The Following is a complete history of Ibac Corporation (Pink Sheets:ICAN) starting with the most recent announcement.
3/9/05 IBAC Corporation (Pink Sheets: ICAN) announced today that they will be meeting with counsel to discuss the best and final strategy of the sale/merger of one or all of IBAC's subsidiaries to a fully reporting, OTCBB listed company.
"We will be meeting with specialists and counsel in the coming weeks to finalize the most effective way to complete the sale/merger and dividends distribution," said Edward W. Hayter. "Our company is experiencing exceptional growth and will continue to strive towards maximum value for our shareholders."
Mr. Hayter will be interviewed tomorrow, March 10, 2005, by www.******************.com at 1:30 pm with the interview available to listen to the above mentioned.
The Company's intent is to offer dividends to the common stock holders, which dividends will not be offered to the insider preferred shareholders.
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3/9/05 IBAC Corporation, (Pink Sheets:ICAN) announced today that it's CEO, Mr. Edward W Hayter, will retire 6,000,000,000 shares of his personal ICAN common stock in exchange for a class of preferred stock.
The Company's intent is to offer dividends to the common stock holders, which dividends will not be offered to the insider preferred shareholders. This measure is taking place to position the company for an eventual sale or merger of one or more of its subsidiaries to a fully reporting OTCBB company.
IBAC Corporations board of directors has agreed to retire the ICAN shares to the treasury. The 6,000,000,000 shares are ICAN common stock. Mr. Hayter will obtain a class of preferred stock with majority voting rights. The retirement of the stock will occur within the next month and is subject to all SEC and regulatory statues.
"This non-dilutive measure will bring an increased value to our shareholders," said Hayter. "Our long term plans include negotiating and putting contracts into place to ensure longevity for our company and, as this occurs, we will take steps to bring further value to our shareholders."
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3/7/05 IBAC Corp (ICAN) Is seeking joint venture partners and licensing agreements for its Sanibel Steakhouse Brand throughout major cities across the country.
The Sanibel Restaurant Group management has determined to accelerate growth they will embark on an aggressive plan to seek qualified candidates to license or joint venture new or to convert existing properties for our brand in major cities, the company will work in three phases with its first efforts being the eastern third of the country with emphasis on major cities within the states of New York, Pennsylvania, New Jersey, Connecticut, Ohio, Georgia and other cities within Florida the second phase will concentrate on the middle third of the country and the final phase being the western third of the country. The company is seeking a minimum of ten properties per phase initially.
"We look forward to this added strategy for growth as another avenue to achieve our goals of increased revenue and locations, we will use this formula to grow the company aggressively and continue to seek additional synergistic properties through mergers or acquisitions to maximize revenues," said Karl Wenzel President, The Sanibel Restaurant Group.
Mar 2 2005 IBAC Corporation (Pink Sheets:ICAN) today reported February 2005 revenues of $415,971.98 combined for The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites compared to January combined revenues of $245,872.27.
For the month, The Sanibel Restaurant Group revenues increased $108,364.90, or a 44 percent gain, over the same period last year. The Royal Arkansas Hotel & Suites revenues increased $95,616.00 or a 56 percent gain over the same period last year. (The company did not own them last year)These revenue figures are compiled from internal company accounting/bookkeeping and are subject to an audit by the company's independent accountants/auditors.
"We are very pleased with the operating results of these two subsidiaries and attribute the growth in revenues to the management capabilities of Mr. Karl Wenzel and Mr. Gary Becker respectfully. The significant growth was achieved because of the company's ability to recognize undervalued and mismanaged properties along with its ability to make acquisitions of such properties rather quickly. We will continue to use this formula to grow the company and continue to seek additional synergistic properties through mergers, acquisitions or the creation of new entities to maximize revenues," said Edward W. Hayter President & CEO.
The company's other two subsidiary's National Hospitality Management Services which holds the contract for all food, beverage, catering & concessions at The Pine Bluff Convention Center had only a partial month of income and will be reported within the March revenues, The Royal Entertainment Group had no revenues as it has recently established and will report revenues as the are received on a monthly basis.
The Company also intends to complete the already contracted acquisitions of the Bonita Springs property within 90 days and the Naples property within 120 days.
Feb 24, 2005 IBAC Corporation (Pink Sheets: ICAN), two leading financial services companies have provided The Royal Arkansas Hotel & Suites, Inc. additional credit facilities creating a combined $1 million dollar credit facility available to the company, to be designated as a standby working capital line of credit and a new term loan.
"We are pleased to enter into a new banking relationship with Simmons First National Bank and our continued relationship with Zions National Bank, our company is very pleased with the additional credit facilities as this will help us foster our growth, we are firm believers in the value of securing debt capital as an adjunct to equity financing, so we are delighted to have received these additional credit facilities, we considered a couple of alternatives when it came to choosing banking partners, but we came to the conclusion that these financial institutions are the right institutions for us," said Gary Becker, President The Royal Arkansas Hotel & Suites.
The company has retained the Reed Architectural Firm to design certain exterior and interior upgrades to the Hotel & Restaurants, a new state of the art ($75,000.00) phone system has also been recently installed and bids are being excepted for 300 new televisions and other upgrades as part of an ongoing project to enhance the property value and provide maximum comfort for our guests.
FEB 23 2005 IBAC Corporation Completes the Formation of a Wholly Owned Entertainment Subsidiary IBAC Corporation (Pink Sheets:ICAN) today announced the formation of a wholly owned entertainment subsidiary named The Royal Entertainment Group, Inc.
"We are very excited about the formation of this new entity, as we will be using this subsidiary to book concerts and events into the Pine Bluff Convention/Arena Complex, thus increasing traffic to the complex and the company's restaurants, bars, concessions at the convention center and hotel. We are currently negotiating dates with such artists as BB King, Ashford & Simpson, Al Jarreau, Roberta Flack and other acts with the intent of producing at least one show every six weeks or so. It is the company's intent to maximize its revenue stream through out the entire complex," said Edward W. Hayter President.
The Newly formed subsidiary will be responsible for bringing first class entertainment to the complex in the form of plays, music , sporting and other events. Currently the company is working on a full slate of events for the remainder of the 2005 season with offers pending on several shows and events, as this will create another source of revenue to the company while enhancing traffic to the complex.
FEB 22 2005 International Broadcasting Corporation Announces New Sponsor for ``Stock Talk LIVE'' Radio Show: IBAC Corporation International Broadcasting Corporation ( IBCS ), announced today that it has signed on a new sponsor for its radio talk show "Stock Talk LIVE." IBAC Corporation ( ICAN ) is the latest sponsor for the show. "Stock Talk LIVE" is a fully interactive business radio talk show focused exclusively on micro-cap stocks. The show is "on-the-air" each and every stock market day from 9:30 AM to 4 PM EST.
Interactivity, interesting guests, and significant short-term trading opportunities are featured in each edition of "Stock Talk LIVE." Interviews, commercials, and news updates about IBAC Corporation will air on the show. IBAC Corporation will also get additional exposure on other programs that air on the IBC Radio Network.
Feb 18, 2005 IBAC Corporation CEO T address shareholder during question and answer session on "PalYalk"
Dan York Administrator for www.paltalk.com Sterling's Classroom today announced that he has invited IBAC Corporation (Pink Sheets: ICAN), Management to participate in their free public forum for a question and answer session on Tuesday February 22, 2005 at 9PM EST. Edward W. Hayter, the Company's President and Chief Executive Officer, has accepted the invitation.
"I look forward to addressing any and all questions or comments regarding our company from shareholders and non shareholders alike, as this will give me the opportunity to set the record straight on many issues regarding our company and the company's plans moving forward," said Edward W. Hayter President & CEO.
For all interested if you are not a member of Paltalk already you can download a version of the required software for free at: http://www.paltalk.com/PalTalkSite/ ___________________________________________________________
Feb 17, 2005 IBAC Corporation (ICAN.PK) is in discussions with a Company to sell certain assets of IBAC. In the event that an agreement is reached, the subject assets would be sold in exchange for stock in a public entity trading on the bulletin board market. The public entity would be required to register the stock for distribution to the IBAC shareholders.
The discussions have not been solidified into a formal agreement as of yet, but are proceeding quickly. Any agreement will be subject to proper regulatory approvals and shareholder's consents. Moreover, the transaction would also be subject to an audit of IBAC's financial statements and an appraisal of the assets which would be subject to the sale.
IBAC has already retained an auditor, as previously announced, and intends to distribute an annual report to its shareholders upon completion of its financial statements, regardless of the potential transaction.
IBAC Corporation currently operates through its majority owned subsidiaries National Hospitality Management Services, The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites the company has some 95 employees and with the addition of the two contracted Sanibel Steakhouses in the near future the company will then have some 175 to 200 employees. ___________________________________________________________
Feb 16, 2005 IBAC Corp announces that it has agreed in principle to spin off some or all of its assets to an otcbb company subject to all regulatory approvals & SEC filing requirements.
"The spin off of assets should result in a premium to shareholders (to be determined) once the transaction is completed. The terms and conditions of the spin off will be made public upon completion of agreements along with the otcbb company and symbol. The company intends to execute this agreement as a stock dividend with free trading shares of a fully reporting OTCBB company to ICAN shareholders with the effective date to be announced in the near future. The agreement is subject to completion of audited financials of IBAC's assets and all SEC requirements. " Said Edward W Hayter President & CEO
Feb 10, 2005 IBAC Corporation (ICAN:PK) today announced the completed acquisition of a majority interest in The Royal Arkansas Hotel & Suites. The acquisition was completed at the law offices of Legal & Compliance, LLC of West Palm Beach, Florida
"We are very pleased with the speed at which this acquisition has been completed with a very special thanks to Laura Anthony, Esq, The Royal Arkansas Hotel & Suites will now be under the IBAC umbrella as a majority owned subsidiary of the company as we continue to grow our company." Said Edward W. Hayter- President ___________________________________________________________
Feb 9, 2005 IBAC Corporation (Pink Sheets:ICAN) today announced the formation of an entertainment subsidiary to be named Royal Arkansas Productions, Inc.
"We are very excited about the formation of this new entity, as we plan on using this subsidiary to book concerts and events into the Pine Bluff Convention/Arena Complex, thus increasing traffic to the complex and the company's restaurants, bars, concessions at the convention center and hotel. We are currently negotiating dates with such artists as BB King, Ashford & Simpson, Al Jarreau, Roberta Flack and other acts with the intent of producing at least one show every six weeks or so. It is the company's intent to maximize its revenue stream through out the entire complex," said Edward W. Hayter President.
The company is in the initial stages of having an audit performed for the purpose of becoming a fully reporting entity with the intent of either becoming listed on the OTCBB or Nasdaq Small Cap Exchanges.
The company continues to aggressively seek additional synergistic acquisitions or mergers to enhance assets and revenue stream while it negotiates some current prospects.
Feb 7, 2005 IBAC Corporation (ICAN:PK) today announced the closing date for The Royal Arkansas Hotel & Suites. The closing is scheduled on or before March 1, 2005 upon completed contracts due this week.
"We are very excited about this asset coming into our fast growing company as it will add some 3 to 4 million dollars a year in revenue and enhance our presence within the Pine Bluff Convention Center Complex, along with other current assets this will bring our projected revenues to 7 to 8 Million for this year as the company stands right now. Upon closing the two other contracted Sanibel Steakhouses by years end this will give the company another 5 to 6 Million in revenues over all giving the company through its subsidiaries a combined revenue stream of some 12 to 14 Million dollars per year, we are keeping within are stated strategy of aggressive growth over the next three years ." said Edward W Hayter President
Feb 3, 2005 IBAC Corporation (PINK SHEETS: ICAN), a leading food & beverage/restaurant company today announced that Edward W Hayter, the Company's President and Chief Executive Officer, is purchasing additional stock from the open market for his personal account. Mr. Hayter intends to purchase stock on the open market in accordance with SEC Rule 10b-18.
Mr. Hayter said, "I have strong confidence in IBAC and believe, given our current position, our stock is undervalued and I intend to accumulate up to 500,000,000 shares to add to my portfolio in the near term."
Mr. Hayter added, "With our current assets and revenue stream along with the addition of The Royal Arkansas Hotel & Suites we have shown solid growth and the current quarter looks very good. Along with other prospects I believe our future will be a surprise to the marketplace.
Feb 2, 2005 IBAC Corporation (PINK SHEETS:ICAN) today announced that they have entered into a definitive letter of intent whereby IBAC will acquire a majority control interest in The Royal Arkansas Hotel & Suites, Inc. the transaction is subject to a definitive agreement and all regulatory approvals.
The Royal Arkansas Hotel & Suites is a 200 room five story atrium Hotel on the grounds of the Pine Bluff Convention Center and is attached to the Convention Center. The Hotel features an indoor swimming pool two restaurants a lounge and 10,000 square feet of banquet space and 4000 sq feet of rent able office space in the lobby area. The hotel has a 23M dollar replacement value and was built in 1989 by Kemmons Wilson the founder of Holiday Inn and is approximately 180,000 square feet in size and holds a full liquor license.
The Pine Bluff Convention Center ( www. pinebluffonline.com) has 90,000 square feet of meeting and exhibit space, the Convention Center is the fourth largest meeting facility in the state of Arkansas. This colossal center features a state-of-the-art arena, an auditorium/theater, banquet hall, spacious lobby area, ample parking, full camper hookups, a beautiful park and the Arkansas Entertainers Hall of Fame.
" We have decided on this acquisition to enhance our holdings in Arkansas as IBAC thru its subsidiary National Hospitality Management Services already holds a (5) year contract with (4) renewable (5) year options for the food beverage, concession & banquet services at the convention center and also manages the food, beverage and banquet operations of the hotel. I am very excited about this acquisition as it gives IBAC exclusive revenue from everyone eating, drinking and lodging in the entire convention center complex to IBAC," said Edward W Hayter President
The Royal Arkansas Hotel & Suites is jointly owned by Turner Hughes Corporation and International Hotel Management. Turner Hughes Corporation is a private Investment Banking Firm owned by Edward W Hayter President of IBAC Corporation.
The company also keeping with its aggressive plan for growth over the next three years is in the preliminary stages of negotiating an acquisition of a chain of restaurants in Arkansas that has revenues of 13.5M per year with an EBITA of approximately 1.4M.
Jan 27, 2005 IBAC Corporation (Pink Sheets:ICAN) has recently rejected an offer from a company to purchase The Sanibel Restaurant Group. The potential purchaser valued the offer at $8.45 million, but this valuation was never substantiated by any form of independent review.
The unsolicited oral offer consisted of $1,000,000 cash at closing and a share for share exchange or stock swap agreement with the IBAC shareholders for shares in an OTC Bulletin Board company.
The offer did not contain a bid price per share and was not a tender offer.
IBAC's board of directors believes that the value of its current holdings will increase substantially once the company executes certain contracts and takes possession of two additional restaurants. It is IBAC's opinion that the combined value of the three restaurants with the business of its subsidiary National Hospitality Management will be more beneficial to the company, future growth, and the overall well-being of its shareholders.
Jan 26, 2005 National Hospitality Management Services a subsidiary of IBAC Corporation (PINK SHEETS: ICAN) and the Pine Bluff Civic Auditorium Complex Commission ( www.pinebluffonline.com) will hold a joint press conference on Thursday, January 27, to announce the awarding of the Exclusive Food, Beverage, Banquet Catering and Concession Agreement for the entire complex to National Hospitality Management Services.
The term of the contract is for (5) years with (4) successive options to renew for a term of (5) years each. The commission also agreed that it will not permit the sale of food, beverage, banquet, catering and concession services at the Convention Center by any other person, firm corporation, or entity other than National Hospitality Management Services while the agreement is in effect. The commission also granted the company exclusive rights the Banquet Hall Kitchen and all equipment.
"We are extremely excited about the awarding of this contract to our company as it will increase revenues by 4-5 million dollars and increase our operations in Arkansas above our existing (2) restaurants (1) lounge and 10,000 sq ft of banquet space." Said Gary Becker President of National Hospitality Management Services.
Jan 21, 2005 IBAC Corporation's board of directors have rejected a revised bid, saying it believes the company is worth more than 8.45M.
In citing its rejection of the revised bid, IBAC Corporation (PINK SHEETS:ICAN) said the company is currently trading at the low end of its value, based on its assets, revenue and forecasted future earnings.
The board believes the company has a better plan for stockholders. The unsolicited offer does not begin to reflect the real value, including the value we will create through management's plan to become a fully reporting company and moving up to the OTCBB or a possible reverse merger or a share swap with a fully reporting company, this in combination with the company's current revenue and assets.
"We believe that the rejection of this unsolicited offer is in the best interest of the shareholders as we are pursuing other options to enhance shareholder value, the company is currently preparing audited financials and have instructed the company's attorneys to review two proposed offers of a merger or stock swap with fully reporting companies," said Edward W. Hayter CEO.
The revised bid also valued the company at a price below the rate currently being paid in other transactions in the restaurant/food & beverage industry, IBAC stated.
Jan 18, 2005 National Hospitality Management Services Co. a subsidiary of IBAC Corporation (Pink Sheets:ICAN) announced today that Mr. Barry M. Bennett has been named Executive Chef in charge to over see all banquet and food service operations.
Prior to joining National Hospitality Management Services, Mr. Bennett served as Senior Food Service Specialist for Centerpoint a leading food service management company specializing in the management of food and beverage services at larger facilities and convention centers.
Mr. Bennett has over twenty years of food service industry experience; his last assignment prior to joining National Hospitality Management Services was overseeing the opening of the new Corpus Christi, Texas Convention Center food and beverage operations. He has also overseen large operations in Florida and Texas, Mr. Bennett is a graduate of The Culinary Institute of America.
Jan 13, 2005 National Hospitality Management Services Co., Inc. a food service management/operator of restaurants, banquet facilities and food & beverage services co. a subsidiary of IBAC Corporation (ICAN.PK) today announced their updated first quarter of 2005 event calendar.
"We are very pleased with the contracted services/events so far for the first quarter", said Mr. Gary Becker President of National Hospitality Management Services Co. "We expect to be adding more events to this schedule within the next couple of weeks."
Arkansas Kennel Club, Dog and Kennel Show University of Arkansas Shrine Convention 4 Separate Quarter Horse Rodeos Future Business Leaders of America Arkansas Christian Athletics Assoc Jamboree Square Dancers Minority Initiative (UAPB) Black Pilots of America Department of Labor MPX
These contracted events represent revenue to the company in excess of $250,000.00 for the quarter.
The company today also announced that they have been awarded certain contracts for food & beverage services with a revenue value to the company of 4-5M dollars and will be announced upon executed contracts.
Jan 12, 2005 The Sanibel Restaurant Group, Inc., a subsidiary of IBAC Corporation (ICAN.PK), announced today that the Board of Directors has reviewed the offer for The Sanibel Restaurant Group, Inc. and has concluded it inadequate.
"This offer by a fully reporting public company is unsolicited and only reinforces our belief that we are undervalued as a company, the Board of Directors has reviewed the offer and have countered the terms". Said Karl Wenzel President of The Sanibel Restaurant Group.
The company countered the offer based upon the pre tax proceeds to the company. The offer valued at 6.45M would have resulted in a pre tax profit of only 1.25M to the company which is well below industry multiples.
Jan 11, 2005 The Sanibel Restaurant Group, Inc. a subsidiary of IBAC Corporation (ICAN.PK), announced today that they have reviewed the offer for The Sanibel Restaurant Group, Inc. "This offer by a fully reporting public company is unsolicited and only reinforces our belief that we are undervalued as a company, we have reviewed the offer and are negotiating the terms as the offer stands right now it has a net value to the shareholders of 0.03 per share" said Karl Wenzel, president of The Sanibel Restaurant Group, Inc.
Jan 10, 2005 The Sanibel Restaurant Group, Inc. a subsidiary of IBAC Corporation (PINK SHEETS:ICAN), announced today that it has received an unsolicited offer for The Sanibel Restaurant Group, Inc.
"This offer by a fully reporting public company is unsolicited and only reinforces our belief that we are undervalued as a company" said Karl Wenzel, president of The Sanibel Restaurant Group, Inc.
The company will review the offer and determine if it is in the best interest of the company and its shareholders, The Sanibel Restaurant Group, Inc. upon completion of its contracted obligations will have 135 employees and revenue of 7.5M per year.
Jan 4, 2005 The Sanibel Restaurant Group, a subsidiary of IBAC Corporation (ICAN.PK), announced today that it has completed the acquisition of phase one of the Sanibel Steakhouses contract as previously announced.
"This completed acquisition will add 2.5M in revenue annually to the company and 35 employees immediately, the company has taken possession of the Ft Meyers property as owner/operator effective today." said Karl Wenzel, president of The Sanibel Restaurant Group.
The second phase of the Sanibel Steakhouse acquisition is expected to be completed on or before April 1, 2005 and that will add another 3.5M in revenue and 40 employees with the third and final phase being completed on or before July 30, 2005 adding an additional 2.5M in revenue and 30 employees, total value of the completed acquisition to the company will be revenue of 8.5M per annum with 105 employees.
Through its operating companies, IBAC Corporation owns/operates and manages restaurants & food and beverage service contracts; the company intends to become a fully reporting company by the end of the second quarter of 2005 with a balance sheet directed towards the nasdaq small cap.
The company is currently negotiating other acquisitions and expect to have completed contracts very shortly. It is the intent of the company to increase its Sanibel brand throughout Florida.
Jan 3, 2005 IBAC Corporation (ICAN.PK) today announced that during a Special Meeting of the Board of Directors the Company approved retaining the services of Grubb & Ellis Company one of the nation's largest commercial real estate services firms. Through its offices and affiliates in approximately 90 markets, they provide a full range of real estate services.
"Our Company is very excited about retaining the services of Grubb & Ellis," said IBAC Corporation President & CEO Edward W. Hayter. "As this will help us accelerate our stated business plan and growth objectives. IBAC through its Sanibel Restaurant Group subsidiary intends to grow its brand by acquiring other comparable restaurants and or developing new locations."
Dec 22, 2004 IBAC Corporation (Pink Sheets:ICAN) previously announced that during a Special Meeting of the Board of Directors the Company approved an increase of a nine percent (nine share) stock dividend to be paid simultaneously with the previous announced forward split of one percent (one share).
The share dividend is a forward split and will be effective on January 7, 2005. Stockholders of record will be entitled to an additional ten shares of common stock (free trading) for each one hundred shares of common stock held on that date; shareholders of restricted shares will not receive any additional shares. The proposed forward split is subject to regulatory approval.
Dec 21, 2004 IBAC Corporation (ICAN.PK) announced yesterday after the bell that during a Special Meeting of the Board of Directors the Company approved an increase of a nine percent (nine share) stock dividend to be paid simultaneously with the previous announced dividend of one percent (one share).
The share dividend will be effective on January 7, 2005. Stockholders of record will now be entitled to an additional ten shares of common stock for each one hundred shares of common stock held on that date. The proposed stock dividend is subject to regulatory approval.
"This Ten percent (10%) stock dividend is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership, bring awareness to the company and enhance shareholder value."
The Company would also like to address certain shareholder questions and concerns that have been presented;
Regarding Mr. Richard/Chris Astrom neither man has a management or ownership position with the company as previously stated.
The company will be closing on the first of its three Sanibel Steakhouse Restaurants per the previously announced contract terms on January 4, 2005 and will take possession of that property immediately this will add revenue to the company of 2M dollars plus per year for that location.
The National Hospitality Management Services Co. subsidiary has been awarded certain contracts that will be finalized by January 15, 2005 which brings revenue to the company of approximately 4M dollars plus.
The company intends to become a fully reporting company within the next six months.
The company feels that with its current businesses and contracted acquisitions it will have a balance sheet to support a move to either the otcbb or the nasdaq small cap exchanges within the coming year.
Current Management has been in control of this company for approximately three months and intends to build the company according to their stated business plan and if any person or persons continue to liable, slander, present misinformation or otherwise act in a fashion that is detrimental to the company or its shareholders The Company will seek full retribution of the law.
Dec 20, 2004 IBAC Corporation (ICAN.PK) announced today that during a Special Meeting of the Board of Directors the Company approved an increase of a nine percent (nine share) stock dividend to be paid simultaneously with the previous announced dividend of one share.
The share dividend will be effective on January 7, 2005. Stockholders of record will now be entitled to an additional ten shares of common stock for each one hundred shares of common stock held on that date. The proposed stock dividend is subject to regulatory approval.
"This Ten percent (10%) stock dividend is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership, bring awareness to the company and enhance shareholder value."
Dec 14, 2004 IBAC Corporation (ICAN.PK) announced today the status and progress of the company's business and activities.
The record date for the forward stock split will be January 7, 2005. Stockholders will receive one additional share of common stock for each one hundred shares of common stock held on that date. The mail date for the additional shares will be February 1, 2005.
"This forward stock split is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership and enhance shareholder value."
The scheduled closing date for the first phase of The Sanibel Restaurant Group will be January 4, 2005 at that time the company will take possession of The Ft. Meyers, Florida property. This date was chosen for tax purposes by the sellers.
The company is also bidding on certain food service & concession contracts at various arenas and expects the results of these bids by January 15, 2005.
The company has revamped its web site to better reflect the companies business and to better provide information for its shareholders and customers and will be up and available for viewing by tomorrow 12/15/04.
December 8, 2004 IBAC Corporation (Pink Sheets:ICAN) announced yesterday that during a Special Meeting of the Board of Directors the Company approved a 1 for 100 forward stock split of the Company's common stock (announcement).
The forward stock split will be effective on or about January 7, 2005. (Clarification) Shareholders will get one share of common stock for each one hundred shares of common stock they own on that date. The proposed stock split is subject to regulatory approval. The company apologizes for any confusion that the announcement may have caused.
"This forward stock split is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership and enhance shareholder value."
The company has received hundreds of calls regarding several issues first and for most is the question of a reverse split the company has no plans of a reverse split, secondly the company has been asked about any involvement of a Mr. Chris Astrom and/or Mr. Richard Astrom neither men have any involvement in management or ownership of this company furthermore if anyone persists in implying this the company will pursue any and all legal remedies.
The company has also been asked are we going to do anything to get the company noticed to the investment community. The company elected to reward current shareholders with a bonus and also bring attention to the company with the same bonus for potential new investors, as the company refuses to employ any stock promoters etc. as this is not in the company's or shareholders best interest.
Dec 7, 2004 IBAC Corporation (ICAN.PK) announced today that during a Special Meeting of the Board of Directors the Company approved a 1 for 100 forward split of the Company's common stock.
The forward stock split will be effective on or about January 7, 2005. Stockholders will be entitled to one share of common stock for each one hundred shares of common stock held on that date. The proposed stock split is subject to regulatory approval
Dec 2, 2004 National Hospitality Management Services Co., Inc., a food service management/operator of restaurants and banquet facilities, a subsidiary of IBAC Corporation (ICAN.PK) today announced their first quarter of 2005 event calendar.
"We are very pleased with the bookings so far for the first quarter said Mr. Gary Becker," President & COO of National Hospitality Management Services Co. "We expect to add more events to this schedule within the next couple of weeks."
Prince Hall Grand Lodge Regional Convention (Masons) Arkansas Kennel Club, Dog and Kennel Show University of Arkansas Shrine Convention 4 Separate Quarter Horse Rodeos Future Business Leaders of America Arkansas Christian Athletics Assoc Jamboree Square Dancers Minority Initiative (UAPB) Black Pilots of America
The company today also announced that they have retained the services of Carkoff Interior Design of Memphis, Tennessee a very prominent design firm to advise on their facilities.
Nov 30, 2004 IBAC Corporation (ICAN) announced today that Mr. Gary D. Becker has been named President & Chief Operating Officer of its National Hospitality Management Services Co. subsidiary.
Prior to joining National Hospitality Management Services Co., Mr. Becker served as President of International Hotel Management Corporation of Canada a company with interests in the hospitality industry.
Mr. Becker has over twenty five years of industry experience, with service to Drake International & the award winning Royal Brock Hotel Spa & Sports Club. While receiving his Degree in Business Administration from Waterloo Lutheran University. (Honors Accounting and Economics) Mr. Becker has served as Director of several recognized organizations the Brockville Museum Board, Brockville Center for The Arts, Brockville Symphony, Brockville Chamber of Commerce, Halifax Board of Trade, Greater Boston Chamber of Commerce, and Brockville Historical Society.
Nov 29, 2004 IBAC Corporation (ICAN.PK) has completed the Acquisition of National Hospitality Management Services Co., Inc. a food service management/operator of restaurants, banquet facilities and a lounge. This follows the announcement on November 18, 2004 of the signing of agreements regarding the acquisition. IBAC Corporation will operate its majority ownership interest as a subsidiary. The acquisition has been funded with restricted securities and is expected to generate revenues immediately
Nov 18, 2004 IBAC Corporation (Pink Sheets:ICAN), a restaurant owner/operator and management company, today announced that it has signed the contracts (which are subject to due diligence) to acquire a majority interest in National Hospitality Management Services Co., Inc. as previously announced.
Nov 17, 2004 IBAC Corporation (ICAN) announced today that Mr. Karl Wenzel has been named President & Chief Operating Officer of The Sanibel Restaurant Group, Inc. Prior to joining The Sanibel Restaurant Group, Mr. Wenzel served as President of Caleric Corporation a private holding company with interests in the hospitality industry. Mr. Wenzel has over thirty years of industry experience, with service to the Marriott Corp & Royal-Caribbean Cruise Lines. While receiving his Master Chefs designation in 1971 from the famous Steigenberger Hotel & Management School. Mr. Wenzel was designated by The Chaine des Rotisseurs in Paris and is also a member of the Maitre de Cuisine of France, The Etol of Escoffier, and World Master Association in Singapore. He has also hosted television shows on PBS & The Family Channel and has authored three books published in five different languages.
Nov 16, 2004 IBAC Corporation (OTC.PK:ICAN), today announced that it has signed the contracts (which are subject to due diligence) to acquire a majority interest in National Hospitality Management Services Co., Inc. as previously announced. The acquisition consists of a management company that will operate two restaurants, lounge and over eight thousand square feet of banquet space within a major hotel. The Hotel is part of the Pine Bluff Convention Center complex in Pine Bluff, Arkansas the anticipated gross revenue to the company should be in excess of four million dollars a year.
Nov 8, 2004 IBAC Corporation (OTC:PK:ICAN) has entered into a definitive letter of intent whereby IBAC will acquire a majority control interest in National Hospitality Services Co., Inc.
Oct 25, 2004 IBAC Corporation (OTC.PK:ICAN), today announced that it has retained the services of Bagell, Josephs & Company as auditors & financial advisors. "We are pleased to engage the services of Bagell, Josephs & Company as auditors & financial advisors. As a well respected accounting & auditing firm we will rely on their expertise and experience for the current acquisition of The Sanibel Restaurant Group, Inc. and further acquisitions and/or mergers," said Edward W. Hayter, IBAC President & CEO."
Oct 20, 2004: ICAN - IBAC Corporation Has Executed Contracts to Acquire the Sanibel Restaurant Group, Inc. as Previously Announced by a Definitive Letter of Intent! The acquisition consists of three upscale steakhouses located in Ft. Meyers, Bonita Springs & Naples, Florida. The acquisition is a three phase contract with the first of the restaurants scheduled to close on or before December 31, 2004 upon completed acquisition of all three restaurants the anticipated gross revenue to the company should be in excess of eight million dollars a year.
Oct 19, 2004 IBAC Corporation (OTC.PK:ICAN), a restaurant owner/operator and management company, today announced that it has signed the contracts (which are subject to audit) to acquire a majority interest in The Sanibel Restaurant Group, Inc.
Oct 12, 2004 IBAC Corporation (OTC.PK: ICAN) announced today that it has signed an agreement with SmallCapVoice.com to assist in implementing a comprehensive investor relations program for the company. SmallCapVoice.com, Inc. Stuart T. Smith, 760-643-1946 760-643-1947 (fax)
Oct 6, 2004 IBAC Corporation (OTC:PK: ICAN) has entered into a definitive letter of intent whereby IBAC will acquire a majority control interest in The Sanibel Restaurant Group, Inc. The transaction, is subject to a definitive agreement and due diligence. Closing is expected December 2004. Edward W. Hayter president and CEO of IBAC Corporation said: "we are enthusiastic about this acquisition. It is the first phase of our business plan."
Oct 5, 2004 IBAC Corporation (Pink Sheets:ICAN) today announces that a new management team has been appointed with stock ownership in the corporation and will operate a group of premier dining establishments within IBAC Corporation. Edward W. Hayter is the new president and CEO of IBAC Corporation which trades under the symbol ICAN. Mr. Hayter said: "he is enthusiastic about the future of acquisitions & mergers into the company and enhancement of shareholder value".
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stockgirl123 it looks like u missed the boat as usual, did you have a nice swim?? i dout the sharks would eat your sorry azzzzzz!! haahahahahahahahahhhah!!!
Posts: 939 | From: hampton,va. 23666 | Registered: Oct 2004
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rickpic if you are the one that first picked ican then my hat is off to you i think that 123 should give you five stars for sure im sending you my five now Great job
Posts: 629 | From: new england | Registered: Feb 2005
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How high do you guys seriously see this thing going? I'm looking for .01, anyone else have a take on it?
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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Ricpic, if this thing hits .01 before opening day. I'll get you some Sox tickets.
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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is .0009 still a good price to get in? anyone think that there will be a retrace tomorrow?
Posts: 2741 | From: Seattle | Registered: Feb 2005
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quote:Originally posted by stockguy123: Yeah, I think you can get in @0003 if you wait
I think that you got burnt waiting for 0.0003
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow Posts: 4727 | From: Elk Grove ( Sacramento )CA USA | Registered: Jun 2004
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-------------------- 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 Posts: 305 | From: NJ | Registered: Jan 2005
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Jonathanlb8 imho i think that we could see .004 before the spin off happens but its not the stock price that im truly looking for. im looking for the spin i believe that the spin is going to be worth more than the stock price its self. to be honest that is the main reason that i bought ican stock in the first place.I also think that ICAN will be doing this again and again. imho i think this is the main reason that Ed puschased 500,000,000 shares for his personal account these shares dont belong to ICAN they belong to him so he will be also recieving the spin off for his gain as well as ours as far as the closing price goes and if this is still a good time to buy in all I can tell you is that first thing in the AM i will be increasing my posistion by two fold.,,again jmho But dont tell this to 123 hes still watching the boat sail away lol
Posts: 629 | From: new england | Registered: Feb 2005
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quote:Originally posted by skipdeez: is .0009 still a good price to get in? anyone think that there will be a retrace tomorrow?
If it doesn't retrace right after the bell, it might not for awhile. Alot of the other boards are going crazy over it now. I'd say the sooner the better when it comes to getting in on some of this.
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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My feeling is that the .0009 option may be gone prior to the open today. I could be wrong, but the buying at the end of the day yesterday tells me there was a sudden rush to get in. Between the reduction in shares due to the retirement and the upcoming dividend. My guess is that this rally is far from over. Yes I see profit takers along the way, and thats ok. I concider it smart trading to have free shares in any company. When to get even is up to each and every one of us as an individual. Is ICAN worth a hell of a lot more than this price. I believe it is. Based on the math on all assets and the projected and stated revenues. I'm glad all of you who own ICAN took the oportunity to invest in it. Ed is a straight up straight forward kinda guy, who is dead set on bringing value into this company, and hes dam good at it!
Good Luck Cheers Rick
-------------------- Nothing moves a sub like news!!! Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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If you think it's another GXXL or MLON, then take a hike. Why bother wasting your breath. No one takes you seriously anyway.
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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I'll probably still buy @0002-0003 even if its a scam, it's still good for a P&D now
Posts: 149 | From: wilmington,de,usa | Registered: Mar 2004
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What, don't you understand. .0002 ain't coming around for a long time. Post next year when it goes back down to those prices.
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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IBAC Corporation President & CEO to Be Interviewed Today by the Wall Street Reporter 3/10/2005 8:27:01 AM NEW YORK, Mar 10, 2005 (BUSINESS WIRE) -- Edward W. Hayter, President & CEO of IBAC Corporation (Pink Sheets:ICAN), has agreed to be interviewed today by The Wall Street Reporter. The interview will be conducted this afternoon at 1:30 pm (EST) and will be available to the public online at www.******************.com within five minutes of its completion.
About Wall Street Reporter
The Wall Street Reporter is a premier information source for professional investors seeking successful new investment ideas. Each day we interview CEOs of leading public companies and selected private companies. Our in-depth, unbiased, unscripted interviews deliver a first hand perspective that enables investors to make intelligent and informed investment decisions.
In 1996 our Website became the first Internet site to feature CEO interviews. Since that time we have conducted over 14,500 interviews that have been heard by million of investors worldwide.
Our strategic distribution partnership enables us to reach a broad spectrum of professional investors such as: Analysts, Portfolio Managers, Stockbrokers, Venture capitalists as well as sophisticated investors. Our subscriber list is compiled of the who's who of Wall Street, institutions such as Morgan Stanley, Merrill Lynch, UBS Paine Webber, Smith Barney, Lehman Brothers, Janus Capital Corp, Schroeder Investments Management, Putnam Investment Management, Fidelity Investments amongst many others.
The Wall Street Reporter is published in three formats. Print monthly magazine, (The Wall Street Reporter Magazine), online presence at www.******************.com and our online weekly institutional magazine.
About IBAC Corporation
IBAC Corporation is a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group/National Hospitality Management Service/The Royal Entertainment Group and The Royal Arkansas Hotel & Suites, IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward-Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the hospitality/entertainment industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
quote:Originally posted by stockguy123: All these pump pr's, sounds like this is another GXXL, MLON scam
Just so that you know GXXL paid out its divy yesterday So it would appear that you are right about nothing
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow Posts: 4727 | From: Elk Grove ( Sacramento )CA USA | Registered: Jun 2004
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If we stop responding to Stockguy he will leave. Let's just ignore him. My 2 cents.
Posts: 1295 | From: New Jersey | Registered: Dec 2004
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Just like a said, another p&d pr today. Why do they keep sending out pr's that say the samething over and over again ? That is a sure sign of a possible scam. The SEC will be checking into this 1 soon.
Posts: 149 | From: wilmington,de,usa | Registered: Mar 2004
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5-6 p&d pr's already this week ? This 1 really is starting to stink big time.
Posts: 149 | From: wilmington,de,usa | Registered: Mar 2004
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I'm beginning to enjoy the PR's coming from stockguy123. All HIS ICAN PR's say the same two things. ".0002-.0003 coming this week, sounds like a scam to me."
The constant pessimism is starting to get amusing. I am still waiting on you to give some hotpicks from your portfolio. I would rather here some of those than the non-stop ICAN warnings.
Posts: 61 | From: Baltimore, Maryland | Registered: Feb 2004
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quote:Originally posted by stockguy123: Just like a said, another p&d pr today. Why do they keep sending out pr's that say the samething over and over again ? That is a sure sign of a possible scam. The SEC will be checking into this 1 soon.
Yea, stockguy. If this is a scam Ed must be the stupidest scam artist in the world. He is going to do an interview on a publication that will put ICAN in the lime light and under heavy scrutiny from the investment community. Yea that's the way to do a scam, lol. You've got to be kidding me.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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Pretty much all buys so far. This thing is really heating up. Thanks again stockguy!
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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So it would appear that you are right about nothing 
