This is topic IBCX - Ibac Corp. (DD included) in forum Micro Penny Stocks, Penny Stocks $0.10 & Under at Allstocks.com's Bulletin Board.


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Posted by NomarKash on :
 
IBAC Corporation is a publicly traded holding company trading under the symbol (IBCX.PK). The company operates through its subsidiaries within the restaurant, food service and hospitality industry.

Subsidiaries:
The Sanibel Restaurant Group, Inc.
National Hospitality Management Services Co.
Royal Arkansas Hotel & Suites
Days Inn Hotel Memphis Tennessee

New's from the last nine months:

NEW YORK--(BUSINESS WIRE)--July 15, 2005--IBAC Corporation (IBCX: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.

NEW YORK--(BUSINESS WIRE)--July 25, 2005--IBAC Corporation (IBCX: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.

NEW YORK, Aug 02, 2005 (BUSINESS WIRE) -- IBAC Corporation (IBCX.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.

NEW YORK, Sep 07, 2005 (BUSINESS WIRE) -- IBAC Corporation (IBCX.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.

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.

NEW YORK, Oct 10, 2005 (BUSINESS WIRE) -- IBAC Corporation (IBCX.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.

MEMPHIS, Tenn.--(BUSINESS WIRE)--Oct. 17, 2005--IBAC Corporation (IBCX: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.

NEW YORK, Nov 16, 2005 (BUSINESS WIRE) -- IBAC Corporation (IBCX.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.

NEW YORK--(BUSINESS WIRE)--Dec. 6, 2005--IBAC Corporation (IBCX.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.

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.

NEW YORK--(BUSINESS WIRE)--Jan. 3, 2006--IBAC Corporation (IBCX.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.

NEW YORK, Jan 11, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets: IBCX) 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.

MEMPHIS, Tenn.--(BUSINESS WIRE)--Jan. 23, 2006--
IBAC Corporation (PINK SHEETS: IBCX) 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.

NEW YORK--(BUSINESS WIRE)--Jan. 30, 2006--IBAC Corporation (PINK SHEETS: IBCX - News) today announced that it has agreed to acquire Gibraltar Commercial Finance Corporation as a wholly owned subsidiary.

NEW YORK, Mar 02, 2006 (BUSINESS WIRE) -- IBAC Corporation (IBCX:PK) today announced that it has named Mr. Wayne Burmaster as its new President & COO.

NEW YORK--(BUSINESS WIRE)--March 6, 2006--IBAC Corporation (IBCX.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.
 
Posted by mikensay on :
 
Now isn't that nice, highlights right up front. Thanks NomarKash
 
Posted by justplayin on :
 
Norm,

Thanks for the start up and posting the pr's.

Great for the new symbol so peeps know where we were and where we are going.
 
Posted by NomarKash on :
 
Anyone with scottrade have thier ibac shares trading under the new symbol yet?
 
Posted by eox on :
 
Or Etrade?
 
Posted by skipdeez on :
 
I have choicetrade and my shares show as IBCX, and I have much less than I did yesterday. [Smile]
 
Posted by NomarKash on :
 
quote:
Originally posted by skipdeez:
I have choicetrade and my shares show as IBCX, and I have much less than I did yesterday. [Smile]

have you tried to sell yet?
 
Posted by MrsRuth on :
 
I'm impressed so far. Be even more impressed if Scottrade had us up n running with the new name and shares.
 
Posted by NomarKash on :
 
Hopefully everything will be good to go on Monday in my account. Just in time for the big crash!
 
Posted by MrsRuth on :
 
Im sitting there with you Nomarkash.......
 
Posted by going for gold on :
 
according to pinksheets .com last sale was 0.01 and volume was 2919885,anybody any thoughts
 
Posted by NomarKash on :
 
well my scottrade account is still not fixed. i'll be calling in the morning if its not fixed by then.
 
Posted by MrsRuth on :
 
Same here NomarKash...... Here is hoping for the best.
 
Posted by MrsRuth on :
 
Well NomarKash I called Scottrade and my broker said it normaly takes a few days. But they would try to get someone to work on it to hurry up the process...... LOL ummm ok
 
Posted by tarq3 on :
 
IBAC Corporation's Board Approves an Additional Reduction of Its Authorized Common Shares and 15% Share Dividend
Business Wire - March 13, 2006 08:46

NEW YORK, Mar 13, 2006 (BUSINESS WIRE) -- IBAC Corporation (IBCX:PK) announced Friday after the bell that it's Board of Directors has approved an additional reduction of its authorized common shares to 200 Million from 500 Million. The Board also approved a 15% stock dividend, with this action the Board believes it will further help bring the company's market 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 regdex/504 and will not do so; the decision was made after long discussions with our advisors. We believe the action will enhance the value of the company and will help create a stronger balance sheet/audit when we apply to the OTCBB for listing.

The reduction in the authorized shares will take effect immediately with the appropriate filings being submitted to the Secretary of State of Delaware this week, the 15% stock dividend pay date will be announced by this Wednesday and appropriate paperwork immediately filed. This will leave the company with 200 million common shares authorized and with the 15% stock dividend 172,500,000 million common shares outstanding, the balance of 22,500,000 million common shares will remain in the company's treasury and will not be liquidated.

"We have decided to reward our shareholders with this 15% stock dividend for their loyalty and patience as we continue to bring the share valuation in line with the company's assets/revenues. The company last year also rewarded its loyal shareholders with 25% in stock dividends. We are continuing to strive towards maximum shareholder value and confidence in the direction of the company while we ready/prepare ourselves for listing on the OTCBB." 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.

For more information, please visit: www.ibaccorp.com
 
Posted by moosehead9nc on :
 
bid is up to .009 now... ask is still at .015, let's see if someone is willing to buy at 15
 
Posted by NomarKash on :
 
i'll be happy with 15% more shares in my account (if ICAN ever converts to IBCX).
 
Posted by MrsRuth on :
 
Yep Yep so least they seem to be trying
 
Posted by Mack on :
 
.008 x .015
 
Posted by Mack on :
 
.009 x .015 bid moving up
 
Posted by moosehead9nc on :
 
ask dropped to .01
 
Posted by NomarKash on :
 
this is actually riding pretty good.
 
Posted by scoopman on :
 
I don't want to sound stupid, but my Waterhouse account hasn't updated my IBAC holdings yet. In order to get a proper read on my holding after the R/S, I divided my 7,000,000 shares by 80 to get 87500 and multiplied my average share cost of .0002575 by 80 to get .0206

Thanks,
Tom
 
Posted by NomarKash on :
 
you're right on Tom - my scottrade is yet to up either.
 
Posted by MrsRuth on :
 
but its ridding without most of us it seems wahhhhh lol
 
Posted by scoopman on :
 
Thanks,

If they have reduced the AS and don't dilute, this might not be so bad, especially if they come through with the move to the OTCBB.

Tom

quote:
Originally posted by NomarKash:
you're right on Tom - my scottrade is yet to up either.


 
Posted by mikensay on :
 
I don't want to be a downer but this just seems like games to me.

Really, Couldn't they just have reduced the number of shares from the get go? That would have been far better received.

Don't get me wrong I like additional shares but if the s/p goes down what was the effect?

Here's to hoping they announce move to another board soon!
 
Posted by MrsRuth on :
 
Does anyone think that maybe we have have a chance to see IBCX getting to the OTCBB when the company turns in its 1/4 report by next month?
 
Posted by Bigrod40 on :
 
[Cool] Up 30%
 
Posted by NomarKash on :
 
Finally got my IBCX shares in my scottstrade account - how about you Mrs. Ruth?
 
Posted by worthashot on :
 
I wouldn't be surprised if it went up another 30% tomorrow [Smile]
 
Posted by upupandaway on :
 
Since I started trading pennies I have had some problems with Scottrade so have talked to the local office... they explained they are not really prepared to handle pennies due to software issues and since it doesn't cause major problems for customers there is no big rush to correct the problems.

I have noticed R/S name changes not taking until I called them explaining I wanted to sell my shares and bizarre maintenance calls that are always errors because I don't trade on margin.

I am going to check into another broker for pennies... I have heard choicetrade is good... any other recommendations?

Also, now it goes up after I sold what I had before the R/S [Smile]
 
Posted by NomarKash on :
 
yeah i heard no with choicetrade had a problem with the Ibac split.
 
Posted by MrsRuth on :
 
Yep Mine are fixed also Nomar.. Let the run continue lol
 
Posted by MrsRuth on :
 
Humm seems to be very quite this morning here.... Hellloooo (echo...echo...) lol
 
Posted by NomarKash on :
 
I was thinking the same thing. But volume actually doubled since your last post. Price spiked for a little bit but back to the open price.

Of course this isn't moving now that we all have it in our accounts and are ready to trade [Smile]
 
Posted by NomarKash on :
 
Spread is weakening - watch it.
 
Posted by moosehead9nc on :
 
i wonder how long this run is going to last
 
Posted by NomarKash on :
 
so do i
 
Posted by amanick on :
 
won't last long it will flutter the rest of the week. When the next news comes out if it is positive then I think we will have a spike. Having said that the divedend date is unknown and shares will be given we should see some kind of action with this. I belive that we will have one more r/s before or at the end of the summer before we move to the other board.
 
Posted by NomarKash on :
 
what would be the purpose of another r/s in only a few months?
 
Posted by mv on :
 
Where is the widely-expected post rs crash?The pps is going up.Conventional wisdom doesn't work for ibcx.If they announce audit and filing,we will see 10 cents very soon.
 
Posted by going for gold on :
 
0.014 :-)
 
Posted by going for gold on :
 
dividend date 24/3/2006, pay date 31/3/2006
 
Posted by mikensay on :
 
IBAC Corporation`s Announces 15% Stock Dividend Effective Date and Mail Date

March 15, 2006 11:24:01 (ET)


NEW YORK, Mar 15, 2006 (BUSINESS WIRE) -- IBAC Corporation (IBCX.PK) announced today that the Board approved 15% stock dividend will be paid effective March 24, 2006 and will be paid and mailed out on March 31, 2006.

The company has not filed for any new regdex/504 and will not do so; the decision was made after long discussions with our advisors. We believe the action will enhance the value of the company and will help create a stronger balance sheet/audit when we apply to the OTCBB for listing.

The reduction in the authorized shares has been filed with the Secretary of State of Delaware this week. This will leave the company with 200 million common shares authorized and with the 15% stock dividend 172,500,000 million common shares outstanding, the balance of 27,500,000 million common shares will remain in the company's treasury and will not be liquidated.
 
Posted by going for gold on :
 
0,016 ,love to see it
 
Posted by unreal33 on :
 
What does it mean "The company has not filed for any new regdex/504 and will not do so;"
 
Posted by mikensay on :
 
quote:
Originally posted by unreal33:
What does it mean "The company has not filed for any new regdex/504 and will not do so;"

I believe it is a Regulation D Sec filing. Someone correct me if I'm wrong but I think it deals with the company being able to add additional shares via other financing methods. So, if I'm correct then this leaves the door open to them being able to use the shares in treasury if they need to.... Oye, not very clear, I'll see if I can dig up a better explanation.
 
Posted by unreal33 on :
 
Thanks, I'm debating dumping now at a loss or holding on for OTC...
 
Posted by going for gold on :
 
what do you have to lose unreal,things can only get better,i'm in this since 10/2004 finally i'm thinking,this is finally going the right way
 
Posted by Bigrod40 on :
 
Hav'nt lost nothing if you don't sell
 
Posted by unreal33 on :
 
well, I guess I see a lot more future in PBLS, and I want to buy more while its low... on the other hand I was at one point a true believer in ICAN, and it would be cool to see it through to some green
 
Posted by NomarKash on :
 
i've got a lot of money tied up into IBCX - if it rises over .02 i may be out and buy back in on dips or after the otcbb move. i just fear the hype will die down and ed will continue to lie.
 
Posted by mikensay on :
 
I break even at .022 now and have been in for over a year now.

If they announce filing for moving to OTC by months end, as they PR'd by the end of first qtr and before R/S and new ticker, then I think this should be good to hold but if no announcement happens I believe they'll lose traction.

Still, it's so nice to see my losses narrow. It's been a hell of a ride.
 
Posted by NomarKash on :
 
my break even point is .016 so i'm watching the price closely. i still believe in ibac - just not its leader.
 
Posted by mikensay on :
 
Damn Nomar. You are right on the cusp. I'm guessing you bought late summer last year?

I bought based upon a lot of the PR's late 2004 and early 2005. I really drank the coolaid and was hoping the price would have gone up to penny land. Then dilution, then missed promises on PR's and company purchase backouts etc... pretty soon we hit bottom and here we are.

I do think this will be a great company just thought I'd be sittin a little better by now.
 
Posted by NomarKash on :
 
i bought everywhere from .0001-.0004 starting in the fall of 2004. i've been able to price average pretty low thankfully.
 
Posted by mikensay on :
 
Does anyone else think it's odd that the company doesn't update their website very often?
 
Posted by moosehead9nc on :
 
my break even point was .01 , so i'm just riding now.
 
Posted by MrsRuth on :
 
Anyone else having problems getting into their scottrade account this morning?
 
Posted by MrsRuth on :
 
Ok whats going on I cant even get trading quotes for today on IBCX from Equity Alliance....?
 
Posted by Bigrod40 on :
 
Zero Volume??
Maybe Eddie halted trading for the Blockbuster PR thats coming....LOL
 
Posted by MrsRuth on :
 
You are soooo not nice Bigrod lol
 
Posted by Bigrod40 on :
 
[Wink] Its ok to dream, isn't it MrsRuth??

LOL
 
Posted by MrsRuth on :
 
OHHHHH you ment it without a scarcastic tone... lol Dream away hun Dream away lol.
I did get into my Scottrade account just took more time then usual they must be having technical difficulties.... Surprise!!!!!!!!
 
Posted by NomarKash on :
 
i do love how a 20,000 buy raises the stock almost 15%
 
Posted by NomarKash on :
 
scottrade is working fine for me mrs. ruth.
 
Posted by MrsRuth on :
 
Mines showing now too Nomar. Just took some time to get into it today. Still dont explain the why the other sites i use for getting quick quotes are not showing IBCX at all for todays date. Scottrade is showing Volume 107,500 bid is .013 and ask is .015. Guess my buying at .011 is not gonna go through today huh? lol
 
Posted by amanick on :
 
reason for another r/s is still to many o/s even though it was cut back I dont believe it was enough. Im believing that they will do so before the jump to the new board.Im almost certain that they want this to go to the new board at a much higher price then what the last r/s was able to accomplish.
 
Posted by MrsRuth on :
 
Well I have to get back to finishing my business plan.. I have an opportunity to open a day care center…. That is if I can find some crazy person to loan me $400,000.00 for the next 10 years… Not sure if offering a profit of $200,000.00 at the end of the 10 years will raise any potential investors?? Any thoughts?
 
Posted by mikensay on :
 
quote:
Originally posted by MrsRuth:
Well I have to get back to finishing my business plan.. I have an opportunity to open a day care center…. That is if I can find some crazy person to loan me $400,000.00 for the next 10 years… Not sure if offering a profit of $200,000.00 at the end of the 10 years will raise any potential investors?? Any thoughts?

You've got a PM
 
Posted by going for gold on :
 
[Wink] going north,any opinon what the pps will do after the dividend
 
Posted by MrsRuth on :
 
Its Friday!!!!!! Means half of the children that I normaly have the next 2 days. And as a bonus I dont have to get up at 5am heheheheh Yesss I love Friday's
 
Posted by MrsRuth on :
 
Mike hun you have a PM sorry I missed yours yesterday.
 
Posted by imakmony2005 on :
 
HMM
 
Posted by mikensay on :
 
Such low volume today. It must be drunk-thirty
 
Posted by going for gold on :
 
i am curious for monday,the spread 0.012 -0.019
 
Posted by MrsRuth on :
 
Nah how about .0152 - .02 that looks possible...? lol
 
Posted by mv on :
 
I don't believe one more rs is necessary.We are ready to move on to otcbb now.I expect more good news coming soon and the pps will pop.Management sees investors'confidence is gradually coming back.They don't want to blow it this time because that means the end of Ican.It can only be good from this point on.
 
Posted by mikensay on :
 
I like your outlook, mv, but where do you see that the "Management sees investors' confidence is gradually coming back."?

I'm not convinced until I see that they have applied to move to otcbb and also see the audited financials. They said by the end of first qtr. Hopefully they bring it through.

But for there to be much more interest this thing needs to get past the two lines many investors draw (above $2 and then above $5)

For that to happen they either need to R/S or show one hellova balance sheet.

glta
 
Posted by amanick on :
 
I have to agre with milkensay as thats been my thought all along. So far my predictions were pretty much on target. My only thought now is whether or not I should jump on another load of this stuff before they make there next move.
 
Posted by moosehead9nc on :
 
IBCX -- IBAC Corp.
Com ($0.001)(New)

COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:

IBAC Corporation Holds Talks to Acquire Additional Eight Steakhouses in the Northeast Region

NEW YORK, Mar 20, 2006 (BUSINESS WIRE) -- IBAC Corporation (PK:IBCX) announced that the company has held discussions to acquire eight additional steakhouses in the Notheastern part of The United States from two separate parties to be named at a later date.
The Steakhouses operate similar to the Outback/Lone Star Steak House operations and operate in the states of New York, Vermont, Massachusetts and Connecticut. The combined revenues represented by this potential acquisition would represent 18 to 21 Million Dollars per year in additional revenues to the company.

IBAC Corporation operates Hotels & Restaurants with over 125 employees in three states Tennessee, Arkansas & Florida with revenues for 2005 of 4.5 Million Dollars if the company is successful we will add an additional eight restaurants and over 200 employees.

"With the required due diligence involved in any acquisition or merger, we will not yet name the candidate until our review of the company's inventory, assets, financial statements is complete and a definitive agreement is signed. We do however, wish to inform our shareholders of this potential acquisition, given the potential impact on operations," stated, Wayne Burmaster President and COO. "We expect the due diligence process to be completed in sixty days and, pending a favorable outcome, a definitive agreement would be entered into immediately."

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.

For more information, please visit: www.ibaccorp.com

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "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, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.

SOURCE: IBAC Corporation


CONTACT: IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations*ibaccorp.com
www.ibaccorp.com


Copyright Business Wire 2006

-0-

KEYWORD: United States
North America
Connecticut
Massachusetts
New York
Vermont
INDUSTRY KEYWORD: Retail
Restaurant
Specialty
Construction & Property
Commercial Building & Real Estate

http://www.pinksheets.com/quote/news.jsp?url=fis_story.asp%3Ftextpath%3DCOMTEX%5Cbw%5C2006%5C03%5C20%5C76802506.html%26clientid%3D168%26provider%3DBUSINESS_WIRE&symbol=IBCX
 
Posted by NomarKash on :
 
and where do they get the money for that?
 
Posted by moosehead9nc on :
 
good question, but whatever the answer is, 18-20 mil revenue is a big increase from 4.5, hmm, i just wish they would update their website, maybe they are working on it
 
Posted by ACKCANE on :
 
Nomar - Do you think they are going to pay cash for these acquisitions? Still $24,000,000 in a down payment is a large chunk of change.
 
Posted by NomarKash on :
 
of course i dont think they are going to outright buy it. but what bank would loan money to a company if they are stretched paper thin? leads me to believe their books look better than perceived.
 
Posted by ACKCANE on :
 
They would loan money to a company based on the acquisition. If IBAC, Corp actually knows what they are doing this new acquisition would be formed under a new LLC. If IBAC can somehow come up with $24,000,000.00 then I'm sure a bank would loan the rest based on the value of the properties and income.

IMO, we will hear a few weeks from now that the company decided to buy only one or two of said restaurants. They don't have the cash for a down payment that size and this is just another PR that references only intent, not actual completed acquisitions.
 
Posted by mikensay on :
 
I like the news but I'm with you ACKCANE, they're really good at pr'ing their intent to acquire but not going through with it.

As far as getting the loan, don't forget the connections with Turner Hughes. I'm sure there are some loans that could get them what they want especially if they can get the value of the operations to be 15% higher than the sales price.
 
Posted by Galaxy on :
 
These guys still need to pay $166,846.84 to DE state as Tax Due. and also their tax status is DELINQUENT. They need to pay, no idea why didnt pay the tax.
 
Posted by ACKCANE on :
 
What is the tax for? Do you have a link?
 
Posted by Galaxy on :
 
https://sos-res.state.de.us/tin/GINameSearch.jsp

go there and type IBAC and check status, you need to pay $20 to get full report about this guy.
they said total authorized shares 500 Mil. but they filed 520 Mil (they are still lieing to shareholder for the additional 20Mil). I havent check the 200Mil things( they said, they reduced the AS to 200mil)
 
Posted by mikensay on :
 
Hmmm kind of odd that the state would charge you for corporate information that's on-line.
 
Posted by NomarKash on :
 
ask has risen to .017, i'm tempted to sell all my shares at .016 to break even. anyones thoughts?
 
Posted by ACKCANE on :
 
What happened to the Texas aquisitions?
 
Posted by going for gold on :
 
nomar kash, i think i'am gonna wait little longer,maybe after the dividend,my break-even is 0.034
 
Posted by PRDPONCE on :
 
i just got some of this hoping for a little momo... chart starting to look good
 
Posted by going for gold on :
 
nice volume today,who knows soon 0.02 :-)
 
Posted by PRDPONCE on :
 
.017 x .018

got in .016 looking good
 
Posted by NomarKash on :
 
.018.......we may actually see .02 this week! i'm staying in for a little while.
 
Posted by Bigrod40 on :
 
Finally, a R/S that has worked!!!
A rarity indeed...
 
Posted by Double Diamond on :
 
quote:
Originally posted by NomarKash:
and where do they get the money for that?

US
 
Posted by going for gold on :
 
personally i hope within 2 months ibcx would be around 0.04-0.05,maybe i'am dreaming,but so far things are looking really well after the r/s.
i guess, it will depend on the move for the otcbb board
should be nice to have a little profit after 1.5 year full of hope and frustration
 
Posted by mikensay on :
 
Wouldn't that have been nice, without the r/s I would have been rich. Now, .05 would get me around 10K. What a difference.

If we saw the below by end of month we could see the .05 range.

being fully reporting, announcing the move to otcbb, and guidance.

Now, I'm just happy to be that much closer to even than I have been in months.
 
Posted by mcspeechless1 on :
 
Could this be a comeback? Lmao, from what?
 
Posted by buzzygresham on :
 
why are we going down?
 
Posted by buzzygresham on :
 
where do you guys see talk about going public?
 
Posted by mikensay on :
 
Go back to the first page of this thread or search ICAN thread. All PR's are there.
 
Posted by going for gold on :
 
quiet today,maybe everybody is waiting for the divdend friday
 
Posted by buzzygresham on :
 
does anyone know if they have even applied yet?
 
Posted by amanick on :
 
Once the divedend is given I see this droping a bit for those that just wanted the free shares will dump. I believe that this will be a good time to buy more shares as well.I am still anticipating a r/s sometimes before they got to the other board. Even though if that should happen buying cheap sahers and holding will have it's benift. The last r/s still left me with a decent profit from my accumulation. This is a long not a short and definatley not a get rich over night stock.
 
Posted by mikensay on :
 
What do you mean this isn't a get rich over night stock, amanick?

Agreed it's not, however, I'd feel a lot better if there was more transparency by now. There have been too many fluff pr's like the last one announcing the intent to purchase two companies. It's great to read but there's been a history of nothing but intent.

I'm anxiously waiting to find out to see what happens at the end of the quarter---just a few days away.


GLTA..
 
Posted by amanick on :
 
I agree with the PR's on purchases or attempts to purchase. This company has a habit or releasing info before the deal is even inked which I dont belive is in their best interest.If what they are saying is true then no doubt this will make this stock very valuable. But a lot of the deals they look at probably are not feasible once they really look at the whole picture.I am still not understanding why they bought a finance company rather then do a bigger buy back rather the the r/s. Im hoping that they use the finance company to lower there interest cost on the purchases to finance the other projects that they are / will be working on. My prediction is that once this gets to the other board it will take a year or two before we see any significant gains. However if this does go according to thier plans if they stay with it and no more false PR's This could see several dolars very quickly
 
Posted by mikensay on :
 
amanick, if only we could get to the several dollars quickly without another R/S I'd be rolling in $$$


Here's my speculation.

I originally thought that the company was bought to refinance all debt at favorable and yet less costly fees but now I think this was probably just part of the reason.

The finance company was purchased to give Ed more comfort in what he's doing. This is his background and I imagine he's enjoyed this venture but has taken the company as far as he could without royally messing it up. So, to save face, he bought this company, turned over the reins to the new guy(can't remember his name) with experience.
 
Posted by casviper on :
 
Dollars, are you kidding. We can barely support a solid penny or two.
 
Posted by amanick on :
 
Casviper - at this stage I agree with what you are saying. Read my postings and you will understand that I am talking long term. I am in long term .If you dont have faith in a stock you shouldnt be in it period.when you approach anything in life with negitivity you get just that out of it. This stock for me has been favorable so far even with thr r/s and the free shares.If in fact the last statement released by the company proves to be on par then we will see a positive outcome.
 
Posted by NomarKash on :
 
If I sell today will I still get the dividend or do I have to be a shareholder at close of business today?
 
Posted by MrsRuth on :
 
I was wondering that also Nomarkash
 
Posted by amanick on :
 
have to hold 3 days after closing of shares to recieve it I believe
 
Posted by NomarKash on :
 
guess the dividend didn't spur many buys today....
 
Posted by mikensay on :
 
I didn't think the dividend was going to be posted till end of day.

But if some got theirs, then we haven't seen as much of a sell off either. That's good.
 
Posted by NomarKash on :
 
i think today is just the day you need to own ibcx to get the dividend. i think the payout date is next friday the 31st...
 
Posted by ACKCANE on :
 
What are the details of the dividend?
 
Posted by NomarKash on :
 
NEW YORK, Mar 15, 2006 (BUSINESS WIRE) -- IBAC Corporation (IBCX.PK) announced today that the Board approved 15% stock dividend will be paid effective March 24, 2006 and will be paid and mailed out on March 31, 2006.

The company has not filed for any new regdex/504 and will not do so; the decision was made after long discussions with our advisors. We believe the action will enhance the value of the company and will help create a stronger balance sheet/audit when we apply to the OTCBB for listing.

The reduction in the authorized shares has been filed with the Secretary of State of Delaware this week. This will leave the company with 200 million common shares authorized and with the 15% stock dividend 172,500,000 million common shares outstanding, the balance of 27,500,000 million common shares will remain in the company's treasury and will not be liquidated.
 
Posted by ACKCANE on :
 
Thanks.
 
Posted by mikensay on :
 
The website has been updated...

IBCX.PK

TOTAL AUTHORIZED COMMON SHARES AS OF 3/24/06 200,000,000
ISSUED AND OUTSTANDING COMMON SHARES AS OF 3/24/06 150,000,000
 
Posted by amanick on :
 
Now you see why I say another r/s can and more then likely happen
 
Posted by mikensay on :
 
yeah I see it, I don't want it to happen but I'm more interested in transperancy at this point.

If they can update on the dealings that have been PR'd since January, that would be great.
 
Posted by mikensay on :
 
A fair amount of updating of the website going on this weekend. I know this doesn't do anything for the s/p but the fact that there are changes being made tells me the new guy is giving a pretty good look around the company and making changes.
 
Posted by mv on :
 
It seems our company is back on the right track.
 
Posted by NomarKash on :
 
i hope we can see .02 today.
 
Posted by unreal33 on :
 
IBAC Corporation Holds Talks to Acquire Additional Eight Steakhouses in the Northeast Region
Monday March 20, 8:30 am ET

NEW YORK--(BUSINESS WIRE)--March 20, 2006--IBAC Corporation (PK:IBCX) announced that the company has held discussions to acquire eight additional steakhouses in the Notheastern part of The United States from two separate parties to be named at a later date.

ADVERTISEMENT
[0]
The Steakhouses operate similar to the Outback/Lone Star Steak House operations and operate in the states of New York, Vermont, Massachusetts and Connecticut. The combined revenues represented by this potential acquisition would represent 18 to 21 Million Dollars per year in additional revenues to the company.

IBAC Corporation operates Hotels & Restaurants with over 125 employees in three states Tennessee, Arkansas & Florida with revenues for 2005 of 4.5 Million Dollars if the company is successful we will add an additional eight restaurants and over 200 employees.

"With the required due diligence involved in any acquisition or merger, we will not yet name the candidate until our review of the company's inventory, assets, financial statements is complete and a definitive agreement is signed. We do however, wish to inform our shareholders of this potential acquisition, given the potential impact on operations," stated, Wayne Burmaster President and COO. "We expect the due diligence process to be completed in sixty days and, pending a favorable outcome, a definitive agreement would be entered into immediately."
 
Posted by going for gold on :
 
maybe this week we break 0.02,looking good
 
Posted by Runamuck on :
 
lol I am still holding this piece of shyt...
 
Posted by mikensay on :
 
O/S has been reduced a bit....


IBCX.PK

TOTAL AUTHORIZED COMMON SHARES AS OF 3/27/06 200,000,000
ISSUED AND OUTSTANDING COMMON SHARES AS OF 3/27/06 149,292,912
 
Posted by mikensay on :
 
IBAC Corporation Today Has Agreed to Acquire the Sanibel Steakhouse in Bonita Springs, Florida
Wednesday March 29, 10:52 am ET


NEW YORK--(BUSINESS WIRE)--March 29, 2006--IBAC Corporation (PK:IBCX) announced today that they have reached an agreement and tendered a deposit to acquire the Sanibel Steak House in Bonita Springs, Florida.
ADVERTISEMENT


The Company had previously contracted to acquire the Steakhouse and decided not to exercise its option to purchase said restaurant for administrative reasons at that time, at this time however the company as it looks to increase its operations in Florida has determined that this acquisition would fit with its growth strategy going forward and has agreed to acquire the restaurant.

The restaurant will add an additional 2.5 to 3 Million dollars a year in revenue and will increase the company's visibility with another location. The Restaurant will be renamed The Sanibel-Palms Steakhouse like its Ft Myers unit (www.thesanibelpalmssteakhouse.com), the closing date for this property will be on or before May 1, 2006.

The acquisition will include a five year lease with an option for an additional five years along with an option to acquire the land and building at a price to be determined. The acquisition price is $900,000,00 dollars for the business and is being paid for by the company's private line of credit.

"We are thrilled with this acquisition and will complete all contracts, lease's and due diligence involved within the next two weeks of the restaurant's inventory, assets and financial statements. Stated, Wayne Burmaster President & COO. "We expect be adding more restaurants and a hotel in the near future in the Florida market."
 
Posted by Bigrod40 on :
 
Going to be a penny-stock surprise in 2006.
 
Posted by mikensay on :
 
So how does the company make this buy for 900K when they anticipate 2.5-3M a year?

It looks great but who would sell at .3x annual revenues? Most people want to sell at a min. of 3x-6x annual earnings.
 
Posted by NomarKash on :
 
on again off again - who knows if this transaction will actually go through. it didnt last year. oh and off topic - ive been to this sanibel steakhouse location. its the best one of the four existing sanibel steakhouse locations.
 
Posted by NomarKash on :
 
hey mike - they are making even more changes to their website. all the subsidiary links/banners are changed and up to date!
 
Posted by NomarKash on :
 
quote:
Originally posted by mikensay:
So how does the company make this buy for 900K when they anticipate 2.5-3M a year?

It looks great but who would sell at .3x annual revenues? Most people want to sell at a min. of 3x-6x annual earnings.

expenses must be through the roof!
 
Posted by mikensay on :
 
Hey there Nomar, Yeah I've been watching everso closely to the site. This is the most they've done in months. you notice the stock quote has changed as well.

I'm anxious to see what the new COO's background is.

In keeping with good sportsmanship, I e-mailed them and expressed my grattitude for their newly found energy with the company. Most oftem people only complain and I hate for them to see only attitude.

Here's one thing that has been on the top of my mind lately.... They PR'd in January or December that they will be applying to a new board (otcbb) by the end of the first quarter and we are only two days away and haven't heard anything. Will they make good? I'm hopeful but it's not looking good.
 
Posted by BchOus on :
 
Could someone please publish the website for IBCX, thought it was IBAC.COM but that is incorrect. Thanks....
 
Posted by mikensay on :
 
http://www.ibaccorp.com/
 
Posted by going for gold on :
 
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IBCX -- IBAC Corp.
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COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:

IBAC Corporation Forms Bonita Springs Restaurant Group, Inc. as a 100% Wholly Owned Subsidiary for the Acquisition of The Sanibel Steakhouse in Bonita Springs, Florida

NEW YORK, Mar 30, 2006 (BUSINESS WIRE) -- IBAC Corporation (PK:IBCX) announced today that they have formed The Bonita Springs Restaurant Group, Inc., a Florida Corporation, as a wholly owned (100%) subsidiary of IBAC for its recently agreed upon acquisition of The Sanibel Steakhouse in Bonita Springs, Florida.
The company and its advisors are considering a reformatting of the restaurants concept/menu that would be more contusive to the area of which would generate greater revenues, the concept under consideration is a international cuisine theme specializing in such fair as poached Chilean sea bass, porterhouse Florentine, kobe beef, tuna sashimi, spaghettini puttanesca and other high end cuisine.

The company believes that with the addition of menu selections that this location can generate upwards of three million dollars a year and will create a new sense of excitement and increased traffic for the establishment.

"We are thrilled with this acquisition and the potential considering the explosive growth of the Bonita Springs Area and will complete all contracts, lease's and due diligence involved within the next two weeks of the restaurant's inventory, assets and financial statements as the company is eager to take possession of the property as soon as possible. The company is also aggressively pursuing additional restaurants and hotels in the Florida market," stated 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.

For more information, please visit: www.ibaccorp.com

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "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, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.

SOURCE: IBAC Corporation


CONTACT: IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations*ibaccorp.com
www.ibaccorp.com


Copyright Business Wire 2006

-0-

KEYWORD: United States
North America
Florida
New York
INDUSTRY KEYWORD: Travel
Destinations
Lodging
Retail
Food/Beverage
Restaurant
Other Retail
SUBJECT CODE: Merger/Acquisition

Search for Dun & Bradstreet reports on this company.









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Comments or Suggestions?

lot of pr coming but pps little dropping
 
Posted by going for gold on :
 
has anyone already received his dividend shares?
 
Posted by BchOus on :
 
I have not received mine as yet, probably will post on Monday, (I assume), if not, well....lots of emails to Ibac...
 
Posted by lilhen2005 on :
 
I have received mine
 
Posted by B on :
 
I received mine
 
Posted by Intimatrader on :
 
I have mine . I had 62,500 shares ..Now I have over 71,000 shares . Showed up in my account after market closed . Now I'm just waiting on my PAIM & SSTY shares . Any other stocks we can buy at a low price they will be paying dividends ? [Big Grin] [Cool]
 
Posted by MrsRuth on :
 
I received mine also.... [Eek!]
 
Posted by mikensay on :
 
Well, there they are. Brought my break even price down a bit, yeah, but I still wish they would have just reduced the O/S by that percentage amount.


On another note, the company had PR'd that they would be applying for OTCBB by end of first qtr. Any thoughts on contigent plans???
 
Posted by buzzygresham on :
 
is this thing supposed to do anything anytime soon? Any news?
 
Posted by going for gold on :
 
maybe tomorrow gapping 0.01/0.019
 
Posted by going for gold on :
 
NEWS AND PRESS RELEASES FROM OTHER SOURCES:

IBAC Corporation Reports March Revenues

NEW YORK, Apr 04, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:IBCX) today announced revenues for the month of March 2006 for The Sanibel Restaurant Group, Memphis Days Inn Hotel and The Royal Arkansas Hotel & Suites of $419,499.31 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, company wide revenues for The Sanibel Restaurant Group, The Royal Arkansas Hotel & Suites and The Memphis Days Hotel had increased revenues over last year for the same period. (The Company did not own the Memphis Days Hotel last year at this time, revenues was based upon previous ownership records.)

For the first quarter of 2006 revenues of $1,005,189.66 were in line with the company's internal projections and ahead of last years revenues for the same period. The company is projecting continued revenue growth and increase over last year for the second quarter of this year from existing operations and an additional $200,000.00 to $250,000.00 per month from it recently acquired Bonita Springs, Florida Sanibel Steakhouse with its new format (closing/possession scheduled for May 1, 2006).

"We are very pleased with the continued growth of Revenues Company wide and look forward to continued growth over the next three quarters; we will aggressively continue to pursue additional acquisitions to add revenue while streamlining existing operations," 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


CONTACT: IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations*ibaccorp.com
www.ibaccorp.com


Copyright Business Wire 2006

-0-

KEYWORD: United
 
Posted by NomarKash on :
 
we are getting close to post split levels. lets go up not down!
 
Posted by going for gold on :
 
hope the same thing,little disappointed :-(
 
Posted by mikensay on :
 
I'm a little surprised at the expected revenues of 200K-250K this new restruant will be bringing in. This essentially moves the company from a 3.9M in revenue to 6.3M dollar company. This is huge for this size of company. If this is the case then the s/p should be in the .03 range.
 
Posted by ACKCANE on :
 
It's all fuzzy math until they disclose what the debt service is!!!!! and even then it will be fuzzy with all these subsidiaries and different entities. Money gets shifted around where it is needed, blah blah blah . . . I'm hoping and praying, just not holding my breathe.
 
Posted by mikensay on :
 
Agreed it is all fuzzy. I'm also hoping but I don't think we'll see a whole lot in the coming months.

Hope I'm wrong though.
 
Posted by going for gold on :
 
PRESS RELEASES FROM OTHER SOURCES:

IBAC Corporation Reports Audit Progress & Updates

NEW YORK, Apr 05, 2006 (BUSINESS WIRE) -- IBAC Corporation (PINK SHEETS:IBCX) today announced that they have created a special section on its company website www.ibaccorp.com to keep shareholders updated regarding the progress/status of the company's audited financial statements on a regular basis through completion.
The company has taken this action to eliminate any questions or concerns regarding the ongoing process of obtaining audited financial statements and to create as much transparency as possible regarding the company's actions and direction, over the next several weeks many changes will be made regarding the company website and its subsidiaries website's so that the company can better communicate with the shareholders and public regarding its business activities, achievements and status going forward. Once the company has two years of audited financial statements completed it will file the necessary paperwork with the SEC for advancement to the OTCBB.

"We will aggressively continue to work with and provide any and all required documentation or information as requested by the company auditors to complete the task of audited financial statements, per the CEO Mr. Edward W Hayter, 'Wayne get this job completed as soon as possible so that we may apply to the OTCBB as soon as possible,'" said Wayne Burmaster, President & COO IBAC Corporation.

Mr. Burmaster also stated that, "revenues are increasing every month company wide and we expect to have a record year, the company continues to renovate and upgrade its existing properties while adding new acquisitions such as the recently acquired Bonita Springs Sanibel Steakhouse. We have several other acquisitions in several stages of negotiations with the expectations of additional deals being completed in the very near future."

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


CONTACT: IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations*ibaccorp.com
www.ibaccorp.com


Copyright Business Wire 2006

-0-

KEYWORD: United
hopefully they move to otcbb soon
 
Posted by mikensay on :
 
Well, well, well. Seems like they're watching this board.

A little bit of transparency. I like it.

Anyone have an idea of the time it takes to go through an audit?
 
Posted by going for gold on :
 
look at the volume,i don't have L2,but i think a lot of people arre selling :-(
 
Posted by casviper on :
 
This stock has been a mess for a year now and I see no reason for it to change. I just want to break even and get rid of this POS!
 
Posted by mikensay on :
 
Okay, I really don't get the downward move. The PR today seems to be positive and showing more of the cards.

Oye, I'm doing a crapy job of picking stocks the last few months.
 
Posted by amanick on :
 
Sell off was expected. Read my previous posts. Alot had to do with the free shares people got in for and then dumped the rest.I dont mind the drop as I will still buy more as it drops. Even with the r/s im ahead due to the free shares I have recieved both times. The next best thing for this company to do is buy back and retire more of the shares they have to avoid having to do a r/s which I still believe will happen either before the new board or right after. from the pattern of most stocks that have switched its usualy before. The up side is that once they switch to the new board we should see an increase and if they continue with the dividends all can work out fine. As in my other posts I have said this is not a stock that you buy to make a quick gain this is a long term stock that needs patience and nurtreing. If they have a positive business planand dont go over board on a spending spree im sure in the next 3 years we will all have gotten a good profit.
 
Posted by mikensay on :
 
TOTAL AUTHORIZED COMMON SHARES AS OF 4/06/06 200,000,000
ISSUED AND OUTSTANDING COMMON SHARES AS OF 4/06/06 188,937,483


HMMM
 
Posted by B on :
 
As long as this companies management keeps lying especially the CEO Ed Hayter, the shareholders don't stand a chance.

1ST quarter passed and still no end to this audit or listing on a different exchange.

Bottom line you can't believe anything they say!!!!
 
Posted by 401k on :
 
Lots of games with the price today... I gave up and tried to sell at .01

The sell sat all day... even though the high was supposedly .011...

SOOOO... I pulled the sell and will watch and wait as it continues it's slide...
 
Posted by casviper on :
 
The pps continues to fall. This is why I never support a reverse split. You never win. You end up with less shares and the stock continues to fall after the split. I see no reason for this stock to go up. Sorry to be negative, however I'm a realist. This company gives too many stories, they should write books instead of being in the hotel/restaurant business.
 
Posted by mikensay on :
 
Don't know what to say other than, Ed has been more responsive than he was 6 months ago. Wish the'd PR that the company completed the buyback that they PR'd a while ago and further reduced the share count.

At least it's Friday. That's the good news.


-------------- Forwarded Message: --------------
From: Edward W Hayter <ehayter*ibaccorp.com>
To: mikensayxxxxxxxx
Subject: RE: clarification
Date: Fri, 7 Apr 2006 17:17:15 +0000

There is no dilution going on and the share count on the company website is accurate.

That number also includes the 15% dividend just paid


--------------------------------------------------------------------------------

From: mikensayxxxxxxxxxxxxxxxx[mailto:mikensayxxxxxxxxxxxx]
Sent: Friday, April 07, 2006 1:00 PM
To: Edward W Hayter
Subject: RE: clarification



So the Oustanding shares went up to 188M. What gives?



I've applauded your last few weeks activity thinking that you were turning things around, and hopefully you are. However, I must say this last action and looking at the pps now does not make me very confident in your ability to be transparent. It looks like first stages of dilution to me. You owe the stockholders an explanation for the increase in outstanding shares given your last few PR's regarding the AS and OS.
 
Posted by casviper on :
 
TITANIC
 
Posted by TalonSin on :
 
They have been PRing this audit for over a year and it has not even started yet! Check out the website, the april 2006 letter says they just started to commence preliminary planning on it and it will be a few weeks before any field work gets started.

I feel like the jacka$$ with a carrot dangling in front of me every time they release a PR about the audit.

When this hits .0001 again I may average down.
 
Posted by mikensay on :
 
Lucky you, you've got the carrot to look at. I'm in the middle of the pack and all I see are a$$e$$ everywhere.
 
Posted by mikensay on :
 
Remember back when the company thought valuation was around .03/share... Dreaming of those days.
 
Posted by B on :
 
I'm done with this stock. Selling on Monday before I lose all my investment. Ed Hayter has proven time and time again he is untrustworthy!!!

He's been lying about the audit, doing a R/S, moving to the otcbb actual share count, claimed M/M naked shorted the company and this all before the R/S. (That he swore would never happen) He still lying after the R/S.

Cutting my losses, try to make it up on another stock.

GLTA
 
Posted by TalonSin on :
 
There are much better picks out there B. I am just about to double on MLXO. Omog, PMED and RSHN also look good.

If MLXO runs next week like I think, I'm taking my loss in this poor excuse for a stock and I'll never look back. (But I will send a wonderful email to Ed showing him my profit in a real company so he can see what that looks like) [Smile]
 
Posted by NomarKash on :
 
Press Release Source: IBAC Corporation


IBAC Corporation Reports Completed Stock Dividend Payout & Current Common Share Structure
Monday April 10, 7:59 am ET


NEW YORK--(BUSINESS WIRE)--April 10, 2006--IBAC Corporation (Pink Sheets:IBCX - News) today announced that it has completed the payout of the 15% share dividend per the stated pay date of March 31, 2006. The company has also completed the filings with the state of Delaware reducing the company's authorized common shares to 200 Million.
ADVERTISEMENT


After said actions the company's common share structure is authorized 200 Million and the Issued/Outstanding are 188,937,483 million after all payments of dividends were completed, the outstanding share figures were provided by the company's transfer agent after all payments were made and were not the cause of any dilution/selling of shares. The company has not or will not engage in any regdex/504 filings and will not be increasing the authorized common shares.

The company's near term plans going forward include the completion of the recently agreed acquisition of Sanibel Steakhouse in Bonita Springs, Florida by May 1, 2006, completion of audits and filing to move to the OTCBB.

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 TalonSin on :
 
Another PR that tells us nothing new.
 
Posted by mikensay on :
 
Sure it does. It tells us that nothing came about the 8 property acquisition, the Gibraltar Commercial Finance Corporation and the Texas property acquisition.

Whew! At least they don't have to bother working on these projects. Now they can focus on putting together Press Releases for potential acquisitions. They're really good at that.
 
Posted by farmgirl on :
 
.01 Maybe this is finally headed the right direction.
 
Posted by amanick on :
 
If they go through with the expansion and to otb I would think that the first thing they would want to do is to retire shares and reduce the os.They have nothing to gain by not reducing the shares as with that many shares out they wont get any institutional investors which they would need to keep this stock alive.I would think that at best they would have to reduce to 100 million at best.Right now I feel 99% sure that a r/s will happen and very soon. If it doesnt happen in the next 3 months I see a decline happening.As an investor I am watching the price of this stock and trying to determine how many more shares i want to get into or just hold what I got since Im still doing good with it.I can probably withstand one more r/s and see what happens and then after that I could care less im out if it doesnt pop if this stock went to 20.00 a share I will curse it for the rest of my life and its owner. I bought a voodoo doll just in case.
 
Posted by casviper on :
 
This is worse than before the R/S. If we have another R/S we will end up with fewer shares at a lower price. The price hasn't gone up with the R/S, they rarely do in the pennies. This is a POS!
 
Posted by casviper on :
 
POS!!!!!!!
 
Posted by mv on :
 
Keep hope alive!
 
Posted by mikensay on :
 
Who's hope?
 
Posted by mikensay on :
 
Who's hope?
 
Posted by casviper on :
 
MORE BAD NEWS!!!!

This came form ****************** BB.

Florida Properties Bouncing Checks

--------------------------------------------------------------------------------

The Sanibel Property was unable to pay all employees last week. The Tip Checks that were issued bounced due to insufficent funds. It is unclear at this point whether checks to vendors also were returned.

January thru May are the busiest season for restaurants in Fort Myers FL. Normally the profit made during this season are used to survive the following slow season.

The President Wayne Burmaster posted that January & February Revenue were below last year same time. March's revenue was not reported as an individual location but rather included in the sum of several properties so no direct conclusion can be drawn from the March PR.

As of today, the restaurant - a supposed fine dining establishment - has not made restitution to the staff.

If the restaurant can not make payroll during what is normally the most profitable time of the year, who will pay for the losses?

I do not believe Ed, Wayne or the Astrom are going to pay for the losses out of thier pockets.

The restaurant made about 200k - 250k profit a year prior to IBAC taking control. Ed blames the last president for losses early last year but Karl was removed in September. Who is to blame for the losses since then?

It should be noted that revenue was much higher last year same time.

If Ed can't make profit during the busy season - what will happen the during slow season. Ed Hayter has turned a profit maker into a money loser.
 
Posted by BchOus on :
 
Thought they are acquiring the restaurant in May, 2006...Is Ed now in control, before he acquires it....wow...
 
Posted by mikensay on :
 
BchOus, they are acquiring Bonita May 1.


Casviper,
Where did you get this information? I'm not defending the company nor damning them, but where did you learn that they bounced checks? All the rest of your info I realize is your surmize of activities.
 
Posted by casviper on :
 
I copied this from market millionaires
 
Posted by mikensay on :
 
Thanks. I question this post. It may or may not be true, it looks like an opinion rather than fact.

I'll make a call to the company later today to see what info I can get.
 
Posted by casviper on :
 
let me know, thanks
 
Posted by casviper on :
 
POS!! That's all I can say. All promises and no delivery. I say. Sell everything, play the debts and split whats left with the shareholders. Its bound to be more than what the stock is worth. (Just me being mad, very mad) I've held on to this toooooo long!
 
Posted by unreal33 on :
 
quote:
Originally posted by casviper:
POS!! That's all I can say. All promises and no delivery. I say. Sell everything, play the debts and split whats left with the shareholders. Its bound to be more than what the stock is worth. (Just me being mad, very mad) I've held on to this toooooo long!

yeap, this was the second stock I bought last year broke all the rules on this one, chased it down, bought too many shares, etc, etc. Ohwell, live and learn - At least I'm up on PBLS and NDOL!
 
Posted by mikensay on :
 
Well, it looks like I've got company. Unreal, I did the same. Set my rules and broke just about every one of them, except that they actually have a product/service that I can verify. That's what I get for reading PR's for pinkies.

I didn't get anywhere with a phone call, so sent an e-mail. I've been hot and cold with them returning e-mail. Hopefully, I'll get a response and will post it if I do.

I'm not selling right now. I don't expect much but applying to the OTCBB (months late) should be within the next few months. I can't imagine an internal audit would take too long to complete. If/when they apply we should get a bump. Hopefully this won't be too late.
 
Posted by BchOus on :
 
I've held this stock over a year, fell into the dividend trap and can't find a good time to get rid of it. Thought I would hold until the Sanibel steak house is onboard and see if that spurs the price. I'm sitting on UNQT also, can't get rid of it. I have 1,400K in IBCX and am stubborn enough to hold on for the big $$ LOL
I'm with in a day trip distance to the restaurant so I will try it out after May 1...At this point I have to be in Ed's corner....Yeaaa Ed...
 
Posted by mv on :
 
Is this stock dead?Where is everybody?I don't want to get rich alone.Come back please.
 
Posted by unreal33 on :
 
finaly sold out of this junk, at least I have my capital losses for 2006, woohoo!
 
Posted by mikensay on :
 
It's not dead mv just dazed. There have been too many fruitless PR's for acquisitions and share reductions.

May 1 is coming which is the scheduled acquisition date. Only thing that gets me is that they claim 250K-300K in monthly revenue, which is 3M to 3.6M/year.

Anyone else see anything fishy with this? The company buys the place for 900K and expects it to bring in 3M first year? Why would the current owners sell so cheaply???
 
Posted by mv on :
 
Do you guys have any information about Ed'pre-rs 6 bil shares?Does he still own them?
 
Posted by mikensay on :
 
A lot of volume today, to the downside of course. 2.2M shares with 2 hours to go.

Today, should announce the close of latest acquisition.
 
Posted by farmgirl on :
 
This is the only thread I counld find today so if this is the wrong one let me know. WHAT THE HELL just happen to this stock? Mine is doing wierd thing. I have a ton more shares today. Then the price dropped to .007 on my screen. I am confused. Did I miss news?
 
Posted by 401k on :
 
BONITA SPRINGS, Fla.--(BUSINESS WIRE)--May 2, 2006--IBAC Corporation (PINK SHEETS: IBCX - News) announced today that they have formally taken over management/operations of the Bonita Springs Sanibel Steakhouse as of Monday May 1, 2006.
The Bonita Springs Restaurant Group, Inc., a Florida Corporation, will own and operate the property as a wholly owned (100%) subsidiary of IBAC Corporation, the final closing documentation and all related licensing requirements will be completed before the end of the week.
The company anticipates additional revenues to the company from this property to be between $2,500,000 to $3,000,000 per year to the company as the property is located on US 41 adjacent to a major mall now under construction with several other major developments under way within the immediate area.
This is the second property from the Sanibel Steakhouse operation the company has acquired; last year (January) the company acquired the Ft Myers, Florida Sanibel Steakhouse location.
"We are thrilled with this acquisition and the potential considering the explosive growth of Bonita Springs and the immediate Area and look forward to a presence and increased involvement within the community. The company continues to aggressively pursue additional restaurants and hotels within the Florida market," stated Wayne Burmaster, President IBAC Corporation.
 
Posted by mikensay on :
 
This is great news...however, I still don't get how they were able to pay $900,000 for something that should produce 2.5 to 3M a year.
 
Posted by amanick on :
 
This news doesn't impress me at all. In fact I still stand by my statements of a r/s happening.While it is common sense for them to continue on with sanibel the numbers are suspect to me.

Given the fact that no real numbers on thier books are available and they are still doing an audit before otcb leads me to believe they needed press to hang on.

The audit has been taking forever and this leads me to believe that there is more then meets the eye with this company. Having said that I am still long on this good or bad but don't see much happening anytime soon.

my suggestion would be to dump the stock if you cant afford to hold or lose.
 
Posted by NomarKash on :
 
IBAC Corporation Reports April Revenues
Thursday May 4, 8:58 am ET


NEW YORK--(BUSINESS WIRE)--May 4, 2006--IBAC Corporation (Pink Sheets:IBCX - News) today announced revenues for the month of April 2006 of $479,223.59. These revenue figures are compiled from internal company accounting/bookkeeping and are subject to audit/verification by the company's independent accountants/auditors.
ADVERTISEMENT


For the month, the company realized an increase of 28% in revenues over last year for the same period. (The Company did not own the Memphis Days Hotel last year at this time, revenues were based upon previous ownership records.)

The increase in revenues were attributable to a 33% increase in banquet sales at the company's Sanibel - Palms Steakhouse unit and increased room sales at it's Royal Arkansas Hotel unit.

For the first quarter of 2006 the company had revenues of $1,005,189.66 and was in line with projections. The company anticipates continued revenue growth through out and an increase over last year for the second quarter of this year from existing operations, with an additional $200,000.00 to $250,000.00 per month in revenues from the recently acquired Bonita Springs, Florida Sanibel Steakhouse.

The company is generating an approximate profit of 10% -12% on revenues and will be reflected within the release of the company's final audited financial statements, and are subject to final verification by the independent accountants/auditors.

The company is in various stages of negotiations on additional acquisitions to increase revenues further by the middle of the third quarter of this year, information regarding these acquisitions will be announced as they become available.

"We are very pleased with the continued/exceptional growth of Revenues Company wide and look forward to continued growth over the next three quarters; I have set the bar at 10 to 12 million dollars in revenue for this year company wide and fully intend to reach that goal, we are aggressively pursuing additional acquisitions to add revenue while streamlining existing operations and demanding increased volume discounts from our vendors and suppliers company wide as we add new locations, the company is also in the process of interviewing for a purchasing agent to handle all product purchases company wide as to gain greater discounts," said Wayne Burmaster, President 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.


Contact:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations*ibaccorp.com
www.ibaccorp.com

--------------------------------------------------------------------------------
Source: IBAC Corporation
 
Posted by amanick on :
 
Seems like the same press release but nothing substantial. Notice how they keep mentioning audits and additional purchases? this has been the norm for this company to release but yet there is nothing to make this go anywhere till the audit is done and verified.

If they are serious they would retire more shares and get right to taking care of business. I am still going to buy in at dips because I believe in the end I will either break even or leave.

I think at some point we all need to send a strong message to this company by dumping our shares once we break even but do it all at the same time.
 
Posted by mv on :
 
11% profit is not bad.If they can prove it by showing us the audit,the pps will certainly go through the roof.Until then,your guess is as good as mine.
 
Posted by NomarKash on :
 
someone must believe in this PR. the stock is actually moving up.
 
Posted by amanick on :
 
PR's always get other peoples interest. Problem is that it will drop back again. There are way to many shares out to make much of a difference. The only thing to do with this stock is to accumulate at lows and hold if you can afford it. As in my earlier posts I mentioned that for this to get any serious play we would have to eliminate about 100m shares if not more.There are 2 ways to get it either through a buy back or r/s. While its always good to see a positive PR the issue is can we trust it? I suspect not.If these folks are serious about doing the right thing they need to release a VERIFIED AUDIT and use the recent profits to do a major buy back.
 
Posted by mikensay on :
 
NomarKash,

It is going up, but not on high volume. I'd love nothing more than this company getting back to the penny plus but until the audit is finalized and they quit playing games with the PR's I don't see much upward movement.

amanick- wishing for them to fulfill the buy back they pr'd last year. That would be nice, however I doubt it happens. The way they did the r/s and then decided to "reward" the investors with shares. It's too close to manipulation for me.

I think in the long run they make it and s/p increases but I doubt we see much through the summer.
 
Posted by mikensay on :
 
Well then there you go. It's at a penny.
 
Posted by mv on :
 
If the profit can be confirmed by an audit,the price will go through the roof without another rs and buyback.The market cap of the company is less than 2 mil at this time.Revenue last year was 4 mil.This year it may be much more thanks to coming acquisition.IBCX seems to be severely undervalued.
 
Posted by mikensay on :
 
This is all hinged on profitability, right?

If in fact the new acquisition does generate what they anticipate, then there will be a lot more money in the coffers to pay down debt and finance other opportunities.

Here's to hoping for higher highs. But I don't expect it for a bit.
 
Posted by mv on :
 
Ed is the one who controls price movement.When he decides the pps to go to 10cents,he will have the audit released.IBCX has a lot of potential, and a lot of risk,too.At least we know they have real restaurants and hotels and a monthly revenue.Compared to other pinks,this is a much safer bet.
 
Posted by mikensay on :
 
I doubt the audit is any further than initial information gathering.

All my speculation of course, but I don't anticipate the audit and filing to be complete before the end of summer.

I'm curious how the recent, and any subsequent acquisitions, play into the filing if they are acquired during audit.
 
Posted by mv on :
 
The good news is ibcx is not going to go belly up anytime soon.They have a steady stream of income and they don't seem to need any more fund raising though dilution.They even talk about profit openly.What is going on here?Is this a gold mine or what?
 
Posted by mikensay on :
 
Agreed, they won't go bk. But it would really be nice to know where things stand. I'm especially curious about the financing arm from Texas(?) they announced as agreeing to purchase.

I ass-umed that this would be a golden key to allow them to refinance all current leverage into better financing and allow for better income (whatever that is). I figured this would be a slam dunk considering Ed's background.

My wish list consists of:

the company audit complete, filing for otcbb, a stock buy back, and pps to .18 by begininng of fall. I know .18 is a bit far fetched without any acquisitions and buybacks but it's my wish list.
 
Posted by mv on :
 
It is not that far-fetched.The current tepid price is the result of uncertainty and doubt.Last year revenue was 4 mil.Assets are worth 5-10 mil.Market cap is less than 2 mil.It just doesn't add up.If we could confirm the revenue and assets,Market cap would be at least 10 mil.With 10-12% in profit,we might even see 15-20 mil or more.The good news is the potential for gain is huge while the downside is minimal since we are already at the bottom.IBCX will be very interesting in the months ahead.
 
Posted by amanick on :
 
Uncertainty and doubt was created by the company and false PR during the year.There was a reason for that and I am sure it was to get the buy back shares that have alleged to have happened at a cheaper cost.

For one to think that this can not go lower or a r/s wont happen is to think ones at the end of the bottle. I think that we will get a few more flawed PR's then a r/s and then an audit which may or may not support what they have been trying to accomplish all along.Having said that everything with this company is suspect and should remain so.

If you can't afford to loose it sell off and find a better bet.I am thinking maybe next year we might see anything worth while.
 
Posted by NomarKash on :
 
IBAC Corporation's Memphis Airport/Graceland Days Hotel Unit Executes Agreement with Corporate Lodging Consultants
Tuesday May 9, 8:51 am ET


MEMPHIS, Tenn.--(BUSINESS WIRE)--May 9, 2006--IBAC Corporation (PINK SHEETS: IBCX - News) announced today that their Memphis Airport/Graceland Days Hotel Unit has reached an agreement/contract with Corporate Lodging Consultants of Wichita. Kansas.
ADVERTISEMENT


The agreement/contract with Corporate Lodging Consultants will provide the Memphis Airport/Graceland Days Hotel unit with a guaranteed stream of business from their clients, Fedex Freight, Yellow Freight, Roadway, ABF, Estes, Saia, United Airlines and Continental Airlines.

The company (IBAC) has estimated said agreement to be worth $50,000.00 to $60,000.00 per month or $500,000.00 to $600,000.00 per year in additional income to the property, In addition to the additional room revenues the company estimates an additional $8,000.00 to $9,000.00 per month in revenue to the on site restaurant or $96,000.00 to $108,000.00 per year.

"We would like to thank Ms. Janet Middleton manager of the Memphis Airport/Graceland property for her hard work and aggressive pursuit of this contract, Thank you Janet we are thrilled with the execution of this contract and the revenue that comes along with it. The company continues to improve its properties asset values and revenues as we strengthen the company financially." stated Wayne Burmaster, President IBAC Corporation

About Corporate Lodging Consultants:

The recognized leader in business lodging services.

For over 25 years, Corporate Lodging Consultants has been the leading provider of customized lodging programs to businesses. Today, CLC is the largest lodging management service provider in North America and one of the world's largest managers of hotel room purchases. CLC's team of lodging experts has established relationships with approximately 11,500 hotels across North America - which equates to nearly one out of every four hotels. Clients use CLC to purchase more than seven million room nights annually. www.corplodging.com/index.cfm

About IBAC Corporation:

IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hotel, Food Service & Restaurant industries. IBAC now has operations in Florida, Tennessee & Arkansas. For more information, please visit: www.ibaccorp.com

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "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, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.


Contact:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations*ibaccorp.com
www.ibaccorp.com

--------------------------------------------------------------------------------
Source: IBAC Corporation
 
Posted by mikensay on :
 
If this is the case, I believe this facility has 127 rooms. At a rate of $69 a night, this would equate to an increase of 25 rooms a night every night. Seems to be a pretty hefty contract.
 
Posted by Bigrod40 on :
 
[Big Grin] [Big Grin] News....and I love this statement.. "I have been told by our auditors that we will have audited financials by the end of the month, I can assure our loyal shareholders if that doesn't happen the auditors will be discharged and we will replace them with a firm who can/will perform as we expect, results".

Here is PR...

IBAC Corporation Signs with Gottesman Company to Assist With Locating Additional Acquisitions
5/11/2006

NEW YORK, May 11, 2006 (BUSINESS WIRE) --
IBAC Corporation (PINK SHEETS: IBCX) today announced that it has signed with Gottesman Company of New York to assist with locating additional acquisitions for the company.

The non-exclusive agreement/contract with IBAC gives the company an additional set of eyes for potential acquisitions, the company is intent on increasing revenues and assets through acquisitions or mergers on a fast track basis and feels with the addition of Gottesman to the team, a proven leader in the field of mergers/acquisitions that it will help accelerate the company's objectives.

"I am extremely excited to have been able to add the Gottesman Company to our team, this exciting news comes on top of us adding a new property to our portfolio last week, and this is truly very exciting times right now for our company as we continue to grow revenues and assets. I have been told by our auditors that we will have audited financials by the end of the month, I can assure our loyal shareholders if that doesn't happen the auditors will be discharged and we will replace them with a firm who can/will perform as we expect, results. I accepted this position with full assurances and autonomy from the CEO Mr. Edward W Hayter, he said he would give me a few simple rules and objectives, they were, "build a great company do the right thing for the shareholders" and that's what I intend to do, the share structure remains the same, to this point Mr. Edward W Hayter has backed me with several million dollars in this company and has assured me that he will invest several millions more for reasonable acquisitions." stated Wayne Burmaster, President IBAC Corporation

About Gottesman Company:

Gottesman Company is a member of the International Business Brokers Association, the New York Association of Business Brokers and M&A Source as well as the Better Business Bureau. We act as Independent Business Transaction Intermediaries serving both Buyers and Sellers, specializing in the Mergers & Acquisitions of businesses in the mid-market arena, nationally and internationally. Business Transfers, Selling of Businesses, acting as Finders - all fall within our province. We also work with Cooperating Intermediaries and Investment Bankers nationwide as well as in Latin America, Europe and Asia. www.gottesman-company.com
 
Posted by NomarKash on :
 
Yeah - that's probably the plan all along. "these guys didnt do the job right, now its time to hire a new crew and fire them a year later". I hate Ed.
 
Posted by mikensay on :
 
That's exactly what I was thinking. One more way to push things off.

I hope the financials do come out by month end and they do apply for otcbb but sayint they'll hold the auditors accountable and fire them if it's not done only tells me they're playing a game. I would have accepted just the statement that they are hopeful to have the audit done by months end, but to go that much further is a bit strange. (or normal for pinkies)
 
Posted by mikensay on :
 
Wow! There's nothing like watching this thing tank.

Kind of like an orange glow over your house as you watch the biggest campfire you've ever made engulf your under insured estate.
 
Posted by mikensay on :
 
IBAC Corporation Agrees to Buyout the Minority Partner of Its Sanibel-Palms Steakhouse and Opens Negotiations to Acquire the Sanibel Steakhouse in Naples, Florida
IBAC Corporation (PINK SHEETS: IBCX) announced today that they have agreed to a buyout of its minority partner in its Sanibel-Palms Steakhouse in Ft Myers, Florida and has opened negotiations to acquire the Sanibel Steakhouse in Naples, Florida.

The company has decided that a buyout of its minority partner in the Ft Myers Sanibel-Palms Steakhouse is in the best interest of the company, the buyout when completed will give the company a 100% wholly owned interest in the property (the buyout is expected to be completed within the week) the transaction will give the company 100% control of said property and its recently acquired Sanibel Steakhouse in Bonita Springs, thus giving the company wholly owned status of both properties, as it builds its position in Florida.

The Company has begun negotiations to acquire the Sanibel Steakhouse in Naples, Florida if successful that will give the company three operating entities on the west coast of Florida with revenues of 7.5 Million to 9.0 Million per year, it is the company's intent to have at least 10 properties in Florida as it grows its holdings, the company has also identified other acquisitions and are in various stages of negotiations.

The Company has not issued any additional shares nor will it increase the authorized shares to achieve these goals, all monies for these efforts have come from operating revenues of the company and interest free loans from its CEO, Edward W Hayter.

"It has been brought to my attention that certain shareholders believe that the company raised 5 Million Dollars in capital. Let me explain, the company filed a Regdex/504 filing in 2004 and that's it. Per SEC regulations the company is allowed to sell/raise capital of only 1 Million Dollars per year under that rule. The company raised 1 Million Dollars and that was it, all other monies came from the CEO as interest free loans (around 4 Million Dollars), as the goal is to build a Major company with real revenues and real assets. At this point the company has over 150 employees and revenues last year of 4.5 Million Dollars (estimated) and the company has not filed for anymore Regdex/504 filings and it does not intend to, as it is the intent of the company to acquire more businesses and increase revenues. The company also intends to move to the OTCBB at a minimum and become a major business, my point come aboard or jump ship," said Wayne Burmaster, President, IBAC Corporation. "Mr. Burmaster stated that it is his intent to control 100% of the company's investments/assets and that is his objective."
 
Posted by casviper on :
 
Someone has to be doing something behind the scenes. This stock should not be doing so badly.
 
Posted by mikensay on :
 
The problem I see is that they are just on the cusp of being transparent. If they indicated the percentage they are buying and the amount it will cost, then I'd feel that there aren't any mickey mouse games going on.

Nice to see PR's that are not fluff, though. If only we could see a pr that brings the s/p up back into penny land (without a r/s, that is)
 
Posted by BchOus on :
 
They did say the buyout will be 100% they just didn't say how much it would cost. I thought they already owned a portion of this restaurant???
 
Posted by mikensay on :
 
Yes they have owned a portion, I believe a controlling portion, but I don't recall ever seeing what percentage they own.

Yes, the PR clearly states they will now own 100%. The question is how much percentage is/was outstanding and how much did it cost the company.

Don't get me wrong, this is good news for us and maybe this was done to make going to otcbb easier. However, the company conveniently leaves out obvious information that investors want to know.
 
Posted by moosehead9nc on :
 
this is starting to go back up
 
Posted by NomarKash on :
 
i think there are 4 actual sanibel steakhouse. this is not the same property as bonita (at least i dont think it is). this looks like the property in naples.
 
Posted by mikensay on :
 
They are saying two things.
First, they are buying the remaining stake in Ft. Meyers

Second, opening discussions for the Naples location.
 
Posted by NomarKash on :
 
you're right mike. i didnt read the PR very closely.
 
Posted by NomarKash on :
 
Anyone see this on IBAC's website?

To all of our Shareholders,

As you are aware the company has been in the process for a lengthy period of time performing the required two years of audits to solidify the company and its subsidiaries finances and assets along with the pre requisite to becoming a fully reporting OTCBB Company, this process along with the daily operations of the business is a daunting task to say the least, yet we have been pursuing this objective relentlessly as we strive towards our stated goal of becoming a fully reporting company.

The purpose of this Audit Progress & Update page is to keep our shareholders apprised of the ongoing progress and to update the progress as it occurs, the company realizes that it has taken an extraordinarily long period of time and it has been extremely frustrating for the shareholders as well as management, we will not be deterred and intend on a successful completion of the audited financial statements within the near future.

Below you will find links to pertinent information regarding the status and progress of the company’s audits; we look forward to the successful completion of our move to the OTCBB.

Sincerely,

Edward W Hayter
Chairman & CEO
IBAC Corporation
Wayne Burmaster
President & COO
IBAC Corporation
 
Posted by mikensay on :
 
Below that are two dated PDF's. I believe they have been posted here before several pages back. You'll note they haven't added anything since April 4th. However, in one of the last PR's they indicated that they hoped to have the audit done by end of this month.

This doesn't mean they'll apply to otcbb, this means they'll get the audit back, review it and determine if applying at this time makes sense or not.
 
Posted by mikensay on :
 
Take a look at the website. Apparently, they've broken some rules for linking to quote media.
 
Posted by NomarKash on :
 
ha - thats fitting!
 
Posted by mikensay on :
 
So we're nearing the end of the month. If they announce a completed audit, things will look brighter. If not and announce a new auditor, watch how quickly the floor crumbles.

Here's to hoping.
 
Posted by pennys4themoney on :
 
quote:
Originally posted by NomarKash:
i think there are 4 actual sanibel steakhouse. this is not the same property as bonita (at least i dont think it is). this looks like the property in naples.

I live in the area and have eaten at Sanibel Steakhouse and for the price of the food, it wasn't that great. I would never go back or recomend it.
 
Posted by amanick on :
 
it cant be all that bad
 
Posted by mikensay on :
 
Amanick,

You still buying on the dips?

Questions that come to mind:

Why haven't they given a monthly status report like they usually do?

Where's the audit? They actually e-mailed me today or yesterday and said that it's still not done, they're as frustrated as the shareholders and they're hopeful to have it soon.

Whatever happened to the Texas acquisition?

Are they buying back shares at these low prices? That and the audit would be nice to see.

[ June 09, 2006, 19:15: Message edited by: mikensay ]
 
Posted by amanick on :
 
I bought last week on the dip. That was my last buy on this stock.

The reason I suspect for no monthly report is that they have actually ran out of lies to tell. It's hard to lie on a constant baises with out rehashing old news which we already know about.

It's ashamed they are just as frustrated as thier shareholders with the audit ! I thought the firing was to have happened last month? So they should be embarresed by the lack of audit and thier business clout to have such a minor task completed.

I personaly dont see this stock becomming a major player in the markets anytime soon if ever. I do still believe that we will profit a bit in the long run. I still believe we will have another r/s regardless of what they say.

This company knows that we all know that what they say is worth about as much as this stock. In either event im in for the long haul. if you can afford to loose it I'd suggest dumping at all costs cause the next picture isnt going to be so pretty.
 
Posted by mv on :
 
What would happen to the price if we have the audit in the next few months?anybody cares to guess?
 
Posted by mikensay on :
 
MV.

Depending on the audit of course this thing could start a drive towards a nickle.

Here's my view. Why would they even try for an audit if they didn't think there was a good shot to be able to get on the OTCBB??? So, with that thought this is a good thing and we will be rewarded with additional investor interest as we cross that bridge.

However, I'm frustrated with them and their lack of honesty and follow through on their PR's. I know they disclaim any need to address changes in their PR's, but in my mind this is a first step to transparancy.
 
Posted by amanick on :
 
you wil only see a nickle after a reverse split. By then most of what you own will be worth just that.
 
Posted by NomarKash on :
 
IBAC Corporation Completes Buyout of Minority Partner in The Sanibel Restaurant Group, Inc. and Other Pertinent Corporate Information
Thursday June 22, 12:59 pm ET


NEW YORK--(BUSINESS WIRE)--June 22, 2006--IBAC Corporation (PINK SHEETS: IBCX - News) today announced the completion of the buyout of its minority partner of the Sanibel Restaurant Group, Inc. and other significant corporate information.
ADVERTISEMENT


The company has completed the acquisition of the 49% minority interest in the Sanibel Restaurant Group, Inc that it did not own, and it is now negotiating to acquire the 49% of the hotel in Memphis that it does not own, the company expects that deal to be completed shortly.

That will leave the company with 100% ownership of The Sanibel Restaurant Group and the Bonita Springs Restaurant Group and the Memphis Hotel, only leaving a minority partner in the Arkansas property.

The company reports revenues of $644,130.32 for the month of May, and anticipates increased revenues for June.

The Company is in the final stages of adding 10 million dollars (a acquisition) per year of revenue to its balance sheet with the acquisition soon to be closed.

The Company has not yet received completed audits as promised from its auditors, the Company is stuck between a rock and a hard stone as if they fire the current auditors for lack of performance, they will have to start from scratch and that would be far worst than where they are now, so management is resigned to ride out its current auditors and pound them for results opposed to a change and starting over.

"The Company is alive and well and we intend to fulfill our dreams and aspirations regardless of what it takes, the company has real assets, real employees (over 150) and real revenues and we regardless of any obstacle expect to be trading at least on the otcbb, we are discouraged that we don't have our audited financial statements yet, but we will prevail onwards and upwards." Said Wayne Burmaster President IBAC Corporation.

IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hotel, Food Service & Restaurant industries. IBAC now has operations in Florida, Tennessee & Arkansas. For more information, please visit: www.ibaccorp.com.

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "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, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.


Contact:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations*ibaccorp.com
www.ibaccorp.com

--------------------------------------------------------------------------------
Source: IBAC Corporation
 
Posted by NomarKash on :
 
The Company has not yet received completed audits as promised from its auditors, the Company is stuck between a rock and a hard stone as if they fire the current auditors for lack of performance, they will have to start from scratch and that would be far worst than where they are now, so management is resigned to ride out its current auditors and pound them for results opposed to a change and starting over.

Horrible English - Wayne better learn to write a little better.

What a shock - no audit!
 
Posted by mikensay on :
 
Yeah, I just love when a PR hasn't been given the once over.

But they're alive.....

Did everyone else know about all the other minority stakes in each of the other companies? Or am I the loan idiot?
 
Posted by mikensay on :
 
Any idea what this means???


The Company is in the final stages of adding 10 million dollars (a acquisition) per year of revenue to its balance sheet with the acquisition soon to be closed.
 
Posted by NomarKash on :
 
i never knew that they didnt own the whole memphis property. these things were never discussed in any of the PRs discussing the purchase. more shady moves from our friends at IBAC.
 
Posted by mv on :
 
At least we know Ibac is still alive.They seems to have problem with the audit.I don't believe they lie to us.They must complete the audit for the stock to move up.Until then,we are in the wait mode and not much will happen.
 
Posted by Allen on :
 
Is the audit really going to be out tomorrow?
 
Posted by Intimatrader on :
 
Good question .

Someone please answer that . [Roll Eyes]

And what could the audit results mean for the stock price ....Someone with big brain please answer us . [Big Grin]
 
Posted by mikensay on :
 
Where did you hear the audit will be out tomorrow?

It all depends upon what the audit reveals. I'm not expecting much. We just found out that the company doesn't own 100% of the properties they purchased. This whole time they neglected to mention that when the purchased these properties, they only picked up 51%. Oops, sorry shareholders, we didn't know you were interested in this little detail.

If the audit is good, I'd be surprised if we got to a penny.
 
Posted by mv on :
 
They did let us know about ownership in their pr's.As for audit,it may boost the pps substantially if the company really makes 10% profit as they claimed.For now,we wait.
 
Posted by mv on :
 
Hi.Did you guys have a good July 4?
 
Posted by mikensay on :
 
MV The 4th was great. Got to spend time with my family. Something I don't do enough of.

Has anyone contacted the company to find out about the audit progress???

I've e-mailed about audit and the monthly revenue but haven't heard anything back.
 
Posted by mv on :
 
this stock is so boring.
 
Posted by mikensay on :
 
You're kidding, right. I mean where else can go and get a ride that is in a continous dive for so long?

However I still think/wish they have a good shot if they would just perform a bit more openly.
Here's my wish, again:

1) Get back to reporting monthly numbers earlier in the month, consistently
2) Update the website. Specifically the management page (how long will Wayne's profile be listed as 'being updated'?)
Update the progress and have some sort of communication from ED on his spot. (I have to admit though the fact that he added this to the site and rarely adds info to it is classic for a CEO that is in growth phase. Produce so many thoughts and never really get around to keeping them consistent. I know I'd fall into that same trap. A.D.D. at it's finest.

3)How about the audit progress. If they're so irritated, they should have the pressure on the auditors and should also be inclined to update the progress on the website. If nothing else but to say, 'It's still not complete but we're getting closer' This would let us know that in fact they are on top of it.

4) Continue to buy back shares. To me this is a no brainer at this price level. They could easily buy back a couple million shares each month and retire them. I know, why take on more risk.
 
Posted by NomarKash on :
 
Think Wayne will actually answer our emails? Again this PR is horribly written with lots of grammatical errors.

IBAC Corporation Reports June Revenues and Responds to Shareholder Inquiries
Tuesday July 25, 9:01 am ET

NEW YORK--(BUSINESS WIRE)--July 25, 2006--IBAC Corporation (PINK SHEETS: IBCX - News) today reported revenues for the month of June of $702,246.87 these revenue figures are based upon internal records and have not been verified by the company's independent accountants and auditors.
ADVERTISEMENT


The company has had several inquiries regarding the current share structure of the company; it has not changed and is as stated on the company website www.ibaccorp.com under corporate info. The company has not filed for any new 504/Reg D to increase the share structure or to sell any new shares into the market; this also can be verified at www.sec.gov.

The company has still not completed its Financial Statements due to a combination of reasons, we are working with our current auditors to get them done, we have set a definitive dead line and if they are not completed we have a back up plan that we will implement by the end of the month.

The company continues to look at additional acquisitions and additional ways to increase revenues as we have not lost sight of our plans of becoming a fully reporting company with significant revenues and assets.

All of the stated assets of the company are real with title being held in the company's subsidiaries names and are all a matter of public record within the States we operate Arkansas, Tennessee and Florida, The Company provides employment for over 150 people that work at our properties, work with pride and management appreciates their loyalty and hard work.

Over the past month or so the company has made extensive improvements to its Memphis Hotel property thus increasing its value to approximately 4.8 to 5.2 Million Dollars a significant gain in equity considering we purchased the property for 1.9 Million about a year ago. We are also spending monies for improvements at our other locations thus enhancing there equity also.

"The Company is alive and well and we intend to fulfill our dreams and aspirations regardless of what it takes, the company has real assets, real employees and real revenues and regardless of any obstacle we expect to achieve our goals, we are discouraged that our audited financial statements are not yet done, but we will prevail and get them done," said Wayne Burmaster, President, IBAC Corporation.

Mr. Burmaster also stated, "we are still here doing business and are not going away, we will achieve our stated goals regardless of time or hurdles put before us, if any shareholder wants to speak regarding questions or concerns please feel free to contact me at my personal email: w.burmaster*ibaccorp.com and I will answer you as soon as I can."

IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hotel, Food Service & Restaurant industries. IBAC now has operations in Florida, Tennessee & Arkansas. For more information, please visit: www.ibaccorp.com.

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "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, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.


Contact:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations*ibaccorp.com
www.ibaccorp.com

--------------------------------------------------------------------------------
Source: IBAC Corporation
 
Posted by TalonSin on :
 
" The company has still not completed its Financial Statements due to a combination of reasons, we are working with our current auditors to get them done, we have set a definitive dead line and if they are not completed we have a back up plan that we will implement by the end of the month ."

Here is my prediction... End of the month they announce the current auditors have been let go and they are looking for new auditors. New auditors will be delayed because the old auditors messed up all the paperwork and the new guys have to start back at the beginning.

My gut feeling is this audit is all lip service. If any of you email Mr. Burmaster please post and let us know. I am curious to see how many emails go unanswered. I will email him today myself but I dont expect a reply...
 
Posted by TalonSin on :
 
I just called the auditors and left a voicemail with one of them. I am interested in their side of the story...
 
Posted by NomarKash on :
 
IBAC Corporation Reaches an Agreement to Buyout its Minority Partner in the Memphis Airport Days Hotel/Graceland
Thursday July 27, 8:49 am ET


NEW YORK--(BUSINESS WIRE)--July 27, 2006--IBAC Corporation (PINK SHEETS: IBCX - News) today announced that they have reached an agreement to acquire the 49% minority interest in the Memphis Airport Days Hotel/Graceland that it does not own from its minority partners. The company expects the deal to be completed within the next thirty days baring any legal complications.
ADVERTISEMENT





The company has recently spent upwards of $200,000.00 in required improvements to the Memphis property that included new air conditioners, new Days Hotel Signs, new perimeter fencing, roofing, panting and furniture.

The company just recently completed the acquisition of the 49% minority interest that it didn't own in the Sanibel Restaurant Group.

That will leave the company with 100% ownership of The Sanibel Restaurant Group and the Bonita Springs Restaurant Group and the Memphis Airport Days Hotel/Graceland, leaving only a 49% minority partner in the Royal Arkansas Hotel & Suites property.

"The company's strategy going forward is to control 100% ownership of all its properties thus strengthening its balance sheets, with complete control over cash flows and 100% of the equity in the properties. The company has also looked at other properties for acquisition and will be submitting proposals for them within the next few weeks," said Wayne Burmaster, President & COO, IBAC Corporation.

IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hotel, Food Service & Restaurant industries. IBAC now has operations in Florida, Tennessee & Arkansas. For more information, please visit: www.ibaccorp.com.

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "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, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.


Contact:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations*ibaccorp.com
www.ibaccorp.com

--------------------------------------------------------------------------------
Source: IBAC Corporation
 
Posted by mikensay on :
 
Sure would be nice to know the dollar amount the company is paying as well as who the minority partners are. I'm suspicous it might be Eddie.

Also, look at the last 2 PR's. The company used approx. 200k for repairs and enhancements to Memphis and say that the value of memphis has been increased to 4.8M up from 1.9M. I'd like to get on that band wagon. Maybe if I put in 10K in improvements to my 300K house, I'll see an equity increase to 550K. Something is not quite right.
 
Posted by 4Tune4Me on :
 
IBCX, formerly ICAN, has seriously kicked investors when they were down...do some major DD before investing/daytrading this one. They've been releasing an audit for over a year now, maybe year and 1/2 already...do not hold your breath...
 
Posted by TalonSin on :
 
I have not gotten any reply from the auditor (Neal Levine) or Wayne Burmaster. I doubt I ever will. I still predict a PR saying they have to start the audit all over again.

Vague PR's, not returning stockholder calls or emails, disgruntled employees posting shocking stuff about them (www.ibacnews.com) and a stock price down over 85% in one year while they continue to say they are buying new assets. It all adds up to SCAM.

Allow me to paint my opinion... Ed starts the company and makes himself minor partner in all purchases. He buys some property like the hotel for 1.2 million. Ed pays 600k of his own money to be the minor partner. The company pays 200k for improvments and then they say the value is now 4.8 million. Ed then buys himself out at 49% of the new inflated property value and takes home 2.4 million. Ed realizes he needs a patsy so they bring in Wayne B to be the bad guy. Things look good under Wayne for a bit and then things start to go south. Ed escapes with his millions free and clear and is free to start a new holding company and do it all over again. again, just my opinion...
 
Posted by mikensay on :
 
Talon,

That's exactly what I was thinking yesterday. Only, I'm curious if Wayne even exists. We don't know his credentials and there's no bio of him on the website.

However, I even question this theory. I know the audit firm is real and can't imagine there to be a conspiracy between them. Time will tell.

They did say, although unclearly, that they have made an agreement to get the audit done and if it's not done by the end of the month they have a contigency plan. So, we'll soon see what the deal is.

Here's to hoping that we get back to a penny.
 
Posted by NomarKash on :
 
Good point, "Wayne Burmaster" even sounds like a made up name.
 
Posted by mikensay on :
 
Talon,

Checked out the website. I've been here before many months ago, but it doesn't appear to have any links to the stories. This seems to be a dead site.
 
Posted by TalonSin on :
 
There is talk over at investors hub that the auditor (levine) was also involved in another stock that went to court but he quit right before it went that far.

Here is the quote:
"he was the auditor for CMKX that resigned just prior to the hearing"

Anyone have any info about what happened to CMKX?
 
Posted by mikensay on :
 
C-rap. I believe CMKX was a diamond company that virtually ripped all investors off. If memory serves (which is usually on vacation) they diluted pretty heavily, but also they kept up with a similar tatic of pr'ing that they were going through audit to be a fully reporting company.... Anyone care to confirm this. I believe I'm right but please don't take my word for it, verify, check and double check.
 
Posted by mikensay on :
 
best volume and price I've seen in months. Hopefully this is an indicator of a bright future.
 
Posted by mv on :
 
In just a few days,the pps jumps 100%.If ibcx is a scam,why don't they just keep on diluting?Instead,they haven't sold any shares for a whole year and they have generated revenue enough to sustain the company without borrowing more money.If they are a scam,they can simply ignore us.What disappoints me about this company is the audit.However,if they can come up with a decent one and a move to otcbb,the pps will jump anywhere from 10 to 100 times.
 
Posted by TalonSin on :
 
How do you know they have not sold any shares? How do you know they have not borrowed money? You say if they are a scam they can simply ignore us and yet they are ignoring us. I have not had an answer to any of my calls or emails.

It is past the end of July and yet no PR telling us what the plan was if the audit was not done at the end of the month. I dont know about you but I feel my concerns are being ignored.
 
Posted by NomarKash on :
 
I'm so bored with IBAC - if the PPS gets back to my break-even point of .013 im out. Lets go - keep up these 25% gains per day!
 
Posted by mikensay on :
 
There you go Nomar.

I'm not bored just irritated. The increase in the last few days tells me either something has to be going on or someone is bidding up the price for a dump.

Hoping for an unbelieveable audit.
 
Posted by TalonSin on :
 
It sure is running well for just one million in volume
 
Posted by rickpic on :
 
what the frig is going on with this stock! My investment is up 120% in three days! Is the audit comig or what?????
 
Posted by NomarKash on :
 
This is the most action this thread and stock price has seen in 2006!
 
Posted by Hitman on :
 
Just sold all 30000 shares at .01 made $90 May hv sold to erly didnt expect it to run the time i put the sell order in.... It sold so fast I was in shock
 
Posted by skip on :
 
I have been in this since march of 2005...my first stock purchase actually...I keep it mainly for the sentimental value...great to see it up a little bit...
 
Posted by Hitman on :
 
May be something up.... I had the sell order in for 30000 at .0085 and scottrade sold it for .01
Never had that to happen b4...
 
Posted by TalonSin on :
 
Starting to back down a bit, could be a group play.
 
Posted by rickpic on :
 
its a very small group play if thats the case! lol
 
Posted by TalonSin on :
 
Bid at .009 now

(there could be a small group... LOL)
[Smile]
 
Posted by mikensay on :
 
If so, there must not be that many shares on the float.
 
Posted by TalonSin on :
 
price down to .009 and bid down to .008
 
Posted by mv on :
 
you are right.Everybody is holding on to their shares including myself.I have a feeling something very positive is going to happen.
 
Posted by mikensay on :
 
Sent e-mail to investor relations this morning when it hit .01 and just got a response, which is good in of itself, but they said they could only tell me that good things are happening.


There is life.
 
Posted by mikensay on :
 
Sent e-mail to investor relations this morning when it hit .01 and just got a response, which is good in of itself, but they said they could only tell me that good things are happening.


There is life.
 
Posted by mv on :
 
I wish I bought more when it was at 0.004.It hit 0.012 yesterday,a 300% increase.This is the kind of action we want to see.This is just the beginning.Stock like this one can jump 10 times or more.I believe when the audit is released,we will see 5 cents or more.
 
Posted by mv on :
 
Good news.I asked Burmaster about ED'ownership.He said in an email that Ed owned more than 50% of the outstanding shares.That means the shares that float out there are limited,less than 90 mil shares.
 
Posted by NomarKash on :
 
This stock takes so long to wake up each morning.
 
Posted by NomarKash on :
 
quote:
Originally posted by mv:
Good news.I asked Burmaster about ED'ownership.He said in an email that Ed owned more than 50% of the outstanding shares.That means the shares that float out there are limited,less than 90 mil shares.

Wow you actually got a response from Wayne? I've never gotten that far.
 
Posted by mv on :
 
I got the answer just yesterday.Burmaster seems to be trustworthy.
 
Posted by TalonSin on :
 
Has anyone else gotten a reply from Wayne recently or is MV really lucky??? I have emailed him twice in the last 4 weeks and gotten no replys.
 
Posted by TalonSin on :
 
From the January 3rd PR...

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.

He sure was a bit off on those calculations...
 
Posted by TalonSin on :
 
From Feb 9th 2005 PR...

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.


In has been a year and a half since they started PR-ing the audit. Seems odd that on the website the PDF file from the auditor shows it wasnt until Feb 5th 2006 that an agreement was made with an auditor. How can they be in the "initial stages" of an audit without having an auditor for a year???
 
Posted by TalonSin on :
 
As you can tell I'm just sitting here bored...
 
Posted by mikensay on :
 
short lived I guess. Is it that a PR was expected on that run and when it didn't happen it dropped back down? I really don't know what to expect when we see action like this.


quote:
Originally posted by mikensay:
Sent e-mail to investor relations this morning when it hit .01 and just got a response, which is good in of itself, but they said they could only tell me that good things are happening.


There is life.


 
Posted by mikensay on :
 
August 07, 2006 09:46:25 (ET)


NEW YORK, Aug 07, 2006 (BUSINESS WIRE) -- IBAC Corporation (PINKSHEETS:IBCX) Chairman, Edward W Hayter, announced today that IBAC Corporation has agreed to sell all of its shares of The Royal Arkansas Hotel & Suites Inc. to its minority partner International Hotel Management for $2.5 million dollars.

Mr. Wayne Burmaster President of IBAC Corporation said, "We have confidence in the long-term goals for the business, we will use this windfall to the company's advantage either with a share buyback or investment in other assets.

Mr. Burmaster added, "The Royal Arkansas Hotel & Suites is an excellent company and we have enjoyed our relationship with it, the company paid 1.1 Million Dollars for its 51% interest in 2004 so the windfall (Profit) of 1.4 Million Dollars in less than two years represents an exceptional profit."

The transaction, which is subject the customary normal closing conditions, including attorney approval, is expected to close within the next 30 day's.

The company in attempts to fortify its balance sheets considers this move as a positive step, as now the company will own all its properties 100% with no partners, and will allow the company to grow accordingly.

IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hotel, Food Service & Restaurant industries. IBAC now has operations in Florida, Tennessee & Arkansas. For more information, please visit: www.ibaccorp.com.

Forward-Looking Statements
 
Posted by mikensay on :
 
Took a dip down to .006 and now at .0085

I hope they use 500K to buy back shares. Even at a penny that gets us 50M off the books.

[ August 07, 2006, 11:43: Message edited by: mikensay ]
 
Posted by mv on :
 
Guys,we may be sitting on a gold mine without knowing it.With 1.4 mil in cash and other assets,this company is worth at least 5-10 mil.At this time,the market cap is just 1.5 mil.Are we missing something?
 
Posted by mikensay on :
 
I do think the company is undervalued but the problem is the company has been saying they're going through an audit for over a year now. That and not knowing where the company debt is, is an issue for me. (don't forget the R/S a few months back)

I'm hopeful to see some major progress soon. If they buy back and produce the audit then we move well over the penny.
 
Posted by NomarKash on :
 
They may never have planned to own and keep the Royal Arkansas - especially since they never even created a website for the property. It's been under contruction for as long as they've owned it.
 
Posted by mikensay on :
 
Does that go for Wayne Burmaster too???

Couldn't resist

[ August 08, 2006, 11:20: Message edited by: mikensay ]
 
Posted by mikensay on :
 
Nice volume today. Now if we could just get over the .009 price and stay above.
 
Posted by mv on :
 
Strange.Some people are buying everything under 0.008.Probably they know the audit is coming.With a profit of at least 1.4 mil from the sale of the royal Arkansas,the audit must look good.With a good audit,they will file for otcbb or even nasdaq small cap.I can't imagine how high the pps will be at that time.Ibac will be the success story in the whole wide pinkyland and everybody wants a piece of it.
 
Posted by NomarKash on :
 
10 days of silence. needed to post something. .0095 - maybe a penny tomorrow?
 
Posted by mv on :
 
When the audit is out,we will see 0.09.
 
Posted by NomarKash on :
 
quote:
Originally posted by mv:
When the audit is out,we will see 0.09.

Yeah and we will be lucky to see the audit by 2009!
 
Posted by jon clogger on :
 
Hey NomarKash, we saw .088 today on a fatfinger, does that count? Close to .09
 
Posted by NomarKash on :
 
another .088 fat finger today. but at least we may close about a cent.
 
Posted by casviper on :
 
what is causing this movement???
 
Posted by mv on :
 
IBCX is on its way to 5 cents.There is no news to justify the big jump today.Somebody must know something behind the scene.The buying has been on consistently for many days without news.
 
Posted by NomarKash on :
 
quote:
Originally posted by mv:
IBCX is on its way to 5 cents.There is no news to justify the big jump today.Somebody must know something behind the scene.The buying has been on consistently for many days without news.

I don't think there is considerable buying going on. Over the last week the volume averages less than a million shares. I don't know why the price spiked over a penny. Maybe news is on the way but I'm not getting overly excited over this small volume.

Date Open High Low Close Volume Change Change %
8/29/06 0.088 0.088 0.0085 0.012 2,597,302 0.003 33.33%
8/28/06 0.008 0.088 0.0075 0.009 709,953 0.001 12.50%
8/25/06 0.008 0.008 0.008 0.008 267,344 0.001 -11.11%
8/24/06 0.009 0.009 0.008 0.009 167,010 0.0005 -5.26%
8/23/06 0.009 0.0095 0.0085 0.0095 155,963 – –
8/22/06 0.008 0.0095 0.008 0.0095 3,841,615 0.0005 5.56%
 
Posted by mikensay on :
 
Let's hope that two things are going on, First, a positive audit is ready to be produced, and second, the company is buying back and retiring a few shares every day.

I'd like to see the shares in a steady decline from 188M.
 
Posted by amanick on :
 
It's called manipulation before a r/s
 
Posted by casviper on :
 
A reverse split would tank this thing. We already had a reverse split which was follow with a stock dividend. The end result is we are back to were it was selling before the reverse split. The only thing that will get this thing moving will be an audit, which we have been promised for year now. A reverse split will most likely end up with complaints filed against the company with the SEC, which would be valid, and probably lawsuits.
 
Posted by Borknagar on :
 
de donde eres casviper?porque he visto en el foro de GZFX que hablas espańol
 
Posted by casviper on :
 
Soy de Danbury Connecticut.
 
Posted by mikensay on :
 
Today's the day for the sale of Royal Arkansas Hotel.

Will there be a PR for this? If so, I'm sure there will be other things in the PR that leave room for the usual speculation.
 
Posted by mikensay on :
 
Bump.....

Still no news, but volume is looking better.
 
Posted by mikensay on :
 
Received this tonight.....


Dear Mike,



We are working on a new and improved website with more detailed information and the audits are closer than ever, I know its been a long drawn out issue but there is a lot involved.



Regards,

Investor Relations
 
Posted by casviper on :
 
are they joking about being a long drawn out issue, since the audit began we've removed one planet and added three more...LOL
 
Posted by mikensay on :
 
Good one.

I just hope they are seriously considering a share buy back with the "windfall" profits they just made.

That and a positive audit will make me look a hell of a lot better.
 
Posted by NomarKash on :
 
45 minutes left in the trading day and zero volume. fun.
 
Posted by mikensay on :
 
Volume is starting to pick back up. Lots of little transactions though. So I doubt the company is buying back anything.

Hoping for a PR on the Audit and sale of the Royal Arkansas sometime this week.
 
Posted by amanick on :
 
Nope they arent buying anything and I dont think they will at this point. About the only card they have left to play is a r/s or manipulate the stock price
 
Posted by casviper on :
 
another reverse split would kill the pps. it would be the last straw for those of us who are long with this one. we have already gone through a R/S and received a small stock dividend. but another R/S would surely send some to the SEC for an investigation.
 
Posted by mikensay on :
 
I've been sending e-mails for some time to the "investor relations" Which isn't so much...

I get a response about one time out of ten e-mails.

Anyone else sending mail? Getting response?
 
Posted by mv on :
 
Audit should come with filing for otcbb or nasdaq small cap.This stock should be known to a wider audience to fully take off.I believe the audit is ready.They just wait for the right time to release it.
 
Posted by mikensay on :
 
Ahh, the smell of sour grapes....


What little technicals there don't look too good?

Hoping to see audit information, monthly numbers, the completion of the sale, something positive
 
Posted by NomarKash on :
 
Is this company still breathing? Haven't heard a peep in ages!
 
Posted by mikensay on :
 
Multiple e-mails and phone calls usually gets me some sort of answers, though maybe not valid, but haven't been able to get anything in some time.

With all the assetts I don't think this thing is dead but I'm starting to think the last PR of a property sale was needed to keep the operation running rather than some wind fall as was in the PR.

Good luck!
 
Posted by NomarKash on :
 
IBAC Corporation Reports Third Quarter Revenues
Friday October 13, 9:07 am ET


NEW YORK--(BUSINESS WIRE)--IBAC Corporation (PINK SHEETS: IBCX - News) today reported revenues for the third quarter of $2,942,842.53 these revenue figures are based upon internal records and are subject to verification by the company's independent accountants and auditors.
ADVERTISEMENT





The company will be publishing a pre audit Financial Statement by the months end on the company's website, with audited financials to follow soon after.

The company expects to have revenue of $9,500,000 to $10,000,000 for the calendar year of 2006.

The company expects a significant increase in revenues for the forth quarter as the company's restaurants in the Florida market will be entering the winter season the busiest time of the year for those operations.

The company's Hotel division is realizing significant revenue growth over the same period last year, due to increased traffic and ongoing and completed improvements to the properties.

Mr. Burmaster stated, "The Company has under gone some significant challenges over the past several months and will continue to through the end of the year, with that being said we anticipate experiencing our best year revenue wise and profit wise in the company's short history and we look forward to generating additional revenue based on these positive results as we continue to grow our company."

IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hotel, Food Service & Restaurant industries. IBAC now has operations in Florida, Tennessee & Arkansas. For more information, please visit: www.ibaccorp.com.

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "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, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.


Contact:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations*ibaccorp.com
www.ibaccorp.com

--------------------------------------------------------------------------------
Source: IBAC Corporation
 
Posted by Prdponce on :
 
.008

got some a .0075
 
Posted by Prdponce on :
 
.
008 x .009
 
Posted by mv on :
 
This is a gold mine.It seems to me the audit is ready and it is good.We can see 5 cents very soon.I am buying.
 
Posted by Prdponce on :
 
I thing this will touch .01 real soon IMO
 
Posted by Prdponce on :
 
.009 x .0095

 -
 
Posted by mv on :
 
A lot of people are on vacation today.When they are back on monday,the real action will begin.This dog won't stay subpenny for too long.Market cap is under 2 mil as revenue reaches 10 mil in 2006.It is rare to see this buying opportunity in a long time.
 
Posted by IMAKEMONEY on :
 
LIKE THE CHART!
 
Posted by NomarKash on :
 
IBAC Corporation Holds Negotiations to Acquire a Country Club & Full 18 Hole Golf Course
Tuesday October 17, 9:05 am ET


NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets: IBCX - News) today announced that it is holding negotiations to acquire a full 18 hole golf course and country club.
ADVERTISEMENT


The property's golf course was designed by the world renowned Alfred H. Taft and includes tennis courts, pool, banquet space, restaurant, bar, pro shop with a resident pro. The property encompasses approximately 200 prime acres.

The company intends to incorporate/build a number of high end single family homes and condos on the property abutting the golf course, thus creating additional profits from the acquisition while defraying the acquisition cost.

"Due to the sensitive nature of the negotiations and the request of confidentiality by the sellers of the property, the deals terms and the location of the property will be disclosed upon the completion of executed contracts, this announcement is being made due to the potential impact on the company's growth plan and the shareholders interest. We are very excited about this potential acquisition as it keeps with the company's philosophy of owning 100% all of the properties that it acquires and expands the company's holdings within the hospitality industry. This acquisition will add several million dollars in revenue for the company," said Wayne Burmaster President, IBAC Corporation.

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.


Contact:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
ir*ibaccorp.com
www.ibaccorp.com

--------------------------------------------------------------------------------
Source: IBAC Corporation
 
Posted by mv on :
 
Audit please.
 
Posted by NomarKash on :
 
As mentioned in another thread, Alfred H. Taft is no where to be found in Google.
 
Posted by rickpic on :
 
Whats next the BS NOBO PR that both SMMW and FGFC have put out already??? Something with merit is whats needed here! Nothing else will work!
 
Posted by rickpic on :
 
LOL now add NVMG to that stupid NOBO list PR games list!
 
Posted by mv on :
 
Has our sleeping beauty waken up yet?
 
Posted by casviper on :
 
it's in a coma!
 
Posted by mv on :
 
We need a prince to kiss her.How about Charles?Can he take one more wife?
 
Posted by NomarKash on :
 
More from Alfred H. Taft

IBAC Corporation Creates a 100% Wholly Owned Subsidiary and Reaches an Agreement to Acquire Country Club & Golf Course
Thursday October 19, 9:52 am ET


NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets: IBCX - News) announced today that it has formed RCC Management Company as a 100% wholly owned subsidiary of IBAC Corporation for the purpose of acquiring the country club & golf course.
ADVERTISEMENT


The company has successfully negotiated the purchase price of the property and has received contracts for the acquisition, the contracts are currently under review by the company's attorneys and we expect to sign/execute said contracts by weeks end.

The property's golf course (72 par/6,908 yards) was designed by the world renowned golf course designer Alfred H. Taft and includes tennis courts, pool, banquet space, restaurant, bar, pro shop with a resident pro. The property encompasses approximately 200 prime acres.

The company intends to incorporate/build a number of high end single family homes and condos on the property abutting the golf course, thus creating additional profits from the acquisition while defraying the acquisition cost.

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.


Contact:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
ir*ibaccorp.com
www.ibaccorp.com

--------------------------------------------------------------------------------
Source: IBAC Corporation
 
Posted by mikensay on :
 
This guy is so world renowned that Google expects everyone just to know who he is.

Sounded good in the press release, though.


The website has been updated with a change in legal counsel/sec. And the share counts verification have been updated. No change in numbers.


quote:
Originally posted by NomarKash:
As mentioned in another thread, Alfred H. Taft is no where to be found in Google.


 
Posted by mv on :
 
IBCX seems to be a real company.At least it shows no sign of distress at the moment.
 
Posted by mv on :
 
Preliminary financials are out.Go to raging bull to have a look.IBCX is ging to explode.Congratulations to all the faithful longs.
 
Posted by mikensay on :
 
Any guess on what will happen to the s/p Monday morning?
 
Posted by mv on :
 
5 cents.Hehehe.IBCX is pure profit.Next question.Hehehe.
 
Posted by Hitman on :
 
AltaVista News: SportsThe property's golf course was designed by the world renowned Alfred H. Taft and includes tennis courts, pool, banquet space, restaurant, bar, pro shop with ...
uk.altavista.com/news/cats?nd=5q=&nc=8&sc=307 - 26k - Cached - Similar pages

Typed Alfred H. Taft golf in google and got the above article. Taft is a real guy
 
Posted by casviper on :
 
The spelling was incorrect it's Alfred Tull and there is a ton of info on him.
 
Posted by NomarKash on :
 
Info on Mr. Tull:

http://www.rockleigh.org/Recreation/Golf/Tull.htm

By the way, how does IBCX have so many errors in their PR's? They need to hire an outside PR company. Wayne can't write worth a hoot.
 
Posted by mv on :
 
It is ok.He is a hotel manager,not a writer.I understand him.It seems he is doing a good job though.The company is profitable.
 
Posted by NomarKash on :
 
We don't know that the company is profitable. We never hear a peep on debt.
 
Posted by NomarKash on :
 
quote:
Originally posted by mv:
It is ok.He is a hotel manager,not a writer.I understand him.It seems he is doing a good job though.The company is profitable.

He's the freaking President. There is no way he should make as many mistakes as he does. I have no confident in him running the show.

NEWS:
IBAC Corporation Executes Contracts to Acquire Country Club & Golf Course
Tuesday October 24, 9:02 am ET


NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets: IBCX - News) announced today that it has executed its side of the contracts to acquire the previously announced acquisition of a private country club and golf course. The acquisition when completed will be owned by RCC Management Company a 100% wholly owned subsidiary of IBAC Corporation. The company expects the selling party to execute its side of the contracts by the weeks end.
ADVERTISEMENT


The property's country club & golf course (72 par/6,908 yards) was designed by the world renowned golf course designer Alfred H. Tull and includes tennis courts, pool, banquet space, restaurant, bar, pro shop with a resident pro. The property encompasses approximately 200 prime acres.

The company intends to incorporate/build a number of high end single family homes and condos on the property abutting the golf course, thus creating additional profits from the acquisition while defraying the acquisition cost.

"We are very excited with this acquisition as it opens a whole new stream of revenue and adds a significant real estate owned property to our portfolio, the number of profit centers involved with this property are extremely exciting, membership fees, wedding receptions, liquor and food sales, catering etc. Upon the execution of the contracts by the selling entity we will provide full details of the property being acquired and its location, we just want to make sure that the contracts are fully completed prior to the announcement, we are issuing this information and the its progression due to the significance and impact that it will have on the company as this will be a major acquisition and a huge step forward in the company's growth plans," said Wayne Burmaster, President IBAC Corporation

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.


Contact:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
ir*ibaccorp.com
www.ibaccorp.com

--------------------------------------------------------------------------------
Source: IBAC Corporation NEWS:
 
Posted by mv on :
 
I wonder how much will be added to the current revenue with this acquisition.Now we know ibcx is a good company.I believe the company is ridiculously undervalued.I wish I had more money to buy.
 
Posted by NomarKash on :
 
IBAC Corporation Board of Directors Approves Budget to Add Additional Real Estate Owned Properties
Thursday October 26, 9:12 am ET


NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets: IBCX - News) today announced that its Board of Directors has approved an aggressive business plan to acquire more real estate owned properties, they have authorized a budget of $100 million dollars, (of bank financing for the project), as the board believes that this is the only way the company can achieve its stated goals and objectives.
ADVERTISEMENT


The company has been pretty passive with its acquisition strategy, now that the board of directors has approved a definitive budget, the company executives will pursue additional acquisitions like the country club/golf course aggressively.

"I am very excited that the board has given me the authority to pursue many prospects that I have negotiated but have not been able to execute, We will pursue those acquisitions very aggressively as they will result in major revenue and assets to the company's balance sheet," said Wayne Burmaster President, IBAC Corporation.

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.


Contact:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
ir*ibaccorp.com
www.ibaccorp.com

--------------------------------------------------------------------------------
Source: IBAC Corporation
 
Posted by mv on :
 
Very nice.Are we rich yet?
 
Posted by mv on :
 
We should be cautious.The pps hasn't gone up despite all the good news.There is a possibility the company is selling shares to raise money.The TA is gagged again.IMHO
 
Posted by mikensay on :
 
100 million for acquisitions. Wow. And where would they get that? They can't seem to get any property without doing a 49-51 split. I just don't get it.

Oh and mv you're rich. Me too. But the massive inflation effect makes it around 50 bucks
 
Posted by mv on :
 
hehehe.Keep hope alive.Maybe Ed is not diluting because that is the most stupid thing a CEO can do at this important time for the company.IBCX has a bright future,but dilution may kill it.
 
Posted by casviper on :
 
This stock is on the road to nowhere.I've been in it for years with nothing but empty promises. I wish I could break even and unload this POS!
 
Posted by mikensay on :
 
Don't know what you're talking about. This thing is on the way up. You just sit tight for another 2 or 3 years. You'll see this thing blast off. Might even see .01 by then.

I'm really hoping to finally see something positive in the near future. But their track record with PR's and actually achieving them is not so great.

Good luck to all of us.
 
Posted by casviper on :
 
Another 2 or 3 years to get to a penny.... And you think this is good. There are some of us who have had this stock for a couple of years already AND got screwed when they did a reverse split. So we own less shares and the pps is worse NOW then before the R/S. POS!!!
 
Posted by mikensay on :
 
Damn Casviper.

Don't you get sarcasm? I'm one of those who took it in the shorts. I was hoping this thing would be above .05 by now...and that was before the split.

Stupid me, I listened to the PR's about the growth strategy, the stock buy back, and ED saying they had an unsolicited offer. That all while they diluted the **** out of it, posted PR's about this and that acquisition and the many other positive sounding PR's regarding monthly numbers, audits etc. It's been a wonderful ride for me too.
 
Posted by amanick on :
 
I love reading all the posts. I get a good laugh at all the humor here for sure.I am sitting on a very large share of this stock. I will continue to hold it as long as neccesary just to see what the out come will be.I doubt we will see anything come of this for a very long time. It is obvious that there is no buy back going on.I do know that there is alot of buying of properties that is going on by reading the press releases but have a serious concern about the debt this company is taking on because we have no idea where the money is comming from to begin with nor have we seen an audit. This company is not to be trusted at all. They have not been honest and forth right from the begging and I wouldnt read to much into the pr's. I would think that in the next few months if a audit isn't released that compliants should be brought to the sec to investigate how much of the pr's are true and why the audit has'nt been released.The reality of this is that some of us bought into this because we believed the pr's that went out and have an interest in the long term positions that we hold. Thoise that went for the quick buck are more disappointed in it.Saying that I think we can just forget this for a few months and then perhaps we should all settle on a date to file complaints if an audit isn't forth comming
 
Posted by casviper on :
 
quote:
Originally posted by mikensay:
Damn Casviper.

Don't you get sarcasm? I'm one of those who took it in the shorts. I was hoping this thing would be above .05 by now...and that was before the split.

Stupid me, I listened to the PR's about the growth strategy, the stock buy back, and ED saying they had an unsolicited offer. That all while they diluted the **** out of it, posted PR's about this and that acquisition and the many other positive sounding PR's regarding monthly numbers, audits etc. It's been a wonderful ride for me too.

Sorry Mike, I've just lost all my patience with this stock. We have been lied to soooo much by this company.
 
Posted by mv on :
 
Give Ed a few more months.Who know?Maybe he will show us a good audit and file for otcbb.After all,he holds more than half the outstanding shares and he will have 10 mil dollars if the pps reaches 10 cents.It is in his best interest to make the pps go up.
 
Posted by NomarKash on :
 
IBAC Corporation Unit Announces Alignment with the American Basketball Associations (ABA) Arkansas Rivercatz
Wednesday November 1, 9:01 am ET


NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets: IBCX - News) today announced that it has entered into a sponsorship/alignment with the new Arkansas Rivercatz (http://www.rivercatz.com) of the American Basketball Association (ABA) (http://abalive.com) team in Pine Bluff, Arkansas.
ADVERTISEMENT


The Royal Arkansas Hotel & Suites, Inc., a majority owned subsidiary of IBAC Corporation, will be the official hotel of the Arkansas Rivercatz. The team will play all its home games at the adjoining Pine Bluff Convention Centers Arena (http://www.pinebluffonline.com/conv/arena.html). The company will also handle all concession sales through its contract with the Pine Bluff Convention Center, as contracted exclusively with IBAC Corporation's National Hospitality Management Services Unit.

About the American Basketball Association:

The ABA experienced tremendous growth in the 2004-2005 season with more than 30 teams competing for the ABA Championship. One of the teams competing was the Kentucky Colonels, one of the original ABA teams, which won the ABA Championship in 1975 before the NBA/ABA merger that brought the Indiana Pacers, New Jersey Nets, Denver Nuggets and San Antonio Spurs into the NBA. The Colonels are owned by Stephanie Roach, the first African American female owner of a professional sports team. Tree Rollins, former NBA great, became the GM, the first of many former NBA stars to join the ABA.

2004-2005 brought other historical events. Nashville Rhythm made ESPN headlines with the first female head coach of a men's professional basketball team - and headlines again - when she was dismissed. The ABA signed its first corporate sponsor, Pit Bull Energy Drink, who also presented the ABA Championship Trophy to the Arkansas Rimrockers after a game attended by nearly 15,000 screaming fans. The Bellevue Blackhawks, led by Coach of the Year Rick Turner, was defeated in the game. Bellevue rose from the #13 seed to make the finals, and did it with a team made up of local players.

In addition, the major expansion created the most diversified professional sports league ever with over 60% of the teams made up of ownership groups comprised of African-Americans, Hispanics, Asians and women. Teams included: Atlanta Vision, Arkansas Rimrockers, Bellevue Blackhawks, Boston Frenzy, Calgary Drillers, Carolina Thunder, Cincinnati Monarchs, Colorado Storm, Detroit Wheels, Fresno Heatwave, Reigning Knights of Georgia, Harlem Strong Dogs, Hermosillo Seris, Kansas City Knights, Kentucky Colonels, Las Vegas Rattlers, Long Beach Jam, Los Angeles Stars, Louisiana Cajun Pelicans, Maryland Nighthawks, Mississippi Stingers, Nashville Rhythm, New Jersey Skycats, Ontario Warriors, Orange County Buzz, Pennsylvania Pit Bulls, Philadelphia Fusion, Portland Reign, St. Louis Flight, Texas Tycoons, Tijuana Dragons, Utah Snowbears, Visalia Dawgs.

About IBAC Corporation:

IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hotel, Food Service & Restaurant industries. IBAC now has operations in Florida, Tennessee & Arkansas. For more information, please visit: www.ibaccorp.com.

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "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, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.


Contact:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations*ibaccorp.com
www.ibaccorp.com

--------------------------------------------------------------------------------
Source: IBAC Corporation
 
Posted by NomarKash on :
 
All this news (mostly useless) and downward movement - gotta love it!
 
Posted by mv on :
 
It goes nowhere until we see the real audit and otcbb
 
Posted by Borknagar on :
 
Uffff it seems that the OS have been increased :/ :
Here are the latest numbers:
AS 500,000,000 million shares
OS 206,937,482 million shares
 
Posted by mikensay on :
 
Holy F***

Where did you get those numbers?
 
Posted by Borknagar on :
 
I found it here: http://ragingbull.quote.com/mboard/boards.cgi?board=IBCX&read=2565
 
Posted by mv on :
 
The best time to buy is after a panic selling.Ibac is still doing business as usual.It hasn't died yet.Stop the moarning and buy.HEhehe.
 
Posted by IMAKEMONEY on :
 
IBAC Corporation Announces Offer to Acquire its Restaurant Operations

November 02, 2006 08:54:20 (ET)


NEW YORK, Nov 02, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pinksheets: IBCX) today announced that it has entered into negotiations to acquire its restaurant operations, the proposed acquisition if accepted, would be to another publicly traded company and include a share distribution (payout) to the IBAC shareholders.

The requested acquisition of IBAC assets are the Florida restaurants in Ft. Myers and Bonita Springs, the company even though they consider both these assets as major holdings has agreed to consider the sale if a positive profit is recognized by the company and its shareholders.

"As we continue to build our company, we will consider this offer as we are directing our efforts towards real estate owned properties such as the pending country club/golf course acquisition and our currently owned hotels. I have agreed to negotiate this potential acquisition only if it is beneficial to the shareholders and the company, meaning a profit could be realized, otherwise we will pass on the proposal. It is my intent as the President of this company to realize the best return on investment as possible," said Wayne Burmaster President IBAC Corporation.

IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hotel, Food Service & Restaurant industries. IBAC now has operations in Florida, Tennessee & Arkansas. For more information, please visit: www.ibaccorp.com.

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "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, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.

SOURCE: IBAC Corporation


IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations*ibaccorp.com
www.ibaccorp.com
Copyright Business Wire 2006
 
Posted by NomarKash on :
 
Oh good, more worthless shares...
 
Posted by amanick on :
 
Nice drop! You would think Ed would be buying bunches back at this price hahahaha!
 
Posted by NomarKash on :
 
IBAC Corporation Removes Its President & General Manager of Its Royal Arkansas Hotel & Suites Subsidiary
Wednesday November 8, 9:02 am ET
And Has Named Lisa Jackson as the New Vice President of Operations & General Manager


NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets: IBCX - News) announced today that Gerry Becker the company's President & General Manager of the Royal Arkansas Hotel & Suites, Inc. was relieved of his duties with the company in August for cause and actions detrimental to the company's well being.
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The Royal Arkansas Hotel & Suites, Inc owns the 200 room property in Pine Bluff, Arkansas and The 128 room Memphis Airport/Graceland Hotel, IBAC Corporation is the majority owner of the company with a 51% interest (and is the sole provider of the funding/investments besides traditional mortgages) to the company.

IBAC Corporation has taken over full management responsibilities of the company and is handling all accounting from its New York offices at this time. Since the company has made this adjustment in management IBAC has spent some $600,000 plus on shoring up the required finances and needs of the business such as any additional renovations past due bills etc.

The company's counsel has also retained a special tax attorney and cpa to determine the financial condition of the company and a forensic accounting firm to look into any possible improprieties that may or may not have occurred.

The company is aware of certain outstanding tax issues that were not addressed by previous management and once any obligations are determined factual will be paid immediately.

Mr. Hayter the CEO of IBAC Corporation was in Arkansas last Thursday and Friday and met with community leaders such as the Chancellor of The University of Arkansas at Pine Bluff, The NAACP and several other prominent community leaders assuring us of their support and help for the Hotel.

Lisa Jackson the new V.P. of Operations and General Manager in just two short months has made tremendous inroads as to generating new revenue, additional room bookings and banquets, along with opening a new restaurant, significant renovations and other major changes advantageous to the property.

"We are reviewing all aspects of the properties operations, policies by the management by our minority partner and will take what ever legal action required to rectify any damage to the company and its shareholders that may have occurred," said Edward W. Hayter, CEO IBAC Corporation

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.


Contact:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
ir*ibaccorp.com
www.ibaccorp.com

--------------------------------------------------------------------------------
Source: IBAC Corporation
 
Posted by NomarKash on :
 
Recent post on TripAdvisor regarding Royal Arkansas:

Y'all will not believe that this is the same hotel as a month ago. The Royal Arkansas Hotel & Suites has a new General Manager/ VP of Operations and she is fantastic. In just a few weeks this hotel went from being a flop house to being the new and upcoming place to be. They have a great lunch buffet and started a continental breakfast with your room but most of all the service was beyond belief. I travel a lot and I have been to all kinds of hotels across the country. These people really cared if I was happy and it seemed like they couldn't do enough for me. I finally asked the front desk clerk how it was that the staff was so dedicated and caring. She said "that is thanks to our general manager Lisa Jackson". Well, I never thought I would say this but, Y'all we have got the place and the service it is time to come back to PINE BLUFF
 
Posted by Fre on :
 
I thought the Royal Arkansas was sold a month ago for $2.5M?
 
Posted by Fre on :
 
August 07, 2006 09:46:25 (ET)


NEW YORK, Aug 07, 2006 (BUSINESS WIRE) -- IBAC Corporation (PINKSHEETS:IBCX) Chairman, Edward W Hayter, announced today that IBAC Corporation has agreed to sell all of its shares of The Royal Arkansas Hotel & Suites Inc. to its minority partner International Hotel Management for $2.5 million dollars.

Mr. Wayne Burmaster President of IBAC Corporation said, "We have confidence in the long-term goals for the business, we will use this windfall to the company's advantage either with a share buyback or investment in other assets.

Mr. Burmaster added, "The Royal Arkansas Hotel & Suites is an excellent company and we have enjoyed our relationship with it, the company paid 1.1 Million Dollars for its 51% interest in 2004 so the windfall (Profit) of 1.4 Million Dollars in less than two years represents an exceptional profit."

The transaction, which is subject the customary normal closing conditions, including attorney approval, is expected to close within the next 30 day's.

The company in attempts to fortify its balance sheets considers this move as a positive step, as now the company will own all its properties 100% with no partners, and will allow the company to grow accordingly.

IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hotel, Food Service & Restaurant industries. IBAC now has operations in Florida, Tennessee & Arkansas. For more information, please visit: www.ibaccorp.com.

Forward-Looking Statements
 
Posted by NomarKash on :
 
It wouldn't be IBAC without conflicting PR's...
 
Posted by mv on :
 
The TA is gagged again.Call 8012667151.Ed is dumping probably.We should not buy at this time.IMHO.
 
Posted by mikensay on :
 
Here's my latest chemically induced dream:

Ed lets rumors out, posts this bad news, gags the TA and then buys back several million shares, subsequently reduces the share count, ungags the TA, produces the certified audit, moves to the OTCBB.... and then announces that this golf course thing is moving and will be double value as they sell off houses along the fairway.

The nightmare:

Ed's doing exactly as it looks. Diluting the hell out of the stock...

I really don't get the pr saying they had no idea the hotel was in such bad shape, since they do own 51% of the business, why wouldn't he know????
 
Posted by amanick on :
 
Read earlier posts about suspect P.R. I stated you can't believe anything they say. I am sure the deal fell through and they never informed share holders. I think this is starting to look fraudulent or they have a reason for the confusion.
 
Posted by NomarKash on :
 
IBAC Corporation's Board of Directors Announces a 25% Stock Dividend
Monday November 13, 8:57 am ET


NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets:IBCX - News), a hospitality holding company, today announced that the Board of Directors has approved a 25% stock dividend to all common shareholders of record December 1, 2006, and payable December 15, 2006. The action was approved at a board meeting on November 10, 2006, with the effect of adding 25% more shares of IBCX. Edward W Hayter, Chairman & CEO, stated: "The dividend reflects the on-going success of the Company and rewards shareholders for their continued support. We are proud to present our shareholders with this third stock dividend by the Company in its brief two and a half year history."
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The Company has previously announced the pending acquisition of a golf & country club property, this transaction is expected to be approved by the selling entity at a special Board of their Directors meeting on November 14, 2006, at that point and time all pertinent information regarding the property and transaction will be released.

The company had also previously announced a sale or transaction off of its restaurants in Florida, this proposed deal has not been completed at this time, if said deal is completed the shareholders would also receive an additional form of dividend when completed. This deal is under consideration as the Company is directing its efforts towards becoming a quality 100% real estate owned hospitality property Company.

In the past year the company has bought out its minority partner in the Sanibel Restaurant Group and has acquired The Sanibel Steak House in Bonita Springs both properties are now owned by IBAC Corporation 100%, The Company has removed its minority managing partner in the hotels and will attempt to gain the 100% ownership of those properties as well (IBAC Corporation is the majority partner (51%) in the hotels and the sole investor in them).

Wayne Burmaster, president and chief operating officer, stated that "the growth in all performance areas in 2006 was due to the continued success of our business development efforts in and around the marketplaces we serve. We are pleased with the continued, quality growth and increased earnings of the Company, and remain committed in our efforts to build a quality hospitality organization and increasing shareholder wealth."
 
Posted by amanick on :
 
We are proud to present our shareholders with this third stock dividend by the Company in its brief two and a half year history."

Notice how they forgot to mention the R/S they did! I wouldn't be suprised that we are due for another real soon either. I would think that after the new year we will have an R/S and more BS press release.Still not sure what to make of the hotel? either they sold it or they didn't?
 
Posted by mikensay on :
 
I am amazing myself. I seem to have this uncanny ability to pick crap stocks.

I've got very little left to lose in this so I'll keep it, but the last 2 years have been an incredible streak for me. It's kind of like being at the black jack table and consistently coming up with 23 every hand.
 
Posted by amanick on :
 
don't let it get to you in due time you will recoup it. pennies are a tough play to be had to begin with.I am just wondering how much lower this is going to go and you would think that ibcx would be doing a buy back at these prices which leads me to believe that they were full of crap to begin with.Notice how we never heard of how many they did suppose to buy back earlier this year! All we heard was buy back and nothing more after that and now shares plunge on news that a forward split will take effect supposedly. Im still waiting for a r/s after the new year. If you look back we got shares as a reward then got a r/s last time out.
 
Posted by Bigrod40 on :
 
[Big Grin] I guess people love golf....UP 114% today.


IBCX (.0028) Has Executed Contracts to Acquire a Country Club & Golf Course and Now is Pending Boards Approval

Business Wire "US Press Releases "

NEW YORK--(BUSINESS WIRE)--

IBAC Corporation (Pinksheets: IBCX) announced today that it has already (as previously announced) executed its side of the contracts to acquire the previously announced acquisition of a private country club and golf course. The company now awaits approval/acceptance of the Board of Directors of the country club & golf course.

The country clubs Board has met with IBAC representatives for its second round of negotiations, and has informed the company that a definitive decision will be made by December 1, 2006 or before.

The property's country club & golf course a 72 par/6,908 yards was commissioned by International Paper and designed by the world renowned golf course designer Alfred H. Tull and includes tennis courts, pool, banquet space, restaurant, bar, pro shop with a resident pro. The property encompasses approximately 200 prime acres.

The company intends to incorporate/build a number of tasteful high end single family homes and/or condos on the property abutting the golf course while not compromising the courses history or design, thus creating additional profits from the acquisition while defraying the acquisition cost. The company also intends to maintain the current board on an advisory basis; it is the intent of the company to increase membership back to the level that this property has once enjoyed, with the prestige and level of service equal to or beyond its history.

"We are very excited with the prospect of this acquisition as it opens a whole new stream of revenue and adds a significant real estate owned property to our portfolio, the number of profit centers involved with this property are extremely exciting, membership fees, wedding receptions, liquor and food sales, catering etc. The company will never nor intends to compromise the integrity of this world class property, it is only our intent to restore and enhance its position in history. We are eagerly optimistic that the Board will accept our offer so that we may move forward with the improvements and amenities that a property of this magnitude deserves," said Wayne Burmaster, President IBAC Corporation.

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.

Source: IBAC Corporation
 
Posted by amanick on :
 
it may have went up today but dont hole your breathe as its way down from what it was several weeks ago. If you read the PR this is not a top rated faciltyand needs to be reworked in order for it to be successful.

Quote:The company will never nor intends to compromise the integrity of this world class property, it is only our intent to restore and enhance its position in history. We are eagerly optimistic that the Board will accept our offer so that we may move forward with the improvements and amenities that a property of this magnitude deserves," said Wayne Burmaster, President IBAC Corporation.

Keywords are retore and inhance property which means its been faltering and why they want to keep the same board on that allowed it to falter is beyond me.To take it a step further I don't believe ibcx has what it takes to turn anything around. They can't even produce an audit so why have faith that they can turn anything around other then the stock price which will go lower.

If you have read some of my posts on this stock I think I was pretty much on the money with the comments posted.
 
Posted by amanick on :
 
Another bs press release today. Now that hey have the final draft of the audit thats being reviewed I guess we wait another year for them to review and release it
 
Posted by NomarKash on :
 
IBAC Corporation Updates Status of Audited Financials
Tuesday November 21, 10:04 am ET


NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets:IBCX - News) announced today that it has a final draft of its audited financial statements and after review will release them to the public.
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"The company and the shareholders have waited a long time for this moment and we are now very excited that now we will be able to become a fully reporting company and file to move up to the OTCBB." Said Wayne Burmaster President

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.


Contact:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
ir*ibaccorp.com
www.ibaccorp.com

--------------------------------------------------------------------------------
Source: IBAC Corporation
 
Posted by Bigrod40 on :
 
[Wink] Talk about ending PR "Quiet time"...They are rolling out the PRs now....

IBAC Corporations Board Approves Reduction in Its Authorized Shares by 150 Million
Wednesday November 22, 8:56 am ET

NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets:IBCX - News) announced today that its Board of Directors has approved an immediate reduction of its Authorized shares from 500 Million to 350 Million.

The company had previously increased its authorized shares to 500 Million in anticipation of certain pending acquisitions that may have required issuance of stock, after the negotiations of these acquisitions the stock will not be required as the acquisitions will be funded from cash flow.

The reduction in authorized shares is in line and includes considerations of the 25% stock dividend, payable to shareholders of record on December 1, 2006, the share dividend will be paid with non restricted (free trading) stock.

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.


Contact:

IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
ir*ibaccorp.com
www.ibaccorp.com

Source: IBAC Corporation
 
Posted by FurrySound on :
 
This last release is huge. Funding the acquisitions with cashflow and NOT share issuance. I can't wait for the audited financials and a move to the OTCBB. We could be looking at a .03+ move.
 
Posted by FurrySound on :
 
.009's [Smile]
 
Posted by NomarKash on :
 
This could be my day to get out of this thing and wish lying Ed a nice goodbye..
 
Posted by amanick on :
 
This is not huge sorry to say. This stock is being manipulated. Again read my posts. They gave out a dividend then did a reverse split then said they would reduce shares through a buy back but then distributed more shares anyway back to 500 million and now another split comming and claim to reduce the shares again. The only shares going to be reduced are the ones you hold after a r/s. watch and learn how you will be screwed.The back to back PR's is commoon for this stock and this stock will tank big timne gain after the splits. I agree with norma that if you can recoup I'd drop out if you can't handle the ride. The issue of the audit in it's final draft is BS plain and simple. it took over a year to have an audit and probably just as long to review it and even longer to go to otcb.
 
Posted by amanick on :
 
this will tank again very quickly and I wouldn't be suprised that by days end we see this back to lkast weeks digits.
 
Posted by FurrySound on :
 
amanick: I'm not saying buy and hold for 3 years. The stock is moving, penny break is here, going to move up more before Dec 1st.

Tough wall at .01, look for eod push to break it imo.
 
Posted by amanick on :
 
I under stand what you are saying and probably understand this stock more then most of you. There are several of us who been in this for the long haul and know how this company thinks. The push is the stock being manipulatedand nothing more. As I said by the end of the day it would start to tank and I think thats just what happened.(.0085 ) end of push.
 


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