posted
Okay, kind of an inside scoop. Someone on at Pal Talk called the Hotel to ask about the auction and they said the new owners are from Arkansas. It sounds like we got it because this purchase is to fall under Gary Becker and the Arkansas Suites and Hotel Group.
check out this link to see what I am talking about.
quote:Originally posted by Doctoall: Good news by the days end, I would say after the maket closes for the day, or at the latest prior to market open tomorrow
yea, I second that. Don't think he will be putting it out here in the next 20 minutes.
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IBAC Corporation is High Bidder for the Memphis Airport Ramada Business Wire - May 25, 2005 18:24
IBAC Corporation (PINK SHEETS:ICAN) today announced that the company was the successful high bidder for the 127 room Ramada Airport Hotel in Memphis, Tennessee (Two Miles From Elvis Presley's Graceland) along with a separate parcel that includes a free standing restaurant (5000 square feet) as one package, the winning bid was $1,725,000 plus auctioneer's fees to be paid in cash, the company will take possession on June 28, 2005.
"We are very excited about the addition of this Memphis property to our portfolio, the location and proximity to the Memphis airport and Graceland is simply wonderful along with being located only two hours from our Pine Bluff location it is a very manageable situation." Said Gary Becker President The Royal Arkansas Hotel & Suites
"I am very happy with the win at this auction as we were able to obtain a property that we coveted substantially below market value, we were determined to bring this prime property into our portfolio and we did, this property will add significant additional revenues and exposure in a major market." Edward W Hayter President IBAC Corporation
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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
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posted
Lets hope we see some good pps off of this.
Realistically I think we see a little movement but not tons. I think we see .0005 fairly easily and maybe some .0006s but not much past that.
The one thing that could blow that theory out of the water is if Ed and/or the investor decides to jump into the fray today (Don't hold you breath though). If that happens, who knows where this could go. It think once we bust through .0006 it will move pretty fast.
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well ladies and gents we now own yet another hotel and restaurant to add to our revenue generating assets.each day i get more and more excited with this company.my main hopes is that we all have the oppurtunity to keep our shares and see how this all works out.im targeting at least a penny a share in the near term future (3-6 months) but that is just a possible target it could go much higher or never hit a penny.i beleive that the real payoff will be with spinoff shares that ed may give to those faithful investors that did not try and daytrade and happen to be holding shares at the right time.im currently happy to say that i am break even @ the current level of.0004. this break even point that i have reached would not have been possible if ed had not given me the extra shares from our latest forward split.so basically to wrap this all up go ed keep up the good work and those of us if we happen to ever get a huge payout lets go check out our restaurants and wine and dine with ed for a night.
-------------------- gotta know when to hold em and when to ..........
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leardron if you speak to ed the next time,can you tell him,what a great job he did .i wonder what do yuo think ,would he turn the restaurant into a steakhouse and become part of te sanibel group?Any thoughts
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quote:Originally posted by Leardron: Lets hope we see some good pps off of this.
Realistically I think we see a little movement but not tons. I think we see .0005 fairly easily and maybe some .0006s but not much past that.
The one thing that could blow that theory out of the water is if Ed and/or the investor decides to jump into the fray today (Don't hold you breath though). If that happens, who knows where this could go. It think once we bust through .0006 it will move pretty fast.
You know, this is all a step in a very positive direction but I stil have this MM question. With almost 600 mil in volume last week and barely any movement, when are the revenues and great news like this actually going to be enough to break these f***ers?
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quote:Originally posted by Leardron: Lets hope we see some good pps off of this.
Realistically I think we see a little movement but not tons. I think we see .0005 fairly easily and maybe some .0006s but not much past that.
The one thing that could blow that theory out of the water is if Ed and/or the investor decides to jump into the fray today (Don't hold you breath though). If that happens, who knows where this could go. It think once we bust through .0006 it will move pretty fast.
You know, this is all a step in a very positive direction but I stil have this MM question. With almost 600 mil in volume last week and barely any movement, when are the revenues and great news like this actually going to be enough to break these f***ers?
When we actually know the OS/AS and financials of the company.
The company is moving in the right direction, but what is the shareholder equity??????
That's pinks for ya.
-------------------- A day without dreams is just a nightmare!
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quote:Originally posted by going for gold: leardron if you speak to ed the next time,can you tell him,what a great job he did .i wonder what do yuo think ,would he turn the restaurant into a steakhouse and become part of te sanibel group?Any thoughts
That's what a bunch of the guys in the know theorise but not sure if that will come true or not. I think he wants to expand the Arkansas Suite and Hotel chain which means he will probably keep the restaurants the same between them. But who knows, that decision probably won't be made for a while. He doesn't even come into possesion of the Hotel till June 28th.
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well i am long and strong still not real pleased with the pps but i still have 110% faith in ed and will continue to add small amounts up to 10 million shares currently @ 4.6 million and holding.
-------------------- gotta know when to hold em and when to ..........
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thanx ric i like that run down of the numbers.i just hope you are right in the estimate of os/as! we shall see soon enough though.do u mind if i ask how large is your position i have continually publicly stated how many i have and i would love know how big you are into this.i respect your opinion greatly on stocks and the research you bring to the table.i think its fair to ask but if i am over stepping my boundaries please feel free to tell me to fu@* off and i will not be affended.
-------------------- gotta know when to hold em and when to ..........
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2979 and 2945 Millbranch Rd Memphis are the parcils that were won at auction and these are the City of Memphis appraisels for these 2 properties. The City apprasels give no value to furnishings and or buisness income value, thats extra!
$ 2,876,100 for the hotel $ 371,400 for the restaurant Total for land and buildings alone $3,247,500
$3,247,500 - $1,725,000 = $1,522,500 in equity now add income for the Hotel and restaurant and the value of the fixture and furnishings
Property Location and Owner Information Parcel ID: 060222 D00055 Property Address: 2945 MILLBRANCH ROAD Municipal Jurisdiction: MEMPHIS Neighborhood Number: 00803A61 Land Square Footage: 43211 Acres: 0.9920 2005 Appraisal and Assessment Information Class: COMMERCIAL Land Appraisal: $ 172,100 Building Appraisal: $ 199,300 Total Appraisal: $ 371,400
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Property Location and Owner Information Parcel ID: 060222 D00054 Property Address: 2979 MILLBRANCH Municipal Jurisdiction: MEMPHIS Neighborhood Number: 00803A61 Land Square Footage: 67430 Acres: 1.5480 2005 Appraisal and Assessment Information Class: COMMERCIAL Land Appraisal: $ 256,900 Building Appraisal: $ 2,619,200 Total Appraisal: $ 2,876,100
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posted
so another day of wait and see,i like to see things moving up,personally i hope that between now and the end of june,ed makes either a spinn of or a buy-out. anyway still have my 16m on my account,mm's if you read this,only for sale at 0.05 a share
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,ed is working on that
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