. We'll you saw what happen to the PRRM pps, I think ICAN is headed in the same direction.
Stockguy, they are only connected to them in the sense that they borrowed the money from them. PRRM has no stake in IBAC other than getting the loan.
Posted by justplayin on :
Wow, mortgage companies borrow money?
What a concept!!!! Is IBAC paying the monthly payments?
Posted by Leardron on :
quote:Originally posted by justplayin: Wow, mortgage companies borrow money?
What a concept!!!! Is IBAC paying the monthly payments?
Well, considering that both the Hotel and the Sanibel restaurant are making a profit and the mortgage expense is included in determining the profit, I am sure they are making the payments just fine Heck, they only borrowed 2 million dollars for both the restaurant and the Hotel and both already have made a 1/4 of that in revenue in just 2 months.
Posted by justplayin on :
quote:Originally posted by Leardron:
quote:Originally posted by justplayin: Wow, mortgage companies borrow money?
What a concept!!!! Is IBAC paying the monthly payments?
Well, considering that both the Hotel and the Sanibel restaurant are making a profit and the mortgage expense is included in determining the profit, I am sure they are making the payments just fine Heck, they only borrowed 2 million dollars for both the restaurant and the Hotel and both already have made a 1/4 of that in revenue in just 2 months.
And that is why the so called "relationship to PRRM" has NO bearing on this stock at all.
Twist it any way you want, the .0001-.0002 won't happen any time soon. JMHO
The spinoff is where the bank is!! Hold 'em tight, we are gonna cash in. Posted by Leardron on :
Posted by Leardron on :
quote:Originally posted by Forrestgump: REMINDER: CEO OF ICAN on Paltalk tonight to answer questions and talk of news of ICAN. 8 PM tonight. (eastern time)
That's great news! I will be listening again. I wish he would talk on IBC.
Posted by Doctoall on :
I just picked up some more, at these prices its a blue light special. Posted by Leardron on :
Hey forest, just curious how you found out about Ed talking tonight on Paltalk. Is it advertised on their board or something?
Posted by Forrestgump on :
On RB. hope that is true!
Posted by Leardron on :
quote:Originally posted by Forrestgump: On RB. hope that is true!
Well I went into the room listed and there is already a bunch if ICAN people in there talking about the stock. They said he will be talking at 8pm. They couldn't answer why there wasn't a PR sent out unless they wanted to keep the Password secret.
Posted by Jonathanlb8 on :
quote:Originally posted by Leardron:
quote:Originally posted by dellamorte dellamore: There's only one filing i can find on the SEC site . And their address is listed as :
502 E JOHN STREET ROOM E CARSON CITY NV 89706 ( address listed with the SEC )
Mailing Address: IBAC Corporation 2167 E.21st Street PMB 103 Brooklyn, NY 11229 ( address listed on their website )
Call the number listed on their website , there is no mention of Ibac or Ican :
Press 1 for Turner Hughes Corporation
Press 2 for Vion Corporation
Am i missing something here , hope i am , but now it's def i'm out , unless someone can explain what's up . I would really like to know why there is only one filing listed with the Sec , maybe i'm doing something wrong in my search .
I finally figured it out. Call me stupid but in answer to your question, Turner Hughes Corporation is basically IBAC Corp. If you read the IBAC website you will see that Ed is the founder of Turner Huges Corporation which is a private investment company. There is a relation between Turner Huges (basically IBAC) and PRRM but only in the sense that Turner Huges borrowed money from one PRRMs affiliates (Tampa Bay Mortgage Inc.) to buy both the Sanibel Restaurants and the Arkansas Hotel.
If you guys are worried about the NV address, look into trying to get listed. You'll find that alot of CO's when getting listed find it more favorable to do so in States such as NV,AZ, etc. Don't go shooting to conclusions until you understand the process behind which these companies have to go through to get listed. Alot of times you see companies listed with an address in these states but operate outside of them.
If you don't believe me call a Transfer agent and inquire as to what I've just said.
Posted by Leardron on :
Hey, I believe you. I was just trying to answer his question on the message he got when he called the investor number listed on IBAC website.
Posted by Jonathanlb8 on :
Just thought I'd let some of the new folks know. I figured you known. But had to quote it so that folks knew what I was talking about.
Posted by Leardron on :
quote:Originally posted by Jonathanlb8: Just thought I'd let some of the new folks know. I figured you known. But had to quote it so that folks knew what I was talking about.
No problem , Looks like we got a little bump at the end of the day from the talk of the interview tonight with Ed. See if we get a bounce tomorrow like we did the last time he talked.
Posted by Leardron on :
Another good interview. Rehashed alot of the same questions and he answered them pretty much the same. Just look back to the last interview and those are pretty much the same main things that were answered.
A couple of the big things that came out was that he said he is currently at 250Million of his shares and plans on doing the whole 500 Million. He was told by his accountants, however, that it is getting harder to buy shares which is a good thing.
The other big thing, which I really liked, is that he said he is currently working on a joint venture agreement to get Sanibel into all the major markets around the US like NY, LA, etc. He is really big on expanding Sanibel to a large chain restaurant. Can you say next outback steakhouse Posted by Leardron on :
Forgot another big thing he said was that the amount of shares in the OTCBB stock is going to be paid based on the amount of your investment not on the number of shares you have. It sounded like you would get an amount of shares in the OTCBB stock equal to your investment (Anyone, please correct me if this is wrong). The OTCBB stock is also currently trading at 2.00 per share. He didn't give out the symbol.
Posted by Jonathanlb8 on :
Leardon, Thanks for all of the informative updates. It's nice to know your dedicated to this one. Helps others out when someone can fill us in all of the time. Keep up the good work.
Posted by dellamorte dellamore on :
Lear , that explanation is good enough for me , thank you .
Posted by Leardron on :
quote:Originally posted by Jonathanlb8: Leardon, Thanks for all of the informative updates. It's nice to know your dedicated to this one. Helps others out when someone can fill us in all of the time. Keep up the good work.
Thanks. The more I listen to Ed the more I really like this stock. There is no way this stock is going to stay where it is at once the word gets out more. One thing I noticed about this interview vs the other one was that everyone in the room was interested in ICAN and there were alot of pumped up stock holders in there after he was done speaking. Ed was also alot more personable this time around and really made you feel like you are part of something big.
I did forget another thing he said. He will be interviewed on IBC radio in about two weeks. Also, he said that he can only sell 1% of the 500 million shares he is acquiring once every 90 days. So basically 5 Million shares every 90 days. Hope I remembered everything. If I think of something else, I will let you guys know. Sorry that it seems like I keep rambling but as every investor said at the interview, they have never seen a CEO of a penny stock be so forth coming and wanting to get out with the investors. Ed really believes in the company.
LOL, I forgot one more thing. Not sure if he was joking but he said if you go into a Sanibel restaurant and say your a share holder, you will get a free bottle of wine with your meal. Posted by Forrestgump on :
Yeah! That was a good exchange between SH and Mr Hayter.
Posted by Forrestgump on :
I AM NOT SURE BUT I FOUND THAT ASSUMPTION INTERESTING.
By: stervc 04 Mar 2005, 04:13 AM EST Msg. 9986 of 9987 Jump to msg. # Important ICAN OTCBB Dividend Thoughts...
Mr. Hayter conducted another CEO Interview in Paltalk last night that was great! Many great things were discussed.
The biggest thing to me is the free trading shares to be given to us as an OTCBB dividend. I was late entering the room, but I was told that it was stated that it would open up at $2.00 per share. Let me try to explain the power behind this because I really think that many are getting this mixed up in thinking that it's a reverse merger.
It's not a reverse merger. It will be a spin-off. Mr. Hayter stated that valuation will be placed into the OTCBB stock to fundamentally support a $2.00 per share price. I am guessing that we ICAN shareholders would make up the bulk of the Float for that OTCBB stock through the dissemination of the dividend. This means that we will be the liquidity that the market will be hoping we sell our dividend to get our shares in the heavily valuated newly OTCBB stock.
I am guessing that to have such a share price, the outstanding shares (OS) will probably be about 73,000,000 shares at the most. I am not sure, but I will use that figure to keep the math simple for converting a ratio that could logically exist since the OS is about 7,300,000,000 as I will us the rounded figure for the ICAN OS. Consider the rationale below as I think this is something very powerful that eventually the market will have no doubts and no choice, but to absorb this. Observe...
Key Variables for determination: ICAN OS = 7,300,000,000 OTCBB Dividend OS = 73,000,000
7,300,000,000 ÷ 73,000,000 = 100
This creates a distribution ratio of 100 to 1 meaning that if you bought 100 shares of ICAN, you would then get 1 share of the OTCBB dividend.
ICAN Price = .0007 cents OTCBB Dividend = $2.00
This means that if you bought 100 shares of ICAN at .0007 cents, you would get 1 free trading share of the OTCBB dividend at $2.00 per share.
This means that you pay for your ICAN shares: .0007 x 100 = .07 cents
Then as a premium, Mr. Hayter will give you in a free trading OTCBB dividend: $2.00 x 1 = $2.00
Let’s break this down more logical for a better understanding. This would be like you giving Mr. Hayter .07 cents for investing in ICAN and then Mr. Hayter giving you back your .07 cents plus Mr. Hayter giving you back a premium of $2.00 for you investing the .07 cents you originally invested into ICAN. Those who don’t see it now, they will later at much higher prices in my opinion.
Look at it like this if you were to purchase 10 Million shares of ICAN at .0007 cents.
From the ICAN shares purchased: 10,000,000 x .0007 = $7,000
From the $2.00 OTCBB dividend shares: 10,000,000 ÷ 100 = 100,000 shares
100,000 x $2.00 = $200,000
Ok, now please correct me if I am seeing this wrong. This means that you pay $7,000 for your 10 Million shares of ICAN and Mr. Hayter gives you back your $7,000 in ICAN shares plus as a premium $200,000 in free trading shares of an OTCBB dividend. This is you paying $7,000 to get back $207,000 in return. I’m sorry, but this is outstanding and I think that it’s just a matter of time before people see why I stated that our equilibrium price is around .0047 cents from the post below. http://www.ragingbull.lycos.com/mboard/boards.cgi?board=CLB00412&read=538643 Actually, our equilibrium price is much higher as you will see for yourself that my earlier .0047 cents number was very conservative. Let’s use the .0047 cents value to see where this format would lead us for purchasing 10 Million shares at such price to start with.
From the ICAN shares purchased: 10,000,000 x .0047 = $47,000
From the $2.00 OTCBB dividend shares: 10,000,000 ÷ 100 = 100,000 shares
100,000 x $2.00 = $200,000
This means that you pay $47,000 for your 10 Million shares of ICAN and Mr. Hayter gives you back your $47,000 in ICAN shares plus as a premium $200,000 in free trading shares of an OTCBB dividend. This is you paying $47,000 to get back $247,000 in return.
As you can see from the above patterns, the point of equilibrium is actually .02 cents. Whyy??? Because .02 cents is where you would spend an equivalent amount to the amount of the $200,000 OTCBB dividend being distributed for the 10 Million shares of ICAN being bought. Observe for a better understanding:
From the ICAN shares purchased: 10,000,000 x .02 = $200,000
From the $2.00 OTCBB dividend shares: 10,000,000 ÷ 100 = 100,000 shares
100,000 x $2.00 = $200,000
Even after spending $200,000 for buying 10 Million shares of ICAN at this .02 cents point of equilibrium, will give you back in return a premium from Mr. Hayter of 100% return on your money. Even buying 10 Million shares of ICAN at .04 cents will give you back in return a premium from Mr. Hayter 50% return on your money.
I think the examples above are the premiums that Mr. Hayter and many ICAN shareholders are so excited about. This is how I think Mr. Hayter has been trying to get us to see how he is going to reward us all with premiums for being ICAN shareholders just for starters.
This is not a reverse merger as Mr. Hayter stated in the CEO Interviews. It is a spin-off. This means that after you buy ICAN and the dividend has been disseminated, you will have 2 sets of stocks in your account, ICAN plus the OTCBB dividend stock. This dividend will be free trading shares.
If this was a reverse merger you would only have 1 set of stock from one going into the other. When Mr. Hayter mentioned about ICAN going into a stock he was not talking about ICAN as a trading entity, but moving some of ICAN current profitable assets to help the OTCBB dividend to be worth $2.00 per share to support its price to support the market for maintaining a fundamental share price.
He also stated that there are other profitable companies that he is in the process of acquiring that he would be leaving in ICAN to keep valuation in ICAN too. He stated that he would not leave ICAN as a shell with no valuation as some had feared, but instead would continue to grow ICAN by adding value.
Now keep in mind that there are risks involved in everything within the market, but Mr. Hayter has come through and completed everything that he has stated he would do to thus far let his actions speak louder than words for earning shareholder confidence and respect. He has proven to be a man of his word so I am leaning more towards him achieving the above goals too.
Mr. Hayter is diligently working on making this dividend happen ASAP (as soon as possible), but he stated that he expects this to happen in less than 30 days from now at worst. His ultimate goal for acceleration is to announce the “pay date” for the receipt of this OTCBB free trading shares dividend to take pace in 2 weeks or less so I anticipate this to happen fast.
The figures I used above are still unofficial until the company makes such details known officially in a PR. One should consider using the formats above for understanding the potential for being an ICAN shareholder when the official news is released. The above are only my opinions as to how I see the potential residing in ICAN to help many of us to become prosperous.
Sounds like the GXXL scam all over again
Posted by Leardron on :
that's an interesting concept but that isn't what I took from it. From what it sounded like to me is that at the time of the date of record you will be given shares of the new OTCBB stock equal to the current value of your investment.
Example.
On the date of record let's say you owned 1 million shaes of ICAN and ICAN was trading at .002. That means that the value of your ICAN investment is $2000. You would then get $2000 worth of the new OTCBB stock at a premium price per shares (I guess to be determined later) but the shell is currently trading at $2.00. So if he gave you shares at $2.00 per share you would essentially have in this example 1000 shares of the new OTCBB stock plus you would still have the value of the ICAN stock which will still contain assets and have value (because I still believe he isn't going to spinoff all the assests, I think he will just spinoff Sanibel first). This is what I got out of it but I could be totally wrong. Sterling knows more about the nutz and bolts of stock trading than I do. What did you take from what he said Forrest?
Posted by Leardron on :
quote:Originally posted by stockguy123: Sounds like the GXXL scam all over again
Stockguy, what you know about this stock could fit on a pinhead. You also have about as much credability as Bill Clinton in a soriety house saying he was just there to help the girls study.
Good luck with PRRM, you sure seem to be pumping that one on that thread. But of course, that's because your in that one.
Posted by stockguy123 on :
Ever hear the saying "if it sounds to good to be true it probably is not" . I think the SEC might be putting a stop soon on these guys for their endless PR and radio talk pumps.
Posted by Mack on :
stock"girl"123 im glad to see your still a loser keep of the good work!!!!!
Posted by Forrestgump on :
Leardron,
I not sure about what you saying cause it won't be fair if you buy 1M shares at .0002 for $200 you will receive 100 shares at $2 and if an other person buy 1M shares at .002 for $2000 this person will receive 1000 shares at $2. Where is the premiun, why should I buy more ICAN? I think Sterling got a good point.
Posted by Leardron on :
quote:Originally posted by stockguy123: Ever hear the saying "if it sounds to good to be true it probably is not" . I think the SEC might be putting a stop soon on these guys for their endless PR and radio talk pumps.
Stockguy, this is the last I am going to say anything because responding to you is like putting fuel on the fire. You are the perfect example of an egomaniacle stock holder who just has to know that he bought into a stock at the lowest point and got out at the highest point. It would just kill you to no end if this thing jumps to .0015 when you got out at .0007 I think it was because you can't handle being wrong. Most traders take their profits and move on to the next stock and never look back to see if they could have made more but you seem to not be able to let go and are determined to be right on your prior investments. If you are going to be a good investor, please take your profits and move on. We don't want to hear your uninformed posts anymore. If you have something of substance to post that has actual Due Diligence to it, by all means post it. Otherwise, take your profits and run.
Posted by Forrestgump on :
well said.
Posted by stockguy123 on :
Don't woory, you should be able to buy more @0001-0002.
Posted by Leardron on :
quote:Originally posted by Forrestgump: Leardron,
I not sure about what you saying cause it won't be fair if you buy 1M shares at .0002 for $200 you will receive 100 shares at $2 and if an other person buy 1M shares at .002 for $2000 this person will receive 1000 shares at $2. Where is the premiun, why should I buy more ICAN? I think Sterling got a good point.
No, that isn't what I am saying. Your premium would be based on what the value of your current holdings in ICAN are, not what you bought in at. in your example the person that bought 1M at .0002 would get the same number of shares as the person that bought in at .002 if the pps at the time of the date of record is at .002. Basically this helps the people who hold and stay in long because the person that spent $200 earlier to get his 1 million shares would now get $2000 dollars worth of the new OTCBB stock. I am going off what he said when he said he is not going to do a ratio stock dividend (meaning 1 share for 10, or 1 share for 100) he said he is going to base it off the value of the shareholders investment.
I think this is smart because usually when they annouce a dividend like this they usually say up front that you will get 1 for 10 or 1 for 100. On this he will say something like at the date of record each share holder will get 1 share of the new OTCBB of stock for every $1 the shareholder's holdings are worth based on the pps at the date of record. This way it encourages people to get in because no one knows how high the pps will go before the date of record. The other thing it does is maintain the price of the new OTCBB. See in Sterlings scenerio, what's keeping everyone from selling their shares of the new OTCBB right away flooding the market with shares. If you do it the way I am saying and give out the shares at a $1 value then it maintains the pps of the new stock to around a dollar and will incent people to hold on to it.
Again, this is just my opinion.
Posted by Mack on :
stockguy123 Member
Rate Member posted March 03, 2005 13:51 -------------------------------------------------------------------------------- Sounds like this RIC guy is a paid basher, probably lost money on PRRM
now it all makes sence!!!! lol
Posted by Forrestgump on :
Leardron,
Make more sence now to me. Yes I do agree with you but don't know if Mr Hayter gonna do it that way...
Posted by Leardron on :
quote:Originally posted by Forrestgump: Leardron,
Make more sence now to me. Yes I do agree with you but don't know if Mr Hayter gonna do it that way...
Yep, I agree with you there. I am just making a broad assumption based on the answer he gave to the question about how the premium will paid out . I am not sure if he can even give it out the way I mentioned, I am not sure if by SEC rules the share holders might have to know what the premium is up front. I guess we will see.
Posted by makemoney3 on :
When are we supposed to get these spinoff shares?
Posted by Leardron on :
quote:Originally posted by makemoney3: When are we supposed to get these spinoff shares?
Now I didn't personally hear him say in 30 days but that is what some are saying. I remember him saying as soon as possible. He wants to get this done. He still has the end of the second quarter deadline he put in a PR. Not saying he didn't say 30 days because I missed some of the talk but I didn't hear it.
Posted by Doctoall on :
So do we get some Green today ? Posted by tntrader on :
not so far.
Posted by justplayin on :
quote:Originally posted by Doctoall: So do we get some Green today ?
Doc, I think we are in a holding pattern until the CEO decides what and when the spinoff will occure. News of revenue is GREAT, but everybody is waiting for the spinoff. JMHO
Until we have something of news on the spinoff, I think we will only see slight movement both up and down. But, no real movement.
GLTA
Posted by homer_0 on :
bump!
Posted by tntrader on :
zZzZzZ
Posted by bmaxingout on :
imho,... all of us that beleive ican is something speical should buy as much of the float as possible. we need to buy large and hold, if the pps is going to go up we will need to shut out the daytraders.large amounts of shares are being traded and yet the price stalls or goes down. buy and hold and the and the pps will be worth the actul market value that we beleive it should be I personaly will be buying 500,000 to one million per day until i run out of trading capital.This company is worth alot more than where it is currently being traded again jmho
Posted by Forrestgump on :
I'm in with your plan. Actually all the float has been traded around twice... New base .0005-.0006. Last thursday on Paltalk a quick survey show member own all the float. According to Mr Hayter volume was drying up...that mean it is more difficult to buy shares but the price went down. So...my conclusion MM manipulation, Naked shorted, day trader playground. Take one it's all your. Any comment.
Posted by rickpic on :
IBAC Corporation to Accelerate Growth for it's Sanibel Steakhouse Brand by Seeking Joint Venture Partners and Licensing Agreements 3/7/2005 7:59:01 AM FT. MYERS, Fla, Mar 07, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets: ICAN) today announced its strategy to accelerate growth by seeking joint venture partners and licensing agreements for its Sanibel Steakhouse Brand throughout major cities across the country.
The Sanibel Restaurant Group management has determined to accelerate growth they will embark on an aggressive plan to seek qualified candidates to license or joint venture new or to convert existing properties for our brand in major cities, the company will work in three phases with its first efforts being the eastern third of the country with emphasis on major cities within the states of New York, Pennsylvania, New Jersey, Connecticut, Ohio, Georgia and other cities within Florida the second phase will concentrate on the middle third of the country and the final phase being the western third of the country. The company is seeking a minimum of ten properties per phase initially.
"We look forward to this added strategy for growth as another avenue to achieve our goals of increased revenue and locations, we will use this formula to grow the company aggressively and continue to seek additional synergistic properties through mergers or acquisitions to maximize revenues," said Karl Wenzel President, The Sanibel Restaurant Group.
About IBAC Corporation
IBAC Corporation, a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group / National Hospitality Management Service/ The Royal Entertainment Group and The Royal Arkansas Hotel & Suites IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: IBAC Corporation
Copyright Business Wire 2005
Posted by Forrestgump on :
Could be the news we were waiting for... to have a nice run til .005 - .007.
Posted by dellamorte dellamore on :
It's always nice to get some news , but this PR isn't anything earth shattering or even exciting . All i get out of it is a we are looking into it , and are planning to feel from it . I doubt this PR will make it run like crazy , maybe a little , very little , but that's about it , hope i'm wrong , i jus don't see it .
Posted by rickpic on :
Its another warning shot! The PR also shows long range plan! If your not a day trader its great news! Add it to the rest and you come up with a company that works for its shareholders!
Cheers Rick
Posted by Forrestgump on :
I agree Rick!
Posted by stockguy123 on :
That was fluff news, should see 0003 sales this week
Posted by Leardron on :
quote:Originally posted by dellamorte dellamore: It's always nice to get some news , but this PR isn't anything earth shattering or even exciting . All i get out of it is a we are looking into it , and are planning to feel from it . I doubt this PR will make it run like crazy , maybe a little , very little , but that's about it , hope i'm wrong , i jus don't see it .
I agree with you and also Ricpic. It won't have a huge impact in the short run but for us long holders this is awesome news. He had talked about it in the paltalk meeting last week but it is nice to actually see him spell out the plan in a PR. That is another step to help reassure me that he wasn't just blowing smoke. I totally love the thought of being on the ground floor of possibly the next big steak house. I especially like the fact that one of the states he is looking into is PA. I would love to try out the Sanibel Steakhouse Posted by Jonathanlb8 on :
quote:Originally posted by stockguy123: That was fluff news, should see 0003 sales this week
Idiot
Posted by Forrestgump on :
Rumor: Mr Hayter buyback 500M shares of ICAN ti be able to return back in tresory 6,030,743,925 Restricted shares In Managements Control.
That it is a good news if is is confirmed...
Posted by Leardron on :
quote:Originally posted by Forrestgump: Rumor: Mr Hayter buyback 500M shares of ICAN ti be able to return back in tresory 6,030,743,925 Restricted shares In Managements Control.
That it is a good news if is is confirmed...
Not following. You mean he wants to then convert the 500 Million shares he obtained to restricted shares?
Posted by Jonathanlb8 on :
quote:Originally posted by Forrestgump: Rumor: Mr Hayter buyback 500M shares of ICAN ti be able to return back in tresory 6,030,743,925 Restricted shares In Managements Control.
That it is a good news if is is confirmed...
Huh?
Posted by Forrestgump on :
I agree Huh!
Posted by stockguy123 on :
Sounds like forrest had 1 too many beers. should see a dump starting soon on this one.
Posted by Forrestgump on :
Probably stock because I misunderstood the rumor. Mr Hayter should spin off the float 1.3b shares, not the OS
Posted by dellamorte dellamore on :
Man , stock is really trying to tear this one down , doesn't seem like it's working .
Posted by Leardron on :
quote:Originally posted by dellamorte dellamore: Man , stock is really trying to tear this one down , doesn't seem like it's working .
You mean the MMs?
Posted by tntrader on :
No, he means stockguy123
Posted by Leardron on :
quote:Originally posted by tntrader: No, he means stockguy123
Oh, sorry. seems like the MMs are too but it isn't working. I see these stupid little 100K shares go through at .0005 trying to know it down. You know that's got to be MM manipulation, that's like $50
Posted by stockguy123 on :
Don't worry, the MM's will take it back down to 0001-0002.
Posted by bmaxingout on :
i hope that someone is able to knock this one down alittle that way i would be able to triple my shares for cheap money see i am in this one for the long hual and the more shares that i can aquire that these prices the happier i am as far as the 100k in shares im not quite so sure that it is MM i know that if i were to make fifty bucks in other companies that i have shares in i put all of my profits from others into this one my goal is 100 million shares before the spin off i still have a ways to go so go ahead and bring this price down for me lol
Posted by tntrader on :
You would be out of your mind to put $50K in any penny.
Posted by bmaxingout on :
not if its free money my rules say never risk capital only profits so far this year i have done very well and never risked my capital this one is going to pay off big
Posted by bmaxingout on :
and be sides if stockguy123 is right ill be in for cheap money
Posted by Leardron on :
looks like another day at the office. What might move it before the audit is if he announces what the actual profit was on those properties in February. That might move it a little.
Posted by Leardron on :
Looks like another day a little over 100 Mil.
Posted by stockguy123 on :
Don't worry, dump is coming this week.
Posted by dodint on :
Isn't that what you said last week? And the week before that? And the week before that?
Still here, holding long and strong.
Posted by Doctoall on :
quote:Originally posted by dodint: Isn't that what you said last week? And the week before that? And the week before that?
Still here, holding long and strong.
Yes he keeps repeating himself like a broken record, but never gives any DD just useless opinions Posted by rickpic on :
any time you guys think its time to drop the DD in here again just say the word!
Cheers Rick
Posted by justplayin on :
"the word"
Posted by stockguy123 on :
Nothing has changed, its going to go down not up in the next couple of weeks. Just watch and learn
Posted by Jonathanlb8 on :
Get a life stockguy. Why don't you show us something to back you theories. Also, just so you know I did forward that complaint to the Co. Don't know what will happen, but I hope you're taken care of.
Posted by Mack on :
stockgirl123 you are a complete moron, i told you before the stock for u is USCI. Its at .0001 and its the perfect stock for u it stays at .0001 lmao!!!!!!!
Posted by stockguy123 on :
back you theories - you might consider a grammar class. I am giving an opinion, I can't help it if you are losing money. However, I don't think the company is interested in you making pointless claims
Posted by Mack on :
but see your opinion has no meaning your the sorry sucker that sold this its your loss loser!!!
Posted by stockguy123 on :
Also, the co was at 0001 not long ago so what I'm saying is certainly a possibility. Even if the pumpers don't like it.
Posted by Mack on :
lol go pump prrm like u been doin
Posted by stockguy123 on :
Mack, you're right, PRRM does have better potential.
Posted by Ric on :
Hey Doc,
You know I would never bash a stock, unless it was CMKX, lol. But there are some serious problems here from what I see. I think this will make a great short term play but I would run fast after divies and hype runs shortly afterwards. There seem to be some questionable people pumping this stock and also the valuation of assest where well overstated. Just trying to be helpful here. There are some in here that have pumped a dead stock during a run and keep giving hope afterswards causing people to lose a lot of money.
Saying that, i think this will run very well real soon but reading the PR's, I really don't see anything to substain the pps after the run. Good luck.
Ric
quote:Originally posted by Doctoall:
quote:Originally posted by dodint: Isn't that what you said last week? And the week before that? And the week before that?
Still here, holding long and strong.
Yes he keeps repeating himself like a broken record, but never gives any DD just useless opinions
Posted by Leardron on :
Ric, you and I talked about this before and the assets he overstated in your opinion was one, and that was the Arkansas Suite and Convention center. Aside from your opinion on that what else do you believe he has overstated or lied about?
The main reason I am in this and probably most other investors is not because of the Arkansas Suite and Convention center anyway. It is the Sanibel Steakhouse that is going to be huge. It is a very marketable name, has a proven track record of profit and Ed has a very good game plan of expanding it. Plus Good quality restaurants are very profitable and in high demand. All you have to do is look at an Applebee's, an Outback Steakhouse, or an Olive Garden on a Friday and Saturday night to see what kind of business these places do. One thing American's do alot of is eat out.
I agree with you in one thing. Once Sanibel is rolled off to it's own asset, ICAN will dump a fair bit if Ed has no other assets added to ICAN but getting the dividend shares in Sanibel will be well worth it. That is the real score in all of this.
Posted by Jonathanlb8 on :
quote:Originally posted by stockguy123: Mack, you're right, PRRM does have better potential.
Yeah. PPRM is doing great. .0001
Posted by Ric on :
Well, as I said that is will make you money. Not trying to talk nyone out of investing here. I think there is a lot of hype and over valuation that will run this over its true value after the dividends. All I was trying to say is take profits and if you still like it buy back at retracement. There is a huge push right now so I do see profit here. Just giving a friend advice to take the profits after the big run, thats all.
Ric
Posted by Jonathanlb8 on :
Totally understandable Ric.
Posted by Leardron on :
quote:Originally posted by Ric: Well, as I said that is will make you money. Not trying to talk nyone out of investing here. I think there is a lot of hype and over valuation that will run this over its true value after the dividends. All I was trying to say is take profits and if you still like it buy back at retracement. There is a huge push right now so I do see profit here. Just giving a friend advice to take the profits after the big run, thats all.
Ric
Posted by Leardron on :
I agree with you that ICAN itself will probably run overvalued once the dividend is paid out simply because Sanibel will no longer be part of ICAN. After the dividend is paid, I expect ICAN to drop pretty good but I also believe that the new shares of the OTCBB stock will more than make up for it. I might be one of the ones that sells ICAN afer the dividend, it depends on alot of things but I might sell ICAN and then jump back into it once it settles down. Who knows I might even sell ICAN and use that money to buy more shares of the new OTCBB stock Posted by ARI on :
Leardon any speculation on when they will announce the OTCBB?
Posted by Leardron on :
quote:Originally posted by ARI: Leardon any speculation on when they will announce the OTCBB?
Well, like I said before. They are saying over on the paltalk chat that he said in 30 days (which was from Thursday last week). I did not hear him say that but I didn't listen to the whole thing either. Now he has always said all along that he wanted to have it done by the end of the 2nd quarter so if 30 days pass and it still isn't done, I am not going to be particularly upset.
Posted by ARI on :
Thankx leardon..
Posted by Ric on :
I think buying the OTCBB as soon as possible will be a good investment. I think it will over run too because there looks to be a couple groups eyeing this. Like Qbid last year when it ran over 2 cents. After the initial run started there were other forces that ran it past its market level. So a retracement was going to happen. I see some member on all boards that get involved in this. So I believe those who play this smart will make out very well. Lots of bashers and pumpers coming out that do this for a living (daytraders).
Ric
Posted by rickpic on :
I believe that the formation of the entertainment division has given The Hotel and catoring portion of ICAN a foothold for the long term. This will add new revenue to that portion of ICAN for the forseeable future and Ed has already stated that he will be looking to bring in other hotels to keep it growing.
The Sanibel's are already very high on the Florida food chain and will be relatively easy to build into existing or even newly build locations to further grow that portion of what ICAN now is.
I also feel that investors should take profits along the way, but at the same time I see a very long term investment growth statigy in place here.
Good Luck Cheers Rick
Posted by bmaxingout on :
imho this dump that some are talking about is not going to happen as far as im concerned this stock is at the bottom of the trading range and that can only mean one thing now dont get me wrong it could go down some but it wont stay there.i listened to the same thing two years ago about OMOG and now im sitting on a nice pile of cash this is going to be the same. I dont generaly buy sub penny shares but every once and a while there is one that you just cant pass up and im not passing on this one . we are seeing just one of the fist spin offs from ican there will be more. good luck all and dont be down on this remember long and hold is the way to go
Posted by Doctoall on :
quote:Originally posted by Ric: Well, as I said that is will make you money. Not trying to talk nyone out of investing here. I think there is a lot of hype and over valuation that will run this over its true value after the dividends. All I was trying to say is take profits and if you still like it buy back at retracement. There is a huge push right now so I do see profit here. Just giving a friend advice to take the profits after the big run, thats all.
Ric
Ric I truly appreciate your concern for your friends. Posted by Forrestgump on :
Everything looks good for some 0003 sales this week
Posted by Jonathanlb8 on :
quote:Originally posted by stockguy123: Everything looks good for some 0003 sales this week
This kid seriously has nothing better to do. If you look at his last posts, all he posts on AS is his crappy bash posts on ICAN. Go do something with your life. Do you actually have any good picks to recommend,or is bashing the only thing you do?
Posted by Forrestgump on :
Jonathan and all other don't argue just ignore this guy.
Posted by tntrader on :
yawn.
Posted by Leardron on :
Can you say Stuck! Posted by stockguy123 on :
Don't worry, heading south this week
Posted by justplayin on :
Guys & Gals, flip a coin to tell if it will go up or down in the next week. You have as much of a chance of getting it right as everyone else.
JMHO, this stock will do NOTHING up or down until the company announcements of advancement of the spinoff.
Quit worrying about a basher trying to get shares. At .0005 it's really cheap!
Posted by stockguy123 on :
.0001-0002 is even cheaper !
Posted by stockguy123 on :
ask 0005; bid 0004; now we're moving as I said we would
Posted by dellamorte dellamore on :
I agree it won't make a move until a PR with some real substance is released .
Posted by Jonathanlb8 on :
quote:Originally posted by dellamorte dellamore: I agree it won't make a move until a PR with some real substance is released .
Diddo
Posted by bmaxingout on :
hey 123 do you own any of this stock or are you just a basher
Posted by ya ya on :
trying to get in @.0004 but not taking yet
Posted by Jonathanlb8 on :
quote:Originally posted by bmaxingout: hey 123 do you own any of this stock or are you just a basher
Basher!
Posted by stockguy123 on :
YA YA, you should get a fill this week. Bid should drop to 0003, maybe some 0003 sales this week.
Posted by homer_0 on :
All I can say right now is, at the price I got in at, I have lost a good amount of money, but I still have faith in ICAN/IBAC. Lets just wait and see what the future brings! Holding strong here.
Posted by USF11 on :
Theres a rumor going around ICAN will annouce a buyback and divends by the end of he week. This annoucement could be as early as tommarrow. This one could get interesting.I jumped in for a couple million could be a good momo play. Nothing long term.
Posted by Mack on :
BACK UP TO .0006
Posted by Jonathanlb8 on :
Stockguy123 must be going crazy!
Posted by bmaxingout on :
not yet but he will be lol remember this one is a long hold not really for the day traders taste remember buy large and hold and shut the daytraders out this would make buffett proud lol
Posted by Jonathanlb8 on :
Like the way you put it.
Posted by scoopman on :
It's 8:30am and I am still waiting for this morning's comic relief. Where are you Stockguy123?
Posted by Mack on :
stockgirl123 is probably getting his daily enima!!!! lol,....
Posted by stockguy123 on :
Ok, since everyone is waiting for my advice. Here it is, bid to drop to 0003 this week, some 0003 sales. Next week, continuation of the same, bid to keep tanking until 0001-0002.
Posted by Mack on :
stockgirl123 you've been saying the same thing for weeks now can you change your fantacy a little bit.... lol
Posted by stockguy123 on :
Yeah, I've been saying it would come down the last couple of weeks, and I've been right.
Posted by scoopman on :
I purchased at .0005 three weeks ago and the price hasn't come down, only leveled after a brief spike from the interview. Everyone knew that was only a temporary price spike until the news gets more substantial.
Posted by tntrader on :
News..ICAN to retire 6M shares..PR below....
(BSNS WIRE) IBAC Corporation to Retire Six Billion Common Shares IBAC Corporation to Retire Six Billion Common Shares
Business Editors
NEW YORK--(BUSINESS WIRE)--March 9, 2005-- IBAC Corporation, (Pink Sheets: ICAN) announced today that it's CEO, Mr. Edward W Hayter, will retire 6,000,000,000 shares of his personal ICAN common stock. IBAC Corporations board of directors has agreed to retire the ICAN shares to the treasury. The 6,000,000,000 shares are ICAN common stock. Mr. Hayter will obtain a class of preferred stock with majority voting rights. The retirement of the stock will occur within the next month and is subject to all sec and regulatory statues. "This non-dilutive measure will bring an increased value to our shareholders," said Hayter. "We have negotiated and put contracts into place to ensure longevity for our company and, as this occurs, we will take steps to bring further value to our shareholders." This measure is taking place to position the company for the eventual sale or merger of one or more of its subsidiaries to a fully reporting/trading otcbb company.
About IBAC Corporation
IBAC Corporation, a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group / National Hospitality Management Service/ The Royal Entertainment Group and The Royal Arkansas Hotel & Suites IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
KEYWORD: NORTH AMERICA NEW YORK UNITED STATES INDUSTRY KEYWORD: TRAVEL LODGING RETAIL FOOD/BEVERAGE RESTAURANT SPECIALTY CONSU ER SOURCE: IBAC Corporation
HEY 123 CAN YOU SMELL IT SMELLS LIKE CASH TO ME AND A LOT OF IT. YOU MAY WANT TO GET IN NOW BEFORE THE PRICE JUMPS!! LOL
Posted by Forrestgump on :
The rumor was right...
Posted by Mack on :
lol 123 is a looooooooser!!!!!
Posted by Doctoall on :
Sweet news Very glad that I topped up.
Posted by Doctoall on :
quote:Originally posted by stockguy123: Ok, since everyone is waiting for my advice. Here it is, bid to drop to 0003 this week, some 0003 sales. Next week, continuation of the same, bid to keep tanking until 0001-0002.
In your dreams Posted by Mack on :
I bet stockgirl123 just crapped all over himself...sucks to be wrong doesnt it...
Posted by Mack on :
vol skyrocketing
Posted by tuckermen on :
You know, I bought a little more yesterday, and for once had descent timing.
But, I am still kicking myself for not buying as much as I really wanted to. O'well some is better then none.
There is still time though, this is more then a day trade, maybe I will pick here and there.
Posted by scoopman on :
From the company's website:
OUTSTANDING SHARES AS OF 1/26/05
6,030,743,925 Restricted In Managements Control 1,307,271,661 In The Public Float
Explain what the latest PR will do to these numbers. I am still trying to understand all the authorized/outstanding stock stuff.
Thanks
Posted by stockguy123 on :
Another P&D scam pr, I hope you're smart enough to take your gain this time. It will be down for sure soon
Posted by scoopman on :
Hey stockguy123, what stocks are you holding? Just curious because you don't post on any other thread.
Posted by Doctoall on :
quote:Originally posted by stockguy123: Another P&D scam pr, I hope you're smart enough to take your gain this time. It will be down for sure soon
Geez and your predictions are so right !!!! WRONG Posted by Mack on :
scoop---- he posts on prrm lol!!! sucks to be stockgirl123
Posted by Leardron on :
quote:Originally posted by stockguy123: Another P&D scam pr, I hope you're smart enough to take your gain this time. It will be down for sure soon
LOL, Stockguy. This just shows you know nothing about this stock. This is all part of Ed's plan and if you had been listening to his talks you would know this. This is no P&D, this is just part of the process of moving assets to the OTCBB. He is doing this so when he announces the dividend that the dividend shares aren't diluted and that the new OTCBB stock retains it's current pps or at least close to it. Don't go crying now because you now see the boat pulling out and you missed it. Better get out your life preserver and try to make a swim for it before it gets too far away, LOL.
Posted by Mack on :
lol leardron!!!!! well said!!!! couldnt have said it better myself...
Posted by Leardron on :
He must have pretty close to his 500 Million shares to announce this because he basically has retired all of his restricted shares and he wouldn't have announced that if he didn't know that he still had majority control of the stock.
Posted by bmaxingout on :
123 MAYBE YOU WERE RIGHT I HAD BETTER START SELLING NOW HUH HAHAHAHAHAHAHAHAHA OH WAIT A MIN. .0008 MAYBE ILL HOLD ON FOR A FEW HAHAHAHAHA
Posted by justplayin on :
quote:Originally posted by Leardron: He must have pretty close to his 500 Million shares to announce this because he basically has retired all of his restricted shares and he wouldn't have announced that if he didn't know that he still had majority control of the stock.
The pr states that he is getting preferred majority voting stocks in exchange for the common shares.
This is GREAT news for us investors. Yes, investors, not traders Posted by bmaxingout on :
remember buy large and hold SHUT OUT THE DAYTRADERS
Posted by Forrestgump on :
OTHER NEWS
Press Release Source: IBAC Corporation
IBAC Corporation to Retire Six Billion Common Shares for the Intent to Offer the Common Shareholders Dividends Wednesday March 9, 12:17 pm ET
NEW YORK--(BUSINESS WIRE)--March 9, 2005--IBAC Corporation, (Pink Sheets:ICAN - News) announced today that it's CEO, Mr. Edward W Hayter, will retire 6,000,000,000 shares of his personal ICAN common stock in exchange for a class of preferred stock.
The Company's intent is to offer dividends to the common stock holders, which dividends will not be offered to the insider preferred shareholders. This measure is taking place to position the company for an eventual sale or merger of one or more of its subsidiaries to a fully reporting OTCBB company.
IBAC Corporations board of directors has agreed to retire the ICAN shares to the treasury. The 6,000,000,000 shares are ICAN common stock. Mr. Hayter will obtain a class of preferred stock with majority voting rights. The retirement of the stock will occur within the next month and is subject to all SEC and regulatory statues.
"This non-dilutive measure will bring an increased value to our shareholders," said Hayter. "Our long term plans include negotiating and putting contracts into place to ensure longevity for our company and, as this occurs, we will take steps to bring further value to our shareholders."
About IBAC Corporation
IBAC Corporation, a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group / National Hospitality Management Service/ The Royal Entertainment Group and The Royal Arkansas Hotel & Suites IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. Contact:
Source: IBAC Corporation
Posted by justplayin on :
Wow, a divy, SWEET Posted by Leardron on :
quote:Originally posted by justplayin: Wow, a divy, SWEET
Yea, what is nice about this PR is he is saying that the preferred shares he is getting in exchange for the restricted shares will not be included in the OTCBB stock dividend. That means just the current float of 1.3 Billion shares will be included in the stock dividend.
Posted by dellamorte dellamore on :
By the way , where is Stockguy , drowning his sorrows in copious amounts of Tequilla probably , dreaming about what could have been . This should shut him up for good , i said it before , the bashers are losing more and more power because of the patient and informed .
Think it's time for whoever paid him to get a refund ?
Posted by tuckermen on :
Has anyone gotten any more clarification as to how the shares of the spinoff will be divied out to current ican holders?
Posted by scoopman on :
Can anyone post some Level II's. I don't have this privledge for the pinks. Curious to see what the support is looking like. Thanks in advance.
Posted by Leardron on :
quote:Originally posted by tuckermen: Has anyone gotten any more clarification as to how the shares of the spinoff will be divied out to current ican holders?
You'll never get any specific information until he actually announces what the dividend will be. All he has said is that the current OTCBB stock that he wants to spin off to is at a pps of $2.00. He said he wants to try to maintain that value after the dividend is given out. He doesn't want this new stock to become another penny stock. Therefore I can imagine one thing is that the O/S of this new stock is relatively low. The nice thing about this PR is that he just helped that ratio between ICAN shares and the new stocks shares greatly. With this news, this stock is even more undervalued than before.
Example, let's say that the current O/S of the new stock is 13 million shares (just for arguement sake and I believe that is will probably be around there) and ICAN will now be down to the float which is 1.3 Billion. That means he would give out 1 share of the OTCBB stock for every 100 shares of ICAN. The huge part of this is lets say you have 10 Million shares of ICAN currently. That means you will get 100,000 shares of the new stock at $2.00 pps or $200,000! Again, just a theory but I don't think it is that far off.
Posted by tuckermen on :
Thanks Leardron, I tend to agree with your speculation, and with that being said, that puts a pps of ican shares at about 0.02 Like you said, I guess we will just have to wait and see. I for one think it is well worth the risk.
Posted by tntrader on :
I believe the stock dividend would be more along the lines of this:
If you own $500 of ICAN, you will receive $500 (or some $ amount less than $500) in the new stock. In this scenario you would receive 250 shares of the new stock.
If they do what you are speculating Leardron, there would be a record sell-off of the new stock which they do not want…
Posted by tuckermen on :
tntrader,
Are you saying 500 dollars original investment or 500 dollars current worth at time of spin-off?
What I am asking is say you invested 500 today, and then 3 weeks from now the spin off is announced and the price of ican is 10fold higher, so now you have 5000. Would you get 250 shares or 2500 shares. Just wondering. Thanks.
Posted by tntrader on :
I have no idea. I just don't think the spinoff will be in relation to the # of shares of ICAN we own. Unfortunately.
Posted by Leardron on :
quote:Originally posted by tntrader: I believe the stock dividend would be more along the lines of this:
If you own $500 of ICAN, you will receive $500 (or some $ amount less than $500) in the new stock. In this scenario you would receive 250 shares of the new stock.
If they do what you are speculating Leardron, there would be a record sell-off of the new stock which they do not want…
That's a possibility too. There is a problem with that scenerio though. If the current pps doesn't go up that much from now till the dividend you are going to hardly give out any shares to the share holder. For example let's say the pps is at .002 when they pay the dividend. That means that the whole holdings of ICAN is only worth 2.6 Million dollars which means that you are only going to give out 1.3 million shares of the stock to the share holders at $2.00 per share. That seems extremely low and I doubt that the o/s of the new OTCBB stock would only be 1.3 million shares.
Plus I would think that he would have to announce at the time of the declaration of the dividend what the dividend amount would be. In my example I was being generous at saying .002 pps. I don't think you will see that till after the announcement is made. I think this will stay around .007 to .001 until that time. Which will make ICAN even worth less at the time of the annoucement. Unless the pps really starts moving I don't realistically see him being able to do it by the value scenerio.
Posted by Galaxy on :
WOWWWWWWWWWWWWWW LOTS OF GOOOD NEWS....HOLDINHG LONG HERE... :-)
Posted by Leardron on :
Wow, MORE NEWS!
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
IBAC Corporation to Meet with Counsel to Finalize Exact Details of Sale/Merger of Subsidiary and Shareholder Dividends
NEW YORK, Mar 09, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets: ICAN) announced today that they will be meeting with counsel to discuss the best and final strategy of the sale/merger of one or all of IBAC's subsidiaries to a fully reporting, OTCBB listed company. "We will be meeting with specialists and counsel in the coming weeks to finalize the most effective way to complete the sale/merger and dividends distribution," said Edward W. Hayter. "Our company is experiencing exceptional growth and will continue to strive towards maximum value for our shareholders."
Mr. Hayter will be interviewed tomorrow, March 10, 2005, by www.******************.com at 1:30 pm with the interview available to listen to the above mentioned.
The Company's intent is to offer dividends to the common stock holders, which dividends will not be offered to the insider preferred shareholders.
About IBAC Corporation
IBAC Corporation is a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group/National Hospitality Management Service/The Royal Entertainment Group and The Royal Arkansas Hotel & Suites, IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward-Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Copyright Business Wire 2005
Posted by tntrader on :
Awesome!
Posted by Leardron on :
Stockguy. I think you better start swimming after the boat a little faster. Ed isn't playing around anymore. Wall Street Reporter is another big step.
Posted by stockguy123 on :
This is sure starting to be like the MLON scam. Remember all those pump pr's MLON was putting out, this sure looks the same. Got to wonder if this might get a SEC halt. Oh well, its been a good P&D, hope you guys are cashing in.. don't be a bagholder
Posted by Leardron on :
quote:Originally posted by stockguy123: This is sure starting to be like the MLON scam. Remember all those pump pr's MLON was putting out, this sure looks the same. Got to wonder if this might get a SEC halt. Oh well, its been a good P&D, hope you guys are cashing in.. don't be a bagholder
Hmm, I don't recall the CEO of MLON talking to his share holders on a regular basis answering all their questions. I also don't remember the CEO of MLON going on a web publication that has over 45 Million viewers per month to open himself up to questions. This is no scam and I will be laughing all the way to the bank once it falls into place.
Posted by Galaxy on :
MLON is just paper company....one cant compare MLON with ICAN(IBAC)
Posted by justplayin on :
OMG - LMFAO
Guys, he can't be serious!!
If he is, he can't be reasoned with anyway. Let it go!
Posted by Leardron on :
quote:Originally posted by justplayin: OMG - LMFAO
Guys, he can't be serious!!
If he is, he can't be reasoned with anyway. Let it go!
Already gone. I am just waving at him standing at the dock from the boat Posted by Jonathanlb8 on :
Looks like you're not going to see that .0003 or below this week, or maybe not for a long time stockguy123. Hope you made money on something else.
Posted by stockguy123 on :
Yeah, guess I'll have to wait another week
Posted by Jonathanlb8 on :
I've never seen someone waist so much time.
Posted by Jonathanlb8 on :
Dam, 3 PR's in one day. Not bad ICAN.
Posted by Jonathanlb8 on :
Just bought another 1.5 mil. My guess is once we pass .001 it will be cool sailing from there. The hardest part is usually getting past the 3 0's.
Posted by Jonathanlb8 on :
ask at .0009
Posted by Jonathanlb8 on :
There goes .0009. Now lets hit .001 before the day is over and we'll look great for tomorrow.
Posted by bmaxingout on :
HEY 123 IT JUST HIT 0009 SHOULD I SELL NOW HAHAHAHAH
Posted by rickpic on :
The ICAN HISTORY! updated 3/9/05 WOW!!
The Following is a complete history of Ibac Corporation (Pink Sheets:ICAN) starting with the most recent announcement.
3/9/05 IBAC Corporation (Pink Sheets: ICAN) announced today that they will be meeting with counsel to discuss the best and final strategy of the sale/merger of one or all of IBAC's subsidiaries to a fully reporting, OTCBB listed company.
"We will be meeting with specialists and counsel in the coming weeks to finalize the most effective way to complete the sale/merger and dividends distribution," said Edward W. Hayter. "Our company is experiencing exceptional growth and will continue to strive towards maximum value for our shareholders."
Mr. Hayter will be interviewed tomorrow, March 10, 2005, by www.******************.com at 1:30 pm with the interview available to listen to the above mentioned.
The Company's intent is to offer dividends to the common stock holders, which dividends will not be offered to the insider preferred shareholders.
________________________________________________
3/9/05 IBAC Corporation, (Pink Sheets:ICAN) announced today that it's CEO, Mr. Edward W Hayter, will retire 6,000,000,000 shares of his personal ICAN common stock in exchange for a class of preferred stock.
The Company's intent is to offer dividends to the common stock holders, which dividends will not be offered to the insider preferred shareholders. This measure is taking place to position the company for an eventual sale or merger of one or more of its subsidiaries to a fully reporting OTCBB company.
IBAC Corporations board of directors has agreed to retire the ICAN shares to the treasury. The 6,000,000,000 shares are ICAN common stock. Mr. Hayter will obtain a class of preferred stock with majority voting rights. The retirement of the stock will occur within the next month and is subject to all SEC and regulatory statues.
"This non-dilutive measure will bring an increased value to our shareholders," said Hayter. "Our long term plans include negotiating and putting contracts into place to ensure longevity for our company and, as this occurs, we will take steps to bring further value to our shareholders."
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3/7/05 IBAC Corp (ICAN) Is seeking joint venture partners and licensing agreements for its Sanibel Steakhouse Brand throughout major cities across the country.
The Sanibel Restaurant Group management has determined to accelerate growth they will embark on an aggressive plan to seek qualified candidates to license or joint venture new or to convert existing properties for our brand in major cities, the company will work in three phases with its first efforts being the eastern third of the country with emphasis on major cities within the states of New York, Pennsylvania, New Jersey, Connecticut, Ohio, Georgia and other cities within Florida the second phase will concentrate on the middle third of the country and the final phase being the western third of the country. The company is seeking a minimum of ten properties per phase initially.
"We look forward to this added strategy for growth as another avenue to achieve our goals of increased revenue and locations, we will use this formula to grow the company aggressively and continue to seek additional synergistic properties through mergers or acquisitions to maximize revenues," said Karl Wenzel President, The Sanibel Restaurant Group.
Mar 2 2005 IBAC Corporation (Pink Sheets:ICAN) today reported February 2005 revenues of $415,971.98 combined for The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites compared to January combined revenues of $245,872.27.
For the month, The Sanibel Restaurant Group revenues increased $108,364.90, or a 44 percent gain, over the same period last year. The Royal Arkansas Hotel & Suites revenues increased $95,616.00 or a 56 percent gain over the same period last year. (The company did not own them last year)These revenue figures are compiled from internal company accounting/bookkeeping and are subject to an audit by the company's independent accountants/auditors.
"We are very pleased with the operating results of these two subsidiaries and attribute the growth in revenues to the management capabilities of Mr. Karl Wenzel and Mr. Gary Becker respectfully. The significant growth was achieved because of the company's ability to recognize undervalued and mismanaged properties along with its ability to make acquisitions of such properties rather quickly. We will continue to use this formula to grow the company and continue to seek additional synergistic properties through mergers, acquisitions or the creation of new entities to maximize revenues," said Edward W. Hayter President & CEO.
The company's other two subsidiary's National Hospitality Management Services which holds the contract for all food, beverage, catering & concessions at The Pine Bluff Convention Center had only a partial month of income and will be reported within the March revenues, The Royal Entertainment Group had no revenues as it has recently established and will report revenues as the are received on a monthly basis.
The Company also intends to complete the already contracted acquisitions of the Bonita Springs property within 90 days and the Naples property within 120 days.
Feb 24, 2005 IBAC Corporation (Pink Sheets: ICAN), two leading financial services companies have provided The Royal Arkansas Hotel & Suites, Inc. additional credit facilities creating a combined $1 million dollar credit facility available to the company, to be designated as a standby working capital line of credit and a new term loan.
"We are pleased to enter into a new banking relationship with Simmons First National Bank and our continued relationship with Zions National Bank, our company is very pleased with the additional credit facilities as this will help us foster our growth, we are firm believers in the value of securing debt capital as an adjunct to equity financing, so we are delighted to have received these additional credit facilities, we considered a couple of alternatives when it came to choosing banking partners, but we came to the conclusion that these financial institutions are the right institutions for us," said Gary Becker, President The Royal Arkansas Hotel & Suites.
The company has retained the Reed Architectural Firm to design certain exterior and interior upgrades to the Hotel & Restaurants, a new state of the art ($75,000.00) phone system has also been recently installed and bids are being excepted for 300 new televisions and other upgrades as part of an ongoing project to enhance the property value and provide maximum comfort for our guests.
FEB 23 2005 IBAC Corporation Completes the Formation of a Wholly Owned Entertainment Subsidiary IBAC Corporation (Pink Sheets:ICAN) today announced the formation of a wholly owned entertainment subsidiary named The Royal Entertainment Group, Inc.
"We are very excited about the formation of this new entity, as we will be using this subsidiary to book concerts and events into the Pine Bluff Convention/Arena Complex, thus increasing traffic to the complex and the company's restaurants, bars, concessions at the convention center and hotel. We are currently negotiating dates with such artists as BB King, Ashford & Simpson, Al Jarreau, Roberta Flack and other acts with the intent of producing at least one show every six weeks or so. It is the company's intent to maximize its revenue stream through out the entire complex," said Edward W. Hayter President.
The Newly formed subsidiary will be responsible for bringing first class entertainment to the complex in the form of plays, music , sporting and other events. Currently the company is working on a full slate of events for the remainder of the 2005 season with offers pending on several shows and events, as this will create another source of revenue to the company while enhancing traffic to the complex.
FEB 22 2005 International Broadcasting Corporation Announces New Sponsor for ``Stock Talk LIVE'' Radio Show: IBAC Corporation International Broadcasting Corporation ( IBCS ), announced today that it has signed on a new sponsor for its radio talk show "Stock Talk LIVE." IBAC Corporation ( ICAN ) is the latest sponsor for the show. "Stock Talk LIVE" is a fully interactive business radio talk show focused exclusively on micro-cap stocks. The show is "on-the-air" each and every stock market day from 9:30 AM to 4 PM EST.
Interactivity, interesting guests, and significant short-term trading opportunities are featured in each edition of "Stock Talk LIVE." Interviews, commercials, and news updates about IBAC Corporation will air on the show. IBAC Corporation will also get additional exposure on other programs that air on the IBC Radio Network.
Feb 18, 2005 IBAC Corporation CEO T address shareholder during question and answer session on "PalYalk"
Dan York Administrator for www.paltalk.com Sterling's Classroom today announced that he has invited IBAC Corporation (Pink Sheets: ICAN), Management to participate in their free public forum for a question and answer session on Tuesday February 22, 2005 at 9PM EST. Edward W. Hayter, the Company's President and Chief Executive Officer, has accepted the invitation.
"I look forward to addressing any and all questions or comments regarding our company from shareholders and non shareholders alike, as this will give me the opportunity to set the record straight on many issues regarding our company and the company's plans moving forward," said Edward W. Hayter President & CEO.
For all interested if you are not a member of Paltalk already you can download a version of the required software for free at: http://www.paltalk.com/PalTalkSite/ ___________________________________________________________
Feb 17, 2005 IBAC Corporation (ICAN.PK) is in discussions with a Company to sell certain assets of IBAC. In the event that an agreement is reached, the subject assets would be sold in exchange for stock in a public entity trading on the bulletin board market. The public entity would be required to register the stock for distribution to the IBAC shareholders.
The discussions have not been solidified into a formal agreement as of yet, but are proceeding quickly. Any agreement will be subject to proper regulatory approvals and shareholder's consents. Moreover, the transaction would also be subject to an audit of IBAC's financial statements and an appraisal of the assets which would be subject to the sale.
IBAC has already retained an auditor, as previously announced, and intends to distribute an annual report to its shareholders upon completion of its financial statements, regardless of the potential transaction.
IBAC Corporation currently operates through its majority owned subsidiaries National Hospitality Management Services, The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites the company has some 95 employees and with the addition of the two contracted Sanibel Steakhouses in the near future the company will then have some 175 to 200 employees. ___________________________________________________________
Feb 16, 2005 IBAC Corp announces that it has agreed in principle to spin off some or all of its assets to an otcbb company subject to all regulatory approvals & SEC filing requirements.
"The spin off of assets should result in a premium to shareholders (to be determined) once the transaction is completed. The terms and conditions of the spin off will be made public upon completion of agreements along with the otcbb company and symbol. The company intends to execute this agreement as a stock dividend with free trading shares of a fully reporting OTCBB company to ICAN shareholders with the effective date to be announced in the near future. The agreement is subject to completion of audited financials of IBAC's assets and all SEC requirements. " Said Edward W Hayter President & CEO
Feb 10, 2005 IBAC Corporation (ICAN:PK) today announced the completed acquisition of a majority interest in The Royal Arkansas Hotel & Suites. The acquisition was completed at the law offices of Legal & Compliance, LLC of West Palm Beach, Florida
"We are very pleased with the speed at which this acquisition has been completed with a very special thanks to Laura Anthony, Esq, The Royal Arkansas Hotel & Suites will now be under the IBAC umbrella as a majority owned subsidiary of the company as we continue to grow our company." Said Edward W. Hayter- President ___________________________________________________________
Feb 9, 2005 IBAC Corporation (Pink Sheets:ICAN) today announced the formation of an entertainment subsidiary to be named Royal Arkansas Productions, Inc.
"We are very excited about the formation of this new entity, as we plan on using this subsidiary to book concerts and events into the Pine Bluff Convention/Arena Complex, thus increasing traffic to the complex and the company's restaurants, bars, concessions at the convention center and hotel. We are currently negotiating dates with such artists as BB King, Ashford & Simpson, Al Jarreau, Roberta Flack and other acts with the intent of producing at least one show every six weeks or so. It is the company's intent to maximize its revenue stream through out the entire complex," said Edward W. Hayter President.
The company is in the initial stages of having an audit performed for the purpose of becoming a fully reporting entity with the intent of either becoming listed on the OTCBB or Nasdaq Small Cap Exchanges.
The company continues to aggressively seek additional synergistic acquisitions or mergers to enhance assets and revenue stream while it negotiates some current prospects.
Feb 7, 2005 IBAC Corporation (ICAN:PK) today announced the closing date for The Royal Arkansas Hotel & Suites. The closing is scheduled on or before March 1, 2005 upon completed contracts due this week.
"We are very excited about this asset coming into our fast growing company as it will add some 3 to 4 million dollars a year in revenue and enhance our presence within the Pine Bluff Convention Center Complex, along with other current assets this will bring our projected revenues to 7 to 8 Million for this year as the company stands right now. Upon closing the two other contracted Sanibel Steakhouses by years end this will give the company another 5 to 6 Million in revenues over all giving the company through its subsidiaries a combined revenue stream of some 12 to 14 Million dollars per year, we are keeping within are stated strategy of aggressive growth over the next three years ." said Edward W Hayter President
Feb 3, 2005 IBAC Corporation (PINK SHEETS: ICAN), a leading food & beverage/restaurant company today announced that Edward W Hayter, the Company's President and Chief Executive Officer, is purchasing additional stock from the open market for his personal account. Mr. Hayter intends to purchase stock on the open market in accordance with SEC Rule 10b-18.
Mr. Hayter said, "I have strong confidence in IBAC and believe, given our current position, our stock is undervalued and I intend to accumulate up to 500,000,000 shares to add to my portfolio in the near term."
Mr. Hayter added, "With our current assets and revenue stream along with the addition of The Royal Arkansas Hotel & Suites we have shown solid growth and the current quarter looks very good. Along with other prospects I believe our future will be a surprise to the marketplace.
Feb 2, 2005 IBAC Corporation (PINK SHEETS:ICAN) today announced that they have entered into a definitive letter of intent whereby IBAC will acquire a majority control interest in The Royal Arkansas Hotel & Suites, Inc. the transaction is subject to a definitive agreement and all regulatory approvals.
The Royal Arkansas Hotel & Suites is a 200 room five story atrium Hotel on the grounds of the Pine Bluff Convention Center and is attached to the Convention Center. The Hotel features an indoor swimming pool two restaurants a lounge and 10,000 square feet of banquet space and 4000 sq feet of rent able office space in the lobby area. The hotel has a 23M dollar replacement value and was built in 1989 by Kemmons Wilson the founder of Holiday Inn and is approximately 180,000 square feet in size and holds a full liquor license.
The Pine Bluff Convention Center ( www. pinebluffonline.com) has 90,000 square feet of meeting and exhibit space, the Convention Center is the fourth largest meeting facility in the state of Arkansas. This colossal center features a state-of-the-art arena, an auditorium/theater, banquet hall, spacious lobby area, ample parking, full camper hookups, a beautiful park and the Arkansas Entertainers Hall of Fame.
" We have decided on this acquisition to enhance our holdings in Arkansas as IBAC thru its subsidiary National Hospitality Management Services already holds a (5) year contract with (4) renewable (5) year options for the food beverage, concession & banquet services at the convention center and also manages the food, beverage and banquet operations of the hotel. I am very excited about this acquisition as it gives IBAC exclusive revenue from everyone eating, drinking and lodging in the entire convention center complex to IBAC," said Edward W Hayter President
The Royal Arkansas Hotel & Suites is jointly owned by Turner Hughes Corporation and International Hotel Management. Turner Hughes Corporation is a private Investment Banking Firm owned by Edward W Hayter President of IBAC Corporation.
The company also keeping with its aggressive plan for growth over the next three years is in the preliminary stages of negotiating an acquisition of a chain of restaurants in Arkansas that has revenues of 13.5M per year with an EBITA of approximately 1.4M.
Jan 27, 2005 IBAC Corporation (Pink Sheets:ICAN) has recently rejected an offer from a company to purchase The Sanibel Restaurant Group. The potential purchaser valued the offer at $8.45 million, but this valuation was never substantiated by any form of independent review.
The unsolicited oral offer consisted of $1,000,000 cash at closing and a share for share exchange or stock swap agreement with the IBAC shareholders for shares in an OTC Bulletin Board company.
The offer did not contain a bid price per share and was not a tender offer.
IBAC's board of directors believes that the value of its current holdings will increase substantially once the company executes certain contracts and takes possession of two additional restaurants. It is IBAC's opinion that the combined value of the three restaurants with the business of its subsidiary National Hospitality Management will be more beneficial to the company, future growth, and the overall well-being of its shareholders.
Jan 26, 2005 National Hospitality Management Services a subsidiary of IBAC Corporation (PINK SHEETS: ICAN) and the Pine Bluff Civic Auditorium Complex Commission ( www.pinebluffonline.com) will hold a joint press conference on Thursday, January 27, to announce the awarding of the Exclusive Food, Beverage, Banquet Catering and Concession Agreement for the entire complex to National Hospitality Management Services.
The term of the contract is for (5) years with (4) successive options to renew for a term of (5) years each. The commission also agreed that it will not permit the sale of food, beverage, banquet, catering and concession services at the Convention Center by any other person, firm corporation, or entity other than National Hospitality Management Services while the agreement is in effect. The commission also granted the company exclusive rights the Banquet Hall Kitchen and all equipment.
"We are extremely excited about the awarding of this contract to our company as it will increase revenues by 4-5 million dollars and increase our operations in Arkansas above our existing (2) restaurants (1) lounge and 10,000 sq ft of banquet space." Said Gary Becker President of National Hospitality Management Services.
Jan 21, 2005 IBAC Corporation's board of directors have rejected a revised bid, saying it believes the company is worth more than 8.45M.
In citing its rejection of the revised bid, IBAC Corporation (PINK SHEETS:ICAN) said the company is currently trading at the low end of its value, based on its assets, revenue and forecasted future earnings.
The board believes the company has a better plan for stockholders. The unsolicited offer does not begin to reflect the real value, including the value we will create through management's plan to become a fully reporting company and moving up to the OTCBB or a possible reverse merger or a share swap with a fully reporting company, this in combination with the company's current revenue and assets.
"We believe that the rejection of this unsolicited offer is in the best interest of the shareholders as we are pursuing other options to enhance shareholder value, the company is currently preparing audited financials and have instructed the company's attorneys to review two proposed offers of a merger or stock swap with fully reporting companies," said Edward W. Hayter CEO.
The revised bid also valued the company at a price below the rate currently being paid in other transactions in the restaurant/food & beverage industry, IBAC stated.
Jan 18, 2005 National Hospitality Management Services Co. a subsidiary of IBAC Corporation (Pink Sheets:ICAN) announced today that Mr. Barry M. Bennett has been named Executive Chef in charge to over see all banquet and food service operations.
Prior to joining National Hospitality Management Services, Mr. Bennett served as Senior Food Service Specialist for Centerpoint a leading food service management company specializing in the management of food and beverage services at larger facilities and convention centers.
Mr. Bennett has over twenty years of food service industry experience; his last assignment prior to joining National Hospitality Management Services was overseeing the opening of the new Corpus Christi, Texas Convention Center food and beverage operations. He has also overseen large operations in Florida and Texas, Mr. Bennett is a graduate of The Culinary Institute of America.
Jan 13, 2005 National Hospitality Management Services Co., Inc. a food service management/operator of restaurants, banquet facilities and food & beverage services co. a subsidiary of IBAC Corporation (ICAN.PK) today announced their updated first quarter of 2005 event calendar.
"We are very pleased with the contracted services/events so far for the first quarter", said Mr. Gary Becker President of National Hospitality Management Services Co. "We expect to be adding more events to this schedule within the next couple of weeks."
Arkansas Kennel Club, Dog and Kennel Show University of Arkansas Shrine Convention 4 Separate Quarter Horse Rodeos Future Business Leaders of America Arkansas Christian Athletics Assoc Jamboree Square Dancers Minority Initiative (UAPB) Black Pilots of America Department of Labor MPX
These contracted events represent revenue to the company in excess of $250,000.00 for the quarter.
The company today also announced that they have been awarded certain contracts for food & beverage services with a revenue value to the company of 4-5M dollars and will be announced upon executed contracts.
Jan 12, 2005 The Sanibel Restaurant Group, Inc., a subsidiary of IBAC Corporation (ICAN.PK), announced today that the Board of Directors has reviewed the offer for The Sanibel Restaurant Group, Inc. and has concluded it inadequate.
"This offer by a fully reporting public company is unsolicited and only reinforces our belief that we are undervalued as a company, the Board of Directors has reviewed the offer and have countered the terms". Said Karl Wenzel President of The Sanibel Restaurant Group.
The company countered the offer based upon the pre tax proceeds to the company. The offer valued at 6.45M would have resulted in a pre tax profit of only 1.25M to the company which is well below industry multiples.
Jan 11, 2005 The Sanibel Restaurant Group, Inc. a subsidiary of IBAC Corporation (ICAN.PK), announced today that they have reviewed the offer for The Sanibel Restaurant Group, Inc. "This offer by a fully reporting public company is unsolicited and only reinforces our belief that we are undervalued as a company, we have reviewed the offer and are negotiating the terms as the offer stands right now it has a net value to the shareholders of 0.03 per share" said Karl Wenzel, president of The Sanibel Restaurant Group, Inc.
Jan 10, 2005 The Sanibel Restaurant Group, Inc. a subsidiary of IBAC Corporation (PINK SHEETS:ICAN), announced today that it has received an unsolicited offer for The Sanibel Restaurant Group, Inc.
"This offer by a fully reporting public company is unsolicited and only reinforces our belief that we are undervalued as a company" said Karl Wenzel, president of The Sanibel Restaurant Group, Inc.
The company will review the offer and determine if it is in the best interest of the company and its shareholders, The Sanibel Restaurant Group, Inc. upon completion of its contracted obligations will have 135 employees and revenue of 7.5M per year.
Jan 4, 2005 The Sanibel Restaurant Group, a subsidiary of IBAC Corporation (ICAN.PK), announced today that it has completed the acquisition of phase one of the Sanibel Steakhouses contract as previously announced.
"This completed acquisition will add 2.5M in revenue annually to the company and 35 employees immediately, the company has taken possession of the Ft Meyers property as owner/operator effective today." said Karl Wenzel, president of The Sanibel Restaurant Group.
The second phase of the Sanibel Steakhouse acquisition is expected to be completed on or before April 1, 2005 and that will add another 3.5M in revenue and 40 employees with the third and final phase being completed on or before July 30, 2005 adding an additional 2.5M in revenue and 30 employees, total value of the completed acquisition to the company will be revenue of 8.5M per annum with 105 employees.
Through its operating companies, IBAC Corporation owns/operates and manages restaurants & food and beverage service contracts; the company intends to become a fully reporting company by the end of the second quarter of 2005 with a balance sheet directed towards the nasdaq small cap.
The company is currently negotiating other acquisitions and expect to have completed contracts very shortly. It is the intent of the company to increase its Sanibel brand throughout Florida.
Jan 3, 2005 IBAC Corporation (ICAN.PK) today announced that during a Special Meeting of the Board of Directors the Company approved retaining the services of Grubb & Ellis Company one of the nation's largest commercial real estate services firms. Through its offices and affiliates in approximately 90 markets, they provide a full range of real estate services.
"Our Company is very excited about retaining the services of Grubb & Ellis," said IBAC Corporation President & CEO Edward W. Hayter. "As this will help us accelerate our stated business plan and growth objectives. IBAC through its Sanibel Restaurant Group subsidiary intends to grow its brand by acquiring other comparable restaurants and or developing new locations."
Dec 22, 2004 IBAC Corporation (Pink Sheets:ICAN) previously announced that during a Special Meeting of the Board of Directors the Company approved an increase of a nine percent (nine share) stock dividend to be paid simultaneously with the previous announced forward split of one percent (one share).
The share dividend is a forward split and will be effective on January 7, 2005. Stockholders of record will be entitled to an additional ten shares of common stock (free trading) for each one hundred shares of common stock held on that date; shareholders of restricted shares will not receive any additional shares. The proposed forward split is subject to regulatory approval.
Dec 21, 2004 IBAC Corporation (ICAN.PK) announced yesterday after the bell that during a Special Meeting of the Board of Directors the Company approved an increase of a nine percent (nine share) stock dividend to be paid simultaneously with the previous announced dividend of one percent (one share).
The share dividend will be effective on January 7, 2005. Stockholders of record will now be entitled to an additional ten shares of common stock for each one hundred shares of common stock held on that date. The proposed stock dividend is subject to regulatory approval.
"This Ten percent (10%) stock dividend is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership, bring awareness to the company and enhance shareholder value."
The Company would also like to address certain shareholder questions and concerns that have been presented;
Regarding Mr. Richard/Chris Astrom neither man has a management or ownership position with the company as previously stated.
The company will be closing on the first of its three Sanibel Steakhouse Restaurants per the previously announced contract terms on January 4, 2005 and will take possession of that property immediately this will add revenue to the company of 2M dollars plus per year for that location.
The National Hospitality Management Services Co. subsidiary has been awarded certain contracts that will be finalized by January 15, 2005 which brings revenue to the company of approximately 4M dollars plus.
The company intends to become a fully reporting company within the next six months.
The company feels that with its current businesses and contracted acquisitions it will have a balance sheet to support a move to either the otcbb or the nasdaq small cap exchanges within the coming year.
Current Management has been in control of this company for approximately three months and intends to build the company according to their stated business plan and if any person or persons continue to liable, slander, present misinformation or otherwise act in a fashion that is detrimental to the company or its shareholders The Company will seek full retribution of the law.
Dec 20, 2004 IBAC Corporation (ICAN.PK) announced today that during a Special Meeting of the Board of Directors the Company approved an increase of a nine percent (nine share) stock dividend to be paid simultaneously with the previous announced dividend of one share.
The share dividend will be effective on January 7, 2005. Stockholders of record will now be entitled to an additional ten shares of common stock for each one hundred shares of common stock held on that date. The proposed stock dividend is subject to regulatory approval.
"This Ten percent (10%) stock dividend is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership, bring awareness to the company and enhance shareholder value."
Dec 14, 2004 IBAC Corporation (ICAN.PK) announced today the status and progress of the company's business and activities.
The record date for the forward stock split will be January 7, 2005. Stockholders will receive one additional share of common stock for each one hundred shares of common stock held on that date. The mail date for the additional shares will be February 1, 2005.
"This forward stock split is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership and enhance shareholder value."
The scheduled closing date for the first phase of The Sanibel Restaurant Group will be January 4, 2005 at that time the company will take possession of The Ft. Meyers, Florida property. This date was chosen for tax purposes by the sellers.
The company is also bidding on certain food service & concession contracts at various arenas and expects the results of these bids by January 15, 2005.
The company has revamped its web site to better reflect the companies business and to better provide information for its shareholders and customers and will be up and available for viewing by tomorrow 12/15/04.
December 8, 2004 IBAC Corporation (Pink Sheets:ICAN) announced yesterday that during a Special Meeting of the Board of Directors the Company approved a 1 for 100 forward stock split of the Company's common stock (announcement).
The forward stock split will be effective on or about January 7, 2005. (Clarification) Shareholders will get one share of common stock for each one hundred shares of common stock they own on that date. The proposed stock split is subject to regulatory approval. The company apologizes for any confusion that the announcement may have caused.
"This forward stock split is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership and enhance shareholder value."
The company has received hundreds of calls regarding several issues first and for most is the question of a reverse split the company has no plans of a reverse split, secondly the company has been asked about any involvement of a Mr. Chris Astrom and/or Mr. Richard Astrom neither men have any involvement in management or ownership of this company furthermore if anyone persists in implying this the company will pursue any and all legal remedies.
The company has also been asked are we going to do anything to get the company noticed to the investment community. The company elected to reward current shareholders with a bonus and also bring attention to the company with the same bonus for potential new investors, as the company refuses to employ any stock promoters etc. as this is not in the company's or shareholders best interest.
Dec 7, 2004 IBAC Corporation (ICAN.PK) announced today that during a Special Meeting of the Board of Directors the Company approved a 1 for 100 forward split of the Company's common stock.
The forward stock split will be effective on or about January 7, 2005. Stockholders will be entitled to one share of common stock for each one hundred shares of common stock held on that date. The proposed stock split is subject to regulatory approval
Dec 2, 2004 National Hospitality Management Services Co., Inc., a food service management/operator of restaurants and banquet facilities, a subsidiary of IBAC Corporation (ICAN.PK) today announced their first quarter of 2005 event calendar.
"We are very pleased with the bookings so far for the first quarter said Mr. Gary Becker," President & COO of National Hospitality Management Services Co. "We expect to add more events to this schedule within the next couple of weeks."
Prince Hall Grand Lodge Regional Convention (Masons) Arkansas Kennel Club, Dog and Kennel Show University of Arkansas Shrine Convention 4 Separate Quarter Horse Rodeos Future Business Leaders of America Arkansas Christian Athletics Assoc Jamboree Square Dancers Minority Initiative (UAPB) Black Pilots of America
The company today also announced that they have retained the services of Carkoff Interior Design of Memphis, Tennessee a very prominent design firm to advise on their facilities.
Nov 30, 2004 IBAC Corporation (ICAN) announced today that Mr. Gary D. Becker has been named President & Chief Operating Officer of its National Hospitality Management Services Co. subsidiary.
Prior to joining National Hospitality Management Services Co., Mr. Becker served as President of International Hotel Management Corporation of Canada a company with interests in the hospitality industry.
Mr. Becker has over twenty five years of industry experience, with service to Drake International & the award winning Royal Brock Hotel Spa & Sports Club. While receiving his Degree in Business Administration from Waterloo Lutheran University. (Honors Accounting and Economics) Mr. Becker has served as Director of several recognized organizations the Brockville Museum Board, Brockville Center for The Arts, Brockville Symphony, Brockville Chamber of Commerce, Halifax Board of Trade, Greater Boston Chamber of Commerce, and Brockville Historical Society.
Nov 29, 2004 IBAC Corporation (ICAN.PK) has completed the Acquisition of National Hospitality Management Services Co., Inc. a food service management/operator of restaurants, banquet facilities and a lounge. This follows the announcement on November 18, 2004 of the signing of agreements regarding the acquisition. IBAC Corporation will operate its majority ownership interest as a subsidiary. The acquisition has been funded with restricted securities and is expected to generate revenues immediately
Nov 18, 2004 IBAC Corporation (Pink Sheets:ICAN), a restaurant owner/operator and management company, today announced that it has signed the contracts (which are subject to due diligence) to acquire a majority interest in National Hospitality Management Services Co., Inc. as previously announced.
Nov 17, 2004 IBAC Corporation (ICAN) announced today that Mr. Karl Wenzel has been named President & Chief Operating Officer of The Sanibel Restaurant Group, Inc. Prior to joining The Sanibel Restaurant Group, Mr. Wenzel served as President of Caleric Corporation a private holding company with interests in the hospitality industry. Mr. Wenzel has over thirty years of industry experience, with service to the Marriott Corp & Royal-Caribbean Cruise Lines. While receiving his Master Chefs designation in 1971 from the famous Steigenberger Hotel & Management School. Mr. Wenzel was designated by The Chaine des Rotisseurs in Paris and is also a member of the Maitre de Cuisine of France, The Etol of Escoffier, and World Master Association in Singapore. He has also hosted television shows on PBS & The Family Channel and has authored three books published in five different languages.
Nov 16, 2004 IBAC Corporation (OTC.PK:ICAN), today announced that it has signed the contracts (which are subject to due diligence) to acquire a majority interest in National Hospitality Management Services Co., Inc. as previously announced. The acquisition consists of a management company that will operate two restaurants, lounge and over eight thousand square feet of banquet space within a major hotel. The Hotel is part of the Pine Bluff Convention Center complex in Pine Bluff, Arkansas the anticipated gross revenue to the company should be in excess of four million dollars a year.
Nov 8, 2004 IBAC Corporation (OTC:PK:ICAN) has entered into a definitive letter of intent whereby IBAC will acquire a majority control interest in National Hospitality Services Co., Inc.
Oct 25, 2004 IBAC Corporation (OTC.PK:ICAN), today announced that it has retained the services of Bagell, Josephs & Company as auditors & financial advisors. "We are pleased to engage the services of Bagell, Josephs & Company as auditors & financial advisors. As a well respected accounting & auditing firm we will rely on their expertise and experience for the current acquisition of The Sanibel Restaurant Group, Inc. and further acquisitions and/or mergers," said Edward W. Hayter, IBAC President & CEO."
Oct 20, 2004: ICAN - IBAC Corporation Has Executed Contracts to Acquire the Sanibel Restaurant Group, Inc. as Previously Announced by a Definitive Letter of Intent! The acquisition consists of three upscale steakhouses located in Ft. Meyers, Bonita Springs & Naples, Florida. The acquisition is a three phase contract with the first of the restaurants scheduled to close on or before December 31, 2004 upon completed acquisition of all three restaurants the anticipated gross revenue to the company should be in excess of eight million dollars a year.
Oct 19, 2004 IBAC Corporation (OTC.PK:ICAN), a restaurant owner/operator and management company, today announced that it has signed the contracts (which are subject to audit) to acquire a majority interest in The Sanibel Restaurant Group, Inc.
Oct 12, 2004 IBAC Corporation (OTC.PK: ICAN) announced today that it has signed an agreement with SmallCapVoice.com to assist in implementing a comprehensive investor relations program for the company. SmallCapVoice.com, Inc. Stuart T. Smith, 760-643-1946 760-643-1947 (fax)
Oct 6, 2004 IBAC Corporation (OTC:PK: ICAN) has entered into a definitive letter of intent whereby IBAC will acquire a majority control interest in The Sanibel Restaurant Group, Inc. The transaction, is subject to a definitive agreement and due diligence. Closing is expected December 2004. Edward W. Hayter president and CEO of IBAC Corporation said: "we are enthusiastic about this acquisition. It is the first phase of our business plan."
Oct 5, 2004 IBAC Corporation (Pink Sheets:ICAN) today announces that a new management team has been appointed with stock ownership in the corporation and will operate a group of premier dining establishments within IBAC Corporation. Edward W. Hayter is the new president and CEO of IBAC Corporation which trades under the symbol ICAN. Mr. Hayter said: "he is enthusiastic about the future of acquisitions & mergers into the company and enhancement of shareholder value".
IBAC Corporation Investor Relations, 718-891-8188 Investorrelations@ibaccorp.com www.ibaccorp.com Posted by Mack on :
stockgirl123 it looks like u missed the boat as usual, did you have a nice swim?? i dout the sharks would eat your sorry azzzzzz!! haahahahahahahahahhhah!!!
Posted by Jonathanlb8 on :
That is alot of reading. Thanks Ric
Posted by stockguy123 on :
I think the 0003's should be back next week
Posted by Mack on :
stockgirl123 = suckerrrrrrrrrrrr!!!!!!! lol!!!!!
Posted by rickpic on :
LOL you are correct! Ed's master plan has taken lots of unfolding. It is certainly taking shape now though!
Cheer from the guy whos in at .0003 and riding higher!
Rick
Posted by rickpic on :
by the way I think I should have 5 stars after this pick!
Rick
Posted by Jonathanlb8 on :
I'll never have 5 stars again. People still despise me for being gainster.
Posted by bmaxingout on :
rickpic if you are the one that first picked ican then my hat is off to you i think that 123 should give you five stars for sure im sending you my five now Great job
Posted by Jonathanlb8 on :
How high do you guys seriously see this thing going? I'm looking for .01, anyone else have a take on it?
Posted by Jonathanlb8 on :
Ricpic, if this thing hits .01 before opening day. I'll get you some Sox tickets.
Posted by Jonathanlb8 on :
Anyone know how high MLON went before?
Posted by skipdeez on :
is .0009 still a good price to get in? anyone think that there will be a retrace tomorrow?
Posted by striper on :
i think you well be able to get in at .0008 if you wait
Posted by stockguy123 on :
Yeah, I think you can get in @0003 if you wait
Posted by Doctoall on :
quote:Originally posted by stockguy123: Yeah, I think you can get in @0003 if you wait
I think that you got burnt waiting for 0.0003 Posted by Galaxy on :
ICAN IS STOCK YEAR :-)
Posted by bmaxingout on :
Jonathanlb8 imho i think that we could see .004 before the spin off happens but its not the stock price that im truly looking for. im looking for the spin i believe that the spin is going to be worth more than the stock price its self. to be honest that is the main reason that i bought ican stock in the first place.I also think that ICAN will be doing this again and again. imho i think this is the main reason that Ed puschased 500,000,000 shares for his personal account these shares dont belong to ICAN they belong to him so he will be also recieving the spin off for his gain as well as ours as far as the closing price goes and if this is still a good time to buy in all I can tell you is that first thing in the AM i will be increasing my posistion by two fold.,,again jmho But dont tell this to 123 hes still watching the boat sail away lol
Posted by Jonathanlb8 on :
quote:Originally posted by skipdeez: is .0009 still a good price to get in? anyone think that there will be a retrace tomorrow?
If it doesn't retrace right after the bell, it might not for awhile. Alot of the other boards are going crazy over it now. I'd say the sooner the better when it comes to getting in on some of this.
Posted by rickpic on :
My feeling is that the .0009 option may be gone prior to the open today. I could be wrong, but the buying at the end of the day yesterday tells me there was a sudden rush to get in. Between the reduction in shares due to the retirement and the upcoming dividend. My guess is that this rally is far from over. Yes I see profit takers along the way, and thats ok. I concider it smart trading to have free shares in any company. When to get even is up to each and every one of us as an individual. Is ICAN worth a hell of a lot more than this price. I believe it is. Based on the math on all assets and the projected and stated revenues. I'm glad all of you who own ICAN took the oportunity to invest in it. Ed is a straight up straight forward kinda guy, who is dead set on bringing value into this company, and hes dam good at it!
Good Luck Cheers Rick
Posted by stockguy123 on :
All these pump pr's, sounds like this is another GXXL, MLON scam
Posted by Jonathanlb8 on :
If you think it's another GXXL or MLON, then take a hike. Why bother wasting your breath. No one takes you seriously anyway.
Posted by stockguy123 on :
I'll probably still buy @0002-0003 even if its a scam, it's still good for a P&D now
Posted by Jonathanlb8 on :
What, don't you understand. .0002 ain't coming around for a long time. Post next year when it goes back down to those prices.
Posted by rickpic on :
IBAC Corporation President & CEO to Be Interviewed Today by the Wall Street Reporter 3/10/2005 8:27:01 AM NEW YORK, Mar 10, 2005 (BUSINESS WIRE) -- Edward W. Hayter, President & CEO of IBAC Corporation (Pink Sheets:ICAN), has agreed to be interviewed today by The Wall Street Reporter. The interview will be conducted this afternoon at 1:30 pm (EST) and will be available to the public online at www.******************.com within five minutes of its completion.
About Wall Street Reporter
The Wall Street Reporter is a premier information source for professional investors seeking successful new investment ideas. Each day we interview CEOs of leading public companies and selected private companies. Our in-depth, unbiased, unscripted interviews deliver a first hand perspective that enables investors to make intelligent and informed investment decisions.
In 1996 our Website became the first Internet site to feature CEO interviews. Since that time we have conducted over 14,500 interviews that have been heard by million of investors worldwide.
Our strategic distribution partnership enables us to reach a broad spectrum of professional investors such as: Analysts, Portfolio Managers, Stockbrokers, Venture capitalists as well as sophisticated investors. Our subscriber list is compiled of the who's who of Wall Street, institutions such as Morgan Stanley, Merrill Lynch, UBS Paine Webber, Smith Barney, Lehman Brothers, Janus Capital Corp, Schroeder Investments Management, Putnam Investment Management, Fidelity Investments amongst many others.
The Wall Street Reporter is published in three formats. Print monthly magazine, (The Wall Street Reporter Magazine), online presence at www.******************.com and our online weekly institutional magazine.
About IBAC Corporation
IBAC Corporation is a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group/National Hospitality Management Service/The Royal Entertainment Group and The Royal Arkansas Hotel & Suites, IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward-Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the hospitality/entertainment industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Copyright Business Wire 2005
Posted by Doctoall on :
quote:Originally posted by stockguy123: All these pump pr's, sounds like this is another GXXL, MLON scam
Just so that you know GXXL paid out its divy yesterday So it would appear that you are right about nothing Posted by NomarKash on :
If we stop responding to Stockguy he will leave. Let's just ignore him. My 2 cents.
Posted by stockguy123 on :
Just like a said, another p&d pr today. Why do they keep sending out pr's that say the samething over and over again ? That is a sure sign of a possible scam. The SEC will be checking into this 1 soon.
Posted by tntrader on :
I agree
Posted by tntrader on :
I put him on my ignore list. Works well...
Posted by stockguy123 on :
5-6 p&d pr's already this week ? This 1 really is starting to stink big time.
Posted by scoopman on :
I'm beginning to enjoy the PR's coming from stockguy123. All HIS ICAN PR's say the same two things. ".0002-.0003 coming this week, sounds like a scam to me."
The constant pessimism is starting to get amusing. I am still waiting on you to give some hotpicks from your portfolio. I would rather here some of those than the non-stop ICAN warnings.
Posted by Leardron on :
quote:Originally posted by stockguy123: Just like a said, another p&d pr today. Why do they keep sending out pr's that say the samething over and over again ? That is a sure sign of a possible scam. The SEC will be checking into this 1 soon.
Yea, stockguy. If this is a scam Ed must be the stupidest scam artist in the world. He is going to do an interview on a publication that will put ICAN in the lime light and under heavy scrutiny from the investment community. Yea that's the way to do a scam, lol. You've got to be kidding me.
Posted by Jonathanlb8 on :
There's the .001 I was looking for. Lets shoot for .002 now
Posted by Jonathanlb8 on :
Pretty much all buys so far. This thing is really heating up. Thanks again stockguy!
Posted by stockguy123 on :
No problem, don't forget to take your profits.
Posted by dellamorte dellamore on :
I had my momentary doubts also , but Lear , Ric and some of the others woke me up , this guy ED isn't screwing around , and Melon shouldn't even be mentioned in the same sentence as Ican . Maybe a pinkie can be for real , and Ican is one of them .
Posted by JimMeredith on :
I'm in for the ride.
Posted by Leardron on :
quote:Originally posted by JimMeredith: I'm in for the ride.
Welcome aboard! Posted by Mack on :
stockgirl123 i think you need to invest in a life preserver because im sure u will miss thousands of boats!!!!!!
Posted by justplayin on :
Share Buybacks vs. Share Retirements Share buyback is a company's repurchase of shares that the company has previously issued. This action reduces the number of shares outstanding. This move usually is an optomistic sign because management believes that the share price is undervalued and sees good use in putting cash to work, increasing mangement control in the company to prevent a buyout, or trying to raise their earnings per share number. Now, a share retirement runs along the same lines, except that the company intends to re-issue the shares later on.
Posted by bmaxingout on :
to help back up 123 i would say that sometime after the spin off the share price will drop down some but the days of .0001-.0003 are gone forever 123 im throwing you a life line grab on and save your sorry self lol
Posted by dellamorte dellamore on :
Ah , he's good for a laugh , i think his posts are enjoyable , and the response to them hilarious . Please don't go Stock , we need comic relief .
Posted by ARI on :
Does anybody know if the interview will be eastern time or pacific today?
Posted by ARI on :
never mind just found it ...EST
Posted by stockguy123 on :
I think 0002 is a good entry point, should be able to make 50-100% based on the number of p&d pr's
Posted by USF11 on :
www.ibcradio.com is getting a crazy amount of calls saying this is going to run hard after the interview. Claims the company believes its being shorted and with the share retirement this company should be worth .03-.05 cents.
IBAC Corporation Subsidiary National Hospitality Management Services Reports Successful Event
PINE BLUFF, Ark., Mar 10, 2005 (BUSINESS WIRE) -- IBAC Corporation (PINK SHEETS:ICAN), a leading food & beverage/restaurant/hotel/entertainment company today announced that its subsidiary National Hospitality Management Services Group has successfully completed its first event under their new contract for the concessions at The Pine Bluff Convention Center. The company's first event under its new contract with the convention center was The Arkansas State High School Basketball Finals and resulted in revenue to the company for this first event of over $22,000.00.
The company's affiliated/sister company Royal Entertainment Group has executed its first contract for an event in the convention center; it will be a concert in the auditorium by the legendary Ashford & Simpson. The company plans on promoting many events to increase traffic and revenues to the complex.
"We are very pleased with this exciting opportunity for increasing revenues to the company and are in the process of negotiating many concerts, theatrical shows and other events." Said Gary Becker President National Hospitality Management Services.
About IBAC Corporation: (PINK SHEETS:ICAN). IBAC Corporation, a food and beverage services/restaurant holding company based in New York, N.Y. Operating through its subsidiaries, The Sanibel Restaurant Group and National Hospitality Management Services, The Royal Arkansas Hotel & Suites & Royal Entertainment Group IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
About the Industry: The restaurant/food and beverage services market represents more than $350 billion in the U.S. with growth rates expected of 4.8 percent to 5.2 percent within the next year.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: IBAC Corporation
--------------------------------------- more good news....
Posted by Leardron on :
Excellent news. I just heard that the interview will be available at about 2pm. Someone on Paltalk called ******************s and that is what they said.
Posted by ARI on :
they have posted it but when I click on it an error message comes up......WTF
Posted by tntrader on :
Good news!
Posted by Leardron on :
quote:Originally posted by ARI: they have posted it but when I click on it an error message comes up......WTF
They probably posted the link but it still isn't uploaded yet. They said 2pm. I would give it about 5 min.
Posted by ARI on :
Having puter probs... if anyone can give me the cliff notes of the interview it would be appreciated...
Posted by USF11 on :
The jist of the interview is planned expansion and 100 million is revenues in the next 1-3 years.
Posted by stockguy123 on :
I just heard the interview, now I do think i'll get a fill @0002-0003 soon. MM's are going to kill this one, no one wants to wait 3 years on these penny stocks. You better take your gain, if you have any, before its to late
Posted by makemoney3 on :
Piss on you stockguy.
Posted by Leardron on :
Good interview for investors looking at ICAN but not much more news for we holders that have been following this. He did mention 2 more Hotels they negotiating with. One in Tuskeny Italy and the other in Detriot. Also is in early stages with several small restaurant chains to add to the Sanibel Group.
Posted by tntrader on :
Tuscany, sorry, I had too Posted by Leardron on :
quote:Originally posted by tntrader: Tuscany, sorry, I had too
Thanks, I wasn't too sure with the spelling Posted by tntrader on :
No problem! Beautiful place Posted by USF11 on :
Intresting close today notice all the 9 mil share blocks towards the end of the day
quote:Originally posted by stockguy123: I just heard the interview, now I do think i'll get a fill @0002-0003 soon. MM's are going to kill this one, no one wants to wait 3 years on these penny stocks. You better take your gain, if you have any, before its to late
Geez I am suprised that the "Little Yellow Bus" has brought you home from school so early. ICAN is gonna fly and your will still be sitting on the little yellow bus Posted by Leardron on :
quote:Originally posted by USF11: Intresting close today notice all the 9 mil share blocks towards the end of the day
Yea, I saw all of those going through. Could be the interview go some attention from the big boys, who knows. We'll have to see how it goes tomorrow.
Posted by stockguy123 on :
Doc, you don't have to start the insults just because you're losing money.
Posted by homer_0 on :
I've been in this one for a while now, and I just now have seen a slight gain. I'm still hoping it goes up more. The news seems really good. Hope my patience pays off! LOL
Posted by dellamorte dellamore on :
This thread is turning into quite the ribtickler . Some of these comments by Stock and the others laying insults are more funny than most standup comedians , i especially enjoy the little yellow school bus one , that one really had me in stitches , keep up the good work .
Think it's time for all involved to form a comedy troupe , you def have the talent for it . Anytime i have a bad day with the stocks , i can always count on this thread to give me some nice chuckles .
Seriously though Ican is turning out to be quite a story , i'm excited to be in on it , but there is always that chance it can turn out to be bogus , so i'm still not totally sold , at this point i'm pleasantly surprised .
Posted by Doctoall on :
quote:Originally posted by stockguy123: Doc, you don't have to start the insults just because you're losing money.
Buddy I am not loosing money actually I have made money on this stock and playing with free shares. I am not sure what you are playing with but for sure you don't know what you are talking about. Posted by Doctoall on :
Mack, Dellamorte, and makemoney you need some stars, maybe real soon:) and you to Jim
Posted by Doctoall on :
Green, Green, Green And its only going to get greener!!!
Posted by stockguy123 on :
I deserve 10 stars, everyone wants my opinion.
Posted by Doctoall on :
quote:Originally posted by stockguy123: I deserve 10 stars, everyone wants my opinion.
Sure they do,just like everyone would want a bad case of diarrhea "NOT" At least we could get rid of that, not like you.
Posted by stockguy123 on :
Doc is jealous, my opinions are in demand, his are considered worthless.
Posted by Mack on :
stockgirl123---speaking of diarrea of the mouth are u still taking your double dose of enimas daily!!!! lol---also usci is calling your name its still@.0001 and i know your all over that or are you praying that it drops lower ahahhahaha!!!
Posted by Rich735 on :
IBAC Corporation to Retire an Additional Four Billion Common Shares
March 10, 2005 18:25:01 (ET)
NEW YORK, Mar 10, 2005 (BUSINESS WIRE) -- IBAC Corporation, (Pink Sheets: ICAN) announced today that it will seek to retire an additional Four Billion shares of common stock.
IBAC Corporations board of directors has agreed to retire an additional Four Billion ICAN shares to the treasury. The 4,000,000,000 shares are ICAN common stock, this in conjunction with the Six Billion shares to be retired by the personal shares of Edward W. Hayter President & CEO will decrease the authorized common stock by 50 percent and is subject to all SEC and regulatory statues.
"This non-dilutive measure will bring an increased value to our shareholders," said Edward W Hayter. President & CEO "We continue to negotiate and put contracts into place to ensure longevity of revenues for our company and, as this occurs, we will take steps to bring further value to our shareholders."
This measure is taking place to position the company for the eventual sale or merger of one or more of its subsidiaries to a fully reporting/trading otcbb company.
About IBAC Corporation
IBAC Corporation, a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group / National Hospitality Management Service/ The Royal Entertainment Group and The Royal Arkansas Hotel & Suites IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: IBAC Corporation
Posted by dellamorte dellamore on :
This damn thread is taking over my life with it's entertainment value . Freak Seinfeld , this is the place to come for all you're comic needs . Please , don't let up.
And Doc , thank you for the star recommendation , but seriously , right now , i don't deserve any yet . When i pick a nice runner , i'll be more than happy to take one , as it is now , i'm just along for the ride .
Posted by Mack on :
the more news comes out on ICAN the lower stockgirl123 sinks in his pittiful,lackless existance
Posted by ARI on :
So the new O/S is 10b correct? That is alot better than 20b....
Posted by rickpic on :
CEO holds a min. of 51% and this drasticly reduces the max issueable shares! Some buyers base share value on A/S divided by assets and revenue. This move now doubles that value!
Good Luck Cheer Rick
Posted by stockguy123 on :
Do you people really believe these never ending p&d pr's ? Don't you know something must be wrong? How many pump pr's do we have this week, I lost count, this is total BS. The SEC will get involved, just watch and learn. Meantime, I'll consider buying @0001. This POS is a JOKE.
Posted by Doctoall on :
quote:Originally posted by stockguy123: Do you people really believe these never ending p&d pr's ? Don't you know something must be wrong? How many pump pr's do we have this week, I lost count, this is total BS. The SEC will get involved, just watch and learn. Meantime, I'll consider buying @0001. This POS is a JOKE.
Stock you are wrong again, see "you" are the joke How was your bus ride home??
Posted by bmaxingout on :
dellamore, im with you, this is some of the funniest posts that ive read in a long .I think that we can all thank 123 for this . hopefully he's not for real. because i would hate to think that anyone could could be this wrong for this long,lol,.. keep up the good work on your DD 123
Posted by bmaxingout on :
by the way 123 im just messing with ya .0001 your a funny guy lmao
Posted by Forrestgump on :
Hope to see you all there.
Posted by Jonathanlb8 on :
Anyone else see this as the stock of the year so far?
Already up 300%
Posted by Leardron on :
quote:Originally posted by ARI: So the new O/S is 10b correct? That is alot better than 20b....
Actually that means the Authorized shares are going to be 10 Billion but the O/S is still only 1.3 Billion correct?
Posted by Jonathanlb8 on :
Correct.
Posted by Leardron on :
quote:Originally posted by Jonathanlb8: Correct.
I think the reason he is doing this is to help stop the MMs from naked shorting this stock. Correct me if I am wrong but I have been told that the MMs naked short based on the Authorized shares (basically trading shares that aren't even issued). By lowering the Authorized shares that makes their supposed pool even less.
Posted by travler122 on :
has everyone seen this?
IBAC Corporation to Retire an Additional Four Billion Common Shares
March 10, 2005 18:25:01 (ET)
NEW YORK, Mar 10, 2005 (BUSINESS WIRE) -- IBAC Corporation, (Pink Sheets: ICAN) announced today that it will seek to retire an additional Four Billion shares of common stock.
IBAC Corporations board of directors has agreed to retire an additional Four Billion ICAN shares to the treasury. The 4,000,000,000 shares are ICAN common stock, this in conjunction with the Six Billion shares to be retired by the personal shares of Edward W. Hayter President & CEO will decrease the authorized common stock by 50 percent and is subject to all SEC and regulatory statues.
"This non-dilutive measure will bring an increased value to our shareholders," said Edward W Hayter. President & CEO "We continue to negotiate and put contracts into place to ensure longevity of revenues for our company and, as this occurs, we will take steps to bring further value to our shareholders."
This measure is taking place to position the company for the eventual sale or merger of one or more of its subsidiaries to a fully reporting/trading otcbb company.
About IBAC Corporation
IBAC Corporation, a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group / National Hospitality Management Service/ The Royal Entertainment Group and The Royal Arkansas Hotel & Suites IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: IBAC Corporation
IBAC Corporation
Posted by Leardron on :
sure did traveler. It was posted a little earlier. More great news!
Posted by d6veteran on :
shhhhhhh Posted by rickpic on :
d6 sorry but its all over the net already!
Good Luck in the AM though!
Rick
Posted by rickpic on :
ICAN is up to #8 on PINK Sheets 100 list and moving up!
Rick
Posted by rickpic on :
During todays interview with Wall St. Reporter, ICAN CEO Ed Hayter announced negotiations with several restauraunt chains to further expand the Sanibel name and revenues.
Also announced during the interview was ongoing negotiations with two hotels. One in Detroit and one in Tuscany,Italy.
An estimated growth projection of $100 million in annual capitol over 3 yrs was also stated.
Cheers Rick
Posted by Forrestgump on :
FROM RB. VERY INTERESTING TO READ....
By: stervc 11 Mar 2005, 01:15 AM EST Msg. 12364 of 12399 Jump to msg. # With the ICAN 4 Billion Shares to Retire PR...
Those 4,000,000,000 shares are common shares that are being reduced from the 20,000,000,000 shares within the Authorized Shares (AS) from the Treasury.
Those 6,000,000,000 shares are common shares that are being reduced from the 7,338,015,586 shares within the Outstanding Shares (OS) for a new total of 1,338,015,586 shares.
That's a total of 10,000,000,000 shares retired to cease to exist from the AS to reduce the AS from 20,000,000,000 shares to the stated 50% reduction to equate to ICAN’s new AS of 10,000,000,000 shares.
Old Share Structure: AS = 20,000,000,000 shares OS = 7,338,015,586 shares
New Share Structure AS = 10,000,000,000 shares OS = 1,338,015,586 shares
This enhances ICAN’s value by 5.48 times its original amount to not include the free trading unrestricted OTCBB dividend as derived by below:
7,338,015,586 ÷ 1,338,015,586 = 5.48 times greater
That could mean that theoretically, ICAN should now be trading at a minimum of 5.48 times its current price for starters:
.0009 x 5.48 = .004932 cents
This is before any news of our free trading unrestricted OTCBB dividend. Keep in mind too that our original amount of shares that we are to receive from this dividend increases by 5.48 shares from our original amount.
For a further understanding, there are 2 ways to retire shares which generates to 2 different types of repercussions. You can retire shares that have either been bought back or taken from a restricted shareholder’s position.
You can then retire the shares back to the Treasury or you can retire shares to where they cease to exist completely reducing and removing them from the Treasury. Retiring them to where they cease to exist is when they are eliminated from the AS to be treated as if they never existed. This is what ICAN is doing. Please read and DD the links below from some share retirement examples:
Let’s go one step further. Let’s say that I am wrong in my thoughts above. That would only mean that the OS was 11,338,015,586 shares and not 7,338,015,586 shares. Still, the bottom line figures from what Mr. Hayter is currently doing would remain the same and would still be as indicated below:
New AS = 10,000,000,000 shares New OS = 1,338,015,586 shares Share Buyback Program = 500,000,000 shares
Float Potentially Available = 1,338,015,586 - 500,000,000 = 838,015,586 shares
In my opinion, the Float has been gone for a while. The MMs need our shares to establish an inventory of ICAN shares to maintain an orderly market. I expect to see sharper price increases as the demand for ICAN shares continue to increase. These are only thoughts as to how I see things.
PS-The free trading OTCBB dividend that ICAN will be giving us will have the same effects as a cash dividend as I will explain later when I have more time. ICAN might turn out being bigger than we all had thought.
Phew , this share stuff is flying over my head , but i'll think in dummy terms , less shares on the market equals increased stock value .
Posted by stockguy123 on :
Float gone ? What a scam joke, watch the dump today.
Posted by dinger51 on :
Good morning and still lurking. Still in at .0003 Not a ton, but 790,000 shares isn't too shabby. BTW, 123 is pretty funny. Don't stop posting either 123. It adds quite a bit of laughter to my day.
I think ICAN
Posted by dinger51 on :
2 mil before thte bell???????? Hope we can cover the early morning jump before noon.
Posted by tntrader on :
How can someone buy before the bell?
Posted by stockguy123 on :
Do you think these guys might issue another 5-6 p&d pr's today ? I'm sure they already set a new weekly record for the number of p&d pr's. I thought the MLON scam was bad, this 1 looks like it might be worse. SEC halt might happen anytime.
Posted by ARI on :
IBAC Corporation Reduces Authorized Common Shares
NEW YORK, Mar 11, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:ICAN) announced today that it will reduce the company's authorized shares to 10 Billion. IBAC Corporation's board of directors has agreed to reduce the authorized common stock from 20 Billion Shares to 10 Billion Shares. The 10 Billion Shares are ICAN common stock; and are subject to all SEC and regulatory statutes.
Mr. Edward W Hayter is continuing to purchase up to 500 Million shares of the company's common stock on the open market for his personal portfolio.
"This non-dilutive measure will bring an increased value to our shareholders," said Edward W Hayter, President & CEO.
This measure is taking place to position the company for the eventual sale or merger of one or more of its subsidiaries to a fully reporting/trading otcbb company.
About IBAC Corporation
IBAC Corporation, a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group/National Hospitality Management Service/The Royal Entertainment Group and The Royal Arkansas Hotel & Suites, IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward-Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: IBAC Corporation
Posted by stockguy123 on :
Well, it took that long to get 1 p&d pr today. Nice these guys keep repeating the same info. People must be getting tired of this BS by now
Posted by Doctoall on :
quote:Originally posted by stockguy123: Well, it took that long to get 1 p&d pr today. Nice these guys keep repeating the same info. People must be getting tired of this BS by now
The only BS that we are getting tired of is your useless posts. Did you miss the "Little Yellow Bus" today? You are so "Speciaaaal" I bet you have been told that alot. Posted by stockguy123 on :
Doc, still crying about losing your money sucker ?
Posted by Rags2BetahRags on :
quote:Originally posted by stockguy123: Do you think these guys might issue another 5-6 p&d pr's today ? I'm sure they already set a new weekly record for the number of p&d pr's. I thought the MLON scam was bad, this 1 looks like it might be worse. SEC halt might happen anytime.
Im stuck on stockgirl stockgirl stuck on you.......sung to the commercial tunes of Band aids!!
Stockgirl needs to shake it up a bit to move the squirrel over a notch. The record is stuck and everything seems to be repeating......Its a shame to be stuck on stupid. You poor thing!!! Even more poor, now with ICAN GOING UP!!
Posted by Doctoall on :
quote:Originally posted by stockguy123: Doc, still crying about losing your money sucker ?
I have not lost any money, I have made money and actually I am thinking about getting you some help to buy your Prozac.
Now get back on the "Little Yellow Bus" like a good boy Posted by Doctoall on :
quote:Originally posted by stockguy123: Doc, sure you did. No one believes you, we know you're a loser.
Frankly I do not care what you believe, but for sure we all know that you are a total idiot Posted by Doctoall on :
quote:Originally posted by stockguy123: Doc, I'm just saying what I heard about you. Don't get mad, its ok if you're a loser. Its your life, you shouldn't care what others think of you. Good luck trying to make up your loss. Let me know if you need my advice.
It would appear that you need my advice. You should grease your body with Prep "H" and then lay out in the sun, I hear that it does wonders to shrink hemorroids, so if we get real lucky you will disappear Posted by stockguy123 on :
Doc, I know you're mad about being a loser. You can keep insulting me if it helps you feel better about your mental and financial condition. Keep an eye open for my opinions, they are in great demand.
Posted by tntrader on :
Looks like someone got under stockgirl's skin... LOL
Posted by Jonathanlb8 on :
I made money today, just buy setting my buys low. I just bought another 2 mil at .0007 and .0008. I love this stock!
Posted by Jonathanlb8 on :
Might see some .002's fill next week. MM's due to make this powerhouse move up!
Posted by Doctoall on :
quote:Originally posted by stockguy123: Might see some 0002 fills next week. MM's due to take this POS down.
Your postings are beginning to look like a guy by the name of ghosty, and you know what he went bye bye Posted by justplayin on :
Justplayin, thanks for the great post, sounds like someone I see posting on this thread no substance. Posted by ARI on :
stock guy what are your motives. Is this all out of sincere worry for other investors? Or do you have more vicious intent? The personal attacks should stop. Not only the ones that you have made against others but the ones that have been made on you. We are all adults here. Allstocks is supposed to be one of the boards where this type of thing is frowned upon. If you want to fight with others there are plenty of other boards out there to do so. Please, to all, don't attack me now. This is simply all just my feelings. I truly believe that if we all work together it will benifit all involved........
Posted by ARI on :
To all have a nice weekend and relaxxxxxx....
Posted by justplayin on :
Your welcome Doc. I truely believe we should all load up on DD and just ignore those with usless opinions. I would love to hear from those who have INFORMATION even if it may appear to be negative. It is all part of DD.
GLTA
Posted by Doctoall on :
quote:Originally posted by justplayin: Your welcome Doc. I truely believe we should all load up on DD and just ignore those with usless opinions. I would love to hear from those who have INFORMATION even if it may appear to be negative. It is all part of DD.
GLTA
No matter what other say, I have made some bank on this stock. I bought at 0.0002 and sold at 0.0009 and bought back in waiting for the run yet to come. The stock market is a hobby for me, I do not rely on it for a living, just a hobby. Getting information is great but useless post are not worth the space that they take up on this thread.
Posted by justplayin on :
Doc, I just noticed that the posts by someone here are EXTREMLY similar to those posted on Ragingbullcrap message board under the name of "Santatips".
Hmmmm.....
Posted by Doctoall on :
quote:Originally posted by justplayin: Doc, I just noticed that the posts by someone here are EXTREMLY similar to those posted on Ragingbullcrap message board under the name of "Santatips".
Hmmmm.....
Also a guy named Ghosty who got banned about a month ago.
Posted by USF11 on :
I gonna go out on a giant limb and say that ICAN's pps will be higher then QBID's at somepoint next week. I will inturn sell my ICAN shares and put half that money back into QBID. Ed Hayter the CEO of ICAN will be on stocktalklive on tuesday. Once he clears up why the tranfer agent is gagged and the exact share structure this one should break .001 and where it stops nobody knows.
Posted by homer_0 on :
Ok, I'm not one to post here much, but I read constantly throughout the day. But Stockguy, you seriously need to stop already, you're being childish, and thats sad, since this is coming from an 18 year old. You have been saying that its going to hit .0003 or .0002 for as long as I have had this stock, which is almost about a month or so. Sure, it has had its ups and downs, but what stock doesnt? I believe that ICAN has great potential to gain, which is why I'm holding what little shares I could afford when I bought them. Have I lost? Yes, in the past I have lost w/ this stock, but now I am seeing as most people here say "GREEN " lol. So unless you have facts to back this up, just chill out w/ the bashing. I still want to know why you care so much about people investing in this stock? It is our money, and it is our decision. I still think, that even if YOU get in now, you'd still get in at a good price. Thats all, I'm done w/ my rant. Still holding ICAN!
Posted by homer_0 on :
Wow, I didn't know I had 4 stars. lol
Posted by homer_0 on :
Don't know if any of you have seen this, but if you havent, here it is!
NEW YORK--(BUSINESS WIRE)--March 11, 2005--IBAC Corporation (Pink Sheets:ICAN - News) announced today that it will reduce the company's authorized shares to 10 Billion.
IBAC Corporation's board of directors has agreed to reduce the authorized common stock from 20 Billion Shares to 10 Billion Shares. The 10 Billion Shares are ICAN common stock; and are subject to all SEC and regulatory statutes.
Mr. Edward W Hayter is continuing to purchase up to 500 Million shares of the company's common stock on the open market for his personal portfolio.
"This non-dilutive measure will bring an increased value to our shareholders," said Edward W Hayter, President & CEO.
This measure is taking place to position the company for the eventual sale or merger of one or more of its subsidiaries to a fully reporting/trading otcbb company.
Posted by bmaxingout on :
hey everyone, today while making money on ICAN it finaly occured to what 123's problem is. poor son of a gun took this one short hahahah
Posted by Forrestgump on :
RIC or anybody. Looking back at the pps in the last year, what made ICAN run to .16 in 04? Do you see it running past .01-.03 in the next 2-3 months? If so, why?
Posted by Ric on :
Well, the reason it ran at that time was Hayter just took over as company president and they anounced the intent to acquire a majority control interest in The Sanibel Restaurant Group, Inc. Now will it do it again, no, but there is a qualifier to that statement. ICAN.pk probably will not come close to that any time soon because its spinning off the asset that got it to that point to begin with. But the good thing is you get dividends in the new otc bb company that its spinning off to. Now can that company run should be the question. And that all depends on the o/s of new company and ratio of shares the investors get compared to the insiders. With low float means insiders are getting even more shares in the new company. So its a wait and see but good potiential.
Ric
quote:Originally posted by EDDIE138301: RIC or anybody. Looking back at the pps in the last year, what made ICAN run to .16 in 04? Do you see it running past .01-.03 in the next 2-3 months? If so, why?
Posted by stockguy123 on :
Why you guys mad just because I want to buy @0002. It has happen before, not long ago, and can happen again. Quit believing all the pumps, buy low and sell high. How is that for a great idea ? By the way, Doc started the insults, go back and read the posts. Anytime he wants to stop I'll be glad to do so.
Posted by bmaxingout on :
123 I dont think that anyone is mad at you but it does seem like you might be nothing but a basher if your intent is just to bash this stock down then this is not the right board to do it on. i dont beleive that bashing without DD to back it up is constructive if you really think that this is going down the toilet then come up with something to back up your opinoins.its really that simple.the main reason that i come to the boards is to find out if someone was able to come up with some thing that I might have missed if i were to find out something weather it is good news or bad I will be sure to post it. If we can have a little fun with each other in the mean while all the better. and really just between you and I did you short this one ,....lol
good luck and remember, have fun and the money will follow
Posted by rickpic on :
3/11/05 IBCS Radio announced on the air that ICAN, CEO Ed Hayter will be doing a live radio interview with them on Tuesday 3/15/05 at 1:30 EST. Go to http://www.ibcradio.com/CMN.htm to listen in.
Cheers Rick
Posted by Forrestgump on :
IBAC Corporation Subsidiary The Sanibel Restaurant Group Sets Closing Date for Bonita Springs Saturday March 12, 12:27 pm ET
FT. MEYERS, Fla.--(BUSINESS WIRE)--March 12, 2005--The Sanibel Restaurant Group, a subsidiary of IBAC Corporation (Pink Sheets:ICAN - News), announced today that it has scheduled the closing of phase two of the Sanibel Steakhouse contract as previously announced.
The second phase of the Sanibel Steakhouse contracted acquisition (Bonita Springs) is expected to be completed on or before April 15, 2005 of which will add another $2,800,000 to $3,000,000 in revenues per annum and 40 additional employees to the company, with the third and final phase of the contract being completed on or before July 30, 2005 adding an additional $3,800,000 to 4,000,000 per annum in revenue and 50 additional employees, total value of the completed Sanibel Steakhouse contracted acquisition for the company will be revenue of $9,100,000 to $10,000,000 per annum with 135 employees subject to audit by the company's auditors.
"This completed acquisition will add $2,800,000 to $3,000,000 in revenues annually to the company and 40 employees immediately, the company has taken possession of the phase one Ft Meyers property as owner/operator as of January 4, 2005." said Karl Wenzel, president of The Sanibel Restaurant Group.
"We are very excited about the company's ability to maintain its contracted schedule as this will immediately add significant revenue to the company. The company continues to review further acquisitions and other opportunities to increase revenues and shareholder value. We would like to thank all of our shareholders for their suggestions and support as we continue to build our company, we would also like to thank Mr. Wenzel and Mr. Becker for the suburb performance as heads of their respected subsidiaries." said Edward W Hayter President & CEO of IBAC Corporation
About IBAC Corporation: (Pink Sheets:ICAN - News). IBAC Corporation, through its operating subsidiaries, IBAC Corporation owns/operates The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/The Royal Entertainment Group a company based in New York, IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
About the Industry: The restaurant market represents more than $350 billion in the U.S. with growth rates expected of 4.8 percent to 5.2 percent within the next year.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. Contact:
Source: IBAC Corporation
Posted by Forrestgump on :
By: stervc 12 Mar 2005, 02:34 AM EST Msg. 171984 of 172211 (This msg. is a reply to 171973 by rocko183.) Jump to msg. # Rocko, Important with ICAN...
They are not stalling. Ed, the CEO, is waiting to get the details from his lawyer as they are at the mercy of certain coordination to be returned to them from I believe the NASD officials. Ed is trying to make this execute a lot sooner than what people think they have time for.
To make this happen, it's about a 3 or 4 part coordination phase that must be gone through. I'm a little rusty on all of the details, but keep in mind that this dividend that ICAN is giving us is not a dividend of restricted shares.
This is a dividend that will be free trading shares which would have the same effects as a cash dividend because the MMs will have to convert the shares into cash as they are sold. Not masking of any naked shorted shares can't transpire because of the option to immediately convert over into cash.
The CEO is saying that he is going to give us free trading shares of a fully reporting OTCBB stock that will have valuation placed in it and anticipates to be trading at $2.00 per share.
If I had to guess, I am looking at a ratio in the neighborhood of 100 to 1. Even if you create an unrealistic worse case scenario and use a 1,000 to 1 ratio, you would still see mathematically that you would get a premium somewhere in the area above 100% return on your investment. I'll reflect more thoughts later in an ICAN post that I think I need to make to help people see this.
I know it sounds kind of MLON-ish, but there are some big differences between ICAN and MLON. If the SEC knocked on Ed's door, he could prove everything he is saying in any PR. Also, others have already been to his Convention Center, hotels, and restaurants to see how ICAN is profitable. ICAN has proven businesses that are generating revenues. MLON has nothing for generating revenue. I'm not bashing MLON, because it was a good trade and I respect that, but I'm only using it as an example since many are familiar with it.
Now throw in retiring of shares. Yes, there is a gag order on the TA and that is not a good thing. Ed is going to eventually remove it. As which is out of the norm I must admit, when the gag order is released, everyone will be very surprised to see what our new share structure in ICAN will be from Ed retiring shares from the OS and the Treasury/Authorized.
All of this hush hush stuff from CEOs and keeping shareholders in the dark has played out. I am happy about Ed's excitement and him wanting to tell the world about ICAN.
Ed is a CEO that is excited about his company and he should be. Think about it for a second. If you were not excited about your own company, how could you expect for anybody else to be? If you had something that you believed in your heart was so good that you wanted to tell the world, why wouldn't you? Granted, there is a way to do it and I think Ed is doing a fine job.
As a shareholder, I would rather want to be informed than not informed any day of the week.
Heck, I’m excited about ICAN and I have been trying to not show it too much, but it’s starting to get difficult as I do more DD on the facts and the potential considering how significantly undervalued it still is. Heck, there’s more to ponder on with ICAN that I will post later.
Solid PR based on business plan. No more word that said all.
Posted by USF11 on :
Ah crap don't tell me friggin sterling is now pumping this stock.
Posted by bmaxingout on :
can anyone tell me if you have heard any new news about ICAN becoming full reporting I would love to see a fully audited balance sheet. I sat in on some of talks that Ed has had recently and cant seem to remember him addressing this question.So all I really have is the pr's and the website any info would be great.
Posted by foxtrot6 on :
I have been reading till im crosseyed here. can someone point me in the direction of this info.
ICAN.pk probably will not come close to that any time soon because its spinning off the asset that got it to that point to begin with. But the good thing is you get dividends in the new otc bb company that its spinning off to. Now can that company run should be the question
Posted by B on :
Do you know what otc bb company the spin off will goto?
Posted by rickpic on :
Wow is all I can say!! Ed even puts out great PRs on the weekend! The guys a workaholic! Gotta like it. Its all coming together and in a timely manner.
Cheers Rick
Posted by bmaxingout on :
Dated Jan 4 2005 Through its operating companies, IBAC Corporation owns/operates and manages restaurants & food and beverage service contracts; the company intends to become a fully reporting company by the end of the second quarter of 2005 with a balance sheet directed towards the nasdaq small cap.
just needed to dig deep deeper
Posted by Leardron on :
quote:Originally posted by bmaxingout: Dated Jan 4 2005 Through its operating companies, IBAC Corporation owns/operates and manages restaurants & food and beverage service contracts; the company intends to become a fully reporting company by the end of the second quarter of 2005 with a balance sheet directed towards the nasdaq small cap.
just needed to dig deep deeper
Yes as well as he talked about the spinoff in all 3 of his interviews.
Posted by rickpic on :
is this what your looking for?
Feb 16, 2005 IBAC Corp announces that it has agreed in principle to spin off some or all of its assets to an otcbb company subject to all regulatory approvals & SEC filing requirements.
"The spin off of assets should result in a premium to shareholders (to be determined) once the transaction is completed. The terms and conditions of the spin off will be made public upon completion of agreements along with the otcbb company and symbol. The company intends to execute this agreement as a stock dividend with free trading shares of a fully reporting OTCBB company to ICAN shareholders with the effective date to be announced in the near future. The agreement is subject to completion of audited financials of IBAC's assets and all SEC requirements. " Said Edward W Hayter President & CEO
Posted by rickpic on :
My guess is that Ed will want to complete the audit and the Dividend prior to the next Sanibel acquisition so as not to add to the papers needed to file. That would put the time frame for the Div. between now and 4/15
Cheers Rick
Posted by bmaxingout on :
rickpic i to am expecting that the new otcb will be fully reporting what im intrested in is Ican itself I would really like to see the balance sheet for this company. or atleast the date that ican will be fully reporting
by the way rick i find that your posts have been the most help in finding info about ican keep up the good work and thanks for starting this post five stars to you
Posted by noah129 on :
hi all,
im new to this board but have been reading it for a few months now. i hate to say it but it has happened again for me i have fallen in love with yet another stock. and it almost seems ironic that the ticker symbol is ican. all the fundamental news this company has been putting out has been pretty inspiring to me as a small time investor. ill just publicly state that when i invest in any pink sheet stock i am fully prepared to lose everything! but obviously i feel the risk is well worth the potential reward.it seems so simple to me and i am honestly a little flabbergasted at the reaction i get from people when i tell them im into micro penny stocks. they immediately think your a dreamer " you might as well just give your money away" is the response i have heard at times.but from my point of view why not give yourself the oppurtunity to possible retire early or if your already retired then live like a king/queen or just be an increadiblY wealthy kind person or whatever floats your boat.micro penny stocks is the closest thing i have found in terms of a real possible chance at becoming wealthy without putting out that much risk.i have played and still play stock options and stocks in general but its the volatility of these micro's that inspires me and keeps my dream alive of doing whatever i please.i just look back at stocks like qbid a year or so ago and according to my charts that stock went from the dreaded .0001 to .028. wowowowow now according to my calculations every hundred invested at those basement levels could have potentially returned 28,000$$$.how many people do you know who think they are so smart becuase they dont play penny stocks and they spend as another poster suggested a few hundred dollars a month on coffee.well i know i have been rambling on for sometime now but i love this board i love all posts good and bad and I LOVE ICAN. GOOD LUCK TO ALL SINCERELY NOAH
Posted by bmaxingout on :
welcome aboard noah129 i agree with you micro could mean mega
Posted by Rags2BetahRags on :
Is there any news about WHEN the newly planned steakhouses will open? Are they presently seeking more hotels and are they all aiming at the south east section of the USA? Are the bookings they are booking for entertainment in the convention centre where the patrons of such events would be utilizing the hotels and the newly placed steakhouse? Are there theme rooms in the hotel for such adventourous people to getaway for a honeymoon in say a bed in the shape of a 55T-Bird and all fianatical in that sense for a room as some hotels are doing for more diversification from within??
Posted by Jonathanlb8 on :
We almost have more posts then the QBID post, and we haven't even had the huge run that is expected yet. This is awesome!!!!!!!!
Posted by foxtrot6 on :
yes that helps, thanks Ric
Posted by rickpic on :
quote:Originally posted by Rags2BetahRags: Is there any news about WHEN the newly planned steakhouses will open? Are they presently seeking more hotels and are they all aiming at the south east section of the USA? Are the bookings they are booking for entertainment in the convention centre where the patrons of such events would be utilizing the hotels and the newly placed steakhouse? Are there theme rooms in the hotel for such adventourous people to getaway for a honeymoon in say a bed in the shape of a 55T-Bird and all fianatical in that sense for a room as some hotels are doing for more diversification from within??
the dates for the acquisition closing was put out today. They are 4/15 and 7/30 Both of these Sanibels are already open and profitable. The projected revs are $9-10 million per year for the two of them. Im not sure about the theamed rooms, but the concert bookings are for the Convention Center and will add revs to the Hotel and the catoring subs of ICAN.
Good Luck Rick
Posted by rickpic on :
quote:Originally posted by bmaxingout: rickpic i to am expecting that the new otcb will be fully reporting what im intrested in is Ican itself I would really like to see the balance sheet for this company. or atleast the date that ican will be fully reporting
by the way rick i find that your posts have been the most help in finding info about ican keep up the good work and thanks for starting this post five stars to you
Its all coming very soon. Ed Hayter is as ready to have this filing as we are. He's gonna be in Florida on Wed. and that could mean some interesting developements are on the way!
I'm glad your finding the DD helpfull.
Thanks Rick
Posted by noah129 on :
the thing that scares me more than anything is being in the right place at the right time with not a large enough position.good luck to all im under the accumulation phase will be adding along the way up or on the dips.
Posted by USF11 on :
quote:Originally posted by Jonathanlb8: We almost have more posts then the QBID post, and we haven't even had the huge run that is expected yet. This is awesome!!!!!!!!
If pps was based upon posts then CMKX & QBID would be the two largest companies in America.
Posted by USF11 on :
quote:Originally posted by noah129: the thing that scares me more than anything is being in the right place at the right time with not a large enough position.good luck to all im under the accumulation phase will be adding along the way up or on the dips.
What's scares me the most is Sterling is pumping ICAN.This guy is the Jesse Jackson of pumpers. He starts pumping and I want to run away. He used to write that CMKX should be $16 a share and he also pumped MLON. I have a couple million shares at a .0005 so I am not worried about losing money, but I would be very concerned about the people on messege boards pumping this thing right now, If you bought in at .0009-.001. If Ed gets on IBC and doesn't comment on the Transfer Agent being gagged and if or when the retired shares will be reissued then this can go south in a hurry. I think ICAN can approach half a penny this week if the CEO comes clean on tuesday. One last thing IF YOU HAVE A PROFIT TAKE IT , Because nothing down here is an automatic!
Posted by going for gold on :
back from another holiday,i must say,what a week for ican,i needed almost a hour to read all comments,anyway still have my 9m,not pumping anything at all,i bought ican at 0.0014 last year in nov and bought at 0.0003 in februari,so i've a nice gain but i see the larger picture , i think this will the best investment i've ever made ,so for me i 'll only sell if i feel that the pps for ican is right,and for me at the moment that is not the case,oh yeah,stockguy 123,keep giving your opinion about ican,the more negative you are,the more people will buy ican,i am more and more sure that ican deserves the title share of the year
Posted by dellamorte dellamore on :
Where is stock 123 ? Hope Ican takes a brief dip tmorrow , just so he'll post some nonsense again .
Posted by noah129 on :
hi guys just wanna say good luck this week and i am certainly excited about this company right now. as you may be realizing from my enthusiastic posts i am what most would call an extreme dreamer. i am not saying this to scare anyone away but i beleive so deeply that i am onto something with one of these penny stocks that i get giddy sometimes.so i know it is way too early to celebrate for me at least but if some of us make a bundle i have heard of people meeting places like vegas to celebrate our good luck and fortunes.would anyone be into this? i personally have not been to vegas before but i love to gamble always have probably always will.i am suggesting that those that feel they would enjoy something like this we should meet at a hotel and celebrate a long weekend.any suggestions would be welcome as to what hotel to stay at.you see i really am a dreamer in my mind im already in vegas sippin on a cocktail playing texas hold 'em.keep the faith folks peoples dreams do come true why not yours...
Posted by bmaxingout on :
i think that we should all meet at pine bluffs after all is said and done. that way we all can take a good look at our hotel and convention center maybe even treat ed to big steak in our new resturant
good luck next week all keep the faith and remember buy large and hold shut out the daytraders
Posted by noah129 on :
sounds good to me bmaxingout i like the idea of pine bluffs convention center.i was recently bummed out when i returned from florida and did some more dd on ican; only to find out they had nice restaruants in florida.i know this is a bit embarressing to admit but i didnt really start to look at the fundamentals of this company until recently when i noticed the stock price going up ten fold from the bottom of .0001.i try to trade partially on technicals and partially on fundamentals.now when it comes to pinks ive decided to heck with technicals much better and safer to do the research be patient watch some runs and enter at a good point.this may mean missing out on alot of momo runs from group picks and other stuff but to me that is much more like gambling than investing.if one is to invest and really hold out for large gains then these pennystocks can be a great thing.its just so hard sometimes to decifer scam vs. goldmine waiting to happen.good luck to all cya in one of the sanibel steak houses .by the way check out the links on icans website for the restaruants they are very nice places that we own.they even have a commercial you can view.
Posted by Doctoall on :
Noah just a quick question. Are you the same Noah who pumped CMKX with Sterling ?
Posted by noah129 on :
hey doc i dont know anything about cmkx or sterling i swear to you and anyone on this board.i dont even know who or what sterling is i am glad to say that when i first started in micro pennies in late nov of 2004 i looked at cmkx and something told me stay away.i did however get trapped into ewmh and also the pos axia. both have reversed split me down to basically nothing in those positions.my other holdings that i remain positive on are ican qbid prrm hope this is not a scam and hpon btor gmci dmxp.i know it is hard to beleive me cuz their is so much changing of names when the credibility of a person comes into question after nonsense posts pumping or bashing stocks but i can honestly say i am new to posting on this site.i have posted a few times under the name of fatty on ihub but that is it.i look at raging bull sometimes but i dont enjoy that site enough to post on it.there is too many people basically cheerleeding on that site for me not enough dd.you guys over here are great i love the vibe and you should or will be seeing my own character come through soon enough to trust that i am a young guy 25 on the east coast who is basically simple in the sense i just wanna make some serious $$$ like the rest of you.have a great morning all sincerely noah !
Posted by noah129 on :
hey sorry for the long response just wanted to make it clear that i am sincerely new here .
i think ICAN, i think ICAN !!!
Posted by tntrader on :
GL to all today.
Posted by Forrestgump on :
Press Release Source: IBAC Corporation
IBAC Corporation President & CEO to Be Interviewed by the IBC Radio Networks Stock Talk Live Program Monday March 14, 8:22 am ET
NEW YORK--(BUSINESS WIRE)--March 14, 2005--Edward W. Hayter, President & CEO of IBAC Corporation (Pink Sheets: ICAN - News), will be interviewed tomorrow March 15, 2005 at 1:30 pm (EST) live on air by Mr. Daryn P. Fleming of IBC Radio Networks Stock Talk Live Program www.ibcradio.com . The interview will cover all aspects of IBAC Corporation.
About IBC Radio Network
IBC Radio Network is a radio service with a unique, all-talk format distributed coast-to-coast and worldwide. We currently carry business, U.S. & world news, nutrition, science, paranormal & political content. We are focused on providing specialized niche content not found anywhere else on radio today. IBC Radio Network is "on the air" 24 hours per day, seven days per week. All of our shows on IBCRN1 are" EXCLUSIVE" to IBC and may not be broadcast without express written or contractual consent.
About IBAC Corporation
IBAC Corporation is a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group/National Hospitality Management Service/The Royal Entertainment Group and The Royal Arkansas Hotel & Suites, IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward-Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the hospitality/entertainment industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. Contact:
quote:Originally posted by noah129: hey sorry for the long response just wanted to make it clear that i am sincerely new here .
i think ICAN, i think ICAN !!!
Thanks for the clarification, just that some of us got burnt with CMKX and wanted to be sure. I also believe that ICAN will be a great play Posted by USF11 on :
Everyone should take a good look at GWGO. This was a .000 stock now trading at .0038 because of a dividen annoucement. ICAN has less shares outstanding then GWGO so I would expect a similar or even greater run when our dividen info is released.
Posted by 4Tune4Me on :
Me thinks Stockgirl, oh I mean Noah, protests too much...
Posted by noah129 on :
im sorry you feel that way 4tune4me, i didnt think people would mind another positive investor out there. i dont know who stockgirl is but i am not this person you refer to i have been in ican for about three months now my first purchase was @.0004 then again at.0003 and i have been adding all the way up.still wish i had more shares though as i do beleive in this company. good luck to you and may your fortunes arrive with the rest of us.please dont rain on my parade even if it is a fantasy.have a little faith and trust that you can too pick a good stock and hold.sincerely noah.
Posted by noah129 on :
well it was a slow day today not much movement to the upside but a good buying oppurtunity in my opinion.good luck to all tommorrow.
sincerely noah
Posted by bmaxingout on :
hi all well we didn't exactly get rich today lol,... just wondering if anyone got a chance to hear the interveiw today.i missed the whole thing so if anyone has any info that they wouldn't mind sharing i would love to hear it
Posted by bmaxingout on :
man, did you see that spike in price today after the price jumped i could almost smell the money hey wheres 123
Posted by noah129 on :
hey im not positive but i beleive the interview is tommorrow around one-ish maybe not sure.heres the link to the ibc radio kinda fun to call this guy up sometimes and bullshiz about micro's.
most of you probably know but i thought it would be applicable to repeat ibac (ican) has given IBC RADIO 66 million shares. i think they are hoping for what alot of us are hoping that would catipult this radio company quite a bit does ican decide to run.
Posted by Forrestgump on :
DON'T FORGET..............
Edward W. Hayter, President & CEO of IBAC Corporation will be interviewed today at 1:30 pm (EST) live on air by Mr. Daryn P. Fleming of IBC Radio Networks Stock Talk Live Program www.ibcradio.com .
The interview will cover all aspects of IBAC Corporation.
Posted by rickpic on :
Watch for spikes in PPS just prior to and just after the interview today at 1:30!
Cheers Rick
Posted by going for gold on :
bringing ican back in the picture,another few hours and the intervieuw 'll be there,can't tell enough,that i am really excepting a lot of it,hope some more news of the spinn-off,and if the intervieuw does it's work,man this could may be the day that everbody who believes in ican,is waiting fore
Posted by tntrader on :
He interviews every week. I don't expect anything to happen.
Posted by dodint on :
I'm still here, holding.
I'm not complaining, but I'd really like to see it break that .001 barrier, if even only for a few hours.
Posted by USF11 on :
I think this interview is a big deal for ICAN investors. Why is the transfer agent gagged? That question alone is worth breaking .001 with a positive answer.
Posted by bmaxingout on :
just picked up another 3 million shares our day will come
buy large and hold shut out the daytraders
Posted by homer_0 on :
1:30 PM (EST) is 12:30 Central right?
Posted by bmaxingout on :
right
Posted by bmaxingout on :
if we close the day at .001 then i think that we will see the price climb rather quickly after that
Posted by homer_0 on :
Ok, whoever is interested in the interview, its going to start in a few minutes!
Posted by Leardron on :
Just in case people didn't know or are interested, IBAC is now listed on IBC radio's sponsor's list.
Posted by noah129 on :
hey troopers i listened to the interview and i was honestly pretty impressed.now i obviously have an interest in this companies success as do many of you so i tend to see only the bright spots .Ed (ceo) again restated the fact about him purchasing from the open market up to 500 million shares and he said he feels the stock is undervalued.again he stated the a/s went from 20 billion to 10; the o/s is now 1.3 billion shrs.he also stated that the company is in the process of being audited which i really enjoyed hearing.Ed seemed to be in good spirits even threw in a little restaruant joke in the interview.he highly reccomends all who can to visit the restaruants in florida as they have an excellent chef.he again mentioned the spinoff divy that shareholders will get once they move to the otcbb.i tried to call in to ask him some ?'s but was unable to get through.Ed has 20 years experience in investment banking and seems to be pretty confidant that he and the company have the ability(cashflow) to aquire more undervalued properties.we all probably know that in order to become a ceo one has to usually be a fairly charismatic person which i felt that judging from what he said and the tones of his voice ED is .i remain positive on ican and all of their subsidiaries and was a little surprised that there wasnt much buying interest in this stock today.good luck to all .
sincerely noah
Posted by Rags2BetahRags on :
Not Bashing BUT.......
Come on .0005!!!!!!!!!!!!!!
I want more shares
Posted by tntrader on :
Ed's experience in investment banking has me more concerned than anything. He knows what he can and can't get away with. Hopefully I'm just being a cynic.
Posted by Leardron on :
quote:Originally posted by noah129: hey troopers i listened to the interview and i was honestly pretty impressed.now i obviously have an interest in this companies success as do many of you so i tend to see only the bright spots .Ed (ceo) again restated the fact about him purchasing from the open market up to 500 million shares and he said he feels the stock is undervalued.again he stated the a/s went from 20 billion to 10; the o/s is now 1.3 billion shrs.he also stated that the company is in the process of being audited which i really enjoyed hearing.Ed seemed to be in good spirits even threw in a little restaruant joke in the interview.he highly reccomends all who can to visit the restaruants in florida as they have an excellent chef.he again mentioned the spinoff divy that shareholders will get once they move to the otcbb.i tried to call in to ask him some ?'s but was unable to get through.Ed has 20 years experience in investment banking and seems to be pretty confidant that he and the company have the ability(cashflow) to aquire more undervalued properties.we all probably know that in order to become a ceo one has to usually be a fairly charismatic person which i felt that judging from what he said and the tones of his voice ED is .i remain positive on ican and all of their subsidiaries and was a little surprised that there wasnt much buying interest in this stock today.good luck to all .
sincerely noah
The pps is going down probably because Ed didn't say anything new. You are not going to see this thing start to take off until Ed annonces he is finished his buy back, and it will really take off when they announce the dividend. I think most people are reading into this that the dividend won't come probably for another few weeks. The short term day traders don't want to wait so they bail. Let's just say I think we are going to have a great summer with this one. April and May will be interesting.
Posted by dodint on :
I'm starting to get restless waiting for an annoncement about this dividend. I'm trying to be patient but I'm starting to feel like the proverbial donkey with a carrot dangled in front of him, except the ICAN spinoff is the carrot and I'm hoping I don't end up being a jackass.
I'm very happy with ICAN, but it's taking some nerve as I watch some other picks I spent the ICAN money on raise much quicker, in hopes that ICAN will pay off bigger later. I'm scared of selling my ICAN and missing the dividend, so I just sit, and watch, and wait.
Posted by bmaxingout on :
imho this interveiw was just more of the same what this stock is some really good news like the company retiring some of the o/s and not just the a/s now that would give this stock a good kick in the ass and get it moving.this company is undervalued atleast as far as im concerned but all i have is pr's to get my info from. this company needs to show its balance sheet.I think that I might have been hoping for better news like something more on the line of when we can expect to see our dividends. im now into Ican for 12 million shares. and now i think that before i put any more into this one i need the balance sheet or my divs.
sorry for the sour mood but i really was expecting more from this interveiw. Kinda even felt a bit slighted by the answer about the TA gag order.
Posted by Doctoall on :
Okay so where are we going to today? I picked up more at the end of the day and waiting for the run. I think that the gag order is a good thing, guess he does not want a bunch of bashers calling the TA and making up weird theories. Give him time and when he has all that he wants in order the gag order will go by the wayside Posted by Doctoall on :
So where is all the volume this morning? Posted by going for gold on :
doctoall,oo're right, really ridicolous such a low volume and the pps down,i 'll just ignore this one,just waiting for the news of te spinn-off
Posted by Doctoall on :
Back up to 0.0007 Posted by dodint on :
Well, a close at .0008. Pretty lackluster day, but at least we're not losing.
I wonder what tomorrow will bring. Any PR expected? I don't think ICAN waiting a while before putting out PR's is a bad thing, since they've put out so many recently, but like any investor, I'm curious what's going on out there.
Here's to tomorrow. Posted by Mack on :
going to load up on somemore shares tomorrow morn
Posted by Doctoall on :
Can we see some Green for St. Paddy's Day $$$
Posted by going for gold on :
all those sells today,hate it,anyway i've just bought some more ican,now i have 11m,let the spinn-of come Posted by Doctoall on :
Also bought more today, getting more at these great rates Posted by Doctoall on :
Now at lucky 7 lets move on up Posted by going for gold on :
look at the volume,i hope that's ed buying more shares,still hope that tomorrow the pps will back around 0,0008
Posted by Doctoall on :
We need something to get this moving again, come on Ed lets get a fantastic PR today Posted by going for gold on :
back up 0.007 :-),love the thought that i bought some ican yesterday
Posted by Doctoall on :
quote:Originally posted by going for gold: back up 0.007 :-),love the thought that i bought some ican yesterday
Me 2, topped up on shares yesterday and again early this morning. Now waiting to see ICAN bring me some green Posted by rickpic on :
Hello All!
Been busy so haven't dropped in here for a few days. I hope that everyone holding this stock understands the value of what they own!
Heres a break down for ya!
$415k in Feb. on e month revenue!
Total market cap = $780k
Thats not even 2 months revenue!
Total stated value of ICAN at this time is
$30 million
1.3b O/S divided by $30m = .023 per shares
but lets divide it by the entire A/S for those who will low ball the value
10 billion x $30 million= .003 per shares
now lets add upcoming events
premium of dividend
spin off
Sanibel acquisition 4/15
Sanibel acquisition 7/30
total then is $9-$10 million a year!
2 Hotel negotiations ? value
expantion of Sanibel Chain to as many as 30 restaurants
$13.5 Arkansas restaurants chain being negotiated
Good Luck All
The float has been bought up here and the MMs are short!
Individuals from the paltalk group own
Ed 255m+ 190m 180m 110m 65m 56m 48m
and many there own between 2 and 40m
none of those shareholders is selling at all and many of them are adding to there positions in a big way.
Hold on or get on and take the ride!
Short Squeeze is about to happen!
Do your own DD!
Cheers old-trader0 Rick
Posted by going for gold on :
you can count my 11m by that,i'm not selling Posted by foxtrot6 on :
I have 2.5 million
Posted by B on :
I have 1 million
Posted by Jonathanlb8 on :
I have 6.3 mil
Posted by noah129 on :
i have one million and holding strong.im in for the long haul though i wouldnt even think of selling until 3-5 cents.and that would only be part of my position as i intend on adding to this very soon if the price stays this low.
Posted by rooster on :
Edward W. Hayter is the new president and CEO of IBAC Corporation Wentzel the ceo ..
I give up whose really running the ship here and where is anything in pine bluff arkansas....
what is up with all this
Posted by rickpic on :
Hope this helps!
President & CEO Edward W Hayter IBAC Corporation
Mr. Hayter As Founder, and President of Turner Hughes Corporation, a Private Investment Banking Firm & Commercial Real Estate Finance Company,and has been successfully involved in ownership interests of a broad mix of prominent companies for more than two decades.
Demonstrating a special talent for developing strategic alliances with time honored companies; Mr. Hayter knows what it takes to turn business goals into reality. Well known for his ability to generate new ideas as well as offering critical guidance as a business strategist, investor and consultant of multi million dollar operations, his leadership and entrepreneurial spirit have unfailingly helped to grow and profit numerous companies. Known for his vision and willingness to get things done, Mr. Hayter applies superior research skills and strong executions into building profitable businesses.
Possessing the prudence and skill to successfully invest in and develop start-ups as well as established companies through various developmental stages. For the last few years, Mr. Hayter has been primarily involved in his company, Turner Hughes Corporation. A well-traveled entrepreneur, Mr. Hayter has lived and worked throughout the United States with business interests in the states of Arkansas, Florida, and New York. In addition to his far-reaching business acumen, he is the proud father of two.
-------------------------------------------------------------------------------- President Karl Wenzel The Sanibel Restaurant Group, Inc.
Prior to joining The Sanibel Restaurant Group, Mr. Wenzel served as President of Caleric Corporation a private holding company with interests in the hospitality industry.
Mr. Wenzel has over thirty years of industry experience, with service to the Marriott Corp & Royal-Caribbean Cruise Lines. While receiving his Master Chefs designation in 1971 from the famous Steigenberger Hotel & Management School. Mr. Wenzel was designated by the Chaine des Rotisseurs in Paris and is also a member of the Maitre de Cusine of France, The Etol of Escoffier and World Master Association in Singapore.
He has also hosted television shows on PBS & The Family Channel and has authored three books published in five different languages.
-------------------------------------------------------------------------------- President & COO Gary Becker National Hospitality Management Services Co.,Inc.
Prior to joining National Hospitality Management Services Co., Mr. Becker served as President of International Hotel Management Corporation of Canada a company with interests in the hospitality industry.
Mr. Becker has over twenty five years of industry experience, with service to Drake International & the award winning Royal Brock Hotel Spa & Sports Club. While receiving his Degree in Business Administration from Waterloo Lutheran University. (Honors Accounting and Economics) Mr. Becker has served as Director of several recognized organizations the Brockville Museum Board, Brockville Center for The Arts, Brockville Symphony, Brockville Chamber of Commerce, Halifax Board of Trade, Greater Boston Chamber of Commerce, and Brockville Historical Society.
Posted by dodint on :
Does Hayter have an e-mail address? I work days so I don't have time to call, but I'm curious to see what kind of reply would come if someone would actually ask him about the time frame of the stock dividend.
Posted by homer_0 on :
Sorry to get off topic, but I have shares of ICAN and CNES. (as well as other non-penny stocks) Both look very promising to me at the moment. Reason I am posting this, is because right now I am 18. I was wondering since you all have more experience w/ stocks, if starting this young is a good idea or not? Also, since I am starting at this age, do you all think it would be possible for me to be able to retire early? lol well, thats all. and like you, I will be keeping up w/ ICAN!
Posted by Galaxy on :
HOLDING LONG HERE... :-)
Posted by Mack on :
holding---trying to get somemore!!!!!!
Posted by Mack on :
still waiting to get filled @ .0005/600k
Posted by going for gold on :
kind of low volume today, i'am not sure because there is no pr but my feeling says the mm's are running out of shares,i had some buing ordersing at 0.005 and 0.0006 but they didn't make it,anyway hope we at eod the pps will be 0,0007 or more
Posted by tntrader on :
I picked up 2 million more today, for a total of 4 million.
Posted by USF11 on :
I'm surpised we havent seen those 9mil blocks go through today the past 3 days most of are volume has come from those trades.
Posted by Jonathanlb8 on :
Hopefully we get some news by the end of the week.
Posted by 4Tune4Me on :
Has anyone noticed latest Press Release sounds just like the one that came out from Qbid...?
IBAC Corporation Has Been Informed That a Private Investment Group is in the Process of Purchasing a Large Position in the Company Tuesday March 22, 10:18 am ET
NEW YORK--(BUSINESS WIRE)--March 22, 2005--IBAC Corporation (Pink Sheets: ICAN - News), has been informed that a private group of investors is in the process of buying a large portion of its ICAN stock on the open market. The private group of investors has committed themselves to buying ICAN stock up to .01 "We are extremely pleased to have such a strong interest in our company, Management feels strongly that the company's stock is extremely undervalued and we believe it won't take long to see the price appreciate to a level respective of the company," stated Edward W. Hayter, President and CEO of IBAC Corporation. "Our company is operating better than ever. We are building the company aggressively per our stated plans, but there is a clear difference between the growth of the company and the current price of the stock.
"Furthermore, we believe our stock is being unjustifiably suppressed and we can no longer sit back and tolerate that type of manipulation. We are working with the proper professionals and are taking active steps to correct this issue. We feel strongly this will help bring the true value to our company's stock," said Edward W. Hayter.
Posted by Leardron on :
quote:Originally posted by 4Tune4Me: Has anyone noticed latest Press Release sounds just like the one that came out from Qbid...?
IBAC Corporation Has Been Informed That a Private Investment Group is in the Process of Purchasing a Large Position in the Company Tuesday March 22, 10:18 am ET
NEW YORK--(BUSINESS WIRE)--March 22, 2005--IBAC Corporation (Pink Sheets: ICAN - News), has been informed that a private group of investors is in the process of buying a large portion of its ICAN stock on the open market. The private group of investors has committed themselves to buying ICAN stock up to .01 "We are extremely pleased to have such a strong interest in our company, Management feels strongly that the company's stock is extremely undervalued and we believe it won't take long to see the price appreciate to a level respective of the company," stated Edward W. Hayter, President and CEO of IBAC Corporation. "Our company is operating better than ever. We are building the company aggressively per our stated plans, but there is a clear difference between the growth of the company and the current price of the stock.
"Furthermore, we believe our stock is being unjustifiably suppressed and we can no longer sit back and tolerate that type of manipulation. We are working with the proper professionals and are taking active steps to correct this issue. We feel strongly this will help bring the true value to our company's stock," said Edward W. Hayter.
Yes, it is exactly like QBIDs. There is either a company going around purchasing shares of different penny stocks or this is a blantent attempt to increase the pps.
Posted by kt325ci on :
yep.....hopefully we get a similar boost. Volume and pps went nuts when QBID posted their PR.
Posted by 4Tune4Me on :
We just some solid .0009's....
Posted by 4Tune4Me on :
Note that pps also quickly came down for Qbid yesterday...
Posted by kt325ci on :
Current L2 Bid 5x.0007 1x.0006
Ask 5x.0009 5x.0001
Posted by Doctoall on :
Whats up with ICAN this morning. We need a PR that is not a duplicate to keep the PPS moving upward. Come on Ed give us a worth while PR
Upward Move For ICAN Posted by USF11 on :
If we don't get another PR ED is the stupidest CEO in the world.
Posted by Doctoall on :
quote:Originally posted by USF11: If we don't get another PR ED is the stupidest CEO in the world.
So I would expect another PR as he is a very bright guy Posted by justplayin on :
***********ATTENTION************
I have a call into the company as I think the PR is fake.
Their web page shows a date of 3/22/05 of "latest news" and the "PR" does not show up on their home page..
I will let you all know what I hear, until then I will treat this as false news. If they were informed by a group and this was good, it would be on their web page IMHO.
I would also suggest anybody in "Q" confirm the pr as they are almost identical.
Posted by USF11 on :
LOL one would hope
Posted by USF11 on :
I doubt the PR is fake the guy runnin the website is to busy burning the books and selling his shares to do an update. J/K
Posted by Itchy Pitts on :
If it was a fake PR the company would release a PR saying so.
Posted by USF11 on :
QBID has put a messege up on the investors section of their website saying their is no relation with ICAN. Thats way too funny.
Posted by 4Tune4Me on :
or....the fake PR guys would issue another fake PR that confirmed the first fake PR...enough speculation.
Posted by rickpic on :
Looking stronger all the time!
Cheers Rick
Posted by USF11 on :
quote:Originally posted by rickpic: Looking stronger all the time!
Cheers Rick
Ric I hope you didnt drink the kool-aid too. Unless we get a PR by the end of the day this has been a horrible day for ICAN's credibility.
Posted by kissme on :
ICAN stole the PR from QBID and got back-fired. This POS is not going anywhere. What a stupid company !!!
Posted by kissme on :
I will call investors Relation and tell them they're very stupid. Got out this morning and saved my ass.
Posted by rickpic on :
USF11 my partner and I own 190 million shares and the rest of the float is held by people I know!
The MMs are short and the squeeze is coming!
If you dont like it dont buy it! We will!
Cheers Rick
Posted by Doctoall on :
quote:Originally posted by kissme: I will call investors Relation and tell them they're very stupid. Got out this morning and saved my ass.
Great move, now I can get more shares Posted by USF11 on :
Holding 190 million shares of a super sub means you drank more then the kool-aid. Hope you can pay your rent.
Posted by Doctoall on :
PPS is still at 0.0008. We just may get a PR today. Posted by bmaxingout on :
I THINK THAT ED HAS SOME EXPLAINING TO DO
Posted by Doctoall on :
quote:Originally posted by bmaxingout: I THINK THAT ED HAS SOME EXPLAINING TO DO
I agree and I am sure he will Posted by USF11 on :
Maybe Ed is wants the price to hit .0001 so he can buyback his 500,000,000 shares before he ungags the TA.
Posted by bmaxingout on :
IF HE DOESN'T GIVE A PR THIS AFTERNOON I WOULD EXPECT TO SEE THE LARGEST SELL OFF IN ICAN HISTORY
Posted by USF11 on :
things may get real ugly
Posted by bmaxingout on :
I THINK THAT WOULD GET HIM A CALL FROM THE SEC
Posted by bmaxingout on :
WONDER IF THE MM IS MESSING WITH THIS, THEY NEED TO DO SOMETHING TO COVER IF THEY HAVE BEEN SHORTING
Posted by 4Tune4Me on :
Possibly, just possibly, there really is a group of investors. A little benefit of the doubt here....
Posted by bmaxingout on :
yeah thats it, and just maybe the same pr guy is writing prs for both companies. and maybe he ran out of things to say just writes the same thing for every company , and just maybe wild pigs will be flying out of my ass before the closing bell
Posted by 4Tune4Me on :
Send pictures...
Posted by bmaxingout on :
lol now thats some funny stuff
Posted by Itchy Pitts on :
quote:Originally posted by bmaxingout: yeah thats it, and just maybe the same pr guy is writing prs for both companies. and maybe he ran out of things to say just writes the same thing for every company , and just maybe wild pigs will be flying out of my ass before the closing bell
He copied it from "PR's for Dummies"
Posted by 4Tune4Me on :
Now THAT'S funny!!!
Posted by bmaxingout on :
hey wheres ed ive been calling ican all afternoon i cant even get through to the answering machine
Posted by bmaxingout on :
half a billion shares today and wound up in the same spot as yesterday.
Ed where are you!!
Posted by USF11 on :
There was 110 after hours in corrections so 2/3 of a billion and same as yesterday. Something has to give real soon.
Posted by bmaxingout on :
if it wernt for that peice of crap pr it could have been at least .0009 today
and if there isnt a correction on that pr i feel that the pps will finish even lower tommorow
Posted by foxtrot6 on :
I am 18. I was wondering since you all have more experience w/ stocks, if starting this young is a good idea or not? Also, since I am starting at this age, do you all think it would be possible for me to be able to retire early? lol well,
Yes Homer it is a VERY GOOD IDEA I wish I would have started earlier. And if you DO YOUR HOMEWORK and with a little luck you may be able to retire very early.
Posted by bmaxingout on :
just a little clearification on my last posts i do beleive that this last pr was in poor taste but taste is not what makes a company great imho this company still is one of the best finds ive seen and will make alot of people alot of money.i beleive that Ed should explain why this pr was almost word for word what (qbid)released. but besides the pr ICAN is imho worth at the very least .03-.04 Im sure that Ed can and will explain why this happened. If for any reason anyone felt that this was an attempt to bash this stock. They are seriously mistaken. i own ICAN and will continue to do so for a long time as i have stated in past post this is one that would make Warren buffett proud
as i have also stated in many posts buy large and hold lets shut out the day traders
Posted by bmaxingout on :
by the way the bell rang and no wild pigs lol
Posted by rickpic on :
I just read both PRs and they are similar, but not verbatume. Fact is that one of the members of the buyers group in question is a member of the ICAN paltalk and after the PR he came on to say that his group had begun buying in a big way and will continue to do so. This leads me to believe that wile similar there was merit to the PR.
The paltalk ICAN group owns in the visinity of 800 million shares of ICAN common stock and all the large holders held strong yesterday.
Ed Hayter I believe is on a mission to correct the ever growing short position being taken in ICAN.
All of the major Market Makers were called by the paltalk group yesterday and given notice that if they dont start covering there short and letting ICAN reflect its true value. There will be a huge cert call by the group, that will leave them with nowhere to get the shares to cover there short.
Let the games begin. ICAN is undervalued as a result of these market manipulators who choose to surpress valuable companies in an effort to increase there own wealth.
As I have stated here before the market cap is not even equivilant to 2 months of ICAN revenue. For anyone to place the blame for this on our CEO who is working very hard to grow value into the company we own is just wrong.
Good Luck Cheers Rick
Posted by rickpic on :
IBAC Corporation Responds To Shareholders Inquiries 3/23/2005 8:23:01 AM NEW YORK, Mar 23, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:ICAN), responds to shareholder inquires regarding a previous press release and other company business matters.
The company has had numerous inquiries pertaining to alleged plagiarism of another company's news, IBAC Corporation and management categorically deny these allegations, as previously announced a group of private investors advised the company of their intent to purchase a large position in ICAN and indicated that they will pay up to 0.01 for that position and the company accepts this to be fact, the company opted to make said news public, any similarities of content to any other company news is purely coincidental.
The company would also like to address numerous inquiries regarding shorting/naked shorting, the company views this as a very serious matter and is currently seeking the best course of action to investigate/resolve and seek all legal remedies pertaining to this matter immediately.
"The Company knows of no reason for the volatility in the per share price of the Company's common stock. All markets have volatility, and this is especially true on the Pink Sheets. Although our stock has climbed over the last month only to retreat with a number of ups and downs in between. IBAC shareholders believe it has been a long-time victim of short sellers, and naked short selling, which over the long haul has been a major contributor to the current price of our shares. However, over this period, we have announced some of the best news in our company's short history, we intend to rectify this continuous harm to our company's share price by any and all legal means available to us as this matter is interfering with the stated growth plan and operation of our company," said Edward W. Hayter, President IBAC Corporation.
About IBAC Corporation: (Pink Sheets:ICAN). IBAC Corporation, through its operating subsidiaries, IBAC Corporation owns/operates The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/The Royal Entertainment Group a company based in New York, IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Copyright Business Wire 2005
Posted by bmaxingout on :
now that is some good news I was hoping that ed would clear this matter up and am very glad he did it as fast as he has
GREAT JOB Ed!!
buy large and hold we will be taking the daytraders for a ride today
Posted by Doctoall on :
I agree great news for us, look out MM's Posted by going for gold on :
:i love the news from ed,now ican go to 0.01 make everybody happy ,and to the shortsellers i would say hasta la vista baby Posted by Galaxy on :
HOLDING LONG AND STRONG HERE.. :-)
Posted by noah129 on :
another long and strong icanian here good luck to all.holding till over a penny !!!
Posted by noah129 on :
quiet world in pink land today
Posted by Doctoall on :
Yep very quite indeed Posted by BchOus on :
I just bought into ICAN this AM at .0007, watching the T & S on Scottrade this pm between 14:43 and 14:57 there were 20 trades in the mil and thousands, total of 84,760,000 plus, traded at .0006, showed up in blue on T& S board. (I don't know what blue is) green is buy, sell is red...(Hope this is not Rats deserting the ship)....Does anyone using Scottrade know what this means???
Posted by amanick1 on :
dont think im going to sell this anytime soon even if it hits the .01 I think that its a worthy company to hold onto . I feel the pr's have been pretty forward and honest compared to others which makes me like this even more on the dips
Posted by going for gold on :
i hope april will bring to us the spinn-off,and then i am going to take a long vacation Posted by bmaxingout on :
well folks been looking real close at the charts today bollinger bands have tightened stoch is sitting close to zero money flow is still high MA should cross over soon. I guess all i can say is fasten your seat belt we are about to have lift off.
Posted by imakmony2005 on :
LETS GO GOT 1 MILLION THIS MORNING AT SAY 10AM FOR .0006, BRING ME THE CASH.
Posted by George on :
quote:Originally posted by BchOus: I just bought into ICAN this AM at .0007, watching the T & S on Scottrade this pm between 14:43 and 14:57 there were 20 trades in the mil and thousands, total of 84,760,000 plus, traded at .0006, showed up in blue on T& S board. (I don't know what blue is) green is buy, sell is red...(Hope this is not Rats deserting the ship)....Does anyone using Scottrade know what this means???
Also the colors in T&S mean: Green color = trade occurred on the Ask, Red color = trade occurred on the Bid, Cyan color = trade didn’t occur on the Bid or Ask, Yellow color = trade broke either the High or Low for the day.
You can only assume that red is a sale and green is a buy. It is possible to buy at the bid price.
Posted by George on :
quote:Originally posted by rickpic: I just read both PRs and they are similar, but not verbatume. Fact is that one of the members of the buyers group in question is a member of the
You are right they are not verbatume but to me they are way to close. There is more to this than what they are saying. Plus Qbid has had this same issue in the past.
Posted by rickpic on :
The Best is yet to come!
Good Luck Cheers Rick
Posted by Jonathanlb8 on :
It could be possible that the same group is just buying up both. It's not to hard to believe that a group of investors is buying up these two picks as they both looked poised to go up. I don't think Ed would be stupid enough to put out fluff like that if it wasn't true. He's alot smarter than that.
I look for him to only do things that will make our PPS go up, as he has already told us that he is buying as well.
I highly doubt he'd try anything that would jeopardize his own investment.
Posted by going for gold on :
absolutely no volume today, i think the weekend has already started,i own more shares then the volume of ican today Posted by dodint on :
*yawn*
Still holding.
Posted by homer_0 on :
really going for gold??
Posted by going for gold on :
once and for all,i own 11 million shares,at the time i wrote my last comment volume was only around 5m,so that's really low,everybody happy weekend and hopefully ed brings us so more goes news next week,want to see ican above 0.001
Posted by bmaxingout on :
"quoted from rick pick " -------------------------------------------------"I just read both PRs and they are similar, but not verbatume. Fact is that one of the members of the buyers group in question is a member of the ICAN paltalk and after the PR he came on to say that his group had begun buying in a big way and will continue to do so. This leads me to believe that wile similar there was merit to the PR.
The paltalk ICAN group owns in the visinity of 800 million shares of ICAN common stock and all the large holders held strong yesterday.
Ed Hayter I believe is on a mission to correct the ever growing short position being taken in ICAN.
All of the major Market Makers were called by the paltalk group yesterday and given notice that if they dont start covering there short and letting ICAN reflect its true value. There will be a huge cert call by the group, that will leave them with nowhere to get the shares to cover there short.
Let the games begin. ICAN is undervalued as a result of these market manipulators who choose to surpress valuable companies in an effort to increase there own wealth." _________________________________________________
this could help explain why volume slowed way down.maybe the MM's have realized that they cant sell (short and naked) shares that they dont own. The thing that I don't understand is why the SEC doesnt step in and stop this from happening I beleive that we all know that this is going on. Could someone explain what it takes to get the SEC involved? Can a single shareholder do anything or does it take a group shareholders.
Im not new to trading but what is a cert call? any advice or insight would be helpfull
Posted by BchOus on :
George, Thanks for your help. Soooo what was the deal with the 20 large trades, neither bid or ask? My first week of trading, thought it was a cinch, wow what a way to make money... now into month 2 I am operating on confusion, doubt and indecision......Back to the books.....
Posted by rickpic on :
BMAX
A Cert Call is when you call your brocker and request your shares in certificate form. Most shares trade in what is call street name. If we call for certs equaling the o/s. This will prove that the float in the street is vertual or naked short and it will cause a short squeeze. A short squeeze is when market makers are short or naked short and there are no shares available for them to get to cover there positions.
Cheers Rick
Posted by imakmony2005 on :
monday were moving.
Posted by rickpic on :
Had a strong close on Thursday and could see a higher level this coming week!
Good Luck Cheers Rick
Posted by bmaxingout on :
opened at .0008 hope everyone is wearing their seat belts
Posted by going for gold on :
i fasten my seatbelt,ready for a wild ride Posted by dodint on :
Watching dismal day after day like this is getting old. If I don't hear something difinitive about this dividend (haven't heard anything about it in a while, have we?) I'm probably getting out next week.
Posted by going for gold on :
i can't blame you,do what you have to do in your opinion,after all it's your money.for the moment,i am not so happy with the pps,i am also waiting for news,the only thing i've noticed that the volume is starting to get lower so maybe there are less shorters ,just guessing
Posted by Doctoall on :
I am another one who is about to jump ship!! The PPS is not doing anything, no news on the divy's and just not making any money, all good reasons to invest other places. Who knows naybe we will get that all glowing PR soon.
Posted by bmaxingout on :
yaahooo just picked up more on the dip
holding strong but need that news on the div with todays pullback im now sitting good but profit is at zero come on .0008 to close the day back on the up side
Posted by dodint on :
Yeah, I REALLY want to believe in this stock, but they always say not to fall in love with a stock and I think I may have.
I have put in a few sell orders, but then something interesting would happen and I'd revoke it.
Really, I think once this thing breaks the .001 limit it'll steadily climb, but that hurdle seems damn near impossible.
Posted by bmaxingout on :
at least it hasn't broken it support line so im not worried yet still has a lot up to go. this one is way over sold so we could see a pop any day now.
Posted by USF11 on :
Don't feel bad about today. Markets should have just took a 4 day weekend. Just about everything is bleeding today.
Posted by bmaxingout on :
its holding strong resistance at .0007-.0008 so if it goes above that for a day or two it should take off
Posted by Galaxy on :
HOLDING STRONG AND LONG :-) Im not worried about day to day level. Because i hope there is good feature for this stocks (long run)
Posted by noah129 on :
well folks as long as the pps doesnt decay i am personally happy with ican's performance.think about it whoever loaded up @.0001-.0003 are selling and the selling seems to be pretty thin as the stock has held ground fairly well.also i beleive what others have been saying that the shorts are scared on this one and will be covering slowly.i am just speculating pure opinion but i think this stock is going to pop and when it does the shorts are gonna get a boaconstrictor squeeeeeze.just my opinion but i think those that hang on and wait for news of divy combind with a possible squeeze action will be rewarded very well.
Posted by bmaxingout on :
wow did everyone see the shares that were traded at the end of the day not positive but imho looks like someone might have been covering before the bell
we sure could be looking for some pop tommorow
what is your opion ???
Posted by imakmony2005 on :
GREAT START, BAD FINSH. TOMMOROW THE SUN WILL RISE.
Posted by NomarKash on :
Wow, .0004, haven't seen this level in while!
Posted by Doctoall on :
This stock needs something, just slipping away. Long and holding here in any case.
Posted by amanick1 on :
this is a long term for me im buying in on dips when i can. I believe this is a good stock
Posted by bmaxingout on :
Ed we sure could use some good news about our divs today .0004 yikes broke through the support line but still holding strong
Posted by Mack on :
picked up more @ .0005
Posted by Leardron on :
Okay guys, I know now that the MMs are playing huge games with this one. I put an order in for 10 Million shares at .0005 yesterday. I saw a bunch or order go through this morning at .0005 but mine didn't process. I now just recently tried to cancel the order because I was going to try to buy at .0004 but got a market reject from my broker. Usually what happens when I get that, it means the order was processed but just hasn't shown up yet. I waited for 20 minutes and still didn't show up so I called my broker. They put me on hold for at least 10 minutes and then came back and said my order was cancelled.
My feeling is that the MMs processed my order but was holding it back to in order to process the sell orders at .0004 in order to help drive the price down. I think they got caught by me cancelling the order and then had to contact the MM to reverse it. Just my opinion but it seems very strange that they put me on hold for more than 10 minutes just to cancel my order with no explaination.
Posted by NomarKash on :
I'm waiting to get in at .0004
Posted by Doctoall on :
The stock is certainly not doing much these days, I truly hope that we get news soon.
Long and holding here Posted by Leardron on :
Personally I think Ed is scared now to put out any PR that doesn't have some conserable substance to it. After getting blasted on the last PR I don't think you will see a PR until he either completes his buyback or the middle of April when they close on the Bonita Springs Restaurant.
You might also see a financial PR after the beginning of the month if he holds to course like he did in reporting February's numbers.
Posted by bond006 on :
i think your right i just don"t want to fall in love with this one things are starting to good to be true and i started to see some fluff. i am in for 6million shares . i say go ican
Posted by Leardron on :
Personally I think it is good. I would rather see a PR once or twice a month that has real substance to it than one every other day that is basically fluff. I know it stinks for the current pps but it will be good in the long run.
Posted by bond006 on :
leardron thanks makes me feel a lot better i think your right as a matter of fact i agree or i would not have bought
Posted by NomarKash on :
Anyone see any buys coming through at .0004? I can't get my order filled and I thought I would.
Posted by USF11 on :
.0004x.0005 I dont think we will ever see the Ask drop to .0004
Posted by bmaxingout on :
i got filled at .0004 twice today but my order had been sitting there for two days im not sure whats going on but things are weird i had seen qiut a few trades go through at .0004 and wasnt sure why it took so long to go thruogh. the way that i placed the order was (good till filled)sometimes when i do that i will have to pay multible commishions if it takes more than one trading day.but i never worry about paying comishions but some do. I do think that the MMs are doing their best at covering their positions (short). Ithink that if we dont see some significant rise in pps then we should all follow "rickpicks" lead and have what was refered to as a cert call and put an end to this and let our company begin showing its true value. witch i beleive is somewhere around ten thousand times higher then it is right now. if we dont see some good rise in price by the end of this week than i will be calling the SEC myself and seeing what we can do as shareholders
but for now i say buy large and hold lets shut out the daytraders good luck all
Posted by USF11 on :
The ask never went to .0004 so how did you get filled.
Posted by Leardron on :
IBAC Corporation to Release First Quarter Revenue Results on April 4, 2005
NEW YORK, Mar 31, 2005 (BUSINESS WIRE) -- IBAC Corporation (PINK SHEETS:ICAN) today announced that it will release its first quarter revenue results on Monday, April 4, 2005 to the general public before the bell (Eastern time). The company will be releasing these revenue results subject to a formal financial statement from the companies' accountants and auditors.
IBAC Corporation, based in New York, is a Diversified Holding Company that operates Hotels, Restaurants, Food & Beverage Management Services and an Entertainment Production Company. IBAC Corporation subsidiaries are The Sanibel Restaurant Group, The Royal Arkansas Hotel & Suites, National Hospitality Management Services and The Royal Entertainment Group, and has over 100 employees.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Posted by going for gold on :
thank you leardron for the news.Hope this will bring the pps back to 0.0007-00008
Posted by Leardron on :
No problem. Looks like I was right about posting the results . Looks like Ed is getting things back on track. This is why I invested in ICAN in the first place. Keep the PRs to reporting results not what the results could "possibly" be at some time in the future.
Posted by Galaxy on :
I need this kinda of PR only. wether its profit or lose. Right direction and concentrate on business model. This stock will do very good :-)
Posted by going for gold on :
seems to be low volume today,hope that's game over for the shorters Posted by USF11 on :
the game wont be over for shorters until the TA is ungagged and there is a run forcing selling
Posted by Jonathanlb8 on :
I wouldn't expect much today, with the way the rest of the market is doing and all.
Posted by Leardron on :
Even though I expect the numbers to be good like last month, I don't think it will be a huge bump in the pps on monday. I am guessing it will go to 7 maybe 8 at the most. There are two things that I think will have to be done in order to get us above the .001 mark and that is to lift the gag order on the TA and/or the announcement of the dividend. Until then I expect it to keep playing in the .0004 to .0008 range. The fun part though is making sure you don't miss the boat when they do annouce them. You will be real sorry then if you are caught on the outside.
Posted by trust on :
I thikn it will dip to 0.0004 before Friday's close, that would be a perfect opportunity to buy.
Posted by NomarKash on :
I don't know if the ask will drop to .0004. I have had an order in since Tuesday at that price.
Posted by dodint on :
Well, closing up was a nice change. It wasn't much but it's psychologically pleasing.
Posted by gm on :
Tomorrow may be interesting...but Monday will be fun...
Posted by gm on :
Next week we should see a stream of PR's's...IMO
Posted by bmaxingout on :
i was hoping that i could get filled today at .0004 but now im trying for .0005 even that might be a tough. im thinking that .001 is coming real soon. this stock is so oversold that its not funny. any good news could push this one over the top
Posted by going for gold on :
slow volume today but it stays at 0.0006 that's a good thing
Posted by Forrestgump on :
ICAN doing just fine
Posted by bmaxingout on :
wow i was expecting more volume today with earnings coming out monday AM. This could mean that most if not all shorters have been covered. Im now thinking that getting filled at .0005 might not ever happen again.
If monday closes at or above .001 and stays there for a few days we will all be going for the ride that we have been waiting for.SHOW ME DA MONEY
Remember buy large and hold keep the day traders out of this one
Posted by going for gold on :
hope for you that it get filled for you,i've already 12m,so i think i've got enough to have a nice profit Posted by Leardron on :
guess everyone is waiting for Monday. Should be fun, have a good weekendy everyone.
Posted by bond006 on :
tried to get filled at .0004 i am glad somebody did looking forward to monday i am satisfied where i am at lets make some money
Posted by pennypro on :
Revenue Numbers(1QT) Coming out before the Bell ! Several PR'S Expected this Week.
Posted by bond006 on :
looking foward to monday should be fun if waiting for the div. to be announced when that happens katie bar the doors.
Posted by Leardron on :
hmmm, still not out yet. I hope Ed moved his clocks forward, LOL. He only has 10 minutes left before the bell.
Posted by 4Tune4Me on :
Would Ed drive down the pps to complete his buyback? Follow thru is 101 in my book.
Posted by 4Tune4Me on :
Funny my Ameritrade screen shows 33.2 million in volume but Last Sale tallies only 12.0 million. What gives?
Posted by superbroke on :
alphatrade also shows 33.2 million
Posted by Leardron on :
You know, not to make excuses, but by reading the PR again it didn't say what bell. We all assumed the PR meant the opening bell but he could have meant the closing bell. At this point I am going to give him the benefit of the doubt and say he meant the closing bell.
Posted by going for gold on :
looking good today back to 0.0007
Posted by erball on :
i think we are gonna make it finally, so anyone have any thoughts on ican
Posted by bond006 on :
leardron no need to make exuses your right. ed will report earnings today there is to much to lose by not doing so i am not worried one bit as a matter of fact this may be the last time at thease prices. good luck to all of us.
Posted by Leardron on :
And here's the News!!
IBAC Corporation Reports First Quarter Revenues
NEW YORK, Apr 04, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:ICAN) today reported gross revenues of its subsidiaries as better than expected. The March 2005 revenues are $550,023.25 combined for The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites/National Hospitality Group, This will give the company a first quarter revenue of $1,211,867.75 These revenue figures are compiled from internal company accounting/bookkeeping and are subject to an audit by the company's independent accountants/auditors. "We are very pleased with the operating results of these subsidiaries and attribute the growth in revenues to the management capabilities of Mr. Karl Wenzel and Mr. Gary Becker respectfully. The significant growth in revenues was achieved because of the company's ability to recognize undervalued and mismanaged properties along with its ability to make acquisitions of such properties rather quickly. We will continue to use this formula to grow the company and continue to seek additional synergistic properties through mergers, acquisitions or the creation of new entities to maximize revenues," said Edward W. Hayter President & CEO.
The Company has also entered into a verbal agreement to purchase a west coast company that specializes in event management and production for stock and cash the contract is expected to be completed within two to three weeks; the management feels that this acquisition will enhance revenues.
About IBAC Corporation
IBAC Corporation, a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group / National Hospitality Management Service/ The Royal Entertainment Group and The Royal Arkansas Hotel & Suites IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Posted by erball on :
sounds good are ya ready for takeoff..
Posted by going for gold on :
ed delivers as always,now let's hope the pr for the dividend will come soom
Posted by Mack on :
liking the news!!!
Posted by Leardron on :
that's pretty impressive revenue for March. It was almost half of all the revenue for the quarter. Once the other two Sanibel's come under IBAC's roof we could maybe start approaching 750K to 1 million in revenue per month.
Posted by erball on :
yes im lovin it now the good news awaiting that dividend info..
Posted by Ric on :
January and Febuary are always the worst months for these types of business. March usually is a lot better month and with early spring break for a lot of schools travel was probably up. Would have been nice to have net income, expenses are high in this business. Gross income doesn't say much but number doesn't look bad. But it does look good for summer revenues when the best numbers come in for June-August.
Posted by going for gold on :
my maths tell me that whit this revenue alone 5m(1.2m x 4) : 11.3 billion shares,we should be around around 0.0047 pps,can someone confirm that
Posted by Ric on :
No because its gross revenue not net. And this is normally the worst quarter for this market.
quote:Originally posted by going for gold: my maths tell me that whit this revenue alone 5m(1.2m x 4) : 11.3 billion shares,we should be around around 0.0047 pps,can someone confirm that
Posted by going for gold on :
you're right ,oeps, anway its kind of frustration,pps 0.0005 for the moment ,don't like it,want to se this around 0.001 Posted by bond006 on :
.0005 is not what i thought i guess sometimes you need some time for things to sink in. days not over i think we are going to close ok
Posted by renrob05 on :
What's a TA?
Posted by Leardron on :
quote:Originally posted by bond006: .0005 is not what i thought i guess sometimes you need some time for things to sink in. days not over i think we are going to close ok
I was expecting this. Thought it might hit .0008 but it did hit .0007 as I thought it would. Like I said, the only thing that is going to move this above .001 is the dividend announcement and/or the annoucement to lift the gag order off the TA. I see a couple other items coming down the road very soon that will boost it back up to the .0008 and .0009 range and that is the annoucement of the completion of Ed's buy back, the completion of the share retirement, and closing on the Bonita Spings acquisition which is to come by April 15th. I still believe in this stock but I am also realistic on what it is going to take to make it really take off.
Posted by erball on :
well guys do we see anymore news on the horizon?
Posted by WinsumLosesum on :
IBAC Corporation Subsidiary the Royal Arkansas Hotel & Suites Selected as Host Hotel for Tournament
By BusinessWire Last Update: 4/5/2005 9:07:05 AM Data provided by
PINE BLUFF, Ark., Apr 05, 2005 (BUSINESS WIRE) -- IBAC Corporation (PINK SHEETS: ICAN) subsidiary The Royal Arkansas Hotel & Suites today announced that it has been selected and contracted as the host hotel for the American Legion Baseball Mid South Regional Tournament August 10 - 17, 2005. This is the last major baseball tournament for youth's up to the age of 19 prior to a possible pro career. The winner of this tournament proceeds to the Legion World Championship tournament, with thousands of participants, major league scouts and spectators expected for this event. The hotel and its restaurants & lounge expect significant revenues from this event.
"We are very pleased with the selection of our hotel to host this very popular tournament and look forward to the large influx of participants and spectators to the hotel for that week, as this is a very popular tournament that will showcase some of the top talent in the region," said Gary Becker President.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: IBAC Corporation
Posted by Jonathanlb8 on :
Good news!!! Keep'em coming Ed
Posted by Jonathanlb8 on :
Man!!! We get news, and we still go down a tick. Ed, we need something big. If you wait to long to release the Div news, we'll be at .0001 and the dividend will only get us back to .0006. Come on. Do something for us.
Posted by bond006 on :
it will come bonita springs lots of good news on the way it will just take time as it falls into place. i understand there is nothing like the thrill of a good pps to help your head
Posted by erball on :
come on ed throw us some bones we are starting to worry and man it would be nice to show some green for a while..
Posted by homer_0 on :
damn, ican at .0005 whats going on w/ this...
Posted by mikensay on :
Great time to add to your position! This is a growing company with great news over the past several months; Retiring stock, acquisitions, and best of all big players investing in them. I'd say mid summer we should see this thing taking off.
Posted by Contraptor on :
I just bought another bunch of shares at .0005 earlier today. Now the stock can feel free to go back up again Posted by Jonathanlb8 on :
Gonna add some more to my portfolio as well.
Posted by dellamorte dellamore on :
Got out , too many PRs and not enough movement for my tastes . Won't say it won't do something eventually , but couldn't wait around .
Posted by scoopman on :
IBAC Corporation Board Approves a Special Dividend Wednesday April 6, 2:47 pm ET
NEW YORK--(BUSINESS WIRE)--April 6, 2005--IBAC Corporation (PINK SHEETS:ICAN - News), announced today that its board has approved a dividend in the form of forward split of 15% for all common shares issued and outstanding as of May 1, 2005 (the record date). As of the record date, each Holder of 100 shares of common stock shall be issued an additional fifteen (15) shares of common stock. Odd lots shall be rounded up. The mail date for the additional shares is May 15, 2005. "I requested this special dividend to reward shareholders for their loyalty," said Edward W Hayter President.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
-------------------------------------------------------------------------------- Source: IBAC Corporation
Posted by going for gold on :
at last,so go ican Posted by Leardron on :
Nice PR but I don't think this is what the investors are looking for. Don't think it will have my effect on the pps in my honest opinion.
Posted by Leardron on :
if he follows this up in the coming week or so with the PR about the dividend in the fully reporting stock which would take place after this dividend, that would be very nice Posted by going for gold on :
thru laerdron,we were looking for a dividend aslike shares of a otcc-company,but maybe that will come in the future,mabe ed just want to rewarder the long holders
Posted by homer_0 on :
I feel the same about that too Leardron. Won't take the pps up like I wanted it to. Not trying to bash, so please dont take it that way, just my feeling about it. Still holding here!
Posted by gm on :
Nice PR...we shoud see some more buying pressure...
Posted by going for gold on :
but anyway 15% of my 14m,nice little gift from ed
Posted by gm on :
55 milion volume within 10 minutes of the PR...
Posted by Leardron on :
In the long run it is a great PR because that means you will have just that many more shares when he gives out the shares in the OTCBB stock.
Posted by Ramius on :
Price dipping after that news???
Posted by Leardron on :
quote:Originally posted by Ramius: Price dipping after that news???
Not really, just one sell. Two things why this won't move much especially not right now. One is that you have a month to get in this one. If it does run a little, it won't run till you get closer to the date of record. Secondly, this dividend helps out the longs on this stock as it will give them more shares when the pps moves up in the future. For the immediate future, some stock holders who don't know the general game plan of this stock will just see this as a measure that will dilute the value of the stock. I have seen enough of these types of dividends given out to know that it usually doesn't have a tremendous immediate effect on the stock.
Posted by bond006 on :
i feel great this puts me close to where i want to be. i am a long anyway and this shows me that ed does what he saya
Posted by Leardron on :
wow, that trade at .0048 looked nice for a second. Posted by gm on :
It sure did...we may be there very soon...
Posted by dodint on :
quote:Originally posted by Leardron: In the long run it is a great PR because that means you will have just that many more shares when he gives out the shares in the OTCBB stock.
Or...there is no divedend in an OTC stock. I'm trying really hard to stay faithful to this, but it feels like we keep getting led on and on.
I thought the idea of the buy back/retiring of shares was to keep the amount of shares down. Now a 15% gift pumps that total back up which, to me, seems to hold the PPS down.
I'm still holding, but I'm really starting to scratch my head about this.
Posted by B on :
Great move by Ed. The MM's and daytraders are screwing up Ican's pps. What better way to try to control the situation. Shareholders just made 15% on there investment buy just holding ICAN, NICE!
The fact that he's doing this right now tells me Ed needs to stabalize an otherwise volatile situation created by the MM's at least until May 15.
HOLD your stock something big is coming in May!!!!! ------------------------------------------------ Boards don't hit back
Posted by bmaxingout on :
a div like this is only good if the pps doesnt drop. we have to remember the further the stock gets diluted the further the spin off otc becomes diluted.
what i would hope for now, is that after the 15% div is payed out ICAN will begin an agressive buy back and share retirement program THAT would be a nice reward for all of us that having holding long. and it would drive the pps up to the point where this company should be
after all a 15% div is only 75 dollars per one million shares held or rughly.000075 at current pps
i beleive in ed so im still holding long just wish that he would fill us in on what the plan is
Posted by dodint on :
I believe in Ed too, but I agree with bmax. I'd rather have them say "Hey, this is our plan for the next year." Instead of "Hey, better grab some stock, big news coming next month!" The thing is, "next month" never gets here.
Please, Ed, make a fool of me. Posted by dellamorte dellamore on :
Not what they said was going to happen , glad i hightailed it .
Posted by mikensay on :
If there are 15% more shares issued, there's more dilution. How can that be good when we are sitting so low.
Also, what are the MM's doing to manipulate the price?
Posted by bmaxingout on :
quote:Originally posted by dellamorte dellamore: Not what they said was going to happen , glad i hightailed it .
dellamorte well i do agree with in that they never said that they were going to have a forward split, but Ed did give us his word that they also were not going to have a reverse split just to bring the pps up.what he did promise was that he would bring an end to the naked short sellers and make the mm's accountable for the way that they do business . and that would bring the share price up to reflect the true value.I beleive that price would be some where around .03-.04 per share. this is JMO but if you add the assets and revs it comes out close to that,and thats not without any PE multiples my biggest worry is that with further diluation it will be harder to achive .04
the thing that will send the pps upto that level is the spin off into a FULLY REPORTING otc im hoping that we get more news on that soon
hopefully before the 15% div is paid out that would get some real excitment going for ican
As i always say buy large and hold lets shut out the daytraders and short sellers good luck all
Posted by gm on :
Tomorrow should be interested...lets see if the momentum will still be there...
Posted by gm on :
Well that .0048 was not a fat finger IMO...if it was it would of been .004 or .005... So was it a signal to the other MM's of what thw stock is actually worth or where it will run soon...
Posted by Ric on :
MM play in 5th digit at this level it was probably a .00048, everything has to be put it manually in pinksheets and errors like this is common. It is already been corrected in my streamer anyway.
Posted by Jonathanlb8 on :
Hey, where'd you guys get that news from? I can't seem to find it.
Posted by Leardron on :
The Royal Entertainment Group, a Subsidiary of IBAC Corporation, Announces Its First Concert Event at the Pine Bluff Convention Center Auditorium the Legendary Singing and Song Writing Team of Ashford & Simpson on Saturday May 28, 2005
PINE BLUFF, Ark., Apr 07, 2005 (BUSINESS WIRE) -- The Royal Entertainment Group and affiliate The Royal Arkansas Hotel & Suites, subsidiaries of IBAC Corporation (Pink Sheets: ICAN), will present their first concert event at the Pine Bluff Convention Center Auditorium during memorial day weekend at 9pm Saturday May 28, 2005. Nickolas Ashford & Valerie Simpson have had two careers, as songwriters and performers, with the former seemingly more important than the latter until the mid - 80s. The two met in 1964 and scored their first songwriting hit in 1966 with Ray Charles recording of their "Let's Go Get Stoned." After a period at Specter Records, they moved to Motown, where they wrote hits for the duo of Marvin Gaye and Tammi Terrell ("Ain't Nothing Like The Real Thing" and "You're All I Need to Get By"). When Diana Ross left the Supremes for a solo career, Ashford & Simpson wrote "Reach Out and Touch Somebody's Hand" for her. Their own performing career was launched in 1973 with Keep It Comin on Motown and Gimmie Something Real on Warner Bros. Their first success came in 1977 with the gold-selling Send It, which contained the Top Ten R&B hit "Don't Cost You Nothing." Is It Still Good to Ya, a second gold album, contained the number two R&B hit "It seems to Hang On" in 1978.
Stay Free, their third straight gold album contained "Found A Cure," another R&B smash that also made the Top 40 on the pop chart.
A Musical Affair, in 1980, featured the hit "Love Don't Make It Right," but was not as successful as previous efforts. Meanwhile, Ashford & Simpson continued to work with other artists, scoring successes with Diana Ross, Chaka Kahn ("I'm Every Women"), and Gladys Knight. Their own career saw a resurgence in 1984 with Solid, which went gold and produced the number one "SOLID" (number 12 on the pop charts), "Outta the World," and "Babies." During the late 80s and 90s Ashford & Simpson continued to tour and record sporadically.
"We are very pleased to have as our first concert event The Legendary Ashford & Simpson and we know they will put on a great show. We are further looking forward to bringing to the Pine Bluff Convention Center more quality acts and events in the months to come it is the intent of our company to bring some type of quality event every other month weather it be Comedy, Musical Concert, Plays, etc. to the complex," said Garry Becker President The Royal Arkansas Hotel & Suites.
IBAC Corporation is a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group/National Hospitality Management Service/The Royal Entertainment Group and The Royal Arkansas Hotel & Suites, IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward-Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the hospitality/entertainment industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Posted by Leardron on :
Here is news to help clarify the dividend
IBAC Corporation Board Approves a Special Dividend That Will Not Affect Any Previously Announced Upcoming Dividend
NEW YORK, Apr 07, 2005 (BUSINESS WIRE) -- IBAC Corporation (PINK SHEETS: ICAN), announced yesterday that its board has approved a dividend in the form of forward split of 15% for all common shares issued and outstanding as of May 1, 2005 (the record date). As of the record date, each Holder of 100 shares of common stock shall be issued an additional fifteen (15) shares of common stock. Odd lots shall be rounded up. The mail date for the additional shares is May 15, 2005. "This one time special dividend was approved as a bonus to our loyal shareholders and will not affect any of the company's plans for the sale of one or all of its subsidiaries to a fully reporting otcbb company and the parameters that were previously discussed will remain the same," said Edward W. Hayter President.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Posted by Doctoall on :
Okay now lets see a jump in the PPS
Long and holding here.
Posted by Leardron on :
Hey Doc, You were post 1000! Maybe Ed should give you a free meal to one of the Sanibel Restaurants, LOL Posted by Doctoall on :
quote:Originally posted by Leardron: Hey Doc, You were post 1000! Maybe Ed should give you a free meal to one of the Sanibel Restaurants, LOL
Damm I hope that he is reading this thread free meal that would be a treat.
Come on ICAN I know You Can
Posted by Jonathanlb8 on :
Well, I'm 1002. Can I just get .01 on the PPS.
Posted by bmaxingout on :
hi all i spent the night thinking about this 15% div. This could be a great and inexpensive way to trak all of the share holders of record and put the MM's on gaurd for whats about to happen. and give us dogs a bone
good job Ed
Posted by Jonathanlb8 on :
Make that 1003. How about .005 on the PPS?
Posted by Jonathanlb8 on :
Make that 1003. How about .005 on the PPS?
Posted by Leardron on :
quote:Originally posted by Jonathanlb8: Make that 1003. How about .005 on the PPS?
LOL, yea I would definitley take either right now.
Posted by Leardron on :
quote:Originally posted by bmaxingout: hi all i spent the night thinking about this 15% div. This could be a great and inexpensive way to trak all of the share holders of record and put the MM's on gaurd for whats about to happen. and give us dogs a bone
good job Ed
Yea, I was thinking the same thing yesterday. Good way to re-establish what your outstanding shares are.
Posted by Jonathanlb8 on :
Also, by putting out a PR stating a dividend date. It will promote a longer hold for those who want to get the dividend. Good way to keep us holding. Holding always means less selling, which equates to a better PPS.
Posted by 4Tune4Me on :
I'm not too crazy about carrots being dangled to hold on to my stock for a certain period. Not by a pinkie. Reward investors that have actually been the faithful by holding longer term. I think we have a bit of roller coaster ride coming.
Posted by Leardron on :
This one could get interesting next week with the expected annoucement of the acquisition of the Bonita Springs Sanibel Restaurant. Could give the pps a little boost.
Posted by pennypro on :
hmmm, 3 PR's, 1 of which actually was actually meaningful, and the PPS doesn't budge? Ouch.
Someone spin this so I can feel good about holding again.
Posted by Ric on :
Well, actually the stock was diluted. It was a good dilution but they added 15% to the shares count by all means when they issue the divi's. In a normal situation the stock would decrease in value.
Now since the stock didn't decrease in value then it means it actually increased because you have more shares at the same price. Make sense, lol.
Posted by bmarley5780 on :
NEWS OUT
NEW YORK, Apr 08, 2005 (BUSINESS WIRE) -- IBAC Corporation (PINK SHEETS:ICAN) today announced that they have entered into a definitive contract whereby IBAC will acquire Monarch Entertainment Group, Inc. upon the completed transaction Monarch will become a wholly owned subsidiary of IBAC. The completion and closing of the acquisition is set for April 14, 2005.
Monarch Entertainment Group is in the event management & concert production business and will assist in IBAC's ability/desire to bring top name entertainment & events to the Pine Bluff Convention Center, IBAC subsidiary National Hospitality Management holds the contract for all food, beverage & concessions at the facility and will rely on Monarch to increase traffic to the complex which also includes IBAC's other subsidiary The Royal Arkansas Hotel & Suites.
"We have decided on this acquisition to enhance our holdings and revenues in Arkansas as IBAC thru its subsidiary National Hospitality Management Services holds a (5) year contract with (4) renewable (5) year options for the food beverage, concession & banquet services at the convention center and also owns the attached hotel, this gives the company a virtual lock on all food, beverage, liquor sales, banquet operations and hotel rooms at the complex. I am very excited about this acquisition as it gives IBAC exclusive revenue from everyone eating, drinking and lodging at the entire convention center complex to IBAC, now with the acquisition of Monarch we will enjoy additional revenue from the production of events and concerts while increasing traffic, this is a very exciting time for the company as we increase our hold on revenues at the Arkansas operation," said Edward W. Hayter President.
The Pine Bluff Convention Center (www.pinebluffonline.com) has 90,000 square feet of meeting and exhibit space, the Convention Center is the fourth largest meeting facility in the state of Arkansas. This colossal center features a state-of-the-art arena, an auditorium/theater, banquet hall, spacious lobby area, ample parking, full camper hookups, a beautiful park and the Arkansas Entertainers Hall of Fame.
The Royal Arkansas Hotel & Suites is a 5 story 200 room full service atrium hotel attached to the Pine Bluff Convention Center and includes 2 restaurants a lounge and 10,000 square ft of banquet space. The estimated value of the entire complex with hotel is placed at 75M.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Copyright Business Wire 2005
Posted by Ramius on :
Alright, this should do something for us.
Posted by Jonathanlb8 on :
Nice!
Posted by Ramius on :
"completion of acquision set for April 14", dang that's next week.
Posted by Leardron on :
quote:Originally posted by Ramius: "completion of acquision set for April 14", dang that's next week.
yea, combine that with the Bonita Springs acquisition, should be an interesting week.
Posted by Doctoall on :
Come on ICAN lets see some green Posted by 4Tune4Me on :
Sounds like we are getting back on track.
Posted by going for gold on :
just getting this back in the picture still i don't quite understand why the pps doesn't go up,but i still remainig confindence in Ed
Posted by bmaxingout on :
low vloume today after two good prs this could mean that the float is drying up
good job with the prs Ed keep up the good work
Posted by dodint on :
quote:Originally posted by Ric: Well, actually the stock was diluted. It was a good dilution but they added 15% to the shares count by all means when they issue the divi's. In a normal situation the stock would decrease in value.
Now since the stock didn't decrease in value then it means it actually increased because you have more shares at the same price. Make sense, lol.
No.
The date of record isn't for another 3 weeks, which means we don't have new shares yet, which means none of what you said makes sense. We don't get our shares until May 15. Now, if the PPS is the same on May 16th as it was on May 14th, then everything you said is true.
Posted by gm on :
Well the closer we get to that date the less time the MM's have to cover their short...
Posted by bmaxingout on :
hi all here is the web site for our new entertainment group
at least as far as i could find out after doing a few searches
Posted by bmaxingout on :
here is a little info about the people that run monarch entertainment
Joseph Bongiovi/ President Prior to creating MEG, Joseph was the Vice President of Tour Alliances at Clear Channel Entertainment. He and his staff were responsible for selling and executing corporate tour alliances for CCE tours. Before joining CCE, Joseph built a premiere music licensing and marketing division at Signatures Network (formally Sony Signatures) for such properties as The Beatles, KISS, Britney Spears, Ozzy Osbourne, John Lennon/Bag One and others. --------------------------------------------------------------------------------
Todd Albertini/ Director Sales/Marketing As president of his own company, Todd Albertini was responsible for developing marketing strategies as well as maintaining international corporate alliances. A leader in sales and marketing for over eight years, he strives to develop and implement critical business plans with marketing practices. As part of MEG, Todd will continue to work exclusively in building market presence and reaching a broad range of clients.
________________________________________________
sounds pretty good good to me Good job Ed keep up the great work
Posted by bmaxingout on :
Lets take a look at what’s happened this week in ican, we received a 15% div in ican that will help us identify all of the shareholders of record and should help stop the MM’s that are naked shorting our company and suppressing the pps. We added more shares into our portfolios at no cost. I posted earlier this week that the “dollars” that the dividend represents to shareholders was aprox. 75 dollars per one million shares held AT the CURRENT pps. But if you take what I believe the pps should be and that is IMHO .03-.04 that 75 dollars quickly becomes 4,500 –6,000 dollars. That in its self pays for most of the position that I am currently holding. That said it would mean that we will be getting all of the revenues created by the newest acquisition for free. This acquisition should help keep pine bluff convention center a very busy place. And help keep our hotel full
Ed told us that he would be doing a lot of things that would bring true value to the loyal shareholders of ican .And he is doing just that.
Posted by JimMeredith on :
Great info Bmax
Posted by pennypro on :
SANIBEL STEAK HOUSE REVIEWS-BONITA SPRINGS February 9, 2004 (Re: Bonita Springs location) Had to have a reservation at a certain time, no sooner or later. When we arrived, the tables were quite empty, so we had a drink at the bar. That was fine as the bar keeps a pretty nice stock of liquors. When we sat down, the waiter was somewhat theatrical as far as his reciting of the menu, which made it a bit comical but not uncomfortable. He did give us all of the info that we needed to order, including prices. The food was excellent, as well as the presentation of the meal. The general atmosphere was excellent as well. We enjoyed the piano bar afterwards. All and all, we had a fantastic time. We would definitely go back. This was a place we had thought that we would never revisit due to very bad service the first time around about a year ago. It proves that one time does not always do justice to the whole atmosphere, 365 days a year. CW, Bonita Springs October 1, 2003 (Re: Bonita Springs location) We had an excellent dinner at The Sanibel Steakhouse, as always, and will be back. It's one of our favorite restaurants. G. Hames, Bonita Springs September 17, 2003 (Re: Bonita Springs location) "Happy Hour" offered 2 for 1 well drinks (good choice of Iceberg Vodka). Bartenders are friendly; it's easy to see why there are so many regulars. Waitress was friendly and attentive. She didn't make us feel rushed as we chose to linger a bit over our drinks. The salad (tomatoes, crumbled bleu cheese, etc.) was superb! Steaks (filet and strip) were cooked exactly as we ordered and, as always, top quality. This was a totally pleasant dinner -- with one minor exception. As we finished our dinner and wine and good conversation, our waitress seemed to just ignore our table. We waited way too long to receive a bill (while constantly trying to get her attention) and then for her to pick up and return the credit card. She seemed to be more interested in discussing wines with a couple at another table. But I would definitely go back! One little problem doesn't warrant running away. Sharon, Bonita Springs September 15, 2003 (Re: Bonita Springs location) We had dinner at Sanibel Steakhouse recently. We had two of the specials being served that evening (one was a steak stuffed and had feta cheese; it was great) and they were outstanding. Food was excellent; that included the crab cakes we had as an appetizer. Service was also good. LF, Bonita Springs September 12, 2003 (Re: Bonita Springs location) Leanne was our waitress, with Bobbi assisting. Leanne said it was her second night, but you would never know it. Both were excellent. I had Crab Stuffed Grouper and my wife had Mignon Margareta (done medium rare perfectly) and we had sides of Sauteed Mushroom Ragout and Fire Roasted Vidalia Onions. All items could not have been better. Finished with Chocolate Decadence and Kahlua Cheesecake. Ambience pleasant and interesting. SSH is a little pricey, but it is five star. GS, Bonita Springs September 12, 2003 (Re: Bonita Springs location) We had a wonderful dining experience at The Sanibel Steakhouse. We both had the NY Strips; they were perfection. We started with the Portabella Mushroom Napoleon and the Smoked Oysters. Both were delicious. We skipped the salad and instead had the Vidalia Onions and the Mushroom Ragout along with the Parmesan Potatoes with our steaks. Of course, it turned out to be too much food, so we enjoyed it again the next evening at home. The dessert tray is gorgeous, but alas, we only had room for a cup of decaf with the lovely addition of Amaretto. Finally, we have found a great restaurant that serves superb beef. We will return, often. Mike & Ellen, Fort Myers September 12, 2003 (Re: Bonita Springs location) My husband and I just returned from an early dinner at Sanibel Steakhouse. We had an EXCELLENT meal -- everything A1. Our server, Leanne, and her assistant, Bobbi, gave us very good service. We had a hard time making our choices, but I settled on the wonderful Sanibel Steakhouse salad and the rack of lamb. Bob savored his T-bone steak with the same salad and a side of roasted onions. The desserts were very tempting, but we just could not squeeze it in. The only negative: a few very annoying small flies. All in all, a VERY good experience. A bit pricey, but worth it for special occasions. JM, Bonita Springs September 11, 2003 (Re: Bonita Springs location) Yet another exceptional night out at SSH. Midweek, moderately filled with serious diners, and soft background music to make it all come together. We both indulged in perfectly prepared filet mignons. With the excellent mashed potatoes (the real thing!) and some aged Red Bordeaux to drink, the steaks didn't stand a chance of surviving our 'six years together' celebration! Amy was our server for the evening, who gave us a pleasant smile and great service. We just can't stay away from a place this good! Thanks again, SSH, see ya soon! HC, Bonita Springs September 11, 2003 (Re: Bonita Springs location) From the valet parking attendant through the dessert menu, this place is class. Fantastic ambience with a beautiful fountain sitting in the middle of a very ornate dining room. But that is the surroundings! The food is really delicious. Shrimp and lobster chowder, to kill for, started off my evening, while my better half had a great salad with a citrus vinagrette dressing. We both did the petite filet (which was hardly petite) and it was mouth-watering. Along with the filet she had the standard baked potato and asparagus, while I did the parmesan potatoes and creamed spinach. No room for dessert (although they looked great). I almost forgot to mention the great bread basket which started the meal. GREAT restaurant!!! Al, Bonita Springs September 11, 2003 (Re: Bonita Springs location) Quality at its best! Atmosphere, service, quality and quantity: superb. I had Snapper Tropical -- done to perfection and beautifully served. With this dish you don't need a dessert; it is sweet with the pineapple and plantains. My husband had the pasta dish that started with a "P"; I don't remember its name. He said it was absolutely delicious and quite a lot. We certainly didn't leave there hungry or dissatisfied. The service was delightful and attentive, but not annoying. Thanks, Sanibel Steakhouse of Bonita! Marlene and Tom, Bonita Springs September 11, 2003 (Re: Bonita Springs location) Recently a friend and I enjoyed dinner at the SSH. I had won a generous gift certificate from BonitaMenus.com. Upon entering. we found the bar a bustling area. We were seated in a beautiful room, next to a pretty working fountain. We split a yummie SSH salad of mesculin, beefsteak tomatoes, onions, Maytag blue cheese and balsamic dressing. I enjoyed a crabmeat stuffed grouper with a divine lobster sauce. The al dente asparagus were not only great but made a pretty presentation. My friend had the broiled lobster tail, and felt it was "a bit tough." Attention by management and servers was attentive but not obtrusive. Next time a STEAK! JJ, Bonita Springs September 9, 2003 (Re: Bonita Springs location) Another great dinner at Sanibel Steakhouse! This is really SW Florida's finest! Amazing service (we never have to ask for anything) along with the beautiful atmosphere (not noisy or deathly silent!) make for a great dining experience. The food is excellent with just the right touch of creativity - nothing crazy here! (Unless you want to try the elk or kangaroo! We saved that for another time!) We had the strip and also the tuna. Both were done to perfection and presented beautifully. I am a veggie nut and their 'creamed' spinach will knock your socks off! Dessert was the 'chocolate decadence' -- with two spoons! Bravo!! To slightly misquote a famous person - "We'll be baaaak!" Steve, Naples September 9, 2003 (Re: Bonita Springs location) We just got back from our dinner at the Sanibel Steakhouse in Bonita. Thank you to Scott, the manager, for the scaled gift certificate -- it was a great chance to try a new place. Our servers were courteous and attentive. The building is just amazing- and not what you would expect inside by looking from the outside. Food was delicious, although a bit expensive, especially since everything is a la carte (salads, vegetables). Definitely save room for dessert!!! They had many tempting ones -- we tried the caramel apple pie and the turtle cheesecake. Crabcake appetizer was also delicious. Although this may not become a "regular" for us, I'm sure we'll be back with company or for special occasions. KP, Naples September 8, 2003 (Re: Bonita Springs location) This was my first visit to the Sanibel Steakhouse in Bonita and I was pleasently surprised. The decor and atmosphere were elegent and the service was perfect. My wife and I both ordered the steak filet. My wife ordered hers very rare and I asked for mine to be medium and both were served exactly as we liked. Our companions ordered the strip steak and were also pleased. We both had the house Chardonnay and it was very good. I would highly reccomended this restaurant. Peter Gerbosi, Naples September 1, 2003 (Re: Bonita Springs location) This restaurant is our favorite in Bonita. Said hello to Scott, the manager, who was our waiter the first time we went to Sanibel. Service excellent, Chateaubriand melted in your mouth and the veggie selection was super. We eat out daily (wife stopped cooking when I retired) and this is the best of Bonita. We eat at Sanibel for all special occaisions. Try it, you will be impressed. Jack, Bonita Springs September 1, 2003 (Re: Bonita Springs location) I dined recently with my family and friends at the Sanibel Steakhouse. It was everything I had already heard. The ambience and food were perfect. Classy yet not stuffy (e.g., Ritz). The only thing better than the food and ambience was the service. It's been a long time since I've been made to feel so comfortable and welcome on a first-time visit to any restaurant. Thanks to Lynn and Keith for turning an already fine meal into a most pleasant experience. Nice to see pros like yourselves still out there. PR, Naples August 31, 2003 (Re: Bonita Springs location) We recently took advantage of the Sanibel Steakhouse coupon and were so happy we did. The place is elegant and quiet with professional friendly service. We ordered a shrimp & lobster bisque [which was long on taste but short on seafood] and a tasty caesar salad, both reasonably priced. One of the evening's specials was prime rib, which we both got. [19.95] It was deliciously soft, juicy and tender [cooked to a "T"]. The accompanying mashed potatoes were so fresh and real...delicious. If another coupon comes our way we'll be sure to use it. FH, Bonita Springs August 30, 2003 (Re: Bonita Springs location) Wow, what a consistently great place to dine! Last night again, the usual favorites: Filet, medium rare - perfect; Tenderloin Salad - excellent! We had Jessica as our server for the first time. She was friendly, quick, and concerned that everything was right. Scott, the manager, joined us for a glass of wine, since we just happened to bring along a bottle from his birth year! What a fun place and great people ... but first and foremost, the great array of fine food choices, pleasantly and promptly served in a very attractive atmosphere. It really can't get much better than that! We'll definitely be back! See ya, Sanibel! HC, Bonita Springs August 29, 2003 (Re: Bonita Springs location) My husband and I enjoyed dinner at Sanibel Steakhouse this week. We were first-timers there, but we will be repeat customers now! The atmosphere is lovely, and our service, provided by Keith and Lynn, was excellent. My husband had a dish featuring a trio of medallions of steak, kangaroo, and veal. I enjoyed medalions of beef with crabmeat. Our meals were absolutely delicious. The wine was reasonably priced, by the glass, and I was able to have my favorite type and brand! This restaurant offers a wonderful dining experience! DC, Bonita Springs August 29, 2003 (Re: Bonita Springs location) Excellent steak, marvelous atmosphere and great service. The decor is different from other restaurants in the area; the high ceiling really works well. The wine list is good, and the menu is varied. We dined with another couple and spent a long time in conversation, but never felt rushed. Our waitress was very efficient. The dessert tray looked beautiful - maybe next time. GM, Naples August 18, 2003 (Re: Bonita Springs location) We have dined at Sanibel Steakhouse several times, and have previously reviewed their dinner entrees, which have always been outstanding. This weekend we had occasion to try their bar menu, which features any two appetizers for $5.00. These are not the run-of-the-mill appetizers, but rather, selections such as beef tips, seafood quesadillas, fried calamari and more. We sampled the three mentioned -- all delicious. Of special note is the fried calamari -- tender and mild, not the least bit chewy. My husband says his margarita was one of the best he has had. I was pleased, being a wine drinker, to find a large selection of wines available by the glass. We can now heartily recommend both the restaurant and the lounge. MH, Bonita Springs August 5, 2003 (Re: Bonita Springs location) Our servers, Lynn and Kevin, were impeccable - attentive, but not obtrusive. Our meal consisted of two glasses of Perrier Joliet champagne, two for one ($8.95 for both glasses), and two entrees - rib eye steak and tuna. Both entrees were well prepared and excellent. The steak was wonderful, and the tuna was extraordinary. The tuna rivalled that at Roy's. The champagne was a welcome addition (we stopped at Chops City Grill on the way home for a nightcap, purchased four glasses of the same champagne, which cost $44!). We were extremely satisfied with the meal at Sanibel. Even though we acknowledge the review is for the meal, the added special savings for our cocktails was a bonus. Bravo, Sanibel Steakhouse, your reputation is well earned! Ray Faubion, Fort Myers August 5, 2003 (Re: Bonita Springs location) Another evening of total dining pleasure at Sanibel Steakhouse in Bonita. The service is always excellent (for which we thank Lynn and Keith!) The dishes are exactingly and flawlessly prepared. My filet, as usual, was a perfect medium rare and my 'partner-in-dines' Tenderloin Salad (a new menu item) was huge, (enough sliced NY strip for two, almost) and very flavorful. We continue to rate this as one of our very favorite dining meccas! We always go back, so don't even ask! HC, Bonita Springs July 25, 2003 (Re: Bonita Springs location) We greatly enjoyed our first visit to Sanibel Steakhouse last night. The Mediterranean-inspired architecture was beautiful and the service was first class. We started our meal with the rich and tasty Shrimp and Lobster Bisque. My husband ordered a filet mignon and I ordered one of the specials, which was a filet mignon stuffed with lobster. Both of our entrees were very flavorful and fork-tender. The desserts were "to-die-for!" The Chocolate Decadence, which was a flourless chocolate cake served with vanilla, chocolate and raspberry sauce was probably the best dessert I've ever had. My husband chose the Key Lime Pie and it was perfect - not too tart. We will definitely visit this restaurant again. SL, Bonita Springs and MI July 19, 2003 (Re: Fort Myers location) We just ate here on Thursday. The menu had changed and unfortunately no longer included the meal we had wanted. When we mentioned this to our waitress, she quickly noted that the chef could reproduce the meal to our satisfaction, and he did. The meals were delicious, but pricey. Salads are a la carte, too. Lin Lapierre, Fort Myers and CT June 7, 2003 (Re: Bonita Springs location) Sanibel Steakhouse in Bonita Springs is a great restaurant for celebration. But I believe that anyone would have a great experience at this restaurant, even if the occasion for dining here didn't have an excuse. (Can't we just celebrate living the good life?) I started with the Sanibel Salad. It was, as always, excellent. But my brother-in-law was eating the Beefsteak Tomato Tower, and it appeared fully loaded. Next time, that's my salad. It looked like a meal. What the rest of my family ate after, I couldn't say, because once my Atlantic Salmon was placed in front of me, my focus shifted. My alter-self waged a psychological battle with my good conscious over how much I ought to consume. I behaved, but only because the salmon made an excellent breakfast the next morning, as I knew it would. This was the third return experience for me to Sanibel Steak House. And I'm not going to miss a chance to go back again. The very best food, the very best service. I'm looking forward to the next occasion. Josie, Bonita Springs June 6, 2003 (Re: Bonita Springs location) Take Morton's, Ruth's Chris, and Del Frisco's, remove the dark atmosphere and the inability to prepare anything that does not weigh 20 lbs per serving and you have the Sanibel Steakhouse in Bonita. The high ceiling and Mediterranean arches create an atmosphere that is luxurious enough for formal dining but relaxed enough to have the conversations and laughter you only have with close friends. The service was impeccable and friendly, the wine reasonably priced, and the steak prepared exactly as ordered. The real surprise: the sides and salad offerings. The beefsteak tomato tower salad was refreshing and the balsamic vinaigrette the perfect jolt to warn my taste buds of the pleasures to come. Well done! KD, Estero June 3, 2003 (Re: Bonita Springs location) Our party of nine had a wonderful evening at the Sanibel Steakhouse. We were promptly seated, even though our group arrived separately. We were offered cocktails and given ample time to enjoy them before ordering. The servers, Lyn and Keith, were attentive and thorough. We were explained the specials, with prices, I might add ... often not included. Our meals were prepared as ordered, with a beautiful plate presentation. All steaks cooked to perfection. We concluded with numerous desserts ... enjoyed by all. The only flaw (and a minute one, I might add) was that the potatoes for one of the guests was forgotten, but promptly delivered when reminded. We had a wonderful evening ... thanks for the opportunity. Tony V, Bonita Springs June 3, 2003 (Re: Bonita Springs location) My wife and I enjoyed a great meal at the Sanibel Steakhouse in Bonita Springs. As our server poured my wife's cocktail, he apparently noticed something in the glass and immediately whisked the drink away, shortly returning with a fresh drink. We shared an appetizer of fried calamari, lightly breaded and fried to perfection. It was served with a spicy aoli, which was good, but we would have preferred an option of the aoli or a spicy marinara sauce -- or perhaps a combination of both, which we have seen at other restaurants. I ordered a T-bone steak, which was cooked exactly as I asked. My wife ordered the Steakhouse Trio, which consisted of medallions of beef, kangaroo and elk, each with its own sauce. She thought the meat was all very tasty and cooked exactly as ordered (medium rare). We also noticed that the manager stopped by each table to see if everything was ok; that was a touch that you don't see too often. Our experience was enjoyable, and we plan to visit again. Bill Trudeau, Bonita Springs June 3, 2003 (Re: Bonita Springs location) Three of us had the most wonderful meal last week. We had the petite filet mignon and baked potato and ribs with salad, etc. The service and ambience were just so much fun, and the dessert was absolutely wonderful. We had the apple pie caramel alamode and the chocolate brownie sundae, and it was delicious. Thanks! JLH, Bonita Springs May 28, 2003 (Re: Bonita Springs location) Atmosphere: amazing and enchanting! Service: our servers were the best! Always up on our every need and whim! Food: you will not go wrong here. And everything on the menu sounds so delicious. I had the filet mignon and it was to die for! Try the mushrooms too! Salads...well, I have never tasted dressings with such taste-bud tantalizers! All in all, a perfect experience, five stars from me! Barbara, Bonita Springs May 28, 2003 (Re: Bonita Springs location) This is a place that is not frequently in our budget. Our meal was great! My husband had the Halibut special (extremely tender and moist) with rice and a side of creamed spinach. I had the Grouper served over a bed of rice and corn. The Grouper may have been a tad overdone, but it may have been because it was such a large portion. For dessert, Tiramisu, very good. The service was outstanding. We had a nice conversation with our server, she was very nice. It probably goes without saying, this is a place to go. MD and TD, Bonita Springs May 28, 2003 (Re: Bonita Springs location) My companion and I started off with an appetizer aptly named colossal shrimp, served with a perfectly spiced cocktail sauce. The Sanibel Steak House salad that followed was a creative combination of sliced beefsteak tomatoes, field greens, and an exotic soy-based dressing complemented by a generous topping of crumbled bleu cheese. My companion ordered one of the evening's specials, pan-seared halibut with broccolini, served on a bed of wild rice and a delicate tomato-based sauce. I chose the Mignon Margareta, filet medallions topped generously with lump crab, accompanied by a delicious tomato-based sauce and a generous portion of mashed potatoes. We shared a fresh berry dessert; the blackberries, particularly delicious, provided a fitting ending to an exceptionally tasty dining experience. Service was impeccable, as was the Tuscan achitecture and ambiance. DC, Naples May 28, 2003 (Re: Bonita Springs location) I regret that my experience was not up to standards the night we dined at Sanibel in Bonita. The salads were wonderful, but the entrees were lacking in taste and presentation. The service was not up to par, as well. Our servers were not always available and one (I will not mention her name) was quite short and snippy with any questions we had. I had even requested to omit my potato and asked for extra vegetables in place, but to my surprise I was told that "vegetables comes with it" and when my entree arrived so did the potatoes. Maybe she was having a bad night, but unfortunately, it left a bad taste in my mouth. PN, Fort Myers May 26, 2003 (Re: Bonita Springs location) My husband and I went to Sanibel Steakhouse and enjoyed the bar specials - seared tuna and the seafood quesadillas - both very good. We also had the Steakhouse Trio platter (kangaroo, elk and filet), which was excellent, and it was interesting to try kangaroo. We also had the filet and prawns - also excellent. Our service was good, although the wait staff seemed overly formal. Lynne, Naples May 22, 2003 (Re: Bonita Springs location) Scott, the manager, greeted us at the front door and seated us. After reviewing the wine list, we ordered some merlot. We chose the Caesar and sliced beefsteak tomato salad. Both salads were good, but the beefsteak tomato salad was outstanding. For the main entree we ordered the filet mignons, which were cooked to perfect temperature. The veggies we ordered were also excellent. After looking at the assorted dessert menu, we had the traditional apple pie with ice cream, which was delicious. The food and service were both outstanding. This was our second time there, and we will definitely be back again. Bob W, Naples May 21, 2003 (Re: Bonita Springs location) I had dinner last night at the Sanibel Steakhouse in Bonita Springs. This was my first experence with the restaurant, except for some samples I had at the Taste of Collier. The restaurant was very nice on the inside and pretty classy. I had a T-bone steak with baked potato and the steakhouse salad, my friend had the filet with parmesan potatoes and a side of asparagus, as well as some chicken noodle soup. Everything was very good and the steaks were cooked to our liking. Our servers were Lynn and Keith, who did a very good job; they did not bug you, but seemed to know when you needed them. The whole evening was excellent and we would recommend the restaurant to anyone. Now that I have had their steaks, the next time I will try one of their other entrees, such as orange glazed duck or elk tenderloin. Bill W, Naples May 21, 2003 (Re: Bonita Springs location) "Here's the beef!" For prime beef in a prime restaurant, this upscale Bonita steakhouse serves tender, tasty cuts that should set the standard for steakhouses in Southwest Florida. The servers [the wait staff works in two-person teams] are outstanding: patient, knowledgeable and always there when you need anything. Marv S, Bonita Springs May 21, 2003 (Re: Bonita Springs location) Last night we went to Sanibel Steakhouse; hadn't been there for awhile. Of course, they still have all the great variety of steak preparations that are so good and reliable. We go there to have great filets. My companion had hers with mashed potatoes and I had a baked one... can't go wrong with that! The filets were prepared perfectly! They always ask if she wants hers 'butterflied', since she likes hers medium well, and it's perfect. Mine, medium rare, ditto: perfect! The steaks maintain their quality and good prices, but they've added kangaroo, some other exotic game dishes, kobe beef ($65) and caviar ($90 - Bonita on a Tuesday night or NYC on an expense account?). Quite different, but if you want that signature steak with the attractive setting and the friendly and professional staff, that's still available. The dining rooms are still their usual visually elegant attractions, but sadly, no longer do they serve their wonderful $5 seafood chowder. Nonetheless, we'll be back for the great tradition of their steak dinners. HC, Bonita Springs March 5, 2003 (Re: Bonita Springs location) This is Bonita Spring's premier steakhouse. Leave your diet at home, because eating at The Sanibel Steakhouse is an experience to be savored, not skimped on. I took my husband and our daughter here for his birthday. We started with Oysters Rockefeller and Jumbo Shrimp Cocktail for appetizers, Sanibel Steakhouse Salads for Jim and I, and then we had one of their specials that night, which was Beef Tournedos Stuffed With Crab and Lobster, (topped with shrimp in an herb sauce). I sincerely hope I didn't drool on the table cloth. The service was excellent. The staff is so professional in manner and service it's almost like seeing a show. This is a classic steak house and I can't wait to go back. Josie Kunkle, Bonita Springs February 1, 2003 (Re: Bonita Springs location) Last night my husband and I decided to stop and see what all the excitment (full parking lot) was at Sanibel Steakhouse on Hwy 41. Went to the bar and had appetizers, 2 for $5.00! Unheard of, you say......true. Excellent. Great staff. Next time we will try the restaurant ......has great ambience. A Must! Karen, Bonita Springs January 6, 2003 (Re: Bonita Springs location) There've been several reviews and comments posted here about Sanibel Steakhouse, and you'll notice they are all consistently positive. We have been going regularly since we discovered that while it is a very classy appearing structure with excellent meals, it is still surprisingly reasonable. Obviously it gets its name from its fantastic steak dinners, but the seafood lover in me just has to start with its rich and flavory Shrimp and Lobster Chowder, a true classic! The service, the quality and the pleasure of knowing that it will always be as we hoped it would be keep bringing us back. The steaks are as wonderful as you would imagine, and also the exceedingly tender and flavorful rack of lamb is "to die for." The entire staff, management and crew, are people pleasers! All the wait staff are pros, but we usually sit where Lynn and Keith are the 'wait team,' and do they spoil us! Thanks, Sanibel. We'll be back soon! HC, Bonita Springs October 25, 2002 (Re: Bonita Springs location) I wanted to find a wonderful place to take my daughter for steak and I had eaten at this restaurant once before, so it was the winner. We enjoyed a delicious meal. She had the filet and lobster special and I had my usual filet mignon. The atmosphere and service, as well as the food were just great. Thanks. It was the best. JLH September 27, 2002 (Re: Bonita Springs location) I used my gift certificate for the Sanibel Steakhouse in their bar, where they have awesome appetizers at two for $5 now. The food, drinks and company were terrific. It's a beautiful atmosphere and a super deal. KC, Bonita Springs September 3, 2002 (Re: Bonita Springs location) I went to Sanibel Steak House on 8/31. The steak was great and the service wonderful. I sat in the bar area in a little table and was totally comfortable. NB, Bonita Springs August 20, 2002 (Re: Bonita Springs location) My husband and I attended the drawing yesterday at Sanibel Steakhouse. The generosity of the manager there, Jason, was outstanding, with his offering of gift certificates for all attendees. We enjoyed very reasonable happy hour drinks at the lovely bar, then stayed for dinner. The atmosphere and food were both excellent. We both had the crab-stuffed grouper, because it is our personal favorite, but I have a feeling all the menu items are comparable in quality, because this is definitely a quality restaurant. Our fish was cooked to perfection, and loaded with crab stuffing. The Caesar salads were also excellent, and the apple pie dessert was a perfect ending to a lovely dining experience. Hats off to this restaurant and its staff, all of whom were pleasant, courteous and friendly. MH, Bonita Springs .
Posted by pennypro on :
LEVEL 2 PLEASE IM ADDING AT THESE LEVELS THANX
Posted by Leardron on :
another slow day at the office Posted by noah129 on :
added more @.0005 took a while to fill but i still am in agreement that this stock is way undervalued.this is all just my ignorant opinion but i beleive it to be true.just wait till we get some big stars coming to the convention center and they are all staying at the hotel and eating at the restaraunt.watch over the next six months to year the revs and profits will soar.
still holding strong and long good luck to all.
Posted by Leardron on :
Geez! What's up with ICAN today? Seems like alot of sales going through.
Posted by NomarKash on :
ouch. bid at .0003
Posted by Doctoall on :
quote:Originally posted by NomarKash: ouch. bid at .0003
Ouch, Ouch, Ouch !!!! What is happening with this stock Posted by going for gold on :
i think a lot of people are a kind of frustrated can't blame them, the pps doesn't really move.anyway i 've still my 14million on my account,i am personally convinced that within a year this will a good investment but for the moment it gives me a headache when i see the pps
Posted by Doctoall on :
Geez 0.0003 Posted by bmaxingout on :
imho i beleive that when ican becomes fully reporting and when the spinoff div happens we will be seeing the pps come up quickly but until then im with doctoall .0003 Geezzzz lol
Posted by Leardron on :
hopefully this is just the MMs shaking the tree trying to cover their shorts.
Posted by bmaxingout on :
i think that its time to start shaking the mm's
Posted by bond006 on :
.0003 that is something that i did not think we would see with all the positive pr i wonder like you what s going on. Posted by bmaxingout on :
the thing that gets me is in the pr put out about a group of investors looking to buy a large posistion in ican and be willing to pay upwards of .01 that we would be seeing a good jump in the pps instead its going down. i would think that between Ed buying five hundred million and this group buying a large posistion and all of the current shareholders holding that the float would be all but gone
this has got to be the work of the MM's some how we have got to find a way to make them stop shorting our company
Posted by Leardron on :
How does a company get put on the SHO list? Is that something the SEC does?
Posted by Jonathanlb8 on :
My guess is that Ed and the so called " Group " ar eplaying with the price. Which would make sense. Being that they would have the most to gain from the price going down. The Price goes down, then they get to buy at a cheaper price. Then they come out with huge News and bam, Ed just made a considerable amount more, just by buying at a lower price. Might be why he's holding off on the Really Good news. Wants to buy up some more at these cheap prices. JMHO.
Posted by bmaxingout on :
quote:Originally posted by Jonathanlb8: My guess is that Ed and the so called " Group " ar eplaying with the price. Which would make sense. Being that they would have the most to gain from the price going down. The Price goes down, then they get to buy at a cheaper price. Then they come out with huge News and bam, Ed just made a considerable amount more, just by buying at a lower price. Might be why he's holding off on the Really Good news. Wants to buy up some more at these cheap prices. JMHO.
now that is the most ridiculous thing that i have heard so far.if Ed were to do something like that it would put him in prison with martha.Ed is alot smarter then that. just listen to what you are saying.Ed has been in business for a long time. He has alot more to lose if the price goes down.Part of what a CEO does is try to bring the price of his companies stock up.And with the prs that he has been putting out the pps should be going up. This has more to do with the MM's than anything else.and he has told us that he will be doing everything in his power to bring the pps up and end the naked shorting that has been going on. If ed were to be trying to bring the pps down then he is doing it the wrong way. You dont bring the price down by telling us of record revs. or new mergers.
Posted by Ric on :
They get the information from the TA or financial report if they file. But since this one will not release the information as instructed by the company then they can not get the information for the SHO. Besides, a lot of people see a very huge problem with companies that hide the o/s by gagging the Transfer Agent. That doesn't help pps either.
quote:Originally posted by Leardron: How does a company get put on the SHO list? Is that something the SEC does?
Posted by Leardron on :
quote:Originally posted by Ric: They get the information from the TA or financial report if they file. But since this one will not release the information as instructed by the company then they can not get the information for the SHO. Besides, a lot of people see a very huge problem with companies that hide the o/s by gagging the Transfer Agent. That doesn't help pps either.
quote:Originally posted by Leardron: How does a company get put on the SHO list? Is that something the SEC does?
I agree with you there. Ed really needs to do something about that.
Posted by Leardron on :
Ugly, Ugly, Day. Hope Ed puts out the PR about the acquisitions soon.
Posted by bmaxingout on :
Leardron, up coming prs should be as follows, as per past prs
4-14-05 closing of monarch entertainment group 4-15-05 closing of bonita springs 5-1-05 distrubtion of 15% stock div speical spin off divs by the end of the second quarter become fully reporting
Posted by amanick1 on :
patience
Posted by Jonathanlb8 on :
So ICAN is going to the OTCBB's? I thouhgt just the spinoff dividend was going to be a Bulliten Board. Please help me out guys. I'm confused. Are we still getting a dividend in the form of a fully reporting spinoff? Or did they change their mind and just make the 15% our dividend?
Posted by mikensay on :
I read the PR as a "reward" for those who hold the stock. I think there are two things hapening. One, the 15% distribution and Two, the spin off. However, I would have rather seen ED pull a few shares off the table.
I would think if the stock wasn't to be part of the fully reporting spinoff, this would have happend after the spin.
I'd like to see some dialogue on this too.
Posted by bmaxingout on :
Dated Jan 4 2005 Through its operating companies, IBAC Corporation owns/operates and manages restaurants & food and beverage service contracts; the company intends to become a fully reporting company by the end of the second quarter of 2005 with a balance sheet directed towards the nasdaq small cap. _________________________________________________
NEW YORK, Mar 09, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets: ICAN) announced today that they will be meeting with counsel to discuss the best and final strategy of the sale/merger of one or all of IBAC's subsidiaries to a fully reporting, OTCBB listed company. "We will be meeting with specialists and counsel in the coming weeks to finalize the most effective way to complete the sale/merger and dividends distribution," said Edward W. Hayter. "Our company is experiencing exceptional growth and will continue to strive towards maximum value for our shareholders."
_________________________________________________
now what I get from these two prs is that ican AND the otcb will be fully reporting. if anyone has any other info on this matter I would love to hear it but for know I am expecting that both symbols will be fully reporting
Posted by Leardron on :
Here is the scoop from interviews with Ed and from the PRs. The 15% dividend is just a reward for the share holders of ICAN and has nothing to do with the plans to spinoff ICAN assets to the fully reporting OTCBB stock. Ed is still going to spin off assets to the OTCBB stock which everyone that holds ICAN will get shares of once it is complete. Ed said the pps of the current OTCBB shell, that he is going to spin the assets off to, was trading at $2.00 per share. When he does the spinoff, he wants to try to maintain a good pps for the stock (he said at the lowest .50 per share) so I am assuming you are going to see a big ratio between in the dividend. I would say at least 1 share of the OTCBB stock for 100 shares of ICAN. Could be even more but that is just my opinion.
The assets that are spun off is expected to be the Sanibel Restaurants. That makes the most sense because he has said he wants to expand the Sanibel brand through Joint Venturing and wants to start in the East Coast by opening at least 10 restaurants in this section of the US in major cities and then doing the same in the mid-west and then finally in the West Coast.
Once the spinoff is done, ICAN will still have value because it will still contain the Arkansas Hotel and Convention center as well as the entertainment company he is acquiring. It seem he is going to use ICAN as kind of a staging area for newly acquired assets to maybe spinoff at a later date. ICAN, however, will not be a fully reporting company but all the spinoffs will be. He has said that he wants to have the spinoff completed by the end of the 2nd quarter which is a little over two months away and that is where I feel the big money is.
Posted by bmaxingout on :
leardon thanks for clearing that up that does make alot of sense. that way ican can keep doing business without the expenses of reporting. i still say that i would love to see icans balance sheet, with that insight i beleive that i would be doubling my posistion in ican before the price jumps. well thanks again and good luck to us all
Posted by gm on :
Well I added another 1.5 milion shares today...
Posted by Mack on :
trying 2 buy more @ .0003
Posted by tyedye on :
I have read this entire post, and DD'd this stock practically to death and... this company looks great!
Anyone think that this is still worth getting in @0.0003? or 0.0004?
Posted by Mack on :
Im buying as much as ican @ these prices
Posted by Leardron on :
quote:Originally posted by tyedye: I have read this entire post, and DD'd this stock practically to death and... this company looks great!
Anyone think that this is still worth getting in @0.0003? or 0.0004?
I would definitley get in at these prices. Great deal at this point. I think the MMs are playing big time with this one. It seems weird that this one dropped to this level almost within days of the dividend being reported and it was at the .0006 level for weeks. Personally I think the MMs are trying to cover their shorts before the dividend.
Posted by Leardron on :
The only other thing I can figure is that people are misunderstanding the 15% dividend thinking that he has abandoned the spinoff which isn't correct. This is in addition to the spinoff.
Posted by Jonathanlb8 on :
I was a firm believer before, but nhow it is time to jump ship. This one is tanking fast!
Posted by Jonathanlb8 on :
Think about it guys. Why buy now at .0003 if you can wait for it to hit .0001 which looks to be soon. I've lost alot on this POS now. Have to take my losses and move on. Alot of empty promises from ED. Think something fishy is going on.
Posted by Doctoall on :
News will come today, so I am hanging in there with my free shares Actually have a buy order in for more at these prices. I have faith in ED and there is no doubt this will turn around.
Posted by Leardron on :
quote:Originally posted by Jonathanlb8: Think about it guys. Why buy now at .0003 if you can wait for it to hit .0001 which looks to be soon. I've lost alot on this POS now. Have to take my losses and move on. Alot of empty promises from ED. Think something fishy is going on.
I would like to know what promises he has made that he hasn't come through on? I love when people aren't made millionaires overnight that they say the CEO hasn't come through on his promises. I haven't seen one promise he has made yet that hasn't come through. The problem is that people aren't patient enough to wait for the dates that he has already layed out.
Posted by Jonathanlb8 on :
News might come, but look what recent news has done. Nothing. Heck even went down on good news one day. Not worth all the frustration. Further and further away from that .01 everyone was talking about.
Posted by going for gold on :
i agree with doc,some mm playing,question for jonathan,empty promises from ed,what are you reffering to,i think he has been verry honest,so i would say,if you can't the heat,go away anyway still my 14m on my account Posted by Leardron on :
quote:Originally posted by Jonathanlb8: News might come, but look what recent news has done. Nothing. Heck even went down on good news one day. Not worth all the frustration. Further and further away from that .01 everyone was talking about.
That's fine if you want to get out because don't want to wait anymore and can't stand see the pps drop (I can't either) but don't make statements about the CEO that aren't true just because you are mad at the current pps.
Posted by Jonathanlb8 on :
14 mil? Sorry to hear that. It'll take you awhile to sell all of that off when it tanks more.
Posted by newbie do on :
quote:Originally posted by Jonathanlb8: 14 mil? Sorry to hear that. It'll take you awhile to sell all of that off when it tanks more.
I hear your mommy calling you. Now go play like a good boy and leave the grown up stuff to the rest of us.
Posted by Jonathanlb8 on :
Grown ups? I'm 29 and have been trading for the last 10 years. Now how about you guys stop dreaming and get back into reality. I'm not trying to bash, but just open up your eyes. Heck I have over 7 mil shares still in this. I already made alot when I bought at .0002 and sold at .0008 a while back. These are pretty much free shares I'm dealing with now.
Think about it this way. When it was at .0008 you could have sold and bought back in at current .0003. Now it's at .0003. Why not sell and buy back in at .0001. .0001 to .001 is 1000%. .0003 to .001 is only 333%. Do the math. I have no doubt this will pass .001 again, but it most likely won't be for awhile.
Posted by Leardron on :
quote:Originally posted by Jonathanlb8: Grown ups? I'm 29 and have been trading for the last 10 years. Now how about you guys stop dreaming and get back into reality. I'm not trying to bash, but just open up your eyes. Heck I have over 7 mil shares still in this. I already made alot when I bought at .0002 and sold at .0008 a while back. These are pretty much free shares I'm dealing with now.
Think about it this way. When it was at .0008 you could have sold and bought back in at current .0003. Now it's at .0003. Why not sell and buy back in at .0001. .0001 to .001 is 1000%. .0003 to .001 is only 333%. Do the math. I have no doubt this will pass .001 again, but it most likely won't be for awhile.
I am not sure this is going to go down to .0001. Not saying it definitley won't but I don't think since Ed took over that this stock was ever at .0001 so why would it go there now. I, like you, got in at .0003 and sold at .0007 and am working with mostly free shares now but I, also like you, got in when it was at it's lowest point. It was at like .0002 ask and a .0004 bid. That was the lowest I ever saw it. I think if you can get in now at .0003 you will be in great shape.
Posted by NomarKash on :
Bid hit .0001 once back at the end of '04. The ask never fell below .0002. We won't see levels below .0002 again IMO. If you don't have the stomach for this stock then bye bye, but we are not dreaming. We are just sitting tight waiting for reality to kick in.
Posted by NomarKash on :
....
Posted by 4Tune4Me on :
I don't think faith should have anything to do with stocktrading. Decision making should be based on fact - hard numbers and information. IMO the pps is down because:
1) this dividend amounts to no more than dilution {a big no-no in the penny game}. 2) ICAN is not fully reporting as yet 3) Ed's almost identical announcement to QBID's that there is a group of investor's interested in buying up to .01 4) Ed never mentioned a potential dividend situation in any previous discussions. (Why?) 5) Ed never disclosed that ICAN would be buying Monarch Entertainment who, and I'm guesing, possibly has previous contract to provide same services - otherwise why buy?
Investors don't like suprises. They like fully reporting whether it's financials or pr's.
Posted by bmaxingout on :
well as far as Ed goes he has come through on everything that he said he would do.he cant stop the mm from doing what they are and we all now that.when i put my cash into a stock i dont jump with every wiggle in the market.I buy and hold two years ago i bought into a company omog at rock bottom price i am now about to close that posistion with a very tidy profit i plan on doing the same with this one.so many are concerned with the recent price drop that they are ready to jump ship.all i can say is go ahead and jump that should help push the price down further i am personaly almost praying for .0001 i will be tripling my posistion as soon as it does. dont get me wrong im saying that i would buy at this price im hoping that it goes down more. might sound crazy but when you know that you have a winner buy all you can. i dont might mind waiting for a several thousand percent gain ive said it before this one would make warren buffet very proud
buy large and hold lets shut out the daytraders
Posted by Leardron on :
quote:Originally posted by 4Tune4Me: I don't think faith should have anything to do with stocktrading. Decision making should be based on fact - hard numbers and information. IMO the pps is down because:
1) this dividend amounts to no more than dilution {a big no-no in the penny game}. 2) ICAN is not fully reporting as yet 3) Ed's almost identical announcement to QBID's that there is a group of investor's interested in buying up to .01 4) Ed never mentioned a potential dividend situation in any previous discussions. (Why?) 5) Ed never disclosed that ICAN would be buying Monarch Entertainment who, and I'm guesing, possibly has previous contract to provide same services - otherwise why buy?
Investors don't like suprises. They like fully reporting whether it's financials or pr's.
1- I agree with that piece as far a dilution. 2- Ed never said the ICAN was going become fully reporting in any of his interviews. He has always said he is going to roll assets over. Also, he said he would like it done by the end of the 2nd QTR so there is no surprise there that it has't happend yet. 3- I agree on this one. Not sure what Ed was thinking there and I think Ed realized his mistake. 4-Why would he have to mention a dividend situation. That's the whole point of the PR. 5- Ed did mention over a month ago in his interviews that they were in talks to acquire an entertainment company to help bring in shows to the convention center and the possibility of other centers he might acquire. So there is no surprise here if you kept informed.
So all in all the only one out of the list that was totally stupid and that was number 3 and I think Ed learned his lesson. Number 1 will be a dilution but it is only 15%. That isn't that big in the grand scheme of things.
Posted by 4Tune4Me on :
Hi Lestat, I did not say that Ed said ICAN would be fully reporting. I said ICAN is not fully reporting. Why acquire an entertainment group when you have already created the Royal Entertainment group? I'm trying to understand why pps has dropped significantly.
Posted by bond006 on :
i am with you leardron this ceo has so far done everything he said he would. the things he did without saying anything were positive things we are onle a short time away from seeing these things pan out. if the plan goes as it has been spelled out to us it will make us money. i only wish that i would have done dd a lot earlier. as far as ed plan goes you can only judge the future by a persons past record. personally i am getting more at these prices
Posted by Leardron on :
quote:Originally posted by 4Tune4Me: Hi Lestat, I did not say that Ed said ICAN would be fully reporting. I said ICAN is not fully reporting. Why acquire an entertainment group when you have already created the Royal Entertainment group? I'm trying to understand why pps has dropped significantly.
Well, I think you hit the nail on the head with number 1. Look at what has happend. the pps was hanging at .0005 and .0006 for a couple of weeks before he announced the dividend. Within 1 week of that announcement the pps has dropped. I think two things are happening. One is, like you pointed out, investors are seeing it as a dilution. The second one is that I think alot of investors are confused with the fact that this dividend is not the dividend that everyone has been talking about and waiting for and are bailing because they think this is the dividend that everyone has been talking about and that Ed is not going to do the rollover. That is why he ended up putting out the second PR explaining that this dividend has nothing to do with the plans of doing the rollover that the rollover is still happening.
Posted by Leardron on :
To answer you question on why buy and entertainment company when he already has a division created is because he said in an interview that he was in talks with a production company to add to the entertainment division that was already formed. Monarch must have been that production company that he was talking about. The current entertaiment division that Ed formed was purely for going out and booking shows for the convention center complex. Why he bought Monarch is because Monarch produces and creates their own shows. That is what Ed wanted to do was buy a company that produces and puts on their own shows for the convention center and any other future ventures he might get into.
Posted by bmaxingout on :
as far as im concerned with respect to the purhase of monarch is this is one of the best moves that Ed could have made. now we have a much better chance of keeping the convention center busy. it would also do alot to keep the hotel full, both generate good cash flow for ICAN.the bonus here is that monarch brings in good connections within the entertainment feild. Monarch has good relations with many top proforming artist. this is not only good for pinebluff it is good because of the revs created by monarch anywhere that they set up shows.IMHO this is getting the biggest bang for the ICAN dollar. I say great move ED keep up the good work
Posted by 4Tune4Me on :
Ahh, I was under the impression that Royal and Monarch were redundant.
Posted by bmaxingout on :
well JMHO but i also think that there is some redundantsy but i would also think that at some point they would be combined please remember no facts to back that one up JMHO
Posted by Mack on :
couldnt get jack @ .0003 all day so i just picked up more @ .0004 that went through right away
Posted by bmaxingout on :
well mack if you couldnt get jack at .0003 then there is a pretty good chance that i wont get "squat" at .0002 lol
Posted by Mack on :
thats true so i said screw it and got some @ .0004 and if it drops anymore ill pick up all ican
Posted by bmaxingout on :
by the way has anyone heard from "stockguy123" he was fun to play with
Posted by Mack on :
im sure stockgirl123 is lerking around watching what is typed about her
Posted by NomarKash on :
i love ican at these levels, i accumulate all day long!!!
Posted by Ramius on :
wasn't this @.0007 two weeks ago?
Posted by 4Tune4Me on :
Stockgirl morphed awhile back into a newbie with a sincere interest in learning all it could.
Posted by Jonathanlb8 on :
quote:Originally posted by 4Tune4Me: Stockgirl morphed awhile back into a newbie with a sincere interest in learning all it could.
Huh????
Posted by Doctoall on :
quote:Originally posted by Mack: im sure stockgirl123 is lerking around watching what is typed about her
Got banned from Allstocks Posted by Mack on :
lol i wonder why!!!
Posted by Mack on :
probably under another name and email, i rem how he types ill know if its him or not...
Posted by homer_0 on :
so whats going on w/ ICAN! right now I see .0003
Posted by Doctoall on :
quote:Originally posted by homer_0: so whats going on w/ ICAN! right now I see .0003
Ican has become Nocan Posted by Leardron on :
Does anyone here know the new password to Macros Biz on Pal Talk? Trying to see if they have heard anything from Ed.
Posted by bond006 on :
if i knew i would tell you i have looked all over the web and did not see anything as far as the last 2 days go i am red on almoct everything. so i don"t think anything is espcially worng with ican
Posted by homer_0 on :
Yea, I've been seeing red last week, and this week...
Posted by Mack on :
i see alot of green on tnog
Posted by gm on :
quote:Originally posted by Leardron: Does anyone here know the new password to Macros Biz on Pal Talk? Trying to see if they have heard anything from Ed.
The password is still the same ICAN
Nice stuff is discussed there most of the time...
Posted by gm on :
I still had an order in today from yesterday at .0003 (GTC)...and I also put another one in this morning...aand still no fill... What does all this tell you?
I also put an order in at .0004 and they filled me at .00039...very weird...
Posted by Doctoall on :
April 14, 2005 02:46 PM US Pacific Timezone
IBAC Corporation Completes Acquisition of Monarch Entertainment Group Worldwide, Inc.
NEW YORK--(BUSINESS WIRE)--April 14, 2005--IBAC Corporation (PINK SHEETS:ICAN) today announced that they have completed the acquisition of Monarch Entertainment Group Worldwide, Inc. Monarch is now a wholly owned subsidiary of IBAC.
Monarch Entertainment Group Worldwide is in the event management & concert production business and will assist in IBAC's ability/desire to bring top name entertainment & events to the Pine Bluff Convention Center, IBAC subsidiary National Hospitality Management holds the contract for all food, beverage & concessions at the facility and will rely on Monarch to increase traffic to the complex which also includes IBAC's other subsidiary The Royal Arkansas Hotel & Suites. The company paid cash & stock for this acquisition.
"We like this acquisition as it will enhance our holdings and revenues in Arkansas IBAC thru its subsidiary National Hospitality Management Services holds a (5) year contract with (4) renewable (5) year options for the food beverage, concession & banquet services at the convention center and also owns the attached hotel, this gives the company a virtual lock on all food, beverage, liquor sales, banquet operations and hotel rooms at the complex. I am very excited about this acquisition as it gives IBAC another revenue stream by producing concerts & events at the complex. The company already receives exclusive revenue from everyone eating, drinking and lodging at the entire convention center complex, now with the acquisition of Monarch we will increase traffic to the complex, this is a very exciting time for the company as we increase our hold on all revenues generated at the convention center complex," said Edward W. Hayter President.
The Pine Bluff Convention Center (www.pinebluffonline.com) has 90,000 square feet of meeting and exhibit space, the Convention Center is the fourth largest meeting facility in the state of Arkansas. This colossal center features a state-of-the-art arena, an auditorium/theater, banquet hall, spacious lobby area, ample parking, full camper hookups, a beautiful park and the Arkansas Entertainers Hall of Fame.
The Royal Arkansas Hotel & Suites is a 5 story 200 room full service atrium hotel attached to the Pine Bluff Convention Center and includes 2 restaurants a lounge and 10,000 square ft of banquet space.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contacts
IBAC Corporation Investor Relations, 718-891-8188 Fax: 775-320-5437
Posted by imakmony2005 on :
This should give us a little green in the AM.............
Posted by Leardron on :
Whew... Ed had me a little worried there when there was no PR on this but he came through as usual. This probably means we won't see the Bonita Springs acquisition PR until after the closing bell tomorrow either. Oh well, should make for a good Monday Posted by Ramius on :
I hope this does a little something for the pps.
Posted by Jonathanlb8 on :
Me too!!!
Posted by Jonathanlb8 on :
I think alot of the reason why we are getting news without a rise in PPS is the manner in which the PR's are put out. They don't command attention. There is alot of better ways to word these recent PR's, that would garner more attention from buyers.
Ed... Hire someone to put out these PR's that has some history in advertising or something.
The news up to this point has all een positive, but to me just doesn't seem that appealing when read.
Let me know if any of you also feel the same way.
Posted by going for gold on :
i think someone is really dumping shares,hate to see it
Posted by bond006 on :
well if somebody is dumping i have been trying toget filled at .0003 for two days can't seem to get it done is anybody eles having trouble
Posted by Leardron on :
quote:Originally posted by bond006: well if somebody is dumping i have been trying toget filled at .0003 for two days can't seem to get it done is anybody eles having trouble
Haven't been trying to buy more but that does seem weird. Could be the MMs selling to each other to drive the price down so they can cover their shorts. I really, really wish they would drop the gag order on the TA.
Posted by gfowler1 on :
I got my 5mil filled this am at .0003, though I have had the order in since Tuesday
Posted by Doctoall on :
Lets gets ome positive upward movement today Posted by dentguy on :
quote:Originally posted by gfowler1: I got my 5mil filled this am at .0003, though I have had the order in since Tuesday
I HAVE A BUY ORDER SET @ 0003 NEVER FILLED, ITS ONLY FOR 200,000? ANYBODY ELSE NOT GET THEIR FILL?
Posted by bond006 on :
i am with you up up up and away ican just got filled but i changed to .0004
Posted by Leardron on :
quote:Originally posted by Doctoall: Lets gets ome positive upward movement today
I think we will get some positive movement when he announces the Bonita Springs acquistion but I don't expect that till after the bell again.
Posted by bond006 on :
whats the difference today or monday just more time to buy some more. go ican
Posted by bmaxingout on :
i have a buy order in at .0003 since wed and no fill yet
Posted by bond006 on :
same with me i said the heck with it and bumped myself to .0004 and it went almost as soon as i hit the place order button some thing is up
Posted by Jonathanlb8 on :
I don't think this is heading anywhere but down, atleast until they announce the OTCBB dividend. Then we'll probably only get up to .0007, which won't cover most of the folks that bought in at .0008 or higher. Either way. I'm playing with 3mil in free shares. Hope it hits atleast .0006 again. Think I'll sell then. It was a nice run while it lasted.
Posted by Mack on :
got filled @ .0003 this morning
Posted by bmaxingout on :
quote:Originally posted by Mack: got filled @ .0003 this morning
sure wish that i could get filled at .0003 but by the end of next week i think that i will be adding shares up to .0005 i want to capitilize on as much of the div as i can
i just love free shares
Posted by mikensay on :
Oye! I'm gussing since it just dropped to .0002 there will be a rush of orders filled at the .0003 level and then bounce. crossing my fingers I could use at least one good day this week.
Posted by bond006 on :
i guess i should have waited i think .0003 is a very good possiblity now although i wish it would not have been this way
Posted by Leardron on :
quote:Originally posted by Jonathanlb8: I don't think this is heading anywhere but down, atleast until they announce the OTCBB dividend. Then we'll probably only get up to .0007, which won't cover most of the folks that bought in at .0008 or higher. Either way. I'm playing with 3mil in free shares. Hope it hits atleast .0006 again. Think I'll sell then. It was a nice run while it lasted.
I think it will hover around here for a while until the divy is announced. It might have some bounces between now and then up to .0005 or .0006 with acquisition news and monthly revenue reports but I think it will break the .001 barrier when the divy is announced. Also, if they ever lift the gag order on the TA that would give it a big boost too.
Posted by bond006 on :
well at least i got my average per share down today
Posted by Jonathanlb8 on :
Just saw .0002. Have had my sell for 1.5 mil shares at .0004 in all day. No fill. This one is really starting to suck.
Posted by bond006 on :
right along with my pps
Posted by bond006 on :
ok guys there is only one way to go now its time lock and load and count what you got. we are getting ready to move by the bell. go ican go
Posted by mikensay on :
quote:Originally posted by Jonathanlb8: Just saw .0002. Have had my sell for 1.5 mil shares at .0004 in all day. No fill. This one is really starting to suck.
Yeah, it's not looking good right now but as long as the PR's are accurate, we should see it bounce next week. How many shares do you have left? last week it was 7mil. Thought you were waiting for .0006 to dump the rest.
Posted by 4Tune4Me on :
Hold on tight, it's going to be a bumpy ride.
Posted by bond006 on :
seat belt is on and the door is locked
Posted by Leardron on :
Just some info I heard over on Pal Talk. Some of the guys talked to Ed and it seems like the Bonita Springs acqusition might be delayed. They didn't say if there would be a PR about it or not. On some good notes it was reported that Ed has so far bought back 340 million of the 500 Million shares he is buyin and will put out a PR once it gets to 500. They were saying there is going to be some good PRs coming out within the next week so we will see.
They also said that the retirement of 10 Billion of the Authorized shares was completed according to Ed. Now I would have thought that would have been something he would have put in a PR but I guess not. I told them the next time someone talks to Ed that he should put that out in a PR.
All in All it appears that ICAN is being naked shorted according to Ed since the Float has been pretty much bought up and being held.
I guess we will see. Again this is 2nd hand information I got from someone that talked directly to Ed and I trust this person. I guess just grin and bear the current pps. Good things will be coming.
Posted by bmaxingout on :
darn mm's, the pps drops all the way down to .0002 and i still dont get filled at .0003
whats up wth that
Posted by dentguy on :
quote:Originally posted by bmaxingout: darn mm's, the pps drops all the way down to .0002 and i still dont get filled at .0003
whats up wth that
yeah, know what you mean, still no fill on my measley 200,000.... but that's a good sign
Posted by bond006 on :
thanks for the info leardron
Posted by Doctoall on :
What is happening with the PPS tanking? Posted by Leardron on :
quote:Originally posted by Doctoall: What is happening with the PPS tanking?
Actually from what I heard part of it is the dividend. The MMs have already made the adjustment for when the 15% dividend is going to be paid out. That is why it dropped so much right after the annoucement.
Posted by Doctoall on :
quote:Originally posted by Leardron:
quote:Originally posted by Doctoall: What is happening with the PPS tanking?
Actually from what I heard part of it is the dividend. The MMs have already made the adjustment for when the 15% dividend is going to be paid out. That is why it dropped so much right after the annoucement.
Makes sense but I like the higher PPS Posted by gm on :
quote:Originally posted by bmaxingout: i have a buy order in at .0003 since wed and no fill yet
same here...
Posted by Mack on :
i put a buy in this morning @ .0003 and it went right through??
Posted by gm on :
Don't know what to tell you... I have this order in since Wednesday ang still can not get filled...also 2 buddies
Today at least 10 people that I know on Paltalk tried an order in at .0003 and still no fill...
Posted by imakmony2005 on :
Next week are im thinking sell and move on.
Posted by Jonathanlb8 on :
Me too. I've been thinking it for awhile now. I've had my sell in at .0004 for the last 3 days, but nothing filling. Ed is taking way to long. Besides, if the co was legit as he says, he'd just bring ICAN to the BB's, and stop fooliing around. Especially, dealing with the gag on the TA. What's the deal with that. Doesn't want folks to know the O/S if you ask me. Probably alot higher than he has been stating.
Posted by gm on :
Yeah it may be betterif people that do not beleive in this company to sell and move on...there are many buyerswaiting to pick up those shares...
As far as you not being able to aell at .0004 hahahhaaaa, I bought on Thursday 4 milion shares and Friday 10 milion shares at .0004...
If you really could notsell at .0004 I would suggest that you change your broker...
Posted by imakmony2005 on :
Its not that i do not beleive in the company, its time and new companys, i want movement dont care up down just move ill get stoped out or hit my sell just trading.that all........
Posted by Doctoall on :
This stock will move soon enough and those who have weak hands should sell. Just remember after your weak hand sells it will be followed with a sore butt after you kick yourself.
Long and holding here and accumulating at these prices, be a fool not to Posted by Mack on :
holding this till the fat lady sings lol
Posted by Doctoall on :
quote:Originally posted by Mack: holding this till the fat lady sings lol
And to think that they have not even placed an ad in the paper for her yet
GO ICAN
Posted by Mack on :
looking forward to may 1st time period
Posted by Ric on :
One thing I do find interesting is that both .0002 trades were for 333,333. The reason that I find this interesting is a 300 signal is a MM wanting to bring down the price so they can get more shares cheaper. Could they be hiding signals now so investors don't pick it up and these were 300 signals? Just a thought.
Posted by bond006 on :
i wouldn't put anything past the bums
Posted by gm on :
quote:Originally posted by Doctoall: This stock will move soon enough and those who have weak hands should sell. Just remember after your weak hand sells it will be followed with a sore butt after you kick yourself.
Long and holding here and accumulating at these prices, be a fool not to
Exactly Doctoall...
Posted by Mack on :
I THINK ICAN
Posted by Doctoall on :
It will, I know ICAN Now lets have a great day, so do we get a forward PR today? Posted by Mack on :
dont see anything yet...
Posted by noah129 on :
anyone getting filled at .0003 been trying all morning no fills?
Posted by Mack on :
got filled the other day @ .0003 got it quick
Posted by amanick1 on :
good time to buy thats for sure
Posted by Jonathanlb8 on :
I've been trying to sell at .0004 for the last week. Think about that before you buy at .0003. Makes no sense to buy what you won't be able to get rid of.
Posted by Mack on :
jon thats a sign for u not to sell might be good 4 ya!!!!
Posted by Col. Cornhole on :
quote:Originally posted by Jonathanlb8: I've been trying to sell at .0004 for the last week. Think about that before you buy at .0003. Makes no sense to buy what you won't be able to get rid of.
You're not going to sell at the ask. try selling at the bid .0003
Posted by bond006 on :
i have no trouble buyin at .0004 somebody's selling it ha ha. go ican go
Posted by bmaxingout on :
i got filled today at .0004 but still nothing at .0003 i also have an order in for .0002 good luck with that one huh lol
good luck all, and remember buy large and hold lets shut out the day traders and swingers
Posted by bmaxingout on :
has anyone heard what the deal is with the closing of bonita springs thought that we would have heard something by now on why it has been delayed
Posted by Leardron on :
quote:Originally posted by bmaxingout: has anyone heard what the deal is with the closing of bonita springs thought that we would have heard something by now on why it has been delayed
I don't think Ed was going to put a PR out about it. From what they said over on Pal Talk, Ed didn't expect it to be delayed that long. Sorry that's all I know. If you have a chance, get Pal Talk and go to Macros Biz group. They might be able to tell you more.
Posted by Mack on :
holding pretty good @ .0004
Posted by dodint on :
I'm still here, and holding. I'm leaving the internet (and trading) for 3 months on May 26th, so if nothing happens by then I'll be a solid hold until September. Kinda risky, but I figure it has no where to go but up, so maybe I'll be pleasantly surprised when I get back. It'd be nice to see it move a little before I go, though.
Hopefully I'll come back with ican over .001 and some OTC:BB stock in my holdings. Posted by Leardron on :
quote:Originally posted by Mack: holding pretty good @ .0004
Yea, plus the Bid was back up to .0003 for the majority of the day except first thing this morning.
Posted by pennypro on :
WATCH FOR NEW ACQUISITION. IT WILL PUT ICAN IN ANOTHER LEAGUE.
Posted by Col. Cornhole on :
quote:Originally posted by pennypro: WATCH FOR NEW ACQUISITION. IT WILL PUT ICAN IN ANOTHER LEAGUE.
And we know this because????????
Posted by Leardron on :
IBAC Corporation Board Approves 300,000,000 Share Company Buyback Program
NEW YORK, Apr 19, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN:PK), a Hospitality, Restaurant, Food & Beverage Service, and Entertainment Holding Company. Today announced that its Board of Directors has approved a program for open market stock repurchases through September 30, 2005 (By the end of the third quarter) for up to 300,000,000 shares of its stock at prevailing market prices and in accordance with applicable securities laws. Edward W. Hayter, IBAC's Chairman of the Board commented, "The Board of Director's believes IBAC's shares are way undervalued and represent an attractive investment to the company at this time." IBAC also said in a previous statement the company declared a special dividend of 15% of its outstanding common shares only; this will not include payment on management held shares. The shareholder of record date is May 1, 2005 for this special dividend and will pay all common shareholders 15 shares for each 100 owned with odd lots being rounded up.
"Our overall goal is to enhance shareholder value while reducing the outstanding shares of the company," said IBAC's Chairman Edward W. Hayter. "Our solid performance, strong outlook and robust cash flow, create these two excellent opportunities to return value to all our shareholders while investing to grow profitably in the future."
This action is separate from Mr. Edward W Hayter's ongoing buyback of up to 500,000,000 shares for his personal portfolio (Recently Announced) that is nearing completion and will be announced at the time of completion.
This press release contains forward-looking statements regarding current expectations, risks and uncertainties for future periods. The actual results could differ materially from those discussed herein due to a variety of factors such as changes in customer demand for its products, cancellation of certain agreements by significant customers, material increases in the cost of inventory, competition in the Company's businesses, or an inability of management to successfully reduce operating expenses in relation to net sales without damaging the long-term direction of the Company. The Company assumes no responsibility to update the forward-looking statements contained in this press release.
Posted by Leardron on :
Well Jonathan, You should be able to get out after this news. I will buy your shares Posted by Doctoall on :
Nice PR, glad I topped up yesterday Posted by Jonathanlb8 on :
I just got out. Sold 5 million shares. Nice day for me. I thought I'd never be able to get rid of it.
Posted by Leardron on :
quote:Originally posted by Jonathanlb8: I just got out. Sold 5 million shares. Nice day for me. I thought I'd never be able to get rid of it.
Well, good luck to you.
Posted by Jonathanlb8 on :
No offense guys, but with the way the news is coming out from Ed, I'm just going to wait for the Divi News to come. Then jump in and out for the quick gain.
Posted by Doctoall on :
quote:Originally posted by Jonathanlb8: I just got out. Sold 5 million shares. Nice day for me. I thought I'd never be able to get rid of it.
Good luck to you. I am here for the long run and run ICAN will Posted by Leardron on :
at .0006! Looks pretty good.
Posted by Doctoall on :
quote:Originally posted by Leardron: at .0006! Looks pretty good.
Looks good to me, to bad for those who sold at 0.0005
Maybe they will get back in.
Posted by Leardron on :
If you really think about the beauty of this PR is that Ed pretty much cancelled out the dilution effect of the 15% dividend distribution. So in essence everyone will get 15% more shares but won't have to worry about it diluting the outstanding share pool. Ed has really got it together.
Now, I wish he would just put a PR out about the new date for the Bonita Springs acquisition.
Posted by bond006 on :
not me i think the best is yet to come i am in for the full run. 9 million and waiting for my dividend. i think ed is doing great
Posted by amanick1 on :
more buy backs ! I think its great but how many shares will thta make os? I think this is a great long term if they keep going with the buy back, anyone knoiw when this is suppose to go otc
Posted by WinsumLosesum on :
IBAC Corporation Obtains Credit Facility for Up to 5M Dollars for Acquisitions Business Wire - April 19, 2005 13:26
NEW YORK, Apr 19, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:ICAN), a Hospitality, Restaurant, Food & Beverage Service, and Entertainment Holding Company. Today announced that its Board of Directors has approved and accepted a revolving credit facility for up to 5M dollars from a group of private investors. The company intends to utilize the facility to accelerate its stated growth plan of further acquisitions and or mergers.
"We are very excited about this credit facility as this will allow us to accelerate certain proposed deals we have been looking at and to seek additional acquisitions for the company," said IBAC's Chairman Edward W. Hayter. "We feel that with our solid performance, strong outlook and cash flow that now is a good time to complete other certain deals that we have been looking at and that are on the table now, to grow the company."
The company continues to pursue additional acquisitions as to reach our stated goals of becoming a 100M per year company within three years. This credit facility has been put in place for future acquisitions and does not affect current contracted acquisitions.
This press release contains forward-looking statements regarding current expectations, risks and uncertainties for future periods. The actual results could differ materially from those discussed herein due to a variety of factors such as changes in customer demand for its products, cancellation of certain agreements by significant customers, material increases in the cost of inventory, competition in the Company's businesses, or an inability of management to successfully reduce operating expenses in relation to net sales without damaging the long-term direction of the Company. The Company assumes no responsibility to update the forward-looking statements contained in this press release.
Copyright Business Wire 2005
Posted by Leardron on :
Wow, more good news. Lets go QBID!
Posted by Mack on :
yooooooo lear your in ican board not qbid???
Posted by Doctoall on :
Awesome news, lets take a run ICAN Posted by Mack on :
yooooooo lear your in ican board not qbid???
Posted by amanick1 on :
im holding i think thisstock in the long run will make some serious money. They need to do more buy backs though.
Posted by Leardron on :
WOW, That was a big mistake. Major Brain Fart. I was reading the QBID news and must have wrote QBID instead of ICAN by mistake. Sorry!
GO ICAN!!
Posted by Leardron on :
Well, you can see one thing. There must be alot of people holding because ICAN moved from a .0003 bid and a .0004 ask to a .0004 bid and a .0006 ask with relatively low volume. I don't think it will take much for this to get back into the .0008 to .001 range as long as there is interest.
Posted by Mack on :
lol lear i thought u may have owned qbid also
Posted by Mack on :
i think ican i think ican!!!!!!
Posted by imakmony2005 on :
Now thats better, im happy.
Posted by Mack on :
im looking awefully green today....
Posted by imakmony2005 on :
Same here mack daddy$$$$$$$$$$$$$4
Posted by pennypro on :
NEW ACQUISITION NEWS SOON. IT IS ALL COMING TOGETHER NICELY.
Posted by imakmony2005 on :
WELL TIME TO STICK AROUND.
Posted by homer_0 on :
Wow, for the past few days, i hadnt kept up w/ this, mainly because everything i had was in the red! But today was an awesome day! Everything i had either went up, or stayed the same! GO ICAN!
Posted by bmaxingout on :
good day today thanks Ed
Posted by gm on :
The key on this is HDSN...he has been at .01 on the ask for 2 days and today he moved his bid up to .0004...
Posted by going for gold on :
let see o/s 1.2 billion buyback ibac 300 m buy ed(when finished) 500 m means 400m float minus let's say 100m shares by investors like myself,i 've 12m,means the float around 300m or less,sounds good for me go ican
Posted by Doctoall on :
Ican is not going anywhere much today, down to 0.0003. So what will it take to sustain the PPS?
Posted by NomarKash on :
If only we knew!
Posted by g-invest on :
Excellent news, let's go QBID!
Posted by NomarKash on :
quote:Originally posted by g-invest: Excellent news, let's go QBID!
What does that possibly add to this thread?
Posted by Mack on :
lol g-invest wrong stock.....
Posted by imakmony2005 on :
COME ON NOW WHERES THE GREEN....
Posted by bond006 on :
imo we need bonita springs to be announced as finished and the gag order taken off the ta. official news of ed's buy back and the retirement of 10 billion shares officially announced over the wire. and then we can see what happen from there. i think it is all coming just the wait gets to you
Posted by bond006 on :
just to say i have been adding to my position i think we are going to see some green here next week a lot of pr is going to come out and a alst minjte run at the dividend all of us have hit some bumps on this trip but its not over by a long shot yet. come on ican Posted by 4Tune4Me on :
Ed Hayter with Wenzel as VP are operating a company called Viyon (VYNC). Activity listed as "The company operates through its subsidiaries in select industries." Website is www.viyon.com - chart shows recent activity though flat lining prior to. I'm not sure what to make of this. Is this the shell? Website lists it's TA. Anybody have any thoughts on this?
Posted by luketheduke on :
That is odd. Why is there no mention of IBAC in either Ed's or Wenzel's bio on Viyon's site?
Posted by NomarKash on :
Both websites are registered to Ed. With the same phone number 908-400-3760, which is a New Jersey number (in Elizabeth), not Brooklyn where their headquarters are supposed to be.
Posted by bond006 on :
at this point i need to digest some things but you are correct i just got off the website for viyon and things seem funny
Posted by USF11 on :
This is all old news with viyon....
The viyon website hasnt been updated in a very long time that is why there is no mention on IBAC which is only a couple of months old.
Posted by 4Tune4Me on :
OTher BB I post on, has a post from a member,MONEYMAGNET, advising they called Ed and spoke with him.
"well i called CEO and spoke with him Mr. Hayter. he said there is the same principal at ICAN and VYNC and that you guys should not worry. he said that is not scam when is the same principal you can send him email or call company to check out. he said he is going to go to this website and make sure that you guys know its not scam! thanks!"
Posted by Leardron on :
quote:Originally posted by 4Tune4Me: Ed Hayter with Wenzel as VP are operating a company called Viyon (VYNC). Activity listed as "The company operates through its subsidiaries in select industries." Website is www.viyon.com - chart shows recent activity though flat lining prior to. I'm not sure what to make of this. Is this the shell? Website lists it's TA. Anybody have any thoughts on this?
I was wondering the same thing. The stock is in the price range that Ed mentioned. Not sure though.
Posted by Contraptor on :
Very interesting, looks like whoever created the mission statement was familiar with the copy-paste functions.
Viyon Corporation is a publicly traded holding company trading under the symbol (VYNC). The company operates through its subsidiaries in select industries.
Mission Statement
To grow the company through internal growth, acquisitions and mergers. Management is currently reviewing select acquisitions and merger candidates and look forward to announcing these developments in the near future, while this process is underway the company is pursuing the steps necessary to be listed on the OTC Bulletin Board.
IBAC Corporation is a publicly traded holding company trading under the symbol (ICAN.PK). The company operates through its subsidiaries within the restaurant & food service and hospitality industry.
Mission Statement
To grow the company through internal growth, acquisitions and mergers. Management is currently reviewing select acquisitions and merger candidates and look forward to announcing these developments in the near future, while this process is underway the company is pursuing the steps necessary to be listed on the OTC Bulletin Board.
Posted by gm on :
quote:Originally posted by USF11: This is all old news with viyon....
The viyon website hasnt been updated in a very long time that is why there is no mention on IBAC which is only a couple of months old.
Exactly USF.....
Posted by going for gold on :
strange vnyc up 53% with only 100 shares
Posted by gm on :
quote:Originally posted by going for gold: strange vnyc up 53% with only 100 shares
That is how it trades...
Posted by Mack on :
i think ican!!!!
Posted by bmaxingout on :
vync on pinksheets.com web site it shows outstanding shares at 250,000 at that low of os it wouldn't take much to move the pps way up. now just imagin if that were our spin off at 1 to every 100 shares of ican WOW doubt very much that is the case but it sure is nice to think about
Posted by imakmony2005 on :
go ican go.....
Posted by Jonathanlb8 on :
Wrong thread guy.
quote:Originally posted by going for gold: strange vnyc up 53% with only 100 shares
Posted by gm on :
VYNC is an old company that I guess ED was involved in.... VYNC is a pink sheet so no it can not be the new shell stock for the OTCBB...
The key is patience...yes there are many stocks in this market that are scams....in ICAN there are physical assets...
IMO...longs will be rewarded...
Posted by bond006 on :
very true we are all a little worried about scams because there has been a lot of the . but you have to remember that ican has physical assets like gm said and that is what we are basing our valuation on not a pie inthe sky we may find something. it is a matter of what you believe in if you think ed will come through then you will gut it out till the race is over
Posted by imakmony2005 on :
WERE GOING UP...........
Posted by gm on :
Yes it will be an interesting week...
Posted by Doctoall on :
PPS up and down and then up. Come on ICAN lets get it happening Posted by Mack on :
1 may around the corner....
Posted by imakmony2005 on :
I KNOW ICAN CAN YOU.$$$$$$$$$$$$$$$$$4ME
Posted by bmaxingout on :
hi all, has anyone heard anything on the bonita springs closing. looks like we had more good news with the 5 mill in new credit hopefully Ed buys us some more steak houses. they seem to be generating alot of cash. and Imho i believe that the steak houses are going to be the spin off div that we will be getting. its kinda funny that the pps hasnt gone up with the 15% div coming up
Posted by EDDIE138301 on :
Is this for real or what?
NEW YORK, Apr 25, 2005 (BUSINESS WIRE) -- IBAC Corporation (PINK SHEETS:ICAN), announced today that its board has approved an increase dividend in the form of forward split of 15% plus the newly approved 10% for all common shares issued and outstanding as of May 1, 2005 (the record date). As of the record date, each Holder of 100 shares of common stock shall be issued an additional twenty-five (25) shares of common stock instead of the proposed 15 totaling a forward split of 25%. Odd lots shall be rounded up. The mail date for the additional shares is May 15, 2005. "Due to our overwhelming success I feel it is in my best interest to give shareholders a piece of the action." said Edward W Hayter President. Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. SOURCE: IBAC Corporation IBAC Corporation Investor Relations, 718-891-8188 Fax: 775-320-5437 Investorrelations@ibaccorp.com - - - - -
Posted by bond006 on :
eddie i just checked the wire i have on my e trade account and could not pick up a wire like that where did you get that from? kindest regards ray bond
Posted by EDDIE138301 on :
Got it off RB. Checked Yahoo, was not on it yet. It came out around 8:05 P.M.
Cannot verify it yet. That is why I put it out here for folks to check.
Posted by bond006 on :
thanks eddie i went rb to post # 22183 cannot verify either i hope it is the truth i guess i will find out in the morning thanks for posting
Posted by Jonathanlb8 on :
This isn't good at all. That is just more shares in the float. I'd rather see thyem not retire the 300 mil, Atleast those aren't out there. Now we'll just be dealing with more shares to trade. Which means harder to move. This might hurt the PPS more than it helps. Hope that PR is false.
Posted by pcloadletter on :
I looked on Business Wire...I could not find the story at all.
Posted by gm on :
quote:Originally posted by pcloadletter: I looked on Business Wire...I could not find the story at all.
I think that is a fake PR...no where on the newswire...
Posted by bond006 on :
yes it would hurt thr pps i just don.t like false information it may lead a lot of people to make bad decisions
Posted by Doctoall on :
That PR is outright Fraud, I truly hope that IBAC tracks the IP and takes the necassary action to bring that person or persons to justice.
Bogus PR, to try to destroy the PPS and the officers of the company.
There is no doubt that Bob Frey will be asked to preserve the thread for evidence.
GO ICAN Posted by EDDIE138301 on :
Still have not found any real stuff about the pr. Must be fake. need to hang the guy.
Posted by Col. Cornhole on :
"Due to our overwhelming success I feel it is in my best interest to give shareholders a piece of the action." said Edward W Hayter President.
Eddie will be the "piece" of action when he drops the soap in the prison shower.
Posted by NomarKash on :
Col. Cornhole why do you even post? All I see is negative posts in every thread. Get a life.
Posted by Col. Cornhole on :
quote:Originally posted by NomarKash: Col. Cornhole why do you even post? All I see is negative posts in every thread. Get a life.
you're one to talk. Get a clue.
Posted by NomarKash on :
And Ed is going to jail for what reason? ICAN is a myth? A legend? A made up company?
You are right, my meal at Sanibel Steakhouse must have been fake. I must not have been eating the steak I ordered. Maybe this is the Matrix?
Posted by Leardron on :
I would appear that it is a fake as I still can't find it anywhere. Did anyone check with the person who posted it on RB where he got it?
Posted by NomarKash on :
I can't find the PR anywhere either.
Posted by Leardron on :
quote:Originally posted by Col. Cornhole: "Due to our overwhelming success I feel it is in my best interest to give shareholders a piece of the action." said Edward W Hayter President.
Eddie will be the "piece" of action when he drops the soap in the prison shower.
I think that is a good indication this is fake. I can't see Ed putting in a PR that he is giving us a "Piece of the Action". Sound like we are part of the Mob or something, LOL.
Posted by 4Tune4Me on :
This is a fake. It is not found on Business Wire at all. Disregard.
Posted by bmaxingout on :
quote:Originally posted by NomarKash: And Ed is going to jail for what reason? ICAN is a myth? A legend? A made up company?
You are right, my meal at Sanibel Steakhouse must have been fake. I must not have been eating the steak I ordered. Maybe this is the Matrix?
the matrix now thats funny ICAN "be the spoon" lol
Posted by imakmony2005 on :
Dam whats the deal the pps should be moving up, just cant figure it out.
Posted by bond006 on :
i can't figure out why the pps just stays between .0003 and .0005 my guess is the closing on bonita springs needs to be put on the wire.
Posted by bond006 on :
if anybody would like to know who posted the dividend increase go to raging bull ican 4/25/05 post # 22183 by mysterydik109 he has not answered anybodies reply.
Posted by Doctoall on :
quote:Originally posted by bond006: if anybody would like to know who posted the dividend increase go to raging bull ican 4/25/05 post # 22183 by mysterydik109 he has not answered anybodies reply.
They have probably traced his IP by now and he has visitors and can't get to the phone or comp Posted by EDDIE138301 on :
If not, I still hold my teamster's membership card. Never did find brother Jimmy Hoffa, did they? Ha!
Posted by NomarKash on :
Slow day for ICAN, hardly any volume
Posted by Doctoall on :
quote:Originally posted by NomarKash: Slow day for ICAN, hardly any volume
We need a PR to dispel all the rumors that were started, Ed needs to get things straight on this one. A statement would be better than nothing said.
Posted by Ramius on :
quote:Originally posted by bond006: if anybody would like to know who posted the dividend increase go to raging bull ican 4/25/05 post # 22183 by mysterydik109 he has not answered anybodies reply.
If this bonehead posted fake news he should be f'ing arrested. With IP they can pretty easily track home address and phone number.
Posted by Leardron on :
Just on a side note since it was brought up earlier, take a look at vync, up over 100% on 11,000 plus shares, LOL. I should have bought a 1,000 shares a couple of days ago Posted by bond006 on :
what we need to move us is some pr you guys are right. nobody likes to invest or make committments without information a informed person always feels that he has some control and you can't know everything thats going on with just dd. lets go ican Posted by Leardron on :
Hey, It's back up to .0005. Hopefully it hold nice there and works it's way up to .0006 before the end of the day.
Posted by bond006 on :
foward the light brigade go ican goooooo! Posted by 4Tune4Me on :
It's at .0003. Does anybody's L2's show fewer MM's trading this stock?
Posted by bond006 on :
the only thing i have to say with all the phoney pr and not hearing from ed for the last couple of days is sheep dip. i am going to bed and get ready for tomarrow and i would like to have a better day. go ican go . just remember gary owen and glory
Posted by NomarKash on :
we can't blame ed. do you really think ed even knows about the fake PR? it was posted by a loser on raging bull. probably didn't circulate anywhere else.
Posted by Leardron on :
Well if you believe in the MM codes this is a very good sign. I have just seen 2 trades go through in the last 10 minues with a share size of 200. That means "I need shares badly but don't take it down to get them". Looks like the MMs are getting a little worried.
Posted by Mack on :
well 1 may is around the corner also
Posted by Galaxy on :
STRONG AND LONG HOLDING HERE. :-)
Posted by Mack on :
picked up more @ .0004 couldnt get any @ .0003
Posted by Leardron on :
very low volume today.
Posted by dodint on :
One more trading day until the day of record. If it's gonna spike tomorrow will be it.
Odd that they day of record is on a Sunday, though. Posted by noah129 on :
hey does anyone elses charts show the forward split of 8 for 7 as of yesterday.my charts on optionsxpress shows that the split happend yesterday? just curious if anyone else has noticed the same thing.i did not receive any extra shares in my account though so im not sure what to make of this. i have 1.4 million and adding up to 5 million as long as prices stay at or near current levels.good luck to all.
sincerely noah
Posted by bond006 on :
i don't know i would have to look at the pr to see if the date of record is 4/27 or 5/1 i forgot i am long on this one
Posted by bond006 on :
noah looks like date of record is 5/1 don't know wht the chart shows it
Posted by pcloadletter on :
My new shares showed up in my wells fargo account today!
Posted by imakmony2005 on :
UP BOY UP.
Posted by bmaxingout on :
[QUOTE]Originally posted by pcloadletter: My new shares showed up in my wells fargo account today! [/QUOTE
what shares did you get the mail date is may 15
Posted by pcloadletter on :
I had 370000 shares in my wells fargo yesterday,
today I have two columns
ican 370000 ican* 55000
* means shares not currently held by wells fargo
Posted by Mack on :
i dont see **** in my account yet??
Posted by NomarKash on :
quote:Originally posted by Mack: i dont see **** in my account yet??
Nor do i.
Posted by WinsumLosesum on :
NEW YORK--(BUSINESS WIRE)--April 7, 2005--IBAC Corporation (PINK SHEETS: ICAN - News), announced yesterday that its board has approved a dividend in the form of forward split of 15% for all common shares issued and outstanding as of May 1, 2005 (the record date). As of the record date, each Holder of 100 shares of common stock shall be issued an additional fifteen (15) shares of common stock. Odd lots shall be rounded up. The mail date for the additional shares is May 15, 2005.
"This one time special dividend was approved as a bonus to our loyal shareholders and will not affect any of the company's plans for the sale of one or all of its subsidiaries to a fully reporting otcbb company and the parameters that were previously discussed will remain the same," said Edward W. Hayter President.
Looks like plenty of volume today Posted by Leardron on :
quote:Originally posted by Doctoall: Looks like plenty of volume today
Yea, that's a nice start. up to 29 Million already.
Posted by Leardron on :
You know, one thing I can't understand. You have a company like QBID which doesn't have any solid reoccuring revenue, has most likely 5 to 10 time the number of outstanding shares as ICAN, it currently in the red, yet the pps is 4 times higher than ICAN. Plus, QBIDs PR are vague like today's saying that they are going to do a buyback but it doesn't say when they are going to complete it, how much they are buying back, or whether they are going to retire it or not and the stock goes up.
ICAN announces a buyback and specifies how much, when it will be completed and that the share will be retired and the stock hardly does anything. We know 10 times more about ICANs revenue and share structure than QBIDs as well.
I am not trying to bash QBID at all but can someone please tell me why ICAN shouldn't be at least priced where QBID is.
It is slow today so I am in a pondering mood Posted by McFly on :
I haven't posted on this for a while but here is my question; It's at .0004-.0005 today, now most are holding their shares until after Monday's record date. Won't the PPS go down as people sell off on Tuesday? Just a question?
Posted by Leardron on :
quote:Originally posted by McFly: I haven't posted on this for a while but here is my question; It's at .0004-.0005 today, now most are holding their shares until after Monday's record date. Won't the PPS go down as people sell off on Tuesday? Just a question?
Yes, there is a possibility of the stock dropping as people sell after they have already got in on the dividend. Two things that might keep it from happening right away is the fact they you won't get the new shares until May 15th, secondly is if Ed puts out a good PR on Monday it will help maintain the price. Hopefully he announces the acquisition of Bonita Springs soon or even that he has finished his 500 Million share buy back. In any event, if there is a sell off, the stock will probably just drop back down in the .0003, .0004 range.
Posted by Ric on :
I think it has a lot to do with risk and stability. As you said with ICAN, you know what they have and where they are at. It is more stable and less risky so pps doesn't move that dramatic. You can feel its under valued but still you know what you own. While Qbid is extremely risky. It will make it or not. They use BET a lot for an example for possible valuation. BET sold for 4 1/2 billion dollars after it finally made it. A lot of investors are willing to take the extra risk in hope to see that kind of value. While the hotel and resturants ICAN owns already have a value that will not change that much. They can buy more resturants and more hotels but thats there only growth. But then too ICAN did increase more then QBID did. .0003 to .0005 is a 66% gain while .002 to .0025 is only a 25% gain. I know that I used the low to high and not bid to bid.
Posted by McFly on :
That's what I thought. I've been watching this since the beginning of the year. They look good, just no money to invest.
Posted by 4Tune4Me on :
Ed announced back on March 12th that Bonita would close on April 15th. No confirmation pr todate. I don't like when they don't do what they say they will.
Posted by bond006 on :
ican is one of my favorite stocks because i think it is somewhat stable and ed has a good head for what he is doing. but lets face it if you are talking about trend witch a lot of people look for in there lives qbid got it. and a political statement to.like cmkx what did they ever do but you tell people there is gold in them thar hills and they want to believe it in the end us plodders always winn we just may seem like nerds for a while or slugs. Posted by imakmony2005 on :
Did anyone get more shares i.e 15% div ?? i still have the same number.5-01-05 is the date right for more??
Posted by scoopman on :
That is the date of record. You shouldn't see the additional shares until 5-15.
Posted by pcloadletter on :
(notice the cross...means not yet in wells fargos hands)
Posted by bond006 on :
no i don't think you are crazy i think that is the way wells fargo accounts there statements i don't think that you can trade the 55,500 shares yet. if you can then i don't understand Posted by imakmony2005 on :
WERE GONNA GET GOING SOON HERE.
Posted by bond006 on :
i hope you are right i need my blood to boil need to move a few trades. go ican gooo! ican ican ican
Posted by noah129 on :
hey how about some price per share predictions for those that are holding long.im looking for .01-.03 cents 3-6 months time.is this unrealistic? good luck to all.i like ed and this company and i cant wait until they start opening more restaurants in my area.im in new jersey and would love if they opened up a place in nj or ny.i missed going to the one in florida when i visited florida.didnt realize they were there until after i got home.oh well .1.6 million long and strong shares that are not for sale.still accumulating when i can.good luck to you all today. sincerely noah
Posted by mburden407 on :
Board goes silent.....volume goes silent.....Is this the calm before the storm....or is everyone sitting on the edge of there seat waiting on the launch????
Posted by Mack on :
hmmmmmm staying steady @ .0005, where the hell r my extr shares at lol!!!
Posted by going for gold on :
anbody any news on the gag thing
Posted by bond006 on :
as far as i know the t/a still has a gag on them i think a whole heap of pr is comeing this week.imho
Posted by WinsumLosesum on :
Bad news from Ameritrade. I bought shares on 4/27, and it looks like I'm not getting any dividend. Anybody else having this problem? _______________________ Thank you for contacting us today regarding ICAN.
I show that the ICAN dividend has a payable date of 5/15/05. However, I show that they ex-dividend date for this stock was on 4/27/05. Because you did not purchase ICAN until this date, your shares do not qualify for the dividend. I apologize for any confusion.
There are typically three dates referenced with the payment of a dividend; the ex-dividend date, the record date, and the payable date.
As a rule, the ex-dividend date is the most significant date to keep in mind. The ex-dividend day is the first day a stock trades without a declared dividend. Since the stock is no longer trading with the dividend attached, the shareholder that held the shares at the market open on the ex-dividend date would receive the dividend. Also, the price of the stock is adjusted prior to market open (including the pre-market session) on the ex-dividend date to reflect the price without the value of the dividend. There is no minimum holding period that shares must be held prior to the ex-dividend date to entitle the holder to the dividend payment.
Shares that are purchased on (again, including the pre-market session) or after the ex-dividend date are purchased at this lower price and therefore, are not entitled to the dividend payment. Shareholders who sell their shares prior to the ex-dividend date (including the extended market session) sell the shares with the dividend still attached; in other words, they sell the security and the expected dividend.
Therefore, if one buys shares prior to the ex-dividend date and holds the shares until after market open on the ex-dividend date, they are entitled to receive the dividend.
The Record Date, a date used for corporate bookkeeping and commonly used in press releases and other news stories, is a term most often used by Corporations and Transfer Agents. Record date does not determine who is entitled to the dividend; it merely indicates to whom the transfer agent will deliver the shares. If a person holds shares on the record date but sells the shares prior to the ex-dividend date, they will deliver the dividend with the shares. Dividends are attached to shares, not people, so if shares are sold prior to the ex-dividend date, the dividend goes with the shares.
The Payable Date refers to the day brokers and shareholders anticipate the company or paying agent will pay out the dividend. This typically occurs after market close on the payable date. Payable date is generally after the ex-dividend date on cash dividends and prior to the ex-dividend date of stock splits and spin-offs.
Please keep in mind there are different types of dividends, the most common being the cash dividend. However stock splits, stock distributions, spin-offs, and restricted distributions are all considered dividends and therefore, similar principles apply.
The company is responsible for establishing the record date and the payable date for any dividend. They will typically communicate this information via a press release through a major news service, or on their Web site. Once established, the exchange on which the stock trade, or the NASD, has the option to establish the ex-dividend date. The ex-dividend date is typically not referenced in the press release, as it is established after the company's announcement.
Although most securities follow the rule of ex-dividend date, this will vary with different exchanges; as a result, we suggest you request information on a specific security to ensure accurate information.
If you have further concerns or inquiries, please reply to this message.
Sincerely,
Rachael Peacock Apex Client Services, Ameritrade Division of Ameritrade, Inc.
Posted by WinsumLosesum on :
Hmm, no response. Well, I guess everyone else bought their shares before 4/27.
I have a "conspiracy theory" that I'd like to hear some opinions on, if anyone's up for it.
A while back, I think it was GXXL that issued a stock dividend or spin-off. I specifically called the IR guy, and asked if I should have bought shares 3 days before the record date. He said in essence, "Hey, even if you buy shares the day before, their YOUR shares." And sure enough, I received the dividend, even though I had purchased the stock the day before the record date, NOT 3 days before.
So there's the precedent. In less than 24 hours, I was a shareholder of record.
Now, Ameritrade decides to tell me I need to have bought my ICAN shares by 4/26, to be on record as of 5/1. Well, who gets to decide that? And, since it doesn't take even 24 hours for the electronic "paperwork" to go through, AND since my shares are in "street name", meaning in Ameritrade's name, I wonder if Ameritrade gets to keep all the dividends of anyone who bought shares on the 27th, 28th, and 29th of April.
Thoughts? Comments?
Posted by mikensay on :
Check into Ameritrade's policy in your account on dividend/spin off stock and thier requirements. Wouldn't surprise me if they made this a back door rule. If this is the case, I'd file a complaint with both Ameritrade and the SEC. Good luck
Posted by Ric on :
Guess its a good way to coverup any shorts that may be out. Not saying there is any but if there is well.
Posted by Mack on :
i bought all my shares before 27/4 and havent got any extra shares yet
Posted by WinsumLosesum on :
quote:Originally posted by Mack: i bought all my shares before 27/4 and havent got any extra shares yet
"...the ICAN dividend has a payable date of 5/15/05."
Posted by WinsumLosesum on :
Thanks, mikensay. I'm going to call Ameritrade today and speak with a supervisor.
Posted by Mack on :
thanks winsum....
Posted by Mack on :
thanks winsum....
Posted by WinsumLosesum on :
You're welcome...
You're welcome...
Posted by Leardron on :
Wow, 20 minutes into the trading day and zero volume. I hope that is a good sign. Everyone is probably holding onto their shares because they don't know what is up with the dividend, LOL .
Posted by dodint on :
It's amazing that people see "Dividend" and can get the date of record right, but don't bother to even look at the mail date. And then they ask the same question over and over again.
Maybe my point of view is different, I'm holding long for ICAN, and have for a few months, so the Div isn't that big of a deal. It's a nice addition to a stock that already has great potential. I guess it's just kind of annoying watching people get frustrated they didn't get their "free shares" they jumped in for in the last few days, when they couldn't even bother to understand the PR, or the several posts explaining it.
I don't know, it just seems like a board that constantly says "do your own research" has a lot of clueless people running around.
Posted by ya ya on :
I agree with you Dodint,look at the UNQT post many pages of the clueless.
Posted by glenngsxr on :
dodint, in all actuality, the company did screw up the PR and later had to come back and make a statement putting everything out on the table. Also, there are a lot of different rules regarding dividend forward splits which are different than normal forward splits. I have teh textbook if you want to know the different definitions. So, you need to read the PR's and do some math and see where the gray area was. I'm sure you'll find it.
Posted by WinsumLosesum on :
My question still stands, in spite of the last two "helpful" posts from dodint and yaya.
If it's been proven that shares can be on record in less than 3 days, then are the brokers collecting the dividends for themselves on any shares purchased on the 3 days after the ex-dividend date?
By the way, you two... You've inspired me to learn more about the market, so I can become a pretend know-it-all pr1ck, too. Thanks for your fine example. It must be nice to be better than everyone else...
Posted by glenngsxr on :
winsum, those dividends are attached to those shares. If you held on the record date, keep holding. Selling will give away your divy. However, the letter you have showed that said you bought on that date tells me that the best way to ensure ownership is to buy the day before at the latest, unless your broker has a different policy. Since no one held those shares and you did not qualify for the dividend, Ameritrade will not get those extra shares. Nobody got them in fact. Ignore those other two guys, they must be eccentric millionaires who 1)must be able to tell me what stock will go up and when or 2)must have the SEC rulebook memorized.
Posted by dodint on :
--- duplicate post ---
Posted by dodint on :
Nope, I'm new to this stuff too. As I've said in just about every other post I've made.
That said, using something as simple as Yahoo financial news, I was able to know exactly what was going on with this dividend. Regardless of how much you "know" about stock dividends, the simple fact is it was spelled out quite clearly. It's not hard.
Date of Record 5/1/05 Date of Mailing 5/15/05
Doesn't take a millionare to read.
As I said before. The issues people are having are with their brokers, and that's not something ICAN or I have control over. But, being a long-term holder, I have nothing to worry about.
Good Luck.
Posted by noah129 on :
well im pretty sure i have got my dividends.i had 1.4 million now i have 1.6million and ten thousand shares.i dont know if i can sell them or not but they showed up in my account almost right away.i use optionsxpress as a broker and they just lowered there fees to ten bucks for me so i am happy with them.there execution seems very good and they get me pretty good fills on pink sheet stocks. im a long term holder on this stock not selling till at least a penny so good luck to all that trade this my shares arent for sale though.
Posted by imakmony2005 on :
I still do not show my new shares but i think it will show 5-15-05.4 million long
Posted by pennypro on :
Waiting for spin-off news- Then new acquisitions. Looking forward to this months revenue numbers...
Posted by bigmoney_12 on :
ICAN paltalk room > Miscellaneous > Penny Stocks-ICAN
Posted by WinsumLosesum on :
IBAC Corporation Reports April Revenues for Two of Its Subsidiaries & Other Company Business Business Wire - May 05, 2005 09:07
NEW YORK, May 05, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:ICAN) today reported revenues for April of two of their subsidiaries, revenues were $288,862.98 combined for The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites.
For the month, The Sanibel Restaurant Group revenues were $175,705.98, or a 24 percent gain, over the same period last year. The Royal Arkansas Hotel & Suites revenues increased to $113,157.00 or a 51 percent gain over the same period last year. (The company did not own these subsidiaries were operated by previous owners last year) These revenue figures are compiled from internal company accounting/bookkeeping and are subject to an audit by the company's independent accountants/auditors.
"We are very pleased with the operating results of these two subsidiaries and attribute the growth in revenues to the management capabilities of Mr. Karl Wenzel and Mr. Gary Becker respectfully. The significant growth was achieved because of the company's ability to recognize undervalued and mismanaged properties along with its ability to make acquisitions of such properties rather quickly. We will continue to use this formula to grow the company and continue to seek additional synergistic properties through mergers, acquisitions or the creation of new entities to maximize and increase revenues," said Edward W. Hayter President & CEO of IBAC Corporation.
The company's other two subsidiary's National Hospitality Management Services which holds the contract for all food, beverage, catering & concessions at The Pine Bluff Convention Center had partial income and will be reported within the second quarter revenues, The Royal Entertainment Group had no revenues as it has recently been folded into the Monarch Entertainment Group Worldwide and expects to begin revenue generation starting with the company's first event at the end of this month.
The Company had previously announced that it intended to complete the already contracted acquisition of the Bonita Springs property on April 15, 2005. Per the terms of the contract the company has the option to close up to August 2005 (phase two of the Sanibel Contract) After careful review the company decided to take possession of said property at the end of August as this will then lead into the "season" in Florida for the industry thus giving the company the advantage of a head start for that location and avoiding the slower summer season, this decision was deemed as in the best interest to the company financially. The cost of this acquisition is $1,470,000 and the company is in position to complete this transaction, the company also has the option to purchase the land and building within four years of closing for $1,200,000.
The third location (phase three) Naples is scheduled to close on January 4, 2006 at the request of the sellers for tax purposes and we the company have agreed to that, the cost of said acquisition will be $2,600,000 the company is in a position to complete this transaction, with an option to purchase the land and building for an additional $3,400,000 within four years of closing.
Upon closing of all three properties/restaurants gross revenues will be $10,000,000 and if the Real Estate options are exercised this will give assets to The Sanibel Restaurant Group Subsidiary of some $9,720,000.
The company plans on the building of the Sanibel Brand through various methods and merge or spin off into a fully reporting OTCBB company or better in the very near future. The company is currently negotiating another property/restaurant in Florida with revenues of $4,000,000 per year and expects contracts in the near future.
The company's Hotel subsidiary is also reviewing two Hotel properties in Memphis and Detroit and expect to negotiate terms on one or both this year.
About IBAC Corporation
IBAC Corporation, a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group / National Hospitality Management Service/ Monarch Entertainment Group Worldwide and The Royal Arkansas Hotel & Suites IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Copyright Business Wire 2005
Posted by Leardron on :
Finally some answers on the acquisitions! Hate to see it postponed till then but at least we know what is going on and why they are doing it.
Posted by NomarKash on :
It is a good idea to wait until August to close on the Sanibal location. That place is dead in the summer. Revenues would not look good! Go ed!
Posted by Ramius on :
This seems pretty good, but I'm not getting my hopes up about the pps moving. Last 2 or 3 good PR's the price didn't budge--actually dipped.
Posted by NomarKash on :
PPS should uptick at least .0001, but nothing crazy. This is a long hold.
Posted by going for gold on :
leardron,like me you've been here a long time,in your opinion what should the pps,without the mm manipulating,ok it is really not that important once 've the dividend spin-off,but wanna 've a fair estimate of the value of ican,
Posted by Leardron on :
Well if you go by the fact that the O/S after this up and coming forward split is going to be a little over 1.6 Billion share and take the fact that they currently own properties that are producing about 300 to 500 thousand per month with a bunch of acquistions coming I would say it currently should be around .0012 to .0015 and increase as the acquistions come in and we increase the revenue. Now this is just my opionion, take it for what it is worth.
Posted by NomarKash on :
quote:Originally posted by NomarKash: PPS should uptick at least .0001, but nothing crazy. This is a long hold.
or i'm wrong and it will tick down .0001
Posted by going for gold on :
thx leardron,by the way still have m 12m and now with the 15% that's another 1.8m,good investment i hope in the near future
Posted by justplayin on :
I wonder if the company can close the hotel deal in Detroit before the Super Bowl??
Posted by Leardron on :
quote:Originally posted by justplayin: I wonder if the company can close the hotel deal in Detroit before the Super Bowl??
Wow, I never thought about that. Good call. That would be cool Posted by scoopman on :
I don't understand the small buys and/or sells. I saw one earlier today for 8,125 shares. That amounts to about $3.25. My commision fee is 3x that amount.
Just curious, but selling or buying that small amount just doesn't seem to make sense when the PPS is so low.
Posted by NomarKash on :
..
Posted by NomarKash on :
quote:Originally posted by NomarKash: It could be a broken up order bought in lots. Or MM's playing games.
Posted by going for gold on :
problaby broken order,otherwise mm playing this for a long time,hope that spinn-off will come soon,get sick and tired of it
Posted by Leardron on :
yep, this is definitley a long term stock here. Things are developing well but slowly . I was over on Pal Talk and one of the guys over there said that they know one of the properties that Ed was looking to acquire in Florida and he said that it is a nationally know restaurant that does incredible business. I hope he is right on that one.
Posted by 4Tune4Me on :
It's basically unregulated Pennyland, folks. Anything is possible because there are no hard and fast rules being enforced don't you think. Even the head of Pink Sheets is pleading with SEC for regulation to salvage the reputation and ensure stability of Pennyland
Posted by Galaxy on :
Long and Strong hold here. :-)
Posted by imakmony2005 on :
NO FEAR,LONG HOLD.
Posted by Mack on :
anyone else see that big vol increase?
Posted by Doctoall on :
This stock is doing diddle squat
Holding here for some PR that will put it over the top, but not holding my breathe.
Posted by Leardron on :
WOW, 70 Million shares traded already and most of that was at .0004 too wasn't it? Something is up.
Posted by Doctoall on :
quote:Originally posted by Leardron: WOW, 70 Million shares traded already and most of that was at .0004 too wasn't it? Something is up.
I sure hope that you are right, we need a good PR to get this baby moving Posted by Runamuck on :
Yeah tons of volume on this one...
Posted by noah129 on :
hey anyone getting filled today @.0003 im trying to i thought i would get filled on the dip to .0002 but i didnt.order is still sitting there im trying to round off my shares to 2.5mil.good luck to all currently @1,610,000 and adding when i can.i love ibac i intend on holding as long as it takes im sure ed hayter has his downfalls and probably moments of dishonesty or half truth but for some reason i beleive in the success of this companies future.i will be accumulating up to 5 million shares on ican.good luck to all.
Posted by going for gold on :
what's with the volume,haven't seen that volume in some time
Posted by NomarKash on :
anyone get a .0003 fill?
Posted by Leardron on :
yep, I did.
Posted by gfowler1 on :
me too
Posted by noah129 on :
got mine sometime today as well now 2.5 million long and strong holding on for a penny hehe.
Posted by bond006 on :
wow looked in late does anybody have a clue as to why all the volume? can't find any pr anywhere Posted by noah129 on :
no news that i could find maybe someone who knows something is accumulating.im simply accumulating on faith in this company i havent heard anything new yet.keep up the good work eddy hayter we beleive in you and know you CAN.
I THINK ICAN , I THINK ICAN!!!
Posted by Leardron on :
quote:Originally posted by bond006: wow looked in late does anybody have a clue as to why all the volume? can't find any pr anywhere
The Ask dropped to .0003 for most of the day and people loaded up. That's the main reason for the volume. I ended up picking some more up too. If it goes back down there today I will buy more. Awesome buying opportunity right now.
Posted by NomarKash on :
Accumulate at .0003. I love this entry point!
Posted by ya ya on :
Another good volume day for this pos.Going down hopefully we won't get that PR that says the board is going to do a R/S,but with these scams you never now.
Posted by jason10 on :
jesus ya ya do you ever post anything positive?
are you a shorter who gets off on ruining companies stock prices? you last 10-20 posts ive seen are how whatever stock you are posting about is a POS maybe you should look in the mirror cheif
Posted by Runamuck on :
Whats up with the volume on this one the last few days and it never moves..
Posted by noah129 on :
we are getting hammered today i hope to free up some $$$ to buy a couple mil more if we stay at these levels.good luck to all !!!
Posted by BlackWidow on :
So, is this done or what?
Posted by NomarKash on :
Not even close.
Posted by Leardron on :
quote:Originally posted by BlackWidow: So, is this done or what?
I don't think it is done but we are definitley in cruise control for now. I think part of the reason for this drop is because people are selling their divy's early plus some people bailing out because they don't want to wait any longer. We will see some PRs I feel after the current stock divy is given out next week.
Posted by Leardron on :
Not sure if any of you go on the ICAN chat on Pal Talk but they are taking a share count to see how many share stock holders currently have. If you have already participated don't re-post it here but if you want to add your shares to the count, go ahead and post how many you got. The current count on Pal Talk is at 1.4 Billion. That's obviously unofficial but I would say within the ball park.
Posted by NomarKash on :
I've got 3.45 mil before the stock dividend.
Posted by bond006 on :
i have 10 million before the dividend
Posted by farmgirl on :
I only have 500,000. Posted by bond006 on :
that ok you are better off than me right now unless this puppy learns how to run
Posted by BlackWidow on :
Thanks, guys! At least my query got a bit of action on this very quiet board.
I like the theory about after the divy!
Posted by bond006 on :
imo there is most likely very good pr's coming after the dividend date. just a person like things to happen fast it takes a lot out of you to wait. but thats how you reap the reward Posted by going for gold on :
i 've 12 m before the div
Posted by BlackWidow on :
quote:Originally posted by going for gold: i 've 12 m before the div
Me too!
Posted by Leardron on :
Thanks for everyone's count. I have gave it to the guys over at Pal Talk to update the count. I will check back tomorrow morning to get everyone elses that might post. Going home for the day. Keep the faith guys!
Posted by going for gold on :
give us a update leardron ,may the force be with us Posted by mikensay on :
Leardron, I've got 5.5M before div.
Thanks for the updates.
Posted by Mack on :
2.9m before the stock divi....
Posted by pcloadletter on :
1 M before divi
Posted by gm on :
Well big things are about to happen very soon IMO...we may see some nice aquisitions coming up....
Posted by gm on :
The longs will get paid off real well I think...
Do not forget about what happened to TASR...
Posted by scoopman on :
2 Million before the Dividend
Posted by bmaxingout on :
7.5 mill and holding
Posted by bmaxingout on :
that is 7.5 before the div
Posted by Doctoall on :
3 mil before the divy
Posted by gfowler1 on :
15 mil before the dividend
Posted by Leardron on :
Good morning all! Hope today's a better day and I will give paltalk the share count since I last posted. Thanks for posting your shares.
Posted by stockaholic on :
1M and holding tight
Posted by NomarKash on :
Leardon, if you could give us an overall total that would help. Thanks!!!
Posted by Ramius on :
1,400,000 before div.
Posted by Leardron on :
Hey, just to give un update for the guys over at Pal Talk. I just checked in this morning and they said that Ed came on line last night and talked to the guys. Here is a summary of what he said.
1. He is very close to completing the 500 Million share buyback. Basically he was about to say it was complete but then changed it to "He is very close" nudge, nudge, wink, wink. Probably advised not to announce that until an offical PR is put out.
2. He also said he is going to put out a PR today about the share count to try to clear up some things as far as what is outstanding and restricted, etc.
3. Another big one is that he feels the Divy for the rollover shares will be done by the end of June. He said the problem is the SEC takes forever to update the information. He said they request information from him and he sends it back and it takes 30 days before tell him wheter they need more info or not. So everytime they need more info, it is another 30 days. He said he thinks everything has been covered and that's why he is saying the end of the 2nd Quarter which is end of June.
4. He said they are still working on some other acquistions but at this point the Bonita Springs is probably going to be the next acquisition but who knows, some of the other ones could come through in the mean time.
5. The Sanibel restaurants are definitley going to be assets he rolls over to the new stock.
6. On a side note Ed also mentioned that he is upset about the slanderous comments that are being said about him on Raging Bull by some of the members and if they don't stop he is considering taking legal action.
That's about it in a nutshell. If there are any other posters here from Pal Talk that sees anything I missed go ahead and add on. Keep an eye out for the PR.
Posted by INXS on :
2005-05-12 08:49:02 IBAC Corporation Completes Restructuring of Common Stock
NEW YORK--(BUSINESS WIRE)--May 12, 2005-- IBAC Corporation (OTC.PK:ICAN) announces that its Board of Directors has now approved a restructuring of its authorized common shares from 20,000,000,000 to 12,000,000,000 effective immediately, the certificate of amendment has been filed with the State of Delaware by corporate counsel. This is a significant reduction of the authorized common shares by the company as we continue to seek ways to enhance shareholder value during these trying market conditions, without limiting the company's ability to complete certain pending and ongoing negotiations of additional acquisitions. The company has had several shareholder comments regarding a reverse split and the pending 15% dividend payment, the company has no plans of a reverse split as this is not in our business plan going forward, secondly the 15% dividend is payable May 15, 2005 as this date falls on a Sunday the payment will be made on Monday May 16, 2005. Regarding existing share buyback's previously announced Mr. Hayter's buyback for his personal portfolio is nearly completed, and the company buyback will start within the next two weeks of up too 300 million common shares. The company has also filed an amendment regarding the company's name, an error in the company name was discovered, the error was IBAC Corporation Inc. and was corrected to IBAC Corporation and filed with the State of Delaware by corporate counsel. Edward W. Hayter, IBAC's President and CEO, commented, "Significant growth and improvements in IBAC's overall businesses and general direction enabled us to successfully complete this sizable reduction in authorized common shares. By and through this share reduction we are working to enhance existing stockholder valuations and strengthen our earnings per share results as we continue to believe our company is severely undervalued and will explore all means possible to correct our valuation." "As our business continues to grow and develop we will continue exploring additional future reductions in shares outstanding, including possible additional stock buyback's, to further enhance our stockholders' levels of ownership and valuations," added Mr. Hayter.
Posted by Leardron on :
Well Geez, I no sooner posted and the news is out. Ed keeps his word again, Awesome.
IBAC Corporation Completes Restructuring of Common Stock
NEW YORK, May 12, 2005 (BUSINESS WIRE) -- IBAC Corporation (OTC.PK:ICAN) announces that its Board of Directors has now approved a restructuring of its authorized common shares from 20,000,000,000 to 12,000,000,000 effective immediately, the certificate of amendment has been filed with the State of Delaware by corporate counsel. This is a significant reduction of the authorized common shares by the company as we continue to seek ways to enhance shareholder value during these trying market conditions, without limiting the company's ability to complete certain pending and ongoing negotiations of additional acquisitions.
The company has had several shareholder comments regarding a reverse split and the pending 15% dividend payment, the company has no plans of a reverse split as this is not in our business plan going forward, secondly the 15% dividend is payable May 15, 2005 as this date falls on a Sunday the payment will be made on Monday May 16, 2005.
Regarding existing share buyback's previously announced Mr. Hayter's buyback for his personal portfolio is nearly completed, and the company buyback will start within the next two weeks of up too 300 million common shares.
The company has also filed an amendment regarding the company's name, an error in the company name was discovered, the error was IBAC Corporation Inc. and was corrected to IBAC Corporation and filed with the State of Delaware by corporate counsel.
Edward W. Hayter, IBAC's President and CEO, commented, "Significant growth and improvements in IBAC's overall businesses and general direction enabled us to successfully complete this sizable reduction in authorized common shares. By and through this share reduction we are working to enhance existing stockholder valuations and strengthen our earnings per share results as we continue to believe our company is severely undervalued and will explore all means possible to correct our valuation."
"As our business continues to grow and develop we will continue exploring additional future reductions in shares outstanding, including possible additional stock buyback's, to further enhance our stockholders' levels of ownership and valuations," added Mr. Hayter.
Posted by NomarKash on :
Loving it. Go ICAN!
Posted by INXS on :
Good PR.
1- reduce A/s
2- no Reverse split
All is well
Posted by Taterhead on :
Any predictions for today?
Posted by Leardron on :
I'll Say we will hit definitley .0005 maybe .0006.
Posted by NomarKash on :
I'm glad we were able to accumulate earlier this week. Payoff soon.
Posted by Leardron on :
quote:Originally posted by Leardron: Hey, just to give un update for the guys over at Pal Talk. I just checked in this morning and they said that Ed came on line last night and talked to the guys. Here is a summary of what he said.
1. He is very close to completing the 500 Million share buyback. Basically he was about to say it was complete but then changed it to "He is very close" nudge, nudge, wink, wink. Probably advised not to announce that until an offical PR is put out.
2. He also said he is going to put out a PR today about the share count to try to clear up some things as far as what is outstanding and restricted, etc.
3. Another big one is that he feels the Divy for the rollover shares will be done by the end of June. He said the problem is the SEC takes forever to update the information. He said they request information from him and he sends it back and it takes 30 days before tell him wheter they need more info or not. So everytime they need more info, it is another 30 days. He said he thinks everything has been covered and that's why he is saying the end of the 2nd Quarter which is end of June.
4. He said they are still working on some other acquistions but at this point the Bonita Springs is probably going to be the next acquisition but who knows, some of the other ones could come through in the mean time.
5. The Sanibel restaurants are definitley going to be assets he rolls over to the new stock.
6. On a side note Ed also mentioned that he is upset about the slanderous comments that are being said about him on Raging Bull by some of the members and if they don't stop he is considering taking legal action.
That's about it in a nutshell. If there are any other posters here from Pal Talk that sees anything I missed go ahead and add on. Keep an eye out for the PR.
Just wanted this to show on this page. It might have got missed on the other one.
Posted by Runamuck on :
This is good news now it needs to MOVE!!
Posted by bond006 on :
thank you leardron for the input from pal talk good pr this morning looks like the puzzle is coming together and we will the ed's plan unfold. like runamuck says now we juct need this to move. go ican gooooo! Posted by Leardron on :
Man, the MMs are really trying to hold this down. I can't believe with this news that there is only 2.5 million traded so far.
Posted by noah129 on :
anyone getting filled @.0003 im trying to load up again no fills yet im surprised this hasnt taken off with this news?
i think ican , i think ican.
goood luck to you all.
Posted by Runamuck on :
I know I can I know I can Posted by farmgirl on :
Not me. I am triing.
Posted by bmaxingout on :
IMHO mm's need to keep this one down so that they can buy back what they oversold.with the div coming they will need to cover their a**es im not really expecting to see the pps go anywhere untill after the 15th hope that im wrong jmho
keep up the great work ed buy large and hold lets shut out the day traders our day is coming soon
Posted by noah129 on :
now trying to get in at .0004 still no fill.hope i get in soon.this one should be back @.001 soon in my humble opinion.
Posted by NomarKash on :
may be a good sign if you can't get in at .0004
Posted by Leardron on :
quote:Originally posted by noah129: now trying to get in at .0004 still no fill.hope i get in soon.this one should be back @.001 soon in my humble opinion.
I would be interested in know how long it takes you to get it filled at .0004. To me you should get in right away since the ask is .0004. I think the mms are not processing orders to keep the price down.
Posted by Taterhead on :
The west coast just woke up - it's show time!!
.0004x2 .0005x4
Posted by bmaxingout on :
at some point the orders will be backed up to where they will have to fill even if it is at a loss for them. stick it to the rotten SOB's i love to watch them squirm
Posted by Doctoall on :
quote:Originally posted by NomarKash: may be a good sign if you can't get in at .0004
I changed my first order from 3 to 4 and it filled within secs Posted by bmaxingout on :
now at .0004 i love it!!! lets go ican
Posted by bmaxingout on :
wow today i can almost smell the green not sure if anyone can tell but i am very excited:)
Posted by noah129 on :
hey i got filled rather fast @.0004 im stoked the orders are lining up it appears someone is stocking up bigtime much larger than i .i currently own 3.3 million and will be adding everyweek as long as we are at these levels.good luck to you all sincerely noah.
Posted by noah129 on :
hey i need help? i have not been one to daytrade any of my penny stocks especially this one and qbid but i might try and swing this one if i get up enough what do you think would be a good point to sell at and try and buy back in later.im thinking @ around .0006-.0007 if we run that high then buy back around .0005.not sure if its worth it this stock could be in the penny range this year.help i dont want to be a bagholder i always hold the bag hehehe.
Posted by NomarKash on :
I hold an average of 3mil shares long.
But I do buy at .0003 and sell on runs, usually .0005 or .0006.
Posted by Ramius on :
Longterm...1 year or more, what are you guys hoping(realistically) for out of this stock. .005, .01? what do you think?
Posted by NomarKash on :
Short-term (few months) I think this will hit .001 again. In a year I think we can get to .005, not until '07 do I think we hit pennyland. All my opinion of course.
Posted by Leardron on :
quote:Originally posted by Ramius: Longterm...1 year or more, what are you guys hoping(realistically) for out of this stock. .005, .01? what do you think?
Well it depends on what you are talking about, ICAN or the spinoff stock. The shell for the spinoff stock is already around $2.00 per share so when we get our shares of that we will already be in dollar land. As far as what will happen with ICAN I can't predict. It depends on what Ed does with it. If he continues to use ICAN as a proving ground and then keeps spinning assets off to another stock, the accual pps might not ever get out of the subpenny but it will still have incredible value because only ICAN holders will get the spinoff shares.
If he decides to just spinoff Sanibel and then keeps the rest of the assets in ICAN from here on out then I definitley think this will see a penny within the next two years.
Ed also eluded to last night that he is now considering moving ICAN itself to a fully reporting company sometime after the Sanibel spinoff. That would be awesome if he decides to do that.
Posted by Ramius on :
I haven't been watching this one very long, but one thing I really like is that they do what they say they're gonna do, pretty much right on schedule. I haven't seen too many like that.
Posted by noah129 on :
hey all buying sure seemed to dry up this last hour.im predicting that this next half hour is when some will start to accumulate at .0004.just wanted to say to anyone who cares to know i am planning on going to florida soon and will be going out to eat at the sanibel steak house.when this happens i will be sure to give you all a very thourough update on how the restaurant is running.i am very critical when it comes to going out to eat.i waited tables for over 5 yrs so i know when you are recieving good service and when they are being lazy.i also never mind paying extra money for a nice meal in the 30-50$ range per plate but when you pay these prices you expect to get fresh food at least.so basically i will tell ya'll how it goes after i get back .
Posted by 4Tune4Me on :
This PR is outstanding! Immediate action and future commitment. I agree, Ramius, confidence goes right up when they do what they say.
Posted by NomarKash on :
quote:Originally posted by noah129: hey all buying sure seemed to dry up this last hour.im predicting that this next half hour is when some will start to accumulate at .0004.just wanted to say to anyone who cares to know i am planning on going to florida soon and will be going out to eat at the sanibel steak house.when this happens i will be sure to give you all a very thourough update on how the restaurant is running.i am very critical when it comes to going out to eat.i waited tables for over 5 yrs so i know when you are recieving good service and when they are being lazy.i also never mind paying extra money for a nice meal in the 30-50$ range per plate but when you pay these prices you expect to get fresh food at least.so basically i will tell ya'll how it goes after i get back .
Noah, I believe you will come back impressed. I've eaten at all three locations. Naples, Bonita Springs and Sanibel. The service has been great every time I go. The food is high quality but I think the service is even better.
The reason I belive in ICAN is because I have seen first hand how the restaurant side of their business is run.
Posted by noah129 on :
thanx nomarkash, im excited to eat their i am planning on taking my grandparents out for a nice meal and some wine.i cant wait to see first hand what i am invested in.i intend on holding most of my shares for the long haul in hopes these special spinoof divies are as good as we think they might be.i appreciate you letting me know that you have eaten there and beleive we will all do very well 2-6 months out on ican.
Posted by justplayin on :
quote:Originally posted by Leardron:
quote:Originally posted by Ramius: Longterm...1 year or more, what are you guys hoping(realistically) for out of this stock. .005, .01? what do you think?
Well it depends on what you are talking about, ICAN or the spinoff stock. The shell for the spinoff stock is already around $2.00 per share so when we get our shares of that we will already be in dollar land. As far as what will happen with ICAN I can't predict. It depends on what Ed does with it. If he continues to use ICAN as a proving ground and then keeps spinning assets off to another stock, the accual pps might not ever get out of the subpenny but it will still have incredible value because only ICAN holders will get the spinoff shares.
If he decides to just spinoff Sanibel and then keeps the rest of the assets in ICAN from here on out then I definitley think this will see a penny within the next two years.
Ed also eluded to last night that he is now considering moving ICAN itself to a fully reporting company sometime after the Sanibel spinoff. That would be awesome if he decides to do that.
Where did we hear what the symbol is and how did we get the pps??
Also, has it been determined what the divy will be for the spinoff shares?
Posted by noah129 on :
i havent heard what stock it is or what the symbol is or how many shares we will get in accordance with the amount we own.if anyone has info on this i would love to see a link to that info.thanx sincerely noah 3.3 million long and strong.
Posted by Leardron on :
quote:Originally posted by justplayin:
quote:Originally posted by Leardron:
quote:Originally posted by Ramius: Longterm...1 year or more, what are you guys hoping(realistically) for out of this stock. .005, .01? what do you think?
Well it depends on what you are talking about, ICAN or the spinoff stock. The shell for the spinoff stock is already around $2.00 per share so when we get our shares of that we will already be in dollar land. As far as what will happen with ICAN I can't predict. It depends on what Ed does with it. If he continues to use ICAN as a proving ground and then keeps spinning assets off to another stock, the accual pps might not ever get out of the subpenny but it will still have incredible value because only ICAN holders will get the spinoff shares.
If he decides to just spinoff Sanibel and then keeps the rest of the assets in ICAN from here on out then I definitley think this will see a penny within the next two years.
Ed also eluded to last night that he is now considering moving ICAN itself to a fully reporting company sometime after the Sanibel spinoff. That would be awesome if he decides to do that.
Where did we hear what the symbol is and how did we get the pps??
Also, has it been determined what the divy will be for the spinoff shares?
No, he didn't say how the divy would be handed out nor did he say what the symbol was of the spinoff
Posted by NomarKash on :
Damn MM's holding us down!
Posted by Taterhead on :
someone just bought 2.5 mil shares.
Posted by ya ya on :
i thought this would go up some after the news but no go.
Posted by Forrestgump on :
BECAUSE NSS.
Posted by Leardron on :
quote:Originally posted by Forrestgump: BECAUSE NSS.
Sorry, I am being stupid. What is NSS?
Posted by Leardron on :
Just an fyi. The count is up to 1.524 Billion shares held. They told this to Ed and he is going to get a sheet from the TA that has all the share holders on it because he is still saying the O/S should be at 1.3 Billion. If that's true, this stock is being shorted and he wants some info to back that up. I'll keep you posted.
Posted by ya ya on :
I think its NO S*** SHERLOCK - i could be wrong
Posted by Mack on :
i think ican!!!
Posted by bond006 on :
if this is being shorted by those sob's i hope ed makes there life absoulute misery and any way i can help i will. go ican go
Posted by BchOus on :
I received my 15% shares on May 12 at Scottrade. Thought it would be Monday. I'm not up to date on the spinoff, if someone could repost the info would be great....thanks..
Posted by farmgirl on :
I am in Scottstrade and have not recieved mine yet.
Posted by Leardron on :
quote:Originally posted by BchOus: I received my 15% shares on May 12 at Scottrade. Thought it would be Monday. I'm not up to date on the spinoff, if someone could repost the info would be great....thanks..
Ed said the spinoff is still on track to be done by the end of June. Basically all the accounting is done he is just playing paper tag with the SEC. Everytime he sends something to them, it takes the SEC 30 days to let him know if they need something else. He said he thinks they have just about covered everything.
Posted by farmgirl on :
I call Scottstrade and was told that the extra shares would be in my account Monday.
Posted by BchOus on :
correction, shares are showing up in my Gainskeeper but have not been posted on my streamer.
Posted by BchOus on :
for Pal Talk count, 870,000 before div, 1,000,500 after
Posted by tntrader on :
This is getting ugly.
Posted by Mack on :
still waiting 4 my extra shares which should be in my account monday...
Posted by bond006 on :
me to they are in my gais keeper must show up monday glta
Posted by imakmony2005 on :
Its gonna move just needs time and up we go.
Posted by Mack on :
anyone get there shares in there account yet??
Posted by scoopman on :
My share have been added to my account. Now stand at 2.3 Million Shares.
Tom
Posted by NomarKash on :
Not posted in my account yet!
Posted by Mack on :
not in mine either...
Posted by dinger51 on :
Not yet either
Posted by bond006 on :
not me but they show up in my gains keeper
Posted by WinsumLosesum on :
IBAC Corporation to Bid at Auction for Prime Hotel & Free Standing Restaurant on Prime Land Business Wire - May 16, 2005 09:09
NEW YORK, May 16, 2005 (BUSINESS WIRE) -- IBAC Corporation (OTC:ICAN) today announced that the company will be an active bidder at the auction of a 127 room hotel and a free standing restaurant located on prime real estate near the Memphis Airport in Memphis, Tennessee.
IBAC Corporation has already registered as a bidder and has tendered the required $100,000.00 cash deposit.
Property Description - 127 room Ramada Inn with adjacent restaurant located less than 1/2 mile off I-240 at Exit 24, near the airport. Hotel consists of 6 floors: 45 double, 82 kings and 6 kings studios. Interior corridors. Property built in 1986. Has on-site laundry facilities, sundries shop, outdoor pool, 2 conference rooms and 2 Dover elevators. 200 +/- paved parking spaces.
The auction is to take place on May 25, 2005 and the Company will be represented at the auction by Mr. Edward W. Hayter President of IBAC and Mr. Gary Becker President of IBAC subsidiary The Royal Arkansas Hotel & Suites. Mr. Becker has already inspected the property and Mr. Hayter will look at it a day before the auction.
"We are very eager to acquire this property as it is only a two hour distance from the other company owned Hotel in Pine Bluff, Arkansas, it will also add significant additional revenues and rooms and another restaurant to the companies operations," said Gary Becker, President The Royal Arkansas Hotel & Suites.
"The Company will continue to pursue other acquisitions along the lines of undervalued/mismanaged properties at a discounted cost, the company has the ability to act fast on transactions of this nature, do to the companies access to cash," said Edward W. Hayter President of IBAC.
About IBAC Corporation
IBAC Corporation, a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group / National Hospitality Management Services/ Monarch Entertainment Group Worldwide and The Royal Arkansas Hotel & Suites IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Posted by WinsumLosesum on :
IBAC Corporation to Negotiate an Increase to Their Existing Credit Facility for up to 20M Dollars for Further Acquisitions Business Wire - May 16, 2005 09:54
NEW YORK, May 16, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:ICAN), a Hospitality, Restaurant, Food & Beverage Service, and Entertainment Holding Company, today announced that its Board of Directors has approved the go ahead to negotiate an increase to its credit facilities for up to 20M dollars from a group of private investor/lender's and Banks.
"We are very excited about this proposed increase to our credit facility as this will allow us to accelerate certain proposed deals we have been looking at and to seek additional acquisitions for the company," said IBAC's Chairman Edward W. Hayter. "We feel that with our solid performance, strong outlook and cash flow that now is a good time to complete other certain deals that we have been looking at and that are on the table now, to grow the company."
The company continues to pursue additional acquisitions as to reach our stated goals of becoming a 100M per year company within three years. This credit facility has been put in place for additional acquisitions we have in place and does not affect current contracted acquisitions.
This press release contains forward-looking statements regarding current expectations, risks and uncertainties for future periods. The actual results could differ materially from those discussed herein due to a variety of factors such as changes in customer demand for its products, cancellation of certain agreements by significant customers, material increases in the cost of inventory, competition in the Company's businesses, or an inability of management to successfully reduce operating expenses in relation to net sales without damaging the long-term direction of the Company. The Company assumes no responsibility to update the forward-looking statements contained in this press release.
SOURCE: IBAC Corporation IBAC Corporation Investor Relations, 718-891-8188 Fax: 775-320-5437 IR@ibaccorp.com
Posted by going for gold on :
2 pr' today;ambition enough,ed.Now can ik ask everyone do not sell any shares until we have a pps that's at least 0.001.This means also we can hurt the mm's a little bit :-). a pps of 0.03 would be even better. Leardron,with your contacts at paltalk,can you deliver the same message,no selling until the pss is at least 0.001
Posted by Leardron on :
I still have yet to receive my shares too so I called etrade and they said that the shares are coming but it might take a day or two to get the shares from the transfer agent.
Posted by Leardron on :
quote:Originally posted by going for gold: 2 pr' today;ambition enough,ed.Now can ik ask everyone do not sell any shares until we have a pps that's at least 0.001.This means also we can hurt the mm's a little bit :-). a pps of 0.03 would be even better. Leardron,with your contacts at paltalk,can you deliver the same message,no selling until the pss is at least 0.001
No problem. I don't think you would have a problem with anyone selling over there anyway. All of them are in for the long haul.
Posted by Galaxy on :
Hmm mine also not yet received (ETrade)
Posted by NomarKash on :
wonder why they put two PRs out in the same day. maybe they are as surprised as us that three PRs in three trading days makes the PPS move no where.
Posted by rickpic on :
me too,no dividend shares on my account yet.and i made a little mistake,i have 14m instead of 12 m shares ,:-).By the way ,i think i'll receive my shares maybe wednesday or so,because it is a bank holiday here in belgium.yes i am from belgium,smal country in europe but when i smell a good investment i don't mind in wich country it is.
Posted by farmgirl on :
Scottstrade saiys they are imputting the shares manually and I should have mine by the end of the day.
Posted by NomarKash on :
how can people not be confident in this company. they own REAL assets and try to aquire REAL assets....
Posted by dinger51 on :
Does anyone use Mytradz?
I called and they said it may take a week. That can't be right. Can It?
Posted by Taterhead on :
Ridgeland, MS, MAY 16, 2005 (EventX/Knobias.com via COMTEX) -- IBAC Corporation (ICAN) announced that its Board of Directors has approved the go ahead to negotiate an increase to its credit facilities for up to $20 million from a group of private investor/lender's and Banks.
GET KNOBIAS IN REAL-TIME: Delivery of this proprietary Knobias alert has been delayed by at least 10 minutes. To get all Knobias alerts in real-time daily, visit http://www.knobias.com/cmtx Posted by rickpic on :
Ibac Corp. Ceo Edward Hayter, has been given a raw deal by the posters to the net over the past few weeks. I believe that its because of the PPS and the number of day traders and manipulator, who own shares or have a naked short. I have spoken with Ed many times over the past several months and on more than one occasion he has expressed his dismay with shareholders who invest and expect a profit in hour or days. "Do these people think a company with a $100 annual revenue is built over night?" It seems to me that Ed is working very hard to grow ICAN, and that he should be given the time to do so. Presently he is working on many acquisitions and any one of them could increase the PPS. As stated in press releases here's a list: Two currently operating Sanibel Steak Houses in Fl, and a $13.5 million dollar restaurant chain in Arkansas, Two Hotels, one in Memphis and, one in Detroit, and another restaurant in Fl, with a stated income of $4. million dollars annually. Also at this time there is a $1 Million dollar renovation being done to The Royal Arkansas Hotel subsidiary while it generated $113k in April 05. The Fort Myers, Sanibel Steak House subsidiary also generated a healthy $175k in April 05! The National Hospitality subsidiary's income will the stated at the end of the quarter and the Monarch Entertainment will start to generate income in May 05. It seems to me that there are many income generating assets being perused and that ICAN's PPS will follow!
Posted by rickpic on :
Divy Shares are in Ameritrade accounts!
Posted by Doctoall on :
quote:Originally posted by rickpic: Divy Shares are in Ameritrade accounts!
Still waiting for E-Turd to get updated.
Posted by Leardron on :
quote:Originally posted by Doctoall:
quote:Originally posted by rickpic: Divy Shares are in Ameritrade accounts!
Still waiting for E-Turd to get updated.
LOL me too. Is it me or do they always seem one step behind Posted by Doctoall on :
quote:Originally posted by Leardron:
quote:Originally posted by Doctoall:
quote:Originally posted by rickpic: Divy Shares are in Ameritrade accounts!
Still waiting for E-Turd to get updated.
LOL me too. Is it me or do they always seem one step behind
Only one step, its more like 3-4 steps behind Posted by bmaxingout on :
i got all of my shares (Ameritrade) now at 8,625,000 million and holding strong
thank you ed and keep up the great work
Posted by rickpic on :
Pictures and Hotel info added to micropennys Just click the hotel pictures for further details on the hotel about to be bid on at auction by IBAC Corp on 5/25/05
Posted by bmaxingout on :
thanks for the info on the hotel looks like another good pick up if we can get it.
Posted by rickpic on :
Get ready!!!
"We are very excited about this proposed increase to our credit facility as this will allow us to accelerate certain proposed deals we have been looking at and to seek additional acquisitions for the company," said IBAC's Chairman Edward W. Hayter. "We feel that with our solid performance, strong outlook and cash flow that now is a good time to complete other certain deals that we have been looking at and that are on the table now, to grow the company."
Posted by Leardron on :
quote:Originally posted by rickpic: Get ready!!!
"We are very excited about this proposed increase to our credit facility as this will allow us to accelerate certain proposed deals we have been looking at and to seek additional acquisitions for the company," said IBAC's Chairman Edward W. Hayter. "We feel that with our solid performance, strong outlook and cash flow that now is a good time to complete other certain deals that we have been looking at and that are on the table now, to grow the company."
I really hope they get that restaurant down in Florida. From what the guys are saying over on Pal Talk (some of them have been there), that would be an incredible addition to IBAC. I don't know what the name is but from what they are saying on Pal Talk, it is a nationally know restaurant.
Posted by NomarKash on :
quote:Originally posted by Leardron:
quote:Originally posted by rickpic: Get ready!!!
"We are very excited about this proposed increase to our credit facility as this will allow us to accelerate certain proposed deals we have been looking at and to seek additional acquisitions for the company," said IBAC's Chairman Edward W. Hayter. "We feel that with our solid performance, strong outlook and cash flow that now is a good time to complete other certain deals that we have been looking at and that are on the table now, to grow the company."
I really hope they get that restaurant down in Florida. From what the guys are saying over on Pal Talk (some of them have been there), that would be an incredible addition to IBAC. I don't know what the name is but from what they are saying on Pal Talk, it is a nationally know restaurant.
No one in Pal Talk knows the name either?
Posted by Leardron on :
quote:Originally posted by NomarKash:
quote:Originally posted by Leardron:
quote:Originally posted by rickpic: Get ready!!!
"We are very excited about this proposed increase to our credit facility as this will allow us to accelerate certain proposed deals we have been looking at and to seek additional acquisitions for the company," said IBAC's Chairman Edward W. Hayter. "We feel that with our solid performance, strong outlook and cash flow that now is a good time to complete other certain deals that we have been looking at and that are on the table now, to grow the company."
I really hope they get that restaurant down in Florida. From what the guys are saying over on Pal Talk (some of them have been there), that would be an incredible addition to IBAC. I don't know what the name is but from what they are saying on Pal Talk, it is a nationally know restaurant.
No one in Pal Talk knows the name either?
Well, It's not that fact that they don't know the name but they don't want to start any false rumors. Ed has not said which restaurant it is that he is looking to acquire but there is someone on Pal Talk that has it on good authority which one it is but this person doesn't want to say what it is. All I know is that it is a Greek Restaurant.
Posted by rickpic on :
Is this what you are discusing?
The company is currently negotiating another property/restaurant in Florida with revenues of $4,000,000 per year and expects contracts in the near future.
Posted by Leardron on :
quote:Originally posted by rickpic: Is this what you are discusing?
The company is currently negotiating another property/restaurant in Florida with revenues of $4,000,000 per year and expects contracts in the near future.
yes. From the discussion that the Pal Talk guys had with Ed last week he said this is about 85% done.
Posted by bmaxingout on :
i wish that they would buy a restaurant up hear in the great northeast hate the thought that i will have to travel to florida to eat in my new restaurant LOL
Posted by bmaxingout on :
rickpic good to see you on the board again thought that you might have left us. great job on the new posts!
Posted by rickpic on :
quote:Originally posted by bmaxingout: rickpic good to see you on the board again thought that you might have left us. great job on the new posts!
Oh no I'm still very much around when It comes to ICAN! Ed's got a plan and I like it!
Posted by NomarKash on :
OK, thanks Leardron, great things to come, can't wait!
Posted by rickpic on :
I called the hotel in Memphis and the restaurant is a totaly seperate auction. This means we could close 2 deals on the 25th of May!
Posted by noah129 on :
this all sounds good to me i know ican i know ican.still holding 4 million long and strong thanx for the great posts and all the dd guys.i appreciate your hard work.may this investment pay off great for all of us.lets plan and meet eachother at the hotel or restaurant when this stock hits the penny levels? sound good ?ican wait as long as it takes hehehe.
Posted by farmgirl on :
The day is over and I still do not have my shares. I will call again in the morning and see what Scottstrade says this time.
Posted by BchOus on :
Farmgirl: I do not have mine either from Scottrade, they have been "johnnie on the spot with the other splits I've had so it must be Ibac not delivering (?) What did Scottrade tell you when you asked?.... Just curious......
Posted by bond006 on :
i have not got e trades i called and they said when ever they get them they will be in my account. they also said with penny stocks who knows
Posted by rickpic on :
2989 and 2945 Millbranch Rd
Ramada Inn and the Former Shoney's restaurant will be auctioned on 5/25/05
quote:Originally posted by farmgirl: The day is over and I still do not have my shares. I will call again in the morning and see what Scottstrade says this time.
What was the issue date ?? I have ST and do not have anything.
Posted by rickpic on :
TA said all shares were delivered today and everyone but Scott Trade and E-Trade traders seem to have gotten there shares! I got mine before noon today with Ameritrade!
Posted by smileywalters on :
Did anyone get their shares yet from choicetrade? TIA Posted by subbywrx on :
Gor mine this morning. Ameritrade as well.
Posted by imakmony2005 on :
Hold and be happy its gonna go. TIME THATS ALL.
Posted by Mack on :
finally got my additional shares....
Posted by Taterhead on :
quote:Originally posted by Taterhead:
quote:Originally posted by farmgirl: The day is over and I still do not have my shares. I will call again in the morning and see what Scottstrade says this time.
What was the issue date ?? I have ST and do not have anything.
Got mine this AM
Posted by Leardron on :
quote:Originally posted by Taterhead:
quote:Originally posted by Taterhead:
quote:Originally posted by farmgirl: The day is over and I still do not have my shares. I will call again in the morning and see what Scottstrade says this time.
What was the issue date ?? I have ST and do not have anything.
Got mine this AM
Got mine this morning too.
Posted by NomarKash on :
Who-hoo, got em!
Posted by WinsumLosesum on :
Don't want to open up the same can of worms as last time, but I'm just curious.
Did ANYONE here purchase shares ON or AFTER the ex-dividend date of 4/27? And if so, did you receive the dividend?
I purchased ON 4/27, and did NOT receive the dividend, and I just want to make sure I can put this battle with Ameritrade behind me.
Replies would be very much appreciated, except for the kind of arrogant, nonconstructive replies that were generated by this topic the last time. So, in advance, I am NOT stupid (well, there ARE a few exceptions) and yes, I AM aware that the ex-dividend date is 3 days before the date of record.
But I still maintain that in these days of electronic transactions, SOMEONE was a shareholder of record of MY shares in PLENTY of time before the record date of 5/1. And if it wasn't ME, then it was AMERITRADE. And I still wonder if Ameritrade and other brokers get to keep the dividends of any shares bought through them between 4/27 and 4/29...
And once again, I refer to the precedent of GXXL, where I bought shares the DAY BEFORE the record date, and STILL received my dividends.
Thanks.
Posted by dinger51 on :
Got Mine!!
Posted by rickpic on :
I was looking at topographical maps of the area where the Ramada that IBAC is bidding on is located and its in a very good spot. Its the first hotel you come to right of a main highway and Willbranch Rd is where many of the larger hotels are located in Memphis. Its on 2mls from the airport and 2 miles from Graceland in the other direction. Seems to me that most of those 127 rooms at $59. to $69. per night should be full year rounds. The restaurant located right next door is a prime piece of land as stated in the PR. From my conversation with Ed yesterday evening, it seems he is ready to bid hard to get this lil gem that the bank took back from the current title holder. I personaly hope he gets this hotel restaurant property as it looks like a great addition to Ibac Corp. Its also only 2hrs from the Pine Bluff, Royal Arkansas Hotel and Gary Becker should have little trouble overseeing both locations and there managment. One way or the other we should know on the 25th or 26th of May.
The numbers on the Ramada look something like this.
127rms x $59.00 per night = $7493.00 a day
$7493.00 x 30 = $224.790.00 per month
$224.790.00 x 12 = $2.697.480.00 per yr
less an average 25% vacancy to be safe= $2.2 million
making this Ramada deal look like its profitable quick for anything under $4 million.
the restaurant which is closed at this time just seems like gravy on the deal and as is said the land is prime.
Cheers Rick
Posted by NomarKash on :
Thanks for the DD rick, keep up the good work!
Posted by Leardron on :
quote:Originally posted by rickpic: I was looking at topographical maps of the area where the Ramada that IBAC is bidding on is located and its in a very good spot. Its the first hotel you come to right of a main highway and Willbranch Rd is where many of the larger hotels are located in Memphis. Its on 2mls from the airport and 2 miles from Graceland in the other direction. Seems to me that most of those 127 rooms at $59. to $69. per night should be full year rounds. The restaurant located right next door is a prime piece of land as stated in the PR. From my conversation with Ed yesterday evening, it seems he is ready to bid hard to get this lil gem that the bank took back from the current title holder. I personaly hope he gets this hotel restaurant property as it looks like a great addition to Ibac Corp. Its also only 2hrs from the Pine Bluff, Royal Arkansas Hotel and Gary Becker should have little trouble overseeing both locations and there managment. One way or the other we should know on the 25th or 26th of May.
The numbers on the Ramada look something like this.
127rms x $59.00 per night = $7493.00 a day
$7493.00 x 30 = $224.790.00 per month
$224.790.00 x 12 = $2.697.480.00 per yr
less an average 25% vacancy to be safe= $2.2 million
making this Ramada deal look like its profitable quick for anything under $4 million.
the restaurant which is closed at this time just seems like gravy on the deal and as is said the land is prime.
Cheers Rick
Cool, thanks rick. Looks like an early standoff this morning with the holders and buyers, LOL. No volume yet.
Posted by bond006 on :
all mine were purchased before 4/27 and just got them last night. go ican go
Posted by farmgirl on :
My shares are in my account.
Posted by bmaxingout on :
after ten and still no volume whats up with that looks like someone might have gotten caught with their pants down,.poor MM's lol
Posted by tuckermen on :
Hey Winsum,
I bought additional shares on the 28th and did not get credit for them. I was told that the purchased shares didn't settle until May 2nd. However, in all fairness to Scottrade, I had sold a few shares of another stock and turned around and used the proceeds to buy ICAN on the 28th. Maybe if I had used settled cash to buy on the 28th I would have made out better. O'well still received 600k of free shares.
Posted by tntrader on :
Mine too...
Posted by NomarKash on :
A few buys pop it to .0004, love it.
Posted by Mack on :
we have moveage!!!!
Posted by Ramius on :
quote:Originally posted by Leardron:
quote:Originally posted by rickpic: I was looking at topographical maps of the area where the Ramada that IBAC is bidding on is located and its in a very good spot. Its the first hotel you come to right of a main highway and Willbranch Rd is where many of the larger hotels are located in Memphis. Its on 2mls from the airport and 2 miles from Graceland in the other direction. Seems to me that most of those 127 rooms at $59. to $69. per night should be full year rounds. The restaurant located right next door is a prime piece of land as stated in the PR. From my conversation with Ed yesterday evening, it seems he is ready to bid hard to get this lil gem that the bank took back from the current title holder. I personaly hope he gets this hotel restaurant property as it looks like a great addition to Ibac Corp. Its also only 2hrs from the Pine Bluff, Royal Arkansas Hotel and Gary Becker should have little trouble overseeing both locations and there managment. One way or the other we should know on the 25th or 26th of May.
The numbers on the Ramada look something like this.
127rms x $59.00 per night = $7493.00 a day
$7493.00 x 30 = $224.790.00 per month
$224.790.00 x 12 = $2.697.480.00 per yr
less an average 25% vacancy to be safe= $2.2 million
making this Ramada deal look like its profitable quick for anything under $4 million.
the restaurant which is closed at this time just seems like gravy on the deal and as is said the land is prime.
Cheers Rick
Cool, thanks rick. Looks like an early standoff this morning with the holders and buyers, LOL. No volume yet.
I'm not in the hotel business or anything, but I would guess that on an annual basis 25% vacancy is not enough.
Posted by Doctoall on :
quote:Originally posted by Mack: we have moveage!!!!
And we have stoppage Posted by Leardron on :
quote:Originally posted by Doctoall:
quote:Originally posted by Mack: we have moveage!!!!
And we have stoppage
LOL, yea really
Posted by Leardron on :
Here's news about the acquistion from the Memphis business Journal.
LATEST NEWS Memphis Business Journal - 3:04 PM CDT Monday IBAC will bid on Airport Ramada Inn at auction IBAC Corp. said Monday it will be an active bidder at the auction of the 127-room Ramada Inn and restaurant hotel near the Memphis Airport.
IBAC (OTC: ICAN) has already registered as a bidder and has tendered the required $100,000 cash deposit.
The property, built in 1986, will be auctioned on May 25. The planned acquisition is part of the company's growth plan for the next three years.
Gary Becker, president of The Royal Arkansas Hotel & Suites, an IBAC subsidiary, says the company sees the Ramada as a companion to its Arkansas property.
"We are very eager to acquire this property as it is only a two-hour distance from the other company-owned hotel in Pine Bluff, Ark. It will also add significant additional revenues and rooms and another restaurant to the company's operations," Becker says.
IBAC is a New York-based food and beverages services/hotel holding company. IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Posted by BlackWidow on :
.0002, WAAAUUUGGGHHHH!!!
Posted by Leardron on :
very slow day.
Posted by ya ya on :
Does anyone think this is the bottom @.0003,I am thinking about buying more
Posted by Leardron on :
quote:Originally posted by ya ya: Does anyone think this is the bottom @.0003,I am thinking about buying more
I definitley think for now. It all depends on what happens on the 25th. I think it will stay here until then. If we get the acquistions, this will move up. If we don't get the acquistions, it might move down to .0002.
Posted by bmaxingout on :
its funny how low the volume becomes when MM's stop selling what they dont have. Might see some pop real soon!!
Posted by dodint on :
Just wanted to point out that ChoiceTrade got me my shares yesterday.
I'm kinda wishing Ed wouldn't put out positive PR's. I've never seen a stock fall each and every time something good is mentioned. Posted by imakmony2005 on :
Got my shares this morning,now time will tell.
Posted by rickpic on :
Ramius
I figured 25% because of the proximity to the airport and the 2 mile distance to Graceland. Its also the first hotel you see coming off the highway. Could be a bit higher as an annual average.
The reason they lost the hotel to the bank was poor managment and I found tons of evidence of that in patron comments out on the travel sites.
I think its a great asset to add to our lil sub penny play!
Rick
Posted by Galaxy on :
IBAC Corporation Board of Directors to Explore Management Buyout 5/17/2005 11:28:01 PM
NEW YORK, May 17, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:ICAN) today after the bell announced that the Board of Directors has approved a requested action to explore bringing the company private via a buyout and has approved corporate counsel to pursue a management buyout that would return to the company to the private sector.
Management believes at this point of poor market conditions for its securities and shareholder discontent that a buyout from management and returning the company to the private sector would be a solid business decision. The Company will review all options and act accordingly, with the intent of the company being a private entity.
"I believe that this is the best course of action at this point since I have a major investment in this company and the share price has not performed the way I thought it should. I have advised my counsel to explore all the ways to bring the company private via buying any and all shares I need to. I respect all shareholders that have invested in the company and hope they will realize that this action is in the best interest of the Company," said Edward W. Hayter, President.
About IBAC Corporation
IBAC Corporation, a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group / National Hospitality Management Service/ Monarch Entertainment Group Worldwide and The Royal Arkansas Hotel & Suites, IBAC intends to grow aggressively throughout the next three years through acquisitions, mergers and the building of new establishments.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Copyright Business Wire 2005
Posted by Runamuck on :
WOW
Posted by Doctoall on :
quote:Originally posted by Runamuck: WOW
Exactly, so what does that mean for us ? Posted by deconstruct2000 on :
quote:Originally posted by Doctoall:
quote:Originally posted by Runamuck: WOW
Exactly, so what does that mean for us ?
I am going to assume this is bad. If not, explain why.
Posted by legaleagle on :
Buyout news may start a run in the morning.
Posted by INXS on :
If we go private,
The buyout could be at 0.0001 ?
How does it work ??
Posted by Stockdiva on :
Well, we own it and they want it back- bad? Don't think so. My take is they want more control because they see some viability- thus taking it private will reliquinsh shareholder input. This will be interesting...
Posted by BlackWidow on :
Two thoughts. . .they just gave us more shares, so EVEN if it's .0001 (which I don't remotely believe) they are still paying us more than they would have before the divy. Obviously something just changed.
Unfortunately, "we" may own it, but "we" don't own the majority of shares, so "we" don't get any say in the buyout price.
Ok, three thoughts. Are PRs such as this at 11:30 pm ever a good sign?
Posted by Ric on :
Hopefully you get a run off the news.
Being in the hotel business I tried and tell everyone once how bad the market was and the over valuation. But no one wanted to listen. And as far as the Ramada is concerned. I would agree that 2.2 million is probably a close gross revenue. But out of that the Net revenue is probably around $100,000. Most people don't think about the cost of running a hotel, linen and houskeeping costs are huge part of a hotel expenses. Also the constant repairs and upgrades. Continital Breakfast cost and 8.9% of gross revenues go to the Ramada Franchise, Cendant (owns Ramadas Franchise) makes the real money. Trip Reward program, who do you think pays for those free night stays. Most franchanises are making the hotels provide news papers, hair dryers, irons, boards, and even some require coffee pots. Do you realize the cost and the amount stolen. Also credit card companies will not let you charge stolen items to the guests bill. So if a hotel tries that all you have to do is report it to your card holder and they will remove the charge.
I think the buyback will be bad. If it is approved then the board sets the buyout price not the shareholders.
[ May 18, 2005, 02:08: Message edited by: Ric ]
Posted by TraderTom on :
"I believe that this is the best course of action at this point since I HAVE A MAJOR INVESTMENT in this company and the share price has not performed the way I thought it should"
I'd keep in mind that Ed must own quite a lot of shares (was it up to 1/2 billion?), so he should have an interest in getting a reasonable price. And unlike us, he does have the clout to negotiate the price!
To me it sounds a bit as if Ed's fed up with the PPS not moving anywhere, so he's trying to find another way to get a fair price.
Tom
Posted by going for gold on :
my guess is,i think we will recieve a share price anything from 0.0007 - 0.01.Huge spread,i know,but remember a while ago there was the pr that said a group of investors will buy ican shares at 0.01 max. Personally anything above 0.001 ,i settle for that,Can't imagine het wants to lose on his own investment, i'm sure he bought shares at 0.0006 and 0.0007 so it should be above that. Anyway you can't really blame ed for his
opinion.Must be a lot of frustration to see your pps not rising,when you do such much work for it.
i think he will get a fair value for his shares,he is in a very good position to negociate ,so if he gets a fair value,so will we
Posted by Taterhead on :
If they are giving fair value, we should see a run. Almost like another dividend.
Posted by dinger51 on :
What is everyone going to do with this?
Posted by Taterhead on :
quote:Originally posted by dinger51: What is everyone going to do with this?
Can't get much lower, I'm holding to see the cards.
Posted by Galaxy on :
It is good move if MM shorted the shares. Itwill screw MM's
Posted by WinsumLosesum on :
Since I doubt that this is the result of a whim, can anyone speculate as to how the events leading to this point fit together? Such as:
• IBAC Corporation Board Approves 300,000,000 Share Company Buyback Program NEW YORK--(BUSINESS WIRE)--April 19, 2005
* This action is separate from Mr. Edward W Hayter's ongoing buyback of up to 500,000,000 shares for his personal portfolio (Recently Announced) that is nearing completion and will be announced at the time of completion.
* NEW YORK--(BUSINESS WIRE)--May 12, 2005--IBAC Corporation (OTC.PK:ICAN) announces that its Board of Directors has now approved a restructuring of its authorized common shares from 20,000,000,000 to 12,000,000,000 effective immediately, the certificate of amendment has been filed with the State of Delaware by corporate counsel.
* IBAC Corporation to Negotiate an Increase to Their Existing Credit Facility for up to 20M Dollars for Further Acquisitions NEW YORK--(BUSINESS WIRE)--May 16, 2005
Posted by Leardron on :
quote:Originally posted by Galaxy: It is good move if MM shorted the shares. Itwill screw MM's
Definitley agree with you. Talked to guys on Pal Talk this morning and they said Ed talked to them in the room last night about this. Ed said that he is upset with the current share price and he thinks this stock should be at $3.00 per share. He still says that the O/S is only at 1.3 billion plus the 15% divy. He also said that he has been getting 80 calls a day from investors upset about the share price. The big part of this is that the MMs are under a short squeeze now. If Ed is right then this thing is heavily naked shorted and now the MMs are going to scramble to cover. The key word here is HOLD,HOLD,HOLD. The pps is going to fly on this with this news.
Posted by Leardron on :
Ed said he is done his 500 Million share buyback and is going to purchase as many shares that he can get his hands on. He said the company is worth 2.5 Million dollars right now and is sick of the shorting being done with the pps.
Posted by dinger51 on :
Winsum, I will definatly hold. I agree with you that something is up! I only hope they keep the company public.
Posted by Leardron on :
You have to remember that Ed can name any price he wants for the buyback because he owns the majority of the floats. Remember, he is going to pull all his certs and if he buys up the majority of the float, like he is planning, he could easily say the buyout is 5 cents per share and he pays basically nothing because he will own the float. The MMs will be screwed big time because the MMs will have to pay 5 cents per share for all the naked short shares they have out there. Believe me this is going to be very interesting and very good for the share holders. It is going to be fun to watch the MMs.
Posted by dinger51 on :
quote:Originally posted by Leardron: You have to remember that Ed can name any price he wants for the buyback because he owns the majority of the floats. Remember, he is going to pull all his certs and if he buys up the majority of the float, like he is planning, he could easily say the buyout is 5 cents per share and he pays basically nothing because he will own the float. The MMs will be screwed big time because the MMs will have to pay 5 cents per share for all the naked short shares they have out there. Believe me this is going to be very interesting and very good for the share holders. It is going to be fun to watch the MMs.
I will be here all day to watch. GLTA
Posted by INXS on :
I think we can see 1b share today.
Posted by Taterhead on :
quote:Originally posted by Leardron:
quote:Originally posted by Galaxy: It is good move if MM shorted the shares. Itwill screw MM's
Definitley agree with you. Talked to guys on Pal Talk this morning and they said Ed talked to them in the room last night about this. Ed said that he is upset with the current share price and he thinks this stock should be at $3.00 per share. He still says that the O/S is only at 1.3 billion plus the 15% divy. He also said that he has been getting 80 calls a day from investors upset about the share price. The big part of this is that the MMs are under a short squeeze now. If Ed is right then this thing is heavily naked shorted and now the MMs are going to scramble to cover. The key word here is HOLD,HOLD,HOLD. The pps is going to fly on this with this news.
Now it makes sense. Ed's going to stick it where the sun don't shine. The MM's are going to scramble to cover.
Posted by tntrader on :
I hope it's good for us. Time will tell.
Posted by tntrader on :
If this thing ever went to half of what Ed said it should be selling at... I would retire.
Posted by dinger51 on :
How long can we hold our shares? I am confused as to the future of ICAN
Posted by WinsumLosesum on :
I think I really missed a great entrepreneurial opportunity. With all that's been going on lately, I wish I had had the forethought to install Maalox vending machines in every Market Maker's offices. I'd be rich by now...
Posted by WinsumLosesum on :
quote:Originally posted by dinger51: How long can we hold our shares? I am confused as to the future of ICAN
Until the morning you wake up and no longer see your shares of ICAN, but rather extra cash in your portfolio? Am I right?
Posted by Leardron on :
quote:Originally posted by WinsumLosesum: I think I really missed a great entrepreneurial opportunity. With all that's been going on lately, I wish I had had the forethought to install Maalox vending machines in every Market Maker's offices. I'd be rich by now...
LOL
Posted by tntrader on :
I'll happily sell 100% of my shares to Ed for $0.05 and forget ICAN even existed. Someone please call him and let him know.
Posted by bond006 on :
i hope this work out ok for us share holder i have a good chunk of ican shares i would hate to see anything under .0005 per. to be honest i have never been through anything like this before. no control at all. the only thing to do is sit tight.
Posted by Leardron on :
quote:Originally posted by bond006: i hope this work out ok for us share holder i have a good chunk of ican shares i would hate to see anything under .0005 per. to be honest i have never been through anything like this before. no control at all. the only thing to do is sit tight.
Your right but keep in mind I think Ed has our best interest at heart and won't screw us. Just the fact that he came into the Pal Talk room last night after putting out the PR shows that he is on our side. He could have easily just put the PR out and not subject himself to all the questions about it that he did last night.
Posted by dinger51 on :
How long does this take place?
Posted by noah129 on :
im scared and excited dont know what to think of this .im sorta pissed a bit i was planning on holding this stock for as long as it takes.but if it pans out right which im skeptical it will we could all recieve a huge payout for holding on tight.we shall see.i would be happy with anything over a penny share payout.but even .001 would be alright too.
Posted by Galaxy on :
If he want screw us, just do R/S and go private. But he is really pissed off, MMs naked short. If everything goes well, MMs screwd big time.
Posted by WinsumLosesum on :
To anyone who observed that PalTalk room last night:
Did anyone just come out and ask Ed what his cost average was for HIS shares?
Posted by justplayin on :
Has anybody given the thought to a scare tactic by the company to make the mm's let this go to "real market value"?
The pr stated they were going to "explore", not that it is a done deal.
Just a thought!
GLTA
Posted by noah129 on :
galaxy i hope you are right thats all i can say.i dont want to be a pessimist but just out of cuation i want to try and see the downside of this.is it possible that he controls the majority shares and he can name the buyback at a very low price.destroy all the shares and reissue new ones in a private manner.not sure how this works but i am currently 4 million long and im not selling.i actually still have buy orders in for .0002.maybe we will luck out maybe ican really means icant.i have been very positive on this board since i joined it go back and look if you dont beleive me.but this news makes me weary like ive stated.it should be interesting if nothing else to see what cards we all have when its time to show them.i hope i have a royal flush and not a pair of two's.
Posted by bond006 on :
noah i feel a little like you i wanted to hold this i like ed and what he is doing but if we get a good pps that will make me happy
leardron thanks for your good input and research
Posted by mr money on :
I too am curious to see how this plays out. I'll be holding all my shares.
Posted by 4Tune4Me on :
I'm holding on to the rollercoaster, too...here comes the hilllllllll
Posted by bmaxingout on :
sounds alot to me like ed has been lieing his ****ing ass off what happened to the fully reporting roll over we have just been cought in the biggest pump and dump ive seen in a long time at this point i dont care if i get thrown off this board or not this is pure bull****
Posted by dinger51 on :
2 minutes....and here we go!
Posted by Leardron on :
quote:Originally posted by mr money: I too am curious to see how this plays out. I'll be holding all my shares.
Yep, that should be everyone's plan, just hold and see how this pans out. Might as well at this level.
Posted by rickpic on :
Good Luck everyone! When I started this thread way back when I knew it would be interesting!
GAME TIME!
Rick
Posted by Leardron on :
Nice volume out of the gate.
Posted by Taterhead on :
It's taking off
Posted by Runamuck on :
Huge volume already!!
Posted by Doctoall on :
quote:Originally posted by justplayin: Has anybody given the thought to a scare tactic by the company to make the mm's let this go to "real market value"?
The pr stated they were going to "explore", not that it is a done deal.
Just a thought!
GLTA
I agree with you here, maybe just a scare tactic Posted by dinger51 on :
quote:Originally posted by Doctoall:
quote:Originally posted by justplayin: Has anybody given the thought to a scare tactic by the company to make the mm's let this go to "real market value"?
The pr stated they were going to "explore", not that it is a done deal.
Just a thought!
GLTA
I agree with you here, maybe just a scare tactic
We will soon see who is bluffing!
Posted by 4Tune4Me on :
I second that agreement - I don't know that Ed is intending to follow thru.
Posted by Leardron on :
quote:Originally posted by dinger51:
quote:Originally posted by Doctoall:
quote:Originally posted by justplayin: Has anybody given the thought to a scare tactic by the company to make the mm's let this go to "real market value"?
The pr stated they were going to "explore", not that it is a done deal.
Just a thought!
GLTA
I agree with you here, maybe just a scare tactic
We will soon see who is bluffing!
I don't think this is a scare tactic. From what the guys say he said on Pal Talk last night, this is the real deal. We will see though.
Posted by Taterhead on :
Lots of buys.
Lets hold and stick it to the MM's
Posted by bmaxingout on :
still holding dont let me down ican
Posted by bond006 on :
this will be interesting and it is sure fun to be part of it win loose or draw glta
Posted by Leardron on :
I don't think you are going to see this really fly till ed puts out a PR that shows he is really serious about the buyout. He needs to give a date and buyout amount. Then it will fly.
Posted by dinger51 on :
anyone buying more here?
Posted by Runamuck on :
I am showing all buys anyone else?
Posted by entplaya on :
Ok, i wish I had known this board was here so i could keep up with what everyone's sentiment was on ICAN. I don't know how I let this slide by. I also wish I knew that everyone was meeting on Paltalk pretty regularly.
Did anyone get in on VYNC when it nearly quadrupled last month? how is it that occured when there have been no reports on that company in the last several months? Is Ed trying to spin everything off to that company after privatization if he does do it?
Posted by going for gold on :
lerdron,question for you,did ed really mentioned 3$ a share?
Posted by Leardron on :
quote:Originally posted by entplaya: Ok, i wish I had known this board was here so i could keep up with what everyone's sentiment was on ICAN. I don't know how I let this slide by. I also wish I knew that everyone was meeting on Paltalk pretty regularly.
Did anyone get in on VYNC when it nearly quadrupled last month? how is it that occured when there have been no reports on that company in the last several months? Is Ed trying to spin everything off to that company after privatization if he does do it?
Ed told the guys at Pal Talk that VYNC is NOT going to be the spinoff company. Of course if he takes this private there won't be any spinoff. I think VYNC ran simply on rumor.
Posted by justplayin on :
Buying slowing, pps even slower.
Guess this news means nothing to the investment community Posted by Leardron on :
quote:Originally posted by justplayin: Buying slowing, pps even slower.
Guess this news means nothing to the investment community
Just to let you guys know the guys over at Pal Talk just proved the MMs are playing games. A guy just bought 40 Million share at .0004 and it never showed on the tape. They called Ameritrade and asked they why the volume didn't show and they said the MMs don't have to show the volume until the end of the day because this is a pink sheet. Pink Sheets volume need to be entered manually and they have till the end of the day to put the orders through. Thus they are playing a game with us to try and show there is no buying interest. You watch, at the end of the day all these orders will all the sudden go through. The best thing to do now is just hold on.
Posted by bmaxingout on :
still holding i sure hope that the MM's get what is coming to them for what they have done to ican
Posted by Runamuck on :
Man that is JACKED!!!
Posted by bond006 on :
i hope they get it if they were in my outfit they would be taking point right now
Posted by noah129 on :
this is so strange i never expected this i guess that is what pinkland is all about the unexpected.good luck to you all to me this has been a ride full of hope frustration excitement and dissapointment.i still have a bit of faith that all can be worked out for my giving this company my hard earned money for paper shares.i sure hope that one day i make a bit of money off ican shares.
Posted by scoopman on :
I use TD Waterhouse and ICAN's volume has been stuck on 59,815,432 shares traded since 10:36am. Now Leardron has got to be onto something with the MM's delaying buys and sells to manipulate a stock's trading "interest". I can't imagine nothing going on for the last 45 minutes.
I am holding strong, I have had enough bad luck lately, I need to eventually have that change for the better. I just have a good feeling and sometimes you just have to go with your gut.
GLTA Tom
Posted by justplayin on :
Vol. 59,815,432 Time 10:36:09 is what Schwab is showing.
Can't wait to see what is really happening. Maybe the mm's are really sweating and hoping the volume scares people into selling.
Posted by entplaya on :
Why would Ed want to privatize instead of spinoff to a fully reporting OTCBB or smallcap company? He could offer .01 - .05 per share for the privatization (which I doubt), but spinning all this off to a fully reporting company would be a wiser thing and more beneficial thing wouldn't it?
Posted by Leardron on :
quote:Originally posted by justplayin: Vol. 59,815,432 Time 10:36:09 is what Schwab is showing.
Can't wait to see what is really happening. Maybe the mm's are really sweating and hoping the volume scares people into selling.
I can almost bet you that the volume will stay around here ntil around 3:30 or so and then BOOM. You will probably see like 100 to 200 Million shares go through as they finally record them. I think right now they are only showing the sells and not the buys. We will see.
Posted by justplayin on :
Because they don't report. The vaule of the company may be larger than we think. When you buy something don't you look for the best product at the lowest price?
The company and private shareholders could possible make serious $$.
Also, it is the pain in the a$$ investors calling countless times a day wanting to make some bank interrupting daily activities that allow them to make progress.
Posted by 4Tune4Me on :
or...maybe Ed has delays in fully reporting and accounting for all shares by buying them to stop the shorts was the best possible alternative for him to drive pps.
Posted by ya ya on :
maybe he wants to go private to have more say in the company then when he drives the company up can always go public again.Being a publicly traded company means everything goes to vote with the board having a big say in the direction of the company.Seagate is a large company that went private then public again.So who knows what's going to happen and we can just hope it goes up when they do go private.
Posted by Leardron on :
Just some insight on what ed might be thinking as a buyout price. The guys on Pal Talk said he asked them if they would like a .001 buy back price. I would like to get alot more but .001 wouldn't be terrible. We will see.
Posted by justplayin on :
quote:Originally posted by ya ya: maybe he wants to go private to have more say in the company then when he drives the company up can always go public again.Being a publicly traded company means everything goes to vote with the board having a big say in the direction of the company.Seagate is a large company that went private then public again.So who knows what's going to happen and we can just hope it goes up when they do go private.
The reason for a company to go public is to get capital for growth and maintain some form of cash flow.
If Ed already owns a majority share like is claimed here, then he already has the power to move the company in the direction he wants.
And, as an investor I would not be happy with .001 or I would have pulled the plug when it hit .0009!
If the company went private and then public again, it would appear that they only want a loan. It is a bigger gamble for the investor and less for a bank. I EXPECT rewards when I loan money knowing that I risk losing it all!
Posted by Galaxy on :
Ed is right, ICAN came to public, to rais capital and execute the business plan ( which is make $125 mil reven. per year). that way, ICAN no need to go to bank or mortgage company to borrow money ( I believe, some of mortgage is 18 to 20%). But in real, MMs or something played and the stock price didnt go what he expected to raise capital. so now, he is having options, borrow money from BANK, mortgage or private investor to execute his plan ($125 mil rev/year). when you go to private investor ( they mostly look for 35% returns as per my knowledge). so its only option to go private. just my thoughts. :-)
Posted by bmaxingout on :
quote:Originally posted by Leardron: Ed said he is done his 500 Million share buyback and is going to purchase as many shares that he can get his hands on. He said the company is worth 2.5 Million dollars right now and is sick of the shorting being done with the pps.
if this is true than our shares should be worth .00167 please correct me if im wrong
Posted by going for gold on :
ok i like 0.01 for my shares,i like even 0.05 better,can you tell this to ed,leardron ps don't want to sound greaty
Posted by Leardron on :
quote:Originally posted by going for gold: ok i like 0.01 for my shares,i like even 0.05 better,can you tell this to ed,leardron ps don't want to sound greaty
Yea, that's pretty much what the guys said to him last night from what I understand. At the current pps I'll take anything that gives me a profit on this one.
Posted by bond006 on :
i agree i would like anything that i show profit in this one. even if i have only a little skin left on my hide i would be thankful.dam those mm's
Posted by Runamuck on :
Where is this Pal talk that I hear so much about?
Posted by Runamuck on :
Nevermind found it..
Posted by bond006 on :
i really don't think we will a great position if guys have any ideas on how to improve it please post it. glta
Posted by dinger51 on :
Anything oon Pal Talk last night after I left at 10:00? Did Ed Show Up?
Posted by Leardron on :
quote:Originally posted by dinger51: Anything oon Pal Talk last night after I left at 10:00? Did Ed Show Up?
Don't know. I wasn't on last night and there is only 3 people in the room right now including myself .
Posted by Runamuck on :
More volume then QBID this morning and still wont move...
Posted by Ramius on :
I just sold guys...don't feel real good about it since my average in price was .0005, but I need the cash to refinance some investment property. GL.
Posted by Leardron on :
quote:Originally posted by Ramius: I just sold guys...don't feel real good about it since my average in price was .0005, but I need the cash to refinance some investment property. GL.
How many shares, just curious if you want to say.
Posted by Leardron on :
Has anyone else sold any. Just curious because we are just trying to determine if people are selling or are the MMs playing a game.
Posted by scoopman on :
Holding my 2.3 Million
Posted by NomarKash on :
Holding strong.
Posted by bond006 on :
i am still holding all 11.5million after splitand i tell if ed was thinking .01 it looks pretty good right now. it tough be we have to gut this baby out
Posted by Mack on :
holding @ 3.5m
Posted by bond006 on :
it the mm's leardron it thier way of kicking back 1 think we may have a little skrimish on our hands
Posted by Ramius on :
quote:Originally posted by Leardron:
quote:Originally posted by Ramius: I just sold guys...don't feel real good about it since my average in price was .0005, but I need the cash to refinance some investment property. GL.
How many shares, just curious if you want to say.
1,610,000 shares--this is among some of my other positions selling.
Posted by Leardron on :
quote:Originally posted by Ramius:
quote:Originally posted by Leardron:
quote:Originally posted by Ramius: I just sold guys...don't feel real good about it since my average in price was .0005, but I need the cash to refinance some investment property. GL.
How many shares, just curious if you want to say.
1,610,000 shares--this is among some of my other positions selling.
thanks for the info.
Posted by farmgirl on :
Holding and triing to buy
Posted by Galaxy on :
Holding :-)
Posted by bmaxingout on :
8,625,000 and holding
Posted by subbywrx on :
I dunno but I think ICAN is going to be like HPON......just MHO. I'm still holding though.
Posted by bmaxingout on :
im holding untill ed pulles them out of my cold dead fingers...lol
Posted by gfowler1 on :
15m after div and holding
Posted by stockaholic on :
1.1 mil and not selling a single share until I get more info. Avg at .00045, I'll even take a .001 buyout now and move on happy.
Posted by farmgirl on :
1.5 mil average .0004
Posted by NomarKash on :
quote:Originally posted by Runamuck: More volume then QBID this morning and still wont move...
Neither will QBID Posted by dinger51 on :
Looks like it's stuck again!
Posted by bmaxingout on :
the thing that gets me the most pissed about all of this is that until the last pr i didnt even care about the pps. I wanted the fully reporting spinoff that was supposed to happen at the end of the second quater.and ican to become fully reporting.IMHO i think that if ican were fully reporting that the MM's would have to leave ican alone. now correct me if im wrong but i believe that the spinoff is what everyone bought ican for. I think that ed should finish what he started and do what he said he would. and that is to bring true value to the long holders of this company
Ed do the right thing and finish what you promised
Posted by bond006 on :
i agree i was in this for the spin offs and the future deals down the line and i wish that was in the cards but times change and we are not in the drivers seat i wish things looked different but they don't i am with most of ed do what you said. if not help us out with a little profit
Posted by entplaya on :
What's up with the 130M shares that have moved in the last 30 minutes???? Has anyone here been putting in sells/buys around 5 - 10M?
Posted by Mack on :
wow where did that vol come from !!!!
Posted by going for gold on :
want to ask the same question,dont quite understand it myself
Posted by Leardron on :
quote:Originally posted by Mack: wow where did that vol come from !!!!
Hang on to your hats more is coming. Just pop over to Pal Talk if you want to know what is going on. Right now Ed is having a buy up war along with another large investor right now. This is going to be fun.
Posted by dinger51 on :
I can't get PT. I am a teacher at school. Could someone give me some details asap
Posted by entplaya on :
Ditto on pal talk. I can't get on because of company firewall... Is there some updates that can be put on here?
Does anyone have level 2? What does that look like?
Posted by dinger51 on :
"buy up war along with another large investor"
Does this mean the move to the private sector may be on hold?
Posted by Leardron on :
quote:Originally posted by dinger51: I can't get PT. I am a teacher at school. Could someone give me some details asap
Here is the details so far. One of the guys on Pal Talk called ed and basically challenged him to start doing his buyback. There is another large investor that comes into Pal Talk frequently have has 550 Million shares. He said he would match every share that ed purchases. So far they both bought 50 Million shares and there are getting ready to do another round shortly. They are ultimately trying to do this to PR it and show that just between two share holders that they own the float and that this is being naked shorted.
Posted by going for gold on :
really amazing,go ed
Posted by dinger51 on :
quote:Originally posted by Leardron:
quote:Originally posted by dinger51: I can't get PT. I am a teacher at school. Could someone give me some details asap
Here is the details so far. One of the guys on Pal Talk called ed and basically challenged him to start doing his buyback. There is another large investor that comes into Pal Talk frequently have has 550 Million shares. He said he would match every share that ed purchases. So far they both bought 50 Million shares and there are getting ready to do another round shortly. They are ultimately trying to do this to PR it and show that just between two share holders that they own the float and that this is being naked shorted.
Thanks Leardron, I know you are busy, but whenever you get a chance, keep it coming.
Posted by entplaya on :
Thanks Leardron! I wish I had some more money in my account I would buy more of ICAN. Oh well...
Posted by going for gold on :
i love being a share-holder of ican right now,man 500m from ed and 550 from the other investor,that's a lot of shares and still they are buying,never see this before,has anyone?????????
Posted by NomarKash on :
Leardon, what is the float according to Ed?
Posted by bond006 on :
thanks leardroni have trouble with paltalk to
Posted by dinger51 on :
quote:Originally posted by going for gold: i love being a share-holder of ican right now,man 500m from ed and 550 from the other investor,that's a lot of shares and still they are buying,never see this before,has anyone?????????
No, but if this is happening, this may just work!!
Posted by Leardron on :
quote:Originally posted by NomarKash: Leardon, what is the float according to Ed?
Ed is still swearing up and down it is only at 1.5 Billion after the divy. If that's is true, and we do believe him, then they are shorting the crap out of this. Hopefully the MMs are crapping themselves right now.
Posted by dinger51 on :
Is anyone else going to buy more?
Posted by Leardron on :
quote:Originally posted by dinger51: Is anyone else going to buy more?
Here comes the next run. That big block was from the investor, now it is Ed's turn. I am loving this.
Posted by Mack on :
so am i!!!!!
Posted by dinger51 on :
WOW
Posted by going for gold on :
well you have to give ed some credit,battle of the giants ,lol by the way hope that the mm's some day need to get a loan to pay there naked shorted,maybe ed can give them a loan as in 35% intrest rate Posted by dinger51 on :
I would love to see the L2 on this right now. LOL
Posted by 4Tune4Me on :
Thanks to Ed for the courage and the conviction to prove that ICAN is being robbed blind by shorting!
Posted by bmaxingout on :
god speed ed
Posted by Runamuck on :
I hope this makes news and how a CEO saved his company from naked shorting... I believe its being naked shorted now with this much volume crap ass movement...
Posted by bmaxingout on :
i im putting my shares out there for .01
Posted by dinger51 on :
Is there anyone that would buy more right now?
Posted by going for gold on :
need some glasses,see the volume it just doesn't mke sense to me
Posted by bmaxingout on :
if all the shares out for sale are at .01 or higher that should squeeze the hell out of the mm's jmho
Posted by Leardron on :
quote:Originally posted by Runamuck: I hope this makes news and how a CEO saved his company from naked shorting... I believe its being naked shorted now with this much volume crap ass movement...
Yep, that's the other part of the proof. If we hit 1 Billion share traded today and it doesn't make a significant move, They have their proof to the world that this is being shorted by the MMs.
Posted by stockaholic on :
What room on Pal Talk do they use?
Posted by ya ya on :
I will buy more if i see its going up steadily.
Posted by Runamuck on :
Penny traders unite hahahha
Posted by Leardron on :
quote:Originally posted by stockaholic: What room on Pal Talk do they use?
Penny Stocks-ICAN. If you do a search of the rooms and just type ICAN,it will bring it up.
Posted by bond006 on :
dear lord the skrimish has turned into a war. good idea maybe we should all put our shares out for .001
Posted by going for gold on :
leardron question for you,,what will ed and the other investor do with there shares,once the mm 've stopped the shorting,thing is ,those shares they 're buying today don't really exist,according to the o/s ed gave us .
Posted by Leardron on :
quote:Originally posted by going for gold: leardron question for you,,what will ed and the other investor do with there shares,once the mm 've stopped the shorting,thing is ,those shares they 're buying today don't really exist,according to the o/s ed gave us .
Well, here is the thing. I don't think Ed really believed until today that ICAN was being shorted. After seeing the volume himself and knowing that he and this other investors have made these large buys but it hasn't move now has him pissed. What he could do it call a halt to trading on ICAN after this and pull all the certs and do a share count. When he proves that the MMs have shorted the stock, they will have to buy back all those shares that they shorted. Whether he will do that or not, I am not sure.
The other thing is if he takes the company private, like he said and owns all the float, he can turn around and basically set any price he wants for the buyback and screw all the mms because they will have to cover that cost.
Guess we will have to see what Ed does. I think this really opened Eds eyes as to what is happening on the pink sheets.
Posted by bmaxingout on :
quote:Originally posted by Leardron:
quote:Originally posted by dinger51: I can't get PT. I am a teacher at school. Could someone give me some details asap
Here is the details so far. One of the guys on Pal Talk called ed and basically challenged him to start doing his buyback. There is another large investor that comes into Pal Talk frequently have has 550 Million shares. He said he would match every share that ed purchases. So far they both bought 50 Million shares and there are getting ready to do another round shortly. They are ultimately trying to do this to PR it and show that just between two share holders that they own the float and that this is being naked shorted.
im still only showing 39 mill on the nasdaq site
good work leardron
Posted by bmaxingout on :
thats 320 mill
Posted by dinger51 on :
Scottrade is at 327,716,164
Posted by bmaxingout on :
sure hope Ed bloodies their noses in this fight
Posted by dinger51 on :
"he can turn around and basically set any price he wants for the buyback and screw all the mms because they will have to cover that cost."
So would it be advantagous to buy more?
Posted by going for gold on :
just hope that ed will think about us a little,i've hold my shares since nov 2004,don't like to be punished for the fact that i really believe in ican, after the divy i'll have 16,1 m shares .
Posted by NomarKash on :
quote:Originally posted by dinger51: "he can turn around and basically set any price he wants for the buyback and screw all the mms because they will have to cover that cost."
So would it be advantagous to buy more?
If you believe. Which I do!, go ICAN
But just think. This is only one scenario. Ed can do a lot of things at this point.
Posted by Runamuck on :
quote:Originally posted by dinger51: Scottrade is at 327,716,164
thats what I am showing too. 127 million yesterday and 327 million today and it doesnt move?
Maybe I am a newbie to penny stocks but help me understand this....
Posted by Leardron on :
quote:Originally posted by NomarKash:
quote:Originally posted by dinger51: "he can turn around and basically set any price he wants for the buyback and screw all the mms because they will have to cover that cost."
So would it be advantagous to buy more?
If you believe. Which I do!, go ICAN
But just think. This is only one scenario. Ed can do a lot of things at this point.
You got it Nomar. Right now Ed has all the momentum behind him all he has to do now it do something with it. Right now the investor and Ed are conferring so that's why the volume slowed down, not sure what they might have up their sleeve, we will have to see.
Posted by stockaholic on :
Thanks fopr the info Leardron!
Posted by Runamuck on :
I was reading raging bull they keep talking about TA gag sorry what the hell is that?
Posted by Leardron on :
Get ready guys. It's Ed's turn and another 50 Mil going to go through.
Posted by going for gold on :
wow, go ed ,those mm's most have a lot of shares in their pockets i think they xerox them Posted by Leardron on :
quote:Originally posted by going for gold: wow, go ed ,those mm's most have a lot of shares in their pockets i think they xerox them
LOL you got that right.
Posted by Runamuck on :
427 mil and it hasnt moved...
Posted by Leardron on :
100 Mil went through!!!!
Posted by going for gold on :
just crazy
Posted by dinger51 on :
quote:Originally posted by Leardron: 100 Mil went through!!!!
If Ed is in the room on Pal Talk, beg him to stick it to the MM's but don't go private!
Posted by Galaxy on :
who is that 10,000X.0004 = $40 ??
Posted by Leardron on :
Okay, get ready guys. Investor is ready to let it fly.
Posted by going for gold on :
hope they 've got wings or a parachute,lol Posted by Leardron on :
We got 5's.
Posted by stockaholic on :
This is unbelievable!!! Approaching 550 mil. volume and they're still holding it down.
Posted by Leardron on :
Okay guys. Just so you know, the private investors says he has access to $500,000. This is going to be fun.
Posted by mikensay on :
quote:Originally posted by Leardron: Okay guys. Just so you know, the private investors says he has access to $500,000. This is going to be fun.
That's enough. Hope he uses it.
Posted by going for gold on :
i think we will never see anything like this ever again,may the force be with ed and the investor
Posted by Galaxy on :
yeap. we are @ .0005
Posted by entplaya on :
yeah, we're at .0005, but only minute volumes have moved at .0005.... one for 999,000 and one for 340,000
Posted by NomarKash on :
4 pages of posts today, I like the interest this is causing....
Posted by Leardron on :
Another 60 million coming through from the investor.
Posted by NomarKash on :
....
Posted by NomarKash on :
How are the MM's still holding this down???
Posted by Leardron on :
quote:Originally posted by Leardron: Another 60 million coming through from the investor.
Spoke too soon. He said give him about 20 minutes or so but it will definitley push the total over 600 Million when he puts it in.
Posted by going for gold on :
what a day
Posted by bmaxingout on :
quote:Originally posted by Galaxy: who is that 10,000X.0004 = $40 ??
if i had forty bucks i would be helping ed as much as i could.ive been buying ican for a while now every paycheck i get i take some amount of it and buy ican shares. if i had an extra twenty id be buying ican right now i might be pissed about what has happened to our company but we still own shares in one the best run companies ive seen
GO ED
go ed go
Posted by bmaxingout on :
dont the mms know what is happening can they really be this stupid
Posted by Mack on :
let the mm get busted its good for us!!!!
Posted by bmaxingout on :
ameritrade shows .0003 whats up with that
Posted by Runamuck on :
no movement wtf Posted by USF11 on :
This is the day by day volume with highs and lows from nasdaq.com if you click on ICAN's chart notice until 04/26 we were trading 5-6 digits deep and since we use alphatrade which only goes 4 digits we never saw any of these trades for example .00049 is only seen as .0004. Does this have anything to do with the manipulation of the stock price?
a half a billion shares traded and back where we started
Posted by Runamuck on :
500 million in buys... about 50 million in sells through out the day. Thats it..
Posted by stockaholic on :
Guy on Pal Talk is right. This vlomue spike is going to show up on everyone's filter tomorrow and could get even crazier.
Posted by going for gold on :
i 'am sure ed will be very pissed,leardron any comment from the man himself?
Posted by Leardron on :
quote:Originally posted by going for gold: i 'am sure ed will be very pissed,leardron any comment from the man himself?
Not yet, but he was talking to another guy on the board on the phone and said he was pissed with the volume and movement. I am sure he will come on Pal Talk tonight. We will see. He really, really needs to follow this up with a PR tonight to keep this going.
Posted by ya ya on :
Jump on everyone its going to be a crazy ride.
Posted by bond006 on :
i have never seen anything like this it will go on tomarrow and who knows where it will end i hope ed puts a pr out tonite
Posted by going for gold on :
would a good idea ,otherwise a pr for the buy-out,all shares for 0.05 ,that will hurt those mm's Posted by stockaholic on :
quote:Originally posted by Leardron:
quote:Originally posted by going for gold: i 'am sure ed will be very pissed,leardron any comment from the man himself?
Not yet, but he was talking to another guy on the board on the phone and said he was pissed with the volume and movement. I am sure he will come on Pal Talk tonight. We will see. He really, really needs to follow this up with a PR tonight to keep this going.
Hopefully he's writing it right now
Posted by Leardron on :
No more for today from Ed or the Investor. Investor said his broker can't get anymore today, He is overseas. Will crank it back up again tomorrow. Hopefully we will still see a 5 at the end.
Posted by Runamuck on :
Yeah the investor said he had an order for 60 million in and they wouldnt fill it couldnt fill it or something..
Posted by going for gold on :
so tomorrow the return of ed and the investor(part2) i'll be there
Posted by stockaholic on :
IBAC Corporation to Increase Company Share Buyback May 19, 2005 4:19:00 PM ET
IBAC Corporation (OTC.PK:ICAN.PK) Today announced that they will increase the previously announced company share buyback from up to 300M to 750M shares on the open market by September 30, 2005. The Company has purchased 200M shares today on the open market through a third party.
Beautiful!!!!
Posted by rickpic on :
looking better today thats for shore!
Cheers Rick
Posted by Leardron on :
ED Comes through with the PR!!!
IBAC Corporation to Increase Company Share Buyback
NEW YORK, May 19, 2005 (BUSINESS WIRE) -- IBAC Corporation (OTC.PK:ICAN.PK) Today announced that they will increase the previously announced company share buyback from up to 300M to 750M shares on the open market by September 30, 2005. The Company has purchased 200M shares today on the open market through a third party. Forward Looking Statements:
This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Posted by bond006 on :
just left pal talk what a great day for the white hats the mm's look like they are in a jam and it couldn't happen to a nicer bunch. but the story is not over yet i can't wait until tomarrow. i hope most of you stayed long glta see you tomarrow
Posted by tntrader on :
Great day today.
Can someone please explain to me what we, as non-majority share holders, should expect from all this? What happens next? Ed and "Investor" continue to buyback, but what happens to us?
Does anyone know? If not, why is everyone so happy (other than those who got in below .0005...
Thanks in advance for any insight.
Posted by Leardron on :
Hey guys, just to let you know I won't be here tomorrow to relay info from Pal Talk. I know there are some othe guys on here that are on Pal Talk and I am sure they will relay the info. I hate to miss all the fun but I will be on the road. I will try to check in around lunch to see what's going on. Keep it up Ed!!!
Posted by Runamuck on :
I will try to inform them hahah.. I should be around..
Posted by imakmony2005 on :
looking good guys-gals.
Posted by bmaxingout on :
wow what a day imho this doesn't appear to look like a company that is about to go private.why would anyone drive the price up by getting into a buying war with "investor" these two are up to something big over on the paltalk site investor is saying that this has just begun kinda looks like the two of them are putting the the big squezzzze onto the dirty MM's im taking the day off from work tommorow just to watch this thing fly
Posted by Mack on :
i hear ya bmax, ill be watching also
Posted by deconstruct2000 on :
Anyone else think he may have put that little news blurb about going private out to generate more interest in the company?
Posted by Mack on :
i think its possible but im sure after he saw his company being shorted like it was getting today it pissed him off enough to do something about it...
Posted by Runamuck on :
How do we know the float is 1.5 billion? Just curious.
Posted by STG1 on :
First off I'd like to say that I do not currently own ican. Next, I'm still fairly new to this online trading stuff so please bare with me on this one.
OK, so I was finally getting the hang of my Scottrade account and they went up and changed it on me. While I was rumbling/fumbling through it I came across the cancelled orders section and it struck me as odd. I did a little cut and paste and here it is.
Canceled Orders Good til cancel orders in the following, entered prior to the close on 04/26/05, will be canceled due to splits today (04/27/05). Use caution in re-entering these orders as it is the customer's responsibility to be sure the quantity is correct for post split trading.
Effective Symbol Split 04/26/05 ICAN 15% stock dividend 04/26/05 ICEW 1:80 reverse split 04/26/05 LAKE 10% stock dividend
I did go back to the old sight and it was not there. hmmm...I do not want to cause an uproar but thought you all should be privy to it "if" it is valid.
Posted by TraderTom on :
Let's do some quick math:
500M Ed's private shares 300M Previous company buyback 200M Today's company buyback 200M Private investor today 200M Other private investors (lowball guess) ==== 1,400M or 1.4 Billion, which is VERY close to the float of 1.5 Billion.
I assume the MMs pretty much naked-shorted all day long, which puts them at about 400M short right now. So the MMs may already be several 100M (300M?) above the issued number of shares!
Everyone just hold tight to your shares - if the MMs start covering and additionally have to compete with Ed and the "Private Investor" for shares, we may esperience the mother of all short squeezes!
IMHO, just based on assets and revenues, the valuation of the IBAC should easily be $15million, or at least 0.01/share. I think that's why Ed is so upset.
Posted by Ric on :
Used to be a STG1, was in the first class for the lamps II and towed array system on a surface vessel on the USS Curts FFG-38.
Posted by Ric on :
Ed's private shares are not part of float. Can't be never no way impossible. Officers on the board and Officers of the company shares are all restricted (insider shares) no matter how they got them and are not part of float.
Posted by STG1 on :
I did my time doing the same on the Thach FFG-43
Posted by TraderTom on :
Thanks, Ric, I got too excited. I still think the MMs cannot hold this down much longer with this kind of volume; they know they need to cover at some point.
I'm somewhat confused, though: The float was about 1.3-1.4 billion back in Feb, when the Ed announced his 500M buy. They then announced a company buyback of another 300M, which should have reduced the float to much below 1 billion. So how can we be back to 1.5 billion float - dilution? The 15% dividend explains part of the increase, but not all of it.
Posted by dinger51 on :
I just put an order in. I think this thing will take off.
Posted by tntrader on :
I sure hope so!
Posted by charlie7702 on :
I,ve never posted before, but I have been here for the past few months reading along everyday. last night I decided to go to paltalk for the first time and when I went to the ICAN room I got booted out, now they say it will be 24 hours before I can go back in, dose this happen to anyone else? i wasnt chatting, I was only reading
Posted by Galaxy on :
Charlie. It is working good. you can enter into ICAN rooom
Posted by Galaxy on :
IBAC Corporation Addresses Possible Naked Short Selling in its Securities Friday May 20, 8:42 am ET
NEW YORK--(BUSINESS WIRE)--May 20, 2005--IBAC Corporation (Pink Sheets:ICAN - News) today acknowledges its concerns regarding the possible naked short selling of its common stock and urges shareholders to request that their shares be delivered to them in certificate form from their broker/dealers in order to help stop this manipulative practice. IBAC Management will initiate a thorough investigation to determine if its stock is being naked shorted and applauds Pink Sheets, L.L.C. CEO R. Cromwell Coulson's petition to SEC Secretary Jonathan Katz to amend Rule 3360 to require short interest reporting for all OTC equity securities. "Manipulative naked short selling by broker-dealers operates as a fraud on the market causing investors to lose confidence in the fairness and legitimacy of OTC markets," Cromwell wrote in his petition.
"While short selling may be the industry's dirty little secret this company will not stand by and watch its hard work and earnest efforts to build a legitimate business get destroyed," said IBAC President Edward W. Hayter, "naked short selling undermines the market's ability to justly and accurately reflect the price of the companies securities, and directly affects the company and its shareholders and will not be tolerated."
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
-------------------------------------------------------------------------------- Source: IBAC Corporation
Posted by bmaxingout on :
i have no idea why you would`get booted last night things`were getting a little heated so its not a big suprise all i can say is try again when you can. i know that there has been problems with bashers running off saying things that are completely wrong.so it is possible that someone thought you were someone else.the maybe try changing your log in name.good luck
well all today im very excited about what is about to happen last night i had all of my shares put into cert form. now if someone wants my shares they will.Im holding firm in what i beleive and that is ican will fly
fasten your seat belts today we leave the ground
good luck Ed good luck "investor" good luck all
Posted by tntrader on :
Go Ed!
Posted by NomarKash on :
quote:Originally posted by Galaxy: IBAC Corporation Addresses Possible Naked Short Selling in its Securities Friday May 20, 8:42 am ET
NEW YORK--(BUSINESS WIRE)--May 20, 2005--IBAC Corporation (Pink Sheets:ICAN - News) today acknowledges its concerns regarding the possible naked short selling of its common stock and urges shareholders to request that their shares be delivered to them in certificate form from their broker/dealers in order to help stop this manipulative practice. IBAC Management will initiate a thorough investigation to determine if its stock is being naked shorted and applauds Pink Sheets, L.L.C. CEO R. Cromwell Coulson's petition to SEC Secretary Jonathan Katz to amend Rule 3360 to require short interest reporting for all OTC equity securities. "Manipulative naked short selling by broker-dealers operates as a fraud on the market causing investors to lose confidence in the fairness and legitimacy of OTC markets," Cromwell wrote in his petition.
"While short selling may be the industry's dirty little secret this company will not stand by and watch its hard work and earnest efforts to build a legitimate business get destroyed," said IBAC President Edward W. Hayter, "naked short selling undermines the market's ability to justly and accurately reflect the price of the companies securities, and directly affects the company and its shareholders and will not be tolerated."
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Nice, Ed does everything he says he will! Stick it to them Ed.
Posted by Mack on :
getem ed!!!!!!
Posted by Mack on :
7 m right off the bat
Posted by dinger51 on :
does your broker have to give you Certs?
Posted by dinger51 on :
Need some updates from PAL TALK Please.
Posted by lilpennypincher on :
NIIIIIIIICE!
Posted by bmaxingout on :
we are behind you all the way ed GET EM
Posted by dinger51 on :
Tried to buy more and got this
"Only orders that liquidate positions are allowed."
Someone explain!
Posted by Runamuck on :
Thats a weird one never seen that...
Posted by dinger51 on :
Runamuck, anything on PAL TALK?
Posted by Forrestgump on :
Just download paltalk.com. Its free. ICAN will move today...rumor more buyback coming from private investor...shoulb be a interesting day...
Posted by dinger51 on :
quote:Originally posted by Forrestgump: Just download paltalk.com. Its free. ICAN will move today...rumor more buyback coming from private investor...shoulb be a interesting day...
FIREWALL
Posted by Runamuck on :
I am not on pal talk wont be for a few more hours. Then I will give some updates unless someone else does.
Hahah they dropped the bid wtf some volume came in guess someone sold.
Posted by Runamuck on :
Moving now or I am seeing allot more volume anyways.
Posted by dinger51 on :
quote:Originally posted by Runamuck: I am not on pal talk wont be for a few more hours. Then I will give some updates unless someone else does.
Hahah they dropped the bid wtf some volume came in guess someone sold.
thanks
Posted by lilpennypincher on :
Just got in at .0004
Posted by tntrader on :
Welcome lil!
Posted by 4Tune4Me on :
I love when Ed follows thru! Go Ed!!!
Posted by dinger51 on :
Tried again to get in and got "Only orders that liquidate positions are allowed." Please someone explain this to me!!
Posted by cyclekitty on :
Just got filled 1,000000 at .0004 Good Luck everyone!
Posted by Mack on :
welcome to ican cycokitty!!!
Posted by dinger51 on :
quote:Originally posted by dinger51: Tried again to get in and got "Only orders that liquidate positions are allowed." Please someone explain this to me!!
anyone?
Posted by sonic0boom on :
Dinger, call your broker.
Posted by Doctoall on :
Bought more today at 0.0004 Posted by going for gold on :
never heard of see this one before,dinger 51,maybe you should call your broker.might be intersting
Posted by dinger51 on :
I will call. I will let you know what I hear. Is anyone on PAl TALK?
Posted by cyclekitty on :
Thanks Mack. Great to be here and so cheaply to!
Posted by sonic0boom on :
Hi all. This stock seems to be jumping between .0003 and .0005. I see two people got filled at .0004 ... I'm waiting for my funds to post so I can get a small position here and was wanted to get some opinions if anyone thinks getting filled at .0003 is possible.
Posted by NomarKash on :
quote:Originally posted by sonic0boom: Hi all. This stock seems to be jumping between .0003 and .0005. I see two people got filled at .0004 ... I'm waiting for my funds to post so I can get a small position here and was wanted to get some opinions if anyone thinks getting filled at .0003 is possible.
.0003 is possible, but I don't think it will fill today. There is a lot of hype surrounding this stock and I don't think you will get in for less than .0004, IMO.
Posted by going for gold on :
honestly no i hope, this thing should go north noth south but probably with the shorting you might be lucky
Posted by dinger51 on :
I got in at .0004. Called the broker. Something was wrong in my account. It is fixed and my order went through. I asked about the Certs. It will cost 50.00 to send one to my house. I wm going to do this. I suggest everyone calls and requests this as well.
Posted by sonic0boom on :
Thanks ... I was thinking of playing the bounces to pick up free shares. Guess I'll keep an eye on the charts until my funds go through.
Posted by sonic0boom on :
I have $21 in my account now, so I'm doing a little test for 50,000 shares at .0003. I'll let y'all know if it goes through.
Dinger, FYI, Choicetrade sends me a paper copy of all of my buy and sell trades (usually within a week or so). I don't know if what they send is the same as getting a stock certificate ... Anyway, it doesn't cost any extra and they are only $5 a trade. Just something to keep in mind. $50 just seems like a lot for something I think you should be entitled to as proof of stock ownership.
Posted by dinger51 on :
quote:Originally posted by sonic0boom: I have $21 in my account now, so I'm doing a little test for 50,000 shares at .0003. I'll let y'all know if it goes through.
Dinger, FYI, Choicetrade sends me a paper copy of all of my buy and sell trades (usually within a week or so). I don't know if what they send is the same as getting a stock certificate ... Anyway, it doesn't cost any extra and they are only $5 a trade. Just something to keep in mind. $50 just seems like a lot for something I think you should be entitled to as proof of stock ownership.
I get a statement, but not the actual stock certificate. Per the PR, I think something may happen where we may need the stock certificate. I don't know what it could be. I will call later and check out if the statement is proof enough incase something were to happen.
Posted by tntrader on :
No way would I spend $50 on obtaining stock certificates, when that same $50 could buy you 166K shares of the stock, which at a penny is over a grand...
Posted by NomarKash on :
quote:Originally posted by tntrader: No way would I spend $50 on obtaining stock certificates, when that same $50 could buy you 166K shares of the stock, which at a penny is over a grand...
Agreed, there has to be another way.
Posted by dinger51 on :
quote:Originally posted by NomarKash:
quote:Originally posted by tntrader: No way would I spend $50 on obtaining stock certificates, when that same $50 could buy you 166K shares of the stock, which at a penny is over a grand...
Agreed, there has to be another way.
are my statements good enough!
Posted by bmaxingout on :
the thing to remember it is the cert call that will help stop the naked short IMHO 50 bucks is cheap money to get us up over the hill.if we all pull together and work with ed then the payoff could be huge.If it goes private then we might get stuck with nothing but the current pps witch is a fraction of the true value i urge everyone to listen to our ceo and call the cert. my average cost per share is .0007 i want much much more.I want what i paid for witch i beleive to be a min..05 at this point we really need to trust ed he is working his ass off for us
Posted by dinger51 on :
quote:Originally posted by bmaxingout: the thing to remember it is the cert call that will help stop the naked short IMHO 50 bucks is cheap money to get us up over the hill.if we all pull together and work with ed then the payoff could be huge.If it goes private then we might get stuck with nothing but the current pps witch is a fraction of the true value i urge everyone to listen to our ceo and call the cert. my average cost per share is .0007 i want much much more.I want what i paid for witch i beleive to be a min..05 at this point we really need to trust ed he is working his ass off for us
Did you check out Pal Talk today?
Posted by charlie7702 on :
I logged into paltalk, then made some lunch and got the boot agian while i was in the kitchen. Now it says I have to wait 24 hours before it will let me back in. Oh well, this is all a good learning experience.
Posted by 4Tune4Me on :
Charlie, don't worry about Paltalk. Your not really missing anything. Whatever happens of importance with ICAN inside or outside of Paltalk hits the boards fast enough.
Posted by ya ya on :
buying seems to have dried up - big volume in the first couple of hours of trading but not much since.
Posted by charlie7702 on :
Thanks Tune
Posted by bmaxingout on :
word has it on pal talk that "investor"and Ed might be talking on the phone right now might see something big happen like yesterday
Posted by 4Tune4Me on :
See...
Posted by going for gold on :
anywey news from paltalk,kind of boring today,must say i was expecting some firework today Posted by BlackWidow on :
Please correct me if I'm wrong. Certs are not issued, as most trading now occurs electronically, a la second.
Once certs are issued, trading becomes much more difficult. Then broker must have the cert returned to him to execute a sale. So, you could miss selling during a squeeze.
If this is incorrect, please let me know.
TIA
Posted by bmaxingout on :
this is true but as in my case im in this one long and am not looking for a chance to sell on a wiggle in the pps.Im looking for the spinoffs that will be created by ican.IMHO the spin off that will happen in the near term will so greatly out weigh the short term gains that could be reached by swinging this stock that to me it doesnt make any sense to pay much if any attention to the current pps this is the reason the i got so upset by the thought of ican going private. I know beleive the this will not happen. After seeing ed fight so hard yesterday to drive the mm's crazy trying to keep up with his and the "investors" buying and proving that we are being naked shorted.Im with Ed all the way.Im with Ed long and strong. if anyone wants to make some real money then IMHO stand up for our ceo, CALL IN YOUR CERTS and put a hurting on the mm's
keep up the great work ed
Posted by TalonSin on :
Bmax,
What are you referring to as spinoffs?
Posted by Forrestgump on :
RUMOR: WILL HAVE SOME GOOD ACTION NEXT WEEK. TODAY ACTION HAVE BEEN POSPONED TO NEXT WEEK... BIG BIG INVESTORS COMING IN TO SCARE NAKED SHORTED. ALOT OF MONEY WILL BE INVOLVE. JMHO
Posted by bmaxingout on :
ican will be taking some maybe all of their assets and putting them into a new symb a fully reporting otcb at a greatly reduced o/s these shares will given to all share holders as of the date announced ed has said that he wants this to happen at the end of the second quater.it hasnt been mentioned to exactly what the ratio of this speical div will be but it has been said to be around fifty cents per share. my best guess is 1 for every one hundred shares held.this otcb like i said will be fully reporting therefore it would make it very hard for MM's to naked short.
Talonsin im not sure if you are familar with the ican story or not but this is a "start up"company with huge potential they already have good assets excellent revs as a plus they have cash on hand and the abilty to get credit to purchase new restraunts and hotels this month they will be bidding on another hotel and restraunt.this is only about two hours from their current property another great rev producing property that is is the reason that im holding one for a very long time.
remember do your own dd and let me know what you think
Posted by Forrestgump on :
RUMOR: WILL HAVE SOME GOOD ACTION THIS WEEK STRATING MONDAY...BIG BIG INVESTORS COMING IN TO SCARE NAKED SHORTED. ALOT OF MONEY WILL BE INVOLVE. DON'T FORGET TO DO SOME DD BECAUSE INVESTING IN ICAN. COME TO PALTALK GROUP UNDER PENNY STOCK (ICAN) TO DISCUSS, SHARE YOUR POINT OF VIEW AND HELP US TO FIGHT AGAINST NAKED SHORTAGE.
Posted by TraderTom on :
This was originally posted on the QBID thread by PennyTrader.
There are SEC rules for conducting a buyback; the full link is here:
I am posting the most important rules regarding QBID:
Timing of Purchase. A bid or purchase by or for an issuer must not constitute the day’s opening transaction for the security. Issuers who have (i) an Average Daily Trading Volume (“ADTV”) value of $1 million or more, and (ii) a Public Float Value (i.e., the aggregate market value of common equity securities held by non-affiliates of the issuer) of $150 million or more, are qualified to bid or purchase up to 10 minutes prior to the close of the primary trading session in any market in which the security trades. All other issuers are prohibited from bidding or purchasing during the period 30 minutes prior to the close of the primary trading session. Bids and purchases by or for an issuer in after-hours trading are permitted provided the issuer does not enter the opening bid in such trading and the purchase price does not exceed the lower of the closing price in the principal market for the security and any lower bids or sale prices subsequently reported in other markets.
Volume of Purchases. An issuer’ purchases, when aggregated with any affiliated purchasers acquisitions, may not exceed 25% of ADTV in any trading day. An issuer’s block purchases are generally included in the 25% limit and in the calculation of ADTV. Issuers may make one block purchase per week without being subject to the 25% ADTV limitation, provided the block purchase is the only purchase by or on behalf the issuer in reliance on the safe harbor on that day. Shares purchased pursuant to this block purchase exception may not be included in calculating ADTV.
This may explain why the buyback didn't happen on Friday. Ed bought 200M shares on Thursday, which exceeded the 25% limit on the volume. He can do this only ONCE PER WEEK without breaking SEC regulations. I'm sure we'll see similar action next week again!
Tom
Posted by noah129 on :
ITS GETTING INTERESTING. IM LONG AND STRONG THINKING OF ADDING MORE ON MONDAY MORN. SORRY FOR THE CAPS LOCK BUT I JUST WANTED TO SHOUT OUT TO YOU ALL AND SAY GOOD LUCK.I HAVE 4 MILLION AND ADDING TOMMORROW MORN.IM KEEPING THIS I HOPE IT DOESNT FLOP BUT THAT CAN ALWAYS HAPPEN IN PINK LAND.
Posted by USF11 on :
QUIT TALKING IN FRIGGIN CAPS!!!!!!!!!!!!!
Keep a level head you can't expect ICAN to be a penny because some mindless paltalk pumper jumps on a board under an alias, shoots out to pumps to the moon and disappears. Nothing is gonna happen dramatic to this position unless there is a PR saying the buyback is complete and Ed relases full disclosed financials.
Posted by Galaxy on :
You are right, USF11 :-)
Posted by NomarKash on :
quote:Originally posted by USF11: QUIT TALKING IN FRIGGIN CAPS!!!!!!!!!!!!!
Keep a level head you can't expect ICAN to be a penny because some mindless paltalk pumper jumps on a board under an alias, shoots out to pumps to the moon and disappears. Nothing is gonna happen dramatic to this position unless there is a PR saying the buyback is complete and Ed relases full disclosed financials.
Are you calling Leardon a mindless pumper?
Posted by Forrestgump on :
From STEALT TRADER ON RB
Good Mornong Ladies & Gentlemen, Starting this week should be good for ALL ICAN SHAREHOLDERS.....ICAN IMO has been played with for a long time now and is due for an uptrend!
All will be gazing with astonishment just look what happened last week the MM's were taken by surprise and the Bashers didn't even know what was happening, scrambling over trying to extract info from paltalk group, well guess what bashers keep scrambling and KEEP WATCHING LII ALL WEEK!
ICAN IS GONNA START ADDING MORE $$$ AND WILL be making more $$$ in revenue! ALL ICAN SAY IS KEEP ICAN ON YOUR RADAR SCREENS AND IF YOU HAVEN'T ALREADY LOADED better HURRY UP! THESE LEVELS WILL BE GONE WITH THE WIND AND THE CHASE WILL START!
HAVE A GREAT WEEK EVERYONE!
(Voluntary Disclosure: ST Rating- Strong Buy; LT Rating- Strong Buy)
Posted by Leardron on :
quote:Originally posted by NomarKash:
quote:Originally posted by USF11: QUIT TALKING IN FRIGGIN CAPS!!!!!!!!!!!!!
Keep a level head you can't expect ICAN to be a penny because some mindless paltalk pumper jumps on a board under an alias, shoots out to pumps to the moon and disappears. Nothing is gonna happen dramatic to this position unless there is a PR saying the buyback is complete and Ed relases full disclosed financials.
Are you calling Leardon a mindless pumper?
USF11, If you were refering to me on this, I didn't pump this on Thursday and I didn't disappear. I simply reported what was going on with the volume and what was being said on Pal Talk. Everything I said was true. I said Ed would put out a PR about the buying and he did, I said Ed and the investor was doing this to help prove a naked short and Ed PR'd that. The only thing I said that doesn't look like happend was that Ed and the investor didn't do it again on Friday. I don't know why because I wasn't here. This is the first I have checked anything since early friday morning.
Now as far as your theory on the PPS, I agree. The MMs are not going to let this thing go anywhere unless there is true pressure and two of the things you mentioned will put pressure. When or If Ed goes through with the spinoff as planned, that will make it go up as well. I do not like to pump a stock with opinion, I just report the facts. As I said, the only thing I said that didn't transpire was them doing it again friday and I don't know what happend other than I saw someone posting that Ed couldn't buy more on Friday because of an SEC rule. That is out of the norm for me too because I usually try to stay away from saying something is going to happen because 9 times out of 10, it doesn't. I took a chance since they already did it once and the investor said he was going to do it some more on Friday but it apparently didn't happen. We will see what happens this week. If Ed wins the auction on Wednesday, we will probably see a little run, maybe up to .0006. If Ed and the investor decide to go on a buying spree again in addition to this, we would see higher but I am not telling anyone to buy, just what might happen.
Posted by going for gold on :
LEARDRON?JUST KEEP DOING YOUR DD;MOST OF US REALLY LIKE YOUR DD.
Posted by Leardron on :
quote:Originally posted by going for gold: LEARDRON?JUST KEEP DOING YOUR DD;MOST OF US REALLY LIKE YOUR DD.
Thanks GFG, Nothing really going on over at Pal Talk right now. Alot of people in the room. Everyone is just sitting tight right now talking about the Auction on Wednesday.
Posted by dinger51 on :
quote:Originally posted by going for gold: LEARDRON?JUST KEEP DOING YOUR DD;MOST OF US REALLY LIKE YOUR DD.
I second that!
Posted by USF11 on :
No Leardon I wasnt talking about you, I have read a majority of your posts and you have been fair. Most importantly you don't talk in full CAPS!!!!
Posted by bmaxingout on :
quote:Originally posted by dinger51:
quote:Originally posted by going for gold: LEARDRON?JUST KEEP DOING YOUR DD;MOST OF US REALLY LIKE YOUR DD.
I second that!
keep up the great posts
Posted by NomarKash on :
So then, USF11, who is coming from Pal Talk and pumping this stock?
Posted by bond006 on :
leardron don't stop your great dd and opinions we all benifit from them and they give us new area's to explore Posted by Leardron on :
thanks for the support guys. And USF, thanks for the response. Picking up another 20 Mil myself. Have 15 Mil filled so far.
Posted by ya ya on :
I was looking for this to move but,has done nothing so far.I think this could be a lot of hype.
Posted by cyclekitty on :
Hasn't moved? what screen r u lookin at? +52%. Leardon thanks for all dd that u do I for one am drivin a brand new LS with no payment Thanks to YOU! Thank You
Posted by ya ya on :
where do you get 52% - mine says unchanged @.0004 and the high was .0005.
Posted by cyclekitty on :
Sorry realized i got those backwards
Posted by Leardron on :
quote:Originally posted by cyclekitty: Hasn't moved? what screen r u lookin at? +52%. Leardon thanks for all dd that u do I for one am drivin a brand new LS with no payment Thanks to YOU! Thank You
Hehe, That's great! Thanks for the support Posted by going for gold on :
any new news today leardron ?,volume is a little higher as usual.
Posted by Leardron on :
quote:Originally posted by going for gold: any new news today leardron ?,volume is a little higher as usual.
Nothing from Pal Talk. The investor was going to buy more today but screwed up something when he tried to free up some funds. Now the funds won't be available till tomorrow. He said he is going to buy tomorrow so we will see.
Posted by NomarKash on :
I am looking forward to the auction on wednesday, we need ICAN to win it to keep up the hype. Otherwise, only a buyout or a spinoff can make this PPS rise, IMO.
Posted by noah129 on :
hi fellow ican'ers just wanted to say hi and wish you all good luck today and everyday after.i added more yesterday @.0004.im now sitting on a modest 4.6 million shares and going to watch for a while to see what happens.i sure hope that we can keep our shares for the long haul i will be most dissapointed if ican is taken private.we shall see though, if its taken private and we get a decent payout i would not be against that but if ed names the price at near current levels to buy back all outstanding shares i will be very upset.ive been with ibac now for almost six months and i have had faith in this company's plan from the beggining.i just really hope that we can all keep our shares and watch this dream unfold one day.talk to you all soon. sincerely noah
Posted by rickpic on :
I spoke with Ed Hayter and Gary Becker this AM and Ed is flying to Memphis today and will be there for the auction bid at 11:00 AM tomorrow!
ED and Gary are both excited and planning on winning the bid for the Ramada and the 5000sf former Shoney's restaurant, tomorrow!
If they win these assets it will bring new revenues to ICAN and assets with 6m+ in value!
Today could be the last day to get this this cheap!
Do your DD!
Rick
Posted by bmaxingout on :
rickpic thanks for the update i think that we are all looking forward to getting these new assets and i think that you right about time running out to pick up shares at these extremly low prices. between the new asstes and large investors comming in buying up ican i beleive that icans day is right around the corner
thanks again and please keep us updated when you can, Bmaxingout
Posted by superbroke on :
has anyone got a fill at .0004 today??? I'm trying to get 500,000 at .0004 for the past 30min and it hasn't filled.
Posted by NomarKash on :
superbroke, did you get a fill at .0004?
Posted by superbroke on :
yes finally.......that took forever
Posted by NomarKash on :
OK, i'm gonna try it out.
Posted by farmgirl on :
I am showing that some sales have gone through at .0003 Has anyone been filled at this amount?
Posted by 4Tune4Me on :
How can you tell the sales from the buys?
Posted by farmgirl on :
I am assuming if people are buying at .0004 you are an idiot to sell at .0003.
Posted by 4Tune4Me on :
Yes, but you cannot assume that mm's are allowing sales to go thru at .0004. They may only allow sales at .0003 and buys at .0004
Posted by farmgirl on :
I am finding that anything is possible. I am putting in an order at .0003. I will let you know what happens.
Posted by 4Tune4Me on :
Absolutely - you go girl!
Posted by Leardron on :
Just an FYI that there is 6 MMs at .0003 on the bid and 1 MM at .0004 on the Ask
Posted by farmgirl on :
Did not buy. There is always tomorrow.
Posted by TraderTom on :
I was trying to get in all day @ 0.0003, but didn't get a fill. I have nearly 10 million at this point, though, so I'm not too much in a rush.
Tom
Posted by bond006 on :
boy just got off pal talk and things are negative but nobody really knows what about. just mad at the pps
Posted by going for gold on :
any news from the auction yet?
Posted by stockaholic on :
I'm sure there's not going to be until later this afternoon if not after market closes
Posted by farmgirl on :
I will try to buy again today at .0003. We will see what happens.
Posted by bond006 on :
has anybody heard about the aucition yet the bounced me off of pal talk i think they think i am a spy i don't know who for. anyway who needs them
Posted by Leardron on :
quote:Originally posted by bond006: has anybody heard about the aucition yet the bounced me off of pal talk i think they think i am a spy i don't know who for. anyway who needs them
Hey Bond, saw your post. Vouched for you over at Pal Talk and said you could come in if you want. They get nutz over there some times. they said just say hi on the MIC if you are able. Still haven't heard anything on the Hotel though.
Posted by bond006 on :
thank you leardron tried my mic i was saying hi but nothing happened be back when i get it working glta
Posted by Leardron on :
quote:Originally posted by bond006: thank you leardron tried my mic i was saying hi but nothing happened be back when i get it working glta
No problem. Latest is that sterling says a PR by 2pm today on the Hotel Acquistion. We will see.
Posted by TalonSin on :
I had a buy order in since open at .0003 and it never filled. I just changed it to .0004 and it was filled almost instantly.
Posted by Galaxy on :
.0003 not get filled for me too
Posted by farmgirl on :
Mine has not bought either but I am leaving the order open for the day.
Posted by bmaxingout on :
hi all was just wondering if anyone knows weather or not we own a new hotel today or not i would like any info that might be out there
thanks, bmax
Posted by bmaxingout on :
hi all has any heard weather or not we own a new hotel or not would really like some good news today
if any has any info i would love to hear it thanks bmax
Posted by bmaxingout on :
wow first post didnt seem to go through now theres two lol
Posted by Leardron on :
Okay, kind of an inside scoop. Someone on at Pal Talk called the Hotel to ask about the auction and they said the new owners are from Arkansas. It sounds like we got it because this purchase is to fall under Gary Becker and the Arkansas Suites and Hotel Group.
check out this link to see what I am talking about.
We will see officialy but it looks good.
Posted by Doctoall on :
Good news by the days end, I would say after the maket closes for the day, or at the latest prior to market open tomorrow Posted by Leardron on :
quote:Originally posted by Doctoall: Good news by the days end, I would say after the maket closes for the day, or at the latest prior to market open tomorrow
yea, I second that. Don't think he will be putting it out here in the next 20 minutes.
Posted by bmaxingout on :
this is great news cant wait to see the numbers that this will add to icans revs we just might get some pop out of this in the morning
thanks leardon
Posted by rickpic on :
IBAC Corporation is High Bidder for the Memphis Airport Ramada Business Wire - May 25, 2005 18:24
IBAC Corporation (PINK SHEETS:ICAN) today announced that the company was the successful high bidder for the 127 room Ramada Airport Hotel in Memphis, Tennessee (Two Miles From Elvis Presley's Graceland) along with a separate parcel that includes a free standing restaurant (5000 square feet) as one package, the winning bid was $1,725,000 plus auctioneer's fees to be paid in cash, the company will take possession on June 28, 2005.
"We are very excited about the addition of this Memphis property to our portfolio, the location and proximity to the Memphis airport and Graceland is simply wonderful along with being located only two hours from our Pine Bluff location it is a very manageable situation." Said Gary Becker President The Royal Arkansas Hotel & Suites
"I am very happy with the win at this auction as we were able to obtain a property that we coveted substantially below market value, we were determined to bring this prime property into our portfolio and we did, this property will add significant additional revenues and exposure in a major market." Edward W Hayter President IBAC Corporation
Posted by noah129 on :
great news im stoked i think tommorrow is the begining of a long happy ride for us that beleive we can in ican.
Posted by bond006 on :
this starting to look good i think we are on our way if all goes ok it will be spinoff city. this should help the pps
Posted by Doctoall on :
I thought that the news would come after hours, didn't want the MM and days to get it happening without his watchful eye Posted by Galaxy on :
WOWWW...GOOO ICAN...
Posted by Leardron on :
Lets hope we see some good pps off of this.
Realistically I think we see a little movement but not tons. I think we see .0005 fairly easily and maybe some .0006s but not much past that.
The one thing that could blow that theory out of the water is if Ed and/or the investor decides to jump into the fray today (Don't hold you breath though). If that happens, who knows where this could go. It think once we bust through .0006 it will move pretty fast.
Posted by noah129 on :
well ladies and gents we now own yet another hotel and restaurant to add to our revenue generating assets.each day i get more and more excited with this company.my main hopes is that we all have the oppurtunity to keep our shares and see how this all works out.im targeting at least a penny a share in the near term future (3-6 months) but that is just a possible target it could go much higher or never hit a penny.i beleive that the real payoff will be with spinoff shares that ed may give to those faithful investors that did not try and daytrade and happen to be holding shares at the right time.im currently happy to say that i am break even @ the current level of.0004. this break even point that i have reached would not have been possible if ed had not given me the extra shares from our latest forward split.so basically to wrap this all up go ed keep up the good work and those of us if we happen to ever get a huge payout lets go check out our restaurants and wine and dine with ed for a night.
Posted by going for gold on :
well done Ed,good job ican,now deal with the f***cking mm's,and a lot of people will be very happy
Posted by Leardron on :
Nice start out of the gate, we'll see how it keeps up!
Posted by going for gold on :
leardron if you speak to ed the next time,can you tell him,what a great job he did .i wonder what do yuo think ,would he turn the restaurant into a steakhouse and become part of te sanibel group?Any thoughts
Posted by stockaholic on :
quote:Originally posted by Leardron: Lets hope we see some good pps off of this.
Realistically I think we see a little movement but not tons. I think we see .0005 fairly easily and maybe some .0006s but not much past that.
The one thing that could blow that theory out of the water is if Ed and/or the investor decides to jump into the fray today (Don't hold you breath though). If that happens, who knows where this could go. It think once we bust through .0006 it will move pretty fast.
You know, this is all a step in a very positive direction but I stil have this MM question. With almost 600 mil in volume last week and barely any movement, when are the revenues and great news like this actually going to be enough to break these f***ers?
Posted by justplayin on :
quote:Originally posted by stockaholic:
quote:Originally posted by Leardron: Lets hope we see some good pps off of this.
Realistically I think we see a little movement but not tons. I think we see .0005 fairly easily and maybe some .0006s but not much past that.
The one thing that could blow that theory out of the water is if Ed and/or the investor decides to jump into the fray today (Don't hold you breath though). If that happens, who knows where this could go. It think once we bust through .0006 it will move pretty fast.
You know, this is all a step in a very positive direction but I stil have this MM question. With almost 600 mil in volume last week and barely any movement, when are the revenues and great news like this actually going to be enough to break these f***ers?
When we actually know the OS/AS and financials of the company.
The company is moving in the right direction, but what is the shareholder equity??????
That's pinks for ya.
Posted by Leardron on :
quote:Originally posted by going for gold: leardron if you speak to ed the next time,can you tell him,what a great job he did .i wonder what do yuo think ,would he turn the restaurant into a steakhouse and become part of te sanibel group?Any thoughts
That's what a bunch of the guys in the know theorise but not sure if that will come true or not. I think he wants to expand the Arkansas Suite and Hotel chain which means he will probably keep the restaurants the same between them. But who knows, that decision probably won't be made for a while. He doesn't even come into possesion of the Hotel till June 28th.
Posted by noah129 on :
well i am long and strong still not real pleased with the pps but i still have 110% faith in ed and will continue to add small amounts up to 10 million shares currently @ 4.6 million and holding.
Posted by stockaholic on :
Long here too. Actually, I think we're going to check out Graceland in July. I may have to stay and eat at our newest asset. : )
Posted by rickpic on :
+ 127 room hotel revenues + new restaurant revenues + Monarch Entertainment revenues
Lets not even add the asset values here!
Sanibel asset value? 200 room Royal Arkansas Hotel asset value? 127 room Ramada Inn asset value? 5000 sq ft restaurant asset value?
This PPS doesn't even account for one years revenues!!!!!!
Posted by noah129 on :
thanx ric i like that run down of the numbers.i just hope you are right in the estimate of os/as! we shall see soon enough though.do u mind if i ask how large is your position i have continually publicly stated how many i have and i would love know how big you are into this.i respect your opinion greatly on stocks and the research you bring to the table.i think its fair to ask but if i am over stepping my boundaries please feel free to tell me to fu@* off and i will not be affended.
Posted by rickpic on :
A partner and I only have a small position 254m!
The A/S is what I used for that break down!
Pretty hard to question that!
Deleware Sec of State confirms 12b A/S!
I figure why use the O/S for totals at all with everyone debating it! If its undervalued when using the A/S to do the math then undervalued it is!
Posted by Leardron on :
quote:Originally posted by rickpic: A partner and I only have a small position 254m!
The A/S is what I used for that break down!
Pretty hard to question that!
Deleware Sec of State confirms 12b A/S!
I figure why use the O/S for totals at all with everyone debating it! If its undervalued when using the A/S to do the math then undervalued it is!
Definitely. There is no debate that the A/S is 12B. That much we definitley know.
Posted by TalonSin on :
I'm having a hard time understanding exectly what is happening to this stock. How can it trade 42 million shares and not move?
Posted by going for gold on :
just naked shorting bY the mm's ,ed is working on that
Posted by going for gold on :
anything on palk talk ?
Posted by Leardron on :
quote:Originally posted by going for gold: anything on palk talk ?
Nope, just everyone complaining about the pps not moving like here.
Posted by rickpic on :
2979 and 2945 Millbranch Rd Memphis are the parcils that were won at auction and these are the City of Memphis appraisels for these 2 properties. The City apprasels give no value to furnishings and or buisness income value, thats extra!
$ 2,876,100 for the hotel $ 371,400 for the restaurant Total for land and buildings alone $3,247,500
$3,247,500 - $1,725,000 = $1,522,500 in equity now add income for the Hotel and restaurant and the value of the fixture and furnishings
Property Location and Owner Information Parcel ID: 060222 D00055 Property Address: 2945 MILLBRANCH ROAD Municipal Jurisdiction: MEMPHIS Neighborhood Number: 00803A61 Land Square Footage: 43211 Acres: 0.9920 2005 Appraisal and Assessment Information Class: COMMERCIAL Land Appraisal: $ 172,100 Building Appraisal: $ 199,300 Total Appraisal: $ 371,400
____________________________________________
Property Location and Owner Information Parcel ID: 060222 D00054 Property Address: 2979 MILLBRANCH Municipal Jurisdiction: MEMPHIS Neighborhood Number: 00803A61 Land Square Footage: 67430 Acres: 1.5480 2005 Appraisal and Assessment Information Class: COMMERCIAL Land Appraisal: $ 256,900 Building Appraisal: $ 2,619,200 Total Appraisal: $ 2,876,100
Posted by TalonSin on :
This is just nuts. We buy a hotel and get over a million in equity and the price goes down 25% per share?
AAHHHHHHHHH!!!!!!!!!
Posted by rickpic on :
MM's are moving off the ask @.0004 and it could go up watch it!
Posted by going for gold on :
so another day of wait and see,i like to see things moving up,personally i hope that between now and the end of june,ed makes either a spinn of or a buy-out. anyway still have my 16m on my account,mm's if you read this,only for sale at 0.05 a share Posted by bmaxingout on :
hey mm's dont listen to going for gold mine are for sale @ .04,.....lol
glta
Posted by USF11 on :
.0006 here LOL!
Posted by Leardron on :
quote:Originally posted by USF11: .0006 here LOL!
Yea, that prediction of mine stunk. Boy I thought there would be more of a response to the news. Not sure what will get this thing going other than the things we already have discussed (ungag TA, spinoff, etc.) Either that or have so many acquisitions that it doesn't matter what the OS is because we know that the A/S is 12 Billion. Oh well, I definitley can be safe in saying today is going to very slow and we will stay in the .0003 to .0004 range.
Posted by stockaholic on :
I don't know either but ungagging the t/a is the only thing I can see helping right now...but if the os turns out to be 12 zillion, you're just going to have more negativity on it that will keep it down even longer. It's sad how a company can have so many assests and good news still be in this range. Like you said Leardon, Oh Well. I'm holding until I make money or they go private. I'm a patient man.
Posted by bmaxingout on :
well im just going to restate what i have already said many times imho i beleive that we need this to be spun off into a fully reporting otcb now ed said that we would be getting this by the end of the second quater. i would really like to know what is going on with this if anyone has any info or feedback would like to here it
Posted by farmgirl on :
I just bought 1.5Million at .0003
Posted by going for gold on :
quiet on the board ,ed release me of those mm's play,everyday i've to watch them,is one day too much
Posted by USF11 on :
Just wanted to tell you guys I sold out at .0003 today, I just see this thing trading sideways for awhile. I took at 35% hit. I will buy back in on spin off news but I think Ed Hayter is playin us for fools right now. There is no reason to keep the TA gagged unless our stock is being diluted. Just my opinions don't hate me for it.
Posted by bond006 on :
i think from eds point of view after all his hard work always increaseing assets and never having the pps move must be very dishearting i am getting fed up myself but we are close to make or break a person might as well stay in until the end. even if ed offered us .001 at this point i would double my money and go on to something else what is another 5 weeks wait at this point.
Posted by Leardron on :
quote:Originally posted by USF11: Just wanted to tell you guys I sold out at .0003 today, I just see this thing trading sideways for awhile. I took at 35% hit. I will buy back in on spin off news but I think Ed Hayter is playin us for fools right now. There is no reason to keep the TA gagged unless our stock is being diluted. Just my opinions don't hate me for it.
Hey, you got to do what is best for you. No problems here with you selling. Good luck.
Posted by farmgirl on :
Thank you for selling. I bounght in at .0003 today.
Posted by saf on :
Does anyone here have Level 2s for this? I was mainly wondering how many are trying to buy. I already own at .0003 and was thinking about adding more.
Thanks!
Posted by Galaxy on :
I am holding for long, no matter what is pps up or down. I like the ICAN Business model, it will be profitable in future if everything goes well. All i want is, Ed should make ICAN Credit history good. I believe right now 18% interest rate for mortgage for ICAN. It would be great if Ed work on that and bring down mortgage interest rate and raise the ICAN Credit history. IMO
:-)
Posted by mikensay on :
quote:Originally posted by Galaxy: I am holding for long, no matter what is pps up or down. I like the ICAN Business model, it will be profitable in future if everything goes well. All i want is, Ed should make ICAN Credit history good. I believe right now 18% interest rate for mortgage for ICAN. It would be great if Ed work on that and bring down mortgage interest rate and raise the ICAN Credit history. IMO
:-)
It is a great model, if only it could break out.
Ed won't be able to get great rates without strong financials. Eventually he'll be able to bring the rates down but not before either he shows the financials or the MM's let go of the stock. It'll come...eventually.
Posted by morehotair123 on :
hi board im pretty new to the ican story but i do own shares been reading the prs is there anywhere that i could get more info on this company it sounds like it could breakout any time now i heard from a different board that ***********.com is going to be promoting ican so we could see the price per share go up real quick
Posted by imakmony2005 on :
One good pr away and pop.
Posted by farmgirl on :
Is today the day that we see movement????
Posted by going for gold on :
i think we have to wait till end june to see some real movement,all depends what ed will do with ican
Posted by Ramius on :
quote:Originally posted by imakmony2005: One good pr away and pop.
It's gonna take more than a good PR. There's been a chain of excellent PR's in the past 2 or 3 months, and no pop.
Posted by Runamuck on :
Not sure this stock will ever move....
Posted by mikensay on :
It's not the stock as much as the spin off that Ed will create.
Posted by going for gold on :
what's with the volume,more accccumalation?
Posted by bmaxingout on :
i think that ed needs to come out with a pr reguarding the spinoff or the idea of going private with a buy out price exceeding what the pps is right now , imho that is the only way to get this one moving,... until then we are going to sit where we are right now.
Posted by TraderTom on :
I would say the buyback has restarted. Two large 50M blocks went through at 10:10 and 11:10AM, both at 0.0003.
I was wondering all of last week why we didn't see signs of the buyback. My feeling is now that Ed wants to do the buyback at 0.0003. I had a hard time last week to get a fill at 0.0003, even for 1M shares, perhaps due to the bump Ed caused on 5/19. So perhaps now the price has cooled down enough for them to get larger chunks at 0.0003. JMO.
Also, keep in mind that if Ed is too agressive in his buyback and bumps up the PPS too much, he could be accused of market manipulation. Not that the MMs don't manipulate the market all the time, but as the CEO Ed has to be especially careful and two wrongs don't make a right.
Posted by Runamuck on :
Whats with the HUGE volume!! and no movement....
Posted by Doctoall on :
quote:Originally posted by Runamuck: Whats with the HUGE volume!! and no movement....
Constipated but look out when she blows Posted by bond006 on :
at this point i would be up for the buy out or the spin off just as long as i made some bank either way. still holding long and strong and i think ed will be good to us either way.glta
Posted by Leardron on :
IBAC Corporation to Expand its Sanibel Steakhouse Brand
IBAC Corporation (ICAN.PK) today announced that it will expand its Sanibel Steakhouse brand to Arkansas and Tennessee. The company will expand its Sanibel Steakhouse brand to its Royal Arkansas Hotel & Suites location in Arkansas and its newly acquired Ramada Inn property in Memphis, Tennessee, each location will be 5000 square feet plus and will feature the same quality operations and format as the current Ft. Myers location.
The addition of these locations on company owned property will increase the Sanibel brand to two new states and heighten the brand's awareness; this will bring the companies Sanibel restaurant operations to five locations in three states upon completion of the build outs and the final two acquisitions of the Sanibel Steakhouses in Bonita Springs (to close August 15, 2005) and Naples, Florida.
"We are extremely pleased to be able to add these two locations to our Sanibel Steakhouse portfolio especially Memphis, Tennessee as this location is a free standing building located in an extremely high traffic area and just 2 miles from the world famous home of Elvis Presley (Graceland)," stated Edward W Hayter, President and CEO of IBAC Corporation. "The company will continue to acquire additional hotel properties in other states that can accommodate a Sanibel Steakhouse as we continue to grow our operations."
About IBAC Corporation: (Pink Sheets:ICAN). IBAC Corporation, through its operating subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide, IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Posted by Leardron on :
This is awesome news!
Posted by NomarKash on :
That's what we thought might happen, this is great news. I don't care the PPS isn't moving, I like what I see from Ed!
Posted by Mack on :
very good news!!!!
Posted by Leardron on :
Very nice way of expanding the Sanibel Brand name without incurring too much expense as well as getting the name out into two more states. Now he will have 5 Sanibel restaurants in 3 states and 1 of them right on the door step of Graceland. Very smart move.
Posted by Mack on :
needs a kick start!!!!
Posted by stockaholic on :
The TA needs a kickstart to pop the ball gag out of his mouth
Posted by Mack on :
lol!!!!
Posted by ya ya on :
I don't see any trades on my Scottrade account - This can't be right can it,This usually trade high.
Posted by NomarKash on :
quote:Originally posted by ya ya: I don't see any trades on my Scottrade account - This can't be right can it,This usually trade high.
The MM's took a day off.
Posted by stockaholic on :
I'm showing 2.5 on mine...still pretty low though
Posted by ya ya on :
With the news that came out - Why is this down again.
Posted by NomarKash on :
quote:Originally posted by ya ya: With the news that came out - Why is this down again.
Because people want to see news of a buyout or going private. People want to see what their shares can be worth.
I on the otherhand like to see Ed keep accumulating assets. Go ICAN!
Posted by bmaxingout on :
.0002 WTF
Posted by bmaxingout on :
everytime we get good news we loose pps maybe we need some bad news,....lol
Posted by going for gold on :
leardron,was it ed or the other investor who bought yesterday a lot of shares
Posted by bond006 on :
.0002 ouch ouch.
Posted by Leardron on :
quote:Originally posted by going for gold: leardron,was it ed or the other investor who bought yesterday a lot of shares
Must have been investors. I know that 60 Million of it was another investor over at Pal Talk. I know that Willy Wizard is pumping it (not working so far, lol) so it might have been him and his cohorts that bought yesterday.
Posted by TraderTom on :
Awesome volume today - 210M shares traded in the last hour, most of them at 0.0002. Still looks like the buyback to me.
Posted by 4Tune4Me on :
PPS will not move until Ed completes his buyback. He will not be paying top dollar because he calls the shots, folks. It ain't always the mm's but their great scapegoats when it suits.
Posted by Forrestgump on :
By: reapingprophet777 02 Jun 2005, 12:53 AM EDT Msg. 30241 of 30263 (This msg. is a reply to 30004 by mosdef99.) Jump to msg. # To all concerned...Just an observation...But, there were over 200M shares that went through in 9M share blocks late today...
Some interesting observations are: that even though there were over 200M shares that the MMs wanted us to see go across on the bid price of .0002, the MM number of 12 (60,000 combined shares offered) that were sitting on the bid price of .0002 did not change one bit.
Now, do you not think that with that kind of volume there would have been some MMs that would have backed off the bid price, especially when the PPS has not been at the .0002 price in the past months long enough to build a 200M share resistance wall? So, the first thing that comes to mind for me is that further naked shorting to create further panic in our minds that someone is dumping all those 9M share blocks... The level 2, volume, and MM activity simply does not give any indication that anyone is dumping. Only a fool would sell now at .0002 when there is over $40M in assets in the company, with daily revenues being produced...
I personally think that if some of you want to buy more shares of ICAN you might be able to get it at the bid of .0002 tomorrow, as they will just sell you some more counterfeited shares that they do not have...post it as a sell, even though it was bought at the bid price, with the intent of further trying to confuse shareholders, and create disbelief, and distrust in the company...
No one is selling at these prices, and we have to know this. I still think it would be foolish for Ed to keep telling many of us in phone conversations and the like, that he is not dumping shares, as this might be later used against him... Having said this, I do not believe that he is dumping shares...
I do believe that there is s tremendous naked short, and that there are forces working to erradicate the short position. There appears to be powerful forces at work here...the mega bucks hedge funds that have naked shorted, stifled, and strangled the PPS of ICAN that started when the initial 1B shares were added, and dumped into the OS by the Reg 504 owners...and the Cannibal hedge funds that have possibly bought up billions of shares of a naked short that some believe might go as high as 14B shares...
IMO, this is a classic battle between billion dollar hedge funds, each with the deep pockets, and track records of success behind them. This thing has to run, and run hard, and we are holding over 5B shares, collectively, and believe that there is no more than 3B OS shares, or less, as Ed has mentioned. We will soon see, I believe, a major run of this stock, well beyond the estimated $40M value, and there will be a huge pay day for those that have remained strong... If you have not seen a short squeeze, it is really fun to watch, and to be involved in...
Many of you are to be commended as you have remained strong through the BS of gagging the TA; plagerized PRs; strong throughout the questionnable background of this young company, and the CEO; strong throughout the promise to file, and the lack thereof; strong throughout the appearance of improprieties, and accompanying lies; strong throughout a relentless naked short that has to have ripped off investors, by illegally selling them shares that are not there; strong throughout a massive barrage of naked shorting MMs that have the same goal in ICAN as with the other 7,000 companies that they have naked shorted out of business in the last 6 years, which will bring all profit to them, without any risk of their having to cover their short positions.
One other point to add to the equation is that if the MMs cannot short ICAN out of business, which is their primary goal, as we do have approximately $40M dollars of unaudited value to the company, then their intent is to bring such PPS pressure to the company that the CEO has no alternative but to announce a R/S. As Ed has repeated stated that there would be no R/S, then, hopefully, we can believe him...even though the continuation of such criminal oppression of the PPS is not healthy to our company.
Yes, there is some downside to this company, and they have been hashed around since the gagging of the TA. If we are still in the boat, then we must still have faith that ICAN is a great opportunity to be involved in something grande here.
Ed, if you read this board, and I know that you do, if you want your, and our, company to be successful, then, the offshore hedge funds, that are naked shorting our company into an early financial grave MUST BE DEALT WITH, AND THE BATTLE HAS TO BE WON RIGHT NOW, WHILE THERE POSSIBLY IS ENOUGH INCOMMING MONEY, CANNIBAL HEDGE FUNDERS, AND NAKED SHORT POTENTIAL FOR CAUSING A SHORT SQUEEZE THAT WILL BE MONUMENTAL AND BENEFIT ALL.
It is time, Ed, for you to realize that you have a pioneering opportunity here, that few CEO's can ever dream about. You have the opportunity to do something good for the entire stock market, the national economy, present shareholders that have believed in you to the tunes of over 5B shares being held in strong hands...AND FOR YOURSELF, as well, as the CEO, and owner of the company.
I publicly challenge you, Ed, to release the necessary documents that will clear up all the pollution that has been hovering over our company, and set the wheels into motion that can bring financial independence to those of us that have hung in here with you, through all the griping and complaining, that is witnessed in many stock families.
Now, without question, some brilliant investors, retired stock brokers, and successful businessmen have contacted you, or at least have attempted to contact you, to brainstorm with you about some suggestions that could benefit all of us in this naked short situation. Only a fool will not listen, Ed, or take what he can use from the wisdom of others.
I say this, knowing quite well, about the shame and embarrassment, and feeling of abuse that you might have suffered with your involvement with certain individuals that have used you for personal gain, that constantly bash you on this message board, and others, that bash the company, and investors that might speak up for ICAN. We have to move on, seize the opportunity that is at hand, come clean about the OS, or any other skeletons that are hidden in the closet, and break the naked short position so that our company can achieve the lofty goals that you have envisioned for it.
It is your baby, Ed, make no bones about it. You are the dreamer, you have the vision, we are believers in you, and your company, and you need to recognize this, and team up with us to do what has to be done. Only you can remove the stranglehold that has been placed upon our company by the naked shorting. Only you, Ed, have the power to publish the OS, complete the audit, roll ICAN into a fully reporting company shell, and annihlate the criminals that are trying to cause a lot of good people to lose hard earned money - you included.
It is time for you, Ed, to stop blowing smoke out of both corners of your mouth, and work with the shareholders that you have promised was your desire to increase shareholder value in ICAN. You can do this by releasing the necessary documents, and breaking this ring of thieves that has caused so much frustration, fear, and panic in what appears to be a solid company with revenue-producing assets in it.
IT IS TIME FOR YOU, SIR, TO STEP UP TO THE PLATE, knowing that the bases are full, and there is no where to put you, and that the MMs and hedge funds have to deal with your awesome power... You have the hammer that can set the captives free, as the MMs have arrogantly continued to short themselves deeper into the quicksand.
We await your next move, Ed. Do the right thing, as a CEO, as a human being, and we will be there right behind you... Only you can quiet all of us that have criticized you, however wrong, or right we were... I HOPE THAT YOU WILL STRIKE NOW, ED, WHILE THE IRON IS SCORCHING HOT...
This is all, JMHO, of course, FWIW... Thank you for bearing with me, through such a long representation of my thoughts...
May God bless all ICAN shareholders, and our CEO. Stay encouraged, and hopeful...that good things are about to happen.
Reaping
Posted by WinsumLosesum on :
IBAC Corporation Completes Contracts to Acquire the Memphis Airport Ramada & Confirms Closing Date Business Wire - June 02, 2005 09:09
NEW YORK, Jun 02, 2005 (BUSINESS WIRE) -- IBAC Corporation (PINK SHEETS: ICAN) today announced that they have completed the definitive contracts whereby IBAC will acquire the Memphis Airport Ramada & Restaurant that they won as high bidder at a public auction held on May 25, 2005, upon the completed transaction the property will become a wholly owned subsidiary of IBAC. The closing of the acquisition is June 28, 2005.
The Memphis Airport Ramada & Restaurant are 2 separately deeded parcels. The Hotel is a 127 room Hotel located adjacent to the Memphis International Airport and 2 miles from the world famous Elvis Presley's Graceland. The property contains approximately 70,293 sf, and was constructed in 1986. It is a six story interior corridor hotel in superb condition and is situated on 1.548 acres. The restaurant is approximately 5100 sf and was also built in 1986 and is situated on .992 acres. Some additional features of the property include an outdoor pool & patio area and 182 parking spaces.
With the addition of this acquisition IBAC will have operating businesses in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
"We are very pleased with the acquisition of this choice property as it increases the company's rooms to a total of 327 and an additional restaurant located in a very popular city as we strive towards our stated goal of becoming a 100 million dollar a year fully reporting company. I am extremely pleased with the rapid growth we have experienced in such a short period of time (less than a year) and attribute our rapid growth to our employees and executives," said Edward W. Hayter, President IBAC Corporation.
IBAC Corporation is a New York based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant Industries.
Posted by homero12 on :
Sounding good, still holding on strong here..thx for the PR!
Posted by Leardron on :
YAWN, what kind of PR was that?? That looks like something QBID would put out, lol. No offense to any QBID holders.
Posted by noah129 on :
alright folks it seems like we are at the calm before the storm very good stuff is about to happen to all of us longs or a terrible thing might happen as well.i being long of course hope for the best but this long holding of icans stock has made me a weary investor.i will continue to hold regardless even though my faith has been shaken in this stock.i am not very pleased with todays pr it seems like fluff we already knew about the hotel and that we won the auction please ed i know you have the capability to repair this horrible situation for us and i will stand beside you as long as it takes whether this ship sails on or sinks i will be there holding long.i truly hope that this naked shorting is put to a stop asap as it is destroying the pps for us longs.maybe we should add to our positions right now im not sure.i have over 4 million shares and would like more but these last few months of seeing very little action has made me cautious.well i just wanted to share my thoughts i wish all those the best of luck and maybe by the end of the month things will be looking much brighter for all of us that held on tight.
Posted by 4Tune4Me on :
Thanks, Forrest, for posting Reaping's thoughts on the "State of the Union". R sums up alot of what many of us are thinking.
Posted by bmaxingout on :
Ed, we are standing by you.We still beleive that great things can happen to those who hold. please do the right thing and release the ta.roll this over.shut the doors on the MM's that are ruining this stock.I have put all of my money into the dreams that YOU have inspired. Now you must follow through.
Posted by bond006 on :
thank you forrest for that great posting reaping.i think that sums it up for most of us the only reason i am long in this is that ed has came through in the past and i am hoping he will again i am 11.5 million long and strong and i am like the rest of you i am hoping the dream comes true for us. all i can say that is if you went this far it time to gut it out to the end.gtla
Posted by Mack on :
has anyone been able to get filled @ .0002??
Posted by Leardron on :
did anyone get filled during that 25 Million sale at .0002?
Posted by nyinvest on :
I've gotten 3M so far today at .0002
Posted by saf on :
Does anyone have lvl 2 for this?
Posted by farmgirl on :
I have not gotten any and I am in for 1M
Posted by TraderTom on :
Perhaps Ed released this PR to make sure he can continue his buyback at 0.0002
I can only assume that most of these trades are for the buyback, but it could also be the mysterious "investor". However, even if only 1/2 of these trades are for the buyback, we're moving along pretty fast! And perhaps we'll see a real good PR after the buyback is completed.
Tom
Posted by Leardron on :
Equity Bridges Financial Relations: CMKM Diamonds Inc. (CMKX: OTC.PK), IBAC Corporation (ICAN: OTC.PK), Prime Rate Investors Inc. (PRRM: OTC.PK), Universal Express Inc. (USXP: OTC.BB), EagleTech Communications Inc. (EATC: OTC.PK) with 5 Senate Leaders now seeking answers about the selling of counterfeit securities in our markets, it is time that we as citizens help educate the world about this crime!
Jun 02, 2005 (M2 PRESSWIRE via COMTEX) -- Wayne Pedersen, President of Equity Bridges Financial Relations, invites everyone to visit Washington and New York and join the crowds to voice your disapproval of counterfeiting securities, formally known as naked short sales. Everyone is invited to join Hugo Cancio from Fuego Entertainment in Washington D.C. on Monday, June 6th and again at Times Square in New York City on June 7th. Fuego Entertainment will be filming a documentary called "Counterfeit Conspiracy", to educate the world about the highly treasonous act of counterfeiting and selling securities in the U.S. markets.
According to Cancio, the five senate leaders pledging their support to demand justice for this crime are senators: Bob Bennett, Richard Shelby, Richard Durbin, Susan Collins and James Talent. More senators and members of congress are requesting support and education from the American public on this matter every day.
A very large group of citizens are going to march in front of the SEC building in Washington D.C. and demand answers. Why is the counterfeiting of securities being allowed to take place every single day in our markets? Shareholders of CMKM Diamonds, Inc. (CMKX: OTC.PK) will be one of the largest groups in attendance on both days. This company's shareholders have united together to help their company obtain undisputable proof of counterfeit securities being sold to them and stored in their portfolios for them by their brokers. "On Tuesday, June 7th we will be loading our buses with citizens and taking them with us to New York City to rally in front of the NASDAQ building on Times Square" said one of the organizers, according to Fuego Entertainment.
Recently IBAC Corporation (ICAN: OTC.PK) and Prime Rate Investors Inc. (PRRM: OTC.PK) urged their shareholders to request their shares be sent to them in certificate form over the possibility of naked short selling of their common stock.
Universal Express Inc. (USXP: OTC.BB) has recently stated publicly that the SEC has ignored, denied and attempted to cover-up the 'naked short selling' scandal. Universal Express and others have been courageously exposing the issuance of trillions of counterfeit shares as a violation of criminal statutes and a destruction of public trading confidence.
On April 6th 2005 Rodney E. Young President and CEO of Eagletech Communications, Inc. (EATC: OTC.PK) writes to First Deputy General Counsel Larry Thompson of the DTCC about the largest breach of public trust in history stating: "Dear Mr. Thompson: I wish to remind you that on March 4, 2005 Eagletech Communications, Inc.'s attorneys announced the ruling of the Supreme Court of the state of New York, wherein the DTCC was compelled to produce the company's trading records Today, more than one month later, the records have not been forthcoming as ordered by the court. Instead, as First Deputy General Counsel for the DTCC, I believe you have undertaken a campaign to disseminate misinformation, lies, and half-truths when confronted with facts made public by your detractors." Recently I have spoken with Mr. Young and he still has yet to receive his trading records. Why I ask does Rodney and his shareholders get the song and dance attitude ? Does the DTCC have something to hide ?
It's not too late to join, please go to www.CounterfeitConspiracy.com and register today. It's FREE and we welcome everyone to join us.
Counterfeiting ANYTHING of monetary value is illegal in America. It is not only illegal, but it is disastrous to our economy and our strength as a world financial leader. In spite of laws that were written more than 70 years ago to protect our markets, this crime has been allowed to prosper for so long that it may have already taken trillions of US dollars out of the country. Where is this money going? Think real hard about that for just a moment
This crime may be affecting every single citizen in the US whether they know anything about the markets or not. The crime of selling counterfeit securities is stealing money from our retirement plans, raising the cost of living, destroying businesses, creating unemployment and ruining lives. Our fellow country men and women have made the ultimate sacrifice to protect our Constitution, let's make them proud!
United we stand as one nation, under God, indivisible with freedom and justice for all !
Equity Bridges Financial Relations (EBFR) has been in business since 1999 and has represented over 100 Companies. EBFR is committed to investors as much as we are committed to companies.
We firmly believe that keeping investors well informed is one of the most important functions of a publicly traded company. "We help bridge the gap between companies and investors."
The owner and staff of Equity Bridges Financial Relations are not licensed investment advisors.
We do not give out, buy, sell or hold advice to anyone. We have not been compensated in any way to publish this report. Full disclaimer/disclosure is located at: www.equitybridges.com/cmkxdisclaimer.htm
You bought 100k shares? That's $20 ;-?}
Posted by going for gold on :
leardron,what will happen if the shares in your portfolio are counterfeited shares?do you lose them all?
Posted by Leardron on :
quote:Originally posted by going for gold: leardron,what will happen if the shares in your portfolio are counterfeited shares?do you lose them all?
No. The mms will have to cover those shares if there is ever some kind of court ruling on it which means that they will either have to pay a settlement to cover all at once or just buy shares back on the open market. Don't hold your breath though. I think Ed will make his decision about going private or moving to another board way before that.
Posted by Miss Lesley on :
lolol
I have more than enough shares for myself right now so, this buy was just pin money in case the stock takes a run, dreaming about .75 days.
Posted by TraderTom on :
ok ed,001 for our shares i thought about it, i settle for that,never have seen such a thing with a share.people should make a book or a movie about this Posted by going for gold on :
must be 0.01 Posted by imakmony2005 on :
Man whats up ICAN just cant seem to get there. Holding long.
Posted by bond006 on :
imakmony you got it i am not even following it with a lot of energy any more and i should i have a lot of shares not as much as some but more than others i really should be buying more now because is most likely money in the bank either way you go spin off or buy back glta on this i am ready to go to the next stop after pay day
Posted by imakmony2005 on :
Thanks bond006, glad that im not the only one in the boat.
Posted by NomarKash on :
Anyone getting a fill at .0002 today? Post if yes.
Posted by Leardron on :
Rumor Mill: Someone over at Pal Talk talked to Ed over the last couple days and said that Ed mentioned he is thinking of ungaging the TA by the end of the month. Again, take this for what it is worth. I wouldn't bank on it but it is at least something to look for, for us long holders.
Posted by going for gold on :
thx leardron for the update
Posted by Leardron on :
Just another thought guys. It appears that all those 2s that are going through are actually buys at .00025. If they were sells, the number of mms at .0002 would have decreased, it has actually gone from 10mm at .0002 to 11mms at .0002 today. We think it is Ed buying shares at .00025 in order to buy the float up to go private but we will see. Again just a theory that fits some of the facts.
Posted by BchOus on :
I own 1,000,500. Unable to hold certificates in Roth Ira according to Scottrade. I am hoping for the best and thank all of you for your DD. Will the "truth win out" and "justice prevail"....keep on going forward Ed and Ican....
Posted by bmaxingout on :
Ed, would you please release the damn ta
Posted by Leardron on :
Wow, That was a huge buying fest by ed or MMs trading shares. 250 Million shares just zipped through and the level II didn't change a bit. Still 11x2 and 3x3
Posted by Runamuck on :
huge volume again today weird...
Posted by gfowler1 on :
quote:Originally posted by NomarKash: Anyone getting a fill at .0002 today? Post if yes.
I got 8 million filled today @ .0002. I put the order in last night and it just got filled. Much quicker than I had anticipated.
Posted by NomarKash on :
quote:Originally posted by gfowler1:
quote:Originally posted by NomarKash: Anyone getting a fill at .0002 today? Post if yes.
I got 8 million filled today @ .0002. I put the order in last night and it just got filled. Much quicker than I had anticipated.
Nice, congrats!
Posted by nyinvest on :
I doubled to 12M today filling 6M @ 0.0002. Be nice if this would pop, but it looks like I'll end up averaging myself out of this thing.
Posted by gfowler1 on :
I am relatively new to penny stocks, but is this common (price being held down by MMs for this long)? I have a pretty good size investment in ICAN and I am getting a little worried that maybe this will never go back up. Any thoughts? Thanks!
Posted by Leardron on :
quote:Originally posted by gfowler1: I am relatively new to penny stocks, but is this common (price being held down by MMs for this long)? I have a pretty good size investment in ICAN and I am getting a little worried that maybe this will never go back up. Any thoughts? Thanks!
Actually it is fairly common. Pennys will sit in a range for weeks and then all the sudden run over a day or couple days and then run back down if there isn't anything to support the run.
Posted by going for gold on :
the volume, awesome again
Posted by going for gold on :
everybody have a great weekend,see you monday,and if you got some news on the mars let us know; patience the key to succes
Posted by TraderTom on :
still holding long over hear my shares arent even for sale yet no orders in yet.soon i will put in a few million for sale @.001.good luck to you all sincerely noah.
Posted by imakmony2005 on :
I hear that.129
Posted by WinsumLosesum on :
IBAC Corporations Board Elects to Remain Intact As a Publicly Traded Entity Business Wire - June 06, 2005 09:28
NEW YORK, Jun 06, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK) today announced that the Board of Directors over the weekend has elected to remain intact as a publicly traded entity.
The company had previously announced that it would spin off some or all of its assets to a fully reporting otcbb company or would consider bringing the company private. The Board of Directors has decided that neither one of these strategies would be in the best interest of the company or its shareholders; hence the board has elected to leave the company and its assets intact and proceed immediately with the process of IBAC becoming a fully reporting company and moving up to either the otcbb or nasdaq small cap boards.
"The company will continue to grow aggressively through additional acquisitions per the stated business plan with the company taking possession of the recently acquired Memphis Airport Ramada & Restaurant on June 28, 2005 to be followed by the second Sanibel Steakhouse on August 15, 2005. The company is also negotiating several other acquisitions and expect to announce them in the very near future," said Edward W Hayter, President & CEO IBAC Corporation.
IBAC Corporation is a New York based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant Industries, visit the company website at www.ibaccorp.com
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: IBAC Corporation IBAC Corporation Investor Relations, 718-891-8188 Fax: 775-320-5437 Investorrelations@ibaccorp.com www.ibaccorp.com Posted by Doctoall on :
This could be a great move, depending on when they plan to make the move to another exchange Posted by bond006 on :
well it looks like the pressure is off on weather we will get are spin off at the end of june or ed would go private and us wondering what we would get. at the moment i like this option better.now all we will have to do is worry about the pps. if you are long in ican i think this is a better move
Posted by farmgirl on :
I was finally able to pick up another million shares on Friday at .0002.
Posted by Mack on :
lol!!!! the ask was sitting at .0003 and the minute i put in a order for .0002 it dropped to fill me....
Posted by Mack on :
i now have 407m shares
Posted by Mack on :
my bad i have over 4m shares
Posted by Mack on :
nice vol today again...
Posted by bmaxingout on :
WOW i am very excited with this news, go ICAN, go Ed,. Looks like its time to start buying again.
Posted by Mack on :
vol jumped up 100m to the 94 it already had
Posted by NomarKash on :
I'm a little nervous about a R/S. I know Ed said that there is not a split in sight. But what are other people's thoughts on this?
Posted by going for gold on :
i believe ed,no r/s anyway if he can do something about the gag,the pps will follow
Posted by justplayin on :
I really don't see a R/S. Ed has stated many times that will not happen. If he were to change his mind, it would blow any confidence in the co. and management thus ruining the value of the pps.
Unlikely IMHO!
Posted by mikensay on :
quote:Originally posted by NomarKash: I'm a little nervous about a R/S. I know Ed said that there is not a split in sight. But what are other people's thoughts on this?
It's a good question considering the change in mind the company had over the weekend of not spinning off to another company. However, Ed seems to be acting in all of our best interests (hopefully). I think with the company continuing a buy back it will add greater value than a R/S.
I also imagine that this course gives the company one focus on direction and may be a turning point into penny land....
Posted by 4Tune4Me on :
Ed may have said no R/S but I don't think that is written in stone. The move to fully reporting is crucial. The move to OTCBB is secondary and any attempt to get to a reputable exchange will involve a pps substantial enough to get there. That may only be possible with an RS but is so far in the future as to make it immaterial for this company. Fully reporting is key along with accumulation of assets/revenue.
Posted by duediligence1 on :
Make a promise of a spin off and run stock. Sell a couple billion shares. Promise a 500 million buyback. Then give a run around about going private to soften the blow of the never to be spin off. Keep the TA gagged so no one will never know of what they did and blame it all on Naked Short.
What a wonderful world of pennyland. Never trust any stock that gags the TA. R/S lol, who cares. PRRM promises no r/s while it has diluted its shares to 66 bllion. But hey, no worries another P&D will be soon. Just wait and look for Rickpic to start pumping again and you will know the run and dump is starting.
Posted by duediligence1 on :
Everyone kept saying Urban had the shareholder best interest in mind and Mario was the greatest and would never lie on MLON. But still th TA is gagged and no real revenues are told just Gross which tells you nothing. But hey keep the faith.
Posted by 4Tune4Me on :
Why does everyone get excited about big volume when it doesn't do anything to increase pps? The laws of supply and demand are not in effect for this one.
Posted by farmgirl on :
I am showing bid. .0001 ask .0003 volume 216million already.
Posted by going for gold on :
duedilligence1 ,ok you have a opinion, i have another,thing is i've 16m shares,you? if you have a problem with ican fine,but a lot of us think otherwise,you have real hotels,real staekhouses, so there are real assets.I think at the end of the month,we will all know what the future for ican will be.
Posted by bmaxingout on :
quote:Originally posted by duediligence1: Everyone kept saying Urban had the shareholder best interest in mind and Mario was the greatest and would never lie on MLON. But still th TA is gagged and no real revenues are told just Gross which tells you nothing. But hey keep the faith.
this is ICAN not mlon Ed is not Mario.and ican has real assets and real revs. this is a site for DD and shareholder comments. if you wish to bash then go over to raging bull they could use a few more bashers over there.
Posted by going for gold on :
leardron when you read this,can you ask ed about how he plans to get to the otcbb or nasdaq
Posted by 4Tune4Me on :
Let's stick to the facts, folks and nevermind the inuendo.
Posted by duediligence1 on :
I just gave real dd. The companies the one that is hiding the real facts. Give me a break. They made promises then broke them. This is the classic pump and dump move. Just because you can't see it then thats not my fault. People need to know the truth not the glossed over want to be facts. You don't know what the rev is because it has never been given. Just gross which doesn't include the heavy expenses in the type of business. And maybe Ed isn't Mario but he refuses to ungag the TA and give real facts that are important to make a good investment choice. You don't gag the TA for nothing.
Besides I like posting for debate. Its good for new investors to get all sides of the issue. Truth sometimes hurts. Its not bashing to point out the fact the they are hiding the share structure by gagging the TA and refusing to give real numbers to make an informed choice. Also when you pull what they just did over the spin off it is quiet obvious what is going on. But said my peace, see ya at the next pump. Remember to look for Ricpic. He will tell you when the next pump will be and you can get your money back.
Posted by farmgirl on :
Bid .0001 ask .0002 Volume 290million. 22 day average is only 162million. What is up with this picture?
Posted by farmgirl on :
Volume now at 502million
Posted by going for gold on :
any level 2 avaible?
Posted by Mack on :
nice vol!!!!
Posted by USF11 on :
The fact the spin-off has been called off would lead me to believe this is heading for No Bid real quick poor paltalkers are gonna get killed this week. Crazy volume and the Ask doesnt move should tell you to get out or double down!
Posted by Mack on :
nice vol!!!!
Posted by nyinvest on :
Got another 5M @ 0.002
Think this thing can trade 1B shares today ?
Posted by farmgirl on :
I already own 4.5million. Half purchased last week at .0002. I am hopefull that this is temporary.
Posted by bond006 on :
we will all see what things look loke in the near furture all i know is ican is no cmkx and anybody with a brain in there head can see that. cmkx never had any diamonds. ican on the other hand has real assets that produce renenue. a line of credit to buy more producing assets. and i management team with a good trac record. we will see ho things work out if it was easy then anybody could do it. glta Posted by 4Tune4Me on :
600 shares transacted at .0001 at 11:12....that's pretty lame manipulation.
Posted by 4Tune4Me on :
Now if you had requested your certs as Ed suggested, you wouldn't be able to move your holdings very quickly if you wanted to.
Posted by Runamuck on :
If he would ungag the TA so we could see how many stocks are out vs him just telling us....
Posted by 4Tune4Me on :
Ungagging the TA is moot with the spin-off being called off.
Posted by Runamuck on :
No its not.. I want to know how many shares are out?? So we can see if Ed is full of crap or not.
Posted by 4Tune4Me on :
Sorry, my mistake, I had a brain fart.
Posted by 4Tune4Me on :
TA could be ICAN itself. Investopaedia says that a transfer agent "is often a commercial bank, although some corporations choose to act as their own transfer agent."
Posted by NSUstud on :
ICAN is definitely going to rise. It is going to become a NASDAQ stock and leave the pink slip stock. Buy now before it makes its large jump.
Posted by scoopman on :
I am a ICAN supporter, but to make a statement like that, give us a little more info.
Posted by unreal33 on :
I fail to see how this can be bad news for us, wouldn't the spin off's just have been a bonus to us still holding? & correct me if I'm wrong but wouldn't a push to becoming a fully reporting company be in everyone's best interest? - Especially if that means a move to the OTC
- J
Posted by bond006 on :
leardron whata you take on what is going on and whats the word on pal talk last i was there it was very negative really over nothing i think they might have a reason to be so now
Posted by bmaxingout on :
I dont see how anyone could be negative on this news.Ed has been buying shares like mad we will be moving to fully reporting status.The company that we have been supporting is not going private.we could be moving to the big board soon,sounds like all good news to me.I would think that we could be seeing a big squezzzzz soon, i myself am very happy with how all is turning out
Posted by bond006 on :
why is there two post running on ican i just posted on the wrong one i guess i should look closer be back in a few minuets
Posted by mikensay on :
861M shares and no upside movement. I don't get it.
Posted by Mack on :
908m!!!!
Posted by homero12 on :
Exactly how many shares of ICAN are available? I'm sure it has already been posted, but I'm just wondering if anybody knows off the top of their head.
Posted by Runamuck on :
Suposedly 1.5 billion..
Posted by archmotel on :
well, 1 billion of those 1.5 have been traded today
Posted by Mack on :
wow 1 b!!!
Posted by bond006 on :
i can't believe the volume
Posted by archmotel on :
whoa 1.1 and its climbing
Posted by Mack on :
what the hell is going on!!!
Posted by mikensay on :
Be nice to see a majority of those shares are being bought back for retirement....
Posted by bond006 on :
after retireing shares buy backs and a buying war almost unbelieveable volume
Posted by Runamuck on :
Something isnt jiving..
Posted by archmotel on :
dilution?
Posted by bond006 on :
your are not kidding no wonder our pps never went up no matterhow much pr
Posted by homero12 on :
I say, they retire those 1 billion! Posted by bond006 on :
almost 1.2 billion last time i looked
Posted by xyz on :
Anyone notice all the 9 million trades. Seen too many pennies with that happening. Looks like the the double D's. Dilution/Dump
Posted by nyinvest on :
That's a lot'o stock trading there.
My 5M blocks @ 0.0002 aren't filling anymore.
Posted by homero12 on :
What do you guys think is going on here? seriously?
Posted by bond006 on :
Author Topic: ICAN in review! All DD! NSUstud New Member
Rate Member posted 06-06-2005 12:47 -------------------------------------------------------------------------------- ICAN is definitely going to rise. It is going to become a NASDAQ stock and leave the pink slip stock. Buy now before it makes its large jump.
it sure did go up only it was volume and share count
Posted by mikensay on :
Anyone heard from ED? He's got to have something to say with this volume.
Posted by mikensay on :
Holy Cr*p! .0003
Posted by Mack on :
lol it went to .0003
Posted by homero12 on :
LOL, well, thats good, I think...
Posted by Runamuck on :
wow it ticked up to .0003....
Posted by 4Tune4Me on :
Dilution, Dilution, Dilution...
Posted by bond006 on :
the wind blew the s*ht flew and it stayed that way for a day or two. past that i don't know what is going to happen
Posted by stockaholic on :
Ed and the investor are buying up again just like a couple weeks ago.
Posted by Mack on :
yeahhhhhhhhhhh buy all of it up!!!! lol
Posted by stockaholic on :
talking about another 500 million right now...watch it
Posted by homero12 on :
I'm still new to this, but what exactly is "dilution"
Posted by Mack on :
i thought this might be going on but i dont have palltalk so i wasnt sure!!!! thanx stock...
Posted by bmaxingout on :
quote:Originally posted by stockaholic: Ed and the investor are buying up again just like a couple weeks ago.
hi stockaholic,.. where did you get the from? there any thing on paltalk? just wondering this volume is crazy. i like it!!!!!
Posted by stockaholic on :
no prob....I'll keep you up to date.
Posted by stockaholic on :
yes, I'm on pal talk right now. Ed and the other guy are buying up...even talking about 2 bill. at EOD
Posted by 4Tune4Me on :
Dilution is "A reduction in earnings per share of common stock that occurs through the issuance of additional shares or the conversion of convertible securities." Investopaedia.com
Posted by homero12 on :
stockaholic, how many shares are there of ICAN i heard 1.5 billion, but if so, how can they buy up 2 billion?
Posted by bmaxingout on :
so far this is the largest volume day that we have ever seen
Posted by going for gold on :
rumble in the jungle, there are no words to describe this
Posted by 4Tune4Me on :
Were at 1.205 billion, folks....how long before this halts?
Posted by bmaxingout on :
quote:Originally posted by homero12: stockaholic, how many shares are there of ICAN i heard 1.5 billion, but if so, how can they buy up 2 billion?
you heard right its naked shorting(MM's selling what they dont own or have
Posted by bmaxingout on :
i have never seen anything like this
Posted by stockaholic on :
quote:Originally posted by homero12: stockaholic, how many shares are there of ICAN i heard 1.5 billion, but if so, how can they buy up 2 billion?
exactly! 1.5b suposedly but the T/A is gagged and the mm's are obviously shorting the living chit out of this. Just the 31 people in pal talk right now own almost 3 billion shares
Posted by 4Tune4Me on :
Push has come to shove and Ed's shoving bigtime. This continues and we are in for a trading halt with a subsequent review by the SEC. Ed's forcing the NSS issue to be taken seriously.
Posted by bond006 on :
31 people own 3 billion o my god you want to see naked short selling look at ican . i am holding on i will not sell into this
Posted by nyinvest on :
Still getting no fills @ .0002
Wonder where the truth in all this is. Should be interesting either way.
Posted by homero12 on :
quote:Originally posted by 4Tune4Me: Push has come to shove and Ed's shoving bigtime. This continues and we are in for a trading halt with a subsequent review by the SEC. Ed's forcing the NSS issue to be taken seriously.
Sorry for being such an idiot when it comes to this, but what exactly does that mean for us?
Posted by Runamuck on :
Dilution = bad... for share holders. Means more shares have to be bought and held in order for the pps to rise..
Posted by USF11 on :
I think all you guys and girls are missing the point on two things.
1. With the transfer agent gagged Ed has been diluting the stock to aquire assets.
2. The MM's can cover alot easier at .0001 as they can at .01.
If your staying in the stock I hope your not using your childrens education fund.
Posted by bond006 on :
staying in the stock i really don,t want to take the hit right now that i would take if i sold the stock. i am going to wait and see
Posted by bmaxingout on :
with everything that is going on there is no way i would sell right now.when she blows she will blow big. come on .01
Posted by Runamuck on :
Not holding my breath...
Posted by Ric on :
Not saying shorting doesn't happen but until they ungag the TA and have an open share structure for all to see then its more likely dilution. And with the numbers that were on the raw data chart it looks like it is dilution. When shorting is going on then its not usely the same number shares being repeatly sold. Dilution normally is. This looks real bad for the stock. The shareholders need to stand up and demand there rights to know what the structure is. At least then, you can decide whether you are buying a stock that is being manipulated by the company or the MM's.
Posted by 4Tune4Me on :
Did someone say Class-Action....
Posted by stockaholic on :
I don't see how they can not pry the books open after volume of this magnitude. Something has got to give soon one way or another. But after my own research, listening to what's going on from pal talk, and some of the facts like real assests, there's no way I'm selling anything right now.
Posted by bond006 on :
i guess we will find out a lot if and when the t/a is ungaged
Posted by 4Tune4Me on :
It's possible that ICAN and the TA are one and the same.
Posted by nyinvest on :
That's sort of what I had rolling around my head. This is a company that has real assets and the CEO or whatever he is, is out saying no dilution and massive NSS. Something we mere mortals don't know about is happening. This has turned into a bet on the situation and not the company.
Still can't get anything filled here at 0.0002.
Posted by bond006 on :
yes you are wright i have head that from many others and i am assuming all of you are correct.
the only reason i have my doubts about anything is all the changes in the direction the last 60 days it is almost like sombody is looking for an opening to dive through
Posted by 4Tune4Me on :
Does anybody know of a sort of bill of rights for investors?
Posted by Runamuck on :
Pinksheets you have no rights...
Posted by mikensay on :
quote:Originally posted by 4Tune4Me: Does anybody know of a sort of bill of rights for investors?
1)You have the right to make money
2)You have the right to lose money
3)Hope for the best, expect the worst
Posted by gfowler1 on :
quote:Originally posted by 4Tune4Me: It's possible that ICAN and the TA are one and the same.
On PinkSheets.com they list the TA as Atlas Stock Transfer Corp in Salt Lake City UT. I live in SL and have driven past their building multiple times. I will try to confirm whether they are the TA or not for ICAN. (I am assuming they can release that information, right?)
Posted by Ric on :
I see no reason to sell either. I believe they are diluting heavy but can't get much lower. Can't sell but for .0002 right now anyway. Of course if you see a stock that is running then selling to get into a runner is good. If this turns out to be a pump then it will happen again and hopefully a run to at least see our money back. Just would jump quick when it happens.
Posted by noah129 on :
well folks im lost i added a bit more today got filled @.0002 im not real happy with the current pps but i am not selling i will see how this all works out even if ed is a fu#*ing liar which i certainly hope he is not.i now am holding 6million shares and will not add any more until i know what the share structure is and what the hell is going on with the naked shorting of this stock.im glad that he is not taking the company private but i would like to see the ta ungagged immediately. does anyone have the best number to contact ed at.if so please pass it along to me i am a bit furious to see some trades going through @.0001 today.maybe he really is an honest guy and those who hold long will be rewarded huge.or maybe he is a nasty selfish pig who has used and abused those of us that put our hard earned money into his pockets.i wonder how much he pays himself as salary anyone know? i have been one of the most faithful in ican for some time now but all this nonsense about a spinoff company and fully reporting soon.lets see it ed my shares are not for sale right now.ed im challenging you to make this right for us that have been holding ican for some time now.prove you are an honest guy or suffer the consequenses of your actions.everyone always gets what they have coming to them.
Posted by Ric on :
Exactly
quote:Originally posted by mikensay:
quote:Originally posted by 4Tune4Me: Does anybody know of a sort of bill of rights for investors?
1)You have the right to make money
2)You have the right to lose money
3)Hope for the best, expect the worst
Posted by Runamuck on :
Still gagged but they are the TA that was verified...
Posted by nyinvest on :
Something is up. I am getting tiny tiny partial fills now. 50K on one 5M order and 10K on another 5M order. That's strange. I was having 5M orders fly through all morning.
Posted by bond006 on :
noah you are right in one aspect it is a long life and ed is in and out of thease shell companies a lot. if we do get bad there will be a lot less people ready to jump on the band wagon the next time he puts out the call as a matter of fact investores might would proably bash him hard
Posted by Runamuck on :
Maybe we will see a PPS increase now...
Posted by 4Tune4Me on :
Wow, I always thought hope had no place in evaluating stocks. Maybe it's all we got.
Posted by mikensay on :
quote:Originally posted by bond006: noah you are right in one aspect it is a long life and ed is in and out of thease shell companies a lot. if we do get bad there will be a lot less people ready to jump on the band wagon the next time he puts out the call as a matter of fact investores might would proably bash him hard
Bond.. what other companies has Ed been involved with???
Posted by 4Tune4Me on :
We are at 1.248 billion...
Posted by bond006 on :
well he is still in one if ican remember about a month ago i stsrted with a v if sombody remeber please post i think it was called i will look it up be back withifo
Posted by 4Tune4Me on :
Viyon Corporation
Posted by bond006 on :
thanks 4tuneme i just blew it out of my favorites thats the only one i know of besides ican i will assume he is no stranger to this. last time i looked viyon still had a web site.
Posted by mikensay on :
It seems that Karl Wenzel is also involved in Viyon...Hmm....
Posted by Runamuck on :
quote:Originally posted by mikensay: It seems that Karl Wenzel is also involved in Viyon...Hmm....
hmm?? why what do you know about him?
Posted by mikensay on :
quote:Originally posted by Runamuck:
quote:Originally posted by mikensay: It seems that Karl Wenzel is also involved in Viyon...Hmm....
hmm?? why what do you know about him?
I don't know anything about Karl. I just get nervous when I see two executives go from company to company. Don't get me wrong, this can be good. I don't like to think of the negetive, but I have to entertain both side of the coin, otherwise I'm just a sheep.
Either they are a great team and there shouldn't be a problem with them going from one company to another. Or the're up to no good.
I don't know. I haven't been able to dig anything up, so I'm going to remain positive about this company. It helps knowing there is actual real estate involved.
Posted by bond006 on :
we talked about viyon a lot a while back and came up with it was not a lot to worry about and we never talked about it again.lol
Posted by Runamuck on :
Wheres our Pal Talk people to let us know whats going on?
Posted by 4Tune4Me on :
1.256 billion...
Posted by Mack on :
1.297 billion...
Posted by Mack on :
low and behold it pops up to .0003 right at the bell!!!! lol....
Posted by 4Tune4Me on :
Typical ICAN, always pops just a little at the very last.
Posted by noah129 on :
well fellow icaners what to think of today i have no idea.it seems like a trap i am not a basher i hope the best for this stock and company but with volume this big are people really piling into this on the news or is ibac diluting? time will tell i guess.i am going to try and be optimistic as i have put more into this than i origionally planned to but i am becoming more suspicious and cuatious.tommorrow could be the day we have been waiting for maybe ed surprises us with some numbers and the stock runs up a few hundred %.that would be great huh.... i hope you all have the best of luck.i would love to talk a few years down the line with many of you about the great ican short squeeze wouldnt that be nice.
Posted by bond006 on :
before my day is over i would like to hear from somebody who is in with pal talk maybe there is some new info over their
Posted by nyinvest on :
Could today's action have any link to the fact that a documentary about NSS was being filmed today in Washington DC ?
From a PR:
...in Washington D.C. on Monday, June 6th and again at Times Square in New York City on June 7th. Fuego Entertainment will be filming a documentary called "Counterfeit Conspiracy", to educate the world about the highly treasonous act of counterfeiting and selling securities in the U.S. markets...
Could they have been putting on a demonstration for the cameras ?
Posted by 4Tune4Me on :
It's not nice to mess with Mother Investor.
Posted by stockaholic on :
ed was supposed to call one of the guys back on paltalk at the eod but I had to leave so i don't know if he did or not. But there was talk about ungagging the T/A by end of the month. I've waited it out this long...another couple of weeks isn't going to hurt me any more or less. your guess is as good as anyones as to what's really happening...dilution or nss, either way, I'm hanging on for now. why would you dump right now at these levels anyway? I'll check in paltalk tomorrow and see if there is any news. I would think there will be some sort of pr again about this but who knows??
Posted by TraderTom on :
A few days ago, someone did some quick calculations on ICAN's value based on authorized shares (not just open shares). So even with this conservative estimate, ICAN is dramatically undervalued.
Also, why would Ed dilute shares at the same time as he makes a huge buyback? That doesn't make any sense.
Posted by 4Tune4Me on :
CORPORATE MAILING ADDRESS 2167 E. 21st Street PMB 103 Brooklyn, New York 11229
Posted by TraderTom on :
Where did the shares come from and who bought them? There are really only 3 possibilities:
1 - Dilution. This begs the question who buys the shares - one huge block in the afternoon alone was over 500M, or 100k. Whoever buys that many shares truly believes in ICAN.
2 - Large and small investors dumped their shares, because they don't want to wait for the announced move to another exchange (who knows how long it'll take). This probably would require that the OS count is higher than we assumed. Ed, the "investor", and all of us are buyers.
3 - Naked shorting. Ed, the "investor", and all of us are potential buyers. This implies that the announcement created enormous buying pressure, which the MMs kept down by naked shorting. Given how huge the volume was, I'm not sure if the MMs would have been able to hold it down this well, though.
Posted by imakmony2005 on :
im in and time will tell.
Posted by noah129 on :
4tune4me thank you for the contact info i called and talked to a secretary who was very kind.i asked if i could speak with mr.hayter she said he was busy at the moment but that he would definitely call me back.i was excited but also skeptical that he may not call at all.im sure that they have recieved tons of phone calls today and this was confirmed by the secretarty.i also asked being that i am in ny and their headquarters are in brooklyn ny if it would be ok if i dropped by some time to see the office and talk to ed in person.she didnt seem to mind and said that occasionally investors did come by to see how things were going.she was unable to answer some basic questions like when will the ta be ungagged , or when is the new hotel going to be operational , or when will we become a fully reporting company.i didnt expect her to know any of these ?'s but thought why not ask and just see her response.to all of the above questions she said that ed would be much better to answer these questions.i will keep you all posted if i can get ahold of him.good luck to all of you im still here long strong and not selling into this panic situation.i like the business plan, i like the stock ,i think our future is going to be alright if ed plays honest and i basically still think ican i think ican.i know i sound like a pumper and i dont care earlier today i had my confidence in this stock shaken a bit and im still a bit weary but i have to beleive that this will work out as this is a rare company that trades on the pinks that has real assets and revenues.one day we should be in the penny land i think.
Posted by tntrader on :
I just don't know
Posted by 4Tune4Me on :
It's a page turner, ain't it. Jokes aside. The amazing thing about it is we are still ending the day at .0003. This has been a test of the system. Push it to its limits and see what happens. Is it what was expected? It depends on who's formulating the hypothesis.
Posted by Leardron on :
Where did all the volume come from? Well just to let you know what happend was that well over 90% of today's volume was buying. 500 Million of it was the investor that has been buying along with ED. Also Ed confirmed that he was buying more today, how much was his, we don't know yet. Hopefully he will PR the activity tomorrow. Also, the big one is that Ed has told a second source that he plans on Ungaging the TA by the end of the month. He wants to get the new property audited and on the books first before he does that.
The big question is if over 90% of today's volume was buying then who sold. You could say a bunch of investors got scared and sold but that can't be the bulk of the volume. Who would sell at these levels to take a loss. Remember, this stock as NEVER been at .0002 so anyone who sells here is taking a loss. The logical answer is naked short selling. That is the only thing that makes sense but we will see.
One of the things that is possible that is being discussed at Pal Talk is the fact that ED might be buying up a huge load here in order to retire it before the ungags the TA because by one report (not sure if true) Ed supposidly told someone don't be surprised if the O/S is 5 Billion. I guess all will be answered in a few weeks as long as he ungags the TA. Good luck to everyone.
Posted by TraderTom on :
Thanks for your insight, Leardron. I don'd have L2 on the pinkies - was the ask 0.0002 most of the day?
Don't get me wrong, I'm in ICAN with about 12M shares at this point, which is a lot more than I planned initially. And at these prices, I actually continue to add.
The reason is that ICAN is extremely undervalued. For instance, at 5 Billion shares and a PPS of 0.0002, it's valued at only $1 Million. Just the value of their hotels & restaurants is many times more.
Perhaps the MMs have not been able yet to unwind their naked short positions since 5/19, because of Ed's agressive buyback. In that situation, the last thing the MMs want to happen is for the PPS to jump, so they are nearly forced to continue shorting. And I have to remind myself that 1 Billion shares traded seems like a lot, but it's only $200K or so, which is a pretty small amount for a trading firm. So the MMs could hold it down easily, even at over 1 Billion shares traded.
Posted by unreal33 on :
ok dumb question, but who is naked shorting the stock the mm's?
Holding Strong, holding Long
Posted by Runamuck on :
Thanks for the update leardon.. WOW 5 billion float.. That would explain why it hasn't moved. That sucks..
Posted by bmaxingout on :
quote:Originally posted by unreal33: ok dumb question, but who is naked shorting the stock the mm's?
Holding Strong, holding Long
the answer is yes the mm's are selling shares that they dont own.therefore the pps is pushed down to the level that they sre at now.but at some point they are going to have to cover.that is when the big squeze happens.
Posted by bmaxingout on :
quote:Originally posted by unreal33: ok dumb question, but who is naked shorting the stock the mm's?
Holding Strong, holding Long
the answer is yes the mm's are selling shares that they dont own.therefore the pps is pushed down to the level that they sre at now.but at some point they are going to have to cover.that is when the big squeze happens.
Posted by bmaxingout on :
now lets say that the os is 5 billion at the current pps that puts us somewhere around six months revs. and that doesnt include the assets that ican has.Still WAY undervalued
Posted by bond006 on :
just got back on line again thank you leardron for your info its good to have you on our side. great post i wish i had some thing to add but you guys i think got it. questions and answers. i will see you in the morning
Posted by noah129 on :
what will today have in store for all of us longs .it should be interesting my guess is either a big jump in price or a bit of consolidation between .0002-.0004 for a while then another run up to .0009.we shall see though.none of my shares are for sale until we break out of these levels.good luck to you all.i think it is possible to create a monster short squeeze if many of us hold on tight and refuse to sell at these levels.
Posted by WinsumLosesum on :
Can anyone confirm that if you put a GTC sell order in for, say, 0.99, that locks up your shares, so they can't be "borrowed"?
If so, this should serve as a reminder.
Posted by NomarKash on :
quote:Originally posted by WinsumLosesum: Can anyone confirm that if you put a GTC sell order in for, say, 0.99, that locks up your shares, so they can't be "borrowed"?
If so, this should serve as a reminder.
That's an interesting thought, I would like to know the answer. Anyone?
Posted by Leardron on :
quote:Originally posted by WinsumLosesum: Can anyone confirm that if you put a GTC sell order in for, say, 0.99, that locks up your shares, so they can't be "borrowed"?
If so, this should serve as a reminder.
To tell you the truth I am not sure anyone knows I have heard several scenerios. One is that they cannot use your shares to short the stock unless you put an order in because until you put an order in they have no idea how many shares you have to short against.
The other theory is that if you put a sell order out there that they cannot use those shares to borrow against because they have no idea when that order might be processed. In this theory though it only works if you put a realistic sell order in. If you put one in for say 50 cents, they know that the order isn't going to get filled in the near future so they just ignore it. You would almost have to put an order in for say .0004 or .0005 and keep a close eye on it. If they ask gets close to or on those values you simply cancel the order and put a new one in for one tick higher. Personally I like this idea because if everyone did this, they would see the huge orders out there and would try to move the price toward it. Remember the MMs purpose is to generate volume.
Posted by NomarKash on :
If we all put sell orders in at .0004 or .0005 just to fool the MMs we would have to watch VERY close because if enough people did this the MMs would not be able to hold the price down without the ability to naked short. Its risky but it may work.
Posted by bmaxingout on :
imho the only way to move this is to eliminate the float if there is still several billion shares out there for trading then that will kill the supply and demand that drives the pps so what im hoping for is large buying like yesterday a few day like that and the float will be dry and away we go,... again jmho
Posted by bond006 on :
bmaxingout i think you have a point until yesturday and i saw all that volume i did not think this float was anywhere the size it most likely is. i think we need at least 2 more day like yesurday to make a good dent in it. but time will tell. glta go ican!
Posted by NomarKash on :
Low volume, nice and quiet today...
Posted by nyinvest on :
5 of 10M @ .0002 so far today. Not filling very quickly and only in pieces.
Posted by Leardron on :
getting more mms on the bid at 2. There are now 2 mms on the bid at .0002.
Posted by nyinvest on :
Haven't gotten a single share since about 9:30. Maybe they ran out? I only need 5M more....
Posted by farmgirl on :
I hope they finally ran out. That would mean price movement.
Posted by 4Tune4Me on :
It moved to a weak .0003
Posted by Miss Lesley on :
Good Morning all. Why is it that as soon as this stock picks up some volume, the price drops?
I have high hopes for ICAN over the next few days. Hopeful we will continue to see a trend where the buying continues to outpace the selling, leaving us with a significantly reduced float. Maybe we will see a breakout or something to that effect. I know that I have not been in the stock game as long as others, but ICAN stock that no matter what theory you subscribe to, (whether the stock is being diluted, NSS or whatever else is out there.) this stock does not seem to follow any standard mode of behavior except the one it has created for itself. With all the heart stopping action. We never know what is going to happen next.
Just throw this ditty out there, with the way how ICAN behaves, I can see the following happening. Ed, investor and others continue to buy ICAN at record volumes over the next few days. Reducing the float significantly. Then as rumor has it, at the end of June Ed ungags the T/A. And regardless if he was lying or not all along, at that point when it is ungaged the share structure is great. I can see after the great revelations and stuff the pps either drops or still refuses to move.
Question: I thought if you wrote a letter to your broker and told them you don't want you stocks borrowed or used for shorten, then they can't use it. And if they do they can be subjected to both criminal (because at that point it is no longer borrowing it is stealing) and civil liability (because they are in breach of contracts and such laws). Am I wrong?
Posted by 4Tune4Me on :
Seems to me you already know the answer to that question, Miss Lesley. Didn't you study contract law in school?
Posted by Miss Lesley on :
Yes, I did. I am sure about the legal remedies. However, what I am not sure about is Securities regulations and whether writing a broker about not using your stock in such a manor is enough or if more has to be done.
Posted by bmaxingout on :
miss lesley,im not surebut i beleive that the only way that the brokers cant borrow your shares is if you have them in cert form otherwise they need to return the "borrowed" shares in three working days,not sure but ithink that is the way it works
Posted by Leardron on :
quote:Originally posted by Miss Lesley: Good Morning all. Why is it that as soon as this stock picks up some volume, the price drops?
I have high hopes for ICAN over the next few days. Hopeful we will continue to see a trend where the buying continues to outpace the selling, leaving us with a significantly reduced float. Maybe we will see a breakout or something to that effect. I know that I have not been in the stock game as long as others, but ICAN stock that no matter what theory you subscribe to, (whether the stock is being diluted, NSS or whatever else is out there.) this stock does not seem to follow any standard mode of behavior except the one it has created for itself. With all the heart stopping action. We never know what is going to happen next.
Just throw this ditty out there, with the way how ICAN behaves, I can see the following happening. Ed, investor and others continue to buy ICAN at record volumes over the next few days. Reducing the float significantly. Then as rumor has it, at the end of June Ed ungags the T/A. And regardless if he was lying or not all along, at that point when it is ungaged the share structure is great. I can see after the great revelations and stuff the pps either drops or still refuses to move.
Question: I thought if you wrote a letter to your broker and told them you don't want you stocks borrowed or used for shorten, then they can't use it. And if they do they can be subjected to both criminal (because at that point it is no longer borrowing it is stealing) and civil liability (because they are in breach of contracts and such laws). Am I wrong?
Your exactly right, it isn't legal but they do it anyway because they depend on two thing. One is that the CEOs in these pink sheets are mostly crooks and are dumping at the same time they are shorting it. They then do a reverse split and start all over again. They also depend on the fact that legitimate CEOs at this level do not have the resources to fight them in court to prove they are naked shorting it.
Posted by 4Tune4Me on :
The mm's can short continuously because the settlement rules allow them to. The CEO's can increase the float at will and are not required to commit to a number until they are governed by a reputable exchange. When it comes to money everybody has their hand in your pocket. The SEC is slowly coming to terms with the storm that NSS is causing because they don't have the resources to resolve it and they also have too many brokerage houses on the board. Bush wants to privatize social security and CEO's/MM's will be to take their money, literally. The increased access and speed of electronic trading has left the SEC unable to come to terms with the illegalities it has enabled.
Posted by Leardron on :
quote:Originally posted by 4Tune4Me: The mm's can short continuously because the settlement rules allow them to. The CEO's can increase the float at will and are not required to commit to a number until they are governed by a reputable exchange. When it comes to money everybody has their hand in your pocket. The SEC is slowly coming to terms with the storm that NSS is causing because they don't have the resources to resolve it and they also have too many brokerage houses on the board. Bush wants to privatize social security and CEO's/MM's will be to take their money, literally. The increased access and speed of electronic trading has left the SEC unable to come to terms with the illegalities it has enabled.
Great explaination. Just an FYI that all the trading today has been buys so far. When the 2's went through, the ask was at 2. Also they only MM that kept dropping to 2 on the Ask was HDSN. HDSN is the MM that Ed is using to do his buyback so this totally makes sense. I still think Ed is buying like a mad man at these prices and this is going to ungag the TA at the end of the month and retire all those shares he bought back to bring the structure back into line.
Posted by farmgirl on :
I put in a .0003 sell for 500K since I have about 5 mil. It sold.
Posted by Leardron on :
quote:Originally posted by farmgirl: I put in a .0003 sell for 500K since I have about 5 mil. It sold.
How long did that take?
Posted by farmgirl on :
about 10 minutes.
Posted by farmgirl on :
I only paid .0002 for the stock so I did make a 30.00 gain by selling. It was only and experiment. I am holding on to the rest and will put in another buy at .0002. We will see what happens.
Posted by Leardron on :
quote:Originally posted by farmgirl: I only paid .0002 for the stock so I did make a 30.00 gain by selling. It was only and experiment. I am holding on to the rest and will put in another buy at .0002. We will see what happens.
That's nutz. Man they must be desparate for shares. We noticed the as soon as you sold, Hdsn dropped to 2 to stop more.
Posted by WorkingforMoney on :
I've had a sell in for 3 days at .0003 that hasn't sold.
Posted by farmgirl on :
I was lucky. With the volume lately I would not be suprised if someone is just short and needs whatever they can get. I had the sell in for 1 million shares and stepped away from the computer and 500K had sold. I did not think it would happen but I pulled the sell for the other 500K if they are that willing to buy at .0003 they will soon buy at more.
Posted by NomarKash on :
How big of a lot was yours farmgirl? What about yours working4money?
Posted by farmgirl on :
I sold 500K of 1 million order.
Posted by WorkingforMoney on :
My sell is for 3,333,334 shares but it can be sold in parts. I do not have it in as all or nothing.
Posted by nyinvest on :
I've got a sell 5M @ .0003 that's sitting since open that isn't touched.
I still have a buy 5M @ .0002 since open that's not touched.
I did manage to get 10M @ .0002 this morning, but it was slow to fill. Lots of little pieces and parts.
Posted by gfowler1 on :
I have also had a sell 5M @ .0003 since Monday's open and nothing has happened.
Posted by imakmony2005 on :
FLY ICAN FLY.
Posted by 4Tune4Me on :
Momma needs a new pair of Manolo's, yeah!
Posted by Runamuck on :
do something tick up 2 points and it would make me happy...
Posted by Leardron on :
Not sure if anyone posted this link but I went ahead and gave my share count. This site is being used to get share counts to help stop the naked shorting of ICAN, PRRM,and USCI.
just entered my 8,625,000 shares thanks for the link leardron
Posted by Leardron on :
quote:Originally posted by bmaxingout: just entered my 8,625,000 shares thanks for the link leardron
cool, thanks.
Posted by bond006 on :
posted by leardron
posted 08-06-2005 08:21 -------------------------------------------------------------------------------- Not sure if anyone posted this link but I went ahead and gave my share count. This site is being used to get share counts to help stop the naked shorting of ICAN, PRRM,and USCI.
entered my 11,500,000.
Posted by scoopman on :
Just entered my 3,300,000
Tom
Posted by bond006 on :
well good morning all just osted my shares the site leardron posted whats anybody take on today do you think we might have a squeez or do we have a long ride yet.
Posted by nyinvest on :
Just put my 47M in.
Posted by Leardron on :
Thanks everyone. Hopefully it will help.
Posted by WinsumLosesum on :
IBAC Corporation Holds Preliminary Discussions for Two Additional Restaurants in Florida Business Wire - June 08, 2005 09:40
NEW YORK, Jun 08, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK) today announced that it has had preliminary discussions for two additional restaurants as part of a major 50M redevelopment project in Tarpon Springs, Florida.
Tarpon Springs one of Florida's top tourism destinations will soon undergo a major redevelopment that will include a hotel, catering facilities, shops & more, The developer of said redevelopment and IBAC have had discussions regarding the inclusion of two restaurants of approximately 6000 sq ft each to be included in the plans, one of which would be taking over a very well known existing restaurant and one would be a Sanibel Steakhouse, IBAC would also manage all of the hotels food, beverage & catering operations.
"We are extremely pleased to have had these discussions with the developer as this location has been a very high priority in our growth plan going forward, we have had our eye on this location for quite awhile now and fully expect to bring this to fruition." Said Edward W Hayter President
About IBAC Corporation: (Pink Sheets:ICAN). IBAC Corporation, through its operating subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide, IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: IBAC Corporation IBAC Corporation Investor Relations, 718-891-8188 Fax: 775-320-5437 Investorrelations@ibaccorp.com www.ibaccorp.com Posted by Leardron on :
Wow, that's cool news, let's see what effect it has on the pps
Posted by 4Tune4Me on :
Keep up the pressure, Ed. It'll move...
Posted by Galaxy on :
Long holding here. I dont care about current PPS. Ed is going right direction and it will make lots of money :-) IMO
Posted by stockaholic on :
I agree. This is just another chunk of great news. The stock will be straightened out sooner or later. Hopefully, we will have more good news in the form of an ungagged TA soon.
Posted by farmgirl on :
I am sorry having brain fade today. What is TA??
Posted by Runamuck on :
Transfer Agent.. Basically they can tell us how many outstanding shares there are... We really need to know bad!!!! Tired of listening to what the CEO tells us.
Posted by bmaxingout on :
transfer agent
Posted by bmaxingout on :
great job Ed keep up the good work
Posted by farmgirl on :
Thank you.
Posted by 4Tune4Me on :
Fom bigcharts.marketwatch.com:
Detailed Quote for Wednesday, June 08, 2005 9:31 AM Company Name: Ibac Corp Dow Jones Industry: Not Available Exchange: OTHER OTC Shares Outstanding: 17,400,000 Market Cap: 5,220 Short Interest: Exchange provides no short interest data. 52-Week EPS: n/a 52-Week High: 0.165093 on Friday, September 17, 2004 52-Week Low: 0.000087 on Monday, January 31, 2005 P/E Ratio: n/a Yield: n/a Average Price: 0.0004 (50-day) 0.0044 (200-day) Average Volume: 177,729,300 (50-day) 161,524,800 (200-day)
Posted by bmaxingout on :
wow almost no volume today could be the calm before the storm
was wondering if anyone has any L2 quotes they would care to share
Posted by bmaxingout on :
quote:Originally posted by 4Tune4Me: Fom bigcharts.marketwatch.com:
Detailed Quote for Wednesday, June 08, 2005 9:31 AM Company Name: Ibac Corp Dow Jones Industry: Not Available Exchange: OTHER OTC Shares Outstanding: 17,400,000 Market Cap: 5,220 Short Interest: Exchange provides no short interest data. 52-Week EPS: n/a 52-Week High: 0.165093 on Friday, September 17, 2004 52-Week Low: 0.000087 on Monday, January 31, 2005 P/E Ratio: n/a Yield: n/a Average Price: 0.0004 (50-day) 0.0044 (200-day) Average Volume: 177,729,300 (50-day) 161,524,800 (200-day)
now that interesting wonder where they got the os from
Posted by farmgirl on :
Average Volume (22 day) 224,516,605 Volatility Average (6 Month) 5.025 Average Volume (100 day) 236,975,174
This is from scottstrade. They are only showing 40million traded today. They are also showing bid at .0001 and ask .0002 It seems to be the new trend. Good news down comes the bid and ask.
Posted by 4Tune4Me on :
Yeah, I was wondering the same.
Posted by Leardron on :
quote:Originally posted by farmgirl: Average Volume (22 day) 224,516,605 Volatility Average (6 Month) 5.025 Average Volume (100 day) 236,975,174
This is from scottstrade. They are only showing 40million traded today. They are also showing bid at .0001 and ask .0002 It seems to be the new trend. Good news down comes the bid and ask.
Yea, that is still HDSN jumping between 2 and 3 on the ask. Everytime the ask drops to 2 it is always HDSN.
Posted by 4Tune4Me on :
Leardon, did you say in an earlier post that HDSN was Ed's mm?
Posted by Leardron on :
quote:Originally posted by 4Tune4Me: Leardon, did you say in an earlier post that HDSN was Ed's mm?
Yes, that is correct. That is the MM that Ed is doing the buy back through and he has told some others that he will buy back 50 to 100 Million shares a day.
Posted by 4Tune4Me on :
Were up to 141 million...
Posted by farmgirl on :
186+ million
Posted by farmgirl on :
220+ million
Posted by 4Tune4Me on :
340M
Posted by farmgirl on :
342M. Bid .0001 ask .0002 Where are these shares coming from. Only someone who has lost there mind would sell this low.
Posted by 4Tune4Me on :
I think Ed's buying thru the investor.
Posted by farmgirl on :
Who do you think is selling? Is he the one ending up with short shares?
Posted by 4Tune4Me on :
I think he's proving his point that NSS is rampant with ICAN shares and that it's holding the price down. The MM's are selling.
Posted by mikensay on :
quote:Originally posted by farmgirl: 342M. Bid .0001 ask .0002 Where are these shares coming from. Only someone who has lost there mind would sell this low.
Didn't you sell some yesterday? Just playin.
Posted by bmaxingout on :
at .0001-.0002 ed should be buying the entire float.call for a div for around .01 per share and send those mofos running to cover
Posted by farmgirl on :
I know you are joking but I only sold 500K for profit. Are there many people as lucky as I am to hold most shares at .0002 or are they tired of the game?
Posted by bmaxingout on :
"tired of the game" not me i think that its ninth inning two outs and Ed is swing for the fences lets go eddie lets go clap clap clapclapclap lets go eddie ,.......lol
Posted by 4Tune4Me on :
Hecanhitit, Hecanhitit!!! 363.8M
Posted by farmgirl on :
I am sure you are right. I also know that alot of people have very little patience. I am just going to kick back and enjoy the eventual ride up.
Posted by nyinvest on :
I'm long 50M @ .00023
Posted by 4Tune4Me on :
Let's see how long this .0003 holds down the volume.
Posted by farmgirl on :
Why would someone buy or sell 111 shares at .0003? That is only .03. Is this a sign?
Posted by B on :
Just entered my 3,271,000.
Thanks for link Leardron
-------------------------- Boards don't hit back
Posted by 4Tune4Me on :
I would think its a signal between MM's. Although I don't know what all the codes are.
Posted by bmaxingout on :
quote:Originally posted by farmgirl: Why would someone buy or sell 111 shares at .0003? That is only .03. Is this a sign?
it is more than likely a part fill from a larger order
Posted by 4Tune4Me on :
NY, are you bragging, again Posted by farmgirl on :
100 is need shares.
Posted by 4Tune4Me on :
Oh, good....are they finally deciding to run out?
Posted by nyinvest on :
4tune4me, someone asked if people were holding at 0.0002 and I answered. Won't bother doing that again.
Posted by stockaholic on :
lol!!! like they haven't sold a billion phantom shares already...why give that signal now?
Posted by 4Tune4Me on :
NY, just teasing....
Posted by farmgirl on :
Ignore him. Answer away.
Posted by 4Tune4Me on :
Yes, ignore him, please do answer away.
Posted by NomarKash on :
I'm lost, who are you guys telling to answer away?
Posted by farmgirl on :
I screwed up. I thought that I canceled my sell yesterday. Well the other 500K sold this morning at .0003 I just bought them all back at .0002
Posted by bmaxingout on :
heading towards a half billion shares so far and still no pop
Posted by Runamuck on :
dilution!!!
Posted by guswest on :
Just added my 2,105,000 at share counters.
Posted by bmaxingout on :
nss
Posted by farmgirl on :
470million traded. That is crazy.
Posted by 4Tune4Me on :
NSS or dilution...Flip a coin.
Posted by NSUstud on :
Do you guys think there is a chance of the price jumping anytime soon?
Posted by bond006 on :
well friends i am flustered and amazed at the same time if its dilution i have not seen the likes of it if nss it has to be close to a record i am in for 11,5550 @.0005 and things look like i would be lucky to get out with some skin. so i will wait for something good to happen. glta
Posted by bond006 on :
excuse me 11,500,000.
Posted by Runamuck on :
quote:Originally posted by 4Tune4Me: NSS or dilution...Flip a coin.
or both!!!
Posted by noah129 on :
whats going on i entered my 6 million shares i hope that helps maybe ican is going to make us rich or maybe ed is going to make us all fools for beleiving in this company.im hoping for the first possibility but as always time will tell.im holding on for the long hual.i would like to beleive that one day ed will retire a huge amount of shares continue to scoop up undervalued properties and ican stock goes over a penny a share and holds.wouldnt that be swwwweeeetttt!!!!!!!!
Posted by NomarKash on :
From nssprrm.tripod.com:
Groups Share Count
Count updated as of 6/9/05
Total shares held in E form 1,366,410,494
Total share holders 118
That's an average of 11MM per person, not bad!
Posted by 4Tune4Me on :
Nomar, this is ICAN, not PRRM.
Posted by NomarKash on :
I know, but those are the updated shares for ICAN. The site I guess was originally for PRRM.
Posted by bmaxingout on :
yesterday when i entered my shares the counter never changed i dont think that the counter is accurate did anyone else notice the same
Posted by Leardron on :
quote:Originally posted by bmaxingout: yesterday when i entered my shares the counter never changed i dont think that the counter is accurate did anyone else notice the same
I think they only update it once per day. So basically anything put in today won't show up till tomorrow.
Posted by nyinvest on :
Looks like another 0.0002 high volume day with a pop up to 0.0003 again.
Not getting any fills @ 0.0002.
Somebody kick this pig.....
Posted by Runamuck on :
lol
Posted by Runamuck on :
woot .0003
Posted by bmaxingout on :
1.3million 1.3billion shares traded whats the difference same pps WTF
Posted by nyinvest on :
I've been working what few numbers I can find and making some calls to people I know who are into hospitality companies. Unless there are some big, ugly skeletons in ICAN's closet, nobody can figure out what's wrong with the PPS on this. Anybody got anything ? NSS and dilution don't make sense anymore, not at the volume we have seen. Consensus I have so far is the MMs playing games in response to ICAN's NSS accusations.
Posted by Leardron on :
quote:Originally posted by nyinvest: I've been working what few numbers I can find and making some calls to people I know who are into hospitality companies. Unless there are some big, ugly skeletons in ICAN's closet, nobody can figure out what's wrong with the PPS on this. Anybody got anything ? NSS and dilution don't make sense anymore, not at the volume we have seen. Consensus I have so far is the MMs playing games in response to ICAN's NSS accusations.
There is a theory that the 501s sold their shares and that is what brought the pps down. Also Hdsn seems to be the main culprit in helping to bring this down which is the mm that Ed is using to do his buy back. From what I understand, Ed cannot buy at the ask price because it would be considered price manipulation. On top of all of this throw in the fact that the MMs are naked shorting it just like they do any pink sheet and you have the current pps. I really think the ship will be righted once he ungags the TA. The mms have no respect for this stock right now because no one really knows what the o/s is only the a/s. Once he ungags the TA and everyone knows, this will go up.
Posted by mikensay on :
I'm guessing then, the only reason he's waiting is to fullfill his buys and the buy back, right?
Otherwise why would he wait?
Posted by bmaxingout on :
it sure would be nice to see just how much ed has bought back so far.I would love to see him buy the entire float
Posted by Leardron on :
quote:Originally posted by mikensay: I'm guessing then, the only reason he's waiting is to fullfill his buys and the buy back, right?
Otherwise why would he wait?
Yes, that is correct. The reason most of us feel why he is doing what he is doing is because all along he has said that the O/S was 1.3 Billion (before the dividend) and now 1.5 Billion. Now lets say it was actually 5 Billion shares (like it is rumored to be). He doesn't want to ungag the TA and shock everyone and it also makes him out to be a liar. So, he buys back all these shares and retires them before he ungags the TA so when he does ungag the TA the O/S is more in line with what he has been claiming the O/S is.
Posted by mikensay on :
A true salesman, sell the story first then figure it all out.
Posted by nyinvest on :
This could be really interesting in the not so distant future.
Posted by bmaxingout on :
leardon i agree 100% now if he had told us that he needed to sell shares to gain capital i dont beleive that there would be a problem with at least with most longs that are holding ican but not telling us well thats another story all together. Ed needs to remember that we are on his team.
Posted by nyinvest on :
If this turns out to be only 1.5B O/S, I think this could jump pretty good and if all the company claims is for real, this would be a nifty little company to hold on to.
I do have a question that maybe someone could answer. If they move up to reporting, are there requirements as to listing shareholders over a certian percentage and if so, what's that percentage?
Posted by Leardron on :
quote:Originally posted by bmaxingout: leardon i agree 100% now if he had told us that he needed to sell shares to gain capital i dont beleive that there would be a problem with at least with most longs that are holding ican but not telling us well thats another story all together. Ed needs to remember that we are on his team.
Yepper, I agree with you there 100% from a moral standpoint but not necessarily from a business standpoint. I know this stinks but think about it. If he would have done what you said and let everyone know he was selling shares, first off the share price would instantly drop right away from the daytraders getting out. Now instead of Ed being able to sell the Billion shares at say .0007 and now has to sell them at .0005 or .0004 and he has lost money. By doing it behind the scenes allows two things. One is that he sells them when the stock is rolling and plans on buying them back later when the price drops. He knows the price is going to drop because that's what the MMs do with pennies and he knows people will bail because he also has the gag on the TA which causes suspicion. This causes the usual uneasiness in the market and enevitably the price drops. Now what he does is behind the scenes, he buys back the 1 billion shares he sold earlier at an extremely low price, retires them and then Ungags the TA to bring the price back up and he can say "I told you the O/S was X amount all along". It's a really crummy way to treat the shareholder that have to go through it but in his mind probably anyone that sells his stock before he is done completing his 3 year plan is their loss. He has always told every single shareholder that calls him that "you don't see the bigger picture". The "bigger picture" is holding on no matter what happens till he is done is 3 year plan and then the gravy will come to all those that stuck with him.
Posted by mikensay on :
Yeah, I get you Leardron. The problem is that in 3 years will he be around to finish his plan? That's what makes most nervous. Don't get me wrong, so far everything I've seen is positive and I think Ed is a fairly straight shooter. I'm not dumping, but if your speculation is right, then he's into that grey area...and then I start to feel like a sheep.
Posted by NomarKash on :
I think, and Leardon correct me if I am wrong, Ed is already about a year into his 3 year plan. With the assets he is gathering, he will be around in another 2 years.
Posted by Leardron on :
The ball I keep following has nothing to do with what he is doing with the stock. It is what he is doing with the his promised business plan. He promised that he would grow his company into a 100 Million dollar a year revenue company through aggressive acquisitons. He has done everything he has promised so far with the exception of the Sanible acquistion in April. And explained in a PR why he didn't want to acquire them right now and it makes sense. Why should his company suck up the costs through the slow season when the previous owner can do that. Acquire them right when the busy season is starting and get it going right out of the gate. Another smart move which expands on his plan of growing the Sanibel chain was to convert the two restaurants in Arkansas and Memphis into Sanibel restaurants. That was a huge PR in my mind for the longs. Now he will have 5 Sanibel Restaurants in 3 states by the end of January 06. Possibly even 6 of them and another restaurant if the last PR comes together.
Now here is the one huge clinker in all of this that you have to take at his word or not. That is the dreaded Reverse Split. He has sworn that he would not do it and right now I am believing him because I think he will continue to do buybacks. Also he can take the current share structure onto the OTCBB and still be a respectable PPS if or when he grows this to a 100 Million dollar revenue company. 1.5 Billion shares outstanding would be fine if you are generating 100 Million dollars in revenue. all this is just my opinion and I am a glass half full type of guy. There are alot of valid arguements to the CON side of all of this and the only thing you can do is hope, epecially with the pps at this price. There really isn't thing else you can do.
Posted by mikensay on :
You're right NormaKash, he is somewhere around his 1 year mark. I'm not saying he won't be around, I'm saying often times an executive will put together a 2 or 3 year plan and then before you know it, he's moved on. That's where people start to get nervous.
Posted by Leardron on :
quote:Originally posted by NomarKash: I think, and Leardon correct me if I am wrong, Ed is already about a year into his 3 year plan. With the assets he is gathering, he will be around in another 2 years.
Actually Nomar, he is only into his 9 month! The company didn't start until the end of September of 04 and look what he has already acquired. I agree, Ed will be here to fulfill his plan. whether the share structure stays the same is the only thing I am a little worried about. Hopefully Ed will stick to his word there and keep it intact when we become fully reporting.
Posted by bmaxingout on :
im not at scared of ed moving on a man that buys over half a billion shares for him self knows something that we dont
i still repeat what i said back in feb. im in this long, this is a stock that would make warren buffett proud.
but it doesnt hurt to see a little rise in the pps,.......lol
Posted by imakmony2005 on :
ANY DAY NOW POP.
Posted by bmaxingout on :
leardron i agree 1.5 bill would be fine not so sure if it turns out to be five or six billion though.ican would still be way undervalued but wouldnt sit well with a lot of investors.I just hope that he keeps his word and doesnt do a r/s
i personally think that we are looking at 5 bill os time will tell
Posted by xyz on :
It could be what Qbid did. Last year they announced a stock buyback in Feb. In April when the stock ran they sold shares at the high price. In Dec when the price was at its low again they did a buy back like they said they would at the low price. But in reality what happened; they sold high, bought back low, made a profit, and the O/S ended up the same as it was in Feb 2004. But the buyback sounded good.
Posted by Leardron on :
quote:Originally posted by bmaxingout: leardron i agree 1.5 bill would be fine not so sure if it turns out to be five or six billion though.ican would still be way undervalued but wouldnt sit well with a lot of investors.I just hope that he keeps his word and doesnt do a r/s
i personally think that we are looking at 5 bill os time will tell
I agree that when he finally ungags the TA is could be around 5B because he has said that some people will be unhappy with the O/S when the TA is ungaged. I think it will be initial "stick shock" though. Once people have all the numbers and really look at the company, they will realize that even with 5B outstanding this company is way undervalued at the current pps. The other nice thing is that he has said he is going to file by the end of the month too. So not only is the TA going to be ungaged but everyone will be able to see the books.
Posted by 4Tune4Me on :
Time to come clean, Ed. Let's put the numbers on the table.
Posted by bmaxingout on :
i cannot wait to see the books it will give us all a real number as to what our p/e ratio will be. imho when that happens we will be going into penny land for sure. Can you smell it sure smells like good old american green backs to me.
Posted by bmaxingout on :
one more thing if he is filing and ungaging the ta by the end of the month we could see some really big volume days.That gives everyone about three weeks to load up and gives ed a chance to buy back at .0002
good things are about to happen
Posted by Leardron on :
Just one word of warning. This is what he has told different investors that have called him and until it is in a PR, take it with a grain of salt. Remember this is the guy that swore to investors that the O/S was 1.5B. I don't want to get shot if July 1st rolls around and he hasn't done it, lol. I am just the messenger. I am not trying to pump this stock just trying to give everyone information. I feel very confident that he will do it since he has told multiple investors the same thing I am just throwing out my own safe harbor statement, lol. Btw, don't look for this to occur until the 29th or 30th because he wants the Memphis Hotel and Restaurant on the books before he files and he doesn't acquire that till the 28th
Posted by NomarKash on :
quote:Originally posted by Leardron: Just one word of warning. This is what he has told different investors that have called him and until it is in a PR, take it with a grain of salt. Remember this is the guy that swore to investors that the O/S was 1.5B. I don't want to get shot if July 1st rolls around and he hasn't done it, lol. I am just the messenger. I am not trying to pump this stock just trying to give everyone information. I feel very confident that he will do it since he has told multiple investors the same thing I am just throwing out my own safe harbor statement, lol. Btw, don't look for this to occur until the 29th or 30th because he wants the Memphis Hotel and Restaurant on the books before he files and he doesn't acquire that till the 28th
Don't worry, I won't hold you responsible Posted by nyinvest on :
quote:Originally posted by bmaxingout: ...could see some really big volume days....
We have already seen some really big volume. At least 1.2B+ in a day is big in my book.
The more I research it, the more I like this company.
This is the first little stock I have gotten excited over in a long long time. The more I read, the more I research and the more I compare, the more I like it. Of course, it could be all built on lies. I'm betting big and picking a time frame of at least 30 days. The nice part is that it gives me more time to accumulate.
Posted by NomarKash on :
NYinvest, if you keep accumulating you will soon be majority owner!
Posted by nyinvest on :
I wouldn't mind ICAN calling me to ask what they should do. Posted by 4Tune4Me on :
They should be calling you to thank you for your support at least! Posted by WinsumLosesum on :
We appreciate your joining of our ICAN group to possibly help prove NSS and force the markets to cover their shortages. We are extremely pleased with the response to date. We hope the response will continue.
We are anticipating a reply from the CEOs at ICAN to update us on their share structure. We do not know if they will or not, but we remain hope full.
We are in need of your help in getting the word out that we have these share holder groups to count shares and possible force a squeeze on shares of ICAN, USCI and PRRM. Any and all help given is greatly appreciated by all who have signed up.
We also are in need of some financial help. We are not going to ever charge for signing up with any of our share holder groups as it is more important to receive the information from the share holders than it is to collect a small fee, however we hope that some will see the value of our efforts and find a way to help support our efforts.
We are in the process of considering other stocks that should be counted to make sure that the markets are playing fair. We would be interested in feedback on the symbols that you might feel have been shorted and warrant counting.
Thank you again for joining. John Sidfer
Posted by nyinvest on :
FYI, 30M of the volume today was mine.
Posted by Leardron on :
quote:Originally posted by nyinvest: FYI, 30M of the volume today was mine.
Wow, NICEEE. Now you have to record those shares out on the site, lol.
Posted by 4Tune4Me on :
You go, ny!
Posted by NomarKash on :
NYinvest, were you able to get them all at .0002?
Posted by Leardron on :
NYInvest, who is your broker if I might ask?
Posted by nyinvest on :
All of them @ .0002. Most of the shares went through Ameritrade. A few through Scottrade.
The two biggest blocks were a 10M and a 9M through Ameritrade.
Posted by Leardron on :
quote:Originally posted by nyinvest: All of them @ .0002. Most of the shares went through Ameritrade. A few through Scottrade.
The two biggest blocks were a 10M and a 9M through Ameritrade.
Cool thanks
Posted by nyinvest on :
If you see big blocks going through Merrill Lynch, I have a good idea who that is.
Posted by Runamuck on :
??
Posted by nyinvest on :
I'm only working with my play money. I have "real" money guys watching over my real stuff. They like ICAN too and will probably be collecting some.
Posted by 4Tune4Me on :
Somebody kick the ticker...hasn't moved since 9:50.
Posted by NomarKash on :
I'm still waiting for my order to fill. I think NYinvest bought it all!
Posted by bmaxingout on :
quote:Originally posted by 4Tune4Me: Somebody kick the ticker...hasn't moved since 9:50.
thats funny i was just thinking the same thing
Posted by bmaxingout on :
calm before the storm,...........
the perfect storm,.........
sorry just bored today,.......lol
Posted by nyinvest on :
Hell, I'm ready for a full-out hurricane!
Posted by farmgirl on :
I know people are reegistering there stock numbers as they buy but are they registering the sells so that shares are not counted twice? Or are we assuming that no one has sold a thing?
Posted by 4Tune4Me on :
Did anyone notice that .0001. How could this possibly go down with all the volume. Dilution? I've been watching this stock since last October and it was a .0003 - .0005 bouncer Never going below .0003.
Posted by farmgirl on :
I noticed and I am confused.
Posted by bond006 on :
wooooooooooooo! 0001. Posted by 4Tune4Me on :
This does not make sense based on information that we have. Our info has to be bad.
Posted by bond006 on :
i think that we are all a little confoused just hang tough and wait nothung else to do. uless you want to take a big hit
Posted by 4Tune4Me on :
I'm hanging tough - in til any lady sings.
Posted by farmgirl on :
I show 87 million traded at .0001.
Posted by Runamuck on :
.0001!!!!!!! WOW
Posted by farmgirl on :
I do not have funds till tomorrow but has anyone tried to buy in at .0001?
Posted by nyinvest on :
I've got about 60M in orders waiting to fill @ 0.0001. Nothing yet.
Posted by Runamuck on :
shees
Posted by Galaxy on :
My order was not executed.
Posted by stockaholic on :
Does anyone know what happened to the Pal Talk room for ICAN? I can't seem to find it anymore.
Posted by nyinvest on :
Nothing at 0.0001 but just before it dropped, my last order @ 0.0002 executed.
Hit my limit for buying at 0.0002. I'll leave my .0001 orders in place for the day and if they go, great. Otherwise I think I am right about where I want to be. Cross my fingers and wait now.
Posted by bond006 on :
no i have not been there in a long time i would think this would be a hey day for them though. Just pick up more could not get filled at .0001. so i took .0002
Posted by stockaholic on :
that's why I wanted to see what was happening. The room isn't there anymore as far as I can see. Or it's renamed...something
Posted by bmaxingout on :
quote:Originally posted by 4Tune4Me: Somebody kick the ticker...hasn't moved since 9:50.
OK who kicked the ticker who ever it was you kicked it too hard .0001 wtf
Posted by 4Tune4Me on :
Ok, now we know PR's and kicking the ticker = lower pps.
Posted by bond006 on :
leardron, stockaholic could not find pal talk chat room for ican did they quit?
Posted by Leardron on :
quote:Originally posted by bond006: leardron, stockaholic could not find pal talk chat room for ican did they quit?
It's now just called Penny Stock
Posted by stockaholic on :
got it! Thanks Leardron
Posted by NomarKash on :
stockaholic, give us updates from paltalk
Posted by stockaholic on :
LOL! Ok, well their talking about Shrek 2 at the moment so I think I'll check back Monday.
Posted by Leardron on :
Well, here is the scoop. Ed was called today and he said he is getting a report from the TA with everybody that currently holds stock in the company. He is then going to compare that against what the O/S is and he said "If they are not within the ball park of each other, the sh*t is going to hit the fan". He said he should get the report next week. I think this is part of lining up the ducks when he ungags the T/A. He is really pissed about the current pps.
He wouldn't tell us the O/S, of course, but he did say at the very worst it could be is 6 Billion Shares since the other 6 Billion shares is restricted. So I would say the 5 Billion is probably about right minus whatever he is buying back. He did confirm that he is still buying back. He definitley thinks this thing is shorted and it really came to realization with him when we had the 1.2 Billion traded day.
All in all he is very positive about the company, he said again definitley no reverse split. He also explained why it is taking him so long to file. The reason is that he needs to get the assets and revenues in line first before he can move to the Nasdaqsmallcaps. Because they require a company to have so many dollars in assests (he gave the figures I just don't remember) and x amount of dollars in net revenue, not gross revenue.
Personally it seems weird that this stock gets pounded down more and more as soon as it seems like ed is doing something about the naked shorting. It almost seems like the mms are flexing their muscles saying "you think the naked shorting is bad now, look what we really can do and you can't do anything about it". I really hope ed nails these guys to the wall.
Posted by stockaholic on :
Wow! Great info Leardron. Guess I should have stayed in the room a little longer.
Posted by Leardron on :
quote:Originally posted by stockaholic: Wow! Great info Leardron. Guess I should have stayed in the room a little longer.
Actually that happend this morning before you came in, lol. around 11am. Just took me this long to write it up.
Posted by stockaholic on :
Hey, good news is good news! The more I hear Ed's comments on this, and the more we see actual assests from this company, I like it more and more.
Posted by NomarKash on :
Leardon, that is much better than Shrek II , thanks for the update!!!
Posted by Leardron on :
Sitting in the Pal Talk room is like being on a stakeout. You have to go through 8 hours of survellence video before you get 5 minutes worth of meat, lol.
They end up talking about other things because there is only so long you can talk about the stock before your head hurts, lol.
Posted by nyinvest on :
I'm not sure you even get the 5 minutes.
Posted by TraderTom on :
Great post, Leardron.
I have this theory that the naked shorting may be due to a hedge fund, not MMs. I read about hedge funds shorting the hell out of a stocks with relatively low float, essentially until the PPS hits 0.0001. A few million $ is a piece of cake for these funds, so they can easily do this kind of thing. Now, many pink-sheet companies rely on dilution to raise operating funds: once the PPS hits 0.0001, the companies need to issue new shares like crazy to pay for ongoing activities (because the PPS is so low), and the hedge funds can easily cover their nakes shorts. They end up having essentially 100% profit.
I suspect that may be the case here. However, the hedge fund obviously has to fear a short squeeze; therefore, it HAS to hold down the price no matter what. So even if a company buys back shares aggressively (as ICAN), they have to continue shorting - if they stop, it would cause a massive short squeeze.
Unlike your typical pinkie, however, ICAN seems to have sufficient access to $$ independent from dilution, probably because the company is profitable and has real assets. This essentially turns around the tables: instead of being able to cover their shorts (because the company dilutes shares like crazy), the hedge fund has to continue shorting because Ed is buying like crazy. And as long as Ed continues to by back shares, the hedge fund will get into the hole deeper and deeper.
That's why I think we may see the mother of all short squeezes in the near future - but that's just my opinion. I keep on buying; I have nearly 20M shares now.
Posted by Leardron on :
quote:Originally posted by nyinvest: I'm not sure you even get the 5 minutes.
Yea, that is one bad thing about that room. They really bust the chops of any new people that come in. They usually just bounce'em and don't bother.
Posted by nyinvest on :
quote:Originally posted by Leardron: Yea, that is one bad thing about that room. They really bust the chops of any new people that come in. They usually just bounce'em and don't bother.
Suppose I should feel lucky.
Posted by Leardron on :
quote:Originally posted by nyinvest:
quote:Originally posted by Leardron: Yea, that is one bad thing about that room. They really bust the chops of any new people that come in. They usually just bounce'em and don't bother.
Suppose I should feel lucky.
lol, yea. Most of it comes from the fact that there are some really screwed up investors out there that are trying to hurt ed and his company for whatever reason. Ed said today that when he put that PR out this week about the 50 Million dollar development in Florida that someone actually called the developer and raked them over the coals about it. The developers called Ed all pissed off about it. Now it would really stink if one stupid shareholder would ruin a whole muli-million dollar deal. Not saying it has but Ed is dealing with some big time developers when they are doing a 50 Million dollar project and you don't want to make them unhappy.
The other one is the idiot on Raging Bull called DJDAN. Without going into details about it DJ got pissed at ED and has threaten Eds life on the board and had been totally tearing down ICAN on Raging Bull.
So that is why they are a little paranoid on Pal Talk of new people. Not necessarily right but that's where they are coming from.
Posted by NomarKash on :
The good thing is we have no bashers here at allstocks on ICAN. You go over and look at the posts at Raging Bull and its all trash.
Posted by scoopman on :
quote:Originally posted by NomarKash: The good thing is we have no bashers here at allstocks on ICAN. You go over and look at the posts at Raging Bull and its all trash.
Let us not forget Stockguy123 from the early days of this thread. I kinda miss him. LOL
Posted by WinsumLosesum on :
Well, let's not bring HIM up...
stockguy123 Member
Member Rated: posted March 02, 2005 15:29 ------------------------------------------------------------------------ Nothing, just posting the way it is. Why buy now when you can get it @0001-0002 soon ?
Geez, how do they learn anything at RB. They're too busy talking trash.
Posted by 4Tune4Me on :
Shhhh,Stockgirl might come back to gloat.
Posted by bond006 on :
good god what a thought i just got off the plni board right after stiener and i say one you never want to share a recovery room with that man what has got into him he won't say he just hacks every thing to pieces
Posted by bond006 on :
so how do you think monday will be. any ideas i think it might be the same lots of volume little change in the pps. unless we get the classic sqeez some how
Posted by imakmony2005 on :
Im just going to sit back and wait.
Posted by kptmoe on :
im sorry to say but you will able to get this stock at .000095 if you have the stomach--scam or no scam==money is money==it will see .00095 at some point in my lifetime; which seems to be coming to an end sooner than i thought
Posted by bmaxingout on :
quote:Originally posted by nyinvest: I'm not sure you even get the 5 minutes.
well i think that the reason it is so hard to get into the room is because people like djdan on raging bull comes or should i say sneaks in useing a different name grabs bits and peices of infomation then goes into raging bull and distorts everything just to continue bashing this company. Some people are just plain jackazzes,and that wreaks it for everyone else that has real intrest in investing in ican. In the ican group/room they have ALOT of money riding on this company and therefore take it personally. i guess i cant really blame them they are holding billions of shares. the only thing can say is go over to raging bull and tell djdan he should learn to shut his mouth about a stock that he really has no intrest in
imho these boards should only be used to share dd and not for bashing if you dont like the company just move on find one you do like.And please dont forget to share the dd you find
lets stop the bashing and bashers
Posted by bmaxingout on :
quote:Originally posted by kptmoe: im sorry to say but you will able to get this stock at .000095 if you have the stomach--scam or no scam==money is money==it will see .00095 at some point in my lifetime; which seems to be coming to an end sooner than i thought
are you a basher?
Posted by bmaxingout on :
personaly i kinda hope that it does go down to .000095 ed would be able to buy back the float much cheaper besides mm have a much tougher time shorting at that low of a pps at some point they will need to cover
Posted by bond006 on :
good move bond wrong thread
Posted by nyinvest on :
I'm debating buying more if I can get it at 0.0001. I'm definitely done at .0002. I'm happy with my position as it is, but averaging down something you are confident in is always attractive.
Obviously, I like the company. I could be completely wrong, but it looks like I would be in good company in that case.
As for the bashers, I see three types. The kind that just badmouths the stock, the kind that badmouths the stock and anyone that buys it and then there are the people that have some deep depp issues that have nothing to do with the stock anyways.
Posted by bond006 on :
well if it does hit.000095 why agreat time to pick more up. go ican go. i more thing ed has been true to his word on the over all big picture and has kept us informed thats why i am still in
Posted by tntrader on :
quote:Originally posted by bond006: well if it does hit.000095 why agreat time to pick more up. go ican go. i more thing ed has been true to his word on the over all big picture and has kept us informed thats why i am still in
quote: -------------------------------------------------------------------------------- Originally posted by bond006: well if it does hit.000095 why agreat time to pick more up. go ican go. i more thing ed has been true to his word on the over all big picture and has kept us informed thats why i am still in you are right too many 0's 00095
Posted by NSUstud on :
what do you think the chances of ICAN dropping back down to .0001 are? pretty likely or not.
Posted by NomarKash on :
Not very likely. If it does, I don't think you will be able to purchase at that PPS.
Posted by kptmoe on :
sorry, i was away all day-- i did not mean to write 000095==imeant00095==and i am not a basher at all--i am a believer since 0005 but have sat out until at least next week==i think it has more to drop and then i will be all in==looking for 00090==good luck everyone--i am also as long as anyone can be on plni but i believe that has a little more to drop also====
Posted by bmaxingout on :
jmho but i think that we are about to see things really happen this week.not sure how the pps will react but GLTA
still holding strong: go ican
Posted by going for gold on :
just bought an extra million at 0.0002;now 17m on account Posted by NomarKash on :
If anyone gets an order filled at .0001, please post!
Posted by Leardron on :
NEWS!!
IBAC Corporation Reports Better Than Expected May Revenues
NEW YORK, Jun 13, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK) today announced better than expected revenues for the month of May for The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites of $326,418.27 combined. These revenue figures are compiled from internal company accounting/bookkeeping and are subject to audit by the company's independent accountants/auditors. For the month, The Sanibel Restaurant Group had a 4 percent gain, over the same period last year. The Royal Arkansas Hotel & Suites had a 48 percent gain over the same period last year. (The company did not own these subsidiaries last year (2004) and were operated by the previous owners)
The Royal Arkansas Hotels & Suites expect a significant increase in revenue for June & July as scheduled bookings & banquets are at an all time high for those months. The company also expects additional increases in revenues from its Hotel operations in July from the newly acquired Memphis Airport Hotel is added June 28th (this month).
The company also expects a major increase in revenues from its restaurant operations for the third quarter when the company adds the second Sanibel Steakhouse (August 15th Closing).
About IBAC Corporation: (Pink Sheets:ICAN.PK). IBAC Corporation, through its operating subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide, IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments, visit our website @ www.ibaccorp.com.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Posted by going for gold on :
thx leardron,
Posted by NomarKash on :
good news! - as usual.
Posted by going for gold on :
ed,now work on the gag,and you make a happy(rich )man
Posted by Leardron on :
We'll see what happens this week after he get the Noble list from the DTC.
Posted by going for gold on :
must say,i'm a little curious, how ed will handle the situation,but as you said before, wait an see is the message
Posted by bmaxingout on :
IBAC Corporation Reports Better Than Expected May Revenues
gotts love it go ican
Posted by duediligence1 on :
We don't know that its good news other then it was more then expected. I guess thats always good news. But the expenses of these types of businesses are huge. So until we know the net income instead of gross then we will never know if its good news or not. Thats the problem with most of these pennies. They give you round about numbers that make it sound great but the real numbers you need to make the right coices are never given.
quote:Originally posted by NomarKash: good news! - as usual.
Posted by Leardron on :
quote:Originally posted by duediligence1: We don't know that its good news other then it was more then expected. I guess thats always good news. But the expenses of these types of businesses are huge. So until we know the net income instead of gross then we will never know if its good news or not. Thats the problem with most of these pennies. They give you round about numbers that make it sound great but the real numbers you need to make the right coices are never given.
quote:Originally posted by NomarKash: good news! - as usual.
Hopefully he will be keeping his word and filing very soon but we will see.
Posted by mikensay on :
quote:Originally posted by Leardron:
quote:Originally posted by duediligence1: We don't know that its good news other then it was more then expected. I guess thats always good news. But the expenses of these types of businesses are huge. So until we know the net income instead of gross then we will never know if its good news or not. Thats the problem with most of these pennies. They give you round about numbers that make it sound great but the real numbers you need to make the right coices are never given.
quote:Originally posted by NomarKash: good news! - as usual.
Hopefully he will be keeping his word and filing very soon but we will see.
Is there a time delay between filing and when we can see the numbers?
Posted by tongusc on :
have anyone had a chance purchased at .0001 yet? or before. i am trying to get in
Posted by noah129 on :
im still holding and i have an open order for another 2 million that is not filling at .0002.hopefully soon though.good luck to you all if my order goes through ill be holding onto 8 million that are not for sale.lets buy up the float keep it in strong hands and let ed do his thing.
Posted by stockaholic on :
Just picked up another mil. @ .0002 Wouldn't fill @ .0001
Posted by nyinvest on :
Got an order in at 0.0001 that hasn't filled.
Posted by Leardron on :
WOW, 100Million shares went through in one block at .0001. Anyone get any of it?
Posted by nyinvest on :
Not here.
Posted by shgray on :
i got 1million at .0001
Posted by Leardron on :
WOW, MMs continuing to short the crap out of this.
Posted by tongusc on :
sht,i missed i was about to change the bid at.0001 and then i got placed in at .0002 lol well still a good call.. crzyasss nakeshorters..
Posted by noah129 on :
what the heck is going on i added two mil more now im seeing all these trades go through @.0001 i have an open order for three million @ .0001 ill post if i get it filled.ive never seen a stock go down everytime good news comes out.this certainly is very strange.oh well wait and see i guess.
Posted by stockaholic on :
Hopefully, that won't be an issue soon.
Posted by tongusc on :
quote:Originally posted by noah129: what the heck is going on i added two mil more now im seeing all these trades go through @.0001 i have an open order for three million @ .0001 ill post if i get it filled.ive never seen a stock go down everytime good news comes out.this certainly is very strange.oh well wait and see i guess.
MM is keep shorting this.... i got placed in at .0002.
Posted by nyinvest on :
An awful lot of shares poured through @ .0001 suddenly. Nothing of mine is filling.
Posted by noah129 on :
yeah @ .0002 its an easy fill i got 2 mil more at that price as well but i want to avg down fairly big so im praying for a fill at .0001.
Posted by tongusc on :
does this company have any hisotry of RS b4?
Posted by Leardron on :
quote:Originally posted by tongusc: does this company have any hisotry of RS b4?
No, the company just started 8 to 9 months ago.
Posted by Runamuck on :
Yall think he is still buying back?
Posted by bmaxingout on :
ed said that he would continue buying back so this might be him
also Ed has promised no RS
Posted by noah129 on :
well my order definitely did not go through @.0001
Posted by bond006 on :
my order did not go through at .0001 either i bumped to .0002 and it went right through now 15,000,000. i hoe we get some good news glta
Posted by Leardron on :
This looks like MM games again. Just like when we were at .0002 x .0003 when they did all those 9M sells. 450Million shares go at .0001 and not one MM moved. Trying to shake the tree again.
Posted by noah129 on :
well none of my shares are for sale no question about that im holding on until we find paradise or this ship sinks.
Posted by xyz on :
Well, didn't this company do the perfect P&D. Make a great offer then give a problem then cancel the offer. This BOD knows what it is doing. Promise everyone a spinoff to a OTC, start the pump. Send a paid pumper to the board to promote the pump. When the pps rises then dump as fast as you can. Then tell everyone that they are going private to soften the blow of a cancelled spinoff then break it to everyone that for the best interest everything will remain the same. The person that started this pump is good at it anyway. That should have been the first sign of the pump. Wonder how many shares they sold off at the .0006-.001 range. Company probably made big bucks off this play. Then Ed talks about buying shares. Yell right, he knew the dump would drive it down and he could buy some cheap shares in a grand gester. Pal-Talk has become the fuel for these P&D's anymore and the host is usely paid to promote. But hey you want real proof of a past P&D. The new thing after a P&D is the company screams naked shorting. If you hear this with no facts to back it up by the company and a gagged TA then its a fact they just dumped on you.
Posted by bmaxingout on :
hey dj is that you,you pos basher go back to rb where you belong
Posted by bmaxingout on :
hey xyz either post with facts or go back where you came from (dj)
did anyone know that dj is a paid basher hes ticked off because everyone knows its him as soon as he opens his bashing mouth
how could anyone post as often as he does without geting paid he posts 10-12 hous per day all crap all the time
Posted by bond006 on :
we don't need that type of talk here. we have been doing just great with out it. we are all adults and nobody forced us to use our finger to buy if we don't win then we don't win it does not mean the war is over. glta
Posted by stockaholic on :
quote:Originally posted by bmaxingout: hey dj is that you,you pos basher go back to rb where you belong
No kidding! I hope that cancer doesn't spread over here too.
Posted by xyz on :
Not sure who DJ is and don't care. Sorry, I posted the facts and was dd. Promises were made and broken and now blame is being placed. That is dd whether yo like it or not. But I had my say, I am out. I never attacked anyone in here personaly so why attack me. If what I said wasn't true then give a rebuttal not a personal attack.
Posted by Leardron on :
quote:Originally posted by xyz: Not sure who DJ is and don't care. Sorry, I posted the facts and was dd. Promises were made and broken and now blame is being placed. That is dd whether yo like it or not. But I had my say, I am out. I never attacked anyone in here personaly so why attack me. If what I said wasn't true then give a rebuttal not a personal attack.
Take a look at this chart and tell me it isn't MM manipulation. If you look at the bottom of the chart the green shows money coming into the company with buys and red shows money leaving the company through sells. This is being accumlated big time. If you don't trust me, type in other symbols like cmkx or unqt and you can see the difference.
Posted by gfowler1 on :
I just got a fill for 2m shares @ .0001
Posted by Leardron on :
Chart's URL isn't working.
Posted by TraderTom on :
I also just got a fill at 0.0001 (5M shares) - I'll continue buying at these bargain prices.
Unbelievable volume again - over 1.3 Billion and counting ...
Tom
Posted by bmaxingout on :
sorry if that seemed like a person attack just get a little po'd when members come in from out of the blue and start bashin with no dd to back up their claims. if i post something that i cannot back up with proof then i would always start the post or end the post with JMHO i would never spout rumors as if they were facts again sorry for the attack
Posted by nyinvest on :
This whole penny stock crowd is absolutely fascinating. The rampant paranoia is amazing! Ad hominem attacks are the argument of choice. It's pretty cool that I have, more than once, been accused of being someone else. The best part is that nobody knows who I am but can't tell me who they think I am. Just say something and you automatically get tagged as one extremist or another. Hell, I've been told that my points don't count because I don't use the right kind of computer!
I like ICAN. Ignoring the other "crap" associated with all these sub-market plays, it looks to be half way decent at these prices. Won't go into them since facts hold no weight and rumors are the currency of trade.
I'm sure many of you will be glad to know you chased another person out of your little club. I'll head back to the big boards where reality has some weight.
Posted by bond006 on :
lol nobody chased you we don't like negative talk if you have pr to post or some facts fine lol
Posted by Leardron on :
Still not working. For some reason it doesn't translate the settings over.
Posted by bmaxingout on :
wow over a billion traded today kinda wish that i knew what someone does. imho something big is about to happen rumor mill has it that"investor" bought one billion today my chart cannot confirm that does anyone have any info to share on this
Posted by NomarKash on :
Leardon, it seems to be working for me. But try this:
that works but you got to change the MACD to Chaikin Money Flow. Then you can see it.
Posted by ACKCANE on :
I know Ed said no R/S, but doesn't this smell like a R/S on the way? I sure hope not! Any other theories?
Posted by bond006 on :
i just trust ed on the question of a r/s if he was going to do that why would he be buying all his shares up like he is
Posted by 4Tune4Me on :
Do we have any proof at all that Ed is buying shares? Not so sure that ICAN is what it seems. PPS is unstable. When you trade over a billion shares on a stock that is not fully reporting even if NSS is involved, I think the warning signals should be going off.
Posted by TraderTom on :
Lots of after-hour trades now (about 240M shares) - all at 0.0001.
Posted by NSUstud on :
Come on people. We need to quit losing faith in Ed. XYZ is trying to turn us against Ed and his company. Don't listen to XYZ. Just keep your faith in Ed.
Posted by Ric on :
He may have been a little harsh but most here did get into this company because of the spinoff. I love it when people feel threatened by a different point of view. But .0001 is worth looking at. Just those that bought at .0006 or higher may be down and wondering why they did this after they promised us the OTCbb spinoff. I think many are feeling betrayed.
Posted by Miss Lesley on :
Hi everyone.
The question was asked “how do we know if Ed is really the one buying back shares?” Well if he is not then he is a fool.
This is based on my belief.
It has been rumored that Ed has agreed to ungag the TA. If this is true then I believe ed is buying and here is why.
I think at some point there has been some dilution of ICAN stock. Therefore, with everything coming ahead Ed needs to get his ducks in a row and apart of that will be bring the O/S and share structure in line with what he has published in his PR's. Thus Ed mostlike is buying back shares and earmarking a significant portion for retirement.
This way when ED un-gags the t/a even though the numbers won't match the 1.5 billion, as long as it is under 6 billion, the shareholders will hopefully pay attention to the fact that the campany shares are still under valued.
Also remember Ed is in this to make money and if he does not raise the pps, there is only but so much he can make. Plus in order to continue his quest for the accumulation of assets to the tune of 100 million, he has to work on this aspect of the company's failing.
Also, there are shareholder/managment implications. If one person owns a certain percentage of the company, then Ed is open to to having to deal with their demands and such. SO for him to maintain his power, he needs to stay ahead of us shareholders. Especially at this pps.
Thus when he sees a high volume of buying he has to watch and at some point he has to join in and buy as well. So yeah IMHO Ed is buying.
Posted by kptmoe on :
get oooot as quickly as possible if you know what is good for you and your family..
Posted by kptmoe on :
i am not a basher=== i am just using my brain===buy back when it hits 000090
Posted by bmaxingout on :
quote:Originally posted by Ric: He may have been a little harsh but most here did get into this company because of the spinoff. I love it when people feel threatened by a different point of view. But .0001 is worth looking at. Just those that bought at .0006 or higher may be down and wondering why they did this after they promised us the OTCbb spinoff. I think many are feeling betrayed.
i understand what you are saying but the spinoff is just part of what we were buying.i for one am waiting for what the company is worth and beleive its still way undervalued
Posted by noah129 on :
those that have faith put in a small amount at these levels dont get scared into trading your shares in at the bottom.buy low sell high very simple.lets hope ed keeps his word on no reverse split and give this some time to get back to .001 level.im holding 8 million that are not forsale.and im going to keep adding if ican get any fills @.0001.
Posted by TraderTom on :
I'm also holding on to my shares and are purchasing more at 0.0001; either I'll sell them at a much higher price or they'll sink. I'm as frustrated as most of us about the cancellation of the OTC spinoff and about the low PPS.
However, I trust Ed since he delivered big-time in terms of the things that are under his control (i.e. the business part of ICAN):
We now own 3 Sanibel steakhouses We own the Royal Arkansas Hotel (Pine Bluff) We own the Ramada Inn in Memphis 2 more Sanibel steakhouses are planned in Arkansas & Memphis
In comparison, even if we assume 10 billion O/S, the total valuation of IBAC is only $1 million at 0.0001, which is less than even one of the hotels or just 3 times monthly revenues.
This is obviously very different from most other pink sheet companies, which have no assets and no revenues whatsoever. If all Ed would want to do is to screw us out of our money, it would be so much easier for him to by a piece of property somewhere and claim there may lots of diamonds in the ground. Or say the company holds a patent that will cure cancer and is potentially worth 100 trillion dollars. There would be enough people throwing money at him.
I guess my point is this: why go through all this trouble of acquiring hotels, building restaurants, etc. - real things that we can check out and see for ourselves (which some of us have)? Because Ed wants to build up the company and do the best for our (and his) pocketbook. That's why it's worthwhile holding on to the shares.
Posted by ravioli on :
hello I dont wanna be a pain in the neck but who has checked to see if any of these places really exist?I live in georgia maybe I go to tennessee and check
Posted by NomarKash on :
I've been to all the Sanibel Steakhouses, they exist. The recent purchase of the Ramada exists also, otherwise Ramada.com lets you reserve a fake room.
Posted by Leardron on :
quote:Originally posted by ravioli: hello I dont wanna be a pain in the neck but who has checked to see if any of these places really exist?I live in georgia maybe I go to tennessee and check
Okay, I agree that some of us have jumped all over the people who are bringing up an alternative view but then you have stupid questions like this. First of all this guy is a new member and his first thing to do is to come in here and ask if we really have assets or not??? Geez talk about making absurd accusation just to stir the pot. I got to wonder what this guys agenda is, I might be paranoid but I have seen all the other guys that have questions now about the stock post before through this whole thing but I really have to question a brand new member coming on and posting this question.
To answer you question, yes we have all the assets and they are verifiable through independent sources as well as many investors have gone there. One has even met Ed at the Sanibel steakhouse and had lunch with him. I can understand people saying dilution and some other things because we just don't know until the TA is ungaged but lets don't get silly.
Posted by Leardron on :
quote:Originally posted by kptmoe: i am not a basher=== i am just using my brain===buy back when it hits 000090
Okay, tell me how this makes sense. You are asking people to sell at a huge loss at .0001 (because that's where the bid is ) only to get back in at .00009. First of all that's only a 10% gain plus the person will have lost at least 50%. Tell me again how it makes sense to sell right now ?????
You can do two things right now, One is to buy more to hold and average down or buy more now to try an flip it at these levels to make some money back until we see what Ed is going to do. Personally, that is what I am going to try to do is buy some now and try to flip it a few times.
People talk about using their brain, well use it now! It is very simple what is happening right now. If you look at the chart I mentioned earlier this stock is being bought up huge time Money is flowing into this stock huge. Sense that is the case and the pps is still going down it means one of two thing. One Ed is dumped alot of shares into the market or Two, the MMs are dumping a large amount of shorted shares into the market to scare investors that don't know any better. Personally I think a little of both has been done. I think the O/S is around 5 to 6 Billion but I bet you this stock is Naked shorted up to at least 12 Billion. I heard this out of Ed's mouth himself. He said if the Noble report shows something Way out of Range like 15 Billion shares there is going to be heck to pay. To me the fact that he is saying 15 Billion is way out of range also indicates a much lower O/S.
Don't you also think it is strange that the Volume has gone bonkers since the word got out that Ed is going to ungag the TA and the pps has dropped drastically. I really think the mms are trying to shake out as many shares as possible before that happens and also have the price at a very low level so when the O/S is revealed they can buy back shares at a relatively low cost.
[ June 14, 2005, 07:40: Message edited by: Leardron ]
Posted by noah129 on :
i wish i new what was up .what i do know is that this is a company with real assets that generates cash flow.we dont know if they are profitable or not .we dont know how much the a/s is or the o/s is but i was looking at the chart a minute ago and noticed yesterday was the largest one day volume that ican has ever had.something is up big time ican only hope it is ed buying up the float and a short squeeze is inevitable.with pinks though you just never know.
Posted by Leardron on :
quote:Originally posted by noah129: i wish i new what was up .what i do know is that this is a company with real assets that generates cash flow.we dont know if they are profitable or not .we dont know how much the a/s is or the o/s is but i was looking at the chart a minute ago and noticed yesterday was the largest one day volume that ican has ever had.something is up big time ican only hope it is ed buying up the float and a short squeeze is inevitable.with pinks though you just never know.
Actually we do know what the A/S is. It is 12 Billion. You can call the DTC to get that. It is the O/S that we don't know.
Posted by noah129 on :
well knowing that the a/s is 12 billion how can ican be at these prices unless one of two things is happening either market maker manipulation or dilution.we need a big pr something to force the mm's to cover if they are shorting the shi$ out of this like we think they are.
Posted by bmaxingout on :
the a/s is 12 billion that number has been confirmed by many holders. o/s is a guess and my best guess is 5 billion
Posted by Runamuck on :
I am going with 5 billion also... I dont knwo what kind of PR would make this move besides ungagging the TA
Posted by bmaxingout on :
quote:Originally posted by Runamuck: I am going with 5 billion also... I dont knwo what kind of PR would make this move besides ungagging the TA
we have seen some really great prs and still no pop the only thing left is ungaging the ta and that will be happening very soon.imho when watch for the mother of all short squeeezzzeeesss im still holding for .03 and that will happen again ihmo
Posted by bmaxingout on :
hey all, im stuck at work today so if anyone could throw out some L2's today that would be great
thanks Bmax
Posted by 4Tune4Me on :
Folks, the best course of action is to think your investment thru. Leave your emotions at the door or they will cloud your judgement. Hear the positive and the negative with an open mind. Understand that there are way too many variables in Pennyland to know with ANY certainty that what your are being told is true or false. PR's are not written in stone. Until you have accountability, ie. full-reporting/reputable exhange, you have no way to accurately determine whether your investment is sound. When faith becomes part of your primary decision making process, you lost your objectivety. Also, understand that CEO's have alot more control over the process than we give them credit for. It's easy enough to point to NSS but it is not always the case. Gagging the TA is a choice that Ed has strategically made. Miss Lesley's theory on that seems to hit the nail on the head. "Her" posts seems quite knowledgable in the matter, in fact.
Sorry for the long diatribe. I think it was important to say.
Posted by bond006 on :
is anybody getting filled today at .0001 i am having trouble. i guess my short term goal on this one is trying to get filled like a lot of people at .0001 glta
Posted by justplayin on :
I got filled yesterday at .0001 for 750k! Posted by bmaxingout on :
i've had a order in from the start of the day @.0001 and still no fill
Posted by Miss Lesley on :
Thanks for the compliment.
When I decided to invest my money in the market I did a lot of researched and talked to a lot of friends. Plus I have been blessed with a heavy dose of common sense. Which will hopefully make me a good lawyer. The only thing I can do is read charts and none of the people I know can, sad really.
As for looking at an investment realistically. We are all beyond the 10% stop lost point with the stock at .0001. So why sell your shares, unless your using it to offset other capital gains that you have accumulated. If this is not the case then it makes sense to hold and not sell at a lost.
As for a spin off company, I think it might be better that he did not follow this course of action. With moving of assets and staff and stuff there is a large margin for error to made. Which in the end shaft the investor. Ed just needs to make IBAC corporation and all of its subsidiaries into fully reporting companies. And moving us from the pinksheet to maybe OTC but better yet AMEX. This way there is less of a chance for mistakes to be made. Question: How hard is it for ED and his BOD to make IBAC the company it could be compared to the cost, paperwork and time to start up a new company, transferring the assets from IBAC to the new one, then determining what IBAC shares are worth in this new company. How do we know that we would not get the shaft that way? As for re-evaluating people position in this company. I know that I did a lot of DD on this company and one of the things I like is that this company has tangible assets, so granted while it will be a pain to have to pursue if something goes wrong, then we have legal recourse. That is why I am surprised that this stock is being shorted. One would think that fact alone would make this an undesirable pinksheet to short. Besides that the CEO and BOD can be held accountable for its actions.
Finally when looking to the future of this stock: Three things have to happen in conjunction in order for the pps to move up.
1. Ungagged T/A- Knowing the share structure is important to knowing realistically what the stock is worth. 2. It is nice to know net financial numbers, but what is better is gross numbers. We need to know how much overhead and cost go into these businesses. Without these numbers the ungagged t/a helps but is not effective. 3. People need to not sell as soon as the price goes up. Granted people want to recoup there losses and possible make some dosh, however the sell off should be gradual thus allowing the stock to continue and upward price climb. Dumping millions of shares in the market, will lower the price quick.
(BTW I am not working for Ed or IBAC Corp nor and I married to him. I am not a pumper or a basher. I try and write facts and I try to be objective)
Posted by Allen on :
ravioli -- I am from Memphis and I can tell you the Ramada definately exists. I have an Aunt in FL that has been to the Sanibel and she says that it is great. I haven't been to the Hotel in Arkansas but the Royal Arkansas Hotel & Suites is listed on the Chamber of Commerce website for Pine Bluff so is the Convention Center is and IBAC has the contract for that also.
I know there is supposed to be a big effort to renovate the Airport area in Memphis and if that is true this Ramada and the building for the new Sanibel are in a perfect position. They are located only 14 miles from where I live and less than 5 from the Memphis International Airport. The motel is located between the Airport and Elvis' mansion. It is also in direct route for all historical places in Memphis.
I really think this was a good move for the company and I see alot of potential. I have 3.5M and holding.
Posted by NomarKash on :
quote:Originally posted by Allen: ravioli -- I am from Memphis and I can tell you the Ramada definately exists. I have an Aunt in FL that has been to the Sanibel and she says that it is great. I haven't been to the Hotel in Arkansas but the Royal Arkansas Hotel & Suites is listed on the Chamber of Commerce website for Pine Bluff so is the Convention Center is and IBAC has the contract for that also.
I know there is supposed to be a big effort to renovate the Airport area in Memphis and if that is true this Ramada and the building for the new Sanibel are in a perfect position. They are located only 14 miles from where I live and less than 5 from the Memphis International Airport. The motel is located between the Airport and Elvis' mansion. It is also in direct route for all historical places in Memphis.
I really think this was a good move for the company and I see alot of potential. I have 3.5M and holding.
Thanks for the input!
Posted by NomarKash on :
any fills today at .0001?
Posted by bond006 on :
i have not had a fill for .0001
Posted by bmaxingout on :
pretty slow day so far in ican world
yawn
Posted by bmaxingout on :
pretty slow day in ican world at least we are up 100% for the day,....lol
yawn
Posted by BlackWidow on :
(BTW I am not working for Ed or IBAC Corp nor and I married to him. I am not a pumper or a basher. I try and write facts and I try to be objective)
But I notice that you never say that you are NOT ED (And genuinely I just thought the absence was funny and nothing more~TEE HEE)
Thanks for your well thought out and insightful posts!
Posted by farmgirl on :
I can handle slow days when we have positive gain. Keep going ICAN
Posted by bmaxingout on :
just noticed .0001 has anyone been filled yet
Posted by gfowler1 on :
I got a fill @ .0001 (3.6m)
Posted by Rags2BetahRags on :
I can say one thing I looked into and that was renting the convention center for a seminar and booking the hotel rooms.
The rates were not discounted and the meals to be provided for the pine bluff region were a bit high for a normal buffet style luncheon.
The rates on the hotel were 69.99 a room and the lunch was 10.99 for a bare minimum up to 17.99 for a buffet style plate.
They never have returned a call about the availability dates I requested either.
NO I am not bashing them I am posting facts which put a distaste in my mouth from this. I am still holding my shares as I think they will be doing more asset building base.
I have left my shares and not followed in a while so hoping Ed sticks to hiw word and can do what he says he can with OUR money. I agree with Ms Lesley.
The T/A needs ungagged. Revenues and share structure needs to be brought out. More details about the Mephis deal would be nice to see since there is alot of activity going on there. Are the revenues declining because of the work there or are they increasing with traffic for the season is a question for whoever it was from Memphis out of curiousity.
Posted by bmaxingout on :
only 1 mill and still no fill @.0001
Posted by bond006 on :
no fill for me at .0001
Posted by Miss Lesley on :
Rags2betahrags: I know what your saying.
A few weeks ago, when I look up the hotel on line. And I must say I was disappointed.
1. It is a 2 star hotel attached to a convention center I would think it should be at least a 3 star hotel if not a 4.
2. The web site is under construction and a month later is still under contruction.
3. When I read reviews about people's experience staying there; one reviewer wished they had stayed at the super 8. The other few reviews I could find on the net where in this vein, but I think they complimented the staff and the food.
This worried me, because this was the same history the Ramada the company was buying had. And even if this was not true with people depending more and more on the internet for help in deciding on certain places this could not be good for our profit margin.
4. Plus with the recent consert and stuff, I have not seen any new posting. I was hoping that management would have been pushing for customers to take the time to do so.
So I called IBAC corporation to ask about what was being done to improve on imiage on line and to make sure the hotel really wasn't that bad. I have yet to hear from ED or anyone from the company although I was promised a callback within 24 hours.
BTW: I am also not ED, or a friend or family member of his. Just a plain old investor.
Posted by BlackWidow on :
Definitely not plain!
Thanks again for your outstanding DD.
Posted by shgray on :
quote:Originally posted by Rags2BetahRags: I can say one thing I looked into and that was renting the convention center for a seminar and booking the hotel rooms.
The rates were not discounted and the meals to be provided for the pine bluff region were a bit high for a normal buffet style luncheon.
The rates on the hotel were 69.99 a room and the lunch was 10.99 for a bare minimum up to 17.99 for a buffet style plate.
well in my mind 17.99 for buffet seems normal if not cheaper then what u pay in vegas, or what u pay here in san diego, and 10.99 for bareminimum what? seems cheap to me, 69.99 is reall cheap. But i guess it is all perspective.
Posted by Leardron on :
One thing you all have to remember is that Ed is buying up "defunked" hotels and motels in good locations. Then he renovates them to make them productive again. That is what Gary Becker, the head of that division does. He has like 30 plus years experience rebuilding Hotels and restaurants.
Ed has also said that he will not buy a property that cannot currently sustain itself when he buys it. I remember reading an article on the Arkansas Hotel and they said it was currently a 2 star but the new owner is renovating it to make it a 4 star. Now I would love to see if anyone lived near there to tell me if any renovation is going on yet.
Posted by Rags2BetahRags on :
I have called the corporate (shoudl I say the answering service) for more than 2 weeks on a daily basis to yet receive a call back from anyone.
If this was at my buy in point I would sell and not complain. Since it is the low factor it is I kissed my gains away and just figure I should sit on my shares and hope for the best that maybe someday they will be back where I bought.
I did not even get a website for the hotel given to me when I called nor the convention center. I called to book only since I am an investor. Since no call back I went ahead with another company in another area.
The promotion of the company needs some definite work and the entertainment company which promotes the concerts definitely needs to be revamped with a stronger awareness web.radio,Tv, print and corporate site. Look at all the outlets they have to create a buzz for these concerts.
Thats enough from me I am going back to my hole and shutting up and whine to myself stillgonna hold my shares though.
Posted by bmaxingout on :
wow volume just popped
Posted by Leardron on :
quote:Originally posted by Rags2BetahRags: I have called the corporate (shoudl I say the answering service) for more than 2 weeks on a daily basis to yet receive a call back from anyone.
If this was at my buy in point I would sell and not complain. Since it is the low factor it is I kissed my gains away and just figure I should sit on my shares and hope for the best that maybe someday they will be back where I bought.
I did not even get a website for the hotel given to me when I called nor the convention center. I called to book only since I am an investor. Since no call back I went ahead with another company in another area.
The promotion of the company needs some definite work and the entertainment company which promotes the concerts definitely needs to be revamped with a stronger awareness web.radio,Tv, print and corporate site. Look at all the outlets they have to create a buzz for these concerts.
Thats enough from me I am going back to my hole and shutting up and whine to myself stillgonna hold my shares though.
Rags, I am not sure If Eds people actually run the convention center, maybe they do but I remember when he had one of his talks that he owns the Hotel and he gets all the revenue for drinks, food, and entertainment at the convention center but he might not own the building. I am not totally sure on that but I remember him saying that about the revenues.
Posted by bmaxingout on :
wow hear we go again
Posted by TraderTom on :
Perhaps the MMs now have the PPS where they like it most: buy at 0.0001 and sell at 0.0002, for an instant 100% profit!
Posted by bmaxingout on :
and that is just what i did today bought 1 mill @.0001 it sold for .0002 twenty min. later.I think that I might try that again tommorow for 2 mill
Posted by noah129 on :
well mine still are not for sale.no mm can have mine i will continue to accumulate at these levels and no pps can shake me out of the position that i have spent a long time building.i hope there is other strong hands holding this stock becuase even though i dont have the dd to back it up i beleive one day this will pop big and i will still be here for the ride up.good luck to you all.sincerely noah.
Posted by bmaxingout on :
im not selling the shares that i have been holding just flipping some new ones and trying to get my average cost down. heck i made two hundred dollars today this is the best day i have had in ican in a long time, even had a little fun doing it.
Posted by Bigrod40 on :
quote:Originally posted by bmaxingout: and that is just what i did today bought 1 mill @.0001 it sold for .0002 twenty min. later.I think that I might try that again tommorow for 2 mill
Ok who did the buying and selling for you? I had 2 million for sale all day at .0002 and didnt get a sniff. Im with RBC in Canada. So bmaxingout whos your broker?
Posted by bmaxingout on :
i have ameritrade
Posted by bmaxingout on :
i have a feeling that we are going to have another big volume day
Posted by 4Tune4Me on :
Only 33.5Million and .0002 @ 11:23...
Posted by bmaxingout on :
most of the large volume has been coming after lunch well see
Posted by 4Tune4Me on :
Geez, this thread has gotten awfully quiet. Maybe we need to check and revise the share count.
Posted by farmgirl on :
It may be quiet because our stock is at .0001 and should be much higher.
Posted by bmaxingout on :
hey maybe the ticker is stuck again
could someone please give it a kick
Posted by 4Tune4Me on :
I already kicked it...No joke, has trading been halted? Or should it be characterized as more of a standoff?
Posted by noah129 on :
yeah this is not a great sign that investors seem to be going elsewhere do to the price per share i think.im still 8 million long and strong im waiting for this to play out.
Posted by justplayin on :
It was mentioned by someone several pages ago in this thread that they called their broker and that the trades do not need to be reported until the end of the day.
Posted by bmaxingout on :
wow all i can say is this is not good good luck to all
Posted by ACKCANE on :
I've tried selling a few shares @.0002 and buying @.0001 . . . no go. Anyone else?
Posted by bmaxingout on :
i have one mill in for a buy @.0001 and a one mill. sell for .0002 all is no go.
i think this is something big not sure if it is good or bad. but it is show time
Posted by bond006 on :
join the club .0001 for 2 days no fill
Posted by 4Tune4Me on :
Ok, kicking seemed to work...
Posted by bond006 on :
it seems the volume has just stopped am i seeing this right?
Posted by 4Tune4Me on :
Didn't move between 12:19 and 14:15..then showed to trans 200K @ .0002.
Posted by 4Tune4Me on :
I've had a sell in at .0002 since yesterday, no takers...
Posted by bond006 on :
what do you think is up mm call for a pow wow
Posted by 4Tune4Me on :
Hopefully, there saying they milked this puppy for what it's worth and are willing to let it go, go, go....
Posted by bmaxingout on :
quote:Originally posted by 4Tune4Me: Didn't move between 12:19 and 14:15..then showed to trans 200K @ .0002.
wow thats only 40 bucks
Posted by 4Tune4Me on :
Correction: 2 trans @ 200K .0002
Posted by bond006 on :
no change in volume yet according to e trade
Posted by farmgirl on :
Maybe someone realizes the potential and that is all they have. It could also be a partial order. I show a couple 200K orders.
Posted by bond006 on :
is anybody in good with the guys at pal talk sometimes they get info we don't
Posted by bond006 on :
maybe ed the investor, and all of us beat the mm's at there own game
Posted by bmaxingout on :
now that was an interesting day wish they would halt trading so that we could get a share count
Posted by tongusc on :
does this stock ever gonna go beyoud the .0002 line?
Posted by 4Tune4Me on :
Used to be a .0003-.0005 consistently. It's only lately that .0001 -.0002 has become the norm.
Posted by imakmony2005 on :
MM TALKING, I THINK 20000 MEANS LET IT GO. NOT SURE ANYONE??
Posted by bond006 on :
ima i only know upto 500 but did somebody see a signal today or what do you think is up
Posted by maniladreamin on :
May 25 2005 IBAC Corporation is High Bidder for the Memphis Airport Ramada 5/25/2005 6:24:01 PM IBAC Corporation (PINK SHEETS:ICAN) today announced that the company was the successful high bidder for the 127 room Ramada Airport Hotel in Memphis, Tennessee (Two Miles From Elvis Presley's Graceland) along with a separate parcel that includes a free standing restaurant (5000 square feet) as one package, the winning bid was $1,725,000 plus auctioneer's fees to be paid in cash, the company will take possession on June 28, 2005.
"We are very excited about the addition of this Memphis property to our portfolio, the location and proximity to the Memphis airport and Graceland is simply wonderful along with being located only two hours from our Pine Bluff location it is a very manageable situation." Said Gary Becker President The Royal Arkansas Hotel & Suites
"I am very happy with the win at this auction as we were able to obtain a property that we coveted substantially below market value, we were determined to bring this prime property into our portfolio and we did, this property will add significant additional revenues and exposure in a major market." Edward W Hayter President IBAC Corporation
Posted by maniladreamin on :
sanibel restaurants are a subsidary of ICAN
SANIBEL RESTAURANTS
MC T'S SHRIMPHOUSE & TAVERN LISTING MAP 1523 PERIWINKLE WAY
ISLAND INN DINING ROOM LISTING MAP 3111 W GULF DR
JACARANDA (THE) LISTING MAP 1223 PERIWINKLE WAY
LIGHTHOUSE CAFE LISTING MAP 362 PERIWINKLE WAY
SEAFOOD FACTORY (THE) LISTING MAP 2499 PERIWINKLE WAY
SANIBEL STEAKHOUSE (THE) LISTING MAP 1473 PERIWINKLE WAY
SANCTUARY GOLF CLUB LISTING MAP 2801 WULFERT RD
SNACKERY (THE) LISTING MAP 2801 WOLFERT RD
TWILIGHT CAFE LISTING MAP 751 TARPON BAY RD
RIVIERA LISTING MAP 2761 W GULF DR
LA VIGNA ITALIAN REST & GRILL LISTING MAP 1625 PERIWINKLE WAY
DOLCE VITA LISTING MAP 1244 PERIWINKLE WAY
RESTAURANT NAVIGATION
Total Restaurants: 40
Pages: 1 2
Total Pages: 2
Posted by Earth_Shaker on :
2000 means MMs need shares. 2100 means LET IT RUN.
So the answer to the 2000 signal = I NEED SHARES.
Posted by noah129 on :
well i am curious as to what is going to happen today.my hopes is a pr with some meat to it.maybe one stating the retirement of a large number of shares.i wonder how many investors are in ican.im the only one that i know of besides you allstock players.
Posted by bmaxingout on :
yesterday i predicted a large volume day today i shut the hell up.,.....lol
Posted by Leardron on :
Here is an awesome Idea I thought of that Ed should do which would fix everything. This is just my brainstorming.
I would do a reverse merger of ICAN into a fully reporting stock. I would give everyone 1 share of the the new stock for 1000 shares of ICAN and have the share price of the new stock start at $1.00 pps. So if you have a Million shares now, you would end up with 1000 shares but at a $1.00 pps. Also this would drop the current O/S which it thought to be around 5 Billion shares down to 5 Million shares. With the current assets of the company you should easily be able to maintain the $1.00 pps. Also right off the bat you are giving the current share holders a nice gain if they want to sell right away. for example if you buy a million shares now it will cost you $200. The million shares become 1000 shares at $1.00 so now they are worth $1,000. You just made 500%. I think this scenerios makes everyone happy and maintains the new pps price.
Posted by WinsumLosesum on :
I make a motion that Leardron be the new CEO of IBAC Corporation.
Do I hear a second?
Posted by 4Tune4Me on :
No, you should be predicting a low pps day today!
Posted by Leardron on :
quote:Originally posted by WinsumLosesum: I make a motion that Leardron be the new CEO of IBAC Corporation.
Do I hear a second?
LOL, I only wish. Thanks for the vote of confidence though.
Posted by 4Tune4Me on :
GTEL, now GTE, just basically did that. In order to move from OTC to AMEX, they were required to present a substantially better pps as well audited financials, etc. They split 1:15 and made the move. They are currently trading at $3.28.
Posted by bond006 on :
just came on board i hope we all have a good day it was sure a different day yesturday. one thing i can say about ican it has been an interesting ride. it sure has kept my life interesting and involved. now all i want is to make a little money glta
Posted by noah129 on :
i second that leardon for ceo of ibac corporation.i normally dont like reverse merger or splits but in this case with all the uncertainties as to how many shares are being naked shorted this could put a huge kink in the market makers pockets forcing a giant short squeeze.this is all just my humble opinion but if we valued this company @ only 5 million dollars i think we are a bit crazy.i would love to see a one for a thousand reverse split that could eventually turn your lets say 1 million shares into 1000.i then think these new shares could go as high as 3-5$ per share.im absolutely amazed at the current pps with all that has happend with ibac these last 8 months.i am holding my 8 million for the long haul.please ed do something to help out us faithful longs.keep in mind that this is all just my poor hopeful thoughts and should be taken with a grain of salt.please dont buy on my actions do your own dd and learn who is a valuable member to get info from and who simply wants your shares at a cheaper price.
Posted by bond006 on :
well i hate to say it but if it keeps on this way ed may be forced to eat his words and do an r/s it could have a benifit to us and maybe we would have a better chance of seeing green and moving on to a higher pps also like getting us off the pinks just a thought imho
Posted by noah129 on :
i owned a while back cdvj which i pretty much gave up on.they did some sort of swap or sale of thier assets to btxi botaniex.i did not sell my shares but after the reverse merge or whatever happend the shares spiked to about 20 cents a share returning lots of money to those that continued to hold their shares of cdvj even though the company and ceo seemed like a total scam.i am still holding btxi a chinese herbal company.its down to only .04 cents but one day this stock may just go to 40 or 50 cents.im glad i held onto my cdvj and i am very excited to see what our future holds in ican.good luck to you all. sincerely noah.
Posted by Taterhead on :
quote:Originally posted by bond006: well i hate to say it but if it keeps on this way ed may be forced to eat his words and do an r/s it could have a benifit to us and maybe we would have a better chance of seeing green and moving on to a higher pps also like getting us off the pinks just a thought imho
If Ed does a R/S , the stock will be known as a scam.
Posted by Leardron on :
quote:Originally posted by Taterhead:
quote:Originally posted by bond006: well i hate to say it but if it keeps on this way ed may be forced to eat his words and do an r/s it could have a benifit to us and maybe we would have a better chance of seeing green and moving on to a higher pps also like getting us off the pinks just a thought imho
If Ed does a R/S , the stock will be known as a scam.
Yea, especially when he has been out in public forums saying absolutely no reverse splits.
Just an FYI and the reason I got to thinking about a reverse merger is because there is an investor that comes on Pal Talk that said he got his partner, that has 34 years experience with bringing companies up to the bigger exchanges and making them profitable, to talk with Ed about what he should do. The recommendation is to do a reverse merger. Now whether Ed listens to the guy or not I have no idea. Also, again this was just my scenerio, the partner didn't say what the terms of the reverse merger would be that he is recommending.
Posted by bond006 on :
another thought if he gave us all a cash dividend that would raise the pps and put the mm's in a bad position for a while. imho glad to get a response out of you guys you were pretty quite yesturday
Posted by bmaxingout on :
now lets look at a 500% gain that would be like going from .0001 to .0005 sorry but no way. i bought into the .03 pps that the buy out would have been for. a reverse split and ed is going to court. sorry jmho
Posted by Leardron on :
quote:Originally posted by bmaxingout: now lets look at a 500% gain that would be like going from .0001 to .0005 sorry but no way. i bought into the .03 pps that the buy out would have been for. a reverse split and ed is going to court. sorry jmho
actually when I was using the 500%, I was using .0002 as the base which would be like going from .0002 to .001 but I understand where you are coming from.
Posted by bmaxingout on :
people look at it this way at the current pps the entire a/s is now only worth 1.2 mill, the float at the worst is 6 bill thats 600,000 we have almost 5 mill in assets alone come on, dont cave now
Posted by bond006 on :
not caving in i hold for the long run if i did not think there was something here and if i did not believe in the company i would have bailed out a long time ago. plus the fact i am buying more all the time up to 15million shares now and my goal is 20million at these prices. glta if any body has any ideas or hears anything please post Posted by nyinvest on :
I see only 2 ways to look at ICAN. Legit or not. If they aren't, end of game and we already lost.
If they are legit, wait on some info by the end of the month. There really isn't anything to lose at this point by giving ICAN 2 weeks. By then, we should have some better numbers and hopefully a roadmap. If ICAN is what it claims to be, this short term weakness will be fixed.
I'm still buying. I've lost more before and will likely lose more again buy buying is the only chance to win.
Posted by bmaxingout on :
im giving them till november all has to be revealed then by law.
Posted by bond006 on :
well they are legit as to the assets the co owns. people have ate in the resturants slept in the hotles we have news paper articles to verify purchases. the only gripe i have ever heard from investors is the pps and that should be setteled buy the end of june one way or the other. i have a feeling we won't get hurt and we will be rewarded in the end.
Posted by farmgirl on :
With this many real assests I think the only way we can lose is complete mismanagement. I am sticking with it. GO ICAN
Posted by noah129 on :
bond006 i sure hope you are right.i like many others have lost lots in the past and will likely lose again but i also am holding on for this to unravel.i will hold on as long as it takes to either make a chunk or lost it all.my inpoint is somewhere around.00035 per share.i have 8 million that are not for sale and have been registered at the website someone posted for us regarding nss.i hope that all of us can one day meet eachother and laugh at "remember when we were at .0001-.0002". that will be the day .we shall drink the best of wine's in our restuarant and order primerib or a nice peice of fish for everyone and be merry and wealthy.it takes a dreamer to dream and those that dont dream dont have dreams come true.i know that sounds fluffy but thier is a bit of truth to those words all in my very humble opinion.
sincerely noah.
Posted by bond006 on :
noah the only way you can win is to get into the game. i don't know how it will end but on the asset side we are there.pps well i don't pretend to be an expert to say i know for sure.end of june we will find out a lot. let us all hope for the best glta
Posted by noah129 on :
yes i aggree with you all the way bond006.ive been in the game for about five years now and ive already lost enough to buy both my parents a nice house.oh well i still intend on retiring before im thirty so we shall see.im currently 25 years old and i love micro penny's and i have gained alot of patience these last couple of years im willing to ride one out that is the way to make fortunes.you have to be able to hold onto your shares for a real run up.not just a two day run where you could double or triple your money.im talking about taking a stock like ican up from .0002 to .01-.02 or taking for instance qbid from current levels of .0018 to .10.i intend on holding many of my positions until they are very ripe and always holding onto 100k just to see what happens.best of luck to you bond006 and many others by the way how old are most of you that i chit chat with just a curious young cat hehehe.
Posted by bond006 on :
noah i am 56 years old and been doing this off and on in my life since iwas was 25years old sorry to say i have had some very bad experiences too i am still waiting for that huge big hit that will put me in paradise in my golden years
Posted by bmaxingout on :
see now we are being up beat again ican will rise it might just take a little longer then we had hoped .03 or bust,.....lol
Posted by ya ya on :
I agree with you Bond006,I have been in this for a while and been mostly painful.I think we are all dreamers and believe we will hit the big one some day.Most of us won't but the idea of a stock going from .0001 to .01 is certainly a rush and keeps us going.We would all love to have a TASR stock when it was real low and went up big time with a couple of forward splits - now thats heaven - but in the real world that's one in a thousand or more.So with that being said i will stay in ICAN for the long term hoping they will go way up but in reality just hoping it doesn't revearse split on it's way up.When we stop dreaming we stop living.
Posted by noah129 on :
well said yaya
Posted by bond006 on :
thank you ya ya well said and a comfort
Posted by ya ya on :
Your welcome - All it takes is some good earnings.
Posted by farmgirl on :
Where is the volume today. I am only showing 70Mil
Posted by nyinvest on :
Boy, they jumped on my 2M @ .0002.
At least they aren't dead.
Posted by farmgirl on :
buy or sell
Posted by nyinvest on :
Bought 2M @ .0002. Executed as fast as my screen refreshed.
Sitting on a pair of 10M buy orders @ .0001 that won't go and a 20M sell @ .0002 that won't either.
Posted by WinsumLosesum on :
Filled Buy 2000000 ICAN Limit 0.0001 13:17:29
Well, how 'bout that? I just noticed it.
Posted by nyinvest on :
I just had one of the 10M orders fill too. Volume jumped.
Just noticed that I am actually in the green at .0002 now.
Posted by Leardron on :
Must be nice. I have had an order in since this morning and it didn't fill.
Posted by bmaxingout on :
ive had a sell @ .0002 for two days now and nothing
good for you ny
Posted by nyinvest on :
I can't sell anything at .0002 so what good is buying at .0001 ?
Posted by nyinvest on :
There goes another one of my buys @ .0001...........
Posted by TraderTom on :
More of these big blocks coming in at 0.0001 - two 50M and one 100M.
Posted by nyinvest on :
I have just one more 10M buy order left and then I am done. Will have reached my limit on this thing. Then it will be sit back, cross my fingers and wait.
Posted by Leardron on :
Anyone have level II on this. Curious to see what the MM line up is right now. How many at .0001 and how many at .0002.
Posted by TraderTom on :
Just got another 3M filled at 0.0001.
Posted by farmgirl on :
Did they just hold sells and buys until the last hour of the day? Volume sure seemed low earlier and it is huge now.
Posted by 4Tune4Me on :
They catch up on numbers after closing.
Posted by bmaxingout on :
wow pretty slow day today
Posted by going for gold on :
i'm just waiting on the news of ed,concerning the gag,normally next week
Posted by 4Tune4Me on :
Paints drying....
Posted by Durple on :
I sold 15mil at .0001 today took it in like 3 minutes
Posted by going for gold on :
why selling at 0.0001 doesn't make sense to me,how can you make a profit Posted by nyinvest on :
That's also 15 of the 22M+ reported so far today.
Hard to believe this thing traded 1.4B or so shares on Monday.
Posted by Leardron on :
quote:Originally posted by Durple: I sold 15mil at .0001 today took it in like 3 minutes
Just curious why you sold? Just wanted to get into something else?
Posted by bmaxingout on :
i think that the ticker is stuck again
we really need to fix the darn thing,.....lol
Posted by bmaxingout on :
quote:Originally posted by Leardron:
quote:Originally posted by Durple: I sold 15mil at .0001 today took it in like 3 minutes
Just curious why you sold? Just wanted to get into something else?
well swingers dont like to hold anything for very long jmho
Posted by 4Tune4Me on :
Alls I know is that it didn't trade this poorly before the increase in company assets.
Posted by Leardron on :
The problem right now is there is hardly any new investors coming into this. If Ed keeps his word and ungags the TA at the end of the month then we should see some new interest.
Posted by TraderTom on :
I agree - with no news, pretty much everyone wants to buy at 0.0001 and sell at 0.0002 right now, which is a 100% spread!
I like the idea of a reverse merger. While we're waiting for the paint dry, we can read up on how reverse mergers work:
Sounds like a great & fast way for ICAN to get of the pinkies ...
Posted by mikensay on :
Leardron,
You've put out quite a bit of great information and perspective. Thanks. I know others have as well and this doesn't mean anyone should slack on their DD but I appreciate your posts.
Thanks!
Posted by TraderTom on :
Let's look at the positive side - at least we have extremely solid support at 0.0001 Posted by nyinvest on :
I think, that at this point, nobody is quite sure what to make of this cat.
My first thought on what is now happeing is that ICAN effectively called the MMs to the mat with the NSS/get certificates thing. MMs probably don't like anyone else messing around with their sandbox and figured they would teach ICAN a thing or two about who really controls a stock. The MMs hit ICAN and did what they can, drop the PPS and drive people away. Now, everyone is trying to figure out whats next. I'm not sure anyone really has the right answer.
My feeling is that Ed should stick to his schedule and do exactly what he said he would when he said he would. Reacting to the daily price only helps to fuel speculation that he has something to do with what is happening and is trying to manipulate the PPS. I don't believe that a company should deal with the daily PPS of their stock. It follows the trade/invest argument. If you are trading your company, yes, watch that price daily and try to influence it. If you are investing in your company, don't ignore your PPS, but watch it. If the company is good and proves it, the PPS will climb proportionally. In this case, I think that working on the PPS now rather than the company as a whole is like jumping over dollars to grab pennies. Let the pennies fall through the grates for now, the dollars will make up for them all later.
I think a R/S is in the future at some point. Maybe if ICAN jumps off the pinks, that will be a good time. Some sort of action in the near future, if thought out carefully, to deal with possible NSS might be a valid option.
I'm betting (betting being the operative word) that ICAN is for real and this stock will climb. I'm only hoping for .03 in the next 6-12 months at these A/S levels but I think it could have a lot more in time.
I've talked too much, so I'll stop now.
Have a good weekend everyone.
Posted by TraderTom on :
Great post, nyinvest, I completely agree with you. IMHO, ICAN just has to too many real assets to be a flake.
If Ed was interested in screwing us out of our money, there are many well-proven get-rich-quick schemes around - just claim you patented a cure for cancer or found zillion tons of diamonds in the Peruvian jungle. Just pick something that sounds sexy and that nobody can verify. In comparison, building a viable hotel and restaurant business requires a lot of hard work.
Posted by bmaxingout on :
[QUOTE]Originally posted by TraderTom: [QB] I agree - with no news, pretty much everyone wants to buy at 0.0001 and sell at 0.0002 right now, which is a 100% spread!
I like the idea of a reverse merger. While we're waiting for the paint dry, we can read up on how reverse mergers work:
i dont understand how a reverse merger never mind a reverse split would help ICAN what we need is for ed to start reporting,reduce the o/s and be streight with the share holders. these are the things that will get us out of the pinks. Now please dont get me wrong Ed has done a great job at bringing us some real assets.Now we also need to remember that it is OUR money that has paid for these assets.Its not Eds money its not icans money its is our hard earned cash that pays ed salery
If we were to say reverse split we would never get our money back that we have entrusted Ed with. lets look at a 1:100 rs look at your account and then divide that by 100 see what i mean.Some say that the pps would rise I say no way how would anyone pay into ican if our ceo proved himself to be a liar.He has said time and time again that he would in no way do a rs. And i beleive him. now lets flip the coin and look at it this way, if ed sold say 3.5 billion shares @.0004-.0009 and then bought the float back @.0001-.0002 the not only would the pps rise but ed would look like a hero to the investing community. after buying back the float or at least the major portion of it , he starts reporting.BOOM pps hits the .03 roof please lets stop even talking about a rs it is no good for anyone except the MMs.we need to hold the ceo accountable to the shareholders
i dont want want to sound like a poor sport but ed is the one that turned down a buyout for .03 pershare he is accountable to bring us that price period.and that my freinds is the law. and that is the reason that he could not bring this company private.he doesnt have the money too pay us off.
ed is on public record saying that we had a buyout offer and that he turned it down because HE thought that ican was worth alot more than that. It is time for our ceo to put OUR money where his mouth is.
Posted by TraderTom on :
I also don't want a R/S while we're on the pinkies. Perhaps the ideal path for ICAN would be like this:
1 - buy back enough shares at 0.0001 or 0.0002 to reduce the float dramatically. Then announce the float. The PPS should shoot up.
2 - next, do a reverse merger with a clean shell company to get on a different exchange. The reverse merger may be easier and quicker than having to do years and years worth of back-auditing of the existing ICAN. The PPS should shoot up more, since we're moving off the pink sheets.
Posted by shgray on :
quote:Originally posted by TraderTom: I also don't want a R/S while we're on the pinkies. Perhaps the ideal path for ICAN would be like this:
1 - buy back enough shares at 0.0001 or 0.0002 to reduce the float dramatically. Then announce the float. The PPS should shoot up.
2 - next, do a reverse merger with a clean shell company to get on a different exchange. The reverse merger may be easier and quicker than having to do years and years worth of back-auditing of the existing ICAN. The PPS should shoot up more, since we're moving off the pink sheets.
I rarely post, but isn't a reverse merger when a private company is consumed by a public company and the public company retains it's name, so if ICAN were to "reverse merge" which i dont even think is the right term, i just think MERG with another company and ICAN's name is lost and consumed by the bigger publicly held company then our shares will be changed into the new company...which is the same as a buyout or another company buying ican, we loose the company and get a new one...am i wrong i think im right. Either way, i just want to make 6 figures off this so im in till i loose my money ahah or gain a crap load, GO ICAN< and pray for UNITED FOR ME ahaha im banking on united getting outta bankruptcy ahah...WOOHOO..
Posted by bmaxingout on :
shgray, I beleive that you are right on the fact that a reverse merger would mean that we would have to be "consumed"by a larger company.At least in my understanding of how a reverse merger would work. but a take over from another company "could" happen, after all at the current pps the entire float assuming it is 6 billion is only worth 600,000$-1.2 million @.0001-.0002 ican is holding 4-5 million in assets.sounds like a money maker to me.
bmax,
Posted by bmaxingout on :
quote:Originally posted by TraderTom: I also don't want a R/S while we're on the pinkies. Perhaps the ideal path for ICAN would be like this:
1 - buy back enough shares at 0.0001 or 0.0002 to reduce the float dramatically. Then announce the float. The PPS should shoot up.
2 - next, do a reverse merger with a clean shell company to get on a different exchange. The reverse merger may be easier and quicker than having to do years and years worth of back-auditing of the existing ICAN. The PPS should shoot up more, since we're moving off the pink sheets.
tradertom, i agree with you 100% on on point #1 but on point #2 ican has been in buisness for less then 9 months a good accountant could have the books clean and ready for report in less then a week. This is the reason that upsets me with ed.The process for being fully reporting does not take that long. So I for one, cant understand what the hold up is.
bmax,
Posted by nyinvest on :
quote:Originally posted by bmaxingout: ...it is OUR money that has paid for these assets.Its not Eds money its not icans money its is our hard earned cash that pays ed salery...
I'm going to have to disagree with this. Purchasing stock doesn't provide enough for the company to buy all the assets and the company only receives money from stock when it sells it to the market. Thereafter the sales dont accrue to the company. There is no recurring source of income for Ed's salary. He has to derive his income from within the company. Shareholders don't provide any ongoing financial support to a company. If anything, shareholders become a drain on a company.
As for auditing, a full audit can easily take more than a week. There is more than just adding up some numbers and having someone say they are correct. The last 2 companies I worked with took the better part of 6 months to clear up a years worth of financials to comply with reporting. It's much more quick after the first time.
Posted by bmaxingout on :
ny i agree but without the shareholders that invested their money into the company there would be no ican. now the company has only been doing business for nine months.Ed is a smart guy and i think that he has more then likely kept things up to date. So all im saying is that it should not take all that much to become fully reporting. what upsets me is when our ceo doesnt do what he says he would do.
Posted by going for gold on :
hallo everybody,so not that much volume so far Hope that ed will make a statement on the gag this week
Posted by bmaxingout on :
if ed does in fact remove the gag we could see some real good pop glta
Posted by noah129 on :
anyone getting filled @ .0001 today?
Posted by bmaxingout on :
yawn
Posted by easy_b on :
quote:Originally posted by bmaxingout: yawn
Co-sign
But i am still holding my Ican Stocks
Posted by bmaxingout on :
im also still holding at least till the end of the month when ed ungags the ta and we all become rich
Posted by tongusc on :
A reverse merger is a simplified, fast-track method by which a private company can become a public company. A reverse merger occurs when a public company that has no business and usually limited assets acquires a private company with a viable business. The private company "reverse merges" into the already public company, which now becomes an entirely new operating entity and generally changes name to reflect the newly merged company's business. Reverse mergers are also commonly referred to as reverse takeovers, or RTO's.
Going public (in any way) is attractive to companies because after going public, the company can use its stock as currency to finance acquisitions and attract quality management; capital is easier to raise as investors now have a clearly defined exit strategy; and insiders can create significant wealth if they perform.
The reverse merger is an alternative to the traditional IPO (initial public offering) as a method for going public. Many people don't Advertisement
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The RTO (reverse take over) method for going public has numerous benefits for the private company when compared to the traditional IPO:
Initial costs are much lower and excessive investment banking fees are avoided. The time frame for becoming public is considerably shorter. There are also several disadvantages of going public through the RTO as compared to an IPO:
There is no capital raised in conjunction with going public. There is limited sponsorship for the stock. There is no high powered Wall Street Investment Banking relationship. The stock generally trades on a low exposure exchange. Many highly successful companies have become public through the RTO process. However, there some important negatives investors should be aware of.
There is a much higher failure rate amongst RTO companies versus the traditional IPO. Much smaller and less successful companies are able to become public through the RTO, and many are badly undercapitalized. Often these stocks trade very inefficiently in the absence of any sponsorship or following.
There is a cottage industry of merchant bankers and entrepreneurs who specialize in orchestrating reverse mergers. Unfortunately, there are no barriers to entry in this field. Therefore, scams are common place.
Through various methods, scam artists manage to accumulate large positions in the free trading shares of the shell company. An RTO is consummated with a marginal private company, and the scam artists put together a massive publicity campaign designed to create activity in the stock. Unrealistic promises and absurd claims of corporate performance find their way to the public. The enhanced trading volume allows the scam artist to dump his shares on the unsuspecting public, most of whom eventually lose their money once the newly formed public company fails. This scam is commonly known as a "Pump and Dump".
Alternatively there a hundreds of examples of highly successful companies which have yielded millions in profits for investors that have gone public through the RTO. Many of these companies deserve exposure to investors. Initial valuations can be reasonable, providing excellent opportunities for individual investors to accumulate positions ahead of Wall Street institutional money.
Here are some high-profile and successful RTOs:
Armand Hammer, world renowned oil magnate and industrialist, is generally credited with having invented the "Reverse Merger". In the 1950s, Hammer invested in a shell company into which he merged multi decade winner Occidental Petroleum. In 1970 Ted Turner completed a reverse merger with Rice Broadcasting, which went on to become Turner Broadcasting. In 1996, Muriel Siebert, renown as the first woman member of the New York Stock Exchange, took her brokerage firm public by reverse merging with J. Michaels, a defunct Brooklyn Furniture company. One of the Dot Com fallen Angels, Rare Medium (RRRR), merged with a lackluster refrigeration company and changed the entire business. This was a $2 stock in 1998 which found its way over $90 in 2000. Acclaim Entertainment (AKLM) merged into non operating Tele-Communications Inc in 1994.
Posted by imakmony2005 on :
boring...
Posted by bmaxingout on :
hi all i was reading a post on rb and thought some might like this info.this is from a shareholder that gets the chance to speak with ed i hope that the auther doesnt mind.
"Mosdef, he hasn't told me anything in specific but has promised that the T/A would be ungagged after the closing of the Memphis hotel. Don't ask me what one has to do with the other, I couldn't even imagine. He has said that the closing of the Sanibel in Bonita Springs will be the 15th of August and there are other things in the works, but he didn't elude to what they were. All he said was that there are negotations that are on going. Nothing more. A couple of other things he did mention: that he should be getting the noble list within the next week or two. He also stated where do the shareholders think the money came from for the purchase of the property in Memphis. He has stated that it is his money he is putting up. He has said he hasn't been dumping because he is the biggest shareholder and it does him no good to have the pps at these levels. The one reason I think he is willing to hold civil conversations with me is that I never call up yelling, screaming or bitching at him. He has complained to me many times that most shareholders call and start yelling at him off the bat. I simply try and stay civil. Also we talk about other things besides the business like sports. I have learned that the old adage is true, you catch more flys with honey than with vinegar. Look I am not happy with where the PPS is at this point in time. I have invested at all levels including the high of .0009. My average is over .0004 right now. If I would have known the pps was going to be this low again, then I would have waited and bought in at these levels. Do I still have faith in the company, yes. I will tell you why; Ed has a plan (maybe not the most perfect one) but he does have a business plan. He will have added the Memphis hotel as of the 27th of June. It is an on going operation. It is a turn key operation that is fully functional at this time. There is a restaurant on the same property that will be converted to a Sanibel Steakhouse. Hopefully that means more revenue for the company. If he does release the gag on the T/A and can show there is a Nake Short then we might have a chance at a nice run. Could I lose all my money-yes, but I am a gambler at heart and willing to take that chance. Seriously, if you can pick up shares at .0001, why wouldn't you. JMHO though."
Posted by Rags2BetahRags on :
SOLD!!!!
I'm out of this one. Its just a choice I made after sitting and waiting and after trying to book the hotel and conference center and no replies to myself or my associates. I then proceeded by sending a property which would benefit the ICAN shareholders that I came across in my travels of a hotel 200 rooms and franchised resteraunt in it for the next 2 years. It is generating 1.5M a year gross and the owners would finance if qualified buyer. I got nothing back from them at all. That says enough to me to get my money and go to the next one. Good luck to you all and hope for the best for you.
Posted by ACKCANE on :
Which hotel did you try to book?
Posted by NomarKash on :
Big day, less than $100 traded so far!
Posted by noah129 on :
AM I A BAG HOLDER? HEHEHE not sure really but i have 8 million at a much higher price and sorta feeling like maybe i got worked again.oh well.im a gambler as well so im holding onto my shares and trying to add a couple mil more at .0001.still no fill ill post if i get a fill not sure though if anyone really cares.
Posted by Doctoall on :
Noah I am still here and waiting for better days with this one Posted by nyinvest on :
Some assorted thoughts:
I can understand no PRs and Ed not wanting to talk to shareholders. Bmaxingout's excerpt sort of supports this. If every time you put out a PR, shareholders were hassling you (and I have heard stories of hassling anyone mentioned to be associated with ICAN) I wouldn't be saying much anymore, either.
I think I would like to see a R/S. There isn't anything fundamentally wrong with a R/S. The problems arise when a company can't support the R/S price. Say ICAN did a 1:1000 reverse. The new price would be between .10 and .20. If the company can't support this price then it falls and you have a pre-split price that is sub .0001.I think ICAN could support this price if it wasn't cornered with the MMs on the pinks.
This thought is way out there, fairly baseless and more a question. Is there a quiet period involved with moving off the pinks to a different exchange? I remember having blackout periods for one of my companies but it's not exactly the same thing.
As for the company, I didn't gather much information, but wasn't there a verbal offer for the restaurants somewhere in the neighborhood of $8M a few months back? This may have been nothing more than talk. If I was going to buy an asset of a company for $8M, why not buy as much of the entire company as possible? $8M would theoretically buy 12B shares at about .0007 which is a premium to today's price.
As for Ed, I don't know the man. I've only a little research and a lot of rumors to go on. I can't imagine that ICAN is a complete sham unless all the assets are tainted or misrepresented. That would be a big reach for someone, especially in this day of ambulance chasing security lawyers.
Under the stock dumping category, I really don't get it. Why dump stock at these levels? It makes no sense unless there isn't anything substantial to ICAN. Dump 5B shares, you have what? $1M? That doesn't even buy the latest asset of the company. Doesn't make sense to legally expose yourself for $1M. It's pocket change.
I'll just sit here and wait with my shares until I get some real info on what's going on. The risk/reward ratio is still positive for me. I'm in cheap compared to many so I can afford to be optomistic and I understand that. I am still working on the premise that if the PPS reflects the value of the company and assets in the least bit, there will be some very happy shareholders in the future.
Posted by bond006 on :
me to noah i am in this .0005 and holding 15 million / can't seem to get filled at .0001 would like to bring my average down.
Posted by NomarKash on :
quote:Originally posted by nyinvest: Some assorted thoughts:
I'm in cheap compared to many so I can afford to be optomistic and I understand that.
I thought you had a ton of shares.
Posted by bmaxingout on :
nomar, I beleive that ny has been buying his shares at .0001-.0002 so in that he would be in for cheap money.(wish i was,...lol)
ny, I also beleive that ican is a great company but i sure hope that we dont see a reverse split.What I'm hopeing for is that ed has bought a very large portion of the o/s,ungages the ta to prove that the o/s is somewhere around 2 bill. And then become fully reporting. see a rs would sound to most of us that have been buying ican from the begining like a scam. I think that Ed will do the right thing it just might take a little longer then I had hoped for. GLTA
bmax,
Posted by Mack on :
anyone get any shares @ .0001
Posted by nyinvest on :
quote:Originally posted by NomarKash: I thought you had a ton of shares.
I do have a good sized position, but my average PPS is under .0002.
Posted by nyinvest on :
quote:Originally posted by bmaxingout: ...see a rs would sound to most of us that have been buying ican from the begining like a scam...
That would be the beauty of it, assuming that ICAN is legit. Shake out the traders and reward the faithful.
So hey, what can I say, I like to dream.....
Posted by bmaxingout on :
here is a better way to reward the faithful buy back the float minus say one million shares call a div for around .01-.02 per share and break the backs of the mm's and brokers that shorted us. you would bet that they wouldnt mess with ican again.investors would be singing hail ed long live ed,....lol
now that would be a dream come true
Posted by farmgirl on :
Is anyone still buying today? If so at what?
Posted by ya ya on :
I am still holding this.With all the hype it's starting to sound like the qbid thread.I hope this goes up soon because with these kind of stocks the longer it lingers around .0001 the more likely it willl R/S.with the O/S in the billions.
Posted by Mack on :
i bought more @ .0001 today
Posted by bond006 on :
i remember when i brought up the possibility of an r/s snd it would not be all that bad i was sure atacked
Posted by noah129 on :
well folks been out all day and came back to see that my order for another 2 million shares filled.im currently holding 10 million at about .0003 per share.not too bad but this stock has sure been dissapointing for me.ive had to buy it so many times to get to a decent inpoint and i dont know if ill ever get any reward for holding this.i still have a bit of faith in it other wise i wouldnt be still buying it up.i will continue to buy only @ .0001 or avg up if i see this maybe breaking out one day.best of luck to you all and lets just hope for better days ahead.
i think ican ,i think ican ..........
Posted by bmaxingout on :
noah the 29th is right around the corner hopefully we will win
bmax
Posted by Mack on :
106m already
Posted by farmgirl on :
130 million in less then 1/2 hour.
Posted by noah129 on :
anyone have the level 2 line up please?
im putting in another order for 4 million shares @.0001.most of the time i buy a stock at .0001 i get screwed but im willing to take a chance again.best of luck to all of us ibacians hehehe.go ican.
Posted by obey on :
has anybody been sucessfully trading back and force @ .0001 and .0002 making profit?
Posted by noah129 on :
i personnally have not bought at .0001 and sold any at .0002.i did purchase more at .0001 yesterday but i dont have a sell order in for any of my ten million shares.im holding on for .001.then i may liquidate a small portion and keep the rest for the long hual.i leave this one to fait.if i am a bagholder so be it .if i am a patient person who will be rewarded well then may this happen .best of luck to you all.
sincerely noah.
Posted by amanick on :
Ican run away from this real quick but have to many shares.
Posted by mikensay on :
Volume is good, but there seems to be a lack of information on what's going on. Is everyone just waiting for the end of the month?
Posted by obey on :
is this stock ever gonna go over .0002?
Posted by g-invest on :
WOOHOO! Whose buying in for the upcoming reverse-split? Looks like it'll split sometime around the end of July when the CEO hits the limit on the number of authorized shares they have.
Then we can do a reverse split and start it all over again!
Posted by bond006 on :
whoes buying i wish i was can't get bought at .0001 been sitting there for days
Posted by stockaholic on :
I just got 1.7 today at .0001 bond
Posted by going for gold on :
reverse-split,i hate everyone who just even mention the word.Not such a thing coming so no need to talk about ,if,when or how. Posted by bond006 on :
i guess i should move out of e trade
Posted by bond006 on :
think nothing of ehat is posted by a basher
Posted by bond006 on :
hey i got my first .0001 order at the close today yahoooooooo!
Posted by mikensay on :
quote:Originally posted by bond006: hey i got my first .0001 order at the close today yahoooooooo!
Congrats, I think. It's good for your per share cost but I'd much rather see the price bounce. I'm sure you would too.
Any news on Ed?
Posted by TraderTom on :
Volume was over 600 million shares in the last 1/2 hour .. who's selling and who's buying, that's the question
Posted by Allen on :
Has anyone noticed that the TA is ungagged? AUTHORIZED SHARES AS OF 6/20/05 12,200,000,000 http://www.ibaccorp.com/corporate-info.php I know this sounds bad, but how bad is it? With this number of shared the company still seems undervalued only being worth just over 1 million.
Posted by Runamuck on :
A/S cool whats the O/S??
Posted by TraderTom on :
I'm reposting a PR from a month ago. It spells out that the A/S was going to be reduced to 12 Billion shares, so this is expected. Also, accidentally, the PR clearly stated that a R/S is not part of the business plan.
IBAC Corporation Completes Restructuring of Common Stock
NEW YORK, May 12, 2005 (BUSINESS WIRE) -- IBAC Corporation (OTC.PK:ICAN) announces that its Board of Directors has now approved a restructuring of its authorized common shares from 20,000,000,000 to 12,000,000,000 effective immediately, the certificate of amendment has been filed with the State of Delaware by corporate counsel. This is a significant reduction of the authorized common shares by the company as we continue to seek ways to enhance shareholder value during these trying market conditions, without limiting the company's ability to complete certain pending and ongoing negotiations of additional acquisitions.
The company has had several shareholder comments regarding a reverse split and the pending 15% dividend payment, the company has no plans of a reverse split as this is not in our business plan going forward, secondly the 15% dividend is payable May 15, 2005 as this date falls on a Sunday the payment will be made on Monday May 16, 2005.
Regarding existing share buyback's previously announced Mr. Hayter's buyback for his personal portfolio is nearly completed, and the company buyback will start within the next two weeks of up too 300 million common shares.
The company has also filed an amendment regarding the company's name, an error in the company name was discovered, the error was IBAC Corporation Inc. and was corrected to IBAC Corporation and filed with the State of Delaware by corporate counsel.
Edward W. Hayter, IBAC's President and CEO, commented, "Significant growth and improvements in IBAC's overall businesses and general direction enabled us to successfully complete this sizable reduction in authorized common shares. By and through this share reduction we are working to enhance existing stockholder valuations and strengthen our earnings per share results as we continue to believe our company is severely undervalued and will explore all means possible to correct our valuation."
"As our business continues to grow and develop we will continue exploring additional future reductions in shares outstanding, including possible additional stock buyback's, to further enhance our stockholders' levels of ownership and valuations," added Mr. Hayter.
Posted by imakmony2005 on :
got more at .0001 now we wait.
Posted by ACKCANE on :
Stupid question . . . How does one reduce the shares from 20 Billion to 12 Billion?
Posted by noah129 on :
i picked up another 4 million today @.0001.i was happy to reduce my share cost basis but also dissapointed in the fact that if they are filling me at .0001 it could be quite a while before they would be buying for .0002.not that i would sell any at .0002 anyway but it just seems like we maybe here for a while like prrm.i hate to mention the two stocks together but i own quite a bit of prrm and barely even watch it becuase it is so dead.anyway best of luck to you all.im sitting on 14,000,000 shares and counting and i hope ican one day cash out a nice little sum for my patience in this stock.
Posted by TraderTom on :
quote:Originally posted by ACKCANE: Stupid question . . . How does one reduce the shares from 20 Billion to 12 Billion?
Ackane: The 12 / 20 Billion are Authorized shares (A/S), which is the maximum number of shares that a company can issue. What you really have to worry about is the the number of Outstanding Shares (O/S), which is the number of shares that a company actually issued. For ICAN, they were able to reduce the Authorized Shares number from 20 billion to 12 billion a month ago because the Outstanding shares were less than 12 billion. This was still a good move because it reduced the number of shares they could possibly issue.
[ June 23, 2005, 03:36: Message edited by: TraderTom ]
Posted by nyinvest on :
Maybe today something interesting will happen.
Posted by stockaholic on :
Don't hold your breath. I'm just hoping for an end of month miracle ungagging...or anything that's not an SEC halt.
Posted by bond006 on :
end of the month is near anythoughts on all the end of month speculation at this time
Posted by NomarKash on :
quote:Originally posted by nyinvest: Maybe today something interesting will happen.
Well, it's up 100% today, can you guys believe it?
Posted by nyinvest on :
quote:Originally posted by NomarKash:
quote:Originally posted by nyinvest: Maybe today something interesting will happen.
Well, it's up 100% today, can you guys believe it?
And we are only one tick away from being up 200%!!
Posted by stockaholic on :
quote:Originally posted by bond006: end of the month is near anythoughts on all the end of month speculation at this time
Nobody has a clue...just have to wait it out at this point. I'm still optimistic though. Just don't understand how a company with these kinds of assets (and they aren't just on paper, they are real) could be going anywhere but up soon after this O/S situatin is taken care of. They issued dividends in the form of more shares, they are way undervalued (that's a fact with just one of their properties), they announce an increased buyback plan to 750 million on the open market to be completed by Sept. 30th, 2005, they had better than expected May revenues, the PR's have been all good, etc... I just don't know. Call me naive but I believe ED is trying his best to make this right and take the company into the right direction. He may not even care about us but as long as the company is growing, doing well, and expanding their brands, the stock will not be here forever. The only thing I'm worried about is the NSS is so bad that they call a halt. Hoping for the best like everyone else.
Posted by nyinvest on :
quote:Originally posted by stockaholic: ...He may not even care about us...
From the rumored amount of crap that "shareholders" have dumped on him, I wouldn't blame him.
Posted by bmaxingout on :
well, we seem to be holding steady on the up tick maybe it will be a good day
Posted by Mike White on :
I hope it is not NSS. I was reading a great website about NSS and "cellar boxing" on the website
This was really informative. I was unaware how much fraud is allowed to take place when NSS are sold. From what I have read they will never cover the NSS and they will drive the stock to the ground.
I really hope this is not the case and I am holding 20,000,000 at an average of .00016 Good luck to everyone! All I have to say is it cant go much lower than this
This company does seem to be a great one!
Posted by mikensay on :
Good article. So if Ed ungags the O/S shares will the NSS still exist. And if not how does everything get cleaned up to allow the price to rise??
Posted by NomarKash on :
Whoa, did ICAN just fall below .0001?
Posted by bond006 on :
well in for a penny in for a pound i just picked up 3million more at .0001 when it gets this easy for me to buy at that price for the last 2 days after struggling for a week something is up caal it simple insite if you wish. you know after share retirement,buy backs,and increase in assets,it is hard to believe that the pps is where it is. if it is not dilution,nss no wonder ed is in a bad mood low pps stops us from growing to.
Posted by TraderTom on :
Anybody else gets "0.00000" for the bid and the last trade?
Posted by NomarKash on :
quote:Originally posted by TraderTom: Anybody else gets "0.00000" for the bid and the last trade?
Yup!
Posted by bond006 on :
my god
Posted by stockaholic on :
Geez....that's an ugly sight when it goes to zero. Damn, we need some answers badly.
Posted by stockaholic on :
What's a 5000 signal supposed to be? We're all f***ed? LOL!
Posted by mikensay on :
Its on the mat and the count has started. We need something from ED
Posted by bond006 on :
ed you have to come out of slience asap. and say something about what is going on
Posted by bond006 on :
leardron what is talk on pal talk some of those people talk to ed have you heard anything?
Posted by mikensay on :
quote:Originally posted by bond006: leardron what is talk on pal talk some of those people talk to ed have you heard anything?
He has been here since last Friday.
Posted by bmaxingout on :
wtf is going on, come on ed help us here
Posted by Leardron on :
quote:Originally posted by bond006: leardron what is talk on pal talk some of those people talk to ed have you heard anything?
VAB cowboy was on earlier and bascially said he talked to Ed and all he said that Ed said was it isn't him selling and that he is really sick of the situation and that he is still planning on ungaging the TA after close on the 29th. Basically the same old crap. We have pretty much reserved ourselves to the fact that we are taking Ed to court if he doesn't come clean by the end of the month. We are getting fed alot of crap by either Ed or the MMs. At this point with no bid, we really don't have a choice but to hold.
Posted by bmaxingout on :
.00005x a/s=600,000 b u l l s h i t ed better say something very fkn fast
Posted by ya ya on :
Usually means the kiss of death when you see the 00's.I wouldn't be suprised if we came in one morning and saw the old dreaded REVERSE SPLIT.So we can cry to Ed and say you promised you wouldn't do a R/S.That's just life in sub-penny land.So keep on buying millions of shares of this when theres other companies you can actually make some money on.
Posted by bmaxingout on :
quote:Originally posted by Leardron:
quote:Originally posted by bond006: leardron what is talk on pal talk some of those people talk to ed have you heard anything?
VAB cowboy was on earlier and bascially said he talked to Ed and all he said that Ed said was it isn't him selling and that he is really sick of the situation and that he is still planning on ungaging the TA after close on the 29th. Basically the same old crap. We have pretty much reserved ourselves to the fact that we are taking Ed to court if he doesn't come clean by the end of the month. We are getting fed alot of crap by either Ed or the MMs. At this point with no bid, we really don't have a choice but to hold.
ican is a good company Ed is a p.o.s. sue his ass
Posted by mikensay on :
I like to think that people are inherently good, Ed as well, but look where that got me. I can only imagine that things will look much better after the O/S is ungagged, just wish Ed would make it sooner than later. Good luck to all. I can't watch this anymore I'm sick.
Posted by Leardron on :
quote:Originally posted by mikensay: I like to think that people are inherently good, Ed as well, but look where that got me. I can only imagine that things will look much better after the O/S is ungagged, just wish Ed would make it sooner than later. Good luck to all. I can't watch this anymore I'm sick.
All I can say is if I can ever get my money back from this mess, this will be my last pink sheet I ever get into.
Posted by bond006 on :
as william bendix said on the life of riely what a revolting developement this is ric pic started this thread and he said he and a partner had some 254million shares i wonder what he has to say about this mess
Posted by ya ya on :
Good grief people,Get a grip - oh whaaa whaaa.Enough already its microcap stocks.We all wanted this to go sky high and all be rich.Can i just ad my 2 cents worth.We didn't hit the lucky numbers.We can all try to sue but most of US knows how risky these stocks are and thats just the way it is.So lets all try to take a deep breath and say WE ARE NOT IN KANSAS ANYMORE and buy a profitable stock.
Posted by bond006 on :
well if a r/s is coming and i mysel have went thru a few. they are not pleasent. but the ones i went thru in the past the ceo was never on a soap box saying never under his watch. if there is to be one.
Posted by bmaxingout on :
hey ya ya
F U C K Y O U
Posted by Leardron on :
quote:Originally posted by ya ya: Good grief people,Get a grip - oh whaaa whaaa.Enough already its microcap stocks.We all wanted this to go sky high and all be rich.Can i just ad my 2 cents worth.We didn't hit the lucky numbers.We can all try to sue but most of US knows how risky these stocks are and thats just the way it is.So lets all try to take a deep breath and say WE ARE NOT IN KANSAS ANYMORE and buy a profitable stock.
I agree with the microcap but this particular stock was played totally different than any other CEO has played it. He came onto 3 different public forums and spout that the O/S was 1.3 Billion, plus he said in these forums that he would make sure that he would notify the shareholders of any changes to the sharestructure which obviously he has not done. There are a bunch of other things that he out and out lied to shareholders about. Most of the CEOs at this level just don't say anyting at all and just kill you like vwmg did. Believe me there is difinitley a case here if he has scammed us.
Posted by NomarKash on :
Lets stay civilized people. Nothing has happened thus far so stop speculating and stop name calling. If a R/S comes, then we can blame Ed and ourselves for believing in ICAN.
Posted by ya ya on :
I agree with you Bond.I also heard a many times in pro sports a general manager saying the manager is safe he will guide us for years to come and within a month he is Fired.That's why i don't take a lot of what's said to be worth anything.Once a company goes public its a differant game.They work for the top shareholders and if they are not happy then things will change.
Posted by bond006 on :
yes you are 100% right leardron to do something that can be done and never say you will or won't is one thing,and you are within the rules. but to publicly announce a policy and keep on making those announcements while you are taking a totally different course is a whole different story if that is what happened. it would be veryterrible for us if we were misled by ed and it would be the complete ruin of ican imho
Posted by bmaxingout on :
quote:Originally posted by NomarKash: Lets stay civilized people. Nothing has happened thus far so stop speculating and stop name calling. If a R/S comes, then we can blame Ed and ourselves for believing in ICAN.
i try to stay civilized but when someone starts saying crap like waaa waa like losing so much money is funny, people get what they get sorry if i offended anyone just a little stressed right now and i dont need crap like that
Posted by tupac on :
be very afraid, someone just sold 16 blocks of 9,000,000 in a row
Posted by tupac on :
make that 25... whats 25 x 9mil?
Posted by Leardron on :
quote:Originally posted by tupac: be very afraid, someone just sold 16 blocks of 9,000,000 in a row
Actually those were buys since the ask was at .0001.
Posted by tupac on :
actually they were sells. Buys show up as green or blue on the t/s list. These all showed up red. I am just trying to help, I have been watching this stock and decided to stay out. Good luck.
Posted by NomarKash on :
quote:Originally posted by tupac: make that 25... whats 25 x 9mil?
about $22,000
Posted by TraderTom on :
I've been wrecking my brain where the insane volume over the past weeks, mostly at 0.0001, is coming from. If for the sake of argument we believe Ed that it's not him dumping shares, who else is selling insane amounts of shares?
It struck me this morning that what we actually may see is simply a hedge fund or MMs moving around a huge naked short position (perhaps 1 billion shares or so). Assume you have 1 billion shares naked shorted, which you need to cover sooner or later to make money. Now, every few days you put in a huge buy order at 0.0001 to "cover" your short. Since there aren't enough real sellers (yet), at the same time you naked-short the same amount of shares with another broker/MM, also at 0.0001, and apparently "cover" your initial short position. Why would you do that?
1 - You can make sure your naked short position doesn't show up on the "short list" (regulation SHO), since the MMs don't hold the short position for more than 5 days
2 - You make it much harder for Ed to do a share count, since the naked short position is a "moving target"
3 - You ceate the appearance of enourmous sellig pressure at the ask of 0.0001. In the process, you frustate all honest investors like us, since we see all sales at the ask. If you continue this game long enough, many of us will give up and sell our legitimate shares, and you can cover your short position for real.
This is just pure speculation, of course, but it makes some sense if you believe in the naked shorting idea at least.
Posted by ya ya on :
I am also a shareholder in this company and been through many R/S and i don't think it's funny.I probably have less invested in this company then most of you but i get in these for the rush of someday hitting another TASR stock which probably will never happen again but i really like the ride up.So we need to spread our money out and try not to buy millions and millions of shares of this because the chances of this going up a lot is very slim with the o/s well over a billion.So in reply to you BFREAKINGOUT i feel your pain.
Posted by Mike White on :
That because when you naked short you RARELY cover your position... You just hope the company goes under. I hope this is nto the case. Only time will tell...
=(
Posted by nyinvest on :
I'll preface this by saying that I am not very happy about the situation. I'm long and deep into this stock.
I'm going to, as hard as it is, wait for the end of the month. I'm trying to remove emotion from my thoughts which isn't easy. At this point in time, Ed is following exactly what he said he would do. Unfortuneately, this also means that he has done nothing that any of us can tell. If, by the end of the month there aren't answers, then it will be time to decide on a future course of action.
As hard as it is, I'm trying to give Ed the benefit of the doubt here. Maybe he is over his head with this. Maybe it's spiraled out of control on him. Maybe he doesn't know what to do. Maybe he is listening to people he shouldn't. Maybe he has something up his sleeve and it's setting up. I don't know. Maybe he's swindling the shareholders. That has to be considered. There are a lot of double edged swords out there for him. A R/S would do a lot towards clarification, but label him a swindler and liar.
If I was Ed, I would cringe every time the phone rang. I don't think he is getting anyone calling with support and encouragement. I'm sure that most calls are some variation of "you dirty scumbag swindler, what are you going to do for me!?!". I'm not going to judge him on being silent as I would likely do the same.
The reality of the situation is that most of us are powerless and can do nothing but sit and wait for the end of the month.
I still hang on to the hope that he has something spectacular up his sleeve for the end of the month. Everyone is expecting a man in a rowboat to humbly emerge from the fog bearing lies and false promises. I'm hoping that a battle ship emerges guns ablaze. I'm sure that a barage of data, news and answers would do wonders for this stock.
At the end of the month I will be ready to fall in line either with or against management. It's their choice as to which side I choose. If they are going to fight for ICAN, then everyone needs to simply support them. If ICAN goes to war over it's stock, then all the shareholders will need to be behind them. If it turns out otherwise, it will be a long slow and likely fruitless endeavour.
Posted by bmaxingout on :
ya ya i hear what you are saying but after listening to ed for months promising everything that he did it was hard not to beleive him. how could a ceo go on public record spouting off the the things that he did if he didnt mean. it normally i would have never invested some much into a pink company. and sorry about the f u thing and by the way its bmaxingout,....lol
Posted by TraderTom on :
quote:Originally posted by Mike White: That because when you naked short you RARELY cover your position... You just hope the company goes under. I hope this is nto the case. Only time will tell...
=(
Not necessarily - if you're a hedge and naked short a stock into hell, you may try to cover your short as fast as you can, since your annualized profit will be higher. Why wait for a 100% profit for long time (until a company goes under), if you can make a quick 80 or 90% profit in a month?
Posted by bond006 on :
i hope i am wrong but it looks like we have been put together like a cheap watch and wound up
Posted by bmaxingout on :
im hoping that this is a last ditch effort from the mm's to cover
Posted by TraderTom on :
quote:Originally posted by nyinvest: I'll preface this by saying that I am not very happy about the situation. I'm long and deep into this stock.
I'm going to, as hard as it is, wait for the end of the month. I'm trying to remove emotion from my thoughts which isn't easy. At this point in time, Ed is following exactly what he said he would do. Unfortuneately, this also means that he has done nothing that any of us can tell. If, by the end of the month there aren't answers, then it will be time to decide on a future course of action.
As hard as it is, I'm trying to give Ed the benefit of the doubt here. Maybe he is over his head with this. Maybe it's spiraled out of control on him. Maybe he doesn't know what to do. Maybe he is listening to people he shouldn't. Maybe he has something up his sleeve and it's setting up. I don't know. Maybe he's swindling the shareholders. That has to be considered. There are a lot of double edged swords out there for him. A R/S would do a lot towards clarification, but label him a swindler and liar.
If I was Ed, I would cringe every time the phone rang. I don't think he is getting anyone calling with support and encouragement. I'm sure that most calls are some variation of "you dirty scumbag swindler, what are you going to do for me!?!". I'm not going to judge him on being silent as I would likely do the same.
The reality of the situation is that most of us are powerless and can do nothing but sit and wait for the end of the month.
I still hang on to the hope that he has something spectacular up his sleeve for the end of the month. Everyone is expecting a man in a rowboat to humbly emerge from the fog bearing lies and false promises. I'm hoping that a battle ship emerges guns ablaze. I'm sure that a barage of data, news and answers would do wonders for this stock.
At the end of the month I will be ready to fall in line either with or against management. It's their choice as to which side I choose. If they are going to fight for ICAN, then everyone needs to simply support them. If ICAN goes to war over it's stock, then all the shareholders will need to be behind them. If it turns out otherwise, it will be a long slow and likely fruitless endeavour.
I completely agree with you, NYI. We do NOT have anything to prove that Ed broke his word about dilution - again, the volume may just be from hedge funds or MMs churning a large naked short position around to create the appearance of a lot of selling pressure, i.e. dilution.
Let's also keep in mind that with regards to what we can check out and what Ed can control - business deals, real estate, etc. - Ed has been right on target every time. Remember, the MMs control the PPS, not Ed.
Posted by Leardron on :
quote:Originally posted by tupac: actually they were sells. Buys show up as green or blue on the t/s list. These all showed up red. I am just trying to help, I have been watching this stock and decided to stay out. Good luck.
Maybe they were, I don't have level II for pinkies. Probably were sells at sub .0001
Posted by Leardron on :
quote:Originally posted by bmaxingout: ya ya i hear what you are saying but after listening to ed for months promising everything that he did it was hard not to beleive him. how could a ceo go on public record spouting off the the things that he did if he didnt mean. it normally i would have never invested some much into a pink company. and sorry about the f u thing and by the way its bmaxingout,....lol
Your exactly right there bmax and that is why I think Ed will be introuble. Ed was too good on his sell job, if this is a scam, because he ended up conning some investors that don't usually invest in pink sheets and have really deep pocket and are ready to get their money back at whatever means necessary.
Most of the time these CEOs that do scams, end up scamming us little guys that want to take our few bucks with promises to make million. Once we realize we were scammed we have no money to take the CEO to court because we are just poor schmoe's.
Posted by bond006 on :
ok but if us poor slobs stick together we can do something this time maybe with the big boys
Posted by bmaxingout on :
well i think that by the end of the month if ed doesnt come clean ill be talking with my lawyer there has got to be some thing that we can do. this just isnt right. hopefully this is the work of the mm's and not ed time will tell.
Posted by stockaholic on :
I hope Ed realizes he's pretty much on a deadline now. I'm with NYI though. We still don't know anything different except our stock is worth dik. I'm not freaking out until July. Then we can see what course of action we can, or need to take. Until then I think I'm just going to drink alot. LOL
Posted by bond006 on :
the end of the month will tell us a lot lets see if the t/a getr the gag released and we get a real o/s and t/a to start with
Posted by bond006 on :
to say that ed is a good salesman is a real understatement
Posted by NSUstud on :
I agree. If July comes and there is nothing, I am going to talk to my lawyer about a resonable course of action. I also agree that until then I am going to drink a lot.
Posted by TraderTom on :
I'm also upset about the situation, but the trading pattern just looks fishy.
Think about it: for about 1 hour, between 13:30 and 14:30 or so, the bid was at 0.0000, i.e. no interested buyers, not even for a single share. The ask was at 0.0002. And then just 1/2 hour later out of the blue, a buyer shows up who wants to buy 400M (!) shares at 0.0001. And just as miraculously, a seller wants to dump 400M shares at 0.0001. Looks like manipulation to me.
[ June 23, 2005, 17:39: Message edited by: TraderTom ]
Posted by shgray on :
i got only like 600 dollars or so invested ahah but yea ill be still pissed to loose money...ahah but i hope to make it up in pharmaceuticals anyway lol.
Posted by B on :
I've been reading the board, I dont know why people keep talking about scam when ICAN has physical assets and generates revenues.
If Ed is scamming investors he took a mighty expensive route by accumulating assets. That doesn't make sense!
The mm's are f**cking with ED and ICAN. If they did naked short (which I believe they did) it is not in their best interest for the pps to go up. They're not going to let that happen, mm's are trying to bury this company and Ed. How else can you explain all the volume and no pop in pps!
Think about it for a minute, mm's are panic they're doing everthing they can to cover but not enough investors are selling. In fact the opposite is happening alot of icanian investor are adding to their position by the millions. Why else would so many investors have a hard time getting filled at .0001, I'll tell you why that is more they would have to cover. MM's are probably confused and scared at why people aren't unloading the stock.
The MM's can't allow ICAN to leave the pink's or they're done for. Correct me if I'm wrong in order for ICAN to goto the boards its o/s has to be under 3 billion.
Bottom line imho the mm's have no choice but to ruin ICAN at this point because they have nothing to gain and everthing to lose and Ed has to know this at this point. My advice is fight ED!!
p.s. At current pps Ed needs to worry about keeping control of his company it is very vulnerable at these prices. ------------------------------------- Boards don't hit back!
Posted by TraderTom on :
quote:Originally posted by B: I've been reading the board, I dont know why people keep talking about scam when ICAN has physical assets and generates revenues.
If Ed is scamming investors he took a mighty expensive route by accumulating assets. That doesn't make sense!
The mm's are f**cking with ED and ICAN. If they did naked short (which I believe they did) it is not in their best interest for the pps to go up. They're not going to let that happen, mm's are trying to bury this company and Ed. How else can you explain all the volume and no pop in pps!
Think about it for a minute, mm's are panic they're doing everthing they can to cover but not enough investors are selling. In fact the opposite is happening alot of icanian investor are adding to their position by the millions. Why else would so many investors have a hard time getting filled at .0001, I'll tell you why that is more they would have to cover. MM's are probably confused and scared at why people aren't unloading the stock.
The MM's can't allow ICAN to leave the pink's or they're done for. Correct me if I'm wrong in order for ICAN to goto the boards its o/s has to be under 3 billion.
Bottom line imho the mm's have no choice but to ruin ICAN at this point because they have nothing to gain and everthing to lose and Ed has to know this at this point. My advice is fight ED!!
p.s. At current pps Ed needs to worry about keeping control of his company it is very vulnerable at these prices. ------------------------------------- Boards don't hit back!
B: I completely agree - if Ed's intention was to screw us out of our money, why would he go through the trouble of creating all these assets? He could just say he has a miracle cure for cancer and take our money without all that effort!
Also, I looked up "listing requirements" for the OTCBB - there aren't really any:
"The OTCBB is not an issuer listing service, market or exchange. Although the OTCBB does not have any listing requirements per se , to be eligible for quotation on the OTCBB, issuers must remain current in their filings with the SEC or applicable regulatory authority. Market Makers will not be permitted to begin quotation of a security whose issuer does not meet this filing requirement. Securities already quoted on the OTCBB that become delinquent in their required filings will be removed following a 30 or 60 day grace period if they do not make their required filing during that time. A fifth character of "E" in a security's trading symbol is used to denote securities that the NASD believes are delinquent in their required filings; securities so denoted will be removed from the OTCBB after the applicable grace period expires. Note that an issuer can request review of the decision to remove the issuer’s securities by an independent hearings panel. Additional information regarding that process can be found in our FAQs. To provide evidence of compliance with the filing requirement, contact the OTCBB Issuer Filings Department. For more information regarding the eligibility requirements for the OTCBB, refer to Rule 6530. "
[ June 23, 2005, 19:53: Message edited by: TraderTom ]
Posted by NomarKash on :
Tons of volume in pre-market.
Posted by nyinvest on :
Yeah, I was noticing that. A lot of trading for being such a "piece of crap".
Posted by NomarKash on :
Might have another day at .0000, bid and ask both .0001.
Posted by Mack on :
buys or sells going through anyone???
Posted by NomarKash on :
I'm trying to pick up more today but can't get a fill at .0001, anyone having any luck?
Posted by NomarKash on :
OK, bought another 3MM.
Posted by going for gold on :
correct me if 'am wrong but i see 0.0002 on my screen
Posted by bmaxingout on :
quote:Originally posted by going for gold: correct me if 'am wrong but i see 0.0002 on my screen
there sure is a 2 on your screen,correct me if im wrong but i think that they call that a up tick not sure though cause i havent seen one in a while,....lol
Posted by TraderTom on :
I don't have L2s, but Pinksheets.com says "no bid", ask 0.0002. Last sale was at 0.0002. It's nice to see the 2.
BTW, ask and bid looked just the same yesterday before the PPS dropped to 0.00000.
Posted by kptmoe on :
what does all this mean for gods sake
Posted by bmaxingout on :
quote:Originally posted by kptmoe: what does all this mean for gods sake
omho it means nothing at least till next week when ed ungags the ta then maybe we could see a little pop. if what the ta tells us is good.then we will know what the o/s is.till then its all guess work
Posted by kptmoe on :
why wont people believe that there really is equity making money
Posted by stockaholic on :
quote:Originally posted by bmaxingout:
quote:Originally posted by kptmoe: what does all this mean for gods sake
omho it means nothing at least till next week when ed ungags the ta then maybe we could see a little pop. if what the ta tells us is good.then we will know what the o/s is.till then its all guess work
Yeah, don't be surprised though if it's after the holiday. Hopefully, we will know something soon. If he does ungag and and this mess starts to look like it's going in the direction of getting cleaned up, I think we see a huge pop. But, of course it's all ED's call now.
Posted by Rags2BetahRags on :
well I was gone for a bit but glad to come back to see I am out of this mess!!!!
This is looking like a train wreck waiting to happen. I have sent him a request for his hotel booking in Pine Bluff and to try the connvention hall for a seminar. No reply. I sent him an owner financed hotel with 200 rooms near an airport and a franchisee tenant with a 2 yr lease left which could house a restaurant after the lease ran out. This is generating 1.5 million a year. NO reply. I called NO answer but an answering service.... I sent him a OTCBB shell which is fully reporting undervalued and a VERY attractive price tag which got me???? NO REPLY??
Hmmmmmmmm.... Thinking of developing a new board game and replace "Waldo" with ED.
Where is "Ed"?
Posted by Ric on :
Well, I tried to address this once before and no one wanted to here it. The hotel business is not good right now. I was a GM for 6 years and I have a small percentage in a LLC of 13 hotels. They are expensive to run. My hotels made between 700K to 5.5 Million gross last year for the ones that I am involved with. Yet total between the 13 hotels we cleared 220K net with only 7 of the 13 making a real profit. The hotel and resturant business have tremendous overhead. There is no way it would be worth while for us to go public unless we were trying to rip off investors. I mean when you divide the profits between the 9 of us its not alot. Yes there were years in the bubble years we did great but the last 5 years have been real hard. People keep talking about they have real asset and thats rare for a pinksheet but with the potential here there is no way that profits to shareholder value amounts to nothing when your talking billions of shares. And thats why the price is here. It ran on a dream that the company pumped. We are going to give you shares in a OTCBB. No one cared about this company before then and since it has dropped, no one cares again.
quote:Originally posted by kptmoe: why wont people believe that there really is equity making money
Posted by mikensay on :
quote:Originally posted by Ric: Well, I tried to address this once before and no one wanted to here it. The hotel business is not good right now. I was a GM for 6 years and I have a small percentage in a LLC of 13 hotels. They are expensive to run. My hotels made between 700K to 5.5 Million gross last year for the ones that I am involved with. Yet total between the 13 hotels we cleared 220K net with only 7 of the 13 making a real profit. The hotel and resturant business have tremendous overhead. There is no way it would be worth while for us to go public unless we were trying to rip off investors. I mean when you divide the profits between the 9 of us its not alot. Yes there were years in the bubble years we did great but the last 5 years have been real hard. People keep talking about they have real asset and thats rare for a pinksheet but with the potential here there is no way that profits to shareholder value amounts to nothing when your talking billions of shares. And thats why the price is here. It ran on a dream that the company pumped. We are going to give you shares in a OTCBB. No one cared about this company before then and since it has dropped, no one cares again.
quote:Originally posted by kptmoe: why wont people believe that there really is equity making money
Ric, You've got a good point, however, and I may be wrong because we have not seen any financials, but there is real potential in this company if Ed is buying property and restraunts on the cheap. He could very well have locked in quite a bit of equity and have lower hotel bookings and still do well.
But this is just another possible scenario, we should soon find out. Personally, I hope you're wrong, I don't like being fooled.
Posted by bond006 on :
it never was just the businesses for me it was the under valued realestate that had the ability to be brought up in value and be used as leverage wich could in turn pump pps imho
Posted by nyinvest on :
Ric sounds to be dead on with his financial overview, but if you were going to buy hotels and restaurants you would want to buy them on the downturns.
I don't think ICAN is going to be a cash cow, but I think it will be profitable and be able to expand winning with some properties and losing with others. Oeverall, I think they can make a profit and that would be enough to justify ICAN's PPS well over the current .0001-.0002.
As for Ed. I would really being doing the same thing as he is in respect to contact. I can see him sitting there and basically saying "if you know so much about this, why aren't you doing it instead of me."
I have to imagine that he is getting a lot of free advise as to ICAN and probably about what he can do to himself. I doubt that any of it is helping and it may just push him to the point of saying to hell with it all as it's not worth the greif people are putting on him.
Posted by mikensay on :
quote:Originally posted by nyinvest: Ric sounds to be dead on with his financial overview, but if you were going to buy hotels and restaurants you would want to buy them on the downturns.
I don't think ICAN is going to be a cash cow, but I think it will be profitable and be able to expand winning with some properties and losing with others. Oeverall, I think they can make a profit and that would be enough to justify ICAN's PPS well over the current .0001-.0002.
As for Ed. I would really being doing the same thing as he is in respect to contact. I can see him sitting there and basically saying "if you know so much about this, why aren't you doing it instead of me."
I have to imagine that he is getting a lot of free advise as to ICAN and probably about what he can do to himself. I doubt that any of it is helping and it may just push him to the point of saying to hell with it all as it's not worth the greif people are putting on him.
I don't know that this is putting much grief on Ed. I don't know too many CEO's but the ones I do know aren't at all interested in the stockholders, the analysts yes, but the actual stockholders who tend to give their advice doesn't seem to be much of their concern.
Posted by ACKCANE on :
"Ed is buying property and restraunts on the cheap"
Define cheap?
Posted by NomarKash on :
No volume yet, fantastic.
Posted by Leardron on :
Is ICAN finally waking up from it's long nap? We are at .0002 on the Bid and .0003 on the ask, at least for a little bit.
Posted by ACKCANE on :
really? I've had a sell order for .0002 for a few days now!
Posted by Leardron on :
quote:Originally posted by ACKCANE: really? I've had a sell order for .0002 for a few days now!
It's back to 1x2 now but there are like 6mm's on the bid at 1 now. I think it's going to take a little while to get past .0002 but once we do it should be okay.
Posted by mikensay on :
Hit .0003 Finally..
Posted by nyinvest on :
Soooo... we are at .0003 and the .0002 sells aren't filling ??
Posted by Leardron on :
quote:Originally posted by nyinvest: Soooo... we are at .0003 and the .0002 sells aren't filling ??
That's becauset the bid is still only at .0001. It's 1x3 right now.
Posted by stockaholic on :
My 1.7 mil sell went through at .0002 just a few minutes ago. Just had it up to see if there were any takers
Posted by nyinvest on :
That would do it.
Hell, Ameritrade is still telling me it's at .0002.
Posted by NomarKash on :
quote:Originally posted by NomarKash: No volume yet, fantastic.
Vast improvement in the last 3 hours.
Posted by mikensay on :
Hopefully this is a precursor to tomorrows Memphis deal closing. Maybe we can see the ungagging as well.
Posted by Mack on :
looks like a possible uptrend comming bouncing .0002-.0003
Posted by bmaxingout on :
holy smoke i see a three
Posted by Leardron on :
The word is that Ed will not ungag the TA until after the close of the market on the 29th. This is probably a precursor to that.
Posted by bmaxingout on :
quote:Originally posted by Leardron:
quote:Originally posted by nyinvest: Soooo... we are at .0003 and the .0002 sells aren't filling ??
That's becauset the bid is still only at .0001. It's 1x3 right now.
sure beats n/a x .0001,.....lol
Posted by bmaxingout on :
this could be more than a precurser this could be what happens when the mm's cant shake us out And I'm still holding.We will see
Posted by stockaholic on :
quote:Originally posted by Leardron: The word is that Ed will not ungag the TA until after the close of the market on the 29th. This is probably a precursor to that.
Hey Leardron was that something that actually came from ED or just the "end of month" ungagging rumor that's been going around.
Posted by Leardron on :
quote:Originally posted by stockaholic:
quote:Originally posted by Leardron: The word is that Ed will not ungag the TA until after the close of the market on the 29th. This is probably a precursor to that.
Hey Leardron was that something that actually came from ED or just the "end of month" ungagging rumor that's been going around.
yep, that came from Ed's mouth.
Posted by stockaholic on :
awesome!! guess I shouldn't have tested the .0002 waters this morning. Bought those at .0001 so oh well. hope this is the beginning of good things. Still holding 6 mil
Posted by NomarKash on :
Food for thought - since the Ramada should be officially IBAC's tomorrow....
Did anyone know that IBAC bought the Memphis Ramada Inn from CRIMII MAE (CMM on the NYSE) - a commercial mortgage company from Maryland that is structured as a REIT. The property is appraised at $2,876,100. IBAC bought it for $1,725,000. I wonder why CMM sold it. Their portfolio is comprised of 16% hotels from all over the U.S. If this is in a "prime" area, close to the Memphis airport and graceland, it would seem to me that this is a good thing for CMM to have held on to.
Your thoughts?
Posted by Leardron on :
quote:Originally posted by NomarKash: Food for thought - since the Ramada should be officially IBAC's tomorrow....
Did anyone know that IBAC bought the Memphis Ramada Inn from CRIMII MAE (CMM on the NYSE) - a commercial mortgage company from Maryland that is structured as a REIT. The property is appraised at $2,876,100. IBAC bought it for $1,725,000. I wonder why CMM sold it. Their portfolio is comprised of 16% hotels from all over the U.S. If this is in a "prime" area, close to the Memphis airport and graceland, it would seem to me that this is a good thing for CMM to have held on to.
Your thoughts?
they might not be into restoring and rebuilding properties. They probably just buy them and run them till they are not profitable enough and then sell them. IBAC is in the business of buying good potential properties, restoring them and making them vital again. The guy that runs Ed's Hotel line has multiple years experience in revitalizing properties like this.
Posted by NomarKash on :
I'm heading down to Memphis today for business. I will try to stop by the Ramada to check it out. I will keep you all posted.
Let's see just how much in needs to be restored and rebuilt.
Posted by nyinvest on :
Got a partial fill at .0002
At least we have proven that ICAN wouldn't stay at .0001
Posted by nyinvest on :
Whoaa... just flushed 10M @ .0002 all at once.
Posted by TraderTom on :
Yep, something's up - over 100M shares being bought at 0.0002 in past 1/2 hour - all at ask!
Posted by bmaxingout on :
more food for thought, wonder if the mm's realize that after the closing and the release of the gag order they just might have to cover. we could see that squezzzze sooner then later.
any ideas on that anyone
Posted by ACKCANE on :
THe volume of ICAN on my Ameritrade account just went down by 20 million!?!? How does that happen?
Posted by Mack on :
no i still see it @ 492496.6k
Posted by nyinvest on :
I really don't know what to think at this point. I just feel better seeing that 3 today and seeing that some "regular" people got sold out at .0002.
I think this will be a good company. I'm expecting a R/S sometime in the future, but I'm not dreading it at all. I think it will be a good thing for the company and a good thing for the PPS in time.
As for that sale I made today, that doesn't really mean anything overall for me other than maybe some regret should this stock hit .03. I've still got a ton of this stock and haven't ruled out the possibility of buying it back at 1 before this starts it's move up.
Posted by Mack on :
ok i just saw the vol pull back 2 m
Posted by Mack on :
492m to 490m
Posted by TraderTom on :
I also got a fill at 0.0002 (twice today), but have plenty of shares left and will hold on to them.
Posted by TraderTom on :
Ask is back at 0.0003 ...
Posted by Mack on :
i like seeing green for a change
Posted by nyinvest on :
Anyone notice that the Sanibel website has been updated. Still looks like crap but at least it doesn't look like a 2nd grade web project anymore.
Now, if they could get the "other locations" link and some other stuff working so people could actually use the site, then we would really have something.
Maybe they could even fix the name on every page to match the actual restaurant.
Posted by Mack on :
my account showed closing @ .0002--other resorses showed it closing @ .003 anyone know the correct closing??
Posted by Mack on :
0003 i meant??
Posted by Mack on :
looks like the last inside trade was 16:09 @ .0003
Posted by imakmony2005 on :
green green green.,.........
Posted by bond006 on :
e trade closed at .0003 to.
Posted by Mack on :
lets see what type of movement we have today in anticipation of the TA/DEGAGMENT tomorrow after close
Posted by Runamuck on :
WOW .0003
Posted by Mack on :
anyone else see it go from 30m to 20m
Posted by noah129 on :
filled more at .0002 for me just a minute ago.i hope this runs one day back up to the wonderful land of double zero's.hehehe go ican.when i say filled more i actually bought more at .0002.im not selling anything now sitting on 15.5million and counting.good luck to you all.
Posted by mikensay on :
Any chance of a PR before the bell?
Posted by NomarKash on :
Any fills at .0001?
Posted by nyinvest on :
Couple 10M .0001s sitting. Don't think they will fill, but might get real lucky.
Posted by Mack on :
ask @ .0003 again
Posted by Leardron on :
Well, the day of reckoning is at hand. We will see what happens tonight or tomorrow morning before the bell. See if Ed keeps his word and ungags the TA.
Posted by Mack on :
The word is that Ed will not ungag the TA until after the close of the market on the 29th. This is probably a precursor to that. -------------------------------------------------------------------------------- hopefully good news when this happend today
Posted by noah129 on :
should i be buying more at these levels? i really dont know i bought yesterday @.0002 and im not sure if that was wise or not.im in this bigger than i had origionally expected to be as you all know how that happens.but i really hope to make a few bucks on this.are any of you buying more at .0002 or are all of you just putting orders in for .0001 and trying to dump at .0002? im in for 15.5 million and thinking if it would be wise to add another 4.5 to round it out to a fat 20mil.please if anyone has faith in this or thinks its a scam stock please post.ut oh i think i just asked all the pumpers and dumpers for their opinion hehehehe .well im holding on long for now not thinking of selling unless we break above the .0003 mark and hold.
Posted by tntrader on :
I certainly do not plan on buying more.
I'm not going to sell either, but I need to see something positive before I would even think about buying more.
Posted by Leardron on :
quote:Originally posted by noah129: should i be buying more at these levels? i really dont know i bought yesterday @.0002 and im not sure if that was wise or not.im in this bigger than i had origionally expected to be as you all know how that happens.but i really hope to make a few bucks on this.are any of you buying more at .0002 or are all of you just putting orders in for .0001 and trying to dump at .0002? im in for 15.5 million and thinking if it would be wise to add another 4.5 to round it out to a fat 20mil.please if anyone has faith in this or thinks its a scam stock please post.ut oh i think i just asked all the pumpers and dumpers for their opinion hehehehe .well im holding on long for now not thinking of selling unless we break above the .0003 mark and hold.
I wouldn't buy more till you find out if he is going to follow through with ungaging the TA.
Posted by Mack on :
well i want to see how this ungagment goes before i decide to sell ---holding for now my average is .00027
Posted by stockaholic on :
Well noah. My personal opinion is that this will be straightened out soon. Ed is supposed to ungag the TA today. Probably at the EOD though. We saw .0003 for the first time in a while and I think that made everyone feel a little better. I don't know what's going to happen but I'm holding for much more than 0003. From my own dd I have faith that this will be headed north soon and eventually become fully reporting so we don't have to go through this again but, at the same time I think I've bought as much as I'm going to until we hear something solid. It's just been too much of a mess lately to keep pumping money into. Again, I do have faith this will be straightened out...but I was also certain my friend didn't have that jack last night...and I was wrong! LOL!! Today should be fun. Good luck!!
Posted by noah129 on :
thanx for the imput ican crew. i am happy to see that their are others out their that are holding onto their shares at least.and not just dumping and flipping from the basement levels (.0001).im thinking i like the vibe rightn ow with ican and im going to take a little gamble and buy more at .0002 and have an open order to buy more at .0001 as well just incase it drops that low again.good luck to you all sincerely noah.
Posted by bond006 on :
noah129 i am still in for this ride have not sold 20 million and holding nothing eles that is the smartest thing i can think of
Posted by nyinvest on :
I am giving this till July 5. At that point, there should be some information out there. If nothing by then, that fact will be information in itself.
Looks like nobody wants to trade this thing today.
Posted by Leardron on :
quote:Originally posted by nyinvest: I am giving this till July 5. At that point, there should be some information out there. If nothing by then, that fact will be information in itself.
Looks like nobody wants to trade this thing today.
Everyone is holding their breath, hehe. I don't think there will be much volume today unless Ed announces the ungaging early before the close.
Posted by bond006 on :
like you said leardron the day of reckoning is close at hand i have not been on this post for a long time. for the simple reason that everything i needed to know will be unfolding today or tomarrow glta
Posted by farmgirl on :
I have been away for a few days and it appears go things happen. I had a 800K to standing order to buy at .0001 and sell at .0002 just for fun and that is what happened on July 27th. Bought at .0001 sold .0002 I am still holding my original 5mil. Lets see what today holds
Posted by nyinvest on :
quote:Originally posted by farmgirl: ...that is what happened on July 27th....
Farmgirl knows the future ? I'm going to pay more attention to what she says from now on. Posted by bmaxingout on :
we seem to be holding steady at .0002,...lol
Posted by noah129 on :
im putting in an order for 1.5 million @ .0002 we will see how quick it fills.the current time is 10:13 eastern so watch the volume im not lying that is why im posting this time first then check the volume.ok
Posted by noah129 on :
it doesnt seem to be filling for me i guess nobody is willing to sell.this is interesting im sure if i put it in for .0003 ican heehe buy as much as i want .
Posted by Mack on :
the ask is at .0003
Posted by noah129 on :
thanx but i would have thought that ican dropping for a second down to .0001 i would have been filled on my order to buy @ .0002 still no fills i think ican i think ican.
Posted by bmaxingout on :
we need to remember that the ungaging of the ta is only the begining of what ican needs to soar ed will still need to follow up with reporting. if he does that then we will all be in for a good ride.,...hello penny land
Posted by bmaxingout on :
volume 10:50am 2.8 million YAWN!!!!!
Posted by noah129 on :
well my order filled after some time i picked up another 1.5 million @ .0002. now have 17 million shares that are not for sale.still gonna accumulate if this stays low.i may just one day be the biggest bag holder of all time hahahahaha.bags of gold though i should hope.a major shareholder in a successful restaurant/hotel company.
Posted by ya ya on :
Dealing with these stocks for a very long time everyone is waiting for the news to come out At the end of the day.In my opinion I don't think we will see much of an upswing,I think this will stay about the same and i think with many O/S out there they will probably have to do a R/S to bring the number of shares down.I do have a very small position in this.
Posted by Leardron on :
quote:Originally posted by ya ya: Dealing with these stocks for a very long time everyone is waiting for the news to come out At the end of the day.In my opinion I don't think we will see much of an upswing,I think this will stay about the same and i think with many O/S out there they will probably have to do a R/S to bring the number of shares down.I do have a very small position in this.
I still don't believe he will do a Reverse Split simply because he has sworn publicly that he will not do one. Now a Reverse Merger is not out of the question and I think is the best way to go.
Posted by ya ya on :
I hope you are right.It would finally be nice to make some money for everyone
Posted by bmaxingout on :
quote:Originally posted by ya ya: I hope you are right.It would finally be nice to make some money for everyone
you got that right yaya we need to make some green
Posted by noah129 on :
anyone have any fills today @.0001 ? i have an open order for 3million still no fills.
Posted by Mack on :
ungag time....
Posted by Leardron on :
quote:Originally posted by Mack: ungag time....
Yep, Like I said. If he is going to follow through with it, I wouldn't look for it till tomorrow morning. He usually doesn't do after hour PRs.
Posted by nyinvest on :
If you run a company and your shareholders keep bothering the people you do business with asking questions with less than stellar overtones, what would you do ?
I've got some ideas, but would like to hear some other people's.
Posted by Mike White on :
"To All Our Loyal Customers,Shareholders and Employees:
I will be providing periodic insight to the progress and status of the company beyond standard press releases via this forum, please check back regularly for my messages.
Kindest Regards,
Edward W Hayter Chairman, President & CEO IBAC Corporation "
Posted by tntrader on :
CNES did the same thing and dropped to new lows.
Sigh.
Posted by NomarKash on :
quote:Originally posted by tntrader: CNES did the same thing and dropped to new lows.
Sigh.
I doubt setting up an area to address stockholders issues caused CNES to fall to a new low.
Posted by stockaholic on :
Sigh...is right! I can't imagine the dump if he doesn't say something today.
Posted by noah129 on :
well done ed im all for hearing anything about whats going on with ibac corporation.keep up the good work lets retire some a/s sometime soon alright.i think ican i think ican.
17 million long strong accumulating and holding.
Posted by bond006 on :
i think ed will say some thing might be after the bell but he has sort of painted himself in a corner. anway this or tomarrow is the day we have been waiting for you can't get much lower than we are glta today
Posted by Mack on :
off to a quick start 25m
Posted by bmaxingout on :
some thing should be happening real soon. ungag the ta, reporting,moving to the otcb Ed promised all by the end of the second 1/4 we will see,
So come on ed and do the right thing get us longs out of this mess.I want to beleive but your making it harder and harder everyday.Just do what you said you would and all will be right again.
Posted by tntrader on :
I know the forum didn't cause CNES to drop, but the creation of a forum isn't a big deal one way or another. Just pointing out that ICAN is doomed unless we hear something soon!
Posted by NomarKash on :
ask at .0003, come on ICAN...
Posted by kptmoe on :
that 25m were 3 different sells
Posted by NomarKash on :
Any interesting stuff going on a Paltalk?
Posted by Leardron on :
::sniff:: ::sniff:: I smell a lawsuit coming Posted by noah129 on :
why a lawsuit leardron?
Posted by Leardron on :
quote:Originally posted by noah129: why a lawsuit leardron?
Because he publicly and privately has lied to us about the Share Structure and on many other issues (including now the ungaging of the TA). It was PR'd back in January or so that he turned down an unsolicted offer to buy the company which would have come to .03 per share because he thought he could get more. I could keep on going on but all I got to say is he is in "Heap big Trouble".
Posted by bmaxingout on :
he needs to come clean real quick
Posted by going for gold on :
what's the volume today today? i don't see any trade! i don't have l'2.
Posted by Leardron on :
quote:Originally posted by going for gold: what's the volume today today? i don't see any trade! i don't have l'2.
No Volume today so far.
Posted by bmaxingout on :
1 buy out of .03 2,1.3 billion os 3,reduction in share structure(he was actully dumping shares) 4,ungag the ta 5,become fully reporting by the end of the second quarter. 6,spin off div that would be a premium to shareholders.
do i need to go on. our buddy ed has been fibbing his azz off its time to pay the piper.I just dont understand where ed gets off thinking that he can lie to investors the way he has.
Posted by tntrader on :
Beacuse pinks aren't regulated worth a damn and companies do it every day.
Posted by noah129 on :
so if this does come down to a lawsuit how do we go about getting compensation.ive never been involved in a lawsuit.i guess we shall wait and see.things seem very fishy right now.investor confidence is at an all time low i would say.i do know that my order for another 3 million @ .0001 is not filling so that to me means something. well i dont know what to do but hurry up and wait.best of luck to you all.im sitting on 17 million and ill add if ican get in at .0001.
Posted by bond006 on :
i guess if a person wanted to pen a class action suit would be the best way to go it would be hard for a pink i think. we will see we have until the close of business today for ed to keep his word
Posted by noah129 on :
wow some one has some deep pockets that last trade for 12,500 shares @ .0003 costs a total of 3.75$. it does make my account look pretty showing that .0003. but i highly doubt any of us could sell for .0003 right now.i sure do hope that we get some news today im starting to get a little annoyed with all the toying around ed seems to be doing.give us something substantial ed! i want the ta ugagged , i want real movement to the otcbb, and i want you to start a share retirement plan immediatly.this is all common sense.also im not sure if any of you know what eds salary is but i would like to know.if you are diluting the sh$t out of us you are a true sc*m bag, but if what you say is true and the pps is do to nss then do what you have to to create a giant short squeeze and compensate us longs that have stayed true to the plan. the time is now to act ed if you are reading this or have someone monitoring this board you should know by now that many of us are fed up with all the crap that has not happend.
DO THE RIGHT THING ............ NOW !!!!!!!!
Posted by Leardron on :
quote:Originally posted by bond006: i guess if a person wanted to pen a class action suit would be the best way to go it would be hard for a pink i think. we will see we have until the close of business today for ed to keep his word
Normally I would say it would be hard because they always just fall behind the safe harbor laws but this situation is different. Unlike all the other Pinks I have seen or be in, this is the first one where the CEO has gone on several public forums and made definite annoucements on what he would and would not do. Then he also lied to share holders on private phone calls. Most CEOs of pinks just don't talk and put out PRs and then hide behind the safe harbor laws. That is why I say Ed is in trouble if he doesn't get his act together real fast, meaning today.
Posted by bond006 on :
you know that if a person was to smell a rat as far back as when ed gagged the t/a should have told even a new investor that sombody was really hiding somthing
Posted by bond006 on :
i agree leardron and if it looks that way i would be willing to go along as a group of investors there is strenght in numbers
Posted by Leardron on :
quote:Originally posted by bond006: i agree leardron and if it looks that way i would be willing to go along as a group of investors there is strenght in numbers
yepper, the more the merrier, haha.
Posted by bond006 on :
also you are wright on ed policy if what we say is true and we will all see buy the end of bussiness today. safe harbor laws don't protect you from intent to fraud glta i would like to see our investments pan out
Posted by stockaholic on :
I refuse to take a loss and just move on for this one. The problem is having that money tied up for god knows how long in a legal battle. Good Grief!
Posted by bond006 on :
yes it would be to hard stockaholic to just walk away and say will thats the way it is in pink land that is why if some is wrong the sooner we start the better may we could come to a fast agreement and avoid due process.
Posted by Leardron on :
quote:Originally posted by stockaholic: I refuse to take a loss and just move on for this one. The problem is having that money tied up for god knows how long in a legal battle. Good Grief!
Agreed but if you could get .03 per share for that money, I think I could have it tied up for a couple of years. Who knows he might even settle out of court. The reason we say .03 is because he was supposidly offered a buyout of his company back a ways (I think in January) at that price and didn't take it so that is probably at least we will go for in the suit. Hehe.
Posted by ya ya on :
Welcome to life in the pinks,why are a lot of people buying millions and millions of shares of this.This guy is going to tell us things to get us all excited but in the end it's all about the bottom line.The Share price hasen't moved much.Going back to yesterday what i said is going to be true.If this sits here for a while you will see the shares reduced in the form of a R/S.As for a lawsuit - Good luck.He can open up his mouth all he wants but unless he submits something to the SEC you can't do chit.Been through these kinds of stocks on many occasions and just chalk it up to you didn't hit the lottery.
Posted by ACKCANE on :
What are you guys smoking? Talking about a lawsuit, one that you won't win, because a CEO hasn't issued a PR when you wanted him to because you own .00000001% of his company. Because he hasn't "ungagged the T/A" when he said he would . . . Don't you guys have anything better to do, or did you throw your whole life's savings into this.
Posted by bond006 on :
well i am not saying anything at this point because i am not an attorney and it looking more like thats what it will take.
Posted by ya ya on :
Move on people,spend some time searching for a winner.The ship has sailed.
Posted by Leardron on :
quote:Originally posted by ya ya: Welcome to life in the pinks,why are a lot of people buying millions and millions of shares of this.This guy is going to tell us things to get us all excited but in the end it's all about the bottom line.The Share price hasen't moved much.Going back to yesterday what i said is going to be true.If this sits here for a while you will see the shares reduced in the form of a R/S.As for a lawsuit - Good luck.He can open up his mouth all he wants but unless he submits something to the SEC you can't do chit.Been through these kinds of stocks on many occasions and just chalk it up to you didn't hit the lottery.
Well good, you can chalk it up to a loss and we can go forward with a lawsuit to get our money back.
Posted by tntrader on :
I only invested $200 in this pos.
Lawsuit, that is laughable. Come on guys, you know the game.
The stat that something like 75% of pennies are a scam is true...
Posted by bond006 on :
i should not say anything but it looked like what ed said in public and stated that was the policy of the co and in writting also and there is plenty of proof of that. he can be held acountable for. this not like cmkx were there really are no assets this co has them and all us share holders own part of them so we do have a say and legal rights. you get nothing if you are not bold and that encludes self respect.
Posted by stockaholic on :
quote:Originally posted by ACKCANE: What are you guys smoking? Talking about a lawsuit, one that you won't win, because a CEO hasn't issued a PR when you wanted him to because you own .00000001% of his company. Because he hasn't "ungagged the T/A" when he said he would . . . Don't you guys have anything better to do, or did you throw your whole life's savings into this.
your probably right cane. All this talk about a lawsuit is premature, besides being a futile effort in the future. But I don't have my life savings in this. I do have a few grand though and might as well let it sit and see what happens. Some may call me crazy but why sell for a loss now when you really don't have a clue what's happening yet.
Posted by stockaholic on :
quote:Originally posted by Leardron:
quote:Originally posted by stockaholic: I refuse to take a loss and just move on for this one. The problem is having that money tied up for god knows how long in a legal battle. Good Grief!
Agreed but if you could get .03 per share for that money, I think I could have it tied up for a couple of years. Who knows he might even settle out of court. The reason we say .03 is because he was supposidly offered a buyout of his company back a ways (I think in January) at that price and didn't take it so that is probably at least we will go for in the suit. Hehe.
Well, IF he lied about everything else, that may be a bunch of crap too. But, I'll certainly let that money sit and rot for a few years if .03 is an option. Posted by ACKCANE on :
I'm not suggesting selling!!!! Why would you sell at this point?????? One day passes without "THE PR" or "THE UNGAGGING" and people start talking lawsuit. Go spill coffee on yourself at a McDonalds, you might get a free Big Mac or something. I've got 20+ million shares in this. If it tanks, oh well, I have a write off for next year. It's a lottery ticket . . . that's it. Lawsuit!!! Sad
Posted by ya ya on :
I spent 40 Dollars + 7 bucks for scottrade @.0004 to get 100000 shares of this and i am pissed.I can't imagine having like 20 million shares of this or even a couple of million in this.I Would be looking to bust some heads if i spent a lot on this.
Posted by ACKCANE on :
It's a lottery ticket or a write off. Sure I could have bought a few more shares GE or Pfizer, but now Uncle Sam gets less from me next year, and that makes me happy.
Posted by Leardron on :
quote:Originally posted by ACKCANE: I'm not suggesting selling!!!! Why would you sell at this point?????? One day passes without "THE PR" or "THE UNGAGGING" and people start talking lawsuit. Go spill coffee on yourself at a McDonalds, you might get a free Big Mac or something. I've got 20+ million shares in this. If it tanks, oh well, I have a write off for next year. It's a lottery ticket . . . that's it. Lawsuit!!! Sad
It has nothing to do with this particular PR. This was the last straw so to speak. He has consistantly lied to the shareholders and this was his last chance, per se, and it looks like he has lied to us again. Well some of us have invested alot of money into this and aren't going away quitely.
Posted by bond006 on :
thanks for posting my number ya ya haaaaaaa haaaaaaaaa haaaaaaaa. your right there is nothing in the world like somebody blowing a bunch oof smoke up your butt and leaves you with a big dumb grin on you face to pass the time of day with while he goes to the bank counting your money. there is no feeling in the world like that
Posted by bond006 on :
how dare anybody compare this with a lottery ticket there is no buiness plan with a lottery ticket and nobody selling you a plan
Posted by ACKCANE on :
"how dare anybody compare this with a lottery ticket"
What are you going to do, sue me?
Posted by Leardron on :
quote:Originally posted by ACKCANE: "how dare anybody compare this with a lottery ticket"
What are you going to do, sue me?
Hey Ackcane, if you are so cavalier about losing money how about sending me some. Send me about 10 grand and you can write it off on your taxes for next year, hahaha.
Posted by bond006 on :
ackane no i won't sue you as a matter of i enjoy your sense of humor. and we all will take a differet path my friend and you certianly have a right to your opnion
Posted by nyinvest on :
Are these buys or sells going through ?
As for Ed, I'm very dissapointed at the moment. I very much expected to hear something by now but from the removed completely clinical view, the second quarter isn't over.
It's not looking good to me, but in absolute more than fairness he has until next week to say something. There is also an argument for the reporting numbers to be as late as mid July as the second quarter numbers will likely take a week or two to filter in.
I can live with no news this week. Nothing next week and well......
Posted by ACKCANE on :
It's all good. I just don't know why, at this point, you guys are ranting and raving. YOu know what you get with a penny stock. Don't sweat it. Sell if you want to move on. Hang on if you want to see what happens. Just don't get so emotional about stocks or business. The two don't mix.
Posted by Leardron on :
quote:Originally posted by ACKCANE: It's all good. I just don't know why, at this point, you guys are ranting and raving. YOu know what you get with a penny stock. Don't sweat it. Sell if you want to move on. Hang on if you want to see what happens. Just don't get so emotional about stocks or business. The two don't mix.
Your exactly right. I am not ranting and raving. I am just stating fact. He will be servered with a lawsuit. That is how business people handle their differences. Ranting and Raving would be saying stuff like we are going to go to Ed's office and hang him by his you know whats. A lawsuit is not obsurb or stupid, they are done every day. Heck the shareholders of Dreamworks Animation are Suing Dreamworks because they gave a false projection of their sales of Shrek 2. That's mild compared to what Ed has done.
Posted by ya ya on :
I thought when google went public for 90 bucks a share I thought people were crazy for buying this.I said why would anyone buy this for that much money,well it went up over 300 bucks a share yesterday that would be a triple.I bought this for .0004 and its at .0002 that's losing half my money.My downfall is listening to people on these threads talk about what a great company this is and it going to make bank and all the other BS.I try to just post the facts not what i hope this will do because i have a little position in this.I play for the thrill that maybe someday one of these companies will go sky high not just high for the day or 2 or that its a good growing company.I lost a bundle on these stocks and haven't cashed in and said "Wow i made a killing of this".This is daytraders land and not for the long term holder because in 10 years most of these companies will either be gone or do so many R/S that you will be left with nothing.Just my opinion.
Posted by bmaxingout on :
leardon you are right on the money
bmax
Posted by stockaholic on :
You on paltalk leardron? heard anything?
Posted by Leardron on :
quote:Originally posted by stockaholic: You on paltalk leardron? heard anything?
Yes and Nope, Everyone just hanging tight. There was a rumor that he would put the PR out by Noon but that has now come and gone.
Posted by bond006 on :
yes in the business world there is nothing emotional about a law suit that is how we settle our differences and i am with you guys on one. and it is our wright to do so and between you and me i don't think if it comes to that,that we would ever see the indide of a court room ed is not stupid he would settle
Posted by NomarKash on :
quote:Originally posted by ya ya: I thought when google went public for 90 bucks a share I thought people were crazy for buying this.I said why would anyone buy this for that much money,well it went up over 300 bucks a share yesterday that would be a triple.I bought this for .0004 and its at .0002 that's losing half my money.My downfall is listening to people on these threads talk about what a great company this is and it going to make bank and all the other BS.I try to just post the facts not what i hope this will do because i have a little position in this.I play for the thrill that maybe someday one of these companies will go sky high not just high for the day or 2 or that its a good growing company.I lost a bundle on these stocks and haven't cashed in and said "Wow i made a killing of this".This is daytraders land and not for the long term holder because in 10 years most of these companies will either be gone or do so many R/S that you will be left with nothing.Just my opinion.
Not all companies are Google. Take Nokia for instance. Two years ago it was 40, now its 20, im left at a loss of 50%. No different than ICAN from .0004 to .0002. I still think ICAN is a good company and most of you are all making this a bigger deal IMO. Yes ED said he was ungagging the TA. But where exactly did he says this? In Paltalk? Or on the phone to another investor? Have any of you actually read it or heard it directly from his mouth?
Posted by Leardron on :
quote:Originally posted by NomarKash:
quote:Originally posted by ya ya: I thought when google went public for 90 bucks a share I thought people were crazy for buying this.I said why would anyone buy this for that much money,well it went up over 300 bucks a share yesterday that would be a triple.I bought this for .0004 and its at .0002 that's losing half my money.My downfall is listening to people on these threads talk about what a great company this is and it going to make bank and all the other BS.I try to just post the facts not what i hope this will do because i have a little position in this.I play for the thrill that maybe someday one of these companies will go sky high not just high for the day or 2 or that its a good growing company.I lost a bundle on these stocks and haven't cashed in and said "Wow i made a killing of this".This is daytraders land and not for the long term holder because in 10 years most of these companies will either be gone or do so many R/S that you will be left with nothing.Just my opinion.
Not all companies are Google. Take Nokia for instance. Two years ago it was 40, now its 20, im left at a loss of 50%. No different than ICAN from .0004 to .0002. I still think ICAN is a good company and most of you are all making this a bigger deal IMO. Yes ED said he was ungagging the TA. But where exactly did he says this? In Paltalk? Or on the phone to another investor? Have any of you actually read it or heard it directly from his mouth?
Nomar, that is not what he is getting Sued about. The main thing is that he has said many times in bother public( namely IBC radio) that the O/S is 1.5 Billion shares and that he would notify the shareholders of any change in that O/S. Well he hasn't. We were just giving him the benefit of the doubt and saying we would wait to see if he lives up to his latest claim that he would ungag the TA. There are other claims he has made as well but I am not going into it all. The constant lie on the O/S is the biggest one.
Posted by ACKCANE on :
link?
Posted by NomarKash on :
I agree fully Leardon. But where did COB 6/29/05 come from? Where did that date actually come from? I know he pubically said he is going to notify the current O/S, but did he pubically give a date?
Posted by Leardron on :
quote:Originally posted by NomarKash: I agree fully Leardon. But where did COB 6/29/05 come from? Where did that date actually come from? I know he pubically said he is going to notify the current O/S, but did he pubically give a date?
No, he didn't give that date publicly. He told several investors this in conversation. I realize that this latest lie cannot be used in any suit we just decided to give him one more chance to come clean.
Posted by ACKCANE on :
LOL!! OK, please keep us up to date on that lawsuit.
Posted by NomarKash on :
Something must be going right, I just saw it hit .0003
Posted by Galaxy on :
5000 @.0001 ->12:24:39 5000 @.0003 ->12:26:12
Posted by ACKCANE on :
fifty cents and a buck fifty for a trade? Why?
Posted by stockaholic on :
Well, PR or no PR, the T/A is most definitely still gagged. I just called them
Posted by mikensay on :
quote:Originally posted by stockaholic: Well, PR or no PR, the T/A is most definitely still gagged. I just called them
I imagine they are being inundated with phone calls. Did you get any information out of them?
Posted by stockaholic on :
Basically... "You will have to call the company for that info, now ***k off!!" LOL!! Just kidding but as far as her attitude goes, it sounds like she may have said that a couple times today.
Posted by TraderTom on :
If I remember correctly, Ed supposedly said he'd ungag the TA after he announces the closing of the hotel deal in Memphis, on June 29. I never understood why ungagging the TA would depend on the closing ...
With regards to the hotel deal, somehow the closing must have been delayed - happens all the time because paperwork isn't ready or other reasons. So do we say Ed lied about the hotel deal? That's entirely silly.
Don't misunderstand me, I'm also disappointed that the "big day " has come and nothing has happened, but I'm also will to wait a little longer - I've been waiting long enough.
Posted by mikensay on :
I think back several pages in the posts the discussion was that ungagging after the closing of the deal would soften the blow since Ed had previously indicated that the O/S was smaller than it really is.
Posted by TraderTom on :
According to the PR from June 02, the closing date of the Memphis hotel was supposed to be June 28, so we're overdue on the closing. They basically gave themselves a 1 month closing period. If you ever made a real-estate transaction, you'll know that 1 month is rather ambituous.
==============================================
IBAC Corporation Completes Contracts to Acquire the Memphis Airport Ramada & Confirms Closing Date
NEW YORK, Jun 02, 2005 (BUSINESS WIRE) -- IBAC Corporation (PINK SHEETS: ICAN) today announced that they have completed the definitive contracts whereby IBAC will acquire the Memphis Airport Ramada & Restaurant that they won as high bidder at a public auction held on May 25, 2005, upon the completed transaction the property will become a wholly owned subsidiary of IBAC. The closing of the acquisition is June 28, 2005.
Posted by Galaxy on :
Is anyone have any idea about these filling in Arkansas (ROYAL ARKANSAS HOTEL)
Search Incorporations, Cooperatives, Banks and Insurance Companies
Corporation Name THE ROYAL ARKANSAS HOTEL & SUITES, INC. Fictitious Names N/A Filing # 800037685 Filing Type For Profit Corporation Filed under Act Dom Bus Corp; 958 of 1987 Status Good Standing Principal Address
Reg. Agent QUEST RESEARCH INC.
Agent Address 101 SOUTH SPRING STREET, SUITE 220
LITTLE ROCK, AR 72201 Date Filed 07/12/2004 Officers EDWARD HAYTER , Incorporator/Organizer
Foreign Name N/A Foreign Address
State of Origin N/A
Posted by tntrader on :
word on RB is that the company that actually bought the hotel is separate from ICAN.
Posted by Leardron on :
quote:Originally posted by tntrader: word on RB is that the company that actually bought the hotel is separate from ICAN.
The Royal Arkansas Hotel & Suites is a subsidiary of ICAN. It is still part of ICAN even though the asset is under that subsidiary.
Posted by nyinvest on :
Leardon has got it. If you look at the description of ICAN, it reads:
"...IBAC Corporation, through its operating subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide..."
additionally, they have also said:
"IBAC Corporation is a New York based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant Industries. "
This doesn't worry me in the least bit. It is a valid operating structure and it would (will?) be of use in any spin-off or selling of assets. It puts hotel, restaurant and other operations into their own operational units.
Posted by bmaxingout on :
tell you the truth i wouldnt put too much into anything that comes off rb its full of bashers that spend hours every day trying to bash ican all i can think of is that they must be getting paid for bashing or they just really need to get a life
Posted by bond006 on :
with all this bashing on rb and all this doubt on our board i think ed needs to at this time make a pr and let investores know what is going on. there is talk out there now about ican being a shell that was used to move assets to another shell and we are bagholders. this has got to be put to rest
Posted by ya ya on :
i wouldn't doubt that one.I always end up a bagholder.
Posted by bond006 on :
word is on rb the t/a is un gagged 11.4 billion and 5.2 billion in float i think i will call
Posted by ya ya on :
oh my,If that's true we are in a world of chit.
Posted by bond006 on :
« ICAN Message list | Reply to msg. | Post new msg. « Older | Newer » By: CWY48 30 Jun 2005, 03:34 PM EDT Msg. 33896 of 33900 Jump to msg. # 11.4 billion less Eds 6.2 billion==5.2 billion in the float.
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Posted by Leardron on :
quote:Originally posted by bond006: « ICAN Message list | Reply to msg. | Post new msg. « Older | Newer » By: CWY48 30 Jun 2005, 03:34 PM EDT Msg. 33896 of 33900 Jump to msg. # 11.4 billion less Eds 6.2 billion==5.2 billion in the float.
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Just been confirmed. It IS ungaged! But they won't tell you how the O/S is broken down. We still don't know if the Resticted shares are still restricted. All we know now is that the O/S is 11.4 Billion.
Posted by stockaholic on :
Where did you get that info?
Posted by nyinvest on :
Well, if the breakdown works out to a 5.2B float, that is good news all the way around. Ed hinted that there would be more shares than the 1.5B out. I've been working off a number of 6B and was happy.
It also means that Ed is doing exactly what he said he would. Memphis closed, T/A gag is off.
Posted by bond006 on :
glad you got thru leardron busy 411 conected me 2 times both busy did not give number.
looks like for better or worst ed does what he says
Posted by Leardron on :
quote:Originally posted by stockaholic: Where did you get that info?
the 11.4 Billion O/S came directly from the TA. They said that Ed just ungagged them this afternoon.
Posted by going for gold on :
if the o/s is 11.4,what would the pps now,can someone do the math
Posted by TraderTom on :
The total O/S makes some sense - if you add up all the volume over the past 4 weeks or so, you end up with 9-10 billion shares = that's when the dilution happened.
And if Ed turns out to have bought half of the diluted shares, then I'll be happy to hang on to my shares. As long as the dilution stops now, we'd be fine with these numbers.
Posted by NomarKash on :
quote:Originally posted by nyinvest: Well, if the breakdown works out to a 5.2B float, that is good news all the way around. Ed hinted that there would be more shares than the 1.5B out. I've been working off a number of 6B and was happy.
It also means that Ed is doing exactly what he said he would. Memphis closed, T/A gag is off.
Do we know Memphis is closed?
If yes, I envision two PRs tomorrow before the holiday weekend.
Posted by Leardron on :
quote:Originally posted by going for gold: if the o/s is 11.4,what would the pps now,can someone do the math
Well that all depends on whether the 6 Billion are still restricted or not.
If 11.4 Billion is the float and the value of the company is 30 Million then it should be around .0026
If it is 5.4 Billion then you are looking that it should be around .0055
Posted by nyinvest on :
Well, simple math of 11.4B x .0002 gives you only $2,280,000.00.
The new Memphis property is appraised for about that alone.
If you take the May revs and extend them, you get revenues of just over .0003
Posted by nyinvest on :
I am assuming (I know, risky around here) that Memphis did close for two reasons.
People are saying ICAN is a scam because it looks like Arkansas Hotels owns the Memphis property now and #2 it was said that the T/A would be ungaged after closing.
Posted by stockaholic on :
quote:Originally posted by Leardron:
quote:Originally posted by stockaholic: Where did you get that info?
the 11.4 Billion O/S came directly from the TA. They said that Ed just ungagged them this afternoon.
OK, thanks. Just don't trust anything anyone says on RB. Well, I'm kind of with NYI. I think we all knew the O/S was more than 1.5 But he did ungag and we still have property, and they are still making steaks in sanibel. I'm sure there will be a big dump tomorow because people want it to be 1.5 but I'm cool with this. Let's grow and move the pps
Posted by going for gold on :
thx leardron
Posted by bond006 on :
i bet the whole o/s is in th float but you know for most of us asset value still works out ok
Posted by TraderTom on :
I remember an earlier posting claimed that Ed himself came up with the money for the Memphis deal. With an average PPS of the dilution of about 0.0002, times 8 billion shares = $1.6 million, which is VERY close to the price of the Memphis property ($1.75M). If that's the new share structure, it all makes sense suddenly, and I like it.
Posted by ACKCANE on :
Has anyone here actually called to confirm these numbers or are we taking the word of some idiot on "the other boards"?
Posted by bond006 on :
supposed to be a late pr today thats the word on rb
Posted by TraderTom on :
IBAC Corporation to Negotiate an Increase to Their Existing Credit Facility for up to 20M Dollars for Further Acquisitions
NEW YORK, May 16, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:ICAN), a Hospitality, Restaurant, Food & Beverage Service, and Entertainment Holding Company, today announced that its Board of Directors has approved the go ahead to negotiate an increase to its credit facilities for up to 20M dollars from a group of private investor/lender's and Banks.
"We are very excited about this proposed increase to our credit facility as this will allow us to accelerate certain proposed deals we have been looking at and to seek additional acquisitions for the company," said IBAC's Chairman Edward W. Hayter. "We feel that with our solid performance, strong outlook and cash flow that now is a good time to complete other certain deals that we have been looking at and that are on the table now, to grow the company."
==========================================
I've been wondering what happened to this credit line. My feeling is that Ed may have hoped to use this credit to purchase the Memphis hotel. Perhaps the negotiations take longer than thought, or something else happened, and he was forced to dilute shares instead. Hopefully we'll get an announcement at some point that the new credit line's been approved.
Posted by bond006 on :
leardron said he confirm but they would not say if edshares are still restricted
Posted by bond006 on :
Atlas Stock Transfer Corporation 5899 South State Street Suite 24 Salt Lake City, UT 84107 Tel: (801) 266-7151 Fax: (801) 262-0907 ...
Posted by TraderTom on :
I guess I understand now why Ed wanted to tie the ungagging of the TA to the closing of the Memphis property - it's his way of saying the shares were diluted in order to purchase the hotel.
Posted by bond006 on :
man are we diluted maybe 11.4 billion in the float if that is true its a first for me.
Posted by nyinvest on :
quote:Originally posted by TraderTom: ...it's his way of saying the shares were diluted in order to purchase the hotel...
I'll wait and see on that one. I think there are still games afoot.
Posted by bond006 on :
i am done for the day good night all see you in the morning
Posted by bmaxingout on :
lets all take a deep breath and say ed smoked us
Posted by bmaxingout on :
if you think we have something to cry about go to the udve post they might get there .05 cent a share divy from there new owners after a 1 for 10,000 r/s for every million they will have 100 share good god i hope that does not happen to ican
Posted by ACKCANE on :
What else has been "promised" for the future by Ed? He seems to be the only CEO in the pinks to keep his word. And some of you wanted to file a lawsuit. Has he stated a desire to move off the pinks?
Posted by mikensay on :
quote:Originally posted by ACKCANE: What else has been "promised" for the future by Ed? He seems to be the only CEO in the pinks to keep his word. And some of you wanted to file a lawsuit. Has he stated a desire to move off the pinks?
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Press Release Source: IBAC Corporation
IBAC Corporations Board Elects to Remain Intact As a Publicly Traded Entity Monday June 6, 9:28 am ET
NEW YORK--(BUSINESS WIRE)--June 6, 2005--IBAC Corporation (ICAN.PK) today announced that the Board of Directors over the weekend has elected to remain intact as a publicly traded entity. The company had previously announced that it would spin off some or all of its assets to a fully reporting otcbb company or would consider bringing the company private. The Board of Directors has decided that neither one of these strategies would be in the best interest of the company or its shareholders; hence the board has elected to leave the company and its assets intact and proceed immediately with the process of IBAC becoming a fully reporting company and moving up to either the otcbb or nasdaq small cap boards.
"The company will continue to grow aggressively through additional acquisitions per the stated business plan with the company taking possession of the recently acquired Memphis Airport Ramada & Restaurant on June 28, 2005 to be followed by the second Sanibel Steakhouse on August 15, 2005. The company is also negotiating several other acquisitions and expect to announce them in the very near future," said Edward W Hayter, President & CEO IBAC Corporation.
IBAC Corporation is a New York based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant Industries, visit the company website at
Posted by ACKCANE on :
Maybe that is the next step? Otcbb or nasdaq? what step am I missing?
Posted by mikensay on :
They've got a few hurdles to get over to becoming fully reporting. One of them is share count reduction. I don't know what the share count needs to be but it needs to be brought down. So for that to happen either Ed retires shares or does a R/s. Most likely if the price stays low he'll buy back.
I believe Leardron has heard several times that Ed has no intention of doing a R/S so I'll keep my fingers crossed and hope to see the 52 week high...Would be very nice.
Posted by bond006 on :
yes ed has said over and over he won't do an r/s and i believe him
Posted by porterhallpi on :
I believe him tooo. Why would Ed not buy back his shares at such a low pps...If he is making profits, why not?!! He will make money in the end. Has anyone gone on paltalk lately and talked to him...Someone kick this in the rear and lets start making some money...jease, sorry been bad holding since .0005
Posted by TraderTom on :
ICAN can become a fully reporting company no matter how high the float is. Also, the OTCBB does not have a limit on the float, market cap, or PPS; essentially the only requirement to be on the OTCBB is for the company to file with the SEC regularly. See here for instance:
However, the other exchanges do have listing requirements, for instance a minimum price, so ICAN probably would have to do a R/S do make that move.
Ungagging the float is a first step in the right direction. Now Ed needs to start reporting. Since he keeps on releasing monthly revenue figures, he must have some kind of accounting system in place already. So it shouldn't be too difficult for ICAN to become fully reporting. It should make a huge difference in how much shareholders trust the company.
Posted by nyinvest on :
I don't have a real problem with the O/S issue. The number is pretty much in line with what we thought.
I think that there will be a r/s in the future. I think that it will probably come after the stock is better supported with some numbers. If the company becomes fully reporting and the r/s is after that, then I will be very comfortable with that.
I guess the next milestone with be reporting. I don't seem to recall a date for this happening in any PRs, but informally the end of the 2nd quarter has been tossed around. I don't know if that means the end as in on the calendar or the end of the second quarter numbers which would be sometime in the latter half of July.
A positive PR of some sort, even with little meat, would be a good thing right about now.
Posted by NomarKash on :
What we don't know is if the O/S includes restricted shares right?
Posted by Leardron on :
quote:Originally posted by NomarKash: What we don't know is if the O/S includes restricted shares right?
The O/S would include restricted shares by definition. The problem is that we don't know if the shares are still restricted or they are now unrestricted and part of the float. This is the part that the TA won't give us. It also seems strange that Ed ungaged the TA and we still haven't seen a PR on it yet. He could clear up the whole restricted questions if he would put out a PR stating the TA is ungaged and here is the breakdown of the O/S.
Me, being cynical at this point, believes that the 11.4 is the Float. Especially since he has made no effort to clear up the breakdown and also the TA won't give it.
As far as the R/S goes. Yes he has said No reverse split in two public forums. One in the Pal Talk discuss that he PR'd back in Feb and then also during an interview on IBC Radio.
Posted by bmaxingout on :
quote:Originally posted by bmaxingout: 1 buy out of .03 2,1.3 billion os 3,reduction in share structure(he was actully dumping shares) 4,ungag the ta 5,become fully reporting by the end of the second quarter. 6,spin off div that would be a premium to shareholders.
do i need to go on. our buddy ed has been fibbing his azz off its time to pay the piper.I just dont understand where ed gets off thinking that he can lie to investors the way he has.
show me where he told the truth
Posted by bmaxingout on :
sorry #4 everything else was bs
Posted by bmaxingout on :
hostile take over is what i would like to see right now
the way i see it the company dumped everything right anyone with some real money could take control of the entire company for less then 2 mill throw ed out on his azz the entire company is now up for grabs today we should be seeing no bid pps should drop to .0001 so if there is any big guns that read these boards you buy ican for pennies on the dollar.
Posted by nyinvest on :
I'm not seeing it bmaxingout. Sounds like you have been over to that cesspool RB.
Everyone seems to be getting worked up over the issuing of an ambiguous number.
I don't see where this investment has fundamentally changed. 1 month ago it was champagne and caviar, now it's murder, thievery and mayhem. What is it all based on?
Locking Ed into a course of action based on what he informally or formally stated makes no sense. Things change and there are things we don't know about. These pink sheets are volatile because there are fewer regulations and that opens the doors to shady dealings. The second part of that equations are the "players" buying the shares. It's either fortunes or criminal scams. There is no middle ground, no room for modifying a plan, no acceptance of a company deciding it's folling a faulty course. Any deviation from the perceived meaning of a PR automatically makes a CEO a criminal scammer and the company a sham.
Yes, it's common with these micros but it's not necessarily the rule. I openly and freely admit that ICAN may be a scam and we are all taken. It's pure insanity to fail to acknowledge that possibility. It's also foolish to hold a company and it's CEO to their word as it's perceived. Take the reporting for example... was it clearly stated that the company would be reporting at the date the quarter closed or through the second quarter? If it's through the second quarter, it will be weeks to a month for the numbers to be compiled. Nobody has a clear answer to when, but because it is expected that a company is a scam that the worst must be assumed.
As for the 6 points: #1 there may have been an offer of .03. Everyone seems to think that .03 wasn't enough and a reporting ICAN with 2 hotels and 5 restaurants likely is worth more.
#2 1.3B O/S. This was true at one point. I'm not sure Ed even knows what the numbers were. People were willing to accept 5B O/S and it has to be understood that shares are a tool for a company. We don't know why the shares are out, but until we do we have to assume there is a valid reason.
#3 Reduction in the share structure. Is this meant to be O/S or A/S ? The avenues are different for each. Any sort of R/S to do this is unacceptable and a buyback/retirement may not be feasible at this time. See #2.
#4 This was done.
#5 The reporting issue was addressed.
#6 Spin off Div. This action is already being hammered by people as being a scam action. ICAN claims to have decided to remain whole. That should make them a stronger company. They are likely worth more as a whole than in parts.
If anyone wants to continue to think the worst, feel free. You might be dead on. But to not give this time and the benefit of out blindness to the day to day operation of the company seems to be an overreaction.
ICAN has assets and income and both in levels that warrant a little more consideration than some other pink sheet stocks. I should be spitting nails angry right now over the price of this stock, but I'm not. I'm actually feeling half way decent and optimistic which surprises the hell out of me.
Posted by ACKCANE on :
Good post nyi!
Posted by bmaxingout on :
well everyone can beleive what they as for me im out GLTA
Posted by NomarKash on :
I second that, I think NYI makes very valid points. Let's stay focused here and stay on the same page.
Posted by stockaholic on :
Very insightful NYI. I'm not ready to bail just yet. Hardly any volume this morning. Kind of surprised that there's no power dump from all the negativity going around.
Posted by ACKCANE on :
Not sure I understand the negativity. Ed said he would ungag the T/A and he did. Even if the O/S is 11.4 bil then we have still established that the pps is low. This is a company that has viable assets, correct? I understand that some of you want to make a quick buck now, but I really don't understand some of the bashing. I would much prefer to invest in a company that has a stated goal and plan and proves that said company is slowly working towards that goal than a company that promises the world and floods the media with false prs and is constantly talking to "investors" on the phone and answering e-mails from the mindless masses.
Posted by bond006 on :
why get out now after all we have been through the pps can't get much lower i can take a hit like this now or 60 to 90 days from now but if i wait there might be somthing good happen and my options are still open. hell there might even be new people to sue ha ha ha
Posted by Leardron on :
I am actually very calm about the whole situation because something is being done about it. Whether you guys think it is stupid or not doesn't really matter. I am just sitting and watching what happens here.
No one here can understand where some of us are coming from unless you have been in this since the very beginning and listened to all of Ed's lies first hand. Alot of you are probably in at .0001 and .0002 and you might even make a little money out of it. In any event, Everyone have a great 4th and have a relaxing weekend.
Posted by ACKCANE on :
At what price did you get in?
Posted by Leardron on :
My average is around .00045. I have some at .0005 and some at .0004
Posted by nyinvest on :
My first shares were at .0005.
Then more at .0003
Then a whole lot more at .0002
Then even more at .0001
I'll admit that at .0002 I am profitable.
Posted by bond006 on :
i am not going to state every thing that was said in pr's but if you were in at close to the start the reasons you got in were certainly not the path that the company took and a lot of things were all flowerd up to make you think you were going in the direction as stated in the begining and i know how some people must feel now i feel that way but i am calm and i will stay to see how all of this unfolds. i have to try to protect my investment and any thing i can do to help others on the way i will try my best hoping to help us all. a lot of people put there hart and sole into this and had a lot of dreams its a bitter pill to take and some of you i wish you would be more understanding to those that have been in this from the start
Posted by bond006 on :
my average is .0004
Posted by NomarKash on :
My average is .0001865, I have been in since Nov '04 but bought and sold many times. Now I have been holding since March and keep averaging down.
Posted by nyinvest on :
I think everyone took off early for the long weekend.
Posted by TraderTom on :
My average PPS is just over 0.0002, so I feel comfortable also. I've been trying to buy more at 0.0001 all day, but haven't gotten a fill yet. Has anybody been able to buy at 0.0001?
So surprisingly there seems to be no real selling pressure, but then the selling pressure over the past month was from Ed diluting shares. And having the TA ungagged and being close to the A/S count tells me no more dilution for a while.
Posted by BchOus on :
The last trade showing at Scottrade is at 11:27:00, at .0002. Somethings up!....I'm in at .0004, lost already to UDVE.....hope I don't lose more.....Good Luck to all of us in this one...!
Posted by farmgirl on :
Last Price N/A
Change $ N/A
Change % N/A
Tick N/A Bid N/A
Bid Size N/A
Ask N/A
Ask Size N/A Open N/A
High N/A
Low N/A
Prev Close N/A Last Trade N/A
Volume N/A
52 Wk Hi N/A
52 Wk Lo N/A Market Cap N/A
Ex-Div Date N/A
Dividend N/A
Yield N/A Shares 1.39 b
EPS (TTM) 0.64
PE Ratio 54.10
Exchange N/A
WHAT THE HELL DOES THIS MEAN????
Posted by kptmoe on :
where did you find these numbers
Posted by Galaxy on :
QuoteMedia Sorry misspelled the first time.
Posted by Allen on :
I live in Memphis. I went to the Ramada Limited today and to my surprise the motel is in pretty good condition. The rooms are all inside rooms and it is right by Interstate 240. There were several people checking in at the time I stopped by. I also went a looked at one of the rooms and it looked good. I expected the motel to be in really bad condition, but now I think people need to just wait and see what happens. I have seen that Ed has come through with everything he has said and people really need to realize this stock isn't going to make us millions over night. Until people relax and quit screaming we won't hear anything.
I am also excited about the Sanibel that will be opened in Memphis. It will be great to have a new place to eat around and I think it will do well. This hotel is very close to the Airport and it is between the Airport and all the historical places in Memphis. Its also not far from the casinos in Tunica. I believe this place has alot of potential and my expectations are high we just have to trust the CEO as we have in the past. We chose to buy ICAN and we need to back Ed. If we don't back our company then why would anyone else believe in it.
Posted by Leardron on :
Well, Start of a new week. Hope everyone had a great holiday. I see still no PR from Ed. Go figure.
Posted by WinsumLosesum on :
IBAC Corporation Completes Acquisition and Takes Possession of the Memphis Airport Ramada Hotel & Restaurant Business Wire - July 05, 2005 09:07
MEMPHIS, Tenn., Jul 05, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN:PK) today announced that they have completed the acquisition and have taken possession of the Memphis Airport Ramada Hotel & Restaurant that they won as high bidder at a public auction held on May 25, 2005.
The total cost of the acquisition was $1,925,000 plus closing costs and attorney's fees; the transaction was paid for with a short term first mortgage of $600,000 and the balance of $1,325,000 plus costs were paid in cash with a non interest bearing loan by IBAC Corporation President Edward W Hayter.
The property has an approximate initial (as is) appraised value of $3,500,000 thus giving the company an immediate equity of approximately $1,500,000 towards its balance sheet along with increased revenues to the company from room rates and the restaurant.
IBAC Corporation was represented on this transaction by Mr. Harry Hamlin Esq. of Mitchell, Williams, Selig, Gates & Woodyard, PLLC.
"We are very pleased with the on time completion of this acquisition as this choice property will increase the company's room inventory to a total of 327 and an additional restaurant located in a very popular city as we strive towards our stated goal of becoming a fully reporting company. The company continues to seek additional properties and is currently negotiating further potential acquisitions. I am extremely pleased with the rapid growth we have experienced in such a short period of time (less than a year) and will continue to utilize all available resources in our quest to reach the company's stated objectives. I also would like to give a very special thanks to Mr. Harry Hamlin Esq. for his tireless work on this Acquisition," said Edward W. Hayter, President IBAC Corporation.
The Memphis Airport Ramada Hotel & Restaurant are 2 separately deeded parcels. The Hotel is a 127 room Hotel located adjacent to the Memphis International Airport and 2 miles from the world famous Elvis Presley's Graceland. The property contains approximately 70,293 sf, and was constructed in 1986. It is a six story interior corridor hotel in superb condition and is situated on 1.548 acres. The restaurant is approximately 5100 sf and was also built in 1986 and is situated on .992 acres. Some additional features of the property include an outdoor pool & patio area and 182 parking spaces.
With the addition of this acquisition IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC Corporation is a New York based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant Industries.
Posted by Leardron on :
oops, was already posted. Removed mine.
Posted by stockaholic on :
good news again and no real movement. Man I wish we could get a run out of this up to the real value of the company.
Posted by noah129 on :
its just a matter of patience and ed becoming a fully reporting company one day.this stock is so grossly undervalued its amazing.i cant put in any more becuase it is a ;PINKY AND IVE put in alot more than i planned but i really think this stock should be about 5 to 10 times higher than it currently trades. anyways good luck to you all sincerely noah.
Posted by dummy2 on :
Just saying hey to everyone. I'm the biggest stock dummy in the world but I do have a few in ICAN. Any help is always appreciated
Posted by mikensay on :
The total cost of the acquisition was $1,925,000 plus closing costs and attorney's fees; the transaction was paid for with a short term first mortgage of $600,000 and the balance of $1,325,000 plus costs were paid in cash with a non interest bearing loan by IBAC Corporation President Edward W Hayter.
The property has an approximate initial (as is) appraised value of $3,500,000 thus giving the company an immediate equity of approximately $1,500,000 towards its balance sheet along with increased revenues to the company from room rates and the restaurant.
Didn't realize Ed would be putting up the cash himself. No wonder he was thinking of bringing the company private.
1.5M in free equity and we're still at .0002. I thought for sure this would raise it to .0005.
Posted by nyinvest on :
I'm agreeing with mikensay that ICAN should have seen something more happen with the PR from this AM. There was no volume and no movement.
I'm reaching with this, but I think there are still games being played with this stock and it may not be from ICAN's side of the table. I suppose it has to do with my ignorance of some of the back office operation type stuff.
Say there were naked shorts on this stock. How would the T/A see them, or would they? I don't know the how or when shares are reported to the T/A and if the T/A knows or has a limit on the number of shares it records. Keeping some numbers under wraps would be a nice card to hold in your hand. Of course, I could be missing something.
Posted by Leardron on :
quote:Originally posted by mikensay: The total cost of the acquisition was $1,925,000 plus closing costs and attorney's fees; the transaction was paid for with a short term first mortgage of $600,000 and the balance of $1,325,000 plus costs were paid in cash with a non interest bearing loan by IBAC Corporation President Edward W Hayter.
The property has an approximate initial (as is) appraised value of $3,500,000 thus giving the company an immediate equity of approximately $1,500,000 towards its balance sheet along with increased revenues to the company from room rates and the restaurant.
Didn't realize Ed would be putting up the cash himself. No wonder he was thinking of bringing the company private.
1.5M in free equity and we're still at .0002. I thought for sure this would raise it to .0005.
Hmmm, and where do you think Ed got the cash from??? 1.5 Billion shares to 11.5 Billion. Can you beep, beep, back up the dump druck. At least he is probably done for now since the A/S is 12.2 Billion.
Posted by mikensay on :
Leardron,
You're killin me.LOL.
What's your thoughts on the next few weeks?
Posted by nyinvest on :
quote:Originally posted by Leardron: Hmmm, and where do you think Ed got the cash from??? 1.5 Billion shares to 11.5 Billion. Can you beep, beep, back up the dump druck. At least he is probably done for now since the A/S is 12.2 Billion.
There is the problem. What makes up those 11.5B shares? Do they include the "restricted 6.5B" ? Does the T/A report shares even if they don't exist but traded? Until the composition of those 11.5B shares is clarified, there are big unknowns.
The second problem is with the cash for the Hotel theory. Ed would have had to buy all those shares and then sell them back into the market to get cash in his name legally. He can't just sell ICAN stock and pocket the cash personally. If you assume the 6.5B are included in that 11.5B and take away the 1.5B previous, that leaves only 3.5B shares. You would need better than .0004/share to get $1.5M.
Really, I don't think there are any answers as there are way too many variables still unknown. The unknowns are just fuel for speculation that something shady is taking place inside ICAN.
I still hold that for ICAN to graduate from being a pink sheet, it needs to stop acting like a pink sheet and shed as many pink sheet investors as it can along the way. The negative speculation as to wrong doing in the company is a self fulfilling prophesy manifested in the stock price.
Posted by justplayin on :
NY, unfortunately your theory applies to most stocks on every exchange. The only true measure of a companies worth is their financials and your belief in the current management.
Look at EDS a couple years ago. They had record sales, but most of their contracts cost 10% more to complete than they were getting. The stock soared until the investors realized that the company was losing money on almost all their contracts.
The only thing ED and ICAN can do to slow the speculation is to report financials.
Posted by TraderTom on :
There's an some kind of improvement in the PPS today in the sense that we haven't seen any 0.0001 trades all day. Has anybody gotten a fill at 0.0003?
Posted by Leardron on :
quote:Originally posted by mikensay: Leardron,
You're killin me.LOL.
What's your thoughts on the next few weeks?
It all depends on what Ed decides to PR. Personally, there is nothing else big on the Horizon except acquiring the next Sanibel in September. So I expect it to hang around .0002 to .0003 until then.
One thing that will change that is if he actualy PRs the ungaging of the T/A and explains what the breakdown of the O/S is. The other one is if he actually files financials for the last quarter. Any thing like that and this will start moving up.
Don't hold your breath on becoming fully reporting though until at lest next year. Once he gets all the Sanibels acquired.
Posted by Leardron on :
Wow, no one posted since I did yesterday. Not much interest out there right now.
Posted by NomarKash on :
quote:Originally posted by Leardron: Wow, no one posted since I did yesterday. Not much interest out there right now.
There is plenty of interest. Just not much to talk about Posted by bond006 on :
leardron plenty of interest we are just waiting for ed's next move
Posted by WinsumLosesum on :
IBAC Corporation to Commence Renovations Immediately on Its Newly Acquired Memphis Airport Hotel & Restaurant Business Wire - July 06, 2005 09:22
MEMPHIS, Tenn., Jul 06, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN:PK) today announced that they will start immediately on renovations to upgrade and enhance its recently acquired Memphis Airport Hotel & Restaurant.
The Company has budgeted $1,000,000 for the renovations that will include a new roof, exterior painting of the buildings, new fencing, exterior lighting, landscaping, signage, interior improvements and upgrades, air conditioning systems, certain inventories etc. along with certain renovations to the restaurant.
"We are undertaking these renovations immediately to bring the property up to like new status, even though the property is less than 10 years old we want to have all aspects of it 100% so that it will enhance the properties value significantly while providing the most pleasurable stay for our quests." Said Garry Becker, President of Hospitality Operations
The Hotel is part of the Ramada system and enjoys their worldwide reservation system, as Memphis is a highly visited area for tourists with such attractions as Elvis Presley's Graceland, The Beale Street Entertainment District, The Blues Foundation, Opera Memphis, Memphis Ballet, BB Kings Blues Club and much more the company wants this property to be in the top of its class for the market added Mr. Garry Becker.
The Memphis Airport Ramada Hotel & Restaurant are 2 separately deeded parcels. The Hotel is a 128 room Hotel located adjacent to the Memphis International Airport and 2 miles from the world famous Elvis Presley's Graceland. The property contains approximately 70,293 sf, and was constructed in 1986. It is a six story interior corridor hotel in superb condition and is situated on 1.548 acres. The restaurant is approximately 5100 sf and was also built in 1986 and is situated on .992 acres. Some additional features of the property include an outdoor pool & patio area and 182 parking spaces.
With the addition of this acquisition IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC Corporation is a New York based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant Industries. Visit the company website at www.ibaccorp.com Posted by Leardron on :
1 million dollars budgeted. I guess that means, get ready for the remaining 800 Million shares in the O/S to get dumped.
Also, How is the fact that it was built in 1986 correspond to only being 10 year old????
Posted by ACKCANE on :
Fuzzy math I guess . . . Does that surprise you?
Posted by Leardron on :
quote:Originally posted by ACKCANE: Fuzzy math I guess . . . Does that surprise you?
Nope, not in the least. Posted by Leardron on :
Okay, put in an order to dump all my shares at .0006. think they will take it, LOL.
Posted by TalonSin on :
If anyone really getting filled at .0001 ???
Posted by ya ya on :
you can sell it for .0001 - lol
Posted by noah129 on :
well my order to buy 3 million at .0001 is not filling if that says anything to you other investors out their.im still holding 17 million long and strong not selling any of them.be patient and time will tell.
Posted by TalonSin on :
Thanks Noah, how long have you had that order in?
Posted by Leardron on :
Man, volume is low but at least we aren't seeing those 9 Million blocks going through at .0001 anymore.
Posted by ACKCANE on :
not yet anyway.
Posted by farmgirl on :
We are now at .0001 How can news make this thing go down?
Posted by Leardron on :
quote:Originally posted by farmgirl: We are now at .0001 How can news make this thing go down?
Well news about doing a million dollars worth of renovations is not good against the bottom line, at least in the near future.
Posted by bond006 on :
for some reason al this thing does is tank i know that we are diluted and also have been nss but all taken into consideration there is more value there i guess the market will realize it some day when the confidence comes back into this company
Posted by farmgirl on :
I know. But how much equity is there in the place. Also renovations make a place more desirable.
Posted by B on :
I'm in ICAN for the long hual. Nice to see assets and revenues in a pink. Now if Ed can't get this company or shall I say the pps where it should be then hopefully some corporation, or smart investor will take it over!! ED has a diamond in the rough and if he doesn't know how to make it shine hopefully someone who sees the potential will.
Without knowing the break down of the O/S, at 11 billion with a pps of .0001 the float can be bought for 1.1 million.
Great deal with the assets that ICAN hold. There's 1.5 million in equity on the Memphis property alone.
IMHO I don't know if Ed is the right person to run ICAN. He has yet to prove himself.
---------------------- Boards don't hit back!!
Posted by B on :
I'm in ICAN for the long hual. Nice to see assets and revenues in a pink. Now if Ed can't get this company or shall I say the pps where it should be then hopefully some corporation, or smart investor will take it over!! ED has a diamond in the rough and if he doesn't know how to make it shine hopefully someone who sees the potential will.
Without knowing the break down of the O/S, at 11 billion with a pps of .0001 the float can be bought for 1.1 million.
Great deal with the assets that ICAN hold. There's 1.5 million in equity on the Memphis property alone.
IMHO I don't know if Ed is the right person to run ICAN. He has yet to prove himself.
---------------------- Boards don't hit back!!
Posted by Doctoall on :
July 06, 2005 08:03 PM US Pacific Timezone
CORRECTING and REPLACING IBAC Corporation to Commence Renovations Immediately on Its Newly Acquired Memphis Airport Hotel & Restaurant
CORRECTION...by IBAC Corporation
MEMPHIS, Tenn.--(BUSINESS WIRE)--July 6, 2005--The third graf should read: "We are undertaking these renovations immediately to bring the property up to like new status, even though the property is less than 20 years old we want to have all aspects of it 100% so that it will enhance the properties value significantly while providing the most pleasurable stay for our guests," said Garry Becker, President of Hospitality Operations (sted xxx even though the property is less than 10 years old, and sted xxx pleasurable stay for our quests).
The corrected release reads as follows:
IBAC CORPORATION TO COMMENCE RENOVATIONS IMMEDIATELY ON ITS NEWLY ACQUIRED MEMPHIS AIRPORT HOTEL & RESTAURANT
IBAC Corporation (ICAN:PK) today announced that they will start immediately on renovations to upgrade and enhance its recently acquired Memphis Airport Hotel & Restaurant.
The Company has budgeted $1,000,000 for the renovations that will include a new roof, exterior painting of the buildings, new fencing, exterior lighting, landscaping, signage, interior improvements and upgrades, air conditioning systems, certain inventories etc. along with certain renovations to the restaurant.
"We are undertaking these renovations immediately to bring the property up to like new status, even though the property is less than 20 years old we want to have all aspects of it 100% so that it will enhance the properties value significantly while providing the most pleasurable stay for our guests," said Garry Becker, President of Hospitality Operations.
"The Hotel is part of the Ramada system and enjoys their worldwide reservation system, as Memphis is a highly visited area for tourists with such attractions as Elvis Presley's Graceland, The Beale Street Entertainment District, The Blues Foundation, Opera Memphis, Memphis Ballet, BB Kings Blues Club and much more the company wants this property to be in the top of its class for the market," added Mr. Garry Becker.
The Memphis Airport Ramada Hotel & Restaurant are 2 separately deeded parcels. The Hotel is a 128 room Hotel located adjacent to the Memphis International Airport and 2 miles from the world famous Elvis Presley's Graceland. The property contains approximately 70,293 sf, and was constructed in 1986. It is a six story interior corridor hotel in superb condition and is situated on 1.548 acres. The restaurant is approximately 5100 sf and was also built in 1986 and is situated on .992 acres. Some additional features of the property include an outdoor pool & patio area and 182 parking spaces.
With the addition of this acquisition IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC Corporation is a New York based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant Industries. Visit the company website at www.ibaccorp.com
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contacts
IBAC Corporation Investor Relations, 718-891-8188 Fax: 775-320-5437 IR@ibaccorp.com
Posted by bond006 on :
not much volume today slow
Posted by NomarKash on :
quote:Originally posted by bond006: not much volume today slow
heavy vacation week. but 8MM shares? that's very low! i can't get a fill at .0001, anyone else?
Posted by stickfigurefred on :
MEMPHIS, Tenn., Jul 07, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN:PK) today announced that it has entered into negotiations with Denny's Restaurants for a franchise and has submitted the required application for its Memphis property.
Denny's(R) is the most recognized name in family dining providing good food and service for more than 50 years. With approximately 1,600 restaurants across America and system wide sales of more than $2 billion, Denny's is the largest full-service family restaurant chain in the United States.
Denny's restaurants offer a casual dining atmosphere and moderately priced meals served 24 hours a day at most locations. Denny's is well-known for its breakfasts served around the clock, including the popular Original Grand Slam(R). Denny's menu also features a variety of appetizers, hamburgers, sandwiches, salads, chicken, steak and seafood entrees as well as desserts.
Specialty menus for health conscious guests feature low-carb and low-fat offerings. The chain also offers customers age 55 and over selections at special prices and children 10 and under a specially priced menu. In addition, Denny's offers free refills on coffee, tea, soft drinks and lemonade.
At year end 2004, there were 1,603 Denny's restaurants: 553 were owned and operated by the company and 1,050 were operated under franchise and licensing.
"We had originally decided to utilize the restaurant on the property as a Sanibel Steakhouse, after further market research we have determined that a Denny's 24 hour restaurant would be more lucrative for the company. The Memphis property has a traffic count of over 85,000 vehicles per day and is located adjacent to the Memphis Airport and just 2 miles from Graceland. A substantial number of Limited Service Hotels are in the immediate area without access to food on a 24 hour basis thus making this an ideal location for a restaurant of this type," said Garry Becker, President of IBAC's Southern Hospitality Division.
IBAC Corporation is a New York based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant Industries. Visit the company website at www.ibaccorp.com. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Copyright Business Wire 2005
Posted by Bigrod40 on :
Reminds me of QBID "fluff PRs"
LOL
Posted by stickfigurefred on :
I think Denny's is a much better move, 24/7 compared to Sanibel Steakhouse. I can see some profits from this one.
Posted by nyinvest on :
If the "shareholders" hold true to form, they should be flooding the Denny's office with demands for information. I'm sure Denny's will be real happy about that. Ramada already has had to deal with them.
The next step would be calling ICAN a scam and Ed a liar because he said the Memphis restuarant would be a Sanibel and this is just another way to move assets out of ICAN and into his name while making the shareholders pay for it.
I'm sure there will be some other amazing discoveries and profound insight from these investors.
Posted by Mike White on :
Remember this will be real close to the Memphis Airport. I think this is a wise move to have a Denny instead of a steak house.
Can someone ask Ed if share holders will get 1 free meal at dennys as a type of dividend?
=)
Posted by rickpic on :
quote:Originally posted by nyinvest: If the "shareholders" hold true to form, they should be flooding the Denny's office with demands for information. I'm sure Denny's will be real happy about that. Ramada already has had to deal with them.
The next step would be calling ICAN a scam and Ed a liar because he said the Memphis restuarant would be a Sanibel and this is just another way to move assets out of ICAN and into his name while making the shareholders pay for it.
I'm sure there will be some other amazing discoveries and profound insight from these investors.
the exact reason I no longer post on any ICAN thread! I'll just sit back with my 92m shares and wait as I should!
Rick
Posted by stickfigurefred on :
Exactly, the flowthru alone at a denny's in that location will be awesome.
Posted by TalonSin on :
With Dennys serving both breakfast and dinner choices 24 hours it is a much better fit next to a hotel than just having a steakhouse. Most big hotels have a Dennys type place next door, this is a proven money making strategy.
I see this as Ed looking outside the box. It is a sound business decision and makes me feel even better about being a shareholder.
Posted by Leardron on :
Ed has always been smart as far as the business side goes. I also think Denny's is a good move (with a 1.2 to 1.7 Million dollar price tag).
But he has done nothing but lie and screw with the shareholders about what he was and is doing for the shareholders. I am tired of being his purse for all of this and end up with nothing in the end. Anyone just tell me what Ed has done or followed through with as far as the shareholders are concerned? And don't say the stupid 15% stock dividend which did nothing but dilute the O/S further. When is Ed going to take care of the shareholders???
Posted by ACKCANE on :
This actually makes me feel a little better. A steakhouse would never have worked or fit in that space. But I'm still worried a bit because it appears they are flying by the seat of their pants. Some of this should have been worked out in advance. You don't just buy a place and then decide the place you bought isn't right for what you intended it for. It's rather stupid actually.
Posted by mikensay on :
quote:Originally posted by ACKCANE: This actually makes me feel a little better. A steakhouse would never have worked or fit in that space. But I'm still worried a bit because it appears they are flying by the seat of their pants. Some of this should have been worked out in advance. You don't just buy a place and then decide the place you bought isn't right for what you intended it for. It's rather stupid actually.
You're right on ACKANE. Either they are not doing good dd or they have a bunch of advisors talking to them in different circles.
Posted by Allen on :
I was looking forward to the Sanibel in Memphis, but I agree that the 24/7 would be better for profits. I have been to this location and what Ed said makes perfect sense. I still believe that this company will make money and am standing with my shares until it goes up. We're at the bottom so it has to either go up or away.
Posted by ACKCANE on :
Makes you wonder if Ed knows what is required in obtaining a franchise for a restaurant. For those that don't know . . . It's not cheap!
Posted by bond006 on :
thats one of the better moves ed has made a denny's is right for what he has there
Posted by mikensay on :
quote:Originally posted by ACKCANE: Makes you wonder if Ed knows what is required in obtaining a franchise for a restaurant. For those that don't know . . . It's not cheap!
It's really not that bad of an investment if you consider the cost associate for other franchise operations. I got this off their site.
What is the term of a Denny’s franchise? Twenty (20 years) from the date of opening of the restaurant.
How much is the initial franchise fee for a Denny’s franchise? The initial franchise fee is $40,000.
What are royalties and advertising fees? The royalty is 4% of weekly gross sales. The advertising fee is 4% of weekly gross sales.
Posted by kptmoe on :
i am now officially selling every penny of my dear ican stock==time to cut my losses==glta==ive had enough after this drivvle
Posted by bond006 on :
another one ready for the looney bin boy penny's are just like a war you never know and the standard rules don't apply
Posted by WinsumLosesum on :
IBAC Corporation Appoints Mr. Lindy Von Frizzell New General Manager for Its Just Acquired Ramada Memphis Airport Hotel Business Wire - July 08, 2005 08:59
MEMPHIS, Tenn., Jul 08, 2005 (BUSINESS WIRE) -- IBAC Corporation's (ICAN:PK) Southern Hospitality Division today announced that it has appointed a new General Manager for its recently acquired Ramada Memphis Airport Hotel.
The company appointed Mr. Lindy Von Frizzell as general manager of the Memphis Ramada Airport Hotel. As general manager Frizzell will oversee the successful management of the hotel, including operations, sales and marketing, associate services and guest satisfaction.
Frizzell brings more than 19 years of hospitality industry experience to the Ramada Memphis Airport Hotel. He most recently served as general manager for the Hampton Inn in Memphis and earned numerous awards for his achievements. He also has held the position of general manager at the Hampton Inn (A Hilton Hotels Franchise) in Norcross, Ga. and has won the Desoto Times award twice. Mr. Frizzell holds a B.S. - Business Administration, University of Arkansas 1992 and has completed training in Hampton Inn General Manager Training, Holiday Inn General Manager Training and Holiday Inn Sales and Loss Prevention Training.
"We are very pleased to bring on board Mr. Frizzell as he has the credentials and ability that we require for our operation, and it is a clear indication of our company's plan going forward to be able to attract the caliber of management that we require," said Garry Becker President IBAC Corporation Southern Hospitality Division.
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant Industries. Visit the company website at www.ibaccorp.com. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Copyright Business Wire 2005
Posted by NomarKash on :
Not bad, Frizzell knows the area, the way things work. 19yrs experience is pretty good.
That's 4 PRs in the past 4 days.
Posted by bond006 on :
i think that is great frizzell sounds like he can turn a buck things are looking up for us now i think time will be on our side
Posted by nyinvest on :
"Southern Hospitality Division" ? That's new.
Posted by obey on :
Has anybody been able to get in at .0001?
Posted by farmgirl on :
Well we did not go up today but we did not go down either. We will see what Monday has in store.
Posted by TalonSin on :
Obey, I dont think there are many getting filled at .0001 I just freed up some funds and Monday I'm gonna start putting in a bid at .0001 and see if i can get some at that price. I want to see if i can make some money playing the .0001-.0002 gap. I'll let you know next week if I get a bite at .0001
Posted by noah129 on :
i have had an order for 3 million shares @ .0001 that has been sitting for days.i of course am trying to add to my current position.i dont know why but for some reason i blindly believe that one day ican will payoff fairly well.i have been scammed so many times in pinksheet stocks that i dont mind losing hehehe.best of luck to all you out their.
Posted by Durple on :
TOTAL AUTHORIZED SHARES AS OF 6/30/05 12,200,000,000 ISSUED AND OUTSTANDING SHARES AS OF 6/30/05 11,419,062,525
Currently almost 350k a month revenue would make them a 4.2mil company if based on sales. They currently are valued at 2.2mil. When they start bringing in a mil a month which i wouldn't see why it would be possibe then that would be good news with the outstanding shares then we could get some uptrend
Posted by mikensay on :
quote:Originally posted by Durple: TOTAL AUTHORIZED SHARES AS OF 6/30/05 12,200,000,000 ISSUED AND OUTSTANDING SHARES AS OF 6/30/05 11,419,062,525
Currently almost 350k a month revenue would make them a 4.2mil company if based on sales. They currently are valued at 2.2mil. When they start bringing in a mil a month which i wouldn't see why it would be possibe then that would be good news with the outstanding shares then we could get some uptrend
I'm curious where you got the 350K number from? I haven't seen that one before and financial data isn't all that readily available.
Thanks!
Posted by nyinvest on :
June 13th PR.
"revenues for the month of May for The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites of $326,418.27 combined"
Posted by mikensay on :
How pathetic am I. I've read that PR a few times. It never registered.
Thanks
Posted by imakmony2005 on :
TIME THATS ALL.UP UP UP
Posted by farmgirl on :
Did we have any damage to any of our investments with Hurricane Dennis?
Posted by Ric on :
Did they really dump that many shares to O/S while promising a buyback??? Wow
As I stated before. Those are GROSS revenues not net. If 10% is profit they are lucky. So to say its a 4.2 million a year isn't right. Even if they did grow to a 1 million a month with this types of business and huge overhead they still would be only bringing in around a couple million net profit in a best case.
quote:Originally posted by Durple: TOTAL AUTHORIZED SHARES AS OF 6/30/05 12,200,000,000 ISSUED AND OUTSTANDING SHARES AS OF 6/30/05 11,419,062,525
Currently almost 350k a month revenue would make them a 4.2mil company if based on sales. They currently are valued at 2.2mil. When they start bringing in a mil a month which i wouldn't see why it would be possible then that would be good news with the outstanding shares then we could get some uptrend
Posted by TalonSin on :
If anyone gets filled at .0001 could you let us know
Posted by stickfigurefred on :
I'm tryin haha, no fills yet.
Posted by noah129 on :
ive had an order in for days no fill @.0001.best of luck to you all.
sincerely noah.
Posted by TalonSin on :
I dont quite understand how sometimes the price hovers at .0001 and the volume will increase by the millions and the price does not go up and no one seems to get filled at .0001
Is this some MM thing?
Posted by ya ya on :
Usually it's because the O/S is so high like in the billions it takes a lot for this to move even .0001
Posted by nyinvest on :
Just for kicks I had a buy 20M @ .0001 as well as a sell 20M @ .0002.
No bites over the 3 days they were out there.
I'm moving on and just going to hold what I have here so far. Maybe it will move if Ed is for real. If not, I'm not sure I could even get out at this point so there isn't anything I can do anyways.
Need to find some other stocks to buy so they can go down.
Posted by bond006 on :
same nyinvest just going to hold my shares to hard to sell right now and who knows in 6 months maybe really have something here if ed is for real like you say
Posted by TalonSin on :
Anyone have any level 2's for this? I dont see anything going through now that it's hit .0001 again but I would be interested to see whats waiting...
Posted by noah129 on :
i guess that is the descision we have all made by staying in this this long.i have 17 million and no sell orders in for this .the activity seems so boring on ican lately i think most investors just decided to move on from this stock.
Posted by bond006 on :
as a matter of fact for one of the first times in my life i am almost 100% invested every thing i have bought i am going to hold for a while i am not turning and for pinks that is sure not like me usally turn and earn but every thing i own just seems to stay there wiyh very little movement glta and that includes the 20million share of this
Posted by noah129 on :
right on bond keep the faith i like that style.right now for me as well i am fully invested and not flipping any of my pink sheets stocks or options plays im in.i may be crazy but im holding on for the long hual.
17 million long and strong plus an open order to buy at .0001 still not filling if that says anything to you out there.
Posted by TraderTom on :
I've had a buy order in at 0.0001 for about 10 days, which has not been filled. I'm sure only MMs are getting filled right now - they buy at 0.0001 and sell at 0.0002.
Posted by TalonSin on :
Someone must be getting filled, about 25 million share volume and the price is still .0001
Posted by Allen on :
I wonder if the MM's are trying to buy to cover the NS? Maybe we are about to see the upward movement that this company should have....
Posted by stockaholic on :
I take a week off and nothing has changed I see. The Denny's news sounds like a good move but still we sit. Please someone tell me why I'm holding this again. If I wanted this kind of torture I could have bought PRRM. LOL! Damn this is discouraging.
Posted by farmgirl on :
Potential This stock has the potential to be great. (just my opinion)
Posted by TalonSin on :
I dont know exactly whats going on. I see millions of shares trading every day at .0001 but none of us get filled. I think once this plays out things will get better. I wish I could say when but with all the assets these guys have the price will have to go up sooner or later.
I still see huge potential for this one someday. I'm in for the long haul, I want these guys to pay for my sons college education, he's only 13 weeks old so I have plenty of time.
Posted by farmgirl on :
Well my son is 6years old so I do not have as long but I have plenty of time to wait also.
Posted by WinsumLosesum on :
IBAC Corporation Retires 625M Common Shares & Approves Additional Share Buyback Business Wire - July 13, 2005 16:09
NEW YORK, Jul 13, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK) today announced that 625,676,008 Million Common Shares have been retired effective at the opening of business tomorrow. IBAC also announced that the company has approved an additional buyback of up to $500,000.00 of its common stock on the open market over the next six months.
The company has budgeted the $500,000.00 over the next six months out of operating revenues and does not expect it will cause any adverse effect on operations. The projected revenues for July at The Company's Royal Arkansas Hotel are expected to be at a five year high along with better than expected revenues of the recently acquired Memphis Airport Ramada along with other company operations, the company feels that the budget is achievable.
"The company will continue to implement its aggressive growth plan while enduring start up and rapid growth pains, in just nine short months the company has gone from a dormant non operating company to over 100 employees in three states, we will continue to grow our assets & revenues and achieve all of our stated goals." Said Edward W Hayter President & CEO of IBAC Corporation
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants/lounge (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com Posted by stickfigurefred on :
WOOHOO!
Posted by Mack on :
good news!!!!
Posted by stickfigurefred on :
Thanks Ed!
Posted by Mike White on :
"625,676,008 Million Common Shares" is that like 625,676,008,000,000???
I think they ment "625,676,008 Common Shares"
=)
Posted by ACKCANE on :
OK - so there are 11,500,000,000 shares now instead of 12,200,000,000 . . . SO?
Posted by bond006 on :
its a start
Posted by nyinvest on :
Do some math.
IF this comes to pass, @ .0002 that means ICAN will retire over 3B shares by year end.....
Now, we need a clear picture of what the share structure currently is. If those 6B+ restricted shares are still in Ed's hands, the float would drop back to the 2B level. If the revenues work out.. Oh to dream.
Thank you Ed. Made my day.
Posted by rickpic on :
Hmmm my shares are looking better all the time! I guess Ed's been buying a few shares in the open market, and he's gonna keep buying at a super discount! Nice!
Posted by nyinvest on :
Explains the 4:00pm ask rising to .0003 too.
Posted by ACKCANE on :
Why would he announce that he is going to be buying more on the open market? Why didn't he just do it at this super discount rate???
Posted by Ric on :
They did a great job. Sold (diluted) 6 billion shares when the pps raised causing the pps to plummet and alone with the shareholders profit. Then buyback 625 million shares after its at .0001-2. Looks like they are really looking out for us. How many billion shares will they sell to cover the 500 million buyback.
Posted by mikensay on :
TOTAL AUTHORIZED SHARES AS OF 7/14/05 12,200,000,000 ISSUED AND OUTSTANDING SHARES AS OF 7/14/05 10,793,385,517
If he buys back $500,000 worth of additional shares while it is still low, we should see the OS around 8.2B which should put a lot of pressure to get this thing moving.
Posted by Mike White on :
Someone better contact the admin of the Board and get them ready to move this thread to the "Stocks, Over $0.10" section!
=)
I wish...
Posted by mikensay on :
We really need to see the company become fully reporting and then move to another exchange. It would be nice to see that by the end of the summer.
Posted by imakmony2005 on :
real nice.
Posted by stickfigurefred on :
I agree, we need an audit and an exchange move to get this baby really flyin. We are moving in the right direction at least. Tightening up the shares, and some of the latest decisions to go with Denny's I think will really help this company. IMHO
Posted by tntrader on :
Day dream believers la la, la la la.
Just kidding, well not really, but I am on the boat with you all and hope that your optimism rings true.
GLTA Posted by noah129 on :
this sounds interesting are any of you adding or have we boughten enough already and we are just waiting to see if any of this actually gets this stock out of the basement.i know my order to buy 3million at .0001 has not gone through at all.i may just try and add a bit more at .0002 just to see if i am a bigger sucker than i am already.i truly hope that ican one day will pay off for many of us but i have become a bit of a skeptic. i think ican , i think ican hahaha.
i love pinksheets they are the best.
Posted by Mike White on :
Please note how they worded this PR
"approved an additional buyback of ****UP TO**** $500,000.00 of its common stock"
Who knows how much they will really buyback... I do look forward to higher volume and a slight increase in price tomorrow. Good luck all!
Posted by rickpic on :
IBAC Corporation to Further Reduce Authorized Shares & Issued and Outstanding Simultaneously 7/14/2005 8:05:01 AM NEW YORK, Jul 14, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK) today announced that in addition to yesterdays announced 625,676,008 Million of Common Shares being retired effective today at the opening of business, and the approved additional buyback of up to $500,000.00 of its common stock on the open market over the next six months, it will now also reduce the authorized shares by 1 Billion immediately. (Pending filings with Delaware by counsel.)
The company intends to purchase as many shares as possible on the open market over the next six months with its budget of $500,000.00 and will simultaneously reduce its authorized shares equal to the purchased shares in equal amount blocks. This process is being taken to bring the share value inline with the company's true worth.
The company's Sanibel Restaurant Group Unit will undergo its first six month audit (IBAC has only owned it since January 4, 2005) next week followed by The Royal Arkansas Hotel (IBAC has owned it 1 year at the end of August), the newly acquired Memphis Airport Ramada and the second Sanibel Steakhouse in Bonita Springs (closing at the end of August) audits will be ordered and integrated when needed. This action is being taken to position the company for its anticipated move to the OTCBB.
"The company will continue to implement its stated objectives and goals aggressively and will not waiver, this is a fledging company with a great future and we will continue to follow our plan. We have built this company while enduring start up and rapid growth pains, in just nine short months to a company that has gone from a dormant non operating company to over 100 employees in three states, I have personally invested over 3.5M cash in this company and am the largest shareholder and I am committed to the company's success, as I have stated we will continue to grow our assets & revenues and achieve all of our stated goals," said Edward W. Hayter, President & CEO of IBAC Corporation.
Posted by porterhallpi on :
Looking goood Posted by noah129 on :
wow this may actually be the pr we have been waiting for to get us out of the basement again. what do ya think ric is this for real or are we about to get scammed.to me it sounds like the real deal.im still holding and maybe i might even add a bit if ican get in for .0002 today.
Posted by rickpic on :
All I know is that I am a long in this stock and what happens today, tomorrow or next week is just part of the long term picture!
92m shares holding long!
Posted by Leardron on :
Wow, I haven't been watching this since the close and read both PRs. Maybe Fast Eddie is finally deciding he better start doing good by the shareholders.
It is funny though how this is coming out after a little "birdie" told me he was sent a letter from a lawyer representing some share holders about possible criminal litegation, hahaha. It was sent last Tuesday and here we are.
That is all I am going to say on the subject. Let's see what happens now to the PPS. LET'S GET THIS PIG ROLLING.
Posted by stockaholic on :
OK, now we're cookin' I certainly feel a lot better about this than I did yesterday morning. Looks like he's actively trying to work on the real problem now. Kick this thing in the ass!!
Posted by nyinvest on :
I agree we need to see these things actually happen.
Too bad we didn't get more than "I am the largest shareholder".
Leardron has a point in that they may have been "influenced" in their decision to take these initiatives.
To me, the best news is the reduction in A/S. Especially going forward.
If this was a plan, it was a good one. Dump the shares for .0002-.0007 and then buy them back at .0001 and retire them. Ed might just look like a genius when this is all over. Ok, maybe I won't go that far....
I'm happy for now. They bought time in my book to get some other things done but I think we need to see consistent progress and not be treated like mushrooms.
Posted by ACKCANE on :
Ok, I'm happy too, but .... Why the two PR's? I like the idea, but it's just like the real estate deal in Memphis with the restaurant. It doesn't appear to be thought out very well.
Posted by bond006 on :
i am with you leardron i don't want to fight anybody i want ed to do what is best for share holders and company alike. after all what we want is a return on our investment that we let ed use we are part of this to and it seems like its our turn we have all held on long enough watching this pig tank with all the good pr gagged t/a and a bunch of blue sky being pumped up our a** . lets see a return for our efforts and bury the hatchet. and don't take it out unless we really need to.
Posted by NomarKash on :
.0003, bring it.
Posted by noah129 on :
just a thought im now trying to buy 3 million at .0002 and no fill.i hope to get in as i think we may now be heading back to old resistance levels of .0004-.0007. a break above .0007 and i think we may be off to the races yahooo.
i think ican i think ican.
Posted by ya ya on :
lets hope - i would be happy with .0004 to start
Posted by Leardron on :
It's all going to depend on what the shareholders do that got in at .0001 and .0002. I think we are going to be in this range for a while because they will probably be selling off for a double or triple depending.
Posted by noah129 on :
well nobody seems to be selling for .0002 as of right now or if they are they are just selling to market makers cuz im not getting any fillon my order to buy in at .ooo2.
Posted by stockaholic on :
Does anyone have l2s
Posted by noah129 on :
folks if the volume stays at these levels today we could see over half a billion shares traded which will bring in alot of new investors i think.
Posted by Leardron on :
2 x .0002 9 x .0003
Posted by Leardron on :
Just on a side note. The T/A has been called and it has been verified that the O/S has dropped from 11.4 Billion down to 10.8 Billion (rounded). Guess we will wait and see about the drop in the A/S.
Posted by stockaholic on :
thanks L
Posted by ACKCANE on :
What does the pps have to be to move to the OTCBB and for how long does the stock have to average that pps?
Posted by Leardron on :
quote:Originally posted by ACKCANE: What does the pps have to be to move to the OTCBB and for how long does the stock have to average that pps?
From what Ed told us a while back, it actually doesn't have to do anything with the pps. It has to do with the dollar amount of assets, plus the amount of net revenue you are showing. I forget what the numbers were but from what he was saying they already have what they need for the dollar value of the assets but it's the net revenue figure that they are having a problem covering. That's why I don't see us going to a bigger board until we get the other 2 sanibel restaurants which the last one won't be in our possession till next year.
Now that doesn't mean he still cannot file financials. He can still file financials at anytime with the sec and that will give this stock some validity.
Posted by justplayin on :
FYI,
Listing Requirements of the Over the Counter Bulletin Board - OTCBB --------------------------------------------------------------------------------
The stated and un-stated listing requirements for the OTCBB are as follows:
fully reporting with the Securities and Exchange Commission, not a blank check or inactive company, minimum of 40 stockholders of record holding at least 100 shares each (note: this number is informal and has been moving up), directors, officers, and stockholders will be scrutinized for previous involvements in other OTCBB companies, in particular blank check companies, must have a market maker submit 15c211 application to NASD and agree to act as market maker for securities of company.
Posted by Leardron on :
Actually I think my scenerio was for Nasdaq small caps. That is the market Ed has been eyeing to move to.
Posted by Leardron on :
Level II
4 x .0002 8 x .0003
The big news on this is that HDSN has moved off to .0005 on the ask. He's been the play maker in this stock.
Posted by ACKCANE on :
"That is the market Ed has been eyeing to move to."
? From a previous PR?
Posted by Leardron on :
quote:Originally posted by ACKCANE: "That is the market Ed has been eyeing to move to."
? From a previous PR?
In a conversation one of the guys had with Ed over a couple of months ago, he was explaining what was Market he wanted to move to and what it would take to move the company there.
Posted by justplayin on :
If Ed could pull this off, we will all be rich $$$$$$$$
Yea, there is the assets and revenue requirements he was talking about.
Posted by ACKCANE on :
OK, but why the PR stating the OTCBB? More double talk?
Posted by noah129 on :
just bought in for .0003 i got scared that this may be the last time we see these prices for a while.their will always be profit takers along the way driving the price down but i am now convinced that we are going to go sideways and up for the next few weeks to months.
19 million long strong and possibly accumulating more.
Posted by Leardron on :
quote:Originally posted by ACKCANE: OK, but why the PR stating the OTCBB? More double talk?
Could be or maybe he finally realized that it is going to be almost impossible to move to the Nasdaq Small Caps in the near future. I missed that part in the PR. I would go by the PR, especially since that conversation was two months ago.
Posted by justplayin on :
IMO, it is called CYA!
If Ed were to publicly state that he was going to Small Caps and he failed, who know what ramifications that holds.
OTCBB is EASILY attainable and if he is able to go higher, then it is a bonus for all.
Posted by Leardron on :
level II
6 x .0002 6 x .0003
Their starting to move off.
Posted by noah129 on :
the order filled immediately for .0003 (buy) just wanted to share this in case anyone else is buying into this news.
Posted by noah129 on :
move off the bid or ask ? sorry im sorta a fool sometimes.to me it looks like more market makers are going to the bid is this correct?
Posted by Leardron on :
quote:Originally posted by noah129: move off the bid or ask ? sorry im sorta a fool sometimes.to me it looks like more market makers are going to the bid is this correct?
Sorry, I meant moving off the ask.
Posted by noah129 on :
leardron this is a good thing ya? we want them to need our shares in order for the pps to increase. please longs out their hold on strong dont flip for measily little profits.the real money comes in riding this stock up to .0007-.001.sure if you avged down big enough you can probably sell in the next day or so for .0003 and make a few bucks but if the volume on the buy side stays strong and we dont sell we could see the short squeeze of the century maybe.best of luck to you all.my shares are on lockdown.
Posted by Leardron on :
quote:Originally posted by noah129: leardron this is a good thing ya? we want them to need our shares in order for the pps to increase. please longs out their hold on strong dont flip for measily little profits.the real money comes in riding this stock up to .0007-.001.sure if you avged down big enough you can probably sell in the next day or so for .0003 and make a few bucks but if the volume on the buy side stays strong and we dont sell we could see the short squeeze of the century maybe.best of luck to you all.my shares are on lockdown.
Yes, when the number off mms grow on the bid and get smaller on the ask, that means they are ready to move this up.
I agree, If we can break the .0004 barrier, this will really fly. All the resistance is down here in the .0002 to .0004 range. Once we break that, it will run to .001 pretty quick in my opinion. The problem is having the fuel to make it there. Ed will have to put out a few more PRs to keep it going.
Posted by DIGDOUGH on :
Hi yall, anybody know the a/s, o/s, float etc. on this.
Posted by noah129 on :
are any of you seeing the one minute charts on ican today.their has been three suspicious buys today . 2 of them for 19,999,999 and one for 19,999,998. just thought that too be a little bit interesting.
Posted by justplayin on :
quote:Originally posted by DIGDOUGH: Hi yall, anybody know the a/s, o/s, float etc. on this.
Check the previous page, it should all be there!
Posted by noah129 on :
hey digdough i thought you were strictly a qbidian hehehe just joking welcome aboard. ric seems to be the most informed that i have found on icans stock .according to what he has said he has alot of icans stock and is in it for the long haul.i think on the previous page it is stated what the a/s o/s and float is on ican.look back just one or two pages.
Posted by Leardron on :
quote:Originally posted by DIGDOUGH: Hi yall, anybody know the a/s, o/s, float etc. on this.
A/S is currently 12.2 Billion (due to be reduced to 11.2 Billion)
O/S is now 10.7 Billion (Not sure how much of that is restricted, 6.2 Billion is restricted according to the CEO but T/A won't break down the O/S)
Posted by noah129 on :
volume has dried up .maybe around 12 noon we will see a pick up again when the west coasters beging to rise and shine .best of luck to you all.
19 million says i think ican i think ican !!!
Posted by nyinvest on :
TRYING to be objective in this all which is a little difficult at times, I have a couple observations...
ICAN's PR yesterday and today both have the phrase " rapid growth pains". A few people have said this is a typo where pains=plans but I think the pains part is right. Things just don't go as you plan, things come up, better oppotunities present themselves.
Audits... realistically, anything less than 1 years worth of financials is weak at best. ICAN is young and assets don't have any track record. Snapshots of 1 or 2 quarters won't provide any realistic numbers. I can let the lack of audits slide at this point. Should get some ideas on some numbers by end of August. Like to see unaudited revenue numbers for June. Those should be available any day now.
I wish some of the people critical of the PRs and schecdule of events that have taken place would try to run a company themselves. Things just don't play out the way you think they will. You can make plans and, through no fault or omission of your own, have to change or postpone them.
Posted by justplayin on :
NY, I agree with the "pains" as many things can occur while growing a new company. We may actually take a backward turn in net revenue because of unforseen events.
But, I don't agree with the statement of unproven revenue expectations. These properties have been inexistance and potential revenue can be calculated with reasonable certainty. The company is in the business of buying undervalued ventures and managing them correctly to gain maximum potential. If we feel they can achieve maximum potential, then their plan will work and future earings can be predicted. JMHO
Posted by rickpic on :
IBAC Corporation Reports June Revenues 7/14/2005 12:46:01 PM NEW YORK, Jul 14, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK) today announced revenues for the month of June for The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites of $285,525.79 combined. These revenue figures are compiled from internal company accounting/bookkeeping and are subject to audit by the company's independent accountants/auditors.
For the month, The Sanibel Restaurant Group had slight decrease in sales over last month; the company attributes this to the seasonality of the location in Florida. The Royal Arkansas Hotel & Suites had a slight gain over last month.
The Royal Arkansas Hotels & Suites expect a significant increase in revenue for July as scheduled bookings & banquets are at a five year high for July. The company also expects additional increases in revenues from its Hotel operations in July from the newly acquired Memphis Airport Hotel.
The company expects (projects) July revenues from all operations to be from $450,000 to $500,000 for the month, a major increase over last month.
The company also expects a significant increase in revenues for the fourth quarter as it will be adding the next Sanibel location in August along with the recently acquired restaurant at the Memphis location and increased bookings at its Hotels
Posted by nyinvest on :
Speak of the Devil.. June Revs.
Posted by NomarKash on :
blank.
Posted by explorer186 on :
With the revenue they reported, the SP should be at least 0.004 even if they really have a 10 billion OS
Posted by TalonSin on :
Wish we knew how much of that revenue was profit???
Posted by nyinvest on :
Everything will be speculation until there are some real, verifiable numbers.
At this point, most information given points to a minimum share price of .0003.
Revenue looks to be $3.4M on the low end. That's just over .0003/share.
If you consider Ed claiming $3.5M his money + $500K buybacks and assume a value of $4M, you get just under .0004.
At .0003 you have a market cap of $3.2M.
If you take the Memphis hotel at $1.2M, Arkansas at $1.2M and restaurants at $300K each (x4) we should be at $3.6M or so in assets. That again is about .0003.
Seems like the stock is trading at it's conservative bottom value.
Posted by explorer186 on :
nyinvest come on man, give the stock a multiple of at least 8, which will make the SP 0.0032
Posted by nyinvest on :
quote:Originally posted by explorer186: nyinvest come on man, give the stock a multiple of at least 8, which will make the SP 0.0032
See? Now you made me start drooling.
Working on getting past .0005 for starters.
Posted by bond006 on :
nyinvest we each have the same goal .0005 maybe we should think big to glta
Posted by explorer186 on :
I don't think they will stall the price, which means they might be buying back less than 2 billion. The reason I think that is from this quote from today's PR:
++++++++++START++++++++++
The company intends to purchase as many shares as possible on the open market over the next six months with its budget of $500,000.00 and will simultaneously reduce its authorized shares equal to the purchased shares in equal amount blocks. This process is being taken to bring the share value inline with the company's true worth.
---------END-------------
If they want to "bring the share value inline with the company's true worth" as soon as possible, they will be trying to support the price by always having a bid just under the current price. Giddy up Icans, we are going to high places.
Posted by blong on :
do you guys think it will go above the .0003 that it is at right now?
Posted by bond006 on :
you know it is very simple but maybe not as fast as we want it to be our value is going up and our share count is going down. it looks like the compass is starting to point north. i hope so glta
Posted by Leardron on :
quote:Originally posted by blong: do you guys think it will go above the .0003 that it is at right now?
In my opinion it depends on if he keeps the news coming. If this is it for the news for a while then it is going to sit here probably until we obtain the next sanibel restaurant.
Everyone has to remember that this thing was trading at No Bid and an ask of .0001 for a week or so. there are alot of shareholders that have bought in at those levels and are probably going to start taking their profits here. It is going to be tough to get out of this range. Like I said earlier, if we can get this beast above .0004, then it will fly.
Posted by NomarKash on :
quote:Originally posted by Leardron:
quote:Originally posted by blong: do you guys think it will go above the .0003 that it is at right now?
In my opinion it depends on if he keeps the news coming. If this is it for the news for a while then it is going to sit here probably until we obtain the next sanibel restaurant.
Everyone has to remember that this thing was trading at No Bid and an ask of .0001 for a week or so. there are alot of shareholders that have bought in at those levels and are probably going to start taking their profits here. It is going to be tough to get out of this range. Like I said earlier, if we can get this beast above .0004, then it will fly.
Or if Ed can confirm if the restricted shares are still restricted - the float will be around 3 Billion right? And then it will have to fly because it is vastly undervalued at .0003
Posted by Leardron on :
Yes, that's true too Nomar. I have a feeling though with the fact that Ed hasn't clarified what makes up the O/S and that the T/A is not allowed to give out that info, that the 10.7 Billion is the float. If I am wrong, I will be very pleasantly surprised.
Posted by NomarKash on :
IBAC Corporation Has Entered into Preliminary Discussions for Another Major Airport Hotel & Restaurant Property Friday July 15, 9:07 am ET
NEW YORK--(BUSINESS WIRE)--July 15, 2005--IBAC Corporation (ICAN:PK) today announced that it has entered into preliminary discussions for another Airport Hotel & Restaurant property located in a major metropolitan city. The company has determined that this potential acquisition (subject to all due diligence) would be a substantial addition to the company's portfolio/inventory of rooms. The property consists of 170 interior corridor rooms and a restaurant.
The company yesterday also received its site inspection (and surrounding areas) at their Memphis property from Denny's Restaurants regarding its pending application for a franchise at that location.
"We are extremely optimistic that we will be awarded a Denny's franchise and we will fast track all contractual requirements to open up shop," said Garry Becker President of all southern operations for IBAC Corporation.
"The company is intent on becoming a major hospitality company and will continue to implement its stated objectives and goals aggressively. We will continue to communicate all company events as they unfold as the company is on a fast tract to achieve its stated goals, this is a fledging company with momentum and the future is bright. We have built this company to where it is while enduring start up costs and rapid growth pains, in just nine short months the company has gone from a dormant non operating company to over 100 employees in three states, I have personally invested over 3.5M cash in this company and am the largest shareholder and I am committed to the company's success, as I have stated we will continue to grow our assets & revenues and achieve all of our stated goals aggressively," said Edward W. Hayter, President & CEO of IBAC Corporation.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants/lounge (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
-------------------------------------------------------------------------------- Source: IBAC Corporation
Posted by stickfigurefred on :
This could be good?
Posted by Leardron on :
I love how vague he is about the location but I can understand that. If he gave out the location, they would get bombarded by shareholder phone calls. All in all this is good news.
Posted by NomarKash on :
I would assume its down south again. I like that he keeps expanding. Keep it up Ed!
Posted by justplayin on :
quote:Originally posted by Leardron: I love how vague he is about the location but I can understand that. If he gave out the location, they would get bombarded by shareholder phone calls. All in all this is good news.
Learndon, I would think that the unannounced location is to also limit the amount of interest by other companies. Ed and team have done allthe work locating the property and the last thing Ed wants is a bidding war for properties.
Posted by explorer186 on :
NEWS:
IBAC Corporation Has Entered into Preliminary Discussions for Ano her Major Airport Hotel & Restaurant Property IBAC Corporation Has Entered into Preliminary Discussions for Another Major Airp rt Hotel & Restaurant Property
Business Editors
NEW YORK--(BUSINESS WIRE)--July 15, 2005-- IBAC Corporation (ICAN:PK) today announced that it has entered into preliminary discussions for another Airport Hotel & Restaurant property located in a major metropolitan city. The company has determined that this potential acquisition (subject to all due diligence) would be a substantial addition to the company's portfolio/inventory of rooms. The property consists of 170 interior corridor rooms and a restaurant. The company yesterday also received its site inspection (and surrounding areas) at their Memphis property from Denny's Restaurants regarding its pending application for a franchise at that location. "We are extremely optimistic that we will be awarded a Denny's franchise and we will fast track all contractual requirements to open up shop," said Garry Becker President of all southern operations for IBAC Corporation. "The company is intent on becoming a major hospitality company and will continue to implement its stated objectives and goals aggressively. We will continue to communicate all company events as they unfold as the company is on a fast tract to achieve its stated goals, this is a fledging company with momentum and the future is bright. We have built this company to where it is while enduring start up costs and rapid growth pains, in just nine short months the company has gone from a dormant non operating company to over 100 employees in three states, I have personally invested over 3.5M cash in this company and am the largest shareholder and I am committed to the company's success, as I have stated we will continue to grow our assets & revenues and achieve all of our stated goals aggressively," said Edward W. Hayter, President & CEO of IBAC Corporation.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants/lounge (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center. IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
KEYWORD: NORTH AMERICA NEW YORK UNITED STATES INDUSTRY KEYWORD: TRAVEL LODGING RETAIL FOOD/BEVERAGE RESTAURANT SOURCE: IBAC Corporation
CONTACT INFORMATION: IBAC Corporation Investor Relations, 718-891-8188 Fax: 775-320-5437 Investorrelations@ibaccorp.com www.ibaccorp.com Posted by NomarKash on :
Explorer, this was posted a few posts above yours.
Posted by Leardron on :
quote:Originally posted by justplayin:
quote:Originally posted by Leardron: I love how vague he is about the location but I can understand that. If he gave out the location, they would get bombarded by shareholder phone calls. All in all this is good news.
Learndon, I would think that the unannounced location is to also limit the amount of interest by other companies. Ed and team have done allthe work locating the property and the last thing Ed wants is a bidding war for properties.
That's true too. Didn't think of that. All though this might not be a bid situation. He might be just negotiating a deal with the owners but the same logic would apply.
Posted by NomarKash on :
This stock goes through such volume lulls. Hasn't moved in a while. Only 26MM shares.
Posted by explorer186 on :
I just want to repost one of this week's PR's for emphasis, because I think it shows the scope of this company very well:
IBAC Corporation Reports June Revenues
IBAC Corporation (ICAN.PK) today announced revenues for the month of June for The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites of $285,525.79 combined. These revenue figures are compiled from internal company accounting/bookkeeping and are subject to audit by the company's independent accountants/auditors.
For the month, The Sanibel Restaurant Group had slight decrease in sales over last month; the company attributes this to the seasonality of the location in Florida. The Royal Arkansas Hotel & Suites had a slight gain over last month.
The Royal Arkansas Hotels & Suites expect a significant increase in revenue for July as scheduled bookings & banquets are at a five year high for July. The company also expects additional increases in revenues from its Hotel operations in July from the newly acquired Memphis Airport Hotel.
The company expects (projects) July revenues from all operations to be from $450,000 to $500,000 for the month, a major increase over last month.
The company also expects a significant increase in revenues for the fourth quarter as it will be adding the next Sanibel location in August along with the recently acquired restaurant at the Memphis location and increased bookings at its Hotels.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants/lounge (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
All we need now is about 400 more shareholders who are willing to be patient with the company, and hold long-term. I estimate it will take 40 more days to get us moving past 0.0003. Oh well, it gives us more time to gather cheap shares.
Posted by stickfigurefred on :
And gather we shall my friend!
Posted by nyinvest on :
I had a dream about ICAN last night (does this mean I have too much invested?)
We got a R/S 1:1,000 and saw the price spike to $.30 and then slid all the way back to .0001 that same day. Everyone started screaming bloody murder and sold for whatever they could on the way down.
ICAN then applied it's $500,000 and bought most of the stock up because everyone bailed out. Because there weren't enough shares, the $500,000 didn't get spent but 1/2 the A/S were bought and retired. Since there was a lot of money left, the balance of the $500,000 was instead used as a dividend and every share got $0.02/share and then ICAN put out financials and moved exchanges. The shares spiked to $45.00 on the numbers. Everyone who sold and missed it sued ICAN and drove the price back down to .0001. ICAN sold all the assets off to another company and shareholders got $100/share. ICAN then lost the lawsuit and had nothing to pay anyone who sued them.
I'm still not sure if it was good or bad because I don't know when I got out.
Posted by bond006 on :
explorer how did you come up with 400 investores i have never sold one share of i can i now have 20million at an average of .0004 i would gladly be part of your 400 tell me why
Posted by going for gold on :
i 've still my 17m,it has been a while since i've posted something,but for me patience is the key here,my average is 0.00045
Posted by explorer186 on :
LOL how can you have dream about a stock
Posted by explorer186 on :
The float is estimated to be 5.7 billion. 800 long shareholders holding on average 7 mil shares will lock up all the float, thus causing us to move up. I think I read on RB the company has about 350 shareholders. Subtracting MM inventory will leave us with 400 more shareholders to go before the float becomes locked. I repeat we only have a 3.25 mil market cap for a company that will likely make 5-6 mil in revenue this year. The share price will move if we work together, and show other investors you can gain by holding this stock.
Posted by bond006 on :
explorer thank you makes sense we have some heavies here like ricpic with 94million as he has stated hes holding noah is iam maybe we can make it run
Posted by explorer186 on :
Those who get into this company now have little to worry about dilution because the OS is already 10.7 billion (est. 5.7 billion float,) and the AS is 12.2 billion, which will be decreased by a billion. By decreasing the AS, the company is sending the shareholders a message that we want to give you value. Thus, locking up the float might be very feasible. Get them while their cheap is my advice.
Posted by nyinvest on :
I'm holding till .001 and then selling only enough to get my cost back. That will leave me with 9 figures worth.
Just need to get there first.
Not sure what I will do from there. See if that happens first.
Posted by explorer186 on :
NEWS:
IBAC Corporation Has Entered into Preliminary Discussions for Another Major Airport Hotel & Restaurant Property
IBAC Corporation (ICAN:PK) today announced that it has entered into preliminary discussions for another Airport Hotel & Restaurant property located in a major metropolitan city.
The company has determined that this potential acquisition (subject to all due diligence) would be a substantial addition to the company's portfolio/inventory of rooms. The property consists of 170 interior corridor rooms and a restaurant.
The company yesterday also received its site inspection (and surrounding areas) at their Memphis property from Denny's Restaurants regarding its pending application for a franchise at that location.
"We are extremely optimistic that we will be awarded a Denny's franchise and we will fast track all contractual requirements to open up shop," said Garry Becker President of all southern operations for IBAC Corporation.
"The company is intent on becoming a major hospitality company and will continue to implement its stated objectives and goals aggressively. We will continue to communicate all company events as they unfold as the company is on a fast tract to achieve its stated goals, this is a fledging company with momentum and the future is bright. We have built this company to where it is while enduring start up costs and rapid growth pains, in just nine short months the company has gone from a dormant non operating company to over 100 employees in three states, I have personally invested over 3.5M cash in this company and am the largest shareholder and I am committed to the company's success, as I have stated we will continue to grow our assets & revenues and achieve all of our stated goals aggressively," said Edward W. Hayter, President & CEO of IBAC Corporation.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants/lounge (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
This PR was already posted Friday.
Posted by explorer186 on :
Oh shoot, somehow I thought this PR was released today
Posted by ACKCANE on :
right
Posted by noah129 on :
hey ya'll good luck im holding on strong thinking of maybe adding a few more shares just to further gamble on this lil company.
19 million that are not for sale.i guess that makes me one of the 400 shareholders.i dont know about that but im willing to hang on tight for quite a while if need be.im break even @ .00035 but im lookin for above a penny.hehehe i think ican i think i may be a dreamer.
Posted by explorer186 on :
Glad you're on board noah. This company is more real than not. It has tens of millions in assets and millions in revenue. The potential gains from this are great. The only negative of this company is that it's not reporting, which it definitely should be. Once it becomes reporting we will be able to see its financial condition, and investors who don't touch pinkies will be all over it. Right now we are in a cheap share period, so its best to get them while they last. Just remember the market cap is only 3.25 million.
Posted by nyinvest on :
quote:Originally posted by explorer186: ...this company is more real than not. It has tens of millions in assets and millions in revenue...
The asset value hasn't been disclosed. At this point, it's all guesstimation. Tens of millions doesn't sound right at this point.
The millions in revenue could be meaningless also. Profits are all that counts here. If they are spending more than they make, they won't last.
We, as investors, need more concrete information on this company. Everything looks good at face value but there isn't anything concrete to go by. It's a gamble in the dark at this point and the share price reflects the unknowns. Sometimes the best stories are nothing more than fairy tales.
Posted by explorer186 on :
FWIW I'm going to try to urge the company to start filing.
Posted by stickfigurefred on :
Please do, the more people we have riding them the better.
Posted by nyinvest on :
If this company is as it claims and files as such, everyone better but your seat and tray table in the upright position and fasten your seatbelt because we are ready for takeoff.
Otherwise, just put your head between your knees and... well...
Posted by justplayin on :
quote:Originally posted by nyinvest:
quote:Originally posted by explorer186: ...this company is more real than not. It has tens of millions in assets and millions in revenue...
The asset value hasn't been disclosed. At this point, it's all guesstimation. Tens of millions doesn't sound right at this point.
The millions in revenue could be meaningless also. Profits are all that counts here. If they are spending more than they make, they won't last.
We, as investors, need more concrete information on this company. Everything looks good at face value but there isn't anything concrete to go by. It's a gamble in the dark at this point and the share price reflects the unknowns. Sometimes the best stories are nothing more than fairy tales.
Welcome to pink sheet stocks. That is why they are pink, they don't report!
Posted by going for gold on :
i must say it's been quited here the last past days,same thing with the volume,i wonder if it is not are obligation to let other people know about ican.We all would benefit.
Posted by bond006 on :
hi happy investors hows our ican folk today cheer up we know where we are now and are moving forward lets get our spirt back
Posted by nyinvest on :
I'm afraid I'm getting sucked into the doom and gloom scenarios. Fighting off the temptation to sell. I think boredom is a contributing factor.
Posted by bond006 on :
yes i am tuned into that boredom factor that is one reason we play pennies is action
Posted by NomarKash on :
bored yes, but patient. ican will move, i have faith.
Posted by explorer186 on :
I don't pay attention to it because I have some others with action, and I hope you guys have too. Even if it dips to the bottommost don't worry, the shares are being bought back and it will head up in time. Expect these pullbacks, as some people will become impatient and sell at whatever price.
Posted by Leardron on :
the best thing to do with this one is ignore it. Move on and invest in some other plays in the meantime. As I said last week, this is going to be stuck in this range until one of 3 things happen. We get the next sanibel restaurant (which is suppose to be August or September), Ed files some financials, or he gets some other acquisition. My personal advice is if you have an average of .0002 or less and can get out without losing anything, sell now and buy back later. JMO.
Posted by nyinvest on :
quote:Originally posted by Leardron: ...if you have an average of .0002 or less and can get out without losing anything, sell now and buy back later...
Wish I could do that but we don't have the volume to support doing that.
I still think that there is something else going on here. This should have moved around more than it has with all the PRs. Not saying it should be higher, but at least should have seen a better volume spike.
Posted by Allen on :
Can anyone tell me why VYNC.PK is selling at $12.00 a share when it is supposed to be just a shell company and not doing anything? This company started at 1.50 a few months ago went to 3.00 and is not at 12....
Posted by KennyT on :
Hey Allen, I just went to their web site. It says a lot of nothing about what thy are doing. I see nothing and can find no news relating to this pps. It is very disturbing. Posted by nyinvest on :
Ignoratio Elenchi.
VYNC is a red herring.
Posted by noah129 on :
i think ican i think ican.
i have had an order for days now to buy at .0002 and no fill.still sitting on 19 million which are on lockdown until further notice.
Posted by rickpic on :
VYNC has an O/S of 250k is why it trades like it has been!
Posted by Allen on :
Thanks Rick so there is a reason. I see it has no volume but the price goes up and down all the time and I just didn't have any idea why.
Posted by tntrader on :
This thing is dead.
Posted by NomarKash on :
quote:Originally posted by tntrader: This thing is dead.
Nope, just in a rut.
Posted by noah129 on :
volume is way down but at the same time a good amount of the current volume is comingin at .0003 and i have had an order to buy for days at .0002 that wont fill.i am still sitting on 19 million that are not for sale.they may one day be at .0001 with no bid on them but i will be adding on that as well.best of luck to you.if you dont gamble how can you ever have a big win.build larger positions then you would like and sit tight just once.
Posted by bond006 on :
we are just in a rut now the best way to get out of one is a lot of good pr and i hope ed has some coming
Posted by nyinvest on :
There are some games being played too. The price goes to .0002 on a big trade and then back to .0003 on tiny trades (the last one was 18,770 shares or about $5.63)
I think some good concrete information will get this stock to move. Too many people playing too many games at the moment.
Posted by farmgirl on :
IBAC Corporation Forms Two Wholly Owned Subsidiaries Monday July 25, 9:35 am ET
NEW YORK--(BUSINESS WIRE)--July 25, 2005--IBAC Corporation (ICAN:PK) today announced that it has formed two new wholly owned Tennessee subsidiaries to be used for the recently acquired Memphis Airport Hotel & Restaurant property.
The company for certain business, tax and liability purposes has formed two new Tennessee corporations; the respective subsidiaries are Memphis Airport Restaurant Group, Inc. & Memphis International Airport Hotel, Inc. The company will transfer title for the Memphis hotel (parcel 1) and the restaurant (parcel 2) to the new Tennessee corporations respectively from its Royal Arkansas Hotel & Suites subsidiary.
This action is being taken in preparation/anticipation of being awarded a Denny's franchise and other certain operational/managerial considerations.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants/lounge (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com Posted by Leardron on :
Looks like Eddie boy is trying to cover his arse.
Posted by kptmoe on :
what do you mean by that leardon
Posted by TraderTom on :
I had a small sell order in at 0.0003 (1M shares) for nearly 2 weeks, just to test the water, and finally got a partial fill today (750K shares). Perhaps the the MMs are running out of shares or know a run is coming; otherwise they could just continue to buy at 0.0002 and sell at 0.0003 for an immediate 50% profit.
Did anybody else get a fill at the bid or ask?
Posted by stickfigurefred on :
Most interesting.
Posted by pensandoenti67 on :
nwpo !!!!!!!!!!!!!!!!!!!!!!!
Posted by NomarKash on :
Yawn.
Posted by blong on :
yeah i dont think this one is ever going to move?!?
Posted by mikensay on :
quote:Originally posted by blong: yeah i dont think this one is ever going to move?!?
It's going to be a while but when it does, you'll want to be on board. As soon as they start reporting and finish the buy back we'll have a better idea of what the share price should be. Go back and read several pages of posts. There's been a lot of speculation, but conservatively it could bump up to between .005 and .01 shortly after reporting.
Posted by Spritle on :
quote:Originally posted by TraderTom: I had a small sell order in at 0.0003 (1M shares) for nearly 2 weeks, just to test the water, and finally got a partial fill today (750K shares)
Has anyone else been able to sell @ .0003? Had an order in for about a week now and nothing yet.
Posted by bbygyrl123 on :
Havent been able to sell, but I noticed that it was featured on the Wall Street News alert hot stocks list... hmmm......
Posted by NomarKash on :
Do you have the article bbygyrl?
Posted by bbygyrl123 on :
Weston, FLA., Jul 29, 2005 (M2 PRESSWIRE via COMTEX) --
Wall Street News Alert's "stocks to watch" this morning are: Quality Restaurant Ventures (OTC: QRVI), Invicta Group Inc. (OTC: IVGA), UniverCell Holdings, Inc. (OTCBB: UVCL), IBAC Corporation (OTC: ICAN) and Hawk Protection Systems, Inc. (OTC: HWPR).
Quality Restaurant Ventures (OTC: QRVI) should be appearing on the radar screen of aggressive investors and day traders this morning! Yesterday after the stock markets closed, the company issued a press release announcing a significant system-wide sales increase for 2004!
News of the increased sales should be welcomed by investors, as the company attempts to move towards profitability! The financial review by the company shows that during 2004 QRVI had a 269%+ increase in system-wide sales compared to sales made in 2003. This report is the first announcement revealing the financial impact of investments QRVI made last year in two fast-growing regional fast-food chains, Westshore Pizza and Famous Uncle Al's Hot Dogs.
The report shows that in 2003 QRVI's system-wide sales were $4,677,502 compared with $12,599,913 for 2004. While the majority of the 2004 increase can be attributed to the company's new affiliations, Sobiks Sub Shops posted a sales increase of $207,803 which is 4%+ gain in system-wide sales for 2003.
Watch this company! According to the company's press release, significant increases in system-wide sales continue to enable QRVI to enhance its operational efficiency, and ultimately the company's profitability. QRVI now provides marketing, purchasing, real estate and infra-structure services for over 70 franchisee affiliates. Each QRVI restaurant concept also has a number of new franchises in construction or under contract.
Investors should continue to monitor the progress of Quality Restaurant Ventures for further developments! Late last week, the company announced that system-wide sales for the first quarter of 2005 have increased 22+% over the same period of 2004. If the trend is continued, QRVI's annualized system-wide sales should be on track to exceed $17 million.
In case you are not familiar with the company: Quality Restaurant Ventures Inc. identifies and prepares regional restaurant concepts with high growth potential for transition into franchise opportunities. QRVI recently announced that it had begun a broad-based investor relations program aimed at clarifying the company's true value to its stockholders and the financial marketplace. The company's primary website is www.qualityrestaurantventures.com.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Invicta Group Inc. (OTC: IVGA) up 106.2% on 15.6 million shares traded, UniverCell Holdings, Inc. (OTCBB: UVCL) up 10% on 19 million shares traded, IBAC Corporation (OTC: ICAN) even on 96.5 million shares traded and Hawk Protection Systems, Inc. (OTC: HWPR) up 84.2% on 4.3 million shares traded.
Commentary: "The U.S. House of Representatives pushed through an energy bill with tax-credits of $14.6 billion. Credits will be given to oil, gas, electricity and renewable energy companies. The Senate is voting on this bill on Friday. Consumers get a $2,000 tax credit if they purchased a hybrid car in 2005; since most are over-priced this may take some of the sting out of the sticker price," Stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.***********************. Posted by Clyde_Crashcup on :
Wall Street News Alert's are a paid subscription. Nothing to get excited about.
Posted by NomarKash on :
I know, I just wanted to see if they had a write-up on ICAN. Thanks for the post.
Posted by Clyde_Crashcup on :
quote:Originally posted by NomarKash: I know, I just wanted to see if they had a write-up on ICAN. Thanks for the post.
I would love to see a positive PR. Seems like it's been a long time.
Posted by bond006 on :
hi this board has got to pick up even if we just tell ican jokes on it this use to be a screamer of a post. news is coming i know we will have a revenue report and maybe some other stuff. and may even leardron will get interested again go ican go!!!!!!!!!!!!!!!!!!!!!!!!!!!
Posted by bbygyrl123 on :
Right you are bond! I'm in @ .0001 GO ICAN GO!!!!!
Posted by noah129 on :
howdy,
i think ican i think ican...........
this last pr about two new corporations kinda feels like im being worked.i put a lot of money into ican with all this talk about reporting , move to another higher exchange, big dividend for the faithful holders, (spinoff shares) so far all ive seen is the pps plummet and little to no news that is really exciting.will ican shareholders get shares in the new formed corporation. or will this new corporation be an outlet for more dilution.we shall see wont we? none of my shares are for sale i still beleive this stock can conservatively run to .001 some time on little news but then again eddy could be running this into the ground while he buys nice cars and golfs who really knows....
19 million on lockdown until further notice.
Posted by BchOus on :
Hope this current news on Denney's franchise is in a Denney's friendly city. The Denney's in Bradenton FL has just closed, it was in a good area but not attached to a motel or hotel, however, that may be the winning key for a Denney's restaurant. Still holding my shares for the big profits!
Posted by bond006 on :
noah i don't want to say anything yet on that one about ten different senario's are running thru my head and none of them seem to good for the share holder i will just hold my peace and see what happens
Posted by mikensay on :
quote:Originally posted by noah129: howdy,
i think ican i think ican...........
this last pr about two new corporations kinda feels like im being worked.i put a lot of money into ican with all this talk about reporting , move to another higher exchange, big dividend for the faithful holders, (spinoff shares) so far all ive seen is the pps plummet and little to no news that is really exciting.will ican shareholders get shares in the new formed corporation. or will this new corporation be an outlet for more dilution.we shall see wont we? none of my shares are for sale i still beleive this stock can conservatively run to .001 some time on little news but then again eddy could be running this into the ground while he buys nice cars and golfs who really knows....
19 million on lockdown until further notice.
From the PR I didn't get the impression that these divisions will be issuing shares but rather are being formed for protection purposes. Unless of course the protection is from the share holders. I think we'll be hanging around here until Ed gets his numbers and reporting in place.
Posted by WinsumLosesum on :
IBAC Corporation Reports July Revenues Business Wire - August 02, 2005 10:07
NEW YORK, Aug 02, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK) today announced revenues for the month of July for The Sanibel Restaurant Group, Memphis Ramada Hotel and The Royal Arkansas Hotel & Suites of $380,316.64 combined. These revenue figures are compiled from internal company accounting/bookkeeping and are subject to audit by the company's independent accountants/auditors.
For the month, The Sanibel Restaurant Group revenues were in line with the seasonal economy of Florida and were anticipated. The Royal Arkansas Hotel & Suites had a gain of 156% over the same period last year (the company did not own the property last year). The newly acquired Memphis Airport Ramada had an increase of 30% over the same period last year.
The company has completed half of its budgeted upgrades to the Royal Arkansas Hotel & Suites and has started its budgeted upgrades on its newly acquired Memphis Airport Ramada and expects all work on both properties to be completed as scheduled by September of this year. Upon completion of budgeted upgrades the company anticipates a significant increase in revenues for its hotel properties; this does not however include the company's pending application for a Denny's franchise at its Memphis property of which is a separate budget nor The Sanibel Restaurant Group.
The company continues to pursue mismanaged and undervalued properties within the hospitality industry and believes that this strategy will produce the desired results revenue wise and asset wise that the company expects.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants/lounge (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide/Memphis Airport Ramada; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com Posted by NomarKash on :
What are the profits Ed??????
Posted by Allen on :
Has anyone spoken to Ed recently? I noticed that in past months the Financials for the previous month took unitl about mid-month. This month they were on day 2. Maybe this means that everything is caught up and the audit is almost complete.
Posted by 1stfidelity on :
when audit is complete we should have nice run!
Posted by 1stfidelity on :
should help you understand company a little better!
Posted by ziggy on :
Anyone have any kind of idea when the audit will be done with? this stock needs to start moving again
Posted by 1stfidelity on :
i believe any day now....
Posted by 1stfidelity on :
hopefully today! Posted by NomarKash on :
quote:Originally posted by 1stfidelity: i believe any day now....
Is that statement based on "hope" or do you have some hard facts?
Posted by 1stfidelity on :
from what others tell me, nothing more..
Posted by NomarKash on :
quote:Originally posted by 1stfidelity: from what others tell me, nothing more..
gotcha
Posted by bond006 on :
is there anything exciting about this stock any more it use to be the talk of the town
Posted by TalonSin on :
quote:Originally posted by bond006: is there anything exciting about this stock any more it use to be the talk of the town
This one has been like watching paint dry lately
Posted by cagman23 on :
1st Fidelity....This stock is DOA unless Mr Hayter proves otherwise by filings and audits, which he does not want to do or is afraid to do!!
Maybe you can enlighten us on what you seem to know that will give us hope here .
Posted by mikensay on :
This thing just tapped .0001 and bounced back to .0003. Anyone have L2's on this?
Posted by Allen on :
Remember Viyon VYNC.PK? now the symbol has changed to FGFC.PK and First Guardian Financial. Has anyone heard why this change has taken place? There are no headlines or news???
Posted by unreal33 on :
How long do these audits take?
Posted by bond006 on :
this stock is something it just does not move and lots of the people left the board i guess they just threw there hands up and quit. and i have to say closing at .0001 like it did months a go is pretty dishearting glta
Posted by TraderTom on :
There was a single 0.0001 trade (3M shares) at 15:56, but I see a close of 0.0003.
Also the very last trade of the day was a "100" signal at 0.0003, which is supposed to mean "I need shares". Let's see if if means anything.
Posted by NomarKash on :
quote:Originally posted by bond006: this stock is something it just does not move and lots of the people left the board i guess they just threw there hands up and quit. and i have to say closing at .0001 like it did months a go is pretty dishearting glta
I think that people left the board because ICAN is boring. But I think most who left check in from time to time and are still holding. I am one of those...
Posted by ya ya on :
I am also holding - a bag holder
Posted by ziggy on :
anyone have the current lvl2's for for this one?
Posted by farmgirl on :
It is August could some of the regulars just be vacationing? I know I have been for the past two weeks.
Posted by Leardron on :
I'm still here and still holding but don't have anything to say because nothing is changing. Just hope that Ed is on track for the next Sanibel acquistion at the end of August.
Posted by unreal33 on :
Any ideas on how long an audit usually takes?
Posted by 1stfidelity on :
lets get rolling already, go ican!
Posted by bond006 on :
i wold love to get going come on ed tell us something seniable on schedual audit near done
Posted by Double Diamond on :
Ed, tell us you bought the float with the $500 000 !
Posted by going for gold on :
been a while away,nice volume today. still have my 17m.don't known if thats's bad or good
Posted by TalonSin on :
I have 5m collecting dust...
Posted by Mike White on :
Whats going on? Nice volume today... I am still holding on to 20M waiting for my dream of this stock to go to 1 cent... lol. Probably will never happen but when I look at the risk/reward the reward seems far greater.
Posted by Leardron on :
Maybe Ed is doing some buying today. Who knows.
Posted by bond006 on :
well somebodies doing some buying as an experiment i put 1million to sell at .0003 did not sell all morning just changed it to .0002 lasted about 1 minute
Posted by Mike White on :
Bond006, I think that is the first time in a long time I have seen anyone able to sell above .0001. This is good news
Posted by TraderTom on :
I just sold 2 million shares at 0.0003, but it took over 2 weeks to get a fill. Also, the bid is back at 0.0002, after being at 0.0001 for a few days.
Posted by rickpic on :
you all know there news coming at least by the end of the month here about the added Sanibel! Correct? Looks like someone or a group is gathering a bit ahead of the PR! Still holding 92m here! Not advicating a buy or sell. Just offering a bit of info, for those who may not know, or did not remember!
GLTA Rick
Posted by bmaxingout on :
Ed is a lieing theifing pos anyone who would invest one single penny into Eds scams must have rocks in their head.Like I do!Ed should be in prison for what he has done. Im still stuck holding the bag on this one. I have had a sell in for over one month for .0003 and have had no luck at all. Now these are jmho and i am very disapointed in how ed screwed all of us. imo ed is a fraud period. good luck to all of you
Posted by Clyde_Crashcup on :
Ed has not screwed anyone - you screwed yourself. You will never get rich in pennyland waiting for the big one. It's just a dream you paid money for.
Posted by Leardron on :
quote:Originally posted by Clyde_Crashcup: Ed has not screwed anyone - you screwed yourself. You will never get rich in pennyland waiting for the big one. It's just a dream you paid money for.
So basically you are saying we should blame the drug addicts and not the drug dealers?
Posted by noah129 on :
well im still holding my 19 mil shares i think that this stock could very well jump one day back to the .001 range or even higher.dreams can and do come true for those that have the capability to dream.
Posted by MsKay on :
Did anyone else see anything about a 15% stock dividend? I had ICAN set up in Yahoo portfolio to get news and when I logged on this morning, Yahoo told me that there was an alert that would give me a 15 more shares for ICAN and did I want Yahoo to automatically update my portfolio? When I said yes, it did actually add them. However, there are no additional shares with Etrade yet on my actual account and I can't find anything about it anywhere else. Does anyone know anything about this? Did I miss something?
Posted by Clyde_Crashcup on :
quote:Originally posted by Leardron:
quote:Originally posted by Clyde_Crashcup: Ed has not screwed anyone - you screwed yourself. You will never get rich in pennyland waiting for the big one. It's just a dream you paid money for.
So basically you are saying we should blame the drug addicts and not the drug dealers?
Right
Posted by bmaxingout on :
quote:Originally posted by Clyde_Crashcup: Ed has not screwed anyone - you screwed yourself. You will never get rich in pennyland waiting for the big one. It's just a dream you paid money for.
How can you say that ed didnt screw anyone when he puts out a pr saying that ican is being naked shorted, He asked all share holders to put their shares into certs knowing that if they did (and i did) he would be dumping billions of shares into the market.The share holders that put their shares into certs would have no way to get out before the market makers went to no bid.and now here we sit .0003 Edward Hayter willfully and knowing defrauded his (Loyal) shareholders
and you say the eddie boy did nothing wrong you my freind need a few classes in ethics
Bmax
Posted by ya ya on :
Nobody twists our arm to buy these stocks.We buy them knowing of the risk going in.It's a crap shoot people,we could be one PR from winning and one from losing.
Posted by subbywrx on :
Can't believe people are actually still holding out for this one.
get out now while you can, don't waste your money on this one.
Posted by rickpic on :
The closing date for the Sanibel Steakhouses in Bonita Springs was Aug 15th, so we may see a PR here this week. There are a few other pending acquisitions from past PR's also. Maybe I'm wrong, but I get the feeling that a string of positive happening for ICAN could be coming! No PR since 8/2/05 is the first thing that gives me that feeling. Maybe its just wishfull thinking, but I'll be watching as I am still holding 92m shares here!
This is not a suggestion to buy or sell this security! I hold this as a long position and I don't suggest holding long in any pink sheets stock!
GLTA Rick
Posted by entplaya on :
quote:Originally posted by bmaxingout:
quote:Originally posted by Clyde_Crashcup: Ed has not screwed anyone - you screwed yourself. You will never get rich in pennyland waiting for the big one. It's just a dream you paid money for.
How can you say that ed didnt screw anyone when he puts out a pr saying that ican is being naked shorted, He asked all share holders to put their shares into certs knowing that if they did (and i did) he would be dumping billions of shares into the market.The share holders that put their shares into certs would have no way to get out before the market makers went to no bid.and now here we sit .0003 Edward Hayter willfully and knowing defrauded his (Loyal) shareholders
and you say the eddie boy did nothing wrong you my freind need a few classes in ethics
Bmax
Ok, Pleas clarify your thought that ED dumped billions of shares into the market after he made the PR? He made a PR later that said he was buying back and reducing the public float? I'm not bright and very savvy with my stocks, but Ed as far as I'm concerned is keeping his word.
Posted by noah129 on :
we shall all see wont we if this stays at the current levels and never moves then yes ed is a liar if it one day moves with a little good news and we start to see .001 and higher then many of us will be really happy if we stocked up at .0002 and such......
my shares are certainly not for sale at these current levels.
19mm on lock down.
Posted by stockaholic on :
Well Noah, I got out a little while ago and very reluctantly took a $500 loss. Since then I've made it up 3 times. So, I don't care if anyone wants to hold but that is absolutely not for me anymore. It's inevitable it should move sometime but why have your money rotting away doing nothing for you for an indefinite amount of time? As for Ed being a liar, he said the float was around 1.5 bill, had the T/A purposely gagged, then we find out that it's about 8 times that. I don't know about you but that makes him a rather big liar in my book.
Posted by bmaxingout on :
quote:Originally posted by entplaya:
quote:Originally posted by bmaxingout:
quote:Originally posted by Clyde_Crashcup: Ed has not screwed anyone - you screwed yourself. You will never get rich in pennyland waiting for the big one. It's just a dream you paid money for.
How can you say that ed didnt screw anyone when he puts out a pr saying that ican is being naked shorted, He asked all share holders to put their shares into certs knowing that if they did (and i did) he would be dumping billions of shares into the market.The share holders that put their shares into certs would have no way to get out before the market makers went to no bid.and now here we sit .0003 Edward Hayter willfully and knowing defrauded his (Loyal) shareholders
and you say the eddie boy did nothing wrong you my freind need a few classes in ethics
Bmax
Ok, Pleas clarify your thought that ED dumped billions of shares into the market after he made the PR? He made a PR later that said he was buying back and reducing the public float? I'm not bright and very savvy with my stocks, but Ed as far as I'm concerned is keeping his word.
IBAC Corporation Addresses Possible Naked Short Selling in its Securities
NEW YORK, May 20, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:ICAN) today acknowledges its concerns regarding the possible naked short selling of its common stock and urges shareholders to request that their shares be delivered to them in certificate form from their broker/dealers in order to help stop this manipulative practice. IBAC Management will initiate a thorough investigation to determine if its stock is being naked shorted and applauds Pink Sheets, L.L.C. CEO R. Cromwell Coulson's petition to SEC Secretary Jonathan Katz to amend Rule 3360 to require short interest reporting for all OTC equity securities. "Manipulative naked short selling by broker-dealers operates as a fraud on the market causing investors to lose confidence in the fairness and legitimacy of OTC markets," Cromwell wrote in his petition.
"While short selling may be the industry's dirty little secret this company will not stand by and watch its hard work and earnest efforts to build a legitimate business get destroyed," said IBAC President Edward W. Hayter, "naked short selling undermines the market's ability to justly and accurately reflect the price of the companies securities, and directly affects the company and its shareholders and will not be tolerated."
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
KEYWORD: United States North America New York INDUSTRY KEYWORD: Professional Services Banking Finance Other Professional Services
during this he said or should i say swore that there were 1.3 billion outstanding shortly after guess what he comes out saying that the o/s is over 10,000,000,000 go back and read his pr and show me where he told the truth.ed is a pos theif sorry but it is what it is jmho good luck
Posted by bmaxingout on :
now if ed does do what he said he would, and retire/buy back 1 billion that still leaves over 9,000,000,000 in the float think about that for a little while do you understand how many shares have to be sold and then held for this stock to move past where it is right now.
good luck to all Bmax,
Posted by farmgirl on :
I am only holding 5 million right now and am playing the wait and see game. It will either move or not. I am in at .0002 so I will not loss much holding.
Posted by farmgirl on :
Average Volume (100 day) 185,250,323
Today is only 2,666,000
What is up?
Posted by unreal33 on :
Maybe it would be worth it to swing by and check them out?
IBAC Corporation 2167 E.21st Street PMB 103 Brooklyn, NY 11229
Who's from Brooklyn?? lol
Posted by unreal33 on :
quote:Originally posted by unreal33: Maybe it would be worth it to swing by and check them out?
IBAC Corporation 2167 E.21st Street PMB 103 Brooklyn, NY 11229
Who's from Brooklyn?? lol
- I just keep seeing the scene from Boiler Room where the main character stops by that "drug company" to find a boarded up office, lol
...At least their website is professional looking
still holding Posted by NomarKash on :
quote:Originally posted by unreal33:
quote:Originally posted by unreal33: Maybe it would be worth it to swing by and check them out?
IBAC Corporation 2167 E.21st Street PMB 103 Brooklyn, NY 11229
Who's from Brooklyn?? lol
- I just keep seeing the scene from Boiler Room where the main character stops by that "drug company" to find a boarded up office, lol
...At least their website is professional looking
still holding
Far from a Boiler Room unless the steak I was eating at Sanibal Steakhouse was fake and this is really the Matrix.
Posted by mikensay on :
I see no volume yet today....
Posted by farmgirl on :
I also see no volume today but did you notice only 7 transactions yesterday and 7 the day before?
Posted by mikensay on :
Yeah, it's getting a little too dead. I was hoping for some audit news by now...granted they are working on rolling in new deals but the way Ed was talking earlier in the year, it would be done by now....
Posted by farmgirl on :
I assumed the same. I am a holder. If nothing else hotel revenues always go up around the holidays.
Posted by mikensay on :
It's gotta get good soon. Well, I guess I don't get to retire just yet. I'm holding a fair position and if we can get to .03 I'm done with the job.
Posted by ya ya on :
get to .03 not in this lifetime.It will be lucky to get to .001 and that's pushing it.
Posted by farmgirl on :
There is nothing wrong with a dream (.03) but right now I just want to see upward movement.
Posted by justplayin on :
I would like to see any volume
Posted by NomarKash on :
it wont end the day with no volume.
Posted by farmgirl on :
Because this is an over the counter stock can they hold reporting volume?
Posted by ya ya on :
I am a dreamer also but when i wake up the first thing i do after the Dunkin Donuts coffee is check to see if any of my stocks did a suprise reverse split.
Posted by NomarKash on :
quote:Originally posted by ya ya: I am a dreamer also but when i wake up the first thing i do after the Dunkin Donuts coffee is check to see if any of my stocks did a suprise reverse split.
Isn't it more fun to dream of success than to dream of failure?
Posted by ya ya on :
AMEN
Posted by mikensay on :
quote:Originally posted by ya ya: get to .03 not in this lifetime.It will be lucky to get to .001 and that's pushing it.
It's been a while but I thought that Ed had mentioned in a PR that there was a 'secret' investor looking to buy the company at .01/share and he thought the price was too low. And this was before the last few company purchases. So why would it be so far off???
Posted by NomarKash on :
What does a 5,000 trade mean again? Only volume today thus far....
Posted by justplayin on :
mm's trying to jump start trading of this stagnant stock.
Posted by NomarKash on :
Well I for one am shocked with the volume. Or lack there of.
Posted by farmgirl on :
Maybe this is a good sign. Maybe there is something going on.
Posted by justplayin on :
Let's hope so. Usually it doesn't mean good things. Once interest is lost it takes ALOT to get it going again.
Posted by mikensay on :
In a couple of weeks we should see their monthly posting of revenues. We can't compare it to anything but they usually post their profit/loss dollars and percentages.
But it would be nice to see something in the way of becoming fully reporting.
Posted by NomarKash on :
I would like to hear about the closing of the next Sanibal Steakhouse that was supposed to happen in August.
Posted by farmgirl on :
I would like to see the audit complete. Were does Ed stand. In the black or the red
Posted by Double Diamond on :
today only 5K traded.
Posted by NomarKash on :
The day starts with a 10MM share sale...
Posted by NomarKash on :
Lots of huge sells coming in - whats up????
Posted by mikensay on :
I'm completely baffled by this stock. No recent news and low volume but bouncing between .0001 and .0003.
I'd love to see their play book.
Posted by farmgirl on :
I had a sell set for 1 million at .0003 and 30,000 sold. This sucks as it is less then 2.00 and it cost more for the transaction. I set all or none. I had forgotten before.
Posted by Double Diamond on :
somebody able to by at 0.0001 ?
Posted by noah129 on :
yeah u gotta be careful in putting in sales with no all or none.ive done that before i feel stupid when i sell 2 bucks worth of stock and it cost me 10 to sell hehehe.anyone heard any news from ed or anything im still sitting on a pretty large portion of this stock and wondering if ill ever be able to see it go green again.i think ill buy a bit today and see what happens.remember even though this has lost its interest the positives of this little pinky that we used to chant i think ican i think ican is that it has real assets and has a source of revenues and could one day be fully reporting.the best way to make big $$$ is to buy when its hated.i am not suggesting anyone follow my lead but i think i am going to start accumulating more at these levels if i can get filled at .0002.
19 million on lockdown.
Posted by noah129 on :
im putting in an order for .0002 2.5 million buy we shall see if it gets filled.
Posted by noah129 on :
wow filled almost instantly thats an intersting way to spend 500 this morning hehehe just to check out how hard it is to fill.my next test is to see if they will begin filling at .0001.
Posted by noah129 on :
im going for 3.5 million @ .0001. ill post if i get a fill.
21.5 million on lockdown and adding.i think ill go for 30 million hehehe.i am probably the dumbest bagholding qbidiot in the land hehehe.
best of luck to you all.
Posted by noah129 on :
hey theirs a little volume for us that are still in this .i think ican i think ican.anyone heard anything from our dearest ed who has done us so right with all these promises and grand ideas of .03 cents a share.
Posted by mikensay on :
It's been quiet however they are supposed to close Bonita springs by eom August. So I guess today is the day??? Hopefully they PR it.
Posted by farmgirl on :
The stock loan departments of 35 brokerage firms are now being issued subpoenas. The subpeonas were issued by the Department of Justice as well as the Securities and Exchange Commission. This is most definitely in connection with the ongoing practice of naked short selling. It is defined as selling short without borrowing the necessary securities to make a delivery, thus resulting in a failure to deliver the securities to the rightful owner. The main goal of naked short selling is to engage in harmfully affecting the price creating downward pressure on the security. Today, that pressure is being forced upon various brokerage firms that have failed to stop the practice, even with the installment of Regulation SHO, which was supposed to prevent naked short selling. More to come soon as the Fed is finally starting to crack down.
posted by Ant & Sons
We know people shorted the hell out of this stock. Do you think this will help us?
Posted by TalonSin on :
What do you guys and gals think the chance is we may see a R/S soon?
I'm in this for a few million shares and I have really been debating selling them off at .0003 and taking a small loss. When I place myself in the CEO's shoes and see I have 9 billion shares out there for .0003 to .0002 and I need to find a way to get this moving again the only way I see it happening is a R/S. (Sure there are other ways like moving to the OTCBB but I dont see that happening).
I dont mind holding this for 12 more months to make a profit but if it does a R/S it will be years before I ever make my money back.
What are your thoughts???
Posted by mikensay on :
quote:Originally posted by TalonSin: What do you guys and gals think the chance is we may see a R/S soon?
I'm in this for a few million shares and I have really been debating selling them off at .0003 and taking a small loss. When I place myself in the CEO's shoes and see I have 9 billion shares out there for .0003 to .0002 and I need to find a way to get this moving again the only way I see it happening is a R/S. (Sure there are other ways like moving to the OTCBB but I dont see that happening).
I dont mind holding this for 12 more months to make a profit but if it does a R/S it will be years before I ever make my money back.
What are your thoughts???
I don't think so, I've been reading back on the PR's trying to gleen a bit of information. Ed has stated he won't be doing a R/S. Hopefully, he's true to his word. Also, he stated in a few PR's that they will be doing buy back's on the open market over a 6 month period. Of course I've got nothing to back this but I wonder if that is a portion of what has been keeping the volume up over the past few weeks.
I look forward to the Bonita Springs PR and hope to hear something about the audit.
Posted by noah129 on :
well ed said no r/s but then again he said alot of things i continue to accumulate purely for the sake of gambling but i am very dissapointed in ed and the pps of this stock.i had high hopes for ibac corporation and i am patient but i feel ed has not been totally forthcoming with us in his actions.maybe he really is an honest guy and the market makers are responsible for this but my gut tells me he is paying himself well by selling shares to us hehehe.whatever happens we shall see in time.im certainly not selling now at these prices ill hold on forever if i have to .
21.5 million and counting.
Posted by noah129 on :
hey ric what do you think is going on with this i know your still in this arent you?
Posted by mikensay on :
I feel your pain, noah. I was hoping to see some movement already but I do think this company is a good model and will continue to purchase additional companies. I'm sure Ed is paying himself quite a bit. I only hope there's enough for the rest of us. Time will tell. I too am holding for the long term. I'd like to see this thing through to .05
Posted by noah129 on :
i would be stoked just to see anything above .0004. but i truly do beleive that if one has the patience this stock could actually jump one day and be heading towards a penny.i would suggest to all to do the opposite of anything i say though as lately i have had some really horrible picks and the picks i have followed from others havent been so hot either .so basically people just let me keep accumulating a stock that will most likely reverse split then change the ticker symbol and start to sell me more shares.oh poor baby i know its a sappy post but im a total gambler and have nobody to blame for this expect myself.the thing i always try to remind myself when i look at my positions and see giant red positions (down big on penny stock plays) is that it only takes one to gap up nicely or report some breakout news for it to cover all the red in my account. so basically i am a bagholder hehehehe
13 mil qbid 21.5 mil ican 8 mil prrm 1.8 mil gmci 130k twog
and many many others that are so embaressing to admit i bought that i wont even post them hehehehe . folks i think ive gotten delerious im going pink sheet bonkers. ttoooootoottoooo much red not enough patience hhhhheeeeeeeelllppppppppp!!!!!!
Posted by noah129 on :
is nobody interested in ibac corporation?
Posted by blong on :
dude u should get in hisc today at .088 that is a bargain! if i had more $ id jump in on it... ive been in since .04 , and more at .07 its the best pink around!
Posted by noah129 on :
hey blong i am already in hisc hehehe just another pink that im down on i am way too spread out.thanx for the tip though.
Posted by bond006 on :
i am here just waiting nothing else to do but hope we hear from ed
Posted by TalonSin on :
Any of you guys listen to pal talk? Was wondering if Ed ever stops by there anymore. I would like to ask him about the chance of a RS.
Posted by NomarKash on :
Noah did you get a fill at .0001?
Posted by mikensay on :
If anyone can get on to the Ibac website there is a message to the shareholders from ED. However, I've clicked on it and am unable to get anything. If you're able to open it please copy it to this board.
Posted by NomarKash on :
quote:Originally posted by mikensay: If anyone can get on to the Ibac website there is a message to the shareholders from ED. However, I've clicked on it and am unable to get anything. If you're able to open it please copy it to this board.
Good find mike - no luck getting the link to work though. Also looks like the whole site is down now.
Posted by scoopman on :
They must have updated it, here is what it says...not a whole lot but anyway:
To All Our Loyal Customers,Shareholders and Employees:
I will be providing periodic insight to the progress and status of the company beyond standard press releases via this forum, please check back regularly for my messages,please click on the links below.
Kindest Regards,
Edward W Hayter Chairman, President & CEO IBAC Corporation
August 31,2005 - Letter To The Shareholders From Edward W Hayter President Posted by NomarKash on :
quote:Originally posted by scoopman: They must have updated it, here is what it says...not a whole lot but anyway:
To All Our Loyal Customers,Shareholders and Employees:
I will be providing periodic insight to the progress and status of the company beyond standard press releases via this forum, please check back regularly for my messages,please click on the links below.
Kindest Regards,
Edward W Hayter Chairman, President & CEO IBAC Corporation
August 31,2005 - Letter To The Shareholders From Edward W Hayter President
Scoop-that has been up there for a while. Its the Aug. 31st link that we can't get to work. If you click on it it goes to a blank page (for me at least).
Posted by NomarKash on :
Anyone getting at fill at .0001?
Posted by Bigrod40 on :
Been trying for two weeks (2.5 million at .0001) nothing yet.
Posted by noah129 on :
no fills for me either lately.i was able to buy some a small amount a while back for .0001 but still have an open order for 2.5 mil at .0001 that doesnt seem to be filling.ill take this as a good sign but i am not happy with the lack of interest in this little promising pennystock with a great ticker symbol.im a beleiver in the power of a good ticker symbol.remember siri, or boom, or many others that were easy on the eys and easy to remember.just a thought.i think ican i think ican ICAN A STOCK THAT WONT GIVE UP.
HEHEHE OK NOW IM JUST BEING SILLY BECUASE IM A GIANT BAGHOLDER OF ICAN.
Posted by bmaxingout on :
well this week i sold and took quite a beating hope that you all do well but im going back into tnog looks like its ready for another big move and did not want to miss out again.was hoping that the pps would come up to atleast to .0004-.0005 but that doesnt seem likely. so hoping to make up some lost ground again good luck to all
Posted by NomarKash on :
quote:Originally posted by bmaxingout: well this week i sold and took quite a beating hope that you all do well but im going back into tnog looks like its ready for another big move and did not want to miss out again.was hoping that the pps would come up to atleast to .0004-.0005 but that doesnt seem likely. so hoping to make up some lost ground again good luck to all
Good luck. I'm sticking it out. I still believe in ICAN and Sanibel Steakhouse.
Posted by B on :
Here is the letter Ed wrote to shareholders on August 31.
PRESIDENTS LETTER TO SHAREHOLDERS & EMPLOYEES August 31. 2005
Dear Shareholders & Employees, I would like to start by thanking all of our employees at the southern hospitality division for all the hard work and long hours that they have been putting in during this time of disaster as both of the company’s hotels are booked to capacity in Memphis and especially Arkansas. As some may or may not be aware that the hotel in Pine Bluff is attached to the city’s convention center and the center has been opened as a disaster relief facility and is being staffed and operated by the American Red Cross. Our company is providing all the food & beverage service (three meals a day) for the Red Cross along with lodging for the Red Cross volunteers at a fair and equitable rate. I encourage anyone who would like to donate or volunteer to The American Red Cross you may do so at http://www.redcross.org. Our company will continue to assist in any manor necessary. Our prayers and wishes go out to all the victims and their families. My Deepest Prayers, Edward W Hayter President & CEO
Posted by noah129 on :
hey b ,
i see this as an honest attempt for ed to be decent and probably help out his own company.think about it they are supplying food and beverage to their max capacity for an indefinite amount of time.i used to work at a restuarant where they catered to fire men when the forest fires came in summer times out west.it added huge amounts of cashflow while at the same time giving honest people things they do need at a discounted price.anyways i wouldnt be surprised now to see this stock possibly catapult up to the .0004-.0005 range.im not pumping although i would love to see those ranges again. i just really think that if ed is not still diluting the u know what out of us we might be looking at some green soon.
anyways nobody should buy this stock if they are looking for excitement as it has been extremely boring to watch.also take everything i say with a grain of salt i am a monsta bagholda hehehe.
21,500,000 long .........what could it be worth 21 bucks? hehehehe.
Posted by bond006 on :
noah you are no more a bag holder than the rest of us that wanted the story to be true
Posted by NomarKash on :
Some of you may be bored with this stock. I still believe at some point it will have some good movement. If anything this is a great place to buy at .0002 and sell at .0003 although it could take a week or so to get back to .0003. All my opinion.
Posted by B on :
IMHO Ed needs to get off his ass and get the company fully reporting and off the pinks. Now is the perfect time, the hotels have guaranteed income also the food and beverage division. If he doesn't make any positive moves during this time im out.
---------------------- Boards don't hit back.......
Posted by bond006 on :
hi just wanted to let everybody know i am still here just i have nothing to say
Posted by mikensay on :
I can't decide on whether to buy more or just sit tight. I don't like that it has gotten too quite, minus Ed's memo on the website.
I expect we should see their standard monthly financial update within the next week. However, since they aren't fully reporting that does very little to boost the stock price---until we see the audited financials.
I also thought that we would have already seen something relating to the closure of their latest negotiations.
Just sittin here watchin the paint dry.
Posted by unreal33 on :
has anyone been following up with Ed's office? phone calls emails etc? I remember a few months ago there were a few people on this board who seemed to have lots of contact on a regular basis... no more??
Posted by NomarKash on :
I think it was mostly Leardon following things on PalTalk but he has lost interest in ICAN i think. Don't blame him - boring play!
Posted by stickfigurefred on :
NEW YORK, Sep 07, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK) today announced revenues for the month of August for The Sanibel Restaurant Group, Memphis Ramada Hotel and The Royal Arkansas Hotel & Suites of $373,548.59 combined. These revenue figures are compiled from internal company accounting/bookkeeping and are subject to audit by the company's independent accountants/auditors.
For the month, The Sanibel Restaurant Group revenues were above the seasonal average and were not anticipated. The Royal Arkansas Hotel & Suites had a significant gain of over the same period last year (the company did not own the property the same time last year). The newly acquired Memphis Airport Ramada had an increase over the same period last year.
The company has agreed verbally in principle to a merger with fully reporting Otcbb Company and is subject to full audits which are currently underway. As previously stated this has been the managements objective to become a fully reporting company and management feels this is the best course of action.
The company continues to pursue mismanaged and undervalued properties within the hospitality industry and believes that this strategy will produce the desired results revenue wise and asset wise that the company expects.
Posted by ya ya on :
so do you think this might go up just a little
Posted by stickfigurefred on :
Mergers scare me sometimes Posted by Doctoall on :
Any movement on this would be a great thing Posted by Leardron on :
I haven't posted anything on here for a long while mainly because there was nothing to post except the same old crap. Now we have some information that is interesting. Some of the guys on Pal Talk talked to Ed today and he said that the merger is going to happen very soon. He also said that it will not be a reverse merger. Both good news.
On another note he said that they are making alot of money right now in the Pine's Bluff convention center since it has been setup as a refugee site by the red cross. He said they are feeding about 5000 people a day down there and of course ICAN gets all the money off of the food and drink down there. He said they are making about $40 a day per head. Don't know if that is true but you do the math $200,000 per day. To verify some of it, here is an article we dug.
Good to see you back Leardron. It's too bad there hasn't been much to talk about over the past several weeks.
Good PR today, hopefully they'll be more on the way in a very short time.
Completed merger Share count reduction New acquisitions
Posted by Bigrod40 on :
Time for a numbers game!~!
$200,000 X 60 days (potentialy)= $12 Million Dollars.
Old Eddie could buy back one hell of alot of shares with that cash. Of course making us shareholders happy.
Posted by TraderTom on :
What the &*@# is going on -who's sitting on ask at 0.0002? Could anybody post L2, please.
Posted by Leardron on :
quote:Originally posted by TraderTom: What the &*@# is going on -who's sitting on ask at 0.0002? Could anybody post L2, please.
I am not sure but I think it is HDSN as usual.
Posted by NomarKash on :
It was good to see a PR today. However as usual its full of nothing. The revenues are nice to see however we never know how much is actual profit. "The newly acquired Memphis Airport Ramada had an increase over the same period last year." - That really tells us a lot. The merger news was vague and Ed throws in the part about becoming a reporting company probably only because thats what we want to hear.
If what Leardon is hearing from PalTalk is true and a non reverse merger is going to take place somewhat soon and that new company becomes fully reporting then Ed owns up to his claims.
I'm holding, bored and unconvinced with ICAN.
Posted by bond006 on :
nomarkash i will 2nd that
Posted by noah129 on :
i want to put my two cents in if nobody minds.
the fact that we are close to this disaster is sorta a good thing.the business's are gonna do great while we are also (ibac) able to help in a real way.the volume was higher than usual yesterday and i beleive that we may be getting ready to break out of this trade range.(.0001-.0003).let this stock fly we should be valued in my utmost humble opinion closer to .001 or higher.ibac corp is gonna be known in the future as the greatest steakhouses in the country .ok now im officially done with my pump and hoping for the dump part hehehe. this is all my silly opinion please dont buy or sell on this but do keep in mind the VOLUME.is it dilution? or is it accumulation before a run. its basically a coin flip.
Posted by NomarKash on :
If we got the bid to .0002 yesterday I would have hope that all the volume was more than dilution but the bid resting at .0001 doesn't give me much hope.
Posted by Leardron on :
Ed's going to have to put out alot more detailed information before this thing is going to go anywhere. Ed has a huge trust problem and no one is going to believe anything he says till he shows us. I do think that they are going to get alot of revenue this month off the Pine Bluff convention center because of the disaster. September's numbers should look good. Hopefully that is why he is probably going to go fully reporting. Do it right after he has a record month of revenue.
Posted by justplayin on :
This won't move until our shares are absorbed into the new OTCBB stock. I am sure that an agreement on the pps has already been completed.
To what value would it lend to let the pps rise until the conversion is complete?
Posted by noah129 on :
so what are u saying exactly ? that its better to stay at these prices until we move to another exchange? sorry for my lack of understanding of your comment.
Posted by duediligence1 on :
The board has cancelled the move into a new OTCBB. They already announced that. Thats over with. Thats part of Ed's trust problem alone with dilution when he claimed to be buying back shares.
Posted by justplayin on :
due, check out the latest pr. They have already agreed to merge with an already OTCBB company pending final audit approval. So, you are correct that ICAN will not appear on the OTCBB. But, ICAN shares will be cancelled and replaced with the "merged" company.
noah, yes, if a share transfer was agreed upon based upon a certain pps, then Ed would have no reason to try to elevate the current pps. His feelings have been stated that patience will be paid off.
Posted by Galaxy on :
ICAN share price can move if Ed reduce outstanding shares and reduce authrorized shares ( not just PR, no one gonna believe his PR anymore including me, real filing proof about reduce Authorized shares)
Then honest Explanation why he lied ( mid night issuing PR like bought 200M, MM is doing all thing like, though he did everything)
otherwise, ICAN share cant move above .0005. I am not yet selling, but i will once it reach 0.0005/ because the outstanding shares is more than 10B. Its not easy to move the share price.
Posted by mikensay on :
Ed did say in a PR a few weeks ago that he was dedicating $500,000 to share buy back. Given the share price of .0001 to .0003, he should be able or has been able (hopefully) to buy back anywhere between 1.6B and 5B shares. I'm hoping for the 5B number.
If he does this and successfully merges into the new ticker it may be possible to see .005.
As always, crossing my fingers.
Posted by TalonSin on :
quote:Originally posted by duediligence1: The board has cancelled the move into a new OTCBB. They already announced that. Thats over with. Thats part of Ed's trust problem alone with dilution when he claimed to be buying back shares.
The last PR said they were merging with another company (nothing definite). Are you saying that got shot down already?
Posted by rickpic on :
Looks to me like someone was buying 9m blocks at the ask and now the ask has moved back up to .0003 here. For those who are holding this it may be worth it to keep an eye on this activity today!
Rick
Posted by pensandoenti67 on :
Of topic
Man I bought HYRF at .17 sold at .38 ... Now at 1.05
EYII is working on the same contracts with HYRF, check the link between them, EYII chart looks primed and will run like HYRF I got me 25K shares.
Posted by rickpic on :
Somebody is buying up the ask here today! 98m all at the ask! I personaly hope we see a pre merge jump! Maybe I'm just dreaming though!
Posted by rickpic on :
138m here now all at the ask wow! Don't know whats up but I hope they keep buying it!
Posted by B on :
Any news on pal talk
Posted by noah129 on :
no news that i heard of yet .i hope we get something soon.im patient though.
20+ million on lockdown.
Posted by cagman23 on :
Come on Ed!! We need news!! News that will finally move this pps!!Tired of sitting at .0002.
OTCBB news, Filings news, acquisitions news,etc!!!
Posted by Bigrod40 on :
Dont hold your breath. If hes not buying back at this price, do you know what SCAM is??
Posted by mikensay on :
I must have too much time on my hands. I'm just baffled that we are hanging down here between .0001 and .0002. I know we need to become fully reporting and this has been PR'd that there is something, don't really have any details, but something in the works to get on another exchange.
However, I was looking at the two different websites IBAAC and Turner Hughes the other company ED runs. I don't get why Turner has an address listed and Ibaac has a Postal mail box. A little odd to me. It wouldn't be such a big deal if they were operating out of the same office and wanted two completely different addresses. But if that were the case, why would the PMB be 10 miles away?
Posted by B on :
How long does it take to complete an audit?
Posted by noah129 on :
wow the ican board lives on hehe.if its any consolation ive not been able to buy any shares for .0001 for over two weeks now so maybe just maybe one day we might head back up to the .0004 or higher mark.until then i hope ed is buying back shares like someone suggested cuz they are kinda dirt cheap right now in my mind.best of luck to you all that are still holding long on this one.
sincerely noah. 21.5 million long and strong. im a bagholder hurray.
Posted by MrsRuth on :
hahaha dont know if you can call it ican board LIVES lol but yesssss there is a few of us still holding on waiting, watching, waiting, and watching, down to .0001 up to .0003 down to .0003 feel like a change sit at .0002 for 2 hours. Kind of like watching the grass grow huh...
Good night everyone 9:30 starts new hope
Posted by noah129 on :
DEAR MRS RUTH,
i hope that you do acheive great amounts of wealth as it seems you have the other gift that life offers CHILDREN. my mother has six children and i would not trade any of them in for anything.growing up in a large family is priceless.all the bickering and fighting to use the bathroom or who ate the last of the cereal is really hilarious later in life.i hope that your children realize how lucky they are to be together in your family unit.best of luck to you in micropennyland sometimes patience pays and other times you just end up with alot of worthless paper.
Posted by MrsRuth on :
Thank you very much Noah, well its a house full of kids thats for sure at the max of my day I have 12 day care children ( plus my 5 ages, 19, 17, 10, 8, 3) you should see our dinner table. Loud noisey messy and I just love it. I was a USA Customs Broker for 7 years. Gave it all up to fill my house with children..... I rather deal with children arguing whinning all day then grown-ups. I dont think my children will realize the beauty of a large family until they have their own lol. I wished and prayed that doing child care out of my how would support us all, someone was listening cause its going on 3 years now... Now if they just listen to me about the stocks...... some day Sorry im long winded lol Guess I got excited someone actualy spoke to me on here lol Have a wonderful weekend
Posted by imakmony2005 on :
funner watching paint dry.
Posted by MrsRuth on :
Heheheh imakmony i gave you a few stars for that one lol Posted by B on :
Why isn't Ed buying back at these prices !!!!!
Posted by NomarKash on :
quote:Originally posted by B: Why isn't Ed buying back at these prices !!!!!
He'd be a fool not too. Unless he knows something we don't know!
Posted by mikensay on :
How do you know he's not buying back? I've gotta be hopefull that he is buying back and just not letting the PR out about it. Just like the PR about the latest acquisition...
Does anyone have any thoughts on when they will be fully reporting and into the new company? I've been unable to get any information back from the company (email or phone)
Posted by cagman23 on :
Same here mikensay...
I have sent a dozen emails and not one response. There was a poster on Raging Bull that said he knew of one or 2 sharholders who sold over 287,000,000 shares this past friday and it was not reflected on the volume.
I am not sure what all that means...but you can take it either way. If they are not showing sales, i guess it is possible that they will not show some buys either.
So I guess Ed could be buying back shares as people sell back their shares in disgust and we don't know it....jmho...fwiw
Posted by mikensay on :
That's odd.
It would be great to see them update their site with the correct OS if in fact they are buying back shares. I've noticed that they are slow to update and add the PR's. Which tells me they don't have their site as a main portal for anything. I think most companies that put out PR's have the PR linked to their site so as soon as it's posted it goes to their site.
If they are buying back (and retiring) shares then every share they buy should be good for the PPS when they in fact get around to becoming a fully reporting company and add new acquisitions.
I think before the latest buy back PR we were trading at .0003 and that was low. Cross your fingers.
Posted by B on :
Well to me it seems like this audit is taking forever. Ed should want to get this company fully reporting so he doesn't have to deal with the pink sheet crap. For someone who thinks the MM's have been naked shorting ICAN, he's taking his sweet time getting ICAN fully reporting.
I'm having a hard time trusting ED. If it was not for the assets and the company is generating revenues I would have dumped ICAN a long time ago.
Ed is working with so much, the company has great potential, yet he can do nothing with what he has to work with. There are companies on the pinks with no assets or revenues yet their pps moves?
ICAN imho is a good company with weak leadership!!!!
PLEASE prove me wrong Ed.
Posted by mikensay on :
The volume has just exploded in the last 5 minutes. 42M
Posted by mikensay on :
quote:Originally posted by B: Well to me it seems like this audit is taking forever. Ed should want to get this company fully reporting so he doesn't have to deal with the pink sheet crap. For someone who thinks the MM's have been naked shorting ICAN, he's taking his sweet time getting ICAN fully reporting.
I'm having a hard time trusting ED. If it was not for the assets and the company is generating revenues I would have dumped ICAN a long time ago.
Ed is working with so much, the company has great potential, yet he can do nothing with what he has to work with. There are companies on the pinks with no assets or revenues yet their pps moves?
ICAN imho is a good company with weak leadership!!!!
PLEASE prove me wrong Ed.
Look at Ed's Bio on the website. He deffinitely has the experience and the connections but I can't prove that he's a great leader.
Posted by Ric on :
quote:Originally posted by NomarKash:
quote:Originally posted by B: Why isn't Ed buying back at these prices !!!!!
He'd be a fool not too. Unless he knows something we don't know!
Why buyback shares when you can just sell more and more. Thats what he did during the last run while promising to buyback. Also who really believes they are working on doing audit. Classic pinksheet pumps. But then too he never said he was taking this off pink. They supposed to have moved assets to a otcbb then give divy's in that stock which they lied about.
Posted by mikensay on :
quote:Originally posted by Ric:
quote:Originally posted by NomarKash:
quote:Originally posted by B: Why isn't Ed buying back at these prices !!!!!
He'd be a fool not too. Unless he knows something we don't know!
Why buyback shares when you can just sell more and more. Thats what he did during the last run while promising to buyback. Also who really believes they are working on doing audit. Classic pinksheet pumps. But then too he never said he was taking this off pink. They supposed to have moved assets to a otcbb then give divy's in that stock which they lied about.
I completely forgot about the div plan for the spin off. I need to go back and reread the PR's but I thought shortly after that they PR'd that it was in the company's best interest to keep it as one company and try to become fully reporting and move to otcbb. But then again that was so long ago
Posted by ya ya on :
I think this stock is like beating a dead horse.
Posted by MrsRuth on :
Here we go a new week and noooo movement..... sigh
Posted by imakmony2005 on :
think this stock is like beating a dead horse YA YA YOUR RIGHT.
Posted by MrsRuth on :
Just imagining me siting next to a dead horse with pink slips of NNNC in my hand.... debating on which stinks more? lol If anyone takes offense, sorry..... Posted by MrsRuth on :
Hahah wrong thread but ok ICAN pink slips in my hand works too lol
Posted by atcspaul on :
yes but all the sales were at .0001 exept the last sale which was only a few thousand shares was for .0002. not sure what is going on
Posted by noah129 on :
well if it means anything i havent been able to get a fill at .0001 for weeks now .i once filled a couple mil at that price but it will no longer fill me at that price.
im in for the long haul on this too.lets hope ed does us right one day.
21.5 million long at least we cant go much lower hehehe.
Posted by atcspaul on :
to bad they were sales at .0001 exept one trade at .0002. last trade of day was only a couple thousand shares for .0002
Posted by cagman23 on :
According to a poster on RB, looks like something maybe happening here the first week of October...
sounds more like one persons opinion based on nothing else.
Posted by cagman23 on :
Nomar...
Probably right! I guess we'll wait and see as always!
cg
Posted by ya ya on :
More senseless pumping and dumping.The only news i see with this is a PR telling us A R/S is going to happen.
Posted by Doctoall on :
Smells and needs to be dumped, this guy Ed has had plenty of time to make this go, but no go and still another promise.
Posted by Double Diamond on :
What's going on. Not even 2 hours trading and we've got already +180 million shares traded (most at 0.0001). I smell something bad !
Posted by atcspaul on :
very disapointing to say the least
Posted by atcspaul on :
looks like some major dumping of shares at .0001 of 400 million so far
Posted by atcspaul on :
i need you all thoughts on this. i just called the to get the os. as you remember it was 11.4 billion. today almost a half billion shares dumped at .0001 matter infact L2 is now no bid and .0002 on the ask. here is the weird part at 240pm eastern time the os count is 10,793,385,517. which i just got from the issuing agent. almost a billion less. mm games or what is going on.
Posted by B on :
I just got off the air with stock talk live. Asked when they are going to have another interview with Ed. Told me that was a good question, they didn't know. Told me Ed was very difficult to get a hold of.
I asked was ICAN still a sponsor of IBC Radio Network(Stock talk live) told Ed let ICAN sponsorship expire.
quote:Originally posted by atcspaul: i need you all thoughts on this. i just called the to get the os. as you remember it was 11.4 billion. today almost a half billion shares dumped at .0001 matter infact L2 is now no bid and .0002 on the ask. here is the weird part at 240pm eastern time the os count is 10,793,385,517. which i just got from the issuing agent. almost a billion less. mm games or what is going on.
Posted by atcspaul on :
if and i mean i big if ed is really in the process of a merger it stands to reason he is hiding becuase till things are signed he cannot say a word about what is going on. this reduction of share count is not from ibac but the issuing agent that represents many company's and i don't believe they would risk thier reputation or buisness liening for ican. i have heard of mm's selling shares back and forth between each other in an attment to shake people out of their shares. well one thing is for sure something mighty fishy is going on. might loose our A$$ on this or something good is up
Posted by cagman23 on :
quote:Originally posted by atcspaul: i need you all thoughts on this. i just called the to get the os. as you remember it was 11.4 billion. today almost a half billion shares dumped at .0001 matter infact L2 is now no bid and .0002 on the ask. here is the weird part at 240pm eastern time the os count is 10,793,385,517. which i just got from the issuing agent. almost a billion less. mm games or what is going on.
If you check out the website, the O/S you mention is the same it has been since 7/14.
ok thanks i did not see that. when i called after it was ungagged i was told the os it was 11.4 billion
Posted by cagman23 on :
atcspaul...
I hope something is good is up as well...I think all of those that have been sitting in this for months deserve a nice return!!
Or maybe I just can't help being optimistic Posted by atcspaul on :
took some searching but the i hate to say i dont believe anything i read in these pr's and websights ref ican o/s. ed had a gag order on the os that did not end till aug 22nd this year and i called that day and that is when i was told 11.4 billion shares o/s. today the o/s is at aprox 10.8 billion. who knows. guess we will continue to watch the paint dry
Posted by ya ya on :
The only thing on this thread that i believe is when they tell me a R/S is on the way.
Posted by Double Diamond on :
So this guy stealth is claiming he has 2 billion shares lined up. I don't buy it. It's a good laugh though.
Posted by noah129 on :
hi folks the volume was sure wacky today i smell a pr coming soon.just my ignorant hopeful opinion though to be taken with a grain of salt.
21.5 million and counting hehehe.
Posted by atcspaul on :
was anyone able to get a fill at .0001?
Posted by B on :
The transfer agent is gagged !! Just got off the phone with them to get o/s, they told me the company request that the shareholders contact the company.
What's up with that? I'm calling right now.
Posted by B on :
Called, Ed is out til Tuesday can't get an answer til then.
Posted by NomarKash on :
quote:Originally posted by B: Called, Ed is out til Tuesday can't get an answer til then.
Convenient.
Posted by stockaholic on :
No way!! It's gagged again? And I was thinking of trying to get back in at .0001 just to see what would happen here in the near future. Good luck you guys. I am never touching this again.
Posted by mikensay on :
quote:Originally posted by B: The transfer agent is gagged !! Just got off the phone with them to get o/s, they told me the company request that the shareholders contact the company.
What's up with that? I'm calling right now.
That doesn't make sense. The o/s is listed on their website at 10.7B. Unless of course they've neglected to update the site. They're not very good about updating it.
You actually got through to talk to a live persion? That's a step in the right direction. Now all we need is some answers. I'll try again on Tuesday to get ahold of someone.
Posted by B on :
Here's the transfer agents number 801-266-7151
Posted by NomarKash on :
Who else thinks Ed won't be answering phones or taking calls when he gets back tomorrow?
Posted by cagman23 on :
I expect we won't hear anything from Ed or this company til next week being the first week of October.
Something has to give way...for better or worse and I think next week is the week for that to happen.
...jmho...fwiw
Posted by bmaxingout on :
quote:Originally posted by Double Diamond: So this guy stealth is claiming he has 2 billion shares lined up. I don't buy it. It's a good laugh though.
stealth is for real but he is now selling his shares as did i,ed is a theiving bag of crap that has lied to shareholders and is now hiding from them.his only out now is a r/s but good luck to all,
Posted by Doctoall on :
I am also out, just got tired of all the hype that Ed put out there and no pps upward movement.
Good luck to you all Posted by mikensay on :
Damn you guys. Who are you to try and make me see what's going on?
Don't know who stealth is but if he has a boat load of shares, I hope he keeps most of them.
I'm sitting on my shares a little while longer (end of Oct) to see what happens. It seems pointless to sell at these levels.
Posted by cagman23 on :
I agree mikensay...
I really don't have much into this, so I am just going to let it ride.
But as far as playing these pennies..I am thru...from the lying ceo's right down to pumpers on boards, it just makes the whole experience a crime!
Welcome to the internet...where nothing is what it seems!! Posted by mikensay on :
quote:Originally posted by cagman23: I agree mikensay...
I really don't have much into this, so I am just going to let it ride.
But as far as playing these pennies..I am thru...from the lying ceo's right down to pumpers on boards, it just makes the whole experience a crime!
Welcome to the internet...where nothing is what it seems!!
I'm just going to click my heels together 3 times so I can get back to la-la land.
Posted by atcspaul on :
i am not sure where this rumor started about their being a gag on the os but i called thursday and had no problem getting it and just called again monday the 26th at 1:50 pm est and got it no problem again. it is still at the 10 billion+ figure that is on the websight
Posted by cagman23 on :
Thanks atcspaul for the update....
This is why it is important for everyone to do their own DD...never believe what these posters say on any board...especially Raging Bull.
Alot of people have their own agendas to fullfil and create whatever news they want for their own purpose.
cg
Posted by B on :
quote:Originally posted by atcspaul: i am not sure where this rumor started about their being a gag on the os but i called thursday and had no problem getting it and just called again monday the 26th at 1:50 pm est and got it no problem again. it is still at the 10 billion+ figure that is on the websight
I called the T/A Friday and was told "the company request the shareholders to contact them". I called today and she gave me the O/S which is 10,793,385,517. Curious why they didn't give it to me Friday. Somethings going on.
GLTA
Posted by atcspaul on :
not sure b unless they were busy friday and didnt have time to get it for you. i know each time i have called them it took a few minutes not seconds for them to get the numbers for me. maybe it was friday and they wanted to go home lol. anyway another individual said they talked to ed on his cell phone friday and dan said he was on vacation till tuesday and everything was good and nothing to worry about and was really pissed about the transfer agent not giving out the numbers and would call them imidiatly. i personally did not talk to ed so i can not verify the conversation
Posted by B on :
Anyone talk to Ed. I can't get through.
Posted by mikensay on :
Ed who?
Posted by atcspaul on :
lol ed who. i hear ed was in florida last week checking on any damages and is on vacation this week to be back next tuesday. this is hearsay and i can not verify it
Posted by noah129 on :
i think ican i think ican.i dont mind being called a pumper i own alot of shares and would love to see this fella people refer to as ed follow through on a few of the pr's that were put out.pinksheets are scary frustrating and exciting.i hope to one day hit one good.havent had much luck yet but ive only been playing pinkies for one year.otcbb are much easier to make a few bucks on.but the ten and 100 fold returns are less common in my opinion.
Posted by MrsRuth on :
Awwhhh I won't call you a pumper Noah, just a wishful hoper... lol And I am sitting right next to ya.. Til then cheering... ICAN ICAN ICAN lol I refuse to be stiffed with this one... ( like I can do anything about it besides sell at a loss.....nahhhhh lol)
Posted by ya ya on :
I agree with you MrsRuth and Noah.I would like to see this go to atleat .0005 but i am not real confident.I think this Ed guy will have no choice but to do a reverse split or i think this company will just be gone.Sorry about being negative but Ed threw us all a curve with this company knowing that this won't be around much longer.
Posted by farmgirl on :
This may be a dumb question but if Ed reaaly bought thouse hotels this company can not just be gone can it. I would think at its worst it would be bankrupt. I hope not. I am not as invested as you guys but I do have 5 million shares.
Posted by ya ya on :
I think they won't be gone but be forced to do a reverse split to try to bring the number of O/S shares down
Posted by farmgirl on :
THANKS that makes more sense to me.
Posted by atcspaul on :
the os is not really all that high imo. look at qbid over 20 billion os
Posted by mv on :
How many shares does ED have?
Posted by cagman23 on :
No one knows!!
He hasn't filed yet...hopefully, next week, some of this stuff will come to light.
I have heard from several sources that have spoken to Ed that next week is when he is supposed to make things happen for this company...for better or worse. jmho...fwiw.
cg
Posted by mikensay on :
Cagman, is this in relation to the merger or is the rumor that he will be posting info prior to the merger?
Posted by shomethamoney on :
If you haven't heard tomorrow CWMF is having a forward split. For every 100 shares owned you will receive 50 shares!!! They do have a FEMA contract number and trying to bid for contracts in the relief effort as well.
Posted by cagman23 on :
I think both...The only thing I heard from another investor is that when he spoke to this person, he told them to sit tight til October, and then we will see what he is going to do.
As I said, this is hear-say...so take it for what it's worth.
I will believe it when I say my portfolio move into the green Posted by cagman23 on :
One more thing...
He told them this on Sept. 1 and said to wait 30 days til October...so I assume 1st week of October.
as always...we will see!!
Posted by mikensay on :
yeah, I haven't seen or heard anything, so I'll sit and watch the game. It would be nice to see both the merger and the financials in October. If that were to happen I think the share price should rise pretty high maybe into pennyland.
Posted by ya ya on :
showme - you are pumping CWMF on every thread.RELAX
Posted by mv on :
Is merger good or bad?If they convert our shares to those of the new company,Wouldn't it be just like a reversed split?
Posted by cagman23 on :
well..yeah...but, he could also buyback shares...retire those that he bought back and then merge.
We can speculate all day thru every scenario. We won't know anything til Ed gives us hard facts and pr's those facts that we can search own to be true..such as filings.
Til then, we are walking down a dark alley with no flashlight!!
Posted by atcspaul on :
if it is a forward merger it will be a real good thing. ed has said all along he will take care of his shareholders and if he is being honest i think we will be rewarded very nicely.
Posted by mv on :
I really don't like the stagnant shareprice.But it seems to me Ed has kept his word so far.By the way,what is a forward merger and why is it good for us?
Posted by cagman23 on :
Just had a thought....
I have heard several people on other boards say they have buy orders in but they are not getting filled. Could it be that they are not allowing new shares to be sold, but for existing shareholders to sell back their shares so Ed can slowly buyback enough shares to retire them off before they merge?? Any opnions on my line of thinking here??
It's just an optimistic thought..so take it for what it's worth Posted by atcspaul on :
it is when they buy or aquire another company. from what he said the other company is already a reporting company so move to the otcc would be a whole lot faster and less paper work. if the forward merger does happen shares from ican and the company they merger with would be cancled and we would be issued new shares under a diferent symbol. i have never seen share holders screwed by a forward merger. they ussually make out really well. example kmart buying out sears. kmart share holders made out unbelivable
Posted by Spritle on :
I just got filled.
1106250 * .0001
Posted by atcspaul on :
its a pink cagman and anything is possible. just look at this as a lotto ticket we may win and we may loose
Posted by bullish_pennystocks on :
status?
Posted by mv on :
Agree.It is a lotto ticket.However,it is unbelievable Ican,with around 8 hotels and restaurants generating a steady stream of income, is being valued at just one million dollars.What went wrong?Any idea?
Posted by atcspaul on :
i think when he diluted the shares back during the purchase of the airport hotel it destroyed investor confidence and is going to take some real doing to fix that
Posted by mv on :
At this price,he can easily use the earmarked $500000 to buy all the shares that float out there.We shouldn't worry about dilution because it doesn't make sense for him to sell the shares he owns at this price.If my reasoning is correct,there is only one way for our shares to go:up and up,unless this is a scam.I wish I could fly to their restaurants to see if the beef they serve is real.
Posted by TalonSin on :
quote:Originally posted by Spritle: I just got filled.
1106250 * .0001
How long was your order in before it got filled?
Posted by NomarKash on :
Bid is zero - awesome!
Posted by Spritle on :
quote:Originally posted by TalonSin:
quote:Originally posted by Spritle: I just got filled.
1106250 * .0001
How long was your order in before it got filled?
Exactly 1 Minute
Posted by noah129 on :
not for long i just put in a bid for .0001 3.5 million shares we will see if it fills.
Posted by HossTrader on :
Ok, Ameritrade shows this one at 0, yes ZERO right now
What the f does that mean?
Posted by NomarKash on :
quote:Originally posted by HossTrader: Ok, Ameritrade shows this one at 0, yes ZERO right now
What the f does that mean?
It means all your .0001 orders should fill. The stock is close to worthless. Not a good thing to see.
Posted by atcspaul on :
mm games the 0 was only for 44.200 shares. if you put a sale in at market while their is no bid you will only get between .00002 and .00005 for your shares and if that happens ameritrade show's it as a zero
Posted by NomarKash on :
I'm still seeing .0000 on scottrade - its been like that since I posted it 30 minutes ago.
Posted by lilpennypincher on :
I see no one on the bid L2
Posted by atcspaul on :
last trade was at 302 est and for 44.200 shares and that is the one that is shown at .00 just before that their was a couple trades for .0002 for 1 and 2 million shares.
Posted by mv on :
Something fishy is going on.They definitely know something we don't know.
Posted by Galaxy on :
That may not be true.I still have an unfilled buy order of a few millions shares.
Posted by Spritle on :
I bought today.
Posted by ya ya on :
Looks like a R/S could be on the way
Posted by farmgirl on :
My screen shows that ICAN ended the day at .0000. Is this right?
Posted by morehotair123 on :
sorry but that is correct ican now has no bid not quite sure what will happen next but this really does not look good
Posted by farmgirl on :
This SUCKS
Posted by morehotair123 on :
quote:Originally posted by mv: That may not be true.I still have an unfilled buy order of a few millions shares.
You can buy it but there is no one to sell it too I truly beleive that we are in the end of the game.I have had a sell for 10,000 shares at .0001 for two weeks now, just to see if it would go through but no go. Edward hayter has screwed us over big time.this POS Ceo deserves to be in prison he has lied,and stolen our money.
Posted by cyclekitty1 on :
Not so fast. Etrade still has my value at .0001. bought a couple mil shares at that price figuring what the heck. If it works cool if not it's only a couple hundred bucks. With all the early hype it was worth the shot and it is an enterprise with a steady revenue. Don't give up so fast.
Posted by Mo$artgurl on :
I have a couple hundred thousand in ICAN, and scottrade has it at zero but here is the kicker..they still have it valued at.0002 in the total money value of my stock assets, i.e its showing zero on the stock value but they still gave me credit in the cash value equal to .0002 per share. Also, went to businessweek.com and it has ICAN trading last at .004, with the exact amout of shares that traded today..could this be true?
Posted by Ric on :
Some brokers software round to .0001 even when its in the 5th decimal. It really isn't a no bid it is just a bid price in the 5th decimal and a lot of brokers and streaming programs do not go to the 5th decimal.
Posted by atcspaul on :
reason it says zero is the last trade of the day went thru at less then .0001 and it was only 47,000 shares. do the math it was the only trade at less then .0001 and it was just an mm game. i am not saying this is going da moon but it is not dead yet. prior to the zero trade their was a couple trades that went thru for .0002 1 and 2 million shares. so it is not over and the person that says they tried to sell at .0001 i am calling you on that one.2 weeks all i can say is you are full of $hit. in the last 2 weeks the bid has been at .0001 and your sale would have went right thru. don't waiste our time with your lies and bashing
Posted by atcspaul on :
second of all no one stole your money. if you invested it not knowing the risks expecially if you are playing a pink you deserve to loose your money
Posted by Clyde_Crashcup on :
quote:Originally posted by farmgirl: My screen shows that ICAN ended the day at .0000. Is this right?
I show .0002 on scottrade as the last trade of the day for yesterday.
Posted by mv on :
Let us wait and see.keep hope alive.
Posted by ya ya on :
I have lost hope.
Posted by NomarKash on :
quote:Originally posted by ya ya: I have lost hope.
Then stop posting in here.
Posted by mv on :
The stock can't go to zero unless the company goes bankrupt.As far as I know,Ican is doing business as usual.The low stockprice reflects low investors'confidence.When the company completes its audit and shows some profit,it will go right up again.Don't lose hope,friends.
Posted by ya ya on :
I have never seen a CEO so worried about the stock price of his company.What you find is that top officers of a company do not get involved in the stock price,heck they won't even talk about it.They get involved in the day to day operations of the company.Saying that i think we are getting scammed.
Posted by atcspaul on :
quote:Originally posted by Clyde_Crashcup:
quote:Originally posted by farmgirl: My screen shows that ICAN ended the day at .0000. Is this right?
I show .0002 on scottrade as the last trade of the day for yesterday.
that was after hours and on pinks the after hour trades are just mm cleaning up for the day. so far today the first trade for 2,197,800 was at .0002 and then 700,000 170,000 and 2,197,800 at .0001
Posted by atcspaul on :
quote:Originally posted by ya ya: I have never seen a CEO so worried about the stock price of his company.What you find is that top officers of a company do not get involved in the stock price,heck they won't even talk about it.They get involved in the day to day operations of the company.Saying that i think we are getting scammed.
i have been in buisnes for over 20 years and have never talked to a ceo that wasn't concerned about the stock price. it is a direct reflection of the company as far as selling the company getting financing and a number of things. so yes they worry about it and watch it closley unless a research company and they don't care untill research and development is done then bet your bottom doller they care
Posted by mv on :
It is a good sign Ed cares about the stockprice.He owns more than half the company.I don't believe he intentionally drive the stockprice down .He gains nothing in doing that.Part of the reason we invest in Ican is the fact that the ceo owns more than half the total shares,therefore he has a vested interest in making the company a success.Put yourselves in his shoe.You invested 3.5 mil in Ican.Now,your money shrank to $600000.I bet he is crying inside(we can afford to cry out loud because we are not ceo).Give the man some time.He want to be a billionair and in the process,he will make some of us millionairs
Posted by mv on :
Volume is low today.I can't buy at 0.0001.Maybe we are near the end of the tunnel.I hope there will be some good pr next week.
Posted by rickpic on :
Wow! They also added the following to their corp. info tab... Yeah. Auditors and SEC Counsel.... This makes me feel much better about moving forward. Hoping for a PR this next week.
AUDITORS Bagell, Josephs & Company, L.L.C. Gibbsboro , New Jersey
CORPORATE COUNSEL
For The Southern Division Mitchell Williams Selig Gates Woodyard P.L.L.C. Little Rock, Arkansas Harry Hamlin Esq.
For The Sanibel Restraunt Group Coleman & Coleman Ft Myers, Florida John Coleman Esq.
IBAC Corp General & SEC Counsel Legal & Compliance LLC West Palm Beach, Florida Laura Anthony Esq.
Posted by Bigrod40 on :
Well two things are going to happen on Monday! 1) Eddie plays us for suckers and major dilution starts and volume totals 400 million + and share price stays at .0002. 2) Have decent volume in the 100 million range and we see .0003 trades on excitement of website update.
Remember this comment from the company " The company has agreed verbally in principle to a merger with fully reporting Otcbb Company and is subject to full audits which are currently underway. As previously stated this has been the managements objective to become a fully reporting company and management feels this is the best course of action". September 7 PR.
Also they are buying back $500,000 dollars worth of shares on the open market and will reduce the A/S with this buyback. July 14 PR
500,000 X .0001 = 5 Billion DONT DROP THE BALL, EDDIE
Posted by Clyde_Crashcup on :
quote:Originally posted by Bigrod40: Well two things are going to happen on Monday! 1) Eddie plays us for suckers and major dilution starts and volume totals 400 million + and share price stays at .0002. 2) Have decent volume in the 100 million range and we see .0003 trades on excitement of website update.
Remember this comment from the company " The company has agreed verbally in principle to a merger with fully reporting Otcbb Company and is subject to full audits which are currently underway. As previously stated this has been the managements objective to become a fully reporting company and management feels this is the best course of action". September 7 PR.
Also they are buying back $500,000 dollars worth of shares on the open market and will reduce the A/S with this buyback. July 14 PR
500,000 X .0001 = 5 Billion DONT DROP THE BALL, EDDIE
Why Monday?
Posted by Bigrod40 on :
Penny-pinkie
Posted by iwearpro on :
I am just curious to how many shares you guys have in the company. I am pretty new to the boards and have been watching this company for a while. I have 3 million shares in the company that i just bought and was curious as to what each of you think is a good amount to have and to how hight you think you will let it go befor selling.
just curious
Posted by mv on :
Bigrod,there are only around 5 bil shares floating out there.If Ed use his $500000 to buy back shares ,there will only be one share holder in the company:Ed himself.I certainly don't want to see that happens.I want a share of the pie.
Posted by mikensay on :
quote:Originally posted by iwearpro: I am just curious to how many shares you guys have in the company. I am pretty new to the boards and have been watching this company for a while. I have 3 million shares in the company that i just bought and was curious as to what each of you think is a good amount to have and to how hight you think you will let it go befor selling.
just curious
I'm sittin with 11,325,000. How high it will go is a big mystery. From previous PR's and much speculation of the financails I think it should be trading around .03/share. But we're far from that.
It would be nice to see financials and I still believe they will come but just not sure when. Ed hasn't been totally forthcoming with his plan and if you read his PR's they can be pointed with one solid piece of info and sprinkled with a lot to keep you wondering.
All in all, this is a pink and pinks doesn't have a lot of reporting requirements.
Only play with as much as you can lose. Good luck.
Posted by noah129 on :
i got 21,500,000 an an order to buy more that doesnt seem to be filling.if we get the right looking volume and a real uptick with a bid of .0002 then i will continue to accumulate in hopes of one day reaching a realistic goal of .001-.01 cents.that would be fantastic in my mind. im totally baffled with my experience in ican .we have been promised so many things investors buying up stock , huge payout in a otccb stock merger or something like that.buybacks ect ect ect............... but being that they are a real company with real revenue generating assets i continue to hold long ive never sold one share and my avg is just over .0002 from many times of avg down.best of luck to you all.
remember the good ol days of positive ican . i think ican i think ican hehehe.
Posted by mv on :
I also believe the true value of is Ican is above 0.001.
Posted by Doctoall on :
October 03, 2005 05:58 AM US Pacific Timezone
IBAC Corporation Names Roy E. Adkins Jr. Comptroller of Its Southern Hospitality Division
PINE BLUFF, Ark.--(BUSINESS WIRE)--Oct. 3, 2005--Roy E. Adkins Jr. has been appointed Comptroller of IBAC Corporations Southern Hospitality Division, The Division consists of The Royal Arkansas Hotel & Suites, The Memphis Airport Hotel & Restaurant and National Hospitality Management Co. Mr. Adkins will be responsible for all financial management of the division.
"The appointment of Roy E. Adkins Jr. with his fiscal expertise and his understanding of the hospitality industry will be a tremendous asset to our team," commented Garry Becker President of The Southern Hospitality Division. "I look forward to his contributions as we plan and execute strategies for achieving The Company's ambitious growth plans."
Edward W Hayter, IBAC Corporations. President and Chief Executive Officer noted, "Roy E. Adkins Jr. will bring a unique perspective to the Southern Hospitality Division. His sharp business acumen will be of great value as the division aggressively pursues new and innovative projects & additional properties," his first order of business will be to solidify all procedures & finances for the division's upcoming audit with in the next 30 day's as to meet the company's time frame to have all operations audited by our Independent Auditors, for our anticipated merger with a fully reporting OTCBB company."
Adkins was graduated from Florida Metropolitan University with an MBA and a B.S in Business from West Virginia Institute of Technology. He has worked as Comptroller for Hilton, Boykin Management as Regional Comptroller, and Wintergreen Resort as Comptroller & Safety Harbor Resort & Spa.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant business and other industries. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 5 restaurants/lounge and 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide/Memphis Airport Ramada; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contacts
IBAC Corporation Investor Relations, 718-891-8188 Fax: 775-320-5437 Investorrelations*ibaccorp.com www.ibaccorp.com Posted by cagman23 on :
AM I missing something???
Why do I not see that pr on their website?? Last one I see is from September 28.
Posted by NomarKash on :
quote:Originally posted by cagman23: AM I missing something???
Why do I not see that pr on their website?? Last one I see is from September 28.
They are not very quick to update their website.
Posted by cagman23 on :
So where did Doctoall get his info from his last post above??
I checked Yahoo and I couldn't find it there either?
Posted by Doctoall on :
quote:Originally posted by cagman23: So where did Doctoall get his info from his last post above??
I checked Yahoo and I couldn't find it there either?
It's on Businesswire.com Posted by cagman23 on :
thanks !!
Posted by ya ya on :
I think with this a dead horse is being beaten.
Posted by Doctoall on :
quote:Originally posted by ya ya: I think with this a dead horse is being beaten.
So are you the one being beaten Posted by ya ya on :
I think we all are that are in this.
Posted by Doctoall on :
Businesswire posted the PR again for 725AM
They must have felt that it did not get out being posted prior to opening Posted by Doctoall on :
October 03, 2005 07:25 AM US Pacific Timezone
IBAC Corporation Names Roy E. Adkins Jr. Comptroller of Its Southern Hospitality Division
PINE BLUFF, Ark.--(BUSINESS WIRE)--Oct. 3, 2005--Roy E. Adkins Jr. has been appointed Comptroller of IBAC Corporations Southern Hospitality Division, The Division consists of The Royal Arkansas Hotel & Suites, The Memphis Airport Hotel & Restaurant and National Hospitality Management Co. Mr. Adkins will be responsible for all financial management of the division.
"The appointment of Roy E. Adkins Jr. with his fiscal expertise and his understanding of the hospitality industry will be a tremendous asset to our team," commented Garry Becker President of The Southern Hospitality Division. "I look forward to his contributions as we plan and execute strategies for achieving The Company's ambitious growth plans."
Edward W Hayter, IBAC Corporations. President and Chief Executive Officer noted, "Roy E. Adkins Jr. will bring a unique perspective to the Southern Hospitality Division. His sharp business acumen will be of great value as the division aggressively pursues new and innovative projects & additional properties," his first order of business will be to solidify all procedures & finances for the division's upcoming audit with in the next 30 day's as to meet the company's time frame to have all operations audited by our Independent Auditors, for our anticipated merger with a fully reporting OTCBB company."
Adkins was graduated from Florida Metropolitan University with an MBA and a B.S in Business from West Virginia Institute of Technology. He has worked as Comptroller for Hilton, Boykin Management as Regional Comptroller, and Wintergreen Resort as Comptroller & Safety Harbor Resort & Spa.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant business and other industries. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 5 restaurants/lounge and 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide/Memphis Airport Ramada; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contacts
IBAC Corporation Investor Relations, 718-891-8188 Fax: 775-320-5437 Investorrelations*ibaccorp.com www.ibaccorp.com Posted by ya ya on :
I think this will hang around the .0001 - .0002 area for a while longer and then realize that there are way too many shares outstanding and then throw us a reverse split.
Posted by ya ya on :
How many times are you going to post the same PR
Posted by cyclekitty1 on :
quote:Originally posted by ya ya: How many times are you going to post the same PR
And how many times are you going to keep thinking?
Posted by Doctoall on :
quote:Originally posted by ya ya: How many times are you going to post the same PR
As many times as I want Posted by ya ya on :
sounds like pumping to me.
Posted by Leardron on :
Actually to throw in one more monkey wrench. ICAN is now a year old and hasn't filed yet. As a pink he has to file a yearly report. Pretty soon the SEC is going to throw an E at the end of ICAN and say they are in none compliance. Just one thing to think about. He could just let the SEC take ICAN off the market by never filing.
Posted by noah129 on :
alrighty folks lets just be patient and hope for the best and expect the worst.we all know that their is three possible outcomes to this.we hang in this area for eternity, we go bankrupt and lose our money or we RALLY ONE DAY. it seems to me that it is possible that one day this stock awakens and hopefully in a big way.best of luck to you all.im not adding anymore at the current moment as i need to see a bit more volume and also good pr's.
Posted by atcspaul on :
lol lets act like adults.
Posted by Clyde_Crashcup on :
quote:Originally posted by ya ya: sounds like pumping to me.
Why don't you sell and move on?
Posted by mikensay on :
quote:Originally posted by Leardron: Actually to throw in one more monkey wrench. ICAN is now a year old and hasn't filed yet. As a pink he has to file a yearly report. Pretty soon the SEC is going to throw an E at the end of ICAN and say they are in none compliance. Just one thing to think about. He could just let the SEC take ICAN off the market by never filing.
Leardron, that's an ugly scenario. Possible I know but ugly.
Posted by mikensay on :
Ed just put out another letter to stockholders and employees on the website.
Posted by cagman23 on :
mikensay...
I just see one from Oct 3.
Do you mean there is a second from today??
Posted by ya ya on :
trading at .0001
Posted by mikensay on :
Yeah, go to the website and there is a section on the main page for a message from the president. It's a pdf and I haven't yet figured out how to get a copy of that on the board.
Posted by farmgirl on :
October 1, 2005 Re: Company Update Dear Shareholders & Employees: Just a little over a year ago management took over a company (IBAC) with no assets and no revenues and proceeded to add two hotels, a high end steakhouse and two management companies representing several million dollars in assets and revenues with over one hundred employees in three states, needless to say the mechanics of acquiring these assets and integrating new management with existing employees was daunting, we are now ready for the next level of growth and that is what I will discuss here today. The Sanibel Restaurant Group has undergone some changes in management and direction, the first change the group has experienced was the removal of Karl Wenzel as President, the group will operate temporarily with myself as President with an operating general manager of the Ft Myers Location, secondly the group had under contract two additional Sanibel Steakhouse locations in Bonita Springs & Naples Florida we have re evaluated those purchases and have concluded that resources would be better utilized for other acquisitions specifically hotel/restaurant properties with the company owning the real estate. The Royal Arkansas Hotel & Suites continues to make great strides in the areas of event catering and banquets while increasing average daily occupancy and is exceeding all projections at this time, the minimal cosmetic upgrades and renovations are on schedule and within budget. The recently acquired Memphis Airport Hotel & Restaurant is exceeding expectations and is operating quite efficiently under our management, we are currently awaiting a determination from Denny™s for a franchise license this will enhance revenues at that property, if we are not awarded a franchise we have other backup options and will have a functioning family restaurant at that property by years end. We are also in the process of changing the flag (franchise) at that location that will enhance the reservations and revenues. National Hospitality Management continues to hold an exclusive five year contract with four five year renewable options with The Pine Bluff Convention Center for all food, beverage and concessions at the facility. The parent company, IBAC Corporation of all these subsidiaries continues to integrate management, financial controls and other standard business practices to maximize efficiency and profitability. IBAC will continue to pursue additional acquisitions to increase revenues and assets.
Posted by farmgirl on :
Was that the letter you were triing to post?
Posted by NomarKash on :
Whoa - they are not aquiring the last two Sanibel Steakhouses? They fired Karl Wenzel? This is big news. Why do they post it as a letter instead of a PR?
Posted by NomarKash on :
and why does it still say "The Web site for the Royal Arkansas will be up soon! Please Check Back" on the Royal Arkansas website? That aquisition was almost six months ago - does it really take that long to update a website?
Posted by ya ya on :
The more i read this post the more skeptical everyone sounds.Does this sound like we got scammed.
Posted by cyclekitty1 on :
Only you ya ya, only you
Posted by ya ya on :
If we come out way ahead i will be the first to say i was wrong but,I think this will be at .0001 - .0002 for many days ahead until they will through us a R/S
Posted by mikensay on :
quote:Originally posted by farmgirl: Was that the letter you were triing to post?
Yes, thanks Farmgirl. So, how did you get it to the site?
Posted by NomarKash on :
Mike it depends on what version of adobe pdf you have. I have the version with pdf writer and I can then cut and paste text. That way its easy to post it to this site. Farmgirl may have something similar.
Posted by mikensay on :
Never thought I'd be so excited to see .0002, but here I am.
Posted by farmgirl on :
select all then copy then paste
Posted by mv on :
It is pretty quite this morning.Where is everybody?Say something,please.
Posted by mv on :
Oops.I mean quiet.
Posted by farmgirl on :
I am not sure what to say. I am tired of .0002 I am hoping for a better month next month.
Posted by MrsRuth on :
Me neither, but I am here.......
Posted by NomarKash on :
just very bored mv.
Posted by iwearpro on :
Does anyone know any news about this as of yet?i see that the volume more than 7 times in the last two hours or so?.?.?
Posted by atcspaul on :
mostly sells
Posted by morehotair123 on :
this thing is a dead horse im done beating it time to jump ship dennyc,
Posted by morehotair123 on :
all BEWARE THERE ARE PEOPLE THAT PUMP THIS CRAP.i will expose all of them and they know who i am i lost alot of money through their group plays push it up and drop it like a rock
Posted by atcspaul on :
do you really think that a stock with almost 11 billion shares outstanding could be pump and dumped? would take an awful big group with a lot of money to do something like that. they ussaully concentrate on stocks with a small o/s they can manipulate easy. i am down big time also and i blame it on ed loosing investor confidence and letting the o/s get so high. but them are chances we take playing the market
Posted by Clyde_Crashcup on :
quote:Originally posted by morehotair123: all BEWARE THERE ARE PEOPLE THAT PUMP THIS CRAP.i will expose all of them and they know who i am i lost alot of money through their group plays push it up and drop it like a rock
The only thing that you've exposed is the fact that you're full of crap.
Posted by noah129 on :
come on eddy give us a little news something to bring back a little confidance in this stock.
i think ican i think ican.........
Posted by mikensay on :
I imagie we should see the monthly numbers sometime this week. But yet again we need to see them become fully reporting before the numbers really mean anything.
Funny though I had a dream last night that we watched this thing climb all the way to $0.22/share.
Posted by cagman23 on :
mikensay.... If your dream is right and we hit .22/share...dinner at Sanibel is on me!!!
cg
Posted by mv on :
It shows the 1 year high is 0.07 on the chart.Was this company once valued at 700 mil?Hard to understand.
Posted by mv on :
Cagman,it'll be on me.Let me have that honor.
Posted by MrsRuth on :
I just want to know if I can bring all my kids to the dinner....? LOL
Posted by Clyde_Crashcup on :
quote:Originally posted by MrsRuth: I just want to know if I can bring all my kids to the dinner....? LOL
I think Ed should pick up the tab for the shareholders. Posted by mikensay on :
quote:Originally posted by MrsRuth: I just want to know if I can bring all my kids to the dinner....? LOL
Is that the 5 or 32? Guess it won't matter if we were to really see .22 One can only dream.
Posted by atcspaul on :
shoot if it goes up that much lets all meet in hawaii lol heck with florida
Posted by farmgirl on :
I will be there.
Posted by cyclekitty1 on :
quote:Originally posted by atcspaul: shoot if it goes up that much lets all meet in hawaii lol heck with florida
I'll charter the plane!
Posted by mv on :
There is not much buying and selling today.Farmgirl,do you mind checking the pulse of our horse to see if it is dead?
Posted by mikensay on :
quote:Originally posted by mv: There is not much buying and selling today.Farmgirl,do you mind checking the pulse of our horse to see if it is dead?
Dinner is served
Posted by NomarKash on :
quote:Originally posted by mv: There is not much buying and selling today.Farmgirl,do you mind checking the pulse of our horse to see if it is dead?
Are you trying to say one trade for $200 is not a lot of trading?
Posted by mv on :
Yeah!That's a lot of trading,all right.That is 20000 cents we are talking about.hahaha.
Posted by atcspaul on :
lololol
Posted by farmgirl on :
Maybe this is a sign. I doubt the horse is dead just dazed. Until we have pr or info of some sort.
Posted by MrsRuth on :
quote:Originally posted by mikensay:
quote:Originally posted by MrsRuth: I just want to know if I can bring all my kids to the dinner....? LOL
Is that the 5 or 32? Guess it won't matter if we were to really see .22 One can only dream.
If we hit .22 dinner will be served to alll 37 of them. And boyyy I feel sorry for who ever has to clean up after them lol. It will give the clean up crew nightmares lol
Posted by mv on :
Fellow dreamers! keep dreaming.It's not dawn yet.
Posted by imakmony2005 on :
MOVE MOVE MOVE MAN THAT NEVER WORKS.
Posted by HossTrader on :
This looks my lotto ticket for the month LOL Kind of all or nothing at this point.
Posted by rickpic on :
IBAC Corporation Reports September Revenues 10/10/2005 8:59:01 AM NEW YORK, Oct 10, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK) today announced revenues for the month of September for The Sanibel Restaurant Group, Memphis Ramada Hotel and The Royal Arkansas Hotel & Suites of $640,737.89 combined. These revenue figures are compiled from internal company accounting/bookkeeping and are subject to audit by the company's independent accountants/auditors.
For the month, The Sanibel Restaurant Group revenues were in line with the seasonal economy of Florida and were anticipated. The Royal Arkansas Hotel & Suites had a significant gain on increased banquet sales and room sales. The newly acquired Memphis Airport Ramada had an increase of 77% increase in revenues over the same period last year (The Company did not own the property last year).
The company continues to pursue mismanaged and undervalued properties within the hospitality industry and believes that this strategy will produce the desired results revenue wise and asset wise that the company expects.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants/lounge (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide/Memphis Airport Ramada; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: IBAC Corporation
IBAC Corporation Investor Relations, 718-891-8188 Fax: 775-320-5437 Investorrelations*ibaccorp.com www.ibaccorp.com Posted by NomarKash on :
quote:Originally posted by rickpic: IBAC Corporation Reports September Revenues 10/10/2005 8:59:01 AM NEW YORK, Oct 10, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK) today announced revenues for the month of September for The Sanibel Restaurant Group, Memphis Ramada Hotel and The Royal Arkansas Hotel & Suites of $640,737.89 combined. These revenue figures are compiled from internal company accounting/bookkeeping and are subject to audit by the company's independent accountants/auditors.
For the month, The Sanibel Restaurant Group revenues were in line with the seasonal economy of Florida and were anticipated. The Royal Arkansas Hotel & Suites had a significant gain on increased banquet sales and room sales. The newly acquired Memphis Airport Ramada had an increase of 77% increase in revenues over the same period last year (The Company did not own the property last year).
The company continues to pursue mismanaged and undervalued properties within the hospitality industry and believes that this strategy will produce the desired results revenue wise and asset wise that the company expects.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants/lounge (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide/Memphis Airport Ramada; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Waste of a PR - that told us nothing of value.
Posted by rickpic on :
revenues jump from $380,316.64 to $640,737.89 month over month!
Posted by NomarKash on :
Yeah but how much were expenses? If they are expanding the businesses they bought I'm sure they are spending more.
Posted by rickpic on :
not going to debate with you Nomar. I only posted a comment because I recognized a significant difference in month over month revs!
Posted by NomarKash on :
Of course its positive news rick and they keep going in the right direction. I just wish they would post profits and expenses along with the revenue figures.
Posted by Allen on :
I have a question for someone to answer who has been dealing with this stock for a while. I have been learning about A/S vs O/S and from what I understand the A/S is decided when the company is created and can only be increased or lowered after a vote from the shareholders. Months ago before the recent A/S and O/S were released didn't it say on the website that the A/S was a little over 6,000,000,000. If I remember correctly then that is the case. How then in July did the A/S increase to about 12,000,000,000 and the O/S to 10.7 billion?
The questions that I have are: Can the A/S be changed without consent of the shareholders?
Is there a way to see the initial document from the SEC showing the number of Authorized shares at the start of the company?
At the current stock price the Market Cap is about 2.4 Million. Market Cap is figured by Current stock price X A/S (I think). When I look on my broker's site it shows the market cap as 3480?
Posted by BuyTex on :
States' regs vary re: revision of A/S; check the Sec of State's Web site for the company's filings...
Posted by mikensay on :
I'm happy to see this trend of PR's. The monthly revenue numbers seems to be the one constant. But like a broken record, it doesn't mean much without proft/loss numbers. However, nice to see the revenues trending up instead of flat or down.
The only odd thing to this PR is that there is nothing tied to it. In the last few monthly revenue pr's the company has added some sort of comentary or tid bit of information regarding potentials or direction of the company. This time nothing but the numbers.
Maybe another PR coming out soon?
Posted by noah129 on :
ed has got to do something for the shareholders i am not pleased with his behaviour at all.i have been long for about a year now and been strung along for this crazy little ride.i have been promised lots of things and the only thing that came true was a lousy 15% divy which at the current price doesnt add up to much.i want to see a move towards becoming fully reporting and maybe a real buyback instead of just talking about one.lets buy back a few billion shares edddy.i know your not as stupid as you appear to be.or maybe im the stupid one for beleiving in this scam that your propigating.you have real rev's real assets and apparently cash to buy distressed properties.so what is the problem? take care of your shareholders we are the ones paying the price for your adventures and paychecks.i hope you dont drive a nice car as you hardly deserve one.and oh yeah im wondering if that private group of investors is still buying shares up to a penny a share? sorry folks im a bit p.o'd about this whole company right now just needed to vent a bit about my own stupidity for putting so much into ican.
i think ican i think ican hahaha.i dont want to sound like a pumper or basher or whatever im just another bagholder who is upset about this stocks performance i have nobody to blame but myself but it sure feels good to be upset at a ceo that i really know nothing about hahaha. best of luck to you all.
Posted by amanick on :
Is it time to picket the hotels and restaraunts yet?
Posted by atcspaul on :
LOL
Posted by amanick on :
not funny someone needs to light a fire under ed's butt
Posted by noah129 on :
i have always thought of if someone who owns a restaurant ever really hurt me in some way that i would round up a bunch of homeless folks give them all a few bucks and take them out to eat with me.now we would be paying customers and we can tend to be a bit messy at times.hahaha. imagine that 30 of us making a mess day in day out that isnt a pretty picture is it and yet its totally legal to eat out and accidently spill your coffee and eat like a piggy hehehe.ok lets just hope ed does something to get this thing moving again as i dont like to take the route of negativity but this guy seems to ask for it with his always shady behavior never telling us the truth and always giving us the glass half full story.give us a real pr ed i know you have an interest in this thing moving up as well.
Posted by johnny14511 on :
hey you think its still good to get in this ???????
what do you think?
Posted by noah129 on :
well its good if you want to take a gamble im still holding on until we get back to .0005 which could be tommorrow or never.so i dont know i think its a safe bet to throw maybe a few hundred bucks at it i wouldnt put too much though as it seems to be quite dead lately.
Posted by johnny14511 on :
what about if i get in at .0001
..........................NEW YORK--(BUSINESS WIRE)--Oct. 10, 2005--IBAC Corporation (ICAN.PK) today announced revenues for the month of September for The Sanibel Restaurant Group, Memphis Ramada Hotel and The Royal Arkansas Hotel & Suites of $640,737.89 combined. These revenue figures are compiled from internal company accounting/bookkeeping and are subject to audit by the company's independent accountants/auditors..............................
theese news that came out did the stock go up a bit?
whats the 52wk low on this
Posted by mikensay on :
Johnny
We're sitting at the 52 week low. If you look at the last several monthly revenue PR's they look good, however, we don't know what the profit is and that's a big problem. They could be burning more money month over month.
Should/When Ed complete the audit and roll into the reporting company, we could see a big pop. But we're all still waiting. Good luck
Posted by johnny14511 on :
how come the 52wk low says .00
did it ever go lower than .0001
Posted by Ric on :
quote:Originally posted by rickpic: revenues jump from $380,316.64 to $640,737.89 month over month!
It really doesn't mean much without knowing the area which these places are located and what may or may not be going on.
My hotel makes 1/4 of its yearly revenues in August because of the Night Nascar race, Harley drags, Truck race, and Super Ford Weekend at Bristol Motor speedway. Three weekends in August that are great revenue generators. Especially Nascar. So without knowing all the facts this may be something normal for the areas these hotels and restaurants are located.
Posted by TraderTom on :
The jump in revenues may in part be due to the people who found shelter from Katrina in the Pinebluff convention center. It was posted on the website that ICAN's restaurant was feeding them. Could that add up to $260K in one month?
Posted by Ric on :
Didn't think of that but yeah. If you have enough rooms. So say 70% of your hotel is full from even low rent for hurricane victims and 30% at full rate where the hotel is at 100% or close capacity a night that would add up quick. Restaurants could be effected to. Because those in hotels would have to be eating out a lot. Remember the Memphis hotel is also close to this and also would probably see its effects.
The only problem is the expense side would be higher if they are giving a discount to hurricane victims. The net would probably be real low. The only downside to it.
Posted by mv on :
There has been very little trading in the last few weeks.It seems Ican is going to die.The problem is all the vital signs are good.It is among the best stocks in pinkyland.Well,there are only 2 ways for it to go:go away or go way up.Since its fundamentals are strong,it is not going to go away.Where is it going to go?You know the answer. Ican shouldn't be here in pinkyland!There are too few investors with an eye for value here(except us,of course).hahaha.
Posted by cagman23 on :
I just hope Ed doesn't disappoint us here. Vague PR's, no filings, high A/s and O/S puts doubts in investors minds.
No matter what anyone says, Ed has to take the correct steps... Ed is in control of the price per share here and can make this whole experience become a success for himself , his company and we the shareholders.
GLTA!!
CG
Posted by mv on :
Their doubts are our opportunities.If we wait until they stop doubting,can we still buy this great company at 0.0001-0.0002?Let them doubt,my friend.Let them doubt.
Posted by NomarKash on :
IBAC Corporation Memphis Airport Hotel Awarded a Cendent Hotel Group Franchise Monday October 17, 8:34 am ET
MEMPHIS, Tenn.--(BUSINESS WIRE)--Oct. 17, 2005--IBAC Corporation (ICAN:PK) today announced that it was officially awarded a Days Inn Worldwide franchise (A Cendent Hotel Group Company) for its Memphis Airport Hotel & Restaurant property. The conversion is expected to take place in mid to the end of November 2005. ADVERTISEMENT
The Company after significant review of several Brand Franchises determined that Days Inn Worldwide would be a perfect fit for the Memphis property, as it brings recognition of the Days Inn Brand and a state of the art worldwide reservation system with the backing of its parent company Cendant thus bringing significant additional value to the property.
"This is a major step in enhancing the value of this property and will generate increased revenues to company, this is just one aspect of our overall strategy to maximize asset value and revenues at this property, secondly we are awaiting approval for a Denny's franchise at that location once approved we will have a major operating asset at a major airport." Said Garry Becker, President of the Southern Hospitality Division.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants/lounge (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
-------------------------------------------------------------------------------- Source: IBAC Corporation
Posted by dalton05 on :
Maybe a move up today.Can't keep this down too much longer.
Posted by dalton05 on :
Can anyone explain to me why this would be heading south with the volume and Pr out this morning.
Posted by Clyde_Crashcup on :
The ask is .0001 and no one is on the bid (Level II)????
Posted by Bigrod40 on :
Its a God-Da** Days Inn. BIG FRIGGEN DEAL. Now maybe PR this so-called MERGER and it will mean something.
Posted by Clyde_Crashcup on :
I think the Days Inn deal is a good move, but the level II's have me wondering what's going on. 407M in volume and the ask is .0001 with no one on the bid. Any ideas?
Posted by cagman23 on :
What is up with this volume...Fricking craziness!! I take it these are all sells...am I right?? And if so, who can it be?
cg
Posted by Clyde_Crashcup on :
I left a message with investor relations at IBAC. Let's see if they call me back. The ask is now at .0002
Posted by dalton05 on :
1/2 hour into trading and volume is almost 600 million - this is nuts.
Posted by dalton05 on :
Are these buys or sells
Posted by dalton05 on :
It looks like a Billion shares will be traded before 10:30 am
Posted by Dudanation on :
I would guess buys.. price is too low for anyone to want to sell that.
Posted by dalton05 on :
wow!Finally back to 2
Posted by ziggy on :
You had to say it. Posted by atcspaul on :
lol ya 3 mil at .0002 then bam 20 mil at .0001
Posted by ziggy on :
Now just repeat after me. I think ICAN... I think ICAN... I think ICAN...
Then maybe we will get over the hill today
Posted by atcspaul on :
all i can say is i hope ed is buying but who knows. my hopes are sinking slowly on this one
Posted by cagman23 on :
Maybe Ed is buying under the radar here as pointed out by another poster on another board.
Posted by dalton05 on :
If ED is buying then he must know something because why would he buy if this is going to R/S or something or someone could be selling at .0001 at a loss which i doubt because its almost a billion shares traded.I think it could be one of two things.Either it's institutional buying or selling or someone on the inside knows what's going to happen - good or bad.I came to that conclusion because volume all of a sudden is huge without a great or bad PR.Just an average PR.
Posted by mv on :
Today is a strange day.I hope it is not April Fool.Did you guys buy some shares at 0.0001?
Posted by iwearpro on :
yep,I bought some..figure I might as well hold onto it. As far as im concerned,it should not go down from here,thats for sure.
Posted by johnny14511 on :
anybody buy for .0001?
anybody can post the time and sales?
Posted by Bluemound_Freak on :
a few
Posted by iwearpro on :
1000000 at .0001 for me this time,already been sitting on 8000000 at .0001 for a while.
Posted by johnny14511 on :
is most of the volume sells or buys
Posted by johnny14511 on :
IF YOU BUY AT .0001 THERES NOT TO MUCH TO WORRY BUT WAITING FOR IT GO GO UP A TICK
Posted by MrsRuth on :
I got more at .0001 only ways to go is up.... or out... UP, UP is good lol
Posted by mv on :
We are at the bottom.Usually it means the company is going bankrupt.But not this time.Ican is still strong.It has income,verifiable assets.It plans to move to ottbb.The price is artificially low.What do you guys think?
Posted by dalton05 on :
someone has fat fingers .001 - we wish
Posted by obey on :
what happend to ICAN .001 now
Posted by iwearpro on :
up 400%%%%%%%!!!!!!!!!!!!!!!!!
Posted by Bluemound_Freak on :
I only wish that it was true!
Posted by obey on :
yeah.. but what made that happend?
Posted by obey on :
.001 again~~ someone messed up the order again?
Posted by johnny14511 on :
ITS AT .001 AGAIN
MAYBE ITD TRYING TO SHOW YOU SOMETHING
Posted by tongusc on :
there has to be something is going on.
buyback? or bankrupt?
Posted by johnny14511 on :
GOOD NEWS TODAY THOUGH
Posted by Clyde_Crashcup on :
quote:Originally posted by tongusc: there has to be something is going on.
buyback? or bankrupt?
With the new bankruptcy laws, I think they would have done it before today.
Posted by mikensay on :
Is this the same location that they are applying for a Denny's franchise? If so, they would both compliment each other. However, I hate the idea of franchise fees, especially if it is tied negatively to the ebs of room stays.
Crossing my fingers for a new acquistion and also the merger...
Posted by noah129 on :
today is going to be an interesting one we will either in my opinion find out we are all bagholders of a worthless stock or we might just see that magical tick upwards today .i would love to just see it touch .0003 today and close at .0002.i think that would instill alot of confidance for investors to jump on board or add to their positions.i personally am not adding as i have lots of shares but i think it is a good risk to reward on ican right now the volume yesterday was huge on the franchise news but the stock movent was not.best of luck to all ican longs as it cant go much lower hehe. Posted by cagman23 on :
Huge Volume again today! Hopefully the company will let us in on what is going on. Something is brewing imo.
cg
Posted by bmaxingout on :
the thing that i find funny about that last pr is nowhere does it mention the name of edward hayter hmmm wonder why
Posted by Dudanation on :
Still got a lot of people bailing out at .0001. I picked up a million within 5 minutes of having my order in To me this is well worth the risk. The company seems strong enough to have that shot and losing a couple hundred bucks is like a typical wrong move on any given chasing day. We'll see what happens.
Posted by Allen on :
Anyone notice FGFC is doing some trading?
Posted by Dudanation on :
That means there's only $1740 invested in this company and there's been tons of trading going on. This means that they're buying back all their shares?
Posted by scoopman on :
Where did you get that OS number? That is extremly low based on the number of AS.
Posted by atcspaul on :
i called the ta company earlier and those figures are bogos. o/s right now is at 11.5 billion
Posted by atcspaul on :
also i tried a test sale at .0001 hopeing they were buying back shares and i left it for an hour and never was picked up so some one is selling shares and not buying
Posted by MrsRuth on :
hummmm... I put in a buy order for 500,000 and it went with in 2 minutes.......... not sure whats going on..... This will try If it runs with news of that merger thats great.... If it splits and dies like my NNNC?NANN I give up
Posted by johnny14511 on :
what happened with ican?
Posted by MrsRuth on :
I ment that i got filled * .0001 for 500,000 with ICAN, only took 2 minutes. Sorry I'm sick and running a fever. My thougths ran together on my last post lol I also was saying I lost $500.00 when NNNC did a reverse split and a name change to NANN earlier this month. I was feeling sorry for myself and was saying if I ICAN dont run I give up on stocks all together. Sorry for the confusion
Posted by atcspaul on :
i don't think we need to worry about a r/s. what we have in my opinion is people getting tired of holding and selling and basically most of those sells are being bought up. weed out the weak hands and hopefully those of us that hold will be rewarded. ed has said over and over again no revese splits and i have to say i believe him. it would serve no purpose
Posted by Dudanation on :
I got the 17.2M from sharebuilder.com and marketwatch.com What i like about this is it can't go any lower. It's either up or nothing. So there's really no worrying on our part. I took a few shares, may take some more later on if I feel better about it. People are getting sick of waiting and from what others say the company is fine. We just need some good news/results and it'll boom back up.
Posted by noah129 on :
we need profits not just rev's we need to become fully reporting not just talk about it.we need lots of things i think that something is up im not sure what is up but volume like that doesnt show up for no reason.i am happy that the volume has arrived for better or for worse.at least something should happen soon.i hope it is good for us longs but im getting frustrated playing pinks and have become a bit skeptical.i am hoping in this case that patience pays off.that is all ican do.
best of luck to you all 21,500,000 says i think i can i think ican.
Posted by MrsRuth on :
I am really sorry I did not mean that I thought ICAN was going to do a reverse split.... I wont post any more til we all become rich... ICAN ICAN ICAN.... sorry
Posted by noah129 on :
mrsruth i hope you succeed in the pinky land as you seem like a really sweet lady.best of luck to you in your microcapital adventures.
Posted by atcspaul on :
i second that
Posted by Ric on :
quote:Originally posted by Dudanation: I got the 17.2M from sharebuilder.com and marketwatch.com What i like about this is it can't go any lower. It's either up or nothing. So there's really no worrying on our part. I took a few shares, may take some more later on if I feel better about it. People are getting sick of waiting and from what others say the company is fine. We just need some good news/results and it'll boom back up.
Not saying it will go lower but technically yes it can. It can trade in the 5th digit and go as low as .00001. There are several trading at that level and since online programs don't show the 5th place you have to call the broker to trade at that level.
Posted by duediligence1 on :
quote:Originally posted by atcspaul: i don't think we need to worry about a r/s. what we have in my opinion is people getting tired of holding and selling and basically most of those sells are being bought up. weed out the weak hands and hopefully those of us that hold will be rewarded. ed has said over and over again no revese splits and i have to say i believe him. it would serve no purpose
Why would you believe Ed?
I mean he broke so many promises and thats why the stock is where it is. They promised a divy in a new OTCBB company, hyped and promoted a buyback all at the same time causing a run. Then after the run the o/s increased magically and the promised divy in the new OTCBB supposedly fell through. But now you want people to think he wouldn't go back on his word about a r/s after all that. Come on people, this is a common pinksheet p&d. It is right out of the play book.
Posted by TraderTom on :
Just some random thoughts:
First, there's no such thing as a "sell" or "buy" only - for every seller there has to be a buyer, and for every buyer there has to be a seller, otherwise, there's no trade.
I believe that someone who owns a lot of shares is tired of waiting and dumps their shares. The good news is that someone else sits at 0.0001 and picks them all up. So despite all the "selling" pressure, we never ran into a "no bid" situation, which actually happened just a week or 2 ago.
So the big question is: Does the seller know something (bad) and the buyer is just a big bagholder, or did the seller just panic and the buyer know something (good)? My feeling is we'll know soon.
Posted by atcspaul on :
not true the mm's do all the buying and all the selling on a pink. that is how they are shorted. sometimes the mm's will acumulate shares if they think thier is going to be a run. so thier is not always a buyer for every sell or visa versa.
Posted by MrsRuth on :
Thank you noah and acts.... I feel much better today, fevers gone..... But yikes my house.... ugh I think this is my house under all this stuff... If my house looks like this after being ill 1 1/2 days... Anyways I did want to say that I do learn alot from your conversations... Who are MM"S? Noah I am accused of being a nice lady but I can hold my own. Most of my children we care for are either ADD ADHD or have anger problems..( as I put it to one of my parents, we care for the children that their family members refuse to watch) lol SO I CAN HOLD MY OWN WHEN I HAVE TO Posted by Dudanation on :
How long does it usually take for a price to drop right back down to .0001 after an r/s? I'd think I could catch some idiot to buy my shares for like .0003 while the price is say. .0010?
Posted by mv on :
I believe we will see some pleasant surprise in the near future.The price is artificially depressed by a few investors who want to exit for no good reason.Impatience is a no-no in investing.Ican is still in great shape(in pinkyland standard,of course).You sell at 0.0001 only when the company is going bankrupt soon.Ican assets are worth at least 5 to 10 mil.The share price should be 0.0005-0.001.
Posted by B on :
Just got off phone with T/A, the o/s is 11,543,385,517. The a/s is 12 billion are you kiddng me. When does Ed plan on buying back?
GLTA
Posted by mikensay on :
So they have in fact been diluting. On the website it shows the O/S at 10.793B. (since 9/30/05) So, it looks like they diluted to the tune of $75,000
B,
Have you ever been able to talk with anyone from the company? (other than the receptionist) I've called and e-maile with no luck.
Posted by bmaxingout on :
quote:Originally posted by mv: I believe we will see some pleasant surprise in the near future.The price is artificially depressed by a few investors who want to exit for no good reason.Impatience is a no-no in investing.Ican is still in great shape(in pinkyland standard,of course).You sell at 0.0001 only when the company is going bankrupt soon.Ican assets are worth at least 5 to 10 mil.The share price should be 0.0005-0.001.
my freind i think that you might want to dd this back to january of this year ed is a lieing pos that is the reason pps is down nothing artificial about that
Posted by atcspaul on :
about the share count. i called and have gotton both figures the 11.5 bil figure i got over a month ago so i think thier is just some confusion thier. anyway i don't think ed would fool around dumping a few shares for 75 g. about ed buying back. i am not saying he is but he could be because that has no effect on the os. only if he retires his shares would it change. this stock is a big mistery but i am hanging on i know the risks so if it goes belly up oh well. i also know the rewards. if he has a forward merger with an otcc company to become reportable we are all in to make some healthy cash. we just have to wait and see
Posted by B on :
quote:Originally posted by mikensay: So they have in fact been diluting. On the website it shows the O/S at 10.793B. (since 9/30/05) So, it looks like they diluted to the tune of $75,000
B,
Have you ever been able to talk with anyone from the company? (other than the receptionist) I've called and e-maile with no luck.
Posted by B on :
quote:Originally posted by mikensay: So they have in fact been diluting. On the website it shows the O/S at 10.793B. (since 9/30/05) So, it looks like they diluted to the tune of $75,000
B,
Have you ever been able to talk with anyone from the company? (other than the receptionist) I've called and e-maile with no luck.
I stop trying to talk anyone from the company last month.
Posted by Dudanation on :
Dilluting at the lowest price possible is useless unless they don't expect to ever go up again.
Posted by mv on :
B,can you post the phone # of the TA,please?
Posted by B on :
quote:Originally posted by mv: B,can you post the phone # of the TA,please?
T/A's number is 801-266-7151.
Posted by Dudanation on :
This is a copy, of a copy from one of the boards it got posted at. If this is the case of ICAN, I know understand exactly what has been happening and the part about a symbol change is the only way out of it. I may be wrong, the problem COULD BE completely different.
+++++++++++++++++++++++++++++++++++++
Naked shorting into $0.0001, or, **Cellar Boxing** There’s a form of the securities fraud known as naked short selling that is becoming very popular and lucrative to the Market Makers that practice it. It is known as “Cellar boxing” and it has to do with the fact that the NASD and the SEC had to arbitrarily set a minimum level at which a stock can trade. This level was set at $.0001 or one-one hundredth of a penny. This level is appropriately referred to as “the cellar”. This $.0001 level can be used as a "backstop" for all kinds of market maker and naked short selling manipulations. “Cellar boxing” has been one of the security frauds du jour since 1999 when the market went to a “decimalization” basis. In the pre-decimalization days the minimum market spread for most stocks was set at 1/8th of a dollar and the market makers were guaranteed a healthy “spread”. Since decimalization came into effect, those one-eighth of a dollar spreads now are often only a penny as you can see in Microsoft’s quote throughout the day. Where did the unscrupulous MMs go to make up for all of this lost income? They headed "south" to the OTCBB and Pink Sheets where the protective effects from naked short selling like Rule 10-a, and NASD Rules 3350, 3360, and 3370 are nonexistent. The unique aspect of needing an arbitrary “cellar” level is that the lowest possible incremental gain above this cellar level represents a 100% spread available to MMs making a market in these securities. When compared to the typical spread in Microsoft of perhaps four-tenths of 1%, this is pretty tempting territory. In fact, when the market is no bid to $.0001 offer there is theoretically an infinite spread.
part 2
In order to participate in “cellar boxing”, the MMs first need to pummel the price per share down to these levels. The lower they can force the share price, the larger are the percentage spreads to feed off of. This is easily done via garden variety naked short selling. In fact if the MM is large enough and has enough visibility of buy and sell orders as well as order flow, he can simultaneously be acting as the conduit for the sale of nonexistent shares through Canadian co-conspiring broker/dealers and their associates with his right hand at the same time that his left hand is naked short selling into every buy order that appears through its own proprietary accounts. The key here is to be a dominant enough of a MM to have visibility of these buy orders. This is referred to as "broker/dealer internalization" or naked short selling via "desking" which refers to the market makers trading desk. While the right hand is busy flooding the victim company's market with "counterfeit" shares that can be sold at any instant in time the left hand is nullifying any upward pressure in share price by neutralizing the demand for the securities. The net effect becomes no demonstrable demand for shares and a huge oversupply of shares which induces a downward spiral in share price.
In fact, until the "beefed up" version of Rule 3370 (Affirmative determination in writing of "borrowability" by settlement date) becomes effective, U.S. MMs have been "legally" processing naked short sale orders out of Canada and other offshore locations even though they and the clearing firms involved knew by history that these shares were in no way going to be delivered. The question that then begs to be asked is how "the system" can allow these obviously bogus sell orders to clear and settle. To find the answer to this one need look no further than to Addendum "C" to the Rules and Regulations of the NSCC subdivision of the DTCC. This gaping loophole allows the DTCC, which is basically the 11,000 b/ds and banks that we refer to as "Wall Street”, to borrow shares from those investors naive enough to hold these shares in "street name" at their brokerage firm. This amounts to about 95% of us. Theoretically, this “borrow” was designed to allow trades to clear and settle that involved LEGITIMATE 1 OR 2 DAY delays in delivery. This "borrow" is done unbeknownst to the investor that purchased the shares in question and amounts to probably the largest "conflict of interest" known to mankind. The question becomes would these investors knowingly loan, without compensation, their shares to those whose intent is to bankrupt their investment if they knew that the loan process was the key mechanism needed for the naked short sellers to effect their goal? Another question that arises is should the investor's b/d who just earned a commission and therefore owes its client a fiduciary duty of care, be acting as the intermediary in this loan process keeping in mind that this b/d is being paid the cash value of the shares being loaned as a means of collateralizing the loan, all unbeknownst to his client the purchaser. An interesting phenomenon occurs at these "cellar" levels. Since NASD Rule 3370 allows MMs to legally naked short sell into markets characterized by a plethora of buy orders at a time when few sell orders are in existence, a MM can theoretically "legally" sit at the $.0001 level and sell nonexistent shares all day long because at no bid and $.0001 ask there is obviously a huge disparity between buy orders and sell orders. What tends to happen is that every time the share price tries to get off of the cellar floor and onto the first step of the stairway at $.0001 there is somebody there to step on the hands of the victim corporation's market.
Once a given micro cap corporation is “boxed in the cellar” it doesn’t have a whole lot of options to climb its way out of the cellar. One obvious option would be for it to reverse split its way out of the cellar but history has shown that these are counter-productive as the market capitalization typically gets hammered and the post split share price level starts heading back to its original pre-split level
part 3
Another option would be to organize a sustained buying effort and muscle your way out of the cellar but typically there will, as if by magic, be a naked short sell order there to meet each and every buy order. Sometimes the shareholder base can muster up enough buying pressure to put the market at $.0001 bid and $.0002 offer for a limited amount of time. Later the market makers will typically pound the $.0001 bids with a blitzkrieg of selling to wipe out all of the bids and the market goes back to no bid and $.0001 offer. When the weak-kneed shareholders see this a few times they usually make up their mind to sell their shares the next time that a $.0001 bid appears and to get the heck out of Dodge. This phenomenon is referred to as “shaking the tree” for weak-kneed investors and it is very effective.
At times the market will go to $.0001 bid and $.0003 offer. This sets up a juicy 200% spread for the MMs and tends to dissuade any buyers from reaching up to the "lofty" level of $.0003. If a $.0002 bid should appear from a MM not "playing ball" with the unscrupulous MMs, it will be hit so quickly that Level 2 will never reveal the existence of the bid. The $.0001 bid at $.0003 offer market sets up a "stalemate" wherein market makers can leisurely enjoy the huge spreads while the victim company slowly dilutes itself to death by paying the monthly bills with "real" shares sold at incredibly low levels. Since all of these development-stage corporations have to pay their monthly bills, time becomes on the side of the naked short sellers.
At times it almost seems that the unscrupulous market makers are not actively trying to kill the victim corporation but instead want to milk the situation for as long of a period of time as possible and let the corporation die a slow death by dilution. The reality is that it is extremely easy to strip away 99% of a victim company’s share price or market cap and to keep the victim corporation “boxed“ in the cellar, but it really is difficult to kill a corporation especially after management and the shareholder base have figured out the game that is being played at their expense.
As the weeks and months go by the market makers make a fortune with these huge percentage spreads but the net aggregate naked short positions become astronomical from all of this activity. This leads to some apprehension amongst the co-conspiring MMs. The predicament they find themselves in is that they can’t even stop naked short selling into every buy order that appears because if they do the share price will gap and this will put tremendous pressures on net capital reserves for the MMs and margin maintenance requirements for the co-conspiring hedge funds and others operating out of the more than 13,000 naked short selling margin accounts set up in Canada. And of course covering the naked short position is out of the question since they can’t even stop the day-to-day naked short selling in the first place and you can't be covering at the same time you continue to naked short sell.
What typically happens in these situations is that the victim company has to massively dilute its share structure from the constant paying of the monthly burn rate with money received from the selling of “real” shares at artificially low levels. Then the goal of the naked short sellers is to point out to the investors, usually via paid “Internet bashers”, that with the, let’s say, 50 billion shares currently issued and outstanding, that this lousy company is not worth the $5 million market cap it is trading at, especially if it is just a shell company whose primary business plan was wiped out by the naked short sellers’ tortuous interference earlier on.
The truth of the matter is that the single biggest asset of these victim companies often becomes the astronomically large aggregate naked short position that has accumulated throughout the initial “bear raid” and also during the “cellar boxing” phase. The goal of the victim company now becomes to avoid the 3 main goals of the naked short sellers, namely: bankruptcy, a reverse split, or the forced signing of a death spiral convertible debenture out of desperation. As long as the victim company can continue to pay the monthly burn rate, then the game plan becomes to make some of the strategic moves that hundreds of victim companies have been forced into doing which includes name changes, CUSIP # changes, cancel/reissue procedures, dividend distributions, amending of by-laws and Articles of Corporation, etc. Nevada domiciled companies usually cancel all of their shares in the system, both real and fake, and force shareholders and their b/ds to PROVE the ownership of the old “real” shares before they get a new “real” share. Many also file their civil suits at this time also. This indirect forcing of hundreds of U.S. micro cap corporations to go through all of these extraneous hoops and hurdles as a means to survive, whether it be due to regulatory apathy or lack of resources, is probably one of the biggest black eyes the U.S. financial systems have ever sustained. In a perfect world it would be the regulators that periodically audit the “C” and “D” sub-accounts at the DTCC, the proprietary accounts of the MMs, clearing firms, and Canadian b/ds, and force the buy-in of counterfeit shares, many of which are hiding behind altered CUSIP #s, that are detected above the Rule 11830 guidelines for allowable “failed deliveries” of one half of 1% of the shares issued. U.S. micro cap corporations should not have to periodically “purge” their share structure of counterfeit electronic book entries but if the regulators will not do it then management has a fiduciary duty to do it.
Posted by Ric on :
Well, the first thing that comes out when these companies ruin their own stock is Naked shorting. This company put itself in this problem whether there is or isn't shorting going on. They are the ones that made promises that ran this stock that was in the cellar to begin with. Promises of divy's in a otcbb, and promises of buybacks. Then they turned on the very investors that bought into these promises. This company was nothing before the promises were made. And what did you get out of the promises, .0001 and a huge o/s.
The dilution is why this stock is here. Yes the MM's like the .0001 .0002 play but you need volume to make this play work. This company didn't need NSS whether there is some or not. The company put this stock at this price and no matter what anyone thinks, 11 billion shares for a small business is astronomical and is worthless.
Besides this is a heavy expense company. The expenses heavily out way the profits. Thats why they announce gross sales and not net because they don't want you to know what they really make. Also, everyone keeps talking about assets but no one seems to mention how much is the assets mortgaged to. The banks my own the assets if it is dissolved so that means nothing to the PPS unless you know the facts and the company won't give you that.
Posted by mikensay on :
Questions:
Looking at the website, I see that the Memphis site is marketed as a Ramada. The latest PR they were awarded a Days Inn franchise for the Memphis facility.
These are one in the same location, yes?
Why would they change over from a Ramada to a Days Inn?
Posted by johnny14511 on :
hey is this company going trough dilution
Posted by Dudanation on :
Yes everyone's talking about how there's dillution and how they'll never pull out of the .0001 and then they go up for the day. People are definitely still buying this stuff and the non-believers are started to be beaten by the non-believers.. or maybe it's a fluke.
Posted by johnny14511 on :
do you own this?
Posted by mikensay on :
I think it's just frustration.
Read the last few PR's. There's good news, there's monthly revenue numbers, there's a merger announcement...
The problems are that it's difficult to get in touch with the company, they are not fully reporting so their monthly numbers really mean nothing.
All in all things are looking good for the company as a whole but we need to be fully reporting and there needs to be an understanding of why the share price is where it is. Is there Naked short selling?
Posted by johnny14511 on :
WELCOME HATER
GLTYAAYT
HFTITPSM
Posted by NomarKash on :
oh boy, here come the rb bashers
Posted by mikensay on :
I just about fell off my chair. I finally received a response from them. Unfortunately, I didn't include all my questions. I've got about 12 e-mails with varying questions.
Someone else, please submit questions. I'll be responding and posting whatever replies I get.
From: "B.Denenberg" <B.Denenberg*ibaccorp.com> [Add to Address Book] [View Source] To: mikensay*xxxxxxxxx Subject: RE: clarification Date: Mon, 24 Oct 2005 17:28:33 +0000
Dear Sir/Madam
Please find the response below to your questions, I hope this helps and feel free to contact whenever.
From: mikensay*xxxxxxx [mailto:mikensay*xxxxxxxxxx] Sent: Monday, October 24, 2005 12:47 PM To: info*ibaccorp.com Subject: Re: clarification
-------------- Original message --------------
I am looking for clarification on past press releases. Please answer the following questions.
You PR'd that the company will buy back $500,000 worth of stock within a 6 month period. Is this on going, completed, or being put off until the merger into the reporting company?
The process is ongoing and will be announced when completed.
Of the stock that is being bought back, are they being retired or just bought back?
Any shares that the company buys back will be retired to the treasury.
You PR'd that another acquistion will be completed in August, what happened with this?
The company for certain business reasons including what we believed to be the value of the acquisition decided not to complete that acquisition, we are constantly looking for other acquisitions.
Your clarification is appreciated.
Thank you,
Posted by Doctoall on :
People want to know what is happening?
Posted by mv on :
Sure doc.What's up?
Posted by Doctoall on :
quote:Originally posted by mv: Sure doc.What's up?
Good question, nothing with this stock that I can see Posted by atcspaul on :
lol
Posted by noah129 on :
shshhhhhhshh its quiet here !!!
now repeat after me i think ican i think ican heheh brainless pumping everyone should dump this stock its dead.just joking i dont know what to think i still have a boatload and this is becoming boring.i have thought about dumping but then the thought of dumping my shares and then all of a sudden it runs kills me so instead i hang on faithfullly to a dead stock.i hold my ican bag with pride.ican hold this bag for as long as it takes.come on ed give us something pleeeeeeaaaaaasssssseeeee this bordom is killin me hehehehe.
best of luck to all just needing to vent a bit.
Posted by MrsRuth on :
heheheheh noah still in this one.... I rather let it die then sell it lol
Posted by mv on :
It 's not dead.It just needs cpr.All ED needs to do to revive it is a share buyback.Let me see.He promised $500,000 to buy back.That is 5 bil shares.Ican can rise to 0.002 easily .
Posted by mikensay on :
In the message I received, posted above, the IR person stated that the process is ongoing but then said that any stocks bought back would be retired. It sounded to me like the company has yet to buy any back.
Posted by MrsRuth on :
I didnt say ICAN was dead..... I said I am in this one still, havent broke down and sold as some are doing... I am in this one til it runs to the hills and makes us rich... or...... But I did not say it was dead yet. ~
Posted by noah129 on :
anyone been able to get ahold of our ceo lately i think he has a bit of explaining to do .
Posted by mikensay on :
No, but I did get a response, although not too informative, from their investor relations.
I sure wish we'd see a pr about the merger, audit, findings on nss, buy back, new purchases, company response to the share price, price of milk and bread. Well, okay, I can find out the last two if Ed would pony up info on all the rest.
Posted by B on :
I just emailed investor relations with some questions I want answered. I'm posting a copy.
1. What is Mr. Hayter doing to get the PPS to move upward ?
2. Is Hayter really negotiating a deal for a merger ?
3. If so, what is the status of the deal ?
4. Did Hayter lie to shareholders about the audit ? (this audit been going on for months what's the problem)
5. What is Hayter planning on doing to restore shareholder confidence in him & the company ?
6. When is Hayter going to do the buyback ?
Mr. Hayter has an image problem that he needs to address, he has lost shareholder's confidence.
I need to know if Hayter plans on making this a viable company or not.
Email: brandmcs5211*yahoo.com
Posted by ACKCANE on :
Very professional! Too bad it wasn't in crayon. What do you expect the response to be.
1) Nothing 2) Maybe 3) 2 weeks 4) Yes, I lied. 5) Skiing 6) When you give me more of your money.
If you don't think it is a viable company. Sell your shares.
If you bought at a higher pps than .0001 then right it off. If you don't make enough or have enough to right it off, then what are you doing investing in a penny stock to begin with?
Posted by B on :
quote:Originally posted by ACKCANE: Very professional! Too bad it wasn't in crayon. What do you expect the response to be.
1) Nothing 2) Maybe 3) 2 weeks 4) Yes, I lied. 5) Skiing 6) When you give me more of your money.
If you don't think it is a viable company. Sell your shares.
If you bought at a higher pps than .0001 then right it off. If you don't make enough or have enough to right it off, then what are you doing investing in a penny stock to begin with?
I have enough money to ride this out. You don't worry about what I do with my money and I sure as hell don't take investment advice from you.
These are questions on shareholders minds so I emailed investor relations for some answers. I'm interested in their response as I'm sure others are too. I will post the response if and when I get one.
As for you, if you have nothing intelligent to add then do us all a favor and take your infantile behavior back to Raging Bull and leave the investing to the adults!!!!
Posted by Clyde_Crashcup on :
Level II shows a transaction/last trade of 0.00
Besides the obvious, any ideas why or how?????
Posted by atcspaul on :
any trades less then .0001 show as 0.00. someone most likely sold at market.
Posted by johnny14511 on :
just sell at .0001 and move on
Posted by mikensay on :
If history is any indication, next week we should see their monthly PR stating their numbers tied to the ever elusive internal accounting.
Though it's fairly common to see a PR with multiple items, hopefully it will mention one of the many outstanding questions.
Posted by noah129 on :
ED GIVE US A CHANCE PLEASE!!!
sorry for the caps guys im just praying and hoping that ed reads this and realizes that he has made a fool out of his loyal long term investors.i dont care if someone disagrees with me that im not a true long or this or that the fact of the matter is i have been in this stock a long time relatively for being a pinky and ive been promised lots of things and ed has not done us right.i would like to see something relating back to all that buyback talk and maybe something to do with the merger or reporting status.please if your reading this ed give us a chance we have given you our money and what are you doing with it.this stock is so undervalued if you half of what you say is true.so spend a bit of money do the buyback get us reporting and off to a new exchange and then continue to buy distressed properties and turn them into profitable business's.ok sorry for the whining guys ive just been so frustrated with pink sheet stocks lately.best of luck to all that are playing in pink land .
sincerely a qbidiot who thinks ican. ppppppppprrrrrrrrrrrrmmmmmmmm man i picked three interesting ones huh........hehehe (prrm,ican,qbid) two of the three i still have a bit of hope for one of them im certain will be a great long term hold.
Posted by NomarKash on :
I have been in this stock for a year now, I'm bored to death but still holding. Correct me if I'm wrong:
IBAC only owns the Sanibel Steakhouse in Bonita Spings, Florida right? They decided against buying the one out on Sanibel Island and they don't own the one in Naples on Vanderbilt Beach Road. Anyways I was down in Naples last week and ate at Sanibel Steakhouse, although it was the one on Vanderbilt Beach road. Another outstanding meal. If you guys haven't tried it you are missing out. Their filets are unreal! But they charge a pretty penny, $325 for 7 people and that was with a buy one get one dinner free coupon. 3 free entrees got us $90 off the bill.
So who knows what is wrong with IBAC but its not Sanibel Steakhouse because that place rocks!
[ November 07, 2005, 13:00: Message edited by: NomarKash ]
Posted by NomarKash on :
whoo-hooo price is at zero!
free, come and get it!
Posted by bmaxingout on :
whats wrong with IBAC is edward hayter he has a real problem with telling the truth. if it comes out of the mouth of edward hayter it needs to be discounted right away this man has lied to his shareholders from the very begining and hasnt stopped. imoh ican goes gray before the year end. now thats not bashing thats a fact.edward will not file and ican will go into the cellar i have followed ican since 2004 and everything ed has said was a lie. investors/trader beware bmax,
Posted by bmaxingout on :
ican had 1.3 billion shares ed swore on the lifes of has children that he was diluting he said to all of his shareholders on paltalk six months later over 10 billion sure feel sorry for his kids
Posted by bmaxingout on :
sorry typo (he said he was not diluting)
Posted by B on :
Hmmmmmmmmm, no revenue pr!!!
Posted by NomarKash on :
quote:Originally posted by B: Hmmmmmmmmm, no revenue pr!!!
no volume, no buying, no interest either.
Posted by miagiavonni on :
MrsRuth, you tell em lady!!!!!!!^5
Posted by imakmony2005 on :
LOSTED DUMP IT IF YOU CAN, I HOPE UCAN.
Posted by noah129 on :
just a question im not pumping this and im as upset as anyone else but why sell right now? its not like it can go any lower.well for me i knew it was a gamble i think i got suckered but my shares are not for sale until we get a little movement.ill hold this till it goes belly up or until i make a few bucks.just my humble opinion but i like any of you am not happy with how this all turned out.i guess that is life in pinkland hehe. 21.5 million says i think ican i think ican. i think ican call my pyschologist now hehe.
Posted by NomarKash on :
quote:Originally posted by imakmony2005: LOSTED DUMP IT IF YOU CAN, I HOPE UCAN.
Honestly what's the point in dumping now?
Posted by mikensay on :
It hasn't been a fun ride watching my portfolio dwindle but the nice thing is that we know there are physical assets tied to this company. Not that we know whether they're mortgaged to the hilt or not but to invest in a pink with real assets and a viable business plan I think we just need to wait a few more weeks, months, or years to get our desired result. (HA)
I just wish we would get communication from the Investor relations department. I don't like to forward on the e-mail I forwarded on the day before...etc. with no response.
Here's hoping for a nice jump in the near future.
Posted by Clyde_Crashcup on :
quote:Originally posted by mikensay: It hasn't been a fun ride watching my portfolio dwindle but the nice thing is that we know there are physical assets tied to this company. Not that we know whether they're mortgaged to the hilt or not but to invest in a pink with real assets and a viable business plan I think we just need to wait a few more weeks, months, or years to get our desired result. (HA)
I just wish we would get communication from the Investor relations department. I don't like to forward on the e-mail I forwarded on the day before...etc. with no response.
Here's hoping for a nice jump in the near future.
I have sent e-mails with no success and even called with no one calling me back. I guess Ed is hiding from the investors.
Posted by mikensay on :
quote:Originally posted by Clyde_Crashcup:
quote:Originally posted by mikensay: It hasn't been a fun ride watching my portfolio dwindle but the nice thing is that we know there are physical assets tied to this company. Not that we know whether they're mortgaged to the hilt or not but to invest in a pink with real assets and a viable business plan I think we just need to wait a few more weeks, months, or years to get our desired result. (HA)
I just wish we would get communication from the Investor relations department. I don't like to forward on the e-mail I forwarded on the day before...etc. with no response.
Here's hoping for a nice jump in the near future.
I have sent e-mails with no success and even called with no one calling me back. I guess Ed is hiding from the investors.
I've had one or two e-mail responses, posted them on this board but their percentages aren't very good.
Posted by MrsRuth on :
Can anyone see level 2 in ICAN land? BTW I added another 800,000 just cant beat the .0001 price lol Have a good weekend everyone
Posted by m69jump on :
NEVER EVER TRUST ED HAYTER..........JMO
Posted by NomarKash on :
quote:Originally posted by m69jump: NEVER EVER TRUST ED HAYTER..........JMO
Great insight!
Posted by QuestSolver on :
.0001? I gotta have a peek at this one myself.
Posted by imakmony2005 on :
ive had a sell at .0002 for months, nothing.
Posted by Double Diamond on :
It's mighty quit here + from ICAN ?
What's up ?
Posted by mikensay on :
Not the s/p. I just keep forwarding my e-mail to them every day. Of course no reply.
Also, given their track record they should have posted their unaduited numbers by now.
Here's the good news....We've got volume. Bad news: All told, there has been $172.50 worth of volume.
Posted by noah129 on :
ed give us a bone to chew on something please this is not exceptable behavior by a ceo.i am now officially considering legal action against this ceo for false and misleading comments.ok just joking but it feels good to think that a lawsuit would actually be worth the efforts.best bet on this is a spontaneous rally up to .0004 where us longs dump big time at .0003.hehehe wouldnt that be nice after such a long boring ride.
Posted by Clyde_Crashcup on :
I cut and paste from allstocks and send it to ed all the time. Here's his email address incase someone wants to send him a love letter. ehayter*ibaccorp.com
Posted by Clyde_Crashcup on :
My account shows 0.00
Ed's the man !!!!
Posted by mikensay on :
quote:Originally posted by Clyde_Crashcup: My account shows 0.00
Ed's the man !!!!
Yeah, it's free again.
Posted by mikensay on :
NEW YORK, Nov 16, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK) today announced revenues for the month of October for The Sanibel Restaurant Group, Memphis Ramada Hotel and The Royal Arkansas Hotel & Suites of $487,585.32 combined. These revenue figures are compiled from internal company accounting/bookkeeping and are subject to audit by the company's independent accountants/auditors.
For the month, The Sanibel Restaurant Group revenues were below the seasonal average due to the restaurant being closed for 4 days due to the hurricane, we anticipate a return to expected average revenues this month. The Royal Arkansas Hotel & Suites had a gain over last year on increased banquet sales and room sales for the month and we expect to see this continue for November. The newly acquired Memphis Airport Ramada had an increase of 20% in revenues over the same period last year (The Company did not own the property last year).
Posted by Bigrod40 on :
Pretty dam good for an outfit we thought was dead. Now if Eddie could just release the so-called merger deal. Posted by ACKCANE on :
How much of that $487,585.32 goes to debt service?
Posted by mikensay on :
The audit is not released so no one knows.
Posted by ACKCANE on :
So they could be losing money?
Posted by mikensay on :
What company doesn't? With these pennies, I think the right questions to ask are in relation to potential and physical products/services/assets. Ican does have a good model and also potential. As long as they are financing well, which I tend to think they are given Ed Hayters background, read his bio on their website.
For me, I think this could be a good company as long as they address their past PR's and move into a fully reporting company.
Good luck!
Posted by ACKCANE on :
I agree.
Posted by noah129 on :
i dont know this seems like a shady pinky to me, dont get me wrong i like anyone else holding this bag want it to go up but ed seems like a slimy one i think he has lost my trust.i will hold this no matter what as im just that type of person all or nothing but it has been a bit of a boring ride lately.
21.5 million says i think ican i think ican.
Posted by MrsRuth on :
Be very nice to see this start moving before x-mas
Posted by mikensay on :
Be nice to see an honest report of what is going on. I'm just a bit ticked that they rarely return my calls or e-mails...from IR no less.
At the begining of the year they were expecting to be fully reporting and into the 'shell' company by middle to end of 2nd quarter.
Monthly revenues were supposed to be around 800K, but this last month we're looking at 487K
The O/S have increased to 10.7B
Oye.. I'd feel a bit better if we could just get off the ground floor.
Posted by noah129 on :
i aggree mikensay lets just hope this giant awakens one day as it has been pretty much sleeping for a long time now. ed give us something we stuck this out now its your turn to reward the shareholders again.how about a huge buyback considering it is almost nothing to buy up these shares.
Posted by MrsRuth on :
Ohhh look we are at 0.0000 again FREE FREE FREE Posted by noah129 on :
hey folks just thought i would pop in and say i think ican i think ican hahaha. its gonna take some serious buying to get this thing moving again or a wonderful pr. maybe eddy will surprise us with a buyback completion pr that would be sweet huh......... pump pump pump up up up and away hahahaha.........
Posted by farmgirl on :
I think this stock needs a kick start. I am still sitting on my shares and am begining to think I will be for life.
Posted by noah129 on :
quote:Originally posted by farmgirl: I think this stock needs a kick start. I am still sitting on my shares and am begining to think I will be for life.
hey farmgal just thought i would pop in and say sometimes the patient are rewarded. im not sure it will be on this stock but who knows. at least we saw a bit of buying today that is unusual for us these last few weeks/months. good luck to all icaners maybe we will get a pleasant surprise oneday that ican is buying back shares and retiring them. one can dream cant we hehehe. Posted by farmgirl on :
I believe dreams are wonderful. I will dream that this stock soars. Realistically though I wish it would move. Do we know if Ed is still feeding victims or if he is puttong any of them up or anything?
Posted by Clyde_Crashcup on :
quote:Originally posted by farmgirl: I believe dreams are wonderful. I will dream that this stock soars. Realistically though I wish it would move. Do we know if Ed is still feeding victims or if he is puttong any of them up or anything?
I just sent them an email - I'll post any results.
Posted by farmgirl on :
thank you
Posted by NomarKash on :
Clyde tell thank you for the free shares. Its free again today!
Posted by farmgirl on :
I also sent Ed an amail this morning. If he responds I will let you know.
Posted by mikensay on :
I'll be surprised if you actually get a response. I've been sending e-mails daily for the past few weeks and have been ignored.
The previous PR's throughout this year made me pretty impressed with the company, however, this is frustrating to watch this thing just linger around the drain.
I actually thought we'd have a good year.
Posted by farmgirl on :
It never hurts to try so I did. Who knows this could be our lucky day and someone answers.
Posted by mikensay on :
No, you're right it doesn't hurt to try, and I have. I'm Just dissappointed by my purchases this year.
Good luck and bring us some news.
Posted by noah129 on :
how long has it been since they put out a pr?
have the authorized shares been raised or decreased ? what is ed doing to get us off the basement or out rather? these are all questions that im wondering if anyone has the answers to.i have tried to contact ican(ibac corp) but am never able to talk to anyone who knows anything.hmmmmmmmmmmmmm............
i guess its a game of patience right now.
i think ican i think ican. well my shares certainly are not free if anyone wants them im selling them all for .0005 heheh i can dream right.
Posted by DWE on :
For all the people who are disappointed with bad investments made in 2005, 2006 is a whole different year. A year of prosperity for all! 2005 was bad for me too but I'm sure looking forward to January 2006 WITHOUT IBAC Corp.! Look into CWFG or SSTY instead.
Posted by noah129 on :
so DWE have you sold your shares in ibac?
im holding this until we run or reverse split.i think ican will one day get a little bounce not sure why i think this maybe im just being hopeful.
happy holidays to you all.
sincerely noah.
Posted by DWE on :
noah129..... I just don't think there's money in this type of business especially with limited assets. I'm sure IBAC Corp. will do good one day but to me, now just isn't IBAC's time. The stock also lacks much volume needed. There were 3 trades made today for ICAN.
Posted by whoknows on :
I guess someone is still breathing over there...
--------------------
IBAC Corporation Reports November Revenues and Status of Audits Tuesday December 6, 2:31 pm ET
NEW YORK--(BUSINESS WIRE)--Dec. 6, 2005--IBAC Corporation (ICAN.PK) today announced revenues for the month of November for The Sanibel Restaurant Group, Memphis Ramada Hotel and The Royal Arkansas Hotel & Suites of $351,532.88 combined. These revenue figures are compiled from internal company accounting/bookkeeping and are subject to audit by the company's independent accountants/auditors.
ADVERTISEMENT For the month, The Sanibel Restaurant Group revenues were below the months expected average due to several unrelated business events, we anticipate a return to normal revenues plus a significant increase for the month of December due to a significant amount of banquet & party bookings for the holiday season. The Royal Arkansas Hotel & Suites had a significant gain over last year for this time on increased banquet sales and room sales for the month and we expect a tremendous increase in revenues for the month of December due to an extraordinary amount of holiday bookings. The newly acquired Memphis Airport Ramada had an increase of revenues over the same period last year and we expect to see an increase in revenues continuing.
The Status of the company Audits is as follows: The company acquired The Royal Arkansas Hotel & Suites in March of 2005, The Memphis Hotel in June of 2005 and The Sanibel Steakhouse in January of 2005 thus the operating history is limited to the time we have owned these properties, for a proper audit to be performed it is required that a two year financial history be available and the company has had some difficulty in achieving that requirement as to third party delays (the sellers) in producing said information. The company apologizes for the delay of the audits and expects their completion in the very near future.
"I would like to address several shareholder questions and concerns regarding the company going forward, I apologize for the delay of the audits as it is has been to long in the making, I can ensure you all that we will have them very soon. We continue to operate business as usual and plan on building a great company and moving up to the OTCBB in the very near future. We will also be announcing the progress of our share buy back very soon. We would like to wish everyone a very happy holiday season," said Edward W. Hayter, President IBAC Corporation.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants/lounge (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide/Memphis Airport Ramada; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Contact:
IBAC Corporation Investor Relations, 718-891-8188 Fax: 775-320-5437 Investorrelations*ibaccorp.com www.ibaccorp.com Posted by mikensay on :
Yeah, at least there was an apology for the lack of communication.
But as the audit situation goes, they knew that they needed 2 years records. Whether they knew or not if the previous companies were going to not produce their records so quickly or not is the question.
I still like the company, I'm hopeful to see updates 'in the very near future' (to me that's like 3 days) but don't really expect anything until next year.
Good luck to us all.
Posted by Fre on :
What Hayter told about the 'Days inn' franchise seems to be correct:
Would someone be so kind to call one of these numbers and ask for some information? (I'm from Belgium)
Posted by Bigrod40 on :
I thought the Ramada was a Days Inn Now??? My Christ does Ed not even Know what the Hotel Names are anymore?? Were going below .00000001 very soon,,,,LOL
MEMPHIS, Tenn., Oct 17, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN:PK) today announced that it was officially awarded a Days Inn Worldwide franchise (A Cendent Hotel Group Company) for its Memphis Airport Hotel & Restaurant property. The conversion is expected to take place in mid to the end of November 2005.
Posted by ACKCANE on :
If the conversion was to take place by the end of Novemeber, then what is wrong with saying the NOVEMBER revenues were under the Ramada Inn? What am I missing?
Posted by DWE on :
IBAC CORP..... Not worth the time and money. Just my opinion.
Posted by Fre on :
BTW what about revenues (and news) for 'National Hospitality Management Services' and 'Monarch Entertainment Group Worldwide'?
Posted by Fre on :
Another PR:
IBAC Corporation Memphis Airport Hotel Updates Progress at its Property Wednesday December 7, 9:32 am ET
MEMPHIS, Tenn.--(BUSINESS WIRE)--Dec. 7, 2005--IBAC Corporation (ICAN:PK) today announced an update to the hotel's change of franchise to a Day's Inn and the pending Denny's franchise application for the restaurant parcel.
The Company, after significant review of several Brand Franchises determined that Days Inn Worldwide would be a perfect fit for the Memphis property and has been approved for said franchise pending certain upgrades that are underway. At this time we expect these required upgrades to be completed shortly. The conversion to a Days Inn Brand brings a state of the art worldwide reservation system with the backing of its parent company Cendant thus bringing significant additional value to the property.
The Company has been unable to reach an agreement with Denny's for a franchise at its property and has elected to pursue a Country Kitchen franchise www.countrykitchenrestaurants.com. The Company has been preliminarily approved for said franchise and is working towards the completion of said deal. Copies of the pre approval letter can be viewed at the company's web site www.ibaccorp.com/message.php under presidents letter. The Company is committed to the opening of the restaurant at the property as it will add significant revenue to its Memphis property.
"These are major steps towards enhancing the value of this property and will generate increased revenues for the company at this location, this is just one aspect of our overall strategy to maximize asset value and revenues at this property. We are currently considering additional hotel/restaurant properties to purchase at this time and will announce them upon completion of a deal. I would like to wish everyone a very Happy & Healthy Holiday Season," said Garry Becker, President of the Southern Hospitality Division.
Posted by cagman23 on :
Hopefully we will end the year with some more positive news of buyback or completed audit. Then start the new year off right with an upswing in the pps to reward all those loyal shareholders here....jmho...fwiw.
CG
Posted by NomarKash on :
See Below.
Looks's like Country Kitchen's are open 24-7 as well. Guess there is no real difference between a Denny's and a Country Kitchen.
Posted by NomarKash on :
where in belgium do you live ?
Posted by farmgirl on :
Nomar. I think that 24/7 is only good if you can cover the bills while being open.
Posted by NomarKash on :
quote:Originally posted by farmgirl: Nomar. I think that 24/7 is only good if you can cover the bills while being open.
Yeah but from previous posts on the location of the Day's Inn its by the airport. Airports are buzzing all the time. Its probably good to have a restaurant thats open all the time.
Posted by farmgirl on :
good point
Posted by Fre on :
quote:Originally posted by brackep: fre,
where in belgium do you live ?
That'll be Ghent.
What I found strange on the papers (Days Inn and Countrykitchen)was the date. Why did they wait more than a month (oct 31) to inform us?
Posted by brackep on :
Fre
I live in Zaffelare near Lochristi ... so that's not far
Posted by farmgirl on :
I think we all started emailing the company asking questions and they finally had to answer.
Posted by scoopman on :
I am just glad to see some interest, albeit small, in ICAN again. I have just sat back with the attitude, I am not selling at this price. I am just hoping to see the price climb a bit and reward those of us who have stuck it out since earlier this year.
Tom
Posted by Allen on :
Denny's has a bad rap around Memphis and I am glad for the change. I will be trying out the Country Kitchen as soon as it opens.
Posted by HossTrader on :
So at this point do we at least get a discount on a room or maybe lunch if we are in Memphis?
Posted by noah129 on :
well folks i just thought i would put out their that the company states they are buying back again. i had a sell order in all day for .0001 and nobody picked it up. strange to me.
how much lower does ed want this to go before he actually buys back shares. im glad i didnt get filled even though i wanted to use the money elsewhere. all too often it seems and im sure many of you can relate. the minute you sell the stock wakes up.
oh well i guess im sticking this out. maybe ed isnt totally full of shiz or maybe he's a great sneaky liar which saying that makes for a perfect pinky ceo.
good luck to you all sincerely noah the qbidiot. 21,500,000 says i think ican i think ican .
Posted by imakmony2005 on :
here to gez.
Posted by noah129 on :
hi imakemoney do my utterly overly optimistic posts bother you or are you as frustrated as i am with these pinkies.
the three pinks im left holding and please all you out their dont laugh. im currently holding a bit of prrm, 21.5 mil of ican, and 22 mil of qbid.
this was my first year playing the pinkies i made the biggest mistake to never take profits only a couple of times when i got up. for instance i was up 100% on twog and decided nah this is going higher higher and higher, shortly after i needed the money and sold for a loss.never again will i make the mistake to not take some off the table.
if you are new to pinks learn from my experience. take a good amount off when you are up on a stock and let the freebees ride. that way if it goes down you at least preserved your capital and if it skyrockets well at least you get a bit of a ride with the free shares.
best of luck to all. sincerely a desperately hopeful qbidiot i think ican i think ican pprrrmmmmm its gettting cold over here on the east coast. Posted by imakmony2005 on :
GOOD LUCK.
Posted by DWE on :
Try CWFG - Commonwealth
I think they have much better potential due to the recent CEO transition.
Posted by explorer186 on :
noah you’re going in the right direction, but let me also give you some advice from a person who started off on the right foot, drifted down to penny land where he became blind, and now is back onto the right foot, myself: Stick with non-dilutive, performing and executing companies. It's really not worth the risk to play speculatively in penny land, especially these days after all the abuse penny investors suffered by the hands of companies who don't take their stocks seriously. Billions have been lost already, and are still being lost in penny land from thieving in all directions: companies, shorters, manipulators, and financers.
I'll be taking this grand theft to the SEC. Something has to be done about it, and done now. Unfortunately, when I fell for the "who cares what a company does and how it is, a stock will always go back up" mentality, I sold many on this ICAN lose my ass stock. Sorry to some of you out there.
We have to start looking more closely at the stocks they plan on purchasing. As long as we're waiting for the SEC to get to work, help yourself and others by participating in this forum:
For companies that are priced between $0.0001 and $0.0002, I personally would avoid the following: GLBT, GMCI, ICAN, PCCN and PRRM. I really see no future for these 5 I listed. There is only one company I have money in that is priced between $0.0001 and $0.0002 and that would be CWFG - Commonwealth American Financial Group, Inc. Great news about the company and upcoming contracts will be announced on the 12th of December for CWFG. New CEO of CWFG to me is doing a great job so far. It's only been a couple of weeks since the CEO transition.
Posted by bond006 on :
Well I don't post here much but I have learned a lot like any co that puts a gag on a t/a, tells you otcbb is right around the cornner, and then tells you they are going to do a share buy back Watch out and don't stay in
Posted by ziggy on :
Anyone ever notice that good old edd is the Founder, and President of Turner Hughes Corporation, a Private Investment Banking Firm & Commercial Real Estate Finance Company. Anyone ever think of them playing NAKED. After all the overly high vol. a month or so ago. No buy back going on or anything else that was said would be done. its a prime stock to short if its kept at .0002 - .0001
just a odd thought of mine. nothing more
Posted by mikensay on :
Yeah, I think most everyone knows that he is President of Turner. Some of the other staff also works for both companies.
I just hope that his connection to Turner is just good business and gives him better than average financing.
Posted by mikensay on :
Bork,
One of two possibilities;
1) Disgruntled ex employee trying to do in the company
2) Oh hell!!!
Posted by ACKCANE on :
Fan-bloody-tastic!!!!
Posted by rickpic on :
go here and type in the web address above then enter the code as directed and up will come the address, telephone number, and the name of the guy who registered the web page. John Velente of NY is WHOIS the one to call and ask!
mikensay I hope it is the first possibility...what do you think?
Posted by ACKCANE on :
On the website he claims to be a former manager. On RB he claimed to be the former Maitre' D. I think there is a big difference between the two.
Posted by NomarKash on :
Why did the original post get deleted regarding the bash on IBAC?
Anyway - I responded to it and for those who didn't see it: I have eaten at Sanibel Steakhouse a half a dozen times. Most recently this past November. I have never had a bad meal before IBAC owning the restaurant or while they have owned the restaurant. I think that John Velente is just a bitter man.
Posted by scoopman on :
What did I miss? Can someone please update what this is all about?
Tom
Posted by farmgirl on :
The site is updated and all other things are in the works.
Have a very happy holiday season!
Regards, Edward Hayter
What do you know. Weeks later I get a response.
Posted by noah129 on :
i think ican i think ican BE PATIENT HEHEHE.
Posted by Borknagar on :
Anyone knows when will be the audit? and if the audit is positive...what do you think?...how much can it ascend? Posted by mv on :
Merry Christmas to all of you.
Posted by noah129 on :
i think if we get any real positive numbers this stock has the potential to head back to .001 or higher. but ed has really lost alot of the investment community's trust with his shady behavior.
so i wait paitiently hoping this will correct one day constantly repeating to myself i think ican i think ican hehehe.
Posted by mikensay on :
I sure hope the buy back update is mentioned soon. Otherwise, this thing will sink so much I'll owe Ed money.
Posted by HossTrader on :
This thread jumped back up and scared me!
I think Doc Frankenstein is the only one that could pump some life back into this one.
Posted by Bigrod40 on :
Heres some pumping for HOSS
"HOLLY SH*T look at that VOLUME!!! 21 MILLION"
Yahoo
Posted by mikensay on :
Hopefully in 2006 it will perform an abra cadabra act and reappear as a company worth looking at.
Hoss, I like your tag line; it comforts my portfolio.
Posted by HossTrader on :
quote:Originally posted by Bigrod40: Heres some pumping for HOSS
"HOLLY SH*T look at that VOLUME!!! 21 MILLION"
Yahoo
LOL Thank you! I feel better now
Posted by HossTrader on :
quote:Originally posted by mikensay: Hopefully in 2006 it will perform an abra cadabra act and reappear as a company worth looking at.
Hoss, I like your tag line; it comforts my portfolio.
Hey, I am here to help! Posted by scoopman on :
Wow, another PR, am I too gullible or does anyone else think that Ed is being honest about the end of this quarter? All I can say is I am not selling at this point, I just need the stock to get to .0003 and I will make money.
Tom
Press Release Source: IBAC Corporation
IBAC Corporation Reports December Revenues and Status of Audited Financials Tuesday January 3, 9:03 am ET
NEW YORK--(BUSINESS WIRE)--Jan. 3, 2006--IBAC Corporation (ICAN.PK) today announced revenues for the month of December for The Sanibel Restaurant Group, Memphis Ramada Hotel and The Royal Arkansas Hotel & Suites of $352,523.50 combined, total revenue for the year of $3,974,964.00. These revenue figures are compiled from internal company accounting/bookkeeping and are subject to audit by the company's independent accountants/auditors.
For the month, The Sanibel Restaurant Group revenues were on par with the same period last year (per previous ownership records). The Royal Arkansas Hotel & Suites had a significant gain over last year for the same period over last year due to increased banquet sales and room sales and we expect a continued increase in revenues for the upcoming New Year. The newly acquired Memphis Airport Ramada (soon to be converted to a Days Inn) had an increase of revenues over the same period last year and we expect to see an increase in revenues continuing throughout this year.
The revenues represent the first complete year of operations for only the The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites, The Memphis Airport Ramada did not have a full year of revenues as it was acquired in June of 2005. The annual revenues company wide was below previous projections as the company opted not to purchase two other Sanibel Steakhouses that were under contract as the company took a shift in strategy to only acquire revenue producing assets that include ownership of the real estate/land. The company does expect to show a profit on reported revenues and will be substantiated with the completion of audits.
The company projects that with only the existing assets and the completed conversion of the Memphis property to a Days Inn and with the addition of a Country Kitchen Restaurant at its Memphis Property revenues for 2006 will be in the 7.5 to 8.5 Million dollar range. The company will continue to maximize revenues from all of its holdings while concentrating on acquiring additional depressed properties to increase revenues either via joint ventures (the company always maintains majority control) or sole ownership.
The company expects the audits to be completed on or before the end of the first quarter as now we are in a position to show a worthwhile balance sheet with a profit and significant equity as asset values have increased do to increased revenues. The importance of presenting the company in the best possible financial position can not be under estimated as we ready the company to move to the otcbb.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses as the majority owner with over 100 employees in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 4 restaurants/lounge 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide/Memphis Airport Ramada; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Posted by noah129 on :
well i like the news but at this point i take everything i hear from a sleezy pink sheet ceo with less than a grain of salt.
at this time last year i was just getting into pink sheets and i thought immmmm gooonnnnna beee riiccchhhh with these. they all seemed to put out pr's stating buybacks otcbb listing coming ect............. so when i am still hearing this a year later or more than a year for many who have been following longer i dont really get too excited.
although i still remain some hope that this stock will recover as i think ican be pateint enough to wait and see.
Posted by mikensay on :
Who knows if Ed is being honest but more important to me is that by looking at their projected numbers it looks like the s/p should conservatively be at .0006.
But we need to see additional acquisitions for the price to increase to the penny level.
Posted by noah129 on :
hey i like your thinking mikensay. i would be stoked at this point just to get back to the .001 range. good luck to all. hey maybe if we all start chanting in the mornings i think ican i think ican this will start moving again hahaha. sorry for the sillyness pink sheet stocks have made me totally wacky and disturbed.
Posted by noah129 on :
mike if you dont mind me asking how did you come up with that number for the share price im not doubting your calculations just curious.
if i remember correctly this has 12 billion a/s right and we really dont know what it is worth. but * .0006 times 12 bil= 7.2 million is that right my calculator is an old one hehe.
Posted by mikensay on :
Yeah, there are 12.2B A/S but really my calculations don't mean much. We don't know what the leverage or profit of the company is. They could be 100% financed or just 20% so that has a lot to do with it.
Also, we don't know what the multiple would be. If it should be 3x, 15x or 25x. Personally, I'd like it to be 15x and s/p sitting somewhere between .05 and .12.
Don't know if you were around but early last year they claimed that someone offered them between .03 and .05 per share and they thought that was low.
Get me to the .12/share and I'll be sittin pretty.
Posted by noah129 on :
hey i would be more than happy with five cents but anything higher would just be gravy.
so if you dont mind me asking how many shares do some of you folks have on this thing. i was able to buy a few at .0001 a while back so im sitting on 21.5 million. i heard of a guy who had over 90 million a while back not sure if he is still holding them though.
if anyone cares to share i would love to know how many shares you all are sitting on or if i am the lone bagholder hehe.
thanx and good luck to all icaners.
Posted by noah129 on :
well it looks like the put out another pr stating the revs for the year where under stated by about 370,000 not bad lets just hope for a continued growth and more aquisitions in the coming months along with an awsome audit.
I've got 13M. shares and have been thinking of adding shares but haven't yet. It'd be nice to see this thing have some movement though.
Posted by ACHULL on :
these hotels are very run down and in need of much repair..You can ck. out the ratings by going to web site of each hotel...It's not a pretty site.
Posted by NomarKash on :
I have a little over 11M shares. If this thing starts seeing steady volume (like last year), I'll continue to accumulate.
Posted by NomarKash on :
quote:Originally posted by ACHULL: these hotels are very run down and in need of much repair..You can ck. out the ratings by going to web site of each hotel...It's not a pretty site.
Allen, you live in Memphis right? Can you do some detective work for us and stop by the hotel to see what it looks like? Also to see how the Country Kitchen's progress is coming along? Thanks.
Posted by scoopman on :
Holding 7 million shares. At this price, I would like to buy more, but I don't have big enough n*ts to do it.
Tom
Posted by cabbage22 on :
Somebody's not being honest- NEW YORK--(BUSINESS WIRE)--Jan. 3, 2006--IBAC Corporation (ICAN.PK) today after the bell announced an upward correction to the total 2005 company wide revenues to $4,344,576.00 opposed to $3,974,964.00 that was previously stated the difference/addition of $369,612.00 is attributable to food service related revenues.
jan 245,872.27 feb 415,971.98 mar 550,023.25 apr 288,862.98 may 326,418.27 jun 285,525.79 jul 380,316.64 aug 373,548.59 sept 640,737.89 oct 487,585.32 nov 351,532.88 dec 352,523.50 4,698,919.36
Posted by B on :
Is volume today sells or buys ?
Posted by mv on :
Do you guys have a chrystal ball I can borrow?This stock seems dirt cheap now.Can it ever go to 0.001?
Posted by mikensay on :
It is dirt cheap. I think it can get to .001 but it will take time. They've stated in the last PR the intent of having audits complete by end of this quarter. If this happens it should be good for us.
Unaudited revenues are far behind what I was hoping for, but more importantly we still need to see the debt service to determine whether the s/p will rise or not.
Just my opinion, do your research, there's plenty to learn about this company.
Posted by TalonSin on :
You have to watch this guy and his half-truths. All he says is "The company expects the audits to be completed on or before the end of the first quarter" He never says they are offical audits to join the OTCBB. For all we know they can be audits made by his girlfriend. He gives revenue all the time but no expenses. Sure he can make 4 million a year in revenue but it means nothing if he has 5 million in expenses.
Dont even think about buying this until it starts to move.
Posted by mikensay on :
Good points Talon. I'm really nervous about the debt load on this company.
I also think he's dangerous. I like the model, what we know of it, but many real estate ventures go bust. I know most people think of this as restraunt business but I see it more as a real estate venture.
I also didn't like the line in the last PR regarding joint ventures. IF they are already looking at joint ventures, I see them being capitalized with hard money and the interest rate can't be great.
Posted by guswest on :
I've got 3.6 mil shares, and have teeny tiny gonads on spending any more money...lots of prayers just to get out of this thing whole.
Posted by NomarKash on :
IBAC Corporation President & CEO Completes Share Purchase Tuesday January 10, 8:56 am ET
NEW YORK--(BUSINESS WIRE)--Jan. 10, 2006--IBAC Corporation (ICAN.PK) today announced that Edward W Hayter President & CEO has completed the previously announced purchase of IBAC shares for his personal portfolio and will continue to purchase additional shares. ADVERTISEMENT
Mr. Hayter said, "I have strong confidence in IBAC and believe, given our prospects and current assets & revenues our stock is undervalued and I intend to accumulate additional shares, in addition to the previous purchases on the open market."
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses as the majority owner with over 100 employees in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 4 restaurants/lounge 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide/Memphis Airport Ramada; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
-------------------------------------------------------------------------------- Source: IBAC Corporation
Posted by MrsRuth on :
Ok like I said in the other thread.... Completed the buy back, at what price? I am assuming it was the sells going through for less then the .0001 over the past few months????? Sorry everyone just getting tired of seeing that same old .0001 or below.
Posted by Fre on :
quote:Originally posted by mikensay: Good points Talon. I'm really nervous about the debt load on this company.
I also think he's dangerous. I like the model, what we know of it, but many real estate ventures go bust. I know most people think of this as restraunt business but I see it more as a real estate venture.
I also didn't like the line in the last PR regarding joint ventures. IF they are already looking at joint ventures, I see them being capitalized with hard money and the interest rate can't be great.
I also have my doubts, but in his last PR he said they had a profit. How can they go bust when there having profits?
Posted by scoopman on :
Glad to see some interest building in this stock, we haven't seen any volume in what seems to be months now, aw yeah it has been months. Hopefully, we can get this thing up a few ticks. Hoping certainly not predicting.
Tom
Posted by noah129 on :
well it looks like buyers have stepped back in volume is certainly up today and i would like to see it continue.
and uptick is possible folks i think ican i think ican.
21.5 million long and strong.
Posted by TalonSin on :
I thought they were supposed to buy back shares and retire them NOT buy some shares for the CEO's personal portfolio. What good does it do for him to buy some shares at .0001? You know as soon as the price goes up to .0002 he will be selling them off at a 100% profit and bring us right back to .0001
Posted by HossTrader on :
Hasn't anyone noticed that there are actually mm's on the BID for the first time in lord knows how long!
Posted by noah129 on :
this could be the beggining of a small run folks it has been at no bid for a while im glad my sell order never went in the other week.
i put in a few mil for sale at .0001 and now it looks like if a group picks this one we could actually see some upticking in the near future. i dont know how high this can go but i would like to see our next pr stating a share reduction of some sort. man if this ever gets to a penny ill be one happy happy dude. good luck to you all.
i will certainly not be holding all my shares if this runs though the name of the game in penny land is dump and run buyback later.
21.5 million long.
Posted by mikensay on :
This is an odd PR. Ed completed buying shares for himself? You're right Talon they were supposed to be repurchasing and retiring shares. I think I posted several weeks ago the company reply to me on that and it was confirmed that that was the plan.
Not that the website is updated very frequently but I see that the O/S and A/S are still the same.
Also, is Ed not going to disclose how many shares he purchased? I mean he could be satisfied with purchasing 100 shares.
Posted by mikensay on :
Don't get me wrong, I'm happy to see this news but I've become cautious with this stock as the PR's often leave gapping holes in them.
Posted by casviper on :
426 million shares traded and no movement in price. This is what should be scaring all of us.
Posted by mikensay on :
Hmm. I show 397M and it bumped up to .0002 for about 10 minutes.
Posted by NomarKash on :
Wow its still .0002, what gives? This stock never goes over .0001....hahahahahaha
Posted by noah129 on :
well i think the mm's are painting the tape the trade at .0002 was for about ten bucks so read into it what you would like to.
i am happy though that this seems to have awakened at this point it seems like a pretty good gamble that in the coming days,weeks,months.... we might be able to sell for .0002 if we want to.
good luck to all that are still holding this baggy. as for me i think ican i think ican.
wouldnt it be nice to just once have one of your big pennystock positions open up at a penny on the bid? yahooooooooo!!!!!!!!!!!
come on ed massive buybacks and share retirement i have faith in you i know youcan i think ican you can whatever just DO IT!!!
Posted by HossTrader on :
Well since then Noah, 9 million shares have gone at 0002! Cool beans.
Posted by noah129 on :
hey thats cool by me keep em buys coming in.
hey hoss how many shares you bagholding on this.
i got me a bit too many hehe 21.5 mil
Posted by noah129 on :
so just curious is anyone trying to get out of this at .0002?
Posted by NomarKash on :
quote:Originally posted by noah129: so just curious is anyone trying to get out of this at .0002?
i'm holding out for .0003, held for this long, either i make some cash or i lose it all!
Posted by HossTrader on :
I only have 4.25 million, but that was because I wanted to find a home for the last $425 in my account. So I am already green LOL
Posted by noah129 on :
good job hosstrader. i dont really make any green unless we get a bid of .0003 which it looks like could happen if this giant awakens.
21.5 million on lockdown.
Posted by MrsRuth on :
Lol well wonders never seem to stop.... I was grumpy to look at my ICAN this morning still lingering at .0001, posted an unhappy remark, took a nap n woke up to .0002. Think if i complain about the .0002 it will go up to .0003..... ?hahahah Still no news about buy backs being put to rest, Just that he completed his portfolio..... Now I cant remember was there a promise of buy backs to be put to rest? Or was that a rumor?
Posted by mv on :
Mrs Ruth,keep complaining,pleeeease.
Posted by casviper on :
Do I see .0003 in the future. Maybe I should settle for .0002. I'm still at a loss here.
Posted by MrsRuth on :
LOL MV ok but I have to do it unexpectedly..... hahahah anyways good luck everyone hope this is a run but who knows when you cant see the level 2's Posted by dalton05 on :
News for 'ICAN' - (IBAC Corporation Expanding to the Texas Market)
NEW YORK, Jan 11, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets: ICAN) today announced expansion into the Texas market. The company is in discussions on its first potential acquisition of which is a hotel property with over 200 rooms in the Dallas/Ft. Worth Metroplex area.
The company is also looking into certain other acquisitions in the Florida market specifically the Ft. Myers, Naples area to enhance its operations in the area that the company currently operates a high end steakhouse. The preferred acquisitions will be hotels with restaurants combined.
Garry Becker President & CEO of the southern hospitality division said, "We are aggressively seeking to expand upon our current room inventory within a certain geographical area, we feel that the Texas market would be a natural fit to our operations due to the proximity of the company's other holdings in Arkansas and Memphis."
About IBAC Corporation:
IBAC Corporation is a New York-based restaurant & hotel holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses as the majority owner with over 100 employees in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 4 restaurants/lounge 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide/Memphis Airport Ramada; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com. Posted by NomarKash on :
Keep growing ICAN but show us a profit!
Posted by MrsRuth on :
OK I put mine up for sale at .0002 this morning lets see if I am right or wrong about the idea sell at .0002 n get back in at .0001
Posted by noah129 on :
let us know if you get a fill mrsruth thanx in advance.
Posted by DWE on :
I've bashed IBAC Corp for a long time now. It's nice to see their stock is finally moving a little up and down between $0.0001 and $0.0002
Posted by MrsRuth on :
I will Noah If you see a sale go through for 3184000 * .0002 that was me... wondering if I should adjust to the 3 mil? Does it matter?
Posted by noah129 on :
not sure if it matters but good luck to you.
Posted by iwearpro on :
I was in this for a long time back when it bounced off of .0001-.0002 10 times a day and everytime I tried to sell at .0002 and it never let me. The only way to get out is to sell it at the .0001 as far as I know. Good luck,its like a bad cult,once your in and it will cost you to get out!
Posted by NomarKash on :
quote:Originally posted by iwearpro: I was in this for a long time back when it bounced off of .0001-.0002 10 times a day and everytime I tried to sell at .0002 and it never let me. The only way to get out is to sell it at the .0001 as far as I know. Good luck,its like a bad cult,once your in and it will cost you to get out!
Back in early 2005 I flipped this stock a half a dozen times. Some between .0002 and .0007. If we can just have the opportunity again. Oh the dreams!
Posted by unreal33 on :
I was as much a believer in ICAN as the rest of you. I'm down like 600 bucks on this damn stock, good thing I bought pre-katrina PBLS * .0042 and sold * .13 - Win some lose some, GLTA!
Posted by MrsRuth on :
Well no sale today maybe tomorrow..... can only hope
Posted by MrsRuth on :
Well put up only 3mil this morning and lookkkk no sale.....baaaahumbugggggg Posted by MrsRuth on :
End of the day still no sale at .0002..... hummm...... this stinks..... Posted by DWE on :
Don't worry Mrs. Ruth..... I got 6 million shares of ICAN selling for $0.0002 as well. Next week's a brand new week if it doesn't sell by tomorrow.
Posted by Bigrod40 on :
Question for the board?? Will we get a PR today announcing Buyback complete?? It has been six months as of today.
IBAC Corporation Retires 625M Common Shares & Approves Additional Share Buyback Business Wire - July 13, 2005 16:09
NEW YORK, Jul 13, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK) today announced that 625,676,008 Million Common Shares have been retired effective at the opening of business tomorrow. IBAC also announced that the company has approved an additional buyback of up to $500,000.00 of its common stock on the open market over the next six months. The company has budgeted the $500,000.00 over the next six months out of operating revenues and does not expect it will cause any adverse effect on operations. The projected revenues for July at The Company's Royal Arkansas Hotel are expected to be at a five year high along with better than expected revenues of the recently acquired Memphis Airport Ramada along with other company operations, the company feels that the budget is achievable.
"The company will continue to implement its aggressive growth plan while enduring start up and rapid growth pains, in just nine short months the company has gone from a dormant non operating company to over 100 employees in three states, we will continue to grow our assets & revenues and achieve all of our stated goals." Said Edward W Hayter President & CEO of IBAC Corporation
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses and employs over 100 people in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 7 restaurants/lounge (2 pending closing already contracted) 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com Posted by dalton05 on :
Looks like 24 million pre market activity.
Posted by TalonSin on :
Anyone have a clue as to what is making the price move?
Posted by TalonSin on :
NEW YORK, Jul 14, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK) today announced that in addition to yesterdays announced 625,676,008 Million of Common Shares being retired effective today at the opening of business, and the approved additional buyback of up to $500,000.00 of its common stock on the open market over the next six months, it will now also reduce the authorized shares by 1 Billion immediately. (Pending filings with Delaware by counsel.)
The company intends to purchase as many shares as possible on the open market over the next six months with its budget of $500,000.00 and will simultaneously reduce its authorized shares equal to the purchased shares in equal amount blocks . This process is being taken to bring the share value inline with the company's true worth.
How is Ed buying shares for his personal portfolio going to reduce authorized shares? I know this is a pink but are these guys allowed to just do what ever they want regardless of what they tell the shareholders?
Posted by Bigrod40 on :
that link looks like their are alot of po'd investors who are looking to take a more proactive approach on ibac corp.
something is up lately i am wondering if a group is frontloading in hopes of a run to .0003 or higher.
i like to see the volume back into ican again but i would really like to see an audit a move to reporting status and a full buyback and retirement of shares. oh yeah and a pps of over a penny hahahaha.
good luck to all icanners.
i think i can i think ican 21.5 million long and strong.
Posted by Bankrole on :
Posted by ACKCANE on :
That link looks like a lawsuit waiting to happen!
Posted by TalonSin on :
The first story sems to be about the author of the website.
Posted by noah129 on :
hmmmmmmmmm............anyone been able to add more shares at .0001 or are we the buyers now bidding it at .0002?
Posted by MrsRuth on :
Still not able to sell at .0002....
Posted by noah129 on :
patience mrs ruth this thing is gonna run i have a good feeling about this. im holding out for .003 or higher for most of my shares.
21.5 million says i think ican i think ican.
Posted by noah129 on :
plus mrsruth the market was closed today so you may just get that sell in early tommorrow morn. i hope you invest that money wisely and get 100,000% return on it.
best of luck sincerely your qbidiot.
Posted by Fre on :
I placed a sell order at 0.0002 of 2.5M shares.
I was able to sell some...
Exactly 1400 shares for a total amount of $0.28.
This ain't right.
Posted by noah129 on :
damn fre sorry to hear that im guessing it wasnt an all or none huh...... i hope they didnt charge you a full commission or that the order will be filled for the rest come today for you.
good luck to you all.
i havent put any of my shares for sale yet.
21.5 million long and strong.
Posted by noah129 on :
not much volume today maybe a midday pr that would be nice.
Posted by noah129 on :
has anyone been filled at .0002 yet asside from the small order that someone posted earlier?
Posted by noah129 on :
i guess we are all just doing the waiting game huh...........?
Posted by mikensay on :
We're off the floor.
Now if the company would announce the completion of the buy back and show the A/S and O/S rather than Ed announcing that he has completed his buying.
They budgeted 500K which is 5B shares at the .0001 share price.
I'd also be curious to see what Ed now owns with these two pieces of the puzzle I can't believe the price shouldn't be much closer to .01/share.
Posted by noah129 on :
mikensay do you really think this can actually jump up to pennyland?
i would be happy at .0005 at this point.
Posted by mikensay on :
Yes I do. I also belive in flying pigs and the easter bunny.
Actually, I do think this can get to penny land, but I think it will take the company fulfilling its promises of becoming fully reporting by end of first qtr, share buyback of as many shares it can buy with the previously announced budgeted amount of $500,000, currently 5 Billion shares.
Of course I'd like to see this thing trading at .03 since Ed said early last year someone approached him with an offer to buy at .03 and he thought that was too low. Well give me .05 a share and I'll be pretty damned happy.
Posted by noah129 on :
kool thanx for your input. my experience with these pinky ceo's is they are so full of shiz that i doubt anyone ever offered him three cents a share and if so it was probably when our a/s was around 1 billion which would be a bit more possible to understand.
anyways i would be more than thrilled if i one day woke up to see a penny a share that would put me up over the 200k mark yahoooooo!!!!!!!!1
how about it ed give us a buyback and sell this company for a couple of pennies a share.
now repeat after me eddy i think ican i think ican be an honest pink sheet ceo . it is possible for you to be a man of your word and not just another scam artist selling shares to fund your playing around.
21,500,000 says i think ican i think ican.
Posted by MrsRuth on :
I was just updating for you Noah with my no sales. Sorry if I sounded impatient... Just normaly when I add my comments I have about 8 to 12 kids running around Anyways I still dont have any sales at .0002 maybe I'm sitting somewhere on the bottom of the fish bowl with the sales. I only put up 50,000 of my shares feeling you maybe right about a much needed run so getting out my pompoms n cheering next to ya ICORP ICAN ICORP ICAN RAH RAH RAH LOL Good night and blessed dreams to all, crabby olde Mrs Ruth n her day care is turning in for the night. Love n light to you n yours
Posted by ShortTermMemory on :
I was looking into that website www.icannews.com I assumed it was made by an angry investor but after doing a google on Karl Wenzel the creator of the site it appears he worked for ICAN...
Karl Wenzel, President, The Sanibel Restaurant Group, Inc.
Prior to joining The Sanibel Restaurant Group, Mr. Wenzel served as President of Caleric Corporation a private holding company with interests in the hospitality industry.
Mr. Wenzel has over thirty years of industry experience, with service to the Marriott Corp & Royal-Caribbean Cruise Lines. While receiving his Master Chefs designation in 1971 from the famous Steigenberger Hotel & Management School. Mr. Wenzel was designated by the Chaine des Rotisseurs in Paris and is also a member of the Maitre de Cusine of France, The Etol of Escoffier and World Master Association in Singapore.
He has also hosted television shows on PBS & The Family Channel and has authored three books published in five different languages.
It is very scary when a high level insider starts saying things like this. I'm sure he was angry about being let go but you dont really see stuff like this from people at the top level of organizations.
Posted by noah129 on :
so what do we think is gonna happen should we jump ship and try to get .0002 or hold on for a monster ride up?
any and all opinions welcome.
Posted by ShortTermMemory on :
Has the bid ever gone to 0 on this one, recently?
Posted by noah129 on :
just a few weeks ago i think someone with level two's posted it had been stuck at .0001 by zero.
on a brighter note though the volume has been steady lately and im looking forward to a run to .0004-.0006. i think that would be a reasonable run for ican to have. lots of traders will jump on board when this starts to break out of the dreaded .0001 by .0002. it is very hard from my experience to by at 1 and sell at 2 when we are stuck at these levels. much easier to by at the bid and sell at the ask once the stock is a bit higher in pps.
21.5 million long and strong.
Posted by ShortTermMemory on :
9X4 .0001/.0002
Posted by ShortTermMemory on :
Buys coming in strong
Posted by Fre on :
I was able to sell 1.250.000 and 50.000 shares.
1.200.000 left.
Posted by noah129 on :
fre if you dont mind me asking did you sell them at .0002 or .0001? im guessing at two ?
thanx in advance.
Posted by NomarKash on :
i really like seeing all this volume again. i bought all of my shares so cheap that i dont have much to lose unless the company goes out of business. i plan to hold till at least .0004
Posted by New_Ventures on :
Well looks like Hayter doing good here and Astrom doing good over on VISION MEDIA Works ---- looks like could be a good sign for us CWFG'rs if Ryals and Guthrie (new emergency services) follow suit
Posted by Fre on :
quote:Originally posted by noah129: fre if you dont mind me asking did you sell them at .0002 or .0001? im guessing at two ?
thanx in advance.
Sold at 0.0002. 598.000 left.
Good luck to you all
Posted by amanick on :
If they are doing the buys and retireing shares going long could be very rewarding
Posted by noah129 on :
amanick i sure hope you are right and aggree that this could be a huge score if that indeed is what is going on. the chance to buyback shares has certainly been their but the lack of volume over the last few months has me a bit weary as to how many shares ed could have boughten back.
ican only hope to one day see that pr stating buyback complete, shares to be retired immediately and the new a/s is 1 billion.
21.5 million says i think ican i think ican.
Posted by HossTrader on :
How freaky is this? Only one mm left on the ask at 0002.
Could this behemoth actually move again eventually? 0003 would make me happy! LOL
Posted by scoopman on :
quote:Originally posted by HossTrader: How freaky is this? Only one mm left on the ask at 0002.
Could this behemoth actually move again eventually? 0003 would make me happy! LOL
Can you post some L2's please.
Tom
Posted by mv on :
That link looks like some guys who lost due to their greed and poor judgement want to get their money back.They will never have a case because Ed'pr's are protected under the safe harbor clause.Their chief complain is that Ed dumped billions of shares last year,but it is more likely Ed did not do it.He sold the shares in private placements and those investors dumped the shares on Ed and us last year.Ed is a victim of the dumping.He is a bigger bagholder than we are.Hahaha.
Posted by mv on :
Selling?Not me and not at this time.Ican's revenue was 4 mil last year.There will be an audit showing some profit in March,2006.The revenue for 2006 is projected to be 8 mil.The company plans to expand to Texas.Current assets amount to a few millions.At 0.0001,Ican is worth only 1.2 mil dollars.What a value!At the current price,we are selling away our multimillion dollar hotels at the price of single houses and somebody out there is very happy to buy them.
Posted by ACKCANE on :
"There will be an audit showing some profit in March,2006."
You have proof to back up that claim?
Posted by DWE on :
Can IBAC possibly climb as high as $0.0004 to $0.0005 after the March audit? Thoughts?
Posted by HossTrader on :
Sorry about the hold up, been out of the office
l2's
0001x0002 9x2
tdcm and ubss on the ask now
Posted by mv on :
Ackane,it is not my claim.It is in the latest pr.We should be careful though because of the safe harbor thing.
Posted by mikensay on :
I sent this to I/R on on Tuesday. No response. But based on previous replies, we should have seen a reduction of shares already.....
The below PR specifies the company buying back rather than your recently PR'd, CEO buying back an unidentified amount of shares.
The time line for the below PR was this past Friday. Has this taken place and if so, given the current share price, it should be a reduction of 5 billion shares as you indicated in our previous e-mail below.
Please clarify what has transpired.
thanks,
NEW YORK, Jul 13, 2005 (BUSINESS WIRE) -- IBAC Corporation (ICAN.PK) today announced that 625,676,008 Million Common Shares have been retired effective at the opening of business tomorrow. IBAC also announced that the company has approved an additional buyback of up to $500,000.00 of its common stock on the open market over the next six months. The company has budgeted the $500,000.00 over the next six months out of operating revenues and does not expect it will cause any adverse effect on operations. The projected revenues for July at The Company's Royal Arkansas Hotel are expected to be at a five year high along with better than expected revenues of the recently acquired Memphis Airport Ramada along with other company operations, the company feels that the budget is achievable.
"The company will continue to implement its aggressive growth plan while enduring start up and rapid growth pains, in just nine short months the company has gone from a dormant non operating company to over 100 employees in three states, we will continue to grow our assets & revenues and achieve all of our stated goals." Said Edward W Hayter President & CEO of IBAC Corporation
-------------- Original message -------------- From: "B.Denenberg" <B.Denenberg*ibaccorp.com>
Dear Sir/Madam
Please find the response below to your questions, I hope this helps and feel free to contact whenever.
From: xxxxxx Sent: Monday, October 24, 2005 12:47 PM To: info*ibaccorp.com Subject: Re: clarification
-------------- Original message --------------
I am looking for clarification on past press releases. Please answer the following questions.
You PR'd that the company will buy back $500,000 worth of stock within a 6 month period. Is this on going, completed, or being put off until the merger into the reporting company?
The process is ongoing and will be announced when completed.
Of the stock that is being bought back, are they being retired or just bought back?
Any shares that the company buys back will be retired to the treasury.
You PR'd that another acquistion will be completed in August, what happened with this?
The company for certain business reasons including what we believed to be the value of the acquisition decided not to complete that acquisition, we are constantly looking for other acquisitions.
Your clarification is appreciated.
Thank you,
Posted by noah129 on :
nice letter i look forward to their response to you. i hope you post it.
so only two mm's left on the ask that is certainly exciting. i just upped my sell orders quite a bit i think this thing is ready to pop. i certainly hope so as i could use the cash else where. i know this sounds crazy but if im able to sell some im going for more qbidiot shares hahahaha. good luck to you all.
21.5 million says i think ican.
Posted by mikensay on :
Yeah, I'll post any response I get. It will probably take a couple of weeks and much hounding to hear anything, but I've got time and they have committed (again) to getting numbers by the end of the quarter.
I't sure would be nice to see that buy back and a reduction of 5B shares..... I've got much more invested here than at qbid and hope for big things out of this company.
Posted by amanick on :
The way I see it I am going to continue to hold. The market in sub pennys are very risky no doubt. be it ican or any other stock. The rewards of subs are great if you believe and support the company you are investing in. Patience always pays. If you look at other hotels and restaraunt stocks you will see that this is a good bet in the long term. those that are here to make a quick buck and complain that their not making anything need to sell out at break even and move on.
Years ago I invested in GRSU and made a small fortune. Today I still by GRSU. and hold because I know its a matter of time for me to get the rewards again.Grsu has never proved me wrong as of yet and I don't believe Ican will prove me wrong either.
Its funny to see people buy stock and a week later bash it cause they didnt get anything back right away.If you dont have money to loose you shouldnt be here.
I am hoping that we get another dividend as last time around. Though the stock is still low I would take free shares of it any day as I am long. Long to me means at least 5 years.
Posted by noah129 on :
so basically lets be patient i think ican haha.
21.5 million long and strong.
Posted by amanick on :
I am always patient. I invest only what I can afford to loose so i the end Ican hold. patience does pay no doubt.
Posted by ShortTermMemory on :
I think this is ICAN's week
Posted by ShortTermMemory on :
Business Editors
MEMPHIS, Tenn.--(BUSINESS WIRE)--Jan. 23, 2006-- IBAC Corporation (PINK SHEETS: ICAN) today announced that it's Memphis Airport Property (Formerly a Ramada Limited) will now be part of Cendant Corporation's Days Inn Hotel System as of Friday January 20, 2006 - 2 PM. The 128 Room limited service Hotel is now designated as a Days Hotel property, one of the few Day's Inn franchises in the United States to carry that designation. The Hotel is also now online with the Days Inn reservation system www.daysinn.com, With the property's pictures and other pertinent information to be added within the next week. "We are ecstatic with Cendant Corporations decision to designate our Memphis Airport property as a Days Hotel Franchise and look forward to the added value that it brings to this assets equity along with the added revenues/benefits that will be generated with this designation. We will continue to maximize the value of our properties by upgrading systems, renovations and other avenues of enhancement. We are continuing to aggressively pursue/complete the renovations and opening of a Country Kitchen Franchise www.countrykitchenrestaurants.com at this location and expect this to be completed in the very near future, thus adding additional equity and revenues from/to this property." Said Garry Becker President IBAC's Southern Hospitality Division. Mr. Becker further stated that this confirms the belief of IBAC Corporations principles as to the outstanding value being created by the company for its shareholders. The company projects upon the completion/addition of the country kitchen restaurant at the Memphis Airport property along with the change of franchise to the Hotel and certain renovations the property will generate $4,100,000 a year in revenue and increase the value of the property to $6,500,000 giving the company significant equity appreciation, the company purchased said property in June of 2005 for $1,925,000 at auction. The company continues to maximize its properties revenues and asset value to enhance its balance sheet/audits in preparation for its application and anticipated move to the OTCBB. The company also continues to pursue additional properties within the hospitality industry to continue growth in revenues and assets.
IBAC Corporation is a New York-based restaurant & hotel holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant industries specializing in distressed/turn around situations within the industry. IBAC now operates businesses as the majority owner with over 100 employees in Florida, Tennessee & Arkansas. Visit the company website at www.ibaccorp.com.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
KEYWORD: NORTH AMERICA TENNESSEE UNITED STATES INDUSTRY KEYWORD: TRAVEL DESTINATIONS LODGING PRODUCT/SERVICE SOURCE: IBAC Corporation
CONTACT INFORMATION: IBAC Corporation Investor Relations, 718-891-8188 Fax: 775-320-5437 Investorrelations*ibaccorp.com www.ibaccorp.com Posted by mv on :
Wow!It seems to me the company is heading on the right track.By the way,there is a rumor Raging bull is shut down for good.Do you guys have any information about that?
Posted by Bigrod40 on :
I like this part::
The company continues to maximize its properties revenues and asset value to enhance its balance sheet/audits in preparation for its application and anticipated move to the OTCBB
As of right now volume is more than QBID
[ January 23, 2006, 09:47: Message edited by: Bigrod40 ]
Posted by cagman23 on :
RB is back up and running
Posted by Bankrole on :
Cagman if you think RB is up and running fine, then why are there no new posts in three days?
Posted by Bankrole on :
The PPS may not be growing here yet, but the equity/assets value/ and the companies buisness sure is! This could get interesting!
Posted by ShortTermMemory on :
Does anyone knoe the last O/S count on ICAN
Posted by Bankrole on :
its on there web site!
Posted by noah129 on :
so with this news you would think a bit more volume hmmmmmmmmmmm..........
i think ican i think ican wait...............
Posted by mv on :
I agree Ican is getting more and more interesting.It is being traded as a piece of junk at 0.0001-0.0002 despite all the assets and revenue.Somebody' junk can be our treasures.
Posted by noah129 on :
so anyone get any info out of the company yet?
good luck to you all.
oh yeah mrs ruth any luck on your sell ?
Posted by noah129 on :
we are still way below the 200 day avg if that means anything to anyone hahaha.
Posted by mikensay on :
I haven't rec'd any communication back from the company, but I'm dilligently e-mailing.
I'm looking forward to the next two months. Even though we don't know what the debt structure is and haven't seen audited numbers, I think this stock should currently be trading around .0015.
Posted by casviper on :
why the sell-off?
Posted by Fre on :
IBAC Corporation to Acquire Gibraltar Commercial Finance Corporation Monday January 30, 9:47 am ET
NEW YORK--(BUSINESS WIRE)--Jan. 30, 2006--IBAC Corporation (PINK SHEETS: ICAN - News) today announced that it has agreed to acquire Gibraltar Commercial Finance Corporation as a wholly owned subsidiary. ADVERTISEMENT
Gibraltar Commercial Finance Corporation specializes in financing the hospitality industry, such as equipment leasing, furniture leasing, hotel finance, restaurant finance, etc. The company intends to utilize the resources of Gibraltar Commercial Finance to accelerate its growth plan while maintaining it as a profit center.
"We are extremely ecstatic with this acquisition as it creates an additional source of financing options for the company, as we continue to strive towards our stated objectives and goals. The company intends to aggressively have a room inventory of 1000 or better by the years end with restaurants at every property. The company also expects to have completed audited financial statements and filings by the end of the third quarter for its desired move to the otcbb. Management continues to explore all options for growth and maximization of resources possible," said Edward W Hayter, President IBAC Corporation.
IBAC Corporation is a New York-based restaurant & hotel holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant industries, specializing in distressed/turn around situations within the industry. IBAC now operates businesses, as the majority owner, with over 100 employees in Florida, Tennessee & Arkansas. Visit the company website at www.ibaccorp.com.
Next PR the audits will be ready in 2008.
Posted by unreal33 on :
I really don't understand this stock, they own EVERYTHING! They must be financially stable to be able keep buying properties etc. Why are we still in the cellar?! MM's? - Still holding long here
Posted by mikensay on :
I about threw a fit when I saw that they were expecting to become fully reporting by the end of the third qtr...
Thank God for corrections... back to end of first quarter.
I bet within the next 3 weeks this finance company refinances all of IBAC's loans.
Posted by Bigrod40 on :
Just who is Gibraltar Commercial Finance Corporation? How big are they? Google has nothing on them?
Posted by amanick on :
It is possible that a r/s may come to frutation on this before they go to otcbb. Id keep an eye on this in the comming days and suggest that those that can't afford to loose get out for safety. Imho I don't believe they will go into otcbb with this many shares outsiding.If I am wrong then theres still not much left to loose to repurchase. In either event I have way to many shares to sell so I will do the split if it occurs because I believe this will be a stock that will correct itself in the long term.
Posted by MrsRuth on :
Hi Noah, I still have the same 500,000 up for sale * .0002. I put it sell all or non, it hasnt been touched in 2 weeks of us selling at .0002. It would be great if we could get this off the floor. I would actualy use the money to help me get the kids into a center.... Anyone know of an angel investor that loves kids n has aboutttttt 900,000 in cash who is crazy enough to loan it to me with the idea of being paid back in 2 years when I can prove to the banks that I have a money making center? Hahahahah ughhhhhhh
Posted by mikensay on :
amanick,
I'm hopeful that they don't r/s this thing and follow through on previous PR's stating that the company is buying back and retiring approx. $500,000 in shares. That equates to 5B shares, just about half of the A/S.
Between that and the buying that Ed just recently announced that he personally bought back... which I don't get because I never saw a PR stating that Ed was buying back.
We'll we've got just under 60 days to find out what happens. Good luck to us all.
Posted by moosehead9nc on :
anyone getting filled at .0001
Posted by noah129 on :
it seems as if the volume has dried all up again gzzzzzzzz. we need a group to run this one again.
Posted by noah129 on :
hey folks im sad to say i dumped almost half my shares today the good news is that the order went through almost immediately for .0001 so the market makers are accumulating this thing.
i still think it has a good potential to run but i needed a few bucks so you know how that goes.
10 million long and strong i think ican.
Posted by mikensay on :
I rec'd a message on Friday from the company.
I asked many questions but the most pressing is that they PR'd sometime in June/July 05 that the company would buy back up to $500,000 worth of stock within the next 6 months.
They basically said they will not answer any of my questions but will PR any accomplishments.
Oh well, we've got 7 weeks to see what happens with the company. Good luck to us all.
Posted by moosehead9nc on :
well atleast they answered back
Posted by mikensay on :
Yeah, I've had probably 3 or 4 answers from them in the past 6 months, nothing compared to the e-mail's I've been sending them.
I think the company is going in the right direction but they're not as straightforward as I'd like.
Posted by noah129 on :
anyone noticing the volume surge the last few minutes?
Posted by casviper on :
Yes, Huge Sell. go figure. No surprise here. This stock has been a piece of shyt for a long time. All talk no action and any pr has only re-enforce the sell and keeping the price at .00001 meaning WORHTHLESS.
Posted by casviper on :
Nearing a half a billion shares traded. This isn't good since the price went down, not up. Could this be going to ZERO again?????
Posted by tuckermen on :
Just a bump.
I had to go to page 4 to find us.
Posted by noah129 on :
not sure what it means but i have a sell order in for my last 10 million shares and i see the last trade at .0002. my sell is for .0001 and it isnt filling. hmmmmmmmmmmm.............. good luck to you all.
Posted by mikensay on :
I'm guessing you have an AON order?
Why sell now? I may be a bit hard headed but I can't believe we are not going to pull out of this.
I know believing a pinky is hard to do but they are expecting to be fully reporting in a few weeks.
Posted by amanick on :
Im long in this. I believe we are going to score big time. I said the same thing about grsu and today I made 2k off of it. Just got to believe and hold. If you cant afford to loose what you got in this then get out there will always be time to get back in better to be safe then sorry. As with any penny you dont get in it if you dont have the patience or funds to loose
Posted by dalton05 on :
We closed at .0002 on Monday which is a good sign Hoping for a steady climb.
Posted by amanick on :
This won't climb for a while. This isn't a stock that will rise on a whim. In fact I would be happy if we seen more shares being dumped and bought back by the company which I suspect is going on quietly before we got to otcb. I am still of the opinion that this is a stock for serious investors who can afford to hold very long and wait for the rewards.My only concern with this senerio for the longs is a r/s which I still believe is a possibilty and there fore only those that can afford to loose should be in it.Those that cant and can leave now at break even should do so.
Posted by mikensay on :
Although unadited we should see their monthly PR regarding revenues any time now.
Posted by DWE on :
I rather put all my money into The Little Engine That Could Money Fund instead of putting a dime into The "ICAN'T" Corporation.
Posted by mikensay on :
quote:Originally posted by DWE: I rather put all my money into The Little Engine That Could Money Fund instead of putting a dime into The "ICAN'T" Corporation.
As much of a declining and frustrating ride its been, I still think this thing is going to pull through. But we'll see in 6 weeks. If they actually post audited financials and move to another board, 2006 will be a great year.
Posted by amanick on :
somethings nagging me on a r/s for some reason. I still think thats going to happen but im in for the long haul either way.Still trying to figure out if the r/s would be benifical or not or if they continue buy shares to reduce the o/s
Posted by mikensay on :
I don't know about the r/s theory. After looking way back into the PR's I see that the said Ed would be buying back shares and also the company would be buying back shares and retiring them.
Unfortunately I've been e-mailing them regarding the company buy back but didn't remember the PR about Ed buying shares. Last month they PR'd that Ed finished his buying. I suspect (and hope and pray) they are just slow in finishing these items.
Hopefully, they are buying back at these levels, there seems to be much more volume the past several days, so maybe that's what they are doing in preparation to move to another board...
Rose colored glasses intended.
Posted by Clyde_Crashcup on :
quote:Originally posted by DWE: I rather put all my money into The Little Engine That Could Money Fund instead of putting a dime into The "ICAN'T" Corporation.
How many brain cells did you burn up when you thought that one up?
Posted by amanick on :
I know its a long shot in theroy but I got that nagging feeling. I usualy get those at times and am 50/50 so far so I hope im wrong. If I remeber right there were alot of shares out and even the little bit that ed bought I don't think would make much of a dent. Like I said I am long in this no matter what. With the PR about them doing a buy out of the finance company I am kind of dumb founded as to why they didnt use the money to buy back shares. I understand why they want to buy the finance co. to its benifit but I owuld have thought the buy back should have been priority. I dont see this stock doing anything in the interm that would increase its share much butin the future I can see this about 1.00
Posted by unreal33 on :
quote:Originally posted by amanick: I dont see this stock doing anything in the interm that would increase its share much butin the future I can see this about 1.00
I would take anything at this point, lol
Posted by amanick on :
Hold tight and we will see.
Posted by mikensay on :
Looking back I think Ed gave a 3 year window 2 years ago to grow this company and make it profitible.
I get the deal for buying a finance company. Ed's been in the finance business for some time. I think all this does is give him better access to financing while minimizing all the fees, which can be pretty steep. I hope he'll use this to refinance current loans into better rates and not mortgage the hilt with the current properties.
I'm really curious to know how many shares Ed actually bought. It was never stated but its got to be more than a billion. I would think, I mean that's only $10K, right.
Posted by mikensay on :
quote:Originally posted by unreal33:
quote:Originally posted by amanick: I dont see this stock doing anything in the interm that would increase its share much butin the future I can see this about 1.00
I would take anything at this point, lol
Retire what you can, keep the shares the way they are and get me to .05 and I'm finished.
Posted by mikensay on :
Anyone have a guess as to what ICAN is worth right now. I know, I know, we don't know the debt load, but if it was sold right now, any guesses. 10 Million? 20 Million? 40 Million?
Posted by ACKCANE on :
Dream on and quit pumping!!!!
Simple terms, say their NOI is $100,000 for all the properties (conservative #) They would be worth a little over $1,000,000.00.
That is an assumption that they are making money.
But no one knows because we have no idea what the real numbers are.
Posted by amanick on :
No one really knows what they are worth but them. But I got to believe that something positive will have to come from this if they are to be successful in the future. I see us goin gto otcb soon and possibly a small price influx if we dont have a reverse split. I still have this aching that an r/s will happen doing so will allow them to go to otcb at a higher stock price that may generate more income with feewer shares. I haven't had time to check the other hotel stocks that went to otcb and what they did prior to comming off the pinks but all that I did find on otcb are about .08 a share. I don't see that happening here at all.
Posted by mikensay on :
quote:Originally posted by ACKCANE: Dream on and quit pumping!!!!
Simple terms, say their NOI is $100,000 for all the properties (conservative #) They would be worth a little over $1,000,000.00.
That is an assumption that they are making money.
But no one knows because we have no idea what the real numbers are.
Not tryin to pump just trying to figure out what the hell they're doing. There's not much info outside their unaudited releases. They claimed last year that someone offered them .03/share which I wish they took. I guess this could have been before they diluted the hell out of the stock.
However, unless you believe they used the equity in the property they got off auction last year for other leverage, they've got to be worth more than a million in equity alone.
Sombody mentioned some other companies that made it off pinks that are in this industry. If you've got a name for them please share I'd really like to look into their history to see how they fare compared to ICAN.
Posted by mv on :
HI.Are you guys still alive and well?
Posted by tongusc on :
i am still in
Posted by Double Diamond on :
We're all waiting for ED !
Posted by atcpaul on :
i have had a bid in at .0001 for 3 weeks now with no fill. the bid is gone but ask is at .0002. strange is all i can say
Posted by mv on :
Simply put,the rule of Ican game is like this: You place a 1 dollar bet.It can go to zero or it can go to 2,3,4,5,6,7,8,9,10,and so on.The odd is in your favor.In addition,when you need that 1 buck back to buy a candy,you can say:Sorry,I need my money back, then sell.With all the assets and revenues,Ican is not gonna go belly up anytime soon.That means it is very likely it will go up.This is even more true since the guy at the helm is desperate to see the pps go up.He will do everything in his power to make that happen.It doesn't sound like a fair game of chance.Actually,it is not a game of chance at all.Ed is under the table or in the dice making sure that you win.Poor him.Why do such a thankless job!!!
Posted by Clyde_Crashcup on :
quote:Originally posted by mv: Simply put,the rule of Ican game is like this: You place a 1 dollar bet.It can go to zero or it can go to 2,3,4,5,6,7,8,9,10,and so on.The odd is in your favor.In addition,when you need that 1 buck back to buy a candy,you can say:Sorry,I need my money back, then sell.With all the assets and revenues,Ican is not gonna go belly up anytime soon.That means it is very likely it will go up.This is even more true since the guy at the helm is desperate to see the pps go up.He will do everything in his power to make that happen.It doesn't sound like a fair game of chance.Actually,it is not a game of chance at all.Ed is under the table or in the dice making sure that you win.Poor him.Why do such a thankless job!!!
It's a pinksheet stock and it's a very risky game of chance. I own this and have watched it sit at .0001/.0002 for a long time. Don't buy if you can't afford to lose.
Posted by goodboy on :
February is Almost Over without any news from Ed. He promised a lot for the first quarter but I am still waiting for a good news
Posted by mikensay on :
quote:Originally posted by Clyde_Crashcup:
quote:Originally posted by mv: Simply put,the rule of Ican game is like this: You place a 1 dollar bet.It can go to zero or it can go to 2,3,4,5,6,7,8,9,10,and so on.The odd is in your favor.In addition,when you need that 1 buck back to buy a candy,you can say:Sorry,I need my money back, then sell.With all the assets and revenues,Ican is not gonna go belly up anytime soon.That means it is very likely it will go up.This is even more true since the guy at the helm is desperate to see the pps go up.He will do everything in his power to make that happen.It doesn't sound like a fair game of chance.Actually,it is not a game of chance at all.Ed is under the table or in the dice making sure that you win.Poor him.Why do such a thankless job!!!
It's a pinksheet stock and it's a very risky game of chance. I own this and have watched it sit at .0001/.0002 for a long time. Don't buy if you can't afford to lose.
Yeah, I own this too. I like your positive outlook and I too think it will rise in price. However, there are several outstanding questions:
When will the audit be released? When will the stock move to another board (they say March) When will the company buy back shares? (they posted using a budgeted $500K for buy back for a six month period about seven months ago but have not addressed whether this has happened or not)
I'm hopeful that March will answer all these questions. If the company shows a massive reduction in shares from both company buy back and retiring of shares and the buying by Ed (we still don't know how much he bought) and the company goes fully reporting, does not reverse split and moves to another board, then we'll be in good shape.
That's a tall order. Especially since they are saying a lot of this is to happen this quarter.
Posted by mikensay on :
Oh, they also did not provide a monthly unaudited report this month as they have for several months. I like seeing this as it shows a bit of consistency.
Any thoughts on why they did not post this month? Bad numbers? too busy preparing for move to another market? or my wishful thinking, they are still buying back as many shares as possible and want to be able to buy as much as they can before reporting. But I know this doesn't make sense since they never report using A/S O/S numbers.
Posted by DWE on :
Am I sure glad I got rid of "ICANT" once again. Never look back at the "IBUC" Corp. EVER AGAIN!!! Posted by amanick on :
Either way at this price im still loading and holding. This is long term for me no doubt. I purchase as much as I can from other winnings so if I loose it in a r/s its not that big of a deal but the upside if ED has any dignity or class he will see this through.If you have no faith or worrying about an reverse split its now time to get out of the game.
Posted by mv on :
Have faith.We will prevail!
Posted by B on :
Ican is a distressed stock made that way by its CEO Ed Hayter. There's value in this stock we need investors that can see the upside of taking over this company. Investors along the lines of Berkshire Hathaway Inc. This company needs to change hands by any means necessary.
So Warren Buffet and Charlie Munger take over this company for sub-pennies on the dollar. LOL
**Boards don't hit back**
Posted by amanick on :
another reason I see a revere split happening
Posted by dalton05 on :
I own this stock and just waiting for .0003 so i can get before a R/S happens.
Posted by mv on :
Interesting.No monthly revenue!Something big is gonna happen.A price explosion ,maybe.Audit,otcbb,Ican will be exposed to a whole new class of investors.Have you guys ever seen a multibaggers yet?We may be looking at one right now:our ugly,stinking Ican.
Posted by going for gold on :
still have my 17m,averag 0,003,so go ican,personnally i think it will take some time before it will move again
Posted by going for gold on :
that's 0,0003avg. :-)
Posted by going for gold on :
any guess,about a fair pps for ican,based on the a/s and o/s?
Posted by MrsRuth on :
Well that .0003 maybe closer then we think. I had just a 100,000 shares up for sale for almost 4 weeks it finaly sold today..... Guess Patience is the answer huh commmmeeeeeee onnnnnn .0003 or more
Posted by going for gold on :
miss ruth at what price did you sell
Posted by mv on :
A fair pps for Ican?Ican owns a few restaurants and hotels.Even if they owns just 50% of them,it can easily be more than a few millions.Based on assets alone,the pps should be around 0.0005.If the audit shows profit,it can be much higher.
Posted by Double Diamond on :
TOTAL AUTHORIZED SHARES AS OF 9/30/05 12,200,000,000 ISSUED AND OUTSTANDING SHARES AS OF 9/30/05 10,793,385,517
If Ed does what he promised and pumps $500 000 in buyback at an average price of (assumption) 0.00015, he can buy up to 3.33 billion shares. In one of the last PR's it was stated as well that he privately was buying.
So : 7.4 billion left.
Revenue projection :
PR ICAN :
"The company projects that with only the existing assets and the completed conversion of the Memphis property to a Days Inn and with the addition of a Country Kitchen Restaurant at its Memphis Property revenues for 2006 will be in the 7.5 to 8.5 Million dollar range. The company will continue to maximize revenues from all of its holdings while concentrating on acquiring additional depressed properties to increase revenues either via joint ventures (the company always maintains majority control) or sole ownership."
Lets assume 7.4 million.
Revenue per share : 0.001 !
Knowing that they're buying their buildings, this should be taken into account as well (incl their debts).
Looks promising if you compare it to some air that's being sold on the pinks.
Only disadvantage : Ed has been promising, and ... promising ... and promising .. and ...
Hope the lack of figures for Jan and Feb are a sign and that the buyback has been done (at a lower price then stated above).
I'm convinced this will generate profit for us.
Posted by mv on :
We have a new president.His name is Burmaster.
Posted by mikensay on :
March 02, 2006 09:08:01 (ET)
NEW YORK, Mar 02, 2006 (BUSINESS WIRE) -- IBAC Corporation (ICAN:PK) today announced that it has named Mr. Wayne Burmaster as its new President & COO.
Mr. Burmaster was recruited from outside the company to lend fresh ideas and direction to the company's growth, objectives and business plan going forward, and has the Board of Directors full support for his ideas and strategies to lead the company forward to the next level.
Mr. Burmaster has been operating in an Executive capacity within the company for several months evaluating the operations and visiting the companies properties, meeting with middle management and employees formulating asset enhancement and revenue maximization plans and objectives.
Mr. Edward W Hayter will remain as the company's Chairman & CEO and handle more of the company's acquisition strategies and financing matters while Mr. Burmaster will over see the day to day operations with full authority to implement procedures and policy's going forward. "This will allow the company to achieve its stated goals of becoming fully reporting and accelerate certain acquisitions and funding issues that are on the table." Said Edward W Hayter
Mr. Hayter also stated "that the company is very pleased that Mr. Burmaster agreed to come on board as I have complete confidence in his abilities, administrative skills and professionalism to streamline operations thus creating maximum equity, revenues/profits and growth for the company."
"We intend to bring this company to the next level on a fast track basis with an aggressive campaign directed towards maximum growth both revenue/profit wise while creating significant equity growth of our current assets." Said Mr. Burmaster President & COO
Mr. Burmaster also stated "I am very excited to join an organization with the tremendous potential that IBAC Corporation offers and look forward to a very prosperous and rewarding experience"
Posted by NomarKash on :
Isn't it odd that they dont mention where Wayne Burmaster worked before coming to IBAC?
Posted by mikensay on :
I was thinking the same thing. Companies routinely give some background on initial PR's.
Posted by tongusc on :
trying to get off at .0002 for a while hope this news will help
Posted by mv on :
Maybe he is fresh from high school with a lot of good ideas.We are gonna be rich.
Posted by NomarKash on :
when searching google i see that name involved in lawsuits with some investment firm. not saying its the same person, but who knows.
Posted by moosehead9nc on :
lol this is the most action this thread has seen in months
Posted by mikensay on :
quote:Originally posted by NomarKash: when searching google i see that name involved in lawsuits with some investment firm. not saying its the same person, but who knows.
Looks like he is mentioned for Affidavit for employment for Wein Securities.
But digging further it looks like Wein Securities is a MM. Is this good bad or indifferent? We'll see. And of course the s/p is now at .0001
Posted by MrsRuth on :
My sell was at .0002. Now I have 500,000 up for sale at .0002 n a buy for 100,000 * .0001 just testing the waters to see whats more difficult selling at .0002 or buying at .0001 we will see
Posted by mv on :
It can only be good.You see,how can it be bad?We are already at the bottom.The only bad thing is bankrupcy.They are hiring.They talk about expanding and becoming fully reporting.That means the company is still alive and well.If they can come up with a decent audit,the pps will soar like an eagle.
Posted by scoopman on :
Who didn't see this coming. If we move to the OTCBB this may work out as long as they don't start diluting.
TOM
IBAC Corporation's Board Approves a 1 for 80 Reverse Split and Reduction of Its Authorized Common Shares Saturday March 4, 9:34 am ET
NEW YORK--(BUSINESS WIRE)--March 4, 2006--IBAC Corporation (ICAN.PK) Friday after the bell announced that its Board of Directors has approved a 1 for 80 reverse split of its common shares, this reverse split will leave the company with only 150 Million common shares outstanding.
The company also approved a reduction of its authorized common shares from 12 Billion to 500 Million shares, with this action the Board believes it will bring the capitalization in line with the true value of the company and allow greater opportunity for growth of the share price.
The company has not filed for any new reg dex/504 filings and does not have any plans to do so; the decision was made after long discussions with our advisors. We believe the action will bring the pps in line with the value of the company and have a stronger balance sheet/audit in place when we apply to the OTCBB for listing.
The reverse split will take effect March 10, 2006 and the company will have a new trading symbol that will be announced once received from NASDAQ.
"We realize that this move will not be received very enthusiastically from our current shareholders but we believe to get this company where we have stated the OTCBB and to offer the best chance for appreciation and growth this had to be done, and we have no intention of any dilution so it is our belief that this will reflect the true value of our company," said Wayne Burmaster, President & COO.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses as the majority owner with over 100 employees in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 4 restaurants/lounge 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide/Memphis Airport Ramada; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
-------------------- You Can't Have Everything...Where Would You Put It?
Posted by mikensay on :
Yeah saw it coming, but was hopefull the company would have just done the buy back and retirement of shares that they previously announced (after they diluted of course).
I still think this company has a real shot especially if it gets to another board.
I was originally hoping for the buy back, reporting and the share price climbing to .03. Now, who knows...
Does anyone know if there any share price requirements for over the counter???
Posted by 7 of 9 on :
This PR is pure garbage.
"bring the pps in line with the value of the company"
it is the mc ( = market cap.) and not the pps, which reflects the "value" of the co.
in theory a split will NOT effect the mc at all
in this case, however, this 1:80 r/s will reduce the mc.
Burmaster's entire pr is lies.
*********************************************** IBAC Corporation (ICAN.PK) Friday after the bell announced that its Board of Directors has approved a 1 for 80 reverse split of its common shares, this reverse split will leave the company with only 150 Million common shares outstanding.
The company also approved a reduction of its authorized common shares from 12 Billion to 500 Million shares, with this action the Board believes it will bring the capitalization in line with the true value of the company and allow greater opportunity for growth of the share price.
The company has not filed for any new reg dex/504 filings and does not have any plans to do so; the decision was made after long discussions with our advisors. We believe the action will bring the pps in line with the value of the company and have a stronger balance sheet/audit in place when we apply to the OTCBB for listing.
The reverse split will take effect March 10, 2006 and the company will have a new trading symbol that will be announced once received from NASDAQ.
Posted by 7 of 9 on :
r/s has not been filed. doubtless they wait for monday.
Can you explain the difference between NASDAQ and OTCBB? From what I gather, OTCBB is where NASDAQ stocks go after being delisted for not meeting standard criteria. So, is OTCBB the springboard from pinksheets to get to NASDAQ?
I just don't get why they listed both on this PR.
Thanks for any clarification you can provide.
Posted by 7 of 9 on :
Major Stock Markets, US
NYSE Nasdaq + AMEX
Nasdaq was formed by a bunch of brokers and mms, and is totally computer driven, unlike NYSE.
OTCBB is a part of Nasdaq. A long time ago there was a "counter" somewhere in my where brokers could trade "Over Tthe Counter" stock certificates. Its all on computers these days.
OTCBB stocks must file at least quarterly financial statements. You can see all of these at pinksheets.com. They are 10Q, and 10K (yearly). OTCBB stocks do not have to file anything else.
Before and after SarbOx, if a CEO lies in the quarter statements, they can go to jail. They tend not to lie.
Pinksheets (pinkies) These pinkie cos mostly were once OTCBB stocks, but no longer. Pinkies do not file anything, and so are divorced from Nasdaq and the SEC. In 99% of cases, the reason pinkies dont file is bcs. they are shut down. It would be pointless to file, and there is always the threat of jail. The pinksheets and pinksheets.com are owned by 1 NASD member, as a business. Pinkies file and address and phone, the xfer agent, the CEO, and not much else. Pinksheets will never know the OS, for example, only the transfer agent does. You can get info about any co on pinksheets.com, not just pinkies.
In general, pinkies dont have L2 quotes so dont look for them. On Ameritrade at least, i can sometimes get real time L1 quotes on pinks, maybe. All the data on pinkisheets.com is delayed, so watch out.
There are a large number of good foreign cos like Nestle that trade on the pinkies bsc. they dont want to file in the US. Therefore, pinkies really are legit. Fake shares cannot be created.
Grey Sheets, the "Other OTC". These are cos (just a cusp no. really) that are traded but have not paid the fees to be on pinksheets. They are at the very bottom.
In general, any OTC, Pink or Gray stocks are NOT investments and are not suitable for most investors.
99.9% of OTC/Pink cos. are shells w/o operations.
I hope this helps.
7
Posted by 7 of 9 on :
OTCBB / Nasdaq
I forgot to add that stox on the OTCBB were mostly thrown off the Nasdaq due to low share price. In 99% of the cases it is bcs. the company has folded, but they almost never admit this. Keep in mind that any comapny with less that $100k cant operate, and will fold.
After the 2000 tech collapse something like 3000 tech cos. were tossed off the Nasdaq. They go instantly onto the OTCBB, and then, after they stop filing, onto the pinksheets. One of the mms will pay the fee to get it on the pinksheets, bcs. they want to trade.
Since they dont have to file or pay any more fees, a totally dead co. can stay on pinksheets, and trade, for years.
Etoys, e.g, traded on pinksheets for years after the ceo said it was dead. Etoys really was dead, and never rose.
Posted by mv on :
Interesting.This is just the beginning.
Posted by unreal33 on :
So should I dump my shares at a loss or hold on through the R/S?
Posted by cabbage22 on :
ed hayter strikes again
Posted by mikensay on :
quote:Originally posted by 7 of 9: Major Stock Markets, US
NYSE Nasdaq + AMEX
Nasdaq was formed by a bunch of brokers and mms, and is totally computer driven, unlike NYSE.
OTCBB is a part of Nasdaq. A long time ago there was a "counter" somewhere in my where brokers could trade "Over Tthe Counter" stock certificates. Its all on computers these days.
OTCBB stocks must file at least quarterly financial statements. You can see all of these at pinksheets.com. They are 10Q, and 10K (yearly). OTCBB stocks do not have to file anything else.
Before and after SarbOx, if a CEO lies in the quarter statements, they can go to jail. They tend not to lie.
Pinksheets (pinkies) These pinkie cos mostly were once OTCBB stocks, but no longer. Pinkies do not file anything, and so are divorced from Nasdaq and the SEC. In 99% of cases, the reason pinkies dont file is bcs. they are shut down. It would be pointless to file, and there is always the threat of jail. The pinksheets and pinksheets.com are owned by 1 NASD member, as a business. Pinkies file and address and phone, the xfer agent, the CEO, and not much else. Pinksheets will never know the OS, for example, only the transfer agent does. You can get info about any co on pinksheets.com, not just pinkies.
In general, pinkies dont have L2 quotes so dont look for them. On Ameritrade at least, i can sometimes get real time L1 quotes on pinks, maybe. All the data on pinkisheets.com is delayed, so watch out.
There are a large number of good foreign cos like Nestle that trade on the pinkies bsc. they dont want to file in the US. Therefore, pinkies really are legit. Fake shares cannot be created.
Grey Sheets, the "Other OTC". These are cos (just a cusp no. really) that are traded but have not paid the fees to be on pinksheets. They are at the very bottom.
In general, any OTC, Pink or Gray stocks are NOT investments and are not suitable for most investors.
99.9% of OTC/Pink cos. are shells w/o operations.
I hope this helps.
7
Very much. Thanks!
Posted by NomarKash on :
Its great how Ed has always said he will NEVER r/s this stock.
What a shock - he lies again!
Posted by ACKCANE on :
Ed Didn't lie, the new guy did the R/S.
Posted by Double Diamond on :
The 500 million is an equivalent of ... 80 billion
The 150 million shows there was no buyback.
They promised not to R/S, they promised to buyback, they promised audits, they promised OTCBB. So far : they lied.
And then they stated : no more dillution.
Ed, you're a Fxxxxxx Lying ImpXXXtent Bastoord.
(sorry, had to vent here)
Posted by NomarKash on :
quote:Originally posted by ACKCANE: Ed Didn't lie, the new guy did the R/S.
That's true. He just funneled the blame to the new guy.
Posted by amanick on :
The R/S was to be expected as I have been posting all along. The issue is whether to get out before the r/s or not. Thats a tough call to make. I am in r/s or not as I have anticiptaed going long with this and will ride this through for a few years.
Even with the r/s and moving to the new board will not be a garuntee of a windfall in the immediate future. There will however be an oportunity to make back some of the losses that have occured for some including myself with the move to otcb for the first few weeks but how much I can only guess.
As I have stated many times the stock market is like going to the casinos and pulling the slots sometimes your a winner and sometimes your not.
Posted by mv on :
RS can be good or bad,depending.It is bad when there is no audit.It is good when Ed shows a decent audit with profit and the value of the assets.If the assets are worth 2 mil,the new pps will stay at 0.02 or more.It just can't be lower because we know the book value of the company.One thing is for sure,with the rs,the pps will move,for better or worse.
Posted by Double Diamond on :
quote:Originally posted by mv: If the assets are worth 2 mil,the new pps will stay at 0.02 or more.It just can't be lower because we know the book value of the company.
Wrong statement. It can go lower.
Posted by scoopman on :
Press Release Source: IBAC Corporation
IBAC Corporation Reports January & February Revenues Monday March 6, 8:58 am ET
NEW YORK--(BUSINESS WIRE)--March 6, 2006--IBAC Corporation (ICAN.PK) today announced revenues for the months of January & February 2006 for The Sanibel Restaurant Group, Memphis Days Inn Hotel and The Royal Arkansas Hotel & Suites of $585,690.35 combined. These revenue figures are compiled from internal company accounting/bookkeeping and are subject to audit by the company's independent accountants/auditors.
For the months, The Sanibel Restaurant Group revenues were below the same time last year due to reduced traffic created by less than normal winter visitors to the restaurants local area, we anticipate a return to normal revenues this month as winter visitors seems to be normalizing. The company also has a sponsorship/advertising deal with the Boston Red Sox at their winter home field in Ft Myers & the Barbara B Mann Theater that will bring greater visibility and business to the restaurant. The Royal Arkansas Hotel & Suites had a gain over last year on increased banquet sales and room sales for the two months and we expect to see revenue to continue an increase for March. The Memphis Days Inn Hotel had an increase of revenues over the same period last year (The Company did not own the property last year this time).
"The company after the completed 1 for 80 reverse split and the reduction of the authorized common shares the company plans to hold the difference of 350 Million common shares in its treasury for additional value creation i.e. acquisitions and has no intention of selling/diluting them into the market via a regdex/504 or any type of debenture, thus the outstanding common shares will remain at 150 million. The company is working diligently on completion of its audited financial statements and building increased value of its existing assets while reviewing certain additional acquisitions, these steps are being taken in anticipation of stepping up to the OTCBB." Said Wayne Burmaster President & COO IBAC Corporation
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
-------------------------------------------------------------------------------- Source: IBAC Corporation
Posted by TalonSin on :
If I could just believe that they would keep the shares at 500 million like they are saying I would feel a lot better about this.
Posted by mikensay on :
So, I'm guessing, since the company is still not reporting, the revenues are around 100K in reduced revenues for both months. For an organization of this size I'd think thats a pretty fair hair cut.
Posted by imakmony2005 on :
awhole lota volume just sells?? jumping before the r/s.
Posted by 7 of 9 on :
i had 10m shares ican * 1, but dumped them today
god i wish you longs luck
reverse, god
Posted by TalonSin on :
Does a RS not effect the AS?
I'm confused by this line " The company also approved a reduction of its authorized common shares from 12 Billion to 500 Million shares , with this action the Board believes it will bring the capitalization in line with the true value of the company and allow greater opportunity for growth of the share price. "
Does this mean the RS would not have effected the AS but that they are reducing it themselves to 500 million after the split?
Posted by imakmony2005 on :
yes but then do they issue more shares aftar the r/s.
Posted by mikensay on :
No of course not. They said it in the PR---couldn't resist.
Hopefully they don't.
Posted by TalonSin on :
quote:Originally posted by unreal33: So should I dump my shares at a loss or hold on through the R/S?
Here is my conservative prediction. On Friday your shares will go from .0001 to .0080 By Wednesday next week they will be worth less than .005 If it did go down to .005 that would put your todays share value at .000062 Thats almost a 50% loss. You'd be better getting out now and jumping back in after the fall.
Almost 10% of the OS has been sold off today already. By Friday I would imagine close to 50% will have been sold off. Only die-hard longers will be left on Monday morning and some of them will lose nerve and start to sell bringing the new price down.
My guess is by Friday next week we could see .003 But I could be wrong and frequently am... I'm selling and waiting to see how low it goes. I am 99% sure it will go down in price after the RS, they almost always do.
Posted by Double Diamond on :
quote:Originally posted by TalonSin: Does a RS not effect the AS?
I'm confused by this line " The company also approved a reduction of its authorized common shares from 12 Billion to 500 Million shares , with this action the Board believes it will bring the capitalization in line with the true value of the company and allow greater opportunity for growth of the share price. "
Does this mean the RS would not have effected the AS but that they are reducing it themselves to 500 million after the split?
Yep. They say that they reduce it, but if you compare it to the current AS, you have to multiply the 500 million with 80.
So bsicaaly the statement is :
We cheat on you by adding 28 billion shares, but since we're doing a RS you'll not see it. 28 billion will be 350 million in the new set up.
Thx Ed ! Thx for being totally dishonest with us.
Posted by atcpaul on :
hopefully you sold this morning because they were buying at .0001. now thier is no one on the bid and ask is .0001. damn hayter is a crook and a lier plain and simple
Posted by atcpaul on :
rs does not affect the a/s. that is how some of these company's continue cash flow. james river perfect example 2 rs 1 2000 in a short period of time so they could have more shares to dilute. sorry not trying to bash but i am mad and disapointed as hell
Posted by dalton05 on :
The problem here is everyone listened to this guy Ed.Do you really think this guy is going to tell us his company S****.These sub penny stocks go by differant rules.have you ever heard a ceo tell us don't buy our company stinks.Lets just chalk it up to a bad investment and make some money elsewhere.
Posted by mv on :
Not so soon.There will be more twists and turns to the Ican story.There are opportunities in despair.What if they release an audit?or move to otcbb?In that case,a bad investment means we sell too prematurely.
Posted by Double Diamond on :
By by Ican - just sold and got an average of 0.00011. Was in at 0.00018. I'll come back after the R/S. GLTYA
Posted by mikensay on :
So with everyone selling, who is buying up these shares? I just don't understand.
The only thing I can surmise is that after the r/s the current buyers are hoping the s/p will rise and give an opportunity to sell. Plausible?
Posted by Double Diamond on :
Or it could be MM's covering
Posted by noah129 on :
well i truly wish you all luck i stayed in this for a long time i had 20 million shares i sold them all for a substantial loss unfortunately. my hope for those of you that hold this through the r/s is that the shares skyrocket. it seems to me that 95 times out of 100 this doesnt happen but on occasion like gmoc stocks can go up substantially on no news after a r/s. i sold gmoc also for a loss as to not ride the r/s after the r/s the stock went up i think 5 fold it has settled down now but it is possible that after the split the stock opens around .008 and rallies up to .03 cents. good luck to you all ill be waiting for a pullback after the r/s then ill try to enter at around .0035 or so.
i chanted i think ican i think ican for a long time but ed just didnt make me a proud shareholder that is for sure. i really hope i am wrong though and it rallies for ya.
Posted by tongusc on :
I guess i was really lucky got in at .0001 and get out at .0001. well i guess i could stay and look for some run after the R/s but like noah129 said 95 percent i think is 99 percent of time stock price goes down. so take a loss of 20 dollars commision.
GLTA
Posted by atcpaul on :
mm's need to make sure every thing is in order before the r/s if they have shorted this in any way they need to make sure they have the shares before the r/s happens. posible they are buying the shares but who knows
Posted by mv on :
More than a bil shares have been bought since monday.There is still a lot of interest in Ican.If Ed releases some good news,the pps will go up many folds.I wonder if the guys who bought have insiders' information.That is a lot of money to speculate.
Posted by MrsRuth on :
Well all Im in for the r/s only holding a tad over 3 mil lets see how bad I get beaten up..... Sigh I'm never ever getting these kids out of my house and into a center.... ugh
Posted by mv on :
Do you guys thinks Ed will let the pps drop like a rock?He is running Ican for what?Money.It got to be money.He wants to use the 350 mil shares to acquire new assets.If the pps is low,nobody wants those shares.He got to boost the pps somehow.
Posted by MrsRuth on :
I hate being stuck in a r/s I always come out under the bottom of a 10 ton cement slab
Posted by mikensay on :
So is this R/S supposed to take place before trading tomorrow or after hours tomorrow? Not that it matters much, but I'd much rather this to happen already and go through the pains now. I hate the waiting game.
Posted by MrsRuth on :
Yep mee too Mikesay Mee too
Posted by mikensay on :
Related Quotes Sym. Price Chg. ICAN Trade News 0 0 IBAC Corporation New Ticker Symbol Will Be Effective at the Open of the Market on 3/10/2006, and the New Symbol for the Company Will Be IBCX
March 09, 2006 21:09:01 (ET)
NEW YORK, Mar 09, 2006 (BUSINESS WIRE) -- IBAC Corporation (ICAN:PK) has a new ticker symbol (IBCX:PK) for its stock, effective Friday March 10, 2006 at the commencement of trading.
The NASDAQ Stock Market assigns a new ticker symbol when a company undertakes a reverse split of its stock.
As a result of the reverse-split, every 80 shares of company's common stock will be changed into one share of common stock. The reverse split affects all shares of common stock outstanding before Friday. The company will issue an additional share of common stock in lieu of fractional shares.
"This is the first step in restructuring the company for the anticipated growth and plans going forward, I reiterate that the company will have 150 million common shares outstanding and a total of 500 million common shares authorized, the 350 million common share difference will remain in the company's treasury and will not be liquidated. The next phase of this restructuring will be the completion of the audited financial statements and then filing to trade on the OTCBB. The company has several potential acquisitions that it is reviewing and will be determining which of those it will acquire in the very near term," said Wayne Burmaster President & COO IBAC Corporation.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: IBAC Corporation
Posted by unreal33 on :
Hmmm, well I have the new ticker symbol listed in Ameritrade but I'm also still holding my original 3.1 million shares....
Posted by NomarKash on :
i'm sure we will see a lot of movement both up and down today on speculation. then it will slowly go way down over time. good luck to all. i'm riding the ship with mrs. ruth.
Posted by seanny66 on :
I agree with MV - don't let the PPS drop like a rock - good thing we didn't go below .0001
Posted by MrsRuth on :
Well Nomar here we go hun...... Stuffing pillows to cushion the blows..... And of course Scottrade is going to be pokey about getting my shares in order from the r/s & name change. I reallyyyyyyyyy hate this.....
Posted by NomarKash on :
ah my beloved scottrade - my shares, ticker are all screwed up as well.
Posted by going for gold on :
ok,call me a fool i kept my 17m,any indication on the L2,how this R/S will go
Posted by NomarKash on :
who will be first to purchase this new stock? anyone, anyone?
Posted by MrsRuth on :
LOL.... coffee NomarKash? Itsssss gonna be a longgggg Friday.......
Posted by MrsRuth on :
Gold as far as I can tell we have no movement Bid is at .0005 ask is at .05.. L2 I cant find any
Posted by MrsRuth on :
I hope with all my heart that Mr. Wayne and Mr. Ed are using Scottrade or a company that is equivelant in their process of changing over to the new shares and name..... Annnnddddd cant touch their stocks until Monday. Hehehehe now wouldn't that be justic....
Posted by 7 of 9 on :
im trying to buy as much as i can of ibcx
i hope u guys arent bagholders
i dumped ican last week
Posted by MrsRuth on :
Well something is stiring cause the Bid is now down to .002
Posted by 7 of 9 on :
ameritrade shows ibcx with a 20 bid now
no trades
IBCX Bid: 0.002 Ask: 0.05 Last: 0.008 ($): 0 Vol: --
Posted by MrsRuth on :
Yep ANdddddd its a stinky bag at that 7 of 9.... Why would you buy in right now instead of waiting for it to drop back down to nothing by ohhhhh a few weeks from now?
Posted by NomarKash on :
yeah i dont see the benefit in buying right now.
Posted by 7 of 9 on :
i trade at 30, 18k shares
bid is still 20
Posted by NomarKash on :
he we go, first trade and we are down 63%
Posted by 7 of 9 on :
well i always try to pick up cheap shares after a reverse
part of being a good trader
but this ibcx is not very cheap after a 1:80 r/s so ill prob. pass.
Posted by MrsRuth on :
crap there it goes down .0005 in little over 30 min I soo give up......
Posted by NomarKash on :
fat fingers or $.02?
Posted by MrsRuth on :
I dont know Nomarkash but wish I could find out when Scottrade will have us fixed I cant call the kids are too loud... They are playing in the bouncey castle.... If it wasnt for me being able to watch them play I would be crying I really really was hoping that ICAN was my way of making the money I need to get a center....
Posted by stockaholic on :
You guys should start a fresh thread with the new symbol. Might make for a better outlook for those holding. : ) Hopefully the new guy has some sense and a few morals.
Posted by mikensay on :
E-trade hasn't updated my account either.
It would also be nice to see the company update their website. You would think they would update the site as they put out PR's.
Does anyone see volume? my ticker says 583,287 seems quite low.
Posted by NomarKash on :
thats the same volume i've got
Posted by mikensay on :
Well then. Haven't been through this before so I don't know if low volume is good or not.
It would really help the s/p if they would have also P/R'd that they have applied to go to another exchange. This would set us apart from all the other R/S's.
Here's to hopin someone is taking care of my bag.
Posted by NomarKash on :
i'm working on a new IBAC thread. I will post the link when I'm finished.
Posted by unreal33 on :
damn, anyone able to sell at these prices?
Posted by NomarKash on :
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DONT DROP THE BALL, EDDIE
