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Ugly, Ugly, Day. Hope Ed puts out the PR about the acquisitions soon.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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Leardron, up coming prs should be as follows, as per past prs
4-14-05 closing of monarch entertainment group 4-15-05 closing of bonita springs 5-1-05 distrubtion of 15% stock div speical spin off divs by the end of the second quarter become fully reporting
Posts: 629 | From: new england | Registered: Feb 2005
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So ICAN is going to the OTCBB's? I thouhgt just the spinoff dividend was going to be a Bulliten Board. Please help me out guys. I'm confused. Are we still getting a dividend in the form of a fully reporting spinoff? Or did they change their mind and just make the 15% our dividend?
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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I read the PR as a "reward" for those who hold the stock. I think there are two things hapening. One, the 15% distribution and Two, the spin off. However, I would have rather seen ED pull a few shares off the table.
I would think if the stock wasn't to be part of the fully reporting spinoff, this would have happend after the spin.
I'd like to see some dialogue on this too.
-------------------- It's choice - not chance - that determines your destiny. Posts: 350 | From: Portland, Oregon | Registered: Jan 2005
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Dated Jan 4 2005 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. _________________________________________________
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."
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now what I get from these two prs is that ican AND the otcb will be fully reporting. if anyone has any other info on this matter I would love to hear it but for know I am expecting that both symbols will be fully reporting
Posts: 629 | From: new england | Registered: Feb 2005
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Here is the scoop from interviews with Ed and from the PRs. The 15% dividend is just a reward for the share holders of ICAN and has nothing to do with the plans to spinoff ICAN assets to the fully reporting OTCBB stock. Ed is still going to spin off assets to the OTCBB stock which everyone that holds ICAN will get shares of once it is complete. Ed said the pps of the current OTCBB shell, that he is going to spin the assets off to, was trading at $2.00 per share. When he does the spinoff, he wants to try to maintain a good pps for the stock (he said at the lowest .50 per share) so I am assuming you are going to see a big ratio between in the dividend. I would say at least 1 share of the OTCBB stock for 100 shares of ICAN. Could be even more but that is just my opinion.
The assets that are spun off is expected to be the Sanibel Restaurants. That makes the most sense because he has said he wants to expand the Sanibel brand through Joint Venturing and wants to start in the East Coast by opening at least 10 restaurants in this section of the US in major cities and then doing the same in the mid-west and then finally in the West Coast.
Once the spinoff is done, ICAN will still have value because it will still contain the Arkansas Hotel and Convention center as well as the entertainment company he is acquiring. It seem he is going to use ICAN as kind of a staging area for newly acquired assets to maybe spinoff at a later date. ICAN, however, will not be a fully reporting company but all the spinoffs will be. He has said that he wants to have the spinoff completed by the end of the 2nd quarter which is a little over two months away and that is where I feel the big money is.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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leardon thanks for clearing that up that does make alot of sense. that way ican can keep doing business without the expenses of reporting. i still say that i would love to see icans balance sheet, with that insight i beleive that i would be doubling my posistion in ican before the price jumps. well thanks again and good luck to us all
Posts: 629 | From: new england | Registered: Feb 2005
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quote:Originally posted by tyedye: I have read this entire post, and DD'd this stock practically to death and... this company looks great!
Anyone think that this is still worth getting in @0.0003? or 0.0004?
I would definitley get in at these prices. Great deal at this point. I think the MMs are playing big time with this one. It seems weird that this one dropped to this level almost within days of the dividend being reported and it was at the .0006 level for weeks. Personally I think the MMs are trying to cover their shorts before the dividend.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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The only other thing I can figure is that people are misunderstanding the 15% dividend thinking that he has abandoned the spinoff which isn't correct. This is in addition to the spinoff.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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I was a firm believer before, but nhow it is time to jump ship. This one is tanking fast!
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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Think about it guys. Why buy now at .0003 if you can wait for it to hit .0001 which looks to be soon. I've lost alot on this POS now. Have to take my losses and move on. Alot of empty promises from ED. Think something fishy is going on.
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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News will come today, so I am hanging in there with my free shares Actually have a buy order in for more at these prices. I have faith in ED and there is no doubt this will turn around.
-------------------- 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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quote:Originally posted by Jonathanlb8: Think about it guys. Why buy now at .0003 if you can wait for it to hit .0001 which looks to be soon. I've lost alot on this POS now. Have to take my losses and move on. Alot of empty promises from ED. Think something fishy is going on.
I would like to know what promises he has made that he hasn't come through on? I love when people aren't made millionaires overnight that they say the CEO hasn't come through on his promises. I haven't seen one promise he has made yet that hasn't come through. The problem is that people aren't patient enough to wait for the dates that he has already layed out.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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News might come, but look what recent news has done. Nothing. Heck even went down on good news one day. Not worth all the frustration. Further and further away from that .01 everyone was talking about.
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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i agree with doc,some mm playing,question for jonathan,empty promises from ed,what are you reffering to,i think he has been verry honest,so i would say,if you can't the heat,go away anyway still my 14m on my account Posts: 207 | Registered: Jan 2005
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quote:Originally posted by Jonathanlb8: News might come, but look what recent news has done. Nothing. Heck even went down on good news one day. Not worth all the frustration. Further and further away from that .01 everyone was talking about.
That's fine if you want to get out because don't want to wait anymore and can't stand see the pps drop (I can't either) but don't make statements about the CEO that aren't true just because you are mad at the current pps.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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posted
14 mil? Sorry to hear that. It'll take you awhile to sell all of that off when it tanks more.
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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quote:Originally posted by Jonathanlb8: 14 mil? Sorry to hear that. It'll take you awhile to sell all of that off when it tanks more.
I hear your mommy calling you. Now go play like a good boy and leave the grown up stuff to the rest of us.
Posts: 120 | Registered: Aug 2004
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Grown ups? I'm 29 and have been trading for the last 10 years. Now how about you guys stop dreaming and get back into reality. I'm not trying to bash, but just open up your eyes. Heck I have over 7 mil shares still in this. I already made alot when I bought at .0002 and sold at .0008 a while back. These are pretty much free shares I'm dealing with now.
Think about it this way. When it was at .0008 you could have sold and bought back in at current .0003. Now it's at .0003. Why not sell and buy back in at .0001. .0001 to .001 is 1000%. .0003 to .001 is only 333%. Do the math. I have no doubt this will pass .001 again, but it most likely won't be for awhile.
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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quote:Originally posted by Jonathanlb8: Grown ups? I'm 29 and have been trading for the last 10 years. Now how about you guys stop dreaming and get back into reality. I'm not trying to bash, but just open up your eyes. Heck I have over 7 mil shares still in this. I already made alot when I bought at .0002 and sold at .0008 a while back. These are pretty much free shares I'm dealing with now.
Think about it this way. When it was at .0008 you could have sold and bought back in at current .0003. Now it's at .0003. Why not sell and buy back in at .0001. .0001 to .001 is 1000%. .0003 to .001 is only 333%. Do the math. I have no doubt this will pass .001 again, but it most likely won't be for awhile.
I am not sure this is going to go down to .0001. Not saying it definitley won't but I don't think since Ed took over that this stock was ever at .0001 so why would it go there now. I, like you, got in at .0003 and sold at .0007 and am working with mostly free shares now but I, also like you, got in when it was at it's lowest point. It was at like .0002 ask and a .0004 bid. That was the lowest I ever saw it. I think if you can get in now at .0003 you will be in great shape.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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Bid hit .0001 once back at the end of '04. The ask never fell below .0002. We won't see levels below .0002 again IMO. If you don't have the stomach for this stock then bye bye, but we are not dreaming. We are just sitting tight waiting for reality to kick in.
Posts: 1295 | From: New Jersey | Registered: Dec 2004
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I don't think faith should have anything to do with stocktrading. Decision making should be based on fact - hard numbers and information. IMO the pps is down because:
1) this dividend amounts to no more than dilution {a big no-no in the penny game}. 2) ICAN is not fully reporting as yet 3) Ed's almost identical announcement to QBID's that there is a group of investor's interested in buying up to .01 4) Ed never mentioned a potential dividend situation in any previous discussions. (Why?) 5) Ed never disclosed that ICAN would be buying Monarch Entertainment who, and I'm guesing, possibly has previous contract to provide same services - otherwise why buy?
Investors don't like suprises. They like fully reporting whether it's financials or pr's.
-------------------- Just the facts, ma'am. Posts: 1083 | From: New Jersey | Registered: Mar 2005
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well as far as Ed goes he has come through on everything that he said he would do.he cant stop the mm from doing what they are and we all now that.when i put my cash into a stock i dont jump with every wiggle in the market.I buy and hold two years ago i bought into a company omog at rock bottom price i am now about to close that posistion with a very tidy profit i plan on doing the same with this one.so many are concerned with the recent price drop that they are ready to jump ship.all i can say is go ahead and jump that should help push the price down further i am personaly almost praying for .0001 i will be tripling my posistion as soon as it does. dont get me wrong im saying that i would buy at this price im hoping that it goes down more. might sound crazy but when you know that you have a winner buy all you can. i dont might mind waiting for a several thousand percent gain ive said it before this one would make warren buffet very proud
buy large and hold lets shut out the daytraders
Posts: 629 | From: new england | Registered: Feb 2005
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quote:Originally posted by 4Tune4Me: I don't think faith should have anything to do with stocktrading. Decision making should be based on fact - hard numbers and information. IMO the pps is down because:
1) this dividend amounts to no more than dilution {a big no-no in the penny game}. 2) ICAN is not fully reporting as yet 3) Ed's almost identical announcement to QBID's that there is a group of investor's interested in buying up to .01 4) Ed never mentioned a potential dividend situation in any previous discussions. (Why?) 5) Ed never disclosed that ICAN would be buying Monarch Entertainment who, and I'm guesing, possibly has previous contract to provide same services - otherwise why buy?
Investors don't like suprises. They like fully reporting whether it's financials or pr's.
1- I agree with that piece as far a dilution. 2- Ed never said the ICAN was going become fully reporting in any of his interviews. He has always said he is going to roll assets over. Also, he said he would like it done by the end of the 2nd QTR so there is no surprise there that it has't happend yet. 3- I agree on this one. Not sure what Ed was thinking there and I think Ed realized his mistake. 4-Why would he have to mention a dividend situation. That's the whole point of the PR. 5- Ed did mention over a month ago in his interviews that they were in talks to acquire an entertainment company to help bring in shows to the convention center and the possibility of other centers he might acquire. So there is no surprise here if you kept informed.
So all in all the only one out of the list that was totally stupid and that was number 3 and I think Ed learned his lesson. Number 1 will be a dilution but it is only 15%. That isn't that big in the grand scheme of things.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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Hi Lestat, I did not say that Ed said ICAN would be fully reporting. I said ICAN is not fully reporting. Why acquire an entertainment group when you have already created the Royal Entertainment group? I'm trying to understand why pps has dropped significantly.
-------------------- Just the facts, ma'am. Posts: 1083 | From: New Jersey | Registered: Mar 2005
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i am with you leardron this ceo has so far done everything he said he would. the things he did without saying anything were positive things we are onle a short time away from seeing these things pan out. if the plan goes as it has been spelled out to us it will make us money. i only wish that i would have done dd a lot earlier. as far as ed plan goes you can only judge the future by a persons past record. personally i am getting more at these prices
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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quote:Originally posted by 4Tune4Me: Hi Lestat, I did not say that Ed said ICAN would be fully reporting. I said ICAN is not fully reporting. Why acquire an entertainment group when you have already created the Royal Entertainment group? I'm trying to understand why pps has dropped significantly.
Well, I think you hit the nail on the head with number 1. Look at what has happend. the pps was hanging at .0005 and .0006 for a couple of weeks before he announced the dividend. Within 1 week of that announcement the pps has dropped. I think two things are happening. One is, like you pointed out, investors are seeing it as a dilution. The second one is that I think alot of investors are confused with the fact that this dividend is not the dividend that everyone has been talking about and waiting for and are bailing because they think this is the dividend that everyone has been talking about and that Ed is not going to do the rollover. That is why he ended up putting out the second PR explaining that this dividend has nothing to do with the plans of doing the rollover that the rollover is still happening.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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To answer you question on why buy and entertainment company when he already has a division created is because he said in an interview that he was in talks with a production company to add to the entertainment division that was already formed. Monarch must have been that production company that he was talking about. The current entertaiment division that Ed formed was purely for going out and booking shows for the convention center complex. Why he bought Monarch is because Monarch produces and creates their own shows. That is what Ed wanted to do was buy a company that produces and puts on their own shows for the convention center and any other future ventures he might get into.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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as far as im concerned with respect to the purhase of monarch is this is one of the best moves that Ed could have made. now we have a much better chance of keeping the convention center busy. it would also do alot to keep the hotel full, both generate good cash flow for ICAN.the bonus here is that monarch brings in good connections within the entertainment feild. Monarch has good relations with many top proforming artist. this is not only good for pinebluff it is good because of the revs created by monarch anywhere that they set up shows.IMHO this is getting the biggest bang for the ICAN dollar. I say great move ED keep up the good work
Posts: 629 | From: new england | Registered: Feb 2005
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Actually have a buy order in for more at these prices. I have faith in ED and there is no doubt this will turn around.
