posted
I also don't want a R/S while we're on the pinkies. Perhaps the ideal path for ICAN would be like this:
1 - buy back enough shares at 0.0001 or 0.0002 to reduce the float dramatically. Then announce the float. The PPS should shoot up.
2 - next, do a reverse merger with a clean shell company to get on a different exchange. The reverse merger may be easier and quicker than having to do years and years worth of back-auditing of the existing ICAN. The PPS should shoot up more, since we're moving off the pink sheets.
Posts: 323 | From: Honolulu | Registered: Sep 2003
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quote:Originally posted by TraderTom: I also don't want a R/S while we're on the pinkies. Perhaps the ideal path for ICAN would be like this:
1 - buy back enough shares at 0.0001 or 0.0002 to reduce the float dramatically. Then announce the float. The PPS should shoot up.
2 - next, do a reverse merger with a clean shell company to get on a different exchange. The reverse merger may be easier and quicker than having to do years and years worth of back-auditing of the existing ICAN. The PPS should shoot up more, since we're moving off the pink sheets.
I rarely post, but isn't a reverse merger when a private company is consumed by a public company and the public company retains it's name, so if ICAN were to "reverse merge" which i dont even think is the right term, i just think MERG with another company and ICAN's name is lost and consumed by the bigger publicly held company then our shares will be changed into the new company...which is the same as a buyout or another company buying ican, we loose the company and get a new one...am i wrong i think im right. Either way, i just want to make 6 figures off this so im in till i loose my money ahah or gain a crap load, GO ICAN< and pray for UNITED FOR ME ahaha im banking on united getting outta bankruptcy ahah...WOOHOO..
-------------------- Sean
M.M.M.! Posts: 8 | From: California | Registered: Mar 2005
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posted
shgray, I beleive that you are right on the fact that a reverse merger would mean that we would have to be "consumed"by a larger company.At least in my understanding of how a reverse merger would work. but a take over from another company "could" happen, after all at the current pps the entire float assuming it is 6 billion is only worth 600,000$-1.2 million @.0001-.0002 ican is holding 4-5 million in assets.sounds like a money maker to me.
bmax,
Posts: 629 | From: new england | Registered: Feb 2005
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quote:Originally posted by TraderTom: I also don't want a R/S while we're on the pinkies. Perhaps the ideal path for ICAN would be like this:
1 - buy back enough shares at 0.0001 or 0.0002 to reduce the float dramatically. Then announce the float. The PPS should shoot up.
2 - next, do a reverse merger with a clean shell company to get on a different exchange. The reverse merger may be easier and quicker than having to do years and years worth of back-auditing of the existing ICAN. The PPS should shoot up more, since we're moving off the pink sheets.
tradertom, i agree with you 100% on on point #1 but on point #2 ican has been in buisness for less then 9 months a good accountant could have the books clean and ready for report in less then a week. This is the reason that upsets me with ed.The process for being fully reporting does not take that long. So I for one, cant understand what the hold up is.
bmax,
Posts: 629 | From: new england | Registered: Feb 2005
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quote:Originally posted by bmaxingout: ...it is OUR money that has paid for these assets.Its not Eds money its not icans money its is our hard earned cash that pays ed salery...
I'm going to have to disagree with this. Purchasing stock doesn't provide enough for the company to buy all the assets and the company only receives money from stock when it sells it to the market. Thereafter the sales dont accrue to the company. There is no recurring source of income for Ed's salary. He has to derive his income from within the company. Shareholders don't provide any ongoing financial support to a company. If anything, shareholders become a drain on a company.
As for auditing, a full audit can easily take more than a week. There is more than just adding up some numbers and having someone say they are correct. The last 2 companies I worked with took the better part of 6 months to clear up a years worth of financials to comply with reporting. It's much more quick after the first time.
Posts: 97 | Registered: May 2005
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posted
ny i agree but without the shareholders that invested their money into the company there would be no ican. now the company has only been doing business for nine months.Ed is a smart guy and i think that he has more then likely kept things up to date. So all im saying is that it should not take all that much to become fully reporting. what upsets me is when our ceo doesnt do what he says he would do.
Posts: 629 | From: new england | Registered: Feb 2005
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posted
hallo everybody,so not that much volume so far Hope that ed will make a statement on the gag this week
Posts: 207 | Registered: Jan 2005
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posted
im also still holding at least till the end of the month when ed ungags the ta and we all become rich
Posts: 629 | From: new england | Registered: Feb 2005
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posted
A reverse merger is a simplified, fast-track method by which a private company can become a public company. A reverse merger occurs when a public company that has no business and usually limited assets acquires a private company with a viable business. The private company "reverse merges" into the already public company, which now becomes an entirely new operating entity and generally changes name to reflect the newly merged company's business. Reverse mergers are also commonly referred to as reverse takeovers, or RTO's.
Going public (in any way) is attractive to companies because after going public, the company can use its stock as currency to finance acquisitions and attract quality management; capital is easier to raise as investors now have a clearly defined exit strategy; and insiders can create significant wealth if they perform.
The reverse merger is an alternative to the traditional IPO (initial public offering) as a method for going public. Many people don't Advertisement
realize there are numerous other ways for private company to become publicly traded outside of the IPO. One widely used method is the "Reverse Merger".
The reverse-merger method for going public is more prevalent than many investors realize. One study estimates that 53% of all companies obtaining public listings in 1996 did so through the "Reverse Merger". The same study concluded about 30% of newly publicly listed companies got there through Reverse Mergers in 1999. Percentages have recently dropped because Wall Street Investment Banking firms have had a huge appetite for IPOs in the late 90s. This led to many marginal companies receiving enormous financial windfalls.
In a reverse merger, the original public company, commonly known as a "shell company," has value because of its publicly traded status. The shell company is generally recapitalized and issues shares to acquire the private company, giving shareholders and management of the private company majority control of the newly formed public company.
The RTO (reverse take over) method for going public has numerous benefits for the private company when compared to the traditional IPO:
Initial costs are much lower and excessive investment banking fees are avoided. The time frame for becoming public is considerably shorter. There are also several disadvantages of going public through the RTO as compared to an IPO:
There is no capital raised in conjunction with going public. There is limited sponsorship for the stock. There is no high powered Wall Street Investment Banking relationship. The stock generally trades on a low exposure exchange. Many highly successful companies have become public through the RTO process. However, there some important negatives investors should be aware of.
There is a much higher failure rate amongst RTO companies versus the traditional IPO. Much smaller and less successful companies are able to become public through the RTO, and many are badly undercapitalized. Often these stocks trade very inefficiently in the absence of any sponsorship or following.
There is a cottage industry of merchant bankers and entrepreneurs who specialize in orchestrating reverse mergers. Unfortunately, there are no barriers to entry in this field. Therefore, scams are common place.
Through various methods, scam artists manage to accumulate large positions in the free trading shares of the shell company. An RTO is consummated with a marginal private company, and the scam artists put together a massive publicity campaign designed to create activity in the stock. Unrealistic promises and absurd claims of corporate performance find their way to the public. The enhanced trading volume allows the scam artist to dump his shares on the unsuspecting public, most of whom eventually lose their money once the newly formed public company fails. This scam is commonly known as a "Pump and Dump".
Alternatively there a hundreds of examples of highly successful companies which have yielded millions in profits for investors that have gone public through the RTO. Many of these companies deserve exposure to investors. Initial valuations can be reasonable, providing excellent opportunities for individual investors to accumulate positions ahead of Wall Street institutional money.
Here are some high-profile and successful RTOs:
Armand Hammer, world renowned oil magnate and industrialist, is generally credited with having invented the "Reverse Merger". In the 1950s, Hammer invested in a shell company into which he merged multi decade winner Occidental Petroleum. In 1970 Ted Turner completed a reverse merger with Rice Broadcasting, which went on to become Turner Broadcasting. In 1996, Muriel Siebert, renown as the first woman member of the New York Stock Exchange, took her brokerage firm public by reverse merging with J. Michaels, a defunct Brooklyn Furniture company. One of the Dot Com fallen Angels, Rare Medium (RRRR), merged with a lackluster refrigeration company and changed the entire business. This was a $2 stock in 1998 which found its way over $90 in 2000. Acclaim Entertainment (AKLM) merged into non operating Tele-Communications Inc in 1994.
-------------------- Remeber! 99% of penney stocks are scams, but with only that 1% you can be rich Posts: 436 | From: University of Sounthern California | Registered: May 2005
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posted
hi all i was reading a post on rb and thought some might like this info.this is from a shareholder that gets the chance to speak with ed i hope that the auther doesnt mind.
"Mosdef, he hasn't told me anything in specific but has promised that the T/A would be ungagged after the closing of the Memphis hotel. Don't ask me what one has to do with the other, I couldn't even imagine. He has said that the closing of the Sanibel in Bonita Springs will be the 15th of August and there are other things in the works, but he didn't elude to what they were. All he said was that there are negotations that are on going. Nothing more. A couple of other things he did mention: that he should be getting the noble list within the next week or two. He also stated where do the shareholders think the money came from for the purchase of the property in Memphis. He has stated that it is his money he is putting up. He has said he hasn't been dumping because he is the biggest shareholder and it does him no good to have the pps at these levels. The one reason I think he is willing to hold civil conversations with me is that I never call up yelling, screaming or bitching at him. He has complained to me many times that most shareholders call and start yelling at him off the bat. I simply try and stay civil. Also we talk about other things besides the business like sports. I have learned that the old adage is true, you catch more flys with honey than with vinegar. Look I am not happy with where the PPS is at this point in time. I have invested at all levels including the high of .0009. My average is over .0004 right now. If I would have known the pps was going to be this low again, then I would have waited and bought in at these levels. Do I still have faith in the company, yes. I will tell you why; Ed has a plan (maybe not the most perfect one) but he does have a business plan. He will have added the Memphis hotel as of the 27th of June. It is an on going operation. It is a turn key operation that is fully functional at this time. There is a restaurant on the same property that will be converted to a Sanibel Steakhouse. Hopefully that means more revenue for the company. If he does release the gag on the T/A and can show there is a Nake Short then we might have a chance at a nice run. Could I lose all my money-yes, but I am a gambler at heart and willing to take that chance. Seriously, if you can pick up shares at .0001, why wouldn't you. JMHO though."
Posts: 629 | From: new england | Registered: Feb 2005
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I'm out of this one. Its just a choice I made after sitting and waiting and after trying to book the hotel and conference center and no replies to myself or my associates. I then proceeded by sending a property which would benefit the ICAN shareholders that I came across in my travels of a hotel 200 rooms and franchised resteraunt in it for the next 2 years. It is generating 1.5M a year gross and the owners would finance if qualified buyer. I got nothing back from them at all. That says enough to me to get my money and go to the next one. Good luck to you all and hope for the best for you.
Posts: 200 | Registered: Aug 2004
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posted
AM I A BAG HOLDER? HEHEHE not sure really but i have 8 million at a much higher price and sorta feeling like maybe i got worked again.oh well.im a gambler as well so im holding onto my shares and trying to add a couple mil more at .0001.still no fill ill post if i get a fill not sure though if anyone really cares.
-------------------- gotta know when to hold em and when to .......... Posts: 1525 | Registered: Mar 2005
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Noah I am still here and waiting for better days with this one
-------------------- 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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I can understand no PRs and Ed not wanting to talk to shareholders. Bmaxingout's excerpt sort of supports this. If every time you put out a PR, shareholders were hassling you (and I have heard stories of hassling anyone mentioned to be associated with ICAN) I wouldn't be saying much anymore, either.
I think I would like to see a R/S. There isn't anything fundamentally wrong with a R/S. The problems arise when a company can't support the R/S price. Say ICAN did a 1:1000 reverse. The new price would be between .10 and .20. If the company can't support this price then it falls and you have a pre-split price that is sub .0001.I think ICAN could support this price if it wasn't cornered with the MMs on the pinks.
This thought is way out there, fairly baseless and more a question. Is there a quiet period involved with moving off the pinks to a different exchange? I remember having blackout periods for one of my companies but it's not exactly the same thing.
As for the company, I didn't gather much information, but wasn't there a verbal offer for the restaurants somewhere in the neighborhood of $8M a few months back? This may have been nothing more than talk. If I was going to buy an asset of a company for $8M, why not buy as much of the entire company as possible? $8M would theoretically buy 12B shares at about .0007 which is a premium to today's price.
As for Ed, I don't know the man. I've only a little research and a lot of rumors to go on. I can't imagine that ICAN is a complete sham unless all the assets are tainted or misrepresented. That would be a big reach for someone, especially in this day of ambulance chasing security lawyers.
Under the stock dumping category, I really don't get it. Why dump stock at these levels? It makes no sense unless there isn't anything substantial to ICAN. Dump 5B shares, you have what? $1M? That doesn't even buy the latest asset of the company. Doesn't make sense to legally expose yourself for $1M. It's pocket change.
I'll just sit here and wait with my shares until I get some real info on what's going on. The risk/reward ratio is still positive for me. I'm in cheap compared to many so I can afford to be optomistic and I understand that. I am still working on the premise that if the PPS reflects the value of the company and assets in the least bit, there will be some very happy shareholders in the future.
Posts: 97 | Registered: May 2005
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posted
me to noah i am in this .0005 and holding 15 million / can't seem to get filled at .0001 would like to bring my average down.
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
nomar, I beleive that ny has been buying his shares at .0001-.0002 so in that he would be in for cheap money.(wish i was,...lol)
ny, I also beleive that ican is a great company but i sure hope that we dont see a reverse split.What I'm hopeing for is that ed has bought a very large portion of the o/s,ungages the ta to prove that the o/s is somewhere around 2 bill. And then become fully reporting. see a rs would sound to most of us that have been buying ican from the begining like a scam. I think that Ed will do the right thing it just might take a little longer then I had hoped for. GLTA
bmax,
Posts: 629 | From: new england | Registered: Feb 2005
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posted
here is a better way to reward the faithful buy back the float minus say one million shares call a div for around .01-.02 per share and break the backs of the mm's and brokers that shorted us. you would bet that they wouldnt mess with ican again.investors would be singing hail ed long live ed,....lol
now that would be a dream come true
Posts: 629 | From: new england | Registered: Feb 2005
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posted
I am still holding this.With all the hype it's starting to sound like the qbid thread.I hope this goes up soon because with these kind of stocks the longer it lingers around .0001 the more likely it willl R/S.with the O/S in the billions.
Posts: 1326 | From: Providence,RI,USA | Registered: May 2004
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posted
i remember when i brought up the possibility of an r/s snd it would not be all that bad i was sure atacked
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
well folks been out all day and came back to see that my order for another 2 million shares filled.im currently holding 10 million at about .0003 per share.not too bad but this stock has sure been dissapointing for me.ive had to buy it so many times to get to a decent inpoint and i dont know if ill ever get any reward for holding this.i still have a bit of faith in it other wise i wouldnt be still buying it up.i will continue to buy only @ .0001 or avg up if i see this maybe breaking out one day.best of luck to you all and lets just hope for better days ahead.
i think ican ,i think ican ..........
-------------------- gotta know when to hold em and when to .......... Posts: 1525 | Registered: Mar 2005
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