quote:Originally posted by stockguy123: Another P&D scam pr, I hope you're smart enough to take your gain this time. It will be down for sure soon
LOL, Stockguy. This just shows you know nothing about this stock. This is all part of Ed's plan and if you had been listening to his talks you would know this. This is no P&D, this is just part of the process of moving assets to the OTCBB. He is doing this so when he announces the dividend that the dividend shares aren't diluted and that the new OTCBB stock retains it's current pps or at least close to it. Don't go crying now because you now see the boat pulling out and you missed it. Better get out your life preserver and try to make a swim for it before it gets too far away, LOL.
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He must have pretty close to his 500 Million shares to announce this because he basically has retired all of his restricted shares and he wouldn't have announced that if he didn't know that he still had majority control of the stock.
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123 MAYBE YOU WERE RIGHT I HAD BETTER START SELLING NOW HUH HAHAHAHAHAHAHAHAHA OH WAIT A MIN. .0008 MAYBE ILL HOLD ON FOR A FEW HAHAHAHAHA
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quote:Originally posted by Leardron: He must have pretty close to his 500 Million shares to announce this because he basically has retired all of his restricted shares and he wouldn't have announced that if he didn't know that he still had majority control of the stock.
The pr states that he is getting preferred majority voting stocks in exchange for the common shares.
This is GREAT news for us investors. Yes, investors, not traders
-------------------- A day without dreams is just a nightmare!
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IBAC Corporation to Retire Six Billion Common Shares for the Intent to Offer the Common Shareholders Dividends Wednesday March 9, 12:17 pm ET
NEW YORK--(BUSINESS WIRE)--March 9, 2005--IBAC Corporation, (Pink Sheets:ICAN - News) announced today that it's CEO, Mr. Edward W Hayter, will retire 6,000,000,000 shares of his personal ICAN common stock in exchange for a class of preferred stock.
The Company's intent is to offer dividends to the common stock holders, which dividends will not be offered to the insider preferred shareholders. This measure is taking place to position the company for an eventual sale or merger of one or more of its subsidiaries to a fully reporting OTCBB company.
IBAC Corporations board of directors has agreed to retire the ICAN shares to the treasury. The 6,000,000,000 shares are ICAN common stock. Mr. Hayter will obtain a class of preferred stock with majority voting rights. The retirement of the stock will occur within the next month and is subject to all SEC and regulatory statues.
"This non-dilutive measure will bring an increased value to our shareholders," said Hayter. "Our long term plans include negotiating and putting contracts into place to ensure longevity for our company and, as this occurs, we will take steps to bring further value to our shareholders."
About IBAC Corporation
IBAC Corporation, a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group / National Hospitality Management Service/ The Royal Entertainment Group and The Royal Arkansas Hotel & Suites IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release. Contact:
quote:Originally posted by justplayin: Wow, a divy, SWEET
Yea, what is nice about this PR is he is saying that the preferred shares he is getting in exchange for the restricted shares will not be included in the OTCBB stock dividend. That means just the current float of 1.3 Billion shares will be included in the stock dividend.
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By the way , where is Stockguy , drowning his sorrows in copious amounts of Tequilla probably , dreaming about what could have been . This should shut him up for good , i said it before , the bashers are losing more and more power because of the patient and informed .
Think it's time for whoever paid him to get a refund ?
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Has anyone gotten any more clarification as to how the shares of the spinoff will be divied out to current ican holders?
-------------------- It's easy to sit there and say you'd like to have more money. And I guess that's what I like about it. It's easy. Just sitting there, rocking back and forth, wanting that money. --Jack Handy Deep Thoughts
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quote:Originally posted by tuckermen: Has anyone gotten any more clarification as to how the shares of the spinoff will be divied out to current ican holders?
You'll never get any specific information until he actually announces what the dividend will be. All he has said is that the current OTCBB stock that he wants to spin off to is at a pps of $2.00. He said he wants to try to maintain that value after the dividend is given out. He doesn't want this new stock to become another penny stock. Therefore I can imagine one thing is that the O/S of this new stock is relatively low. The nice thing about this PR is that he just helped that ratio between ICAN shares and the new stocks shares greatly. With this news, this stock is even more undervalued than before.
Example, let's say that the current O/S of the new stock is 13 million shares (just for arguement sake and I believe that is will probably be around there) and ICAN will now be down to the float which is 1.3 Billion. That means he would give out 1 share of the OTCBB stock for every 100 shares of ICAN. The huge part of this is lets say you have 10 Million shares of ICAN currently. That means you will get 100,000 shares of the new stock at $2.00 pps or $200,000! Again, just a theory but I don't think it is that far off.
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Thanks Leardron, I tend to agree with your speculation, and with that being said, that puts a pps of ican shares at about 0.02 Like you said, I guess we will just have to wait and see. I for one think it is well worth the risk.
-------------------- It's easy to sit there and say you'd like to have more money. And I guess that's what I like about it. It's easy. Just sitting there, rocking back and forth, wanting that money. --Jack Handy Deep Thoughts
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I believe the stock dividend would be more along the lines of this:
If you own $500 of ICAN, you will receive $500 (or some $ amount less than $500) in the new stock. In this scenario you would receive 250 shares of the new stock.
If they do what you are speculating Leardron, there would be a record sell-off of the new stock which they do not want…
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Are you saying 500 dollars original investment or 500 dollars current worth at time of spin-off?
What I am asking is say you invested 500 today, and then 3 weeks from now the spin off is announced and the price of ican is 10fold higher, so now you have 5000. Would you get 250 shares or 2500 shares. Just wondering. Thanks.
-------------------- It's easy to sit there and say you'd like to have more money. And I guess that's what I like about it. It's easy. Just sitting there, rocking back and forth, wanting that money. --Jack Handy Deep Thoughts
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quote:Originally posted by tntrader: I believe the stock dividend would be more along the lines of this:
If you own $500 of ICAN, you will receive $500 (or some $ amount less than $500) in the new stock. In this scenario you would receive 250 shares of the new stock.
If they do what you are speculating Leardron, there would be a record sell-off of the new stock which they do not want…
That's a possibility too. There is a problem with that scenerio though. If the current pps doesn't go up that much from now till the dividend you are going to hardly give out any shares to the share holder. For example let's say the pps is at .002 when they pay the dividend. That means that the whole holdings of ICAN is only worth 2.6 Million dollars which means that you are only going to give out 1.3 million shares of the stock to the share holders at $2.00 per share. That seems extremely low and I doubt that the o/s of the new OTCBB stock would only be 1.3 million shares.
Plus I would think that he would have to announce at the time of the declaration of the dividend what the dividend amount would be. In my example I was being generous at saying .002 pps. I don't think you will see that till after the announcement is made. I think this will stay around .007 to .001 until that time. Which will make ICAN even worth less at the time of the annoucement. Unless the pps really starts moving I don't realistically see him being able to do it by the value scenerio.
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WOWWWWWWWWWWWWWW LOTS OF GOOOD NEWS....HOLDINHG LONG HERE... :-)
-------------------- Do not believe in anything simply because you have heard it or it is spoken and rumored by many. But after observation and analysis,when you find that anything agrees with reason And is conducive to the good and benefit of one and all, then accept it
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COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
IBAC Corporation to Meet with Counsel to Finalize Exact Details of Sale/Merger of Subsidiary and Shareholder Dividends
NEW YORK, Mar 09, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets: ICAN) announced today that they will be meeting with counsel to discuss the best and final strategy of the sale/merger of one or all of IBAC's subsidiaries to a fully reporting, OTCBB listed company. "We will be meeting with specialists and counsel in the coming weeks to finalize the most effective way to complete the sale/merger and dividends distribution," said Edward W. Hayter. "Our company is experiencing exceptional growth and will continue to strive towards maximum value for our shareholders."
Mr. Hayter will be interviewed tomorrow, March 10, 2005, by www.******************.com at 1:30 pm with the interview available to listen to the above mentioned.
The Company's intent is to offer dividends to the common stock holders, which dividends will not be offered to the insider preferred shareholders.
About IBAC Corporation
IBAC Corporation is a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group/National Hospitality Management Service/The Royal Entertainment Group and The Royal Arkansas Hotel & Suites, IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward-Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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Stockguy. I think you better start swimming after the boat a little faster. Ed isn't playing around anymore. Wall Street Reporter is another big step.
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This is sure starting to be like the MLON scam. Remember all those pump pr's MLON was putting out, this sure looks the same. Got to wonder if this might get a SEC halt. Oh well, its been a good P&D, hope you guys are cashing in.. don't be a bagholder
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quote:Originally posted by stockguy123: This is sure starting to be like the MLON scam. Remember all those pump pr's MLON was putting out, this sure looks the same. Got to wonder if this might get a SEC halt. Oh well, its been a good P&D, hope you guys are cashing in.. don't be a bagholder
Hmm, I don't recall the CEO of MLON talking to his share holders on a regular basis answering all their questions. I also don't remember the CEO of MLON going on a web publication that has over 45 Million viewers per month to open himself up to questions. This is no scam and I will be laughing all the way to the bank once it falls into place.
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MLON is just paper company....one cant compare MLON with ICAN(IBAC)
-------------------- Do not believe in anything simply because you have heard it or it is spoken and rumored by many. But after observation and analysis,when you find that anything agrees with reason And is conducive to the good and benefit of one and all, then accept it
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Looks like you're not going to see that .0003 or below this week, or maybe not for a long time stockguy123. Hope you made money on something else.
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Just bought another 1.5 mil. My guess is once we pass .001 it will be cool sailing from there. The hardest part is usually getting past the 3 0's.
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