posted
Interesting.No monthly revenue!Something big is gonna happen.A price explosion ,maybe.Audit,otcbb,Ican will be exposed to a whole new class of investors.Have you guys ever seen a multibaggers yet?We may be looking at one right now:our ugly,stinking Ican.
Posts: 107 | Registered: Sep 2005
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posted
still have my 17m,averag 0,003,so go ican,personnally i think it will take some time before it will move again
Posts: 207 | Registered: Jan 2005
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posted
Well that .0003 maybe closer then we think. I had just a 100,000 shares up for sale for almost 4 weeks it finaly sold today..... Guess Patience is the answer huh commmmeeeeeee onnnnnn .0003 or more
-------------------- You can learn many things from children.......... How much patience you have, for instance. Wealth and children are the adornment of life. I have 5 children and 32 day care children now working on the wealth part. heheheh Posts: 139 | From: All smiles child care | Registered: Aug 2005
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posted
A fair pps for Ican?Ican owns a few restaurants and hotels.Even if they owns just 50% of them,it can easily be more than a few millions.Based on assets alone,the pps should be around 0.0005.If the audit shows profit,it can be much higher.
Posts: 107 | Registered: Sep 2005
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posted
TOTAL AUTHORIZED SHARES AS OF 9/30/05 12,200,000,000 ISSUED AND OUTSTANDING SHARES AS OF 9/30/05 10,793,385,517
If Ed does what he promised and pumps $500 000 in buyback at an average price of (assumption) 0.00015, he can buy up to 3.33 billion shares. In one of the last PR's it was stated as well that he privately was buying.
So : 7.4 billion left.
Revenue projection :
PR ICAN :
"The company projects that with only the existing assets and the completed conversion of the Memphis property to a Days Inn and with the addition of a Country Kitchen Restaurant at its Memphis Property revenues for 2006 will be in the 7.5 to 8.5 Million dollar range. The company will continue to maximize revenues from all of its holdings while concentrating on acquiring additional depressed properties to increase revenues either via joint ventures (the company always maintains majority control) or sole ownership."
Lets assume 7.4 million.
Revenue per share : 0.001 !
Knowing that they're buying their buildings, this should be taken into account as well (incl their debts).
Looks promising if you compare it to some air that's being sold on the pinks.
Only disadvantage : Ed has been promising, and ... promising ... and promising .. and ...
Hope the lack of figures for Jan and Feb are a sign and that the buyback has been done (at a lower price then stated above).
I'm convinced this will generate profit for us.
Posts: 749 | Registered: Aug 2005
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NEW YORK, Mar 02, 2006 (BUSINESS WIRE) -- IBAC Corporation (ICAN:PK) today announced that it has named Mr. Wayne Burmaster as its new President & COO.
Mr. Burmaster was recruited from outside the company to lend fresh ideas and direction to the company's growth, objectives and business plan going forward, and has the Board of Directors full support for his ideas and strategies to lead the company forward to the next level.
Mr. Burmaster has been operating in an Executive capacity within the company for several months evaluating the operations and visiting the companies properties, meeting with middle management and employees formulating asset enhancement and revenue maximization plans and objectives.
Mr. Edward W Hayter will remain as the company's Chairman & CEO and handle more of the company's acquisition strategies and financing matters while Mr. Burmaster will over see the day to day operations with full authority to implement procedures and policy's going forward. "This will allow the company to achieve its stated goals of becoming fully reporting and accelerate certain acquisitions and funding issues that are on the table." Said Edward W Hayter
Mr. Hayter also stated "that the company is very pleased that Mr. Burmaster agreed to come on board as I have complete confidence in his abilities, administrative skills and professionalism to streamline operations thus creating maximum equity, revenues/profits and growth for the company."
"We intend to bring this company to the next level on a fast track basis with an aggressive campaign directed towards maximum growth both revenue/profit wise while creating significant equity growth of our current assets." Said Mr. Burmaster President & COO
Mr. Burmaster also stated "I am very excited to join an organization with the tremendous potential that IBAC Corporation offers and look forward to a very prosperous and rewarding experience"
-------------------- It's choice - not chance - that determines your destiny. Posts: 350 | From: Portland, Oregon | Registered: Jan 2005
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posted
Isn't it odd that they dont mention where Wayne Burmaster worked before coming to IBAC?
Posts: 1295 | From: New Jersey | Registered: Dec 2004
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posted
trying to get off at .0002 for a while hope this news will help
-------------------- Remeber! 99% of penney stocks are scams, but with only that 1% you can be rich Posts: 436 | From: University of Sounthern California | Registered: May 2005
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posted
when searching google i see that name involved in lawsuits with some investment firm. not saying its the same person, but who knows.
Posts: 1295 | From: New Jersey | Registered: Dec 2004
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quote:Originally posted by NomarKash: when searching google i see that name involved in lawsuits with some investment firm. not saying its the same person, but who knows.
Looks like he is mentioned for Affidavit for employment for Wein Securities.
But digging further it looks like Wein Securities is a MM. Is this good bad or indifferent? We'll see. And of course the s/p is now at .0001
-------------------- It's choice - not chance - that determines your destiny. Posts: 350 | From: Portland, Oregon | Registered: Jan 2005
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posted
My sell was at .0002. Now I have 500,000 up for sale at .0002 n a buy for 100,000 * .0001 just testing the waters to see whats more difficult selling at .0002 or buying at .0001 we will see
-------------------- You can learn many things from children.......... How much patience you have, for instance. Wealth and children are the adornment of life. I have 5 children and 32 day care children now working on the wealth part. heheheh Posts: 139 | From: All smiles child care | Registered: Aug 2005
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posted
It can only be good.You see,how can it be bad?We are already at the bottom.The only bad thing is bankrupcy.They are hiring.They talk about expanding and becoming fully reporting.That means the company is still alive and well.If they can come up with a decent audit,the pps will soar like an eagle.
Posts: 107 | Registered: Sep 2005
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posted
Who didn't see this coming. If we move to the OTCBB this may work out as long as they don't start diluting.
TOM
IBAC Corporation's Board Approves a 1 for 80 Reverse Split and Reduction of Its Authorized Common Shares Saturday March 4, 9:34 am ET
NEW YORK--(BUSINESS WIRE)--March 4, 2006--IBAC Corporation (ICAN.PK) Friday after the bell announced that its Board of Directors has approved a 1 for 80 reverse split of its common shares, this reverse split will leave the company with only 150 Million common shares outstanding.
The company also approved a reduction of its authorized common shares from 12 Billion to 500 Million shares, with this action the Board believes it will bring the capitalization in line with the true value of the company and allow greater opportunity for growth of the share price.
The company has not filed for any new reg dex/504 filings and does not have any plans to do so; the decision was made after long discussions with our advisors. We believe the action will bring the pps in line with the value of the company and have a stronger balance sheet/audit in place when we apply to the OTCBB for listing.
The reverse split will take effect March 10, 2006 and the company will have a new trading symbol that will be announced once received from NASDAQ.
"We realize that this move will not be received very enthusiastically from our current shareholders but we believe to get this company where we have stated the OTCBB and to offer the best chance for appreciation and growth this had to be done, and we have no intention of any dilution so it is our belief that this will reflect the true value of our company," said Wayne Burmaster, President & COO.
About IBAC Corporation:
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant and other industries. IBAC now operates businesses as the majority owner with over 100 employees in Florida, Tennessee & Arkansas that includes a 200 room full service hotel, 127 room limited hotel, 4 restaurants/lounge 10,000 sf of banquet space and the exclusive concession, food, beverage & catering contract with the Pine Bluff Convention Center.
IBAC operates through its subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide/Memphis Airport Ramada; IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. Visit the company website at www.ibaccorp.com.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
posted
Yeah saw it coming, but was hopefull the company would have just done the buy back and retirement of shares that they previously announced (after they diluted of course).
I still think this company has a real shot especially if it gets to another board.
I was originally hoping for the buy back, reporting and the share price climbing to .03. Now, who knows...
Does anyone know if there any share price requirements for over the counter???
-------------------- It's choice - not chance - that determines your destiny. Posts: 350 | From: Portland, Oregon | Registered: Jan 2005
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"bring the pps in line with the value of the company"
it is the mc ( = market cap.) and not the pps, which reflects the "value" of the co.
in theory a split will NOT effect the mc at all
in this case, however, this 1:80 r/s will reduce the mc.
Burmaster's entire pr is lies.
*********************************************** IBAC Corporation (ICAN.PK) Friday after the bell announced that its Board of Directors has approved a 1 for 80 reverse split of its common shares, this reverse split will leave the company with only 150 Million common shares outstanding.
The company also approved a reduction of its authorized common shares from 12 Billion to 500 Million shares, with this action the Board believes it will bring the capitalization in line with the true value of the company and allow greater opportunity for growth of the share price.
The company has not filed for any new reg dex/504 filings and does not have any plans to do so; the decision was made after long discussions with our advisors. We believe the action will bring the pps in line with the value of the company and have a stronger balance sheet/audit in place when we apply to the OTCBB for listing.
The reverse split will take effect March 10, 2006 and the company will have a new trading symbol that will be announced once received from NASDAQ.
Posts: 726 | From: Delta Quadrant, Borg Cube 01 | Registered: Dec 2005
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posted
Can you explain the difference between NASDAQ and OTCBB? From what I gather, OTCBB is where NASDAQ stocks go after being delisted for not meeting standard criteria. So, is OTCBB the springboard from pinksheets to get to NASDAQ?
I just don't get why they listed both on this PR.
Thanks for any clarification you can provide.
-------------------- It's choice - not chance - that determines your destiny. Posts: 350 | From: Portland, Oregon | Registered: Jan 2005
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Nasdaq was formed by a bunch of brokers and mms, and is totally computer driven, unlike NYSE.
OTCBB is a part of Nasdaq. A long time ago there was a "counter" somewhere in my where brokers could trade "Over Tthe Counter" stock certificates. Its all on computers these days.
OTCBB stocks must file at least quarterly financial statements. You can see all of these at pinksheets.com. They are 10Q, and 10K (yearly). OTCBB stocks do not have to file anything else.
Before and after SarbOx, if a CEO lies in the quarter statements, they can go to jail. They tend not to lie.
Pinksheets (pinkies) These pinkie cos mostly were once OTCBB stocks, but no longer. Pinkies do not file anything, and so are divorced from Nasdaq and the SEC. In 99% of cases, the reason pinkies dont file is bcs. they are shut down. It would be pointless to file, and there is always the threat of jail. The pinksheets and pinksheets.com are owned by 1 NASD member, as a business. Pinkies file and address and phone, the xfer agent, the CEO, and not much else. Pinksheets will never know the OS, for example, only the transfer agent does. You can get info about any co on pinksheets.com, not just pinkies.
In general, pinkies dont have L2 quotes so dont look for them. On Ameritrade at least, i can sometimes get real time L1 quotes on pinks, maybe. All the data on pinkisheets.com is delayed, so watch out.
There are a large number of good foreign cos like Nestle that trade on the pinkies bsc. they dont want to file in the US. Therefore, pinkies really are legit. Fake shares cannot be created.
Grey Sheets, the "Other OTC". These are cos (just a cusp no. really) that are traded but have not paid the fees to be on pinksheets. They are at the very bottom.
In general, any OTC, Pink or Gray stocks are NOT investments and are not suitable for most investors.
99.9% of OTC/Pink cos. are shells w/o operations.
I hope this helps.
7
Posts: 726 | From: Delta Quadrant, Borg Cube 01 | Registered: Dec 2005
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I forgot to add that stox on the OTCBB were mostly thrown off the Nasdaq due to low share price. In 99% of the cases it is bcs. the company has folded, but they almost never admit this. Keep in mind that any comapny with less that $100k cant operate, and will fold.
After the 2000 tech collapse something like 3000 tech cos. were tossed off the Nasdaq. They go instantly onto the OTCBB, and then, after they stop filing, onto the pinksheets. One of the mms will pay the fee to get it on the pinksheets, bcs. they want to trade.
Since they dont have to file or pay any more fees, a totally dead co. can stay on pinksheets, and trade, for years.
Etoys, e.g, traded on pinksheets for years after the ceo said it was dead. Etoys really was dead, and never rose.
Posts: 726 | From: Delta Quadrant, Borg Cube 01 | Registered: Dec 2005
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quote:Originally posted by 7 of 9: Major Stock Markets, US
NYSE Nasdaq + AMEX
Nasdaq was formed by a bunch of brokers and mms, and is totally computer driven, unlike NYSE.
OTCBB is a part of Nasdaq. A long time ago there was a "counter" somewhere in my where brokers could trade "Over Tthe Counter" stock certificates. Its all on computers these days.
OTCBB stocks must file at least quarterly financial statements. You can see all of these at pinksheets.com. They are 10Q, and 10K (yearly). OTCBB stocks do not have to file anything else.
Before and after SarbOx, if a CEO lies in the quarter statements, they can go to jail. They tend not to lie.
Pinksheets (pinkies) These pinkie cos mostly were once OTCBB stocks, but no longer. Pinkies do not file anything, and so are divorced from Nasdaq and the SEC. In 99% of cases, the reason pinkies dont file is bcs. they are shut down. It would be pointless to file, and there is always the threat of jail. The pinksheets and pinksheets.com are owned by 1 NASD member, as a business. Pinkies file and address and phone, the xfer agent, the CEO, and not much else. Pinksheets will never know the OS, for example, only the transfer agent does. You can get info about any co on pinksheets.com, not just pinkies.
In general, pinkies dont have L2 quotes so dont look for them. On Ameritrade at least, i can sometimes get real time L1 quotes on pinks, maybe. All the data on pinkisheets.com is delayed, so watch out.
There are a large number of good foreign cos like Nestle that trade on the pinkies bsc. they dont want to file in the US. Therefore, pinkies really are legit. Fake shares cannot be created.
Grey Sheets, the "Other OTC". These are cos (just a cusp no. really) that are traded but have not paid the fees to be on pinksheets. They are at the very bottom.
In general, any OTC, Pink or Gray stocks are NOT investments and are not suitable for most investors.
99.9% of OTC/Pink cos. are shells w/o operations.
I hope this helps.
7
Very much. Thanks!
-------------------- It's choice - not chance - that determines your destiny. Posts: 350 | From: Portland, Oregon | Registered: Jan 2005
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