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I see you where there too ARI. I thought the $50,000 profit was the Hotel? Either way it is still good. What do you think overall? GREAT NEWS in my opinion.
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Agreed leardon This could not have gone better in my opinon.....Ed was very professional. If Ed going on paltalk was to strengthen investor confidence I think it worked, at least for me. I have nothing but confidence in this one now.....
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Well one thing I know is hotels. Being a GM for 6 years of 2 different hotels. I did a search of the hotel. Its a 5 story 200 room hotel with rates at 69 to 89 dollars and rated by Expedia and Travelocity at only 2 stars. From this information and the pictures its only a 5 million dollar hotel at best. So if he states it at that much of a premium, what else is he overstating? Just a thought. Also if there is 6.3 restricted then there can not be 1.3 in float. It doesn't add up. Besides if float was that low with the volume we had today then this would have skyrocketed.
Ric
-------------------- Invest with your brain not with your heart.
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I agree with you totally. Ed was very professional and sounded very experienced. He gave out alot of great news that makes this company very solid and almost seems unreasonable that it is on the pinks because it doesn't belong there. I feel very confident too. Hopefully it will be reflected in the pps tomorrow
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Funny ric. I work in A hotel, I'm a Doorman. Correct me if I'm wrong but can't A smaller Hotel @ 2 stars can be just as profitable as a property that is 5 star and larger, if not more, it all depends on management. I think.....I am not a GM but I do understand how Hotels make $$$$ Am I wrong Ric?
quote:Originally posted by Ric: Well one thing I know is hotels. Being a GM for 6 years of 2 different hotels. I did a search of the hotel. Its a 5 story 200 room hotel with rates at 69 to 89 dollars and rated by Expedia and Travelocity at only 2 stars. From this information and the pictures its only a 5 million dollar hotel at best. So if he states it at that much of a premium, what else is he overstating? Just a thought. Also if there is 6.3 restricted then there can not be 1.3 in float. It doesn't add up. Besides if float was that low with the volume we had today then this would have skyrocketed.
Ric
Well you either believe him or you don't. Hearing him, I believe him. He said actually the value of the Hotel was accually accessed at $20 Million but they have it insured for $19 Million. I am not casting aspersions on you RIC but you haven't been there and are only going by pictures. These are the facts he gave. Also on the pps, you now have to figure that this stock is being shorted. I guess we will see. Aside from the Hotel, the Sanibel restaurants are also very profitable so all in all I would say it looks very good.
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You can buy if you want to, Just given you facts. Take the way you want. Help with the owner with planning a brand new hotel before retiring over the summer. Do you know what the morgage payments are on that large of a loan. I do. Beside search it yourself and see the hotel. It wasn't special. I aso included the convention part in that price of 5 million. Pictures of that on site orbitz to. It may have been 19 million when new but it isn't now. Rates also tell alot about how well you are doing and at those rate its not doing the business of a 5 star hotel. Besides hotel business is real bad right now across the board. Industry has been hurting bad over the last few years. Just was giving fact of my dd. Buy if you like. It's your money.
-------------------- Invest with your brain not with your heart.
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Ric. Did a quick search on the Hotel and found this. This is from Lodging.com about the Hotel. This might change your opinion
Pine bluff s only full service hotel. the former Ramada and pine bluff convention center hotel is Being lovingly restored by its new owners to a 4 Star hotel. the royal arkansas hotel suites Features a beautiful 5 story atrium lobby 200 Over-sized guest rooms that feature king or twin- Queen beds plus suites with microwaves Mini-refridgerators hair dryers irons ironing Boards and coffeemakers. the hotel features all Day dining in its lobby restaurant and also Opening soon an italian restaurant steakhouse Plus a lounge open nightly *except sundays* and An indoor pool.
Looks Like Ed is going to make it a 4 star!
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Leardron, Even though I disagree on the hotel and being in the business would never invest in one right now in this market, the restaurant business is doing great right now. I still get my Hotel/Restaurant magazines here. The restaurants has been doing very well lately. Not sure what kind of restuarant they own but that looks better then hotel business IMO. Give good with bad. Don't want you to think I am bashing here. Just there was no way the hotel numbers add up.
Ric
-------------------- Invest with your brain not with your heart.
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Unfortunately I was GM of one of those remodeling Ramada's. We don't want to go there. And write ups are done by hotel, you should have read mine. You thought you were getting a 5 star. But still, I seen the room pictures. It didn't look like a dump, I wasn't saying that. It just wasn't a 19 million hotel even if being renovated.
Ric
-------------------- Invest with your brain not with your heart.
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quote:Originally posted by Ric: Leardron, Even though I disagree on the hotel and being in the business would never invest in one right now in this market, the restaurant business is doing great right now. I still get my Hotel/Restaurant magazines here. The restaurants has been doing very well lately. Not sure what kind of restuarant they own but that looks better then hotel business IMO. Give good with bad. Don't want you to think I am bashing here. Just there was no way the hotel numbers add up.
Ric
I don't think you are bashing at all. You made a fair assessment given what info you had. I just wanted to make sure everyone has that information. I don't see how you can still make the same assessment of the value of the property if they are restoring the Hotel to a 4 star status.
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quote:Originally posted by Ric: Unfortunately I was GM of one of those remodeling Ramada's. We don't want to go there. And write ups are done by hotel, you should have read mine. You thought you were getting a 5 star. But still, I seen the room pictures. It didn't look like a dump, I wasn't saying that. It just wasn't a 19 million hotel even if being renovated.
Ric
I agree that 19 Million is probaby over the value just like homes are always assessed at higher than they would get on the market but I can't believe that it is only worth a quarter of the assessment. But in any event, I agree that the Sanibel Restaurants are the more lucrative assets by far.
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Sorry I haven't gotten in here! Been real busy with other boards and PRs and PalTalks and IMs and E-Mails LOL! Great interview tonight for Ed Hayter and ICAN. Its a winner in my book!
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I'm still a little confused, I'm hearing that ICAN will not be going to OTCBB, but rather the spin off will be free shares of a OTC stock... but in the interview Ed mentioned multiple times, they are aiming to become a fully reporting company... wouldn't that put them on OTC??
overall I think the interview was a success, lets see what happens today
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I too thought they were going to the OTCBB, but now I am hearing the same as unreal33? Can somebody please clarify this a for me, being a newbie to pennystock. (ICAN is my first pennystock)
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quote:Originally posted by homer_0: I too thought they were going to the OTCBB, but now I am hearing the same as unreal33? Can somebody please clarify this a for me, being a newbie to pennystock. (ICAN is my first pennystock)
Basically here is the deal. Ed said last night there are two ways to move to the OTCBB. One is to go through the lengthy process of having everything audited and go through the process with the SEC to move your security to the OTCBB. The other way is to spinoff your assests to a shell that is already on the OTCBB and give your shareholders shares of the OTCBB stock. Now he also said he is not sure if he is going to spin all the assets off. He doesn't want ICAN to just become a shell so he sounds like he is leaning toward splitting them up. Also it sounds like any new acquired assests will go under ICAN.
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Actually its just about identical to PRRM and playing the GXXL spinoff game. Neither ICAN or PRRM has ever filed a financial report with the SEC so revenues are unknown
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quote:Originally posted by stockguy123: Actually its just about identical to PRRM and playing the GXXL spinoff game. Neither ICAN or PRRM has ever filed a financial report with the SEC so revenues are unknown
So are you holding any ICAN shares?
-------------------- Be Careful Of The Toes We Step On Today, They Could Be Attached To The Butt We Have To Kiss Tomorrow
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ICAN releases pr's that are truthful. They have followed through on every promise to their shareholders. They also state that they are in the process of aligning the company with a fully reporting company to add shareholder value. Also, they received an unsolicited offer on existing properties (assets).
I have every reason to believe the current management and their goal to add to shareholder value.
Yes, this will be day-traded and find new highs and lows, but this will continue to go up in value.
JMHO
-------------------- A day without dreams is just a nightmare!
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I see you where there too ARI. I thought the $50,000 profit was the Hotel? Either way it is still good. What do you think overall? GREAT NEWS in my opinion.
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