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leardron no need to make exuses your right. ed will report earnings today there is to much to lose by not doing so i am not worried one bit as a matter of fact this may be the last time at thease prices. good luck to all of us.
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NEW YORK, Apr 04, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:ICAN) today reported gross revenues of its subsidiaries as better than expected. The March 2005 revenues are $550,023.25 combined for The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites/National Hospitality Group, This will give the company a first quarter revenue of $1,211,867.75 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 subsidiaries and attribute the growth in revenues to the management capabilities of Mr. Karl Wenzel and Mr. Gary Becker respectfully. The significant growth in revenues 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 has also entered into a verbal agreement to purchase a west coast company that specializes in event management and production for stock and cash the contract is expected to be completed within two to three weeks; the management feels that this acquisition will enhance revenues.
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.
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posted
that's pretty impressive revenue for March. It was almost half of all the revenue for the quarter. Once the other two Sanibel's come under IBAC's roof we could maybe start approaching 750K to 1 million in revenue per month.
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posted
January and Febuary are always the worst months for these types of business. March usually is a lot better month and with early spring break for a lot of schools travel was probably up. Would have been nice to have net income, expenses are high in this business. Gross income doesn't say much but number doesn't look bad. But it does look good for summer revenues when the best numbers come in for June-August.
-------------------- Invest with your brain not with your heart.
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my maths tell me that whit this revenue alone 5m(1.2m x 4) : 11.3 billion shares,we should be around around 0.0047 pps,can someone confirm that
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No because its gross revenue not net. And this is normally the worst quarter for this market.
quote:Originally posted by going for gold: my maths tell me that whit this revenue alone 5m(1.2m x 4) : 11.3 billion shares,we should be around around 0.0047 pps,can someone confirm that
-------------------- Invest with your brain not with your heart.
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.0005 is not what i thought i guess sometimes you need some time for things to sink in. days not over i think we are going to close ok
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quote:Originally posted by bond006: .0005 is not what i thought i guess sometimes you need some time for things to sink in. days not over i think we are going to close ok
I was expecting this. Thought it might hit .0008 but it did hit .0007 as I thought it would. Like I said, the only thing that is going to move this above .001 is the dividend announcement and/or the annoucement to lift the gag order off the TA. I see a couple other items coming down the road very soon that will boost it back up to the .0008 and .0009 range and that is the annoucement of the completion of Ed's buy back, the completion of the share retirement, and closing on the Bonita Spings acquisition which is to come by April 15th. I still believe in this stock but I am also realistic on what it is going to take to make it really take off.
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IBAC Corporation Subsidiary the Royal Arkansas Hotel & Suites Selected as Host Hotel for Tournament
By BusinessWire Last Update: 4/5/2005 9:07:05 AM Data provided by
PINE BLUFF, Ark., Apr 05, 2005 (BUSINESS WIRE) -- IBAC Corporation (PINK SHEETS: ICAN) subsidiary The Royal Arkansas Hotel & Suites today announced that it has been selected and contracted as the host hotel for the American Legion Baseball Mid South Regional Tournament August 10 - 17, 2005. This is the last major baseball tournament for youth's up to the age of 19 prior to a possible pro career. The winner of this tournament proceeds to the Legion World Championship tournament, with thousands of participants, major league scouts and spectators expected for this event. The hotel and its restaurants & lounge expect significant revenues from this event.
"We are very pleased with the selection of our hotel to host this very popular tournament and look forward to the large influx of participants and spectators to the hotel for that week, as this is a very popular tournament that will showcase some of the top talent in the region," said Gary Becker President.
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.
posted
Man!!! We get news, and we still go down a tick. Ed, we need something big. If you wait to long to release the Div news, we'll be at .0001 and the dividend will only get us back to .0006. Come on. Do something for us.
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it will come bonita springs lots of good news on the way it will just take time as it falls into place. i understand there is nothing like the thrill of a good pps to help your head
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Great time to add to your position! This is a growing company with great news over the past several months; Retiring stock, acquisitions, and best of all big players investing in them. I'd say mid summer we should see this thing taking off.
-------------------- It's choice - not chance - that determines your destiny.
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Got out , too many PRs and not enough movement for my tastes . Won't say it won't do something eventually , but couldn't wait around .
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IBAC Corporation Board Approves a Special Dividend Wednesday April 6, 2:47 pm ET
NEW YORK--(BUSINESS WIRE)--April 6, 2005--IBAC Corporation (PINK SHEETS:ICAN - News), announced today that its board has approved a dividend in the form of forward split of 15% for all common shares issued and outstanding as of May 1, 2005 (the record date). As of the record date, each Holder of 100 shares of common stock shall be issued an additional fifteen (15) shares of common stock. Odd lots shall be rounded up. The mail date for the additional shares is May 15, 2005. "I requested this special dividend to reward shareholders for their loyalty," said Edward W Hayter President.
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.
posted
Nice PR but I don't think this is what the investors are looking for. Don't think it will have my effect on the pps in my honest opinion.
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if he follows this up in the coming week or so with the PR about the dividend in the fully reporting stock which would take place after this dividend, that would be very nice
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thru laerdron,we were looking for a dividend aslike shares of a otcc-company,but maybe that will come in the future,mabe ed just want to rewarder the long holders
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I feel the same about that too Leardron. Won't take the pps up like I wanted it to. Not trying to bash, so please dont take it that way, just my feeling about it. Still holding here!
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for the moment ,don't like it,want to se this around 0.001 ![[Wink]](wink.gif)
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