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» Allstocks.com's Bulletin Board » Micro Penny Stocks, Penny Stocks $0.10 & Under » ICAN in review! All DD! (Page 82)

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Author Topic: ICAN in review! All DD!
Leardron
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quote:
Originally posted by NomarKash:
I agree fully Leardon. But where did COB 6/29/05 come from? Where did that date actually come from? I know he pubically said he is going to notify the current O/S, but did he pubically give a date?

No, he didn't give that date publicly. He told several investors this in conversation. I realize that this latest lie cannot be used in any suit we just decided to give him one more chance to come clean.
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ACKCANE
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LOL!! OK, please keep us up to date on that lawsuit.
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NomarKash
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Something must be going right, I just saw it hit .0003
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Galaxy
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5000 @.0001 ->12:24:39
5000 @.0003 ->12:26:12

--------------------
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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ACKCANE
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fifty cents and a buck fifty for a trade? Why?
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stockaholic
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Well, PR or no PR, the T/A is most definitely still gagged. I just called them
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mikensay
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quote:
Originally posted by stockaholic:
Well, PR or no PR, the T/A is most definitely still gagged. I just called them

I imagine they are being inundated with phone calls. Did you get any information out of them?

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It's choice - not chance - that determines your destiny.

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stockaholic
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Basically... "You will have to call the company for that info, now ***k off!!" LOL!! Just kidding but as far as her attitude goes, it sounds like she may have said that a couple times today.
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TraderTom
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If I remember correctly, Ed supposedly said he'd ungag the TA after he announces the closing of the hotel deal in Memphis, on June 29. I never understood why ungagging the TA would depend on the closing ...

With regards to the hotel deal, somehow the closing must have been delayed - happens all the time because paperwork isn't ready or other reasons. So do we say Ed lied about the hotel deal? That's entirely silly.

Don't misunderstand me, I'm also disappointed that the "big day " has come and nothing has happened, but I'm also will to wait a little longer - I've been waiting long enough.

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mikensay
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I think back several pages in the posts the discussion was that ungagging after the closing of the deal would soften the blow since Ed had previously indicated that the O/S was smaller than it really is.

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It's choice - not chance - that determines your destiny.

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TraderTom
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According to the PR from June 02, the closing date of the Memphis hotel was supposed to be June 28, so we're overdue on the closing. They basically gave themselves a 1 month closing period. If you ever made a real-estate transaction, you'll know that 1 month is rather ambituous.

==============================================

IBAC Corporation Completes Contracts to Acquire the Memphis Airport Ramada & Confirms Closing Date

NEW YORK, Jun 02, 2005 (BUSINESS WIRE) -- IBAC Corporation (PINK SHEETS: ICAN) today announced that they have completed the definitive contracts whereby IBAC will acquire the Memphis Airport Ramada & Restaurant that they won as high bidder at a public auction held on May 25, 2005, upon the completed transaction the property will become a wholly owned subsidiary of IBAC. The closing of the acquisition is June 28, 2005.

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Galaxy
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www.sos.arkansas.gov/corps/search_corps.php

Is anyone have any idea about these filling in Arkansas (ROYAL ARKANSAS HOTEL)

Search Incorporations, Cooperatives, Banks and Insurance Companies

Corporation Name THE ROYAL ARKANSAS HOTEL & SUITES, INC.
Fictitious Names N/A
Filing # 800037685
Filing Type For Profit Corporation
Filed under Act Dom Bus Corp; 958 of 1987
Status Good Standing
Principal Address

Reg. Agent QUEST RESEARCH INC.

Agent Address 101 SOUTH SPRING STREET, SUITE 220

LITTLE ROCK, AR 72201
Date Filed 07/12/2004
Officers EDWARD HAYTER , Incorporator/Organizer

Foreign Name N/A
Foreign Address

State of Origin N/A

--------------------
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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tntrader
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word on RB is that the company that actually bought the hotel is separate from ICAN.
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Leardron
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quote:
Originally posted by tntrader:
word on RB is that the company that actually bought the hotel is separate from ICAN.

The Royal Arkansas Hotel & Suites is a subsidiary of ICAN. It is still part of ICAN even though the asset is under that subsidiary.
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nyinvest
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Leardon has got it. If you look at the description of ICAN, it reads:

"...IBAC Corporation, through its operating subsidiaries, The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/Monarch Entertainment Group Worldwide..."

additionally, they have also said:

"IBAC Corporation is a New York based holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant Industries. "

This doesn't worry me in the least bit. It is a valid operating structure and it would (will?) be of use in any spin-off or selling of assets. It puts hotel, restaurant and other operations into their own operational units.

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bmaxingout
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tell you the truth i wouldnt put too much into anything that comes off rb its full of bashers that spend hours every day trying to bash ican
all i can think of is that they must be getting paid for bashing or they just really need to get a life

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bond006
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with all this bashing on rb and all this doubt on our board i think ed needs to at this time make a pr and let investores know what is going on. there is talk out there now about ican being a shell that was used to move assets to another shell and we are bagholders. this has got to be put to rest
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ya ya
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i wouldn't doubt that one.I always end up a bagholder.
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bond006
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word is on rb the t/a is un gagged 11.4 billion and 5.2 billion in float i think i will call
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ya ya
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oh my,If that's true we are in a world of chit.
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bond006
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« ICAN Message list | Reply to msg. | Post new msg. « Older | Newer »
By: CWY48
30 Jun 2005, 03:34 PM EDT
Msg. 33896 of 33900
Jump to msg. #
11.4 billion less Eds 6.2 billion==5.2 billion in the float.

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Leardron
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quote:
Originally posted by bond006:
« ICAN Message list | Reply to msg. | Post new msg. « Older | Newer »
By: CWY48
30 Jun 2005, 03:34 PM EDT
Msg. 33896 of 33900
Jump to msg. #
11.4 billion less Eds 6.2 billion==5.2 billion in the float.

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Just been confirmed. It IS ungaged! But they won't tell you how the O/S is broken down. We still don't know if the Resticted shares are still restricted. All we know now is that the O/S is 11.4 Billion.
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stockaholic
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Where did you get that info?
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nyinvest
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Well, if the breakdown works out to a 5.2B float, that is good news all the way around. Ed hinted that there would be more shares than the 1.5B out. I've been working off a number of 6B and was happy.

It also means that Ed is doing exactly what he said he would. Memphis closed, T/A gag is off.

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bond006
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glad you got thru leardron busy 411 conected me 2 times both busy did not give number.

looks like for better or worst ed does what he says

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Leardron
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quote:
Originally posted by stockaholic:
Where did you get that info?

the 11.4 Billion O/S came directly from the TA. They said that Ed just ungagged them this afternoon.
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going for gold
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if the o/s is 11.4,what would the pps now,can someone do the math
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TraderTom
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The total O/S makes some sense - if you add up all the volume over the past 4 weeks or so, you end up with 9-10 billion shares = that's when the dilution happened.

And if Ed turns out to have bought half of the diluted shares, then I'll be happy to hang on to my shares. As long as the dilution stops now, we'd be fine with these numbers.

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NomarKash
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quote:
Originally posted by nyinvest:
Well, if the breakdown works out to a 5.2B float, that is good news all the way around. Ed hinted that there would be more shares than the 1.5B out. I've been working off a number of 6B and was happy.

It also means that Ed is doing exactly what he said he would. Memphis closed, T/A gag is off.

Do we know Memphis is closed?

If yes, I envision two PRs tomorrow before the holiday weekend.

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Leardron
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quote:
Originally posted by going for gold:
if the o/s is 11.4,what would the pps now,can someone do the math

Well that all depends on whether the 6 Billion are still restricted or not.

If 11.4 Billion is the float and the value of the company is 30 Million then it should be around .0026

If it is 5.4 Billion then you are looking that it should be around .0055

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nyinvest
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Well, simple math of 11.4B x .0002 gives you only $2,280,000.00.

The new Memphis property is appraised for about that alone.

If you take the May revs and extend them, you get revenues of just over .0003

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nyinvest
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I am assuming (I know, risky around here) that Memphis did close for two reasons.

People are saying ICAN is a scam because it looks like Arkansas Hotels owns the Memphis property now and #2 it was said that the T/A would be ungaged after closing.

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stockaholic
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quote:
Originally posted by Leardron:
quote:
Originally posted by stockaholic:
Where did you get that info?

the 11.4 Billion O/S came directly from the TA. They said that Ed just ungagged them this afternoon.
OK, thanks. Just don't trust anything anyone says on RB. Well, I'm kind of with NYI. I think we all knew the O/S was more than 1.5 But he did ungag and we still have property, and they are still making steaks in sanibel. I'm sure there will be a big dump tomorow because people want it to be 1.5 but I'm cool with this. Let's grow and move the pps
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going for gold
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thx leardron
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bond006
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i bet the whole o/s is in th float but you know for most of us asset value still works out ok
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