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IBAC Corporation Reports February Revenues Business Wire - March 02, 2005 12:13
NEW YORK, Mar 2, 2005 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:ICAN) today reported February 2005 revenues of $415,971.98 combined for The Sanibel Restaurant Group and The Royal Arkansas Hotel & Suites compared to January combined revenues of $245,872.27.
For the month, The Sanibel Restaurant Group revenues increased $108,364.90, or a 44 percent gain, over the same period last year. The Royal Arkansas Hotel & Suites revenues increased $95,616.00 or a 56 percent gain over the same period last year. (The company did not own them last year)These revenue figures are compiled from internal company accounting/bookkeeping and are subject to an audit by the company's independent accountants/auditors.
"We are very pleased with the operating results of these two subsidiaries and attribute the growth in revenues to the management capabilities of Mr. Karl Wenzel and Mr. Gary Becker respectfully. The significant growth was achieved because of the company's ability to recognize undervalued and mismanaged properties along with its ability to make acquisitions of such properties rather quickly. We will continue to use this formula to grow the company and continue to seek additional synergistic properties through mergers, acquisitions or the creation of new entities to maximize revenues," said Edward W. Hayter President & CEO.
The company's other two subsidiary's National Hospitality Management Services which holds the contract for all food, beverage, catering & concessions at The Pine Bluff Convention Center had only a partial month of income and will be reported within the March revenues, The Royal Entertainment Group had no revenues as it has recently established and will report revenues as the are received on a monthly basis.
The Company also intends to complete the already contracted acquisitions of the Bonita Springs property within 90 days and the Naples property within 120 days.
About IBAC Corporation
IBAC Corporation, a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group / National Hospitality Management Service/ The Royal Entertainment Group and The Royal Arkansas Hotel & Suites IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments.
Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
quote:Originally posted by Mack: yooooooo ric this was posted lower on the other ican message but i hear ya!!!!
Hey Ric, Just wanted to know if talked to Ed lately and had any news other than what we already know.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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The only news that counts is that the PPS is down and the bid/ask is going nowhere. Not good, PPS looks to be going south this week
Posts: 149 | From: wilmington,de,usa | Registered: Mar 2004
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quote:Originally posted by stockguy123: The only news that counts is that the PPS is down and the bid/ask is going nowhere. Not good, PPS looks to be going south this week
Get a life, if you don't own, don't bash for the hell of it.
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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Nothing, just posting the way it is. Why buy now when you can get it @0001-0002 soon ?
Posts: 149 | From: wilmington,de,usa | Registered: Mar 2004
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quote:Originally posted by stockguy123: Nothing, just posting the way it is. Why buy now when you can get it @0001-0002 soon ?
Since we are posting how it is. Your a loser. Get a life. I hope your around next quarter when this thing skyrockets. I'll make sure to send you pics of the new car then.
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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Stockguy, so your saying that it is going to hit .0001, does that mean you are going to buy, because it is going to go back up? I don't understand what you're trying to accomplish?
Posts: 98 | From: South Texas | Registered: Feb 2005
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Gosh stockguy123, if you know all about these micros why are you here instead of on your own island enjoying life?
The way is that there is going to be a spinoff of a new company, of which is not going to be publicized as to the date and shares in the spinoff WILL be worth $$.
It is HIGHLY possible that .0002 will never happen prior to the spinoff.
Your opinion that .0002 will happen is pretty much worthless. You don't know any better than the rest of us. You could at least add something intellegent to back your reasoning that it will go back down to those levels.
Because I said so is not a good reason.
-------------------- A day without dreams is just a nightmare! Posts: 1702 | From: Michigan | Registered: Oct 2003
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Go into his stockguy123's profile and take a look at his last 50 posts. He must be obsessed with ICAN, almost every post that he has made in the last two weeks is bashing this stock. I counted approximately 20 out of 25 posts slamming ICAN. Now, he can't be that worried about our investments to keep "warning" us of our impending "doom". Must be some other motive.
I don't post often, I most often just read, but I had to put my two cents in. I just have to laugh everytime he posts one of his Debbie Downer opinions.
-------------------- You Can't Have Everything...Where Would You Put It? Posts: 61 | From: Baltimore, Maryland | Registered: Feb 2004
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I did check his profile, he has actually added nothing to any of the threads he has posted. Just opinion with no reasoning to back up his opinion.
-------------------- A day without dreams is just a nightmare! Posts: 1702 | From: Michigan | Registered: Oct 2003
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Jonathan, I would love to see pictures of your new car. Everyone, take a chill pill. Just think how many more shares you can buy @0001-0002
Posts: 149 | From: wilmington,de,usa | Registered: Mar 2004
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That's alright. I'm writing a letter to IBAC right now. I'll let them know about stockguys posts. I just read a post about how ADOT is sueing a lady for bashing. Maybe we can get stockguy in the news.
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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Okay guys. The MMs are playing some big games with this. I just wanted to try something so I put fairly small sell order in at .0005. It sat there for 10 minutes and then a big order went throught at .0006 without mine even executing. I have cancelled the order but it seems to me that the MMs are playing games with this and deciding what orders to fill and which ones not to.
Posts: 1006 | From: Camp Hill, PA, USA | Registered: Mar 2004
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My guess is that most of this weird trading that is occurring once they move over to the OTCBB. Then this thing will explode. That's what I hate about pinks. You are kind of left in the dark when it comes to what is going on. No fears here. I'm not, selling, inorder to try and get in cheaper. I'm in at .0003 so that's what I'm setlling with. Never know when huge news will come out on this one. Even if it did drop back down to .0001 which I highly doubt. I wouldn't sell. I'd probabl buy up another 20 mil or so. Anyway. everyone has their own opinions Stockguy123 but when you bash a pick with nothing to back up your accusations, then you're just hurting peoples wallets. I'll make sure to report you.
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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Like I said, I'm saying the way it is happening. By the way, bid is now 0004. Blame the MM's, I was just suggesting people hold for the best price based on the PPS movement
Posts: 149 | From: wilmington,de,usa | Registered: Mar 2004
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My guess is that he's bashing hopeing that folks will get scared and sell, in hopes that he can get in cheaper.
Posts: 839 | From: Lynn, MA | Registered: Jan 2005
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Again, I'm not bashing, the MM's control the pps movement. Of course I want to buy low and sell high, I believe that is what most people like to do
Posts: 149 | From: wilmington,de,usa | Registered: Mar 2004
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