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Ridgeland, MS, MAY 16, 2005 (EventX/Knobias.com via COMTEX) -- IBAC Corporation (ICAN) announced that its Board of Directors has approved the go ahead to negotiate an increase to its credit facilities for up to $20 million from a group of private investor/lender's and Banks.
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Ibac Corp. Ceo Edward Hayter, has been given a raw deal by the posters to the net over the past few weeks. I believe that its because of the PPS and the number of day traders and manipulator, who own shares or have a naked short. I have spoken with Ed many times over the past several months and on more than one occasion he has expressed his dismay with shareholders who invest and expect a profit in hour or days. "Do these people think a company with a $100 annual revenue is built over night?" It seems to me that Ed is working very hard to grow ICAN, and that he should be given the time to do so. Presently he is working on many acquisitions and any one of them could increase the PPS. As stated in press releases here's a list: Two currently operating Sanibel Steak Houses in Fl, and a $13.5 million dollar restaurant chain in Arkansas, Two Hotels, one in Memphis and, one in Detroit, and another restaurant in Fl, with a stated income of $4. million dollars annually. Also at this time there is a $1 Million dollar renovation being done to The Royal Arkansas Hotel subsidiary while it generated $113k in April 05. The Fort Myers, Sanibel Steak House subsidiary also generated a healthy $175k in April 05! The National Hospitality subsidiary's income will the stated at the end of the quarter and the Monarch Entertainment will start to generate income in May 05. It seems to me that there are many income generating assets being perused and that ICAN's PPS will follow!
-------------------- Nothing moves a sub like news!!!
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Pictures and Hotel info added to micropennys Just click the hotel pictures for further details on the hotel about to be bid on at auction by IBAC Corp on 5/25/05
-------------------- Nothing moves a sub like news!!!
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"We are very excited about this proposed increase to our credit facility as this will allow us to accelerate certain proposed deals we have been looking at and to seek additional acquisitions for the company," said IBAC's Chairman Edward W. Hayter. "We feel that with our solid performance, strong outlook and cash flow that now is a good time to complete other certain deals that we have been looking at and that are on the table now, to grow the company."
-------------------- Nothing moves a sub like news!!!
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"We are very excited about this proposed increase to our credit facility as this will allow us to accelerate certain proposed deals we have been looking at and to seek additional acquisitions for the company," said IBAC's Chairman Edward W. Hayter. "We feel that with our solid performance, strong outlook and cash flow that now is a good time to complete other certain deals that we have been looking at and that are on the table now, to grow the company."
I really hope they get that restaurant down in Florida. From what the guys are saying over on Pal Talk (some of them have been there), that would be an incredible addition to IBAC. I don't know what the name is but from what they are saying on Pal Talk, it is a nationally know restaurant.
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"We are very excited about this proposed increase to our credit facility as this will allow us to accelerate certain proposed deals we have been looking at and to seek additional acquisitions for the company," said IBAC's Chairman Edward W. Hayter. "We feel that with our solid performance, strong outlook and cash flow that now is a good time to complete other certain deals that we have been looking at and that are on the table now, to grow the company."
I really hope they get that restaurant down in Florida. From what the guys are saying over on Pal Talk (some of them have been there), that would be an incredible addition to IBAC. I don't know what the name is but from what they are saying on Pal Talk, it is a nationally know restaurant.
No one in Pal Talk knows the name either?
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"We are very excited about this proposed increase to our credit facility as this will allow us to accelerate certain proposed deals we have been looking at and to seek additional acquisitions for the company," said IBAC's Chairman Edward W. Hayter. "We feel that with our solid performance, strong outlook and cash flow that now is a good time to complete other certain deals that we have been looking at and that are on the table now, to grow the company."
I really hope they get that restaurant down in Florida. From what the guys are saying over on Pal Talk (some of them have been there), that would be an incredible addition to IBAC. I don't know what the name is but from what they are saying on Pal Talk, it is a nationally know restaurant.
No one in Pal Talk knows the name either?
Well, It's not that fact that they don't know the name but they don't want to start any false rumors. Ed has not said which restaurant it is that he is looking to acquire but there is someone on Pal Talk that has it on good authority which one it is but this person doesn't want to say what it is. All I know is that it is a Greek Restaurant.
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The company is currently negotiating another property/restaurant in Florida with revenues of $4,000,000 per year and expects contracts in the near future.
-------------------- Nothing moves a sub like news!!!
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quote:Originally posted by rickpic: Is this what you are discusing?
The company is currently negotiating another property/restaurant in Florida with revenues of $4,000,000 per year and expects contracts in the near future.
yes. From the discussion that the Pal Talk guys had with Ed last week he said this is about 85% done.
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i wish that they would buy a restaurant up hear in the great northeast hate the thought that i will have to travel to florida to eat in my new restaurant LOL
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this all sounds good to me i know ican i know ican.still holding 4 million long and strong thanx for the great posts and all the dd guys.i appreciate your hard work.may this investment pay off great for all of us.lets plan and meet eachother at the hotel or restaurant when this stock hits the penny levels? sound good ?ican wait as long as it takes hehehe.
-------------------- gotta know when to hold em and when to ..........
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Farmgirl: I do not have mine either from Scottrade, they have been "johnnie on the spot with the other splits I've had so it must be Ibac not delivering (?) What did Scottrade tell you when you asked?.... Just curious......
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i have not got e trades i called and they said when ever they get them they will be in my account. they also said with penny stocks who knows
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quote:Originally posted by farmgirl: The day is over and I still do not have my shares. I will call again in the morning and see what Scottstrade says this time.
What was the issue date ?? I have ST and do not have anything.
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TA said all shares were delivered today and everyone but Scott Trade and E-Trade traders seem to have gotten there shares! I got mine before noon today with Ameritrade!
-------------------- Nothing moves a sub like news!!!
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quote:Originally posted by farmgirl: The day is over and I still do not have my shares. I will call again in the morning and see what Scottstrade says this time.
What was the issue date ?? I have ST and do not have anything.
quote:Originally posted by farmgirl: The day is over and I still do not have my shares. I will call again in the morning and see what Scottstrade says this time.
What was the issue date ?? I have ST and do not have anything.