posted
The R/S was to be expected as I have been posting all along. The issue is whether to get out before the r/s or not. Thats a tough call to make. I am in r/s or not as I have anticiptaed going long with this and will ride this through for a few years.
Even with the r/s and moving to the new board will not be a garuntee of a windfall in the immediate future. There will however be an oportunity to make back some of the losses that have occured for some including myself with the move to otcb for the first few weeks but how much I can only guess.
As I have stated many times the stock market is like going to the casinos and pulling the slots sometimes your a winner and sometimes your not.
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posted
RS can be good or bad,depending.It is bad when there is no audit.It is good when Ed shows a decent audit with profit and the value of the assets.If the assets are worth 2 mil,the new pps will stay at 0.02 or more.It just can't be lower because we know the book value of the company.One thing is for sure,with the rs,the pps will move,for better or worse.
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quote:Originally posted by mv: If the assets are worth 2 mil,the new pps will stay at 0.02 or more.It just can't be lower because we know the book value of the company.
IBAC Corporation Reports January & February Revenues Monday March 6, 8:58 am ET
NEW YORK--(BUSINESS WIRE)--March 6, 2006--IBAC Corporation (ICAN.PK) today announced revenues for the months of January & February 2006 for The Sanibel Restaurant Group, Memphis Days Inn Hotel and The Royal Arkansas Hotel & Suites of $585,690.35 combined. These revenue figures are compiled from internal company accounting/bookkeeping and are subject to audit by the company's independent accountants/auditors.
For the months, The Sanibel Restaurant Group revenues were below the same time last year due to reduced traffic created by less than normal winter visitors to the restaurants local area, we anticipate a return to normal revenues this month as winter visitors seems to be normalizing. The company also has a sponsorship/advertising deal with the Boston Red Sox at their winter home field in Ft Myers & the Barbara B Mann Theater that will bring greater visibility and business to the restaurant. The Royal Arkansas Hotel & Suites had a gain over last year on increased banquet sales and room sales for the two months and we expect to see revenue to continue an increase for March. The Memphis Days Inn Hotel had an increase of revenues over the same period last year (The Company did not own the property last year this time).
"The company after the completed 1 for 80 reverse split and the reduction of the authorized common shares the company plans to hold the difference of 350 Million common shares in its treasury for additional value creation i.e. acquisitions and has no intention of selling/diluting them into the market via a regdex/504 or any type of debenture, thus the outstanding common shares will remain at 150 million. The company is working diligently on completion of its audited financial statements and building increased value of its existing assets while reviewing certain additional acquisitions, these steps are being taken in anticipation of stepping up to the OTCBB." Said Wayne Burmaster President & COO IBAC Corporation
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
posted
So, I'm guessing, since the company is still not reporting, the revenues are around 100K in reduced revenues for both months. For an organization of this size I'd think thats a pretty fair hair cut.
-------------------- It's choice - not chance - that determines your destiny.
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imakmony2005
unregistered
posted
awhole lota volume just sells?? jumping before the r/s.
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I'm confused by this line " The company also approved a reduction of its authorized common shares from 12 Billion to 500 Million shares , with this action the Board believes it will bring the capitalization in line with the true value of the company and allow greater opportunity for growth of the share price. "
Does this mean the RS would not have effected the AS but that they are reducing it themselves to 500 million after the split?
-------------------- If you made money, it was a good trade
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imakmony2005
unregistered
posted
yes but then do they issue more shares aftar the r/s.
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quote:Originally posted by unreal33: So should I dump my shares at a loss or hold on through the R/S?
Here is my conservative prediction. On Friday your shares will go from .0001 to .0080 By Wednesday next week they will be worth less than .005 If it did go down to .005 that would put your todays share value at .000062 Thats almost a 50% loss. You'd be better getting out now and jumping back in after the fall.
Almost 10% of the OS has been sold off today already. By Friday I would imagine close to 50% will have been sold off. Only die-hard longers will be left on Monday morning and some of them will lose nerve and start to sell bringing the new price down.
My guess is by Friday next week we could see .003 But I could be wrong and frequently am... I'm selling and waiting to see how low it goes. I am 99% sure it will go down in price after the RS, they almost always do.
-------------------- If you made money, it was a good trade
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quote:Originally posted by TalonSin: Does a RS not effect the AS?
I'm confused by this line " The company also approved a reduction of its authorized common shares from 12 Billion to 500 Million shares , with this action the Board believes it will bring the capitalization in line with the true value of the company and allow greater opportunity for growth of the share price. "
Does this mean the RS would not have effected the AS but that they are reducing it themselves to 500 million after the split?
Yep. They say that they reduce it, but if you compare it to the current AS, you have to multiply the 500 million with 80.
So bsicaaly the statement is :
We cheat on you by adding 28 billion shares, but since we're doing a RS you'll not see it. 28 billion will be 350 million in the new set up.
Thx Ed ! Thx for being totally dishonest with us.
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posted
hopefully you sold this morning because they were buying at .0001. now thier is no one on the bid and ask is .0001. damn hayter is a crook and a lier plain and simple
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posted
rs does not affect the a/s. that is how some of these company's continue cash flow. james river perfect example 2 rs 1 2000 in a short period of time so they could have more shares to dilute. sorry not trying to bash but i am mad and disapointed as hell
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posted
The problem here is everyone listened to this guy Ed.Do you really think this guy is going to tell us his company S****.These sub penny stocks go by differant rules.have you ever heard a ceo tell us don't buy our company stinks.Lets just chalk it up to a bad investment and make some money elsewhere.
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posted
Not so soon.There will be more twists and turns to the Ican story.There are opportunities in despair.What if they release an audit?or move to otcbb?In that case,a bad investment means we sell too prematurely.
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posted
well i truly wish you all luck i stayed in this for a long time i had 20 million shares i sold them all for a substantial loss unfortunately. my hope for those of you that hold this through the r/s is that the shares skyrocket. it seems to me that 95 times out of 100 this doesnt happen but on occasion like gmoc stocks can go up substantially on no news after a r/s. i sold gmoc also for a loss as to not ride the r/s after the r/s the stock went up i think 5 fold it has settled down now but it is possible that after the split the stock opens around .008 and rallies up to .03 cents. good luck to you all ill be waiting for a pullback after the r/s then ill try to enter at around .0035 or so.
i chanted i think ican i think ican for a long time but ed just didnt make me a proud shareholder that is for sure. i really hope i am wrong though and it rallies for ya.
-------------------- gotta know when to hold em and when to ..........
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posted
I guess i was really lucky got in at .0001 and get out at .0001. well i guess i could stay and look for some run after the R/s but like noah129 said 95 percent i think is 99 percent of time stock price goes down. so take a loss of 20 dollars commision.
GLTA
-------------------- Remeber! 99% of penney stocks are scams, but with only that 1% you can be rich
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posted
mm's need to make sure every thing is in order before the r/s if they have shorted this in any way they need to make sure they have the shares before the r/s happens. posible they are buying the shares but who knows
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posted
More than a bil shares have been bought since monday.There is still a lot of interest in Ican.If Ed releases some good news,the pps will go up many folds.I wonder if the guys who bought have insiders' information.That is a lot of money to speculate.
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posted
Well all Im in for the r/s only holding a tad over 3 mil lets see how bad I get beaten up..... Sigh I'm never ever getting these kids out of my house and into a center.... ugh
-------------------- 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
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posted
Do you guys thinks Ed will let the pps drop like a rock?He is running Ican for what?Money.It got to be money.He wants to use the 350 mil shares to acquire new assets.If the pps is low,nobody wants those shares.He got to boost the pps somehow.
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posted
I hate being stuck in a r/s I always come out under the bottom of a 10 ton cement slab
-------------------- 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
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posted
So is this R/S supposed to take place before trading tomorrow or after hours tomorrow? Not that it matters much, but I'd much rather this to happen already and go through the pains now. I hate the waiting game.
-------------------- It's choice - not chance - that determines your destiny.
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-------------------- 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
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posted
Related Quotes Sym. Price Chg. ICAN Trade News 0 0 IBAC Corporation New Ticker Symbol Will Be Effective at the Open of the Market on 3/10/2006, and the New Symbol for the Company Will Be IBCX
March 09, 2006 21:09:01 (ET)
NEW YORK, Mar 09, 2006 (BUSINESS WIRE) -- IBAC Corporation (ICAN:PK) has a new ticker symbol (IBCX:PK) for its stock, effective Friday March 10, 2006 at the commencement of trading.
The NASDAQ Stock Market assigns a new ticker symbol when a company undertakes a reverse split of its stock.
As a result of the reverse-split, every 80 shares of company's common stock will be changed into one share of common stock. The reverse split affects all shares of common stock outstanding before Friday. The company will issue an additional share of common stock in lieu of fractional shares.
"This is the first step in restructuring the company for the anticipated growth and plans going forward, I reiterate that the company will have 150 million common shares outstanding and a total of 500 million common shares authorized, the 350 million common share difference will remain in the company's treasury and will not be liquidated. The next phase of this restructuring will be the completion of the audited financial statements and then filing to trade on the OTCBB. The company has several potential acquisitions that it is reviewing and will be determining which of those it will acquire in the very near term," said Wayne Burmaster President & COO IBAC Corporation.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: IBAC Corporation
-------------------- It's choice - not chance - that determines your destiny.
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posted
i'm sure we will see a lot of movement both up and down today on speculation. then it will slowly go way down over time. good luck to all. i'm riding the ship with mrs. ruth.
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posted
Well Nomar here we go hun...... Stuffing pillows to cushion the blows..... And of course Scottrade is going to be pokey about getting my shares in order from the r/s & name change. I reallyyyyyyyyy hate this.....
-------------------- 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
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