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IBCX is on its way to 5 cents.There is no news to justify the big jump today.Somebody must know something behind the scene.The buying has been on consistently for many days without news.
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quote:Originally posted by mv: IBCX is on its way to 5 cents.There is no news to justify the big jump today.Somebody must know something behind the scene.The buying has been on consistently for many days without news.
I don't think there is considerable buying going on. Over the last week the volume averages less than a million shares. I don't know why the price spiked over a penny. Maybe news is on the way but I'm not getting overly excited over this small volume.
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Let's hope that two things are going on, First, a positive audit is ready to be produced, and second, the company is buying back and retiring a few shares every day.
I'd like to see the shares in a steady decline from 188M.
-------------------- It's choice - not chance - that determines your destiny.
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A reverse split would tank this thing. We already had a reverse split which was follow with a stock dividend. The end result is we are back to were it was selling before the reverse split. The only thing that will get this thing moving will be an audit, which we have been promised for year now. A reverse split will most likely end up with complaints filed against the company with the SEC, which would be valid, and probably lawsuits.
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We are working on a new and improved website with more detailed information and the audits are closer than ever, I know its been a long drawn out issue but there is a lot involved.
Regards,
Investor Relations
-------------------- It's choice - not chance - that determines your destiny.
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Nope they arent buying anything and I dont think they will at this point. About the only card they have left to play is a r/s or manipulate the stock price
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another reverse split would kill the pps. it would be the last straw for those of us who are long with this one. we have already gone through a R/S and received a small stock dividend. but another R/S would surely send some to the SEC for an investigation.
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Audit should come with filing for otcbb or nasdaq small cap.This stock should be known to a wider audience to fully take off.I believe the audit is ready.They just wait for the right time to release it.
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Multiple e-mails and phone calls usually gets me some sort of answers, though maybe not valid, but haven't been able to get anything in some time.
With all the assetts I don't think this thing is dead but I'm starting to think the last PR of a property sale was needed to keep the operation running rather than some wind fall as was in the PR.
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IBAC Corporation Reports Third Quarter Revenues Friday October 13, 9:07 am ET
NEW YORK--(BUSINESS WIRE)--IBAC Corporation (PINK SHEETS: IBCX - News) today reported revenues for the third quarter of $2,942,842.53 these revenue figures are based upon internal records and are subject to verification by the company's independent accountants and auditors. ADVERTISEMENT
The company will be publishing a pre audit Financial Statement by the months end on the company's website, with audited financials to follow soon after.
The company expects to have revenue of $9,500,000 to $10,000,000 for the calendar year of 2006.
The company expects a significant increase in revenues for the forth quarter as the company's restaurants in the Florida market will be entering the winter season the busiest time of the year for those operations.
The company's Hotel division is realizing significant revenue growth over the same period last year, due to increased traffic and ongoing and completed improvements to the properties.
Mr. Burmaster stated, "The Company has under gone some significant challenges over the past several months and will continue to through the end of the year, with that being said we anticipate experiencing our best year revenue wise and profit wise in the company's short history and we look forward to generating additional revenue based on these positive results as we continue to grow our company."
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hotel, Food Service & Restaurant industries. IBAC now has operations in Florida, Tennessee & Arkansas. For more information, please visit: www.ibaccorp.com.
Forward-Looking Statements
Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.
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A lot of people are on vacation today.When they are back on monday,the real action will begin.This dog won't stay subpenny for too long.Market cap is under 2 mil as revenue reaches 10 mil in 2006.It is rare to see this buying opportunity in a long time.
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IBAC Corporation Holds Negotiations to Acquire a Country Club & Full 18 Hole Golf Course Tuesday October 17, 9:05 am ET
NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets: IBCX - News) today announced that it is holding negotiations to acquire a full 18 hole golf course and country club. ADVERTISEMENT
The property's golf course was designed by the world renowned Alfred H. Taft and includes tennis courts, pool, banquet space, restaurant, bar, pro shop with a resident pro. The property encompasses approximately 200 prime acres.
The company intends to incorporate/build a number of high end single family homes and condos on the property abutting the golf course, thus creating additional profits from the acquisition while defraying the acquisition cost.
"Due to the sensitive nature of the negotiations and the request of confidentiality by the sellers of the property, the deals terms and the location of the property will be disclosed upon the completion of executed contracts, this announcement is being made due to the potential impact on the company's growth plan and the shareholders interest. We are very excited about this potential acquisition as it keeps with the company's philosophy of owning 100% all of the properties that it acquires and expands the company's holdings within the hospitality industry. This acquisition will add several million dollars in revenue for the company," said Wayne Burmaster President, IBAC Corporation.
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.
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