IBAC Corporation Creates a 100% Wholly Owned Subsidiary and Reaches an Agreement to Acquire Country Club & Golf Course Thursday October 19, 9:52 am ET
NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets: IBCX - News) announced today that it has formed RCC Management Company as a 100% wholly owned subsidiary of IBAC Corporation for the purpose of acquiring the country club & golf course. ADVERTISEMENT
The company has successfully negotiated the purchase price of the property and has received contracts for the acquisition, the contracts are currently under review by the company's attorneys and we expect to sign/execute said contracts by weeks end.
The property's golf course (72 par/6,908 yards) was designed by the world renowned golf course designer 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.
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.
posted
Preliminary financials are out.Go to raging bull to have a look.IBCX is ging to explode.Congratulations to all the faithful longs.
Posts: 107 | Registered: Sep 2005
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posted
AltaVista News: SportsThe 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 ... uk.altavista.com/news/cats?nd=5q=&nc=8&sc=307 - 26k - Cached - Similar pages
Typed Alfred H. Taft golf in google and got the above article. Taft is a real guy
Posts: 1101 | From: Georgia | Registered: Apr 2006
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By the way, how does IBCX have so many errors in their PR's? They need to hire an outside PR company. Wayne can't write worth a hoot.
Posts: 1295 | From: New Jersey | Registered: Dec 2004
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posted
It is ok.He is a hotel manager,not a writer.I understand him.It seems he is doing a good job though.The company is profitable.
Posts: 107 | Registered: Sep 2005
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posted
We don't know that the company is profitable. We never hear a peep on debt.
Posts: 1295 | From: New Jersey | Registered: Dec 2004
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quote:Originally posted by mv: It is ok.He is a hotel manager,not a writer.I understand him.It seems he is doing a good job though.The company is profitable.
He's the freaking President. There is no way he should make as many mistakes as he does. I have no confident in him running the show.
NEWS: IBAC Corporation Executes Contracts to Acquire Country Club & Golf Course Tuesday October 24, 9:02 am ET
NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets: IBCX - News) announced today that it has executed its side of the contracts to acquire the previously announced acquisition of a private country club and golf course. The acquisition when completed will be owned by RCC Management Company a 100% wholly owned subsidiary of IBAC Corporation. The company expects the selling party to execute its side of the contracts by the weeks end. ADVERTISEMENT
The property's country club & golf course (72 par/6,908 yards) was designed by the world renowned golf course designer Alfred H. Tull 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.
"We are very excited with this acquisition as it opens a whole new stream of revenue and adds a significant real estate owned property to our portfolio, the number of profit centers involved with this property are extremely exciting, membership fees, wedding receptions, liquor and food sales, catering etc. Upon the execution of the contracts by the selling entity we will provide full details of the property being acquired and its location, we just want to make sure that the contracts are fully completed prior to the announcement, we are issuing this information and the its progression due to the significance and impact that it will have on the company as this will be a major acquisition and a huge step forward in the company's growth plans," 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.
posted
I wonder how much will be added to the current revenue with this acquisition.Now we know ibcx is a good company.I believe the company is ridiculously undervalued.I wish I had more money to buy.
Posts: 107 | Registered: Sep 2005
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IBAC Corporation Board of Directors Approves Budget to Add Additional Real Estate Owned Properties Thursday October 26, 9:12 am ET
NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets: IBCX - News) today announced that its Board of Directors has approved an aggressive business plan to acquire more real estate owned properties, they have authorized a budget of $100 million dollars, (of bank financing for the project), as the board believes that this is the only way the company can achieve its stated goals and objectives. ADVERTISEMENT
The company has been pretty passive with its acquisition strategy, now that the board of directors has approved a definitive budget, the company executives will pursue additional acquisitions like the country club/golf course aggressively.
"I am very excited that the board has given me the authority to pursue many prospects that I have negotiated but have not been able to execute, We will pursue those acquisitions very aggressively as they will result in major revenue and assets to the company's balance sheet," 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.
posted
We should be cautious.The pps hasn't gone up despite all the good news.There is a possibility the company is selling shares to raise money.The TA is gagged again.IMHO
Posts: 107 | Registered: Sep 2005
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posted
100 million for acquisitions. Wow. And where would they get that? They can't seem to get any property without doing a 49-51 split. I just don't get it.
Oh and mv you're rich. Me too. But the massive inflation effect makes it around 50 bucks
Posts: 350 | From: Portland, Oregon | Registered: Jan 2005
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posted
hehehe.Keep hope alive.Maybe Ed is not diluting because that is the most stupid thing a CEO can do at this important time for the company.IBCX has a bright future,but dilution may kill it.
Posts: 107 | Registered: Sep 2005
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posted
This stock is on the road to nowhere.I've been in it for years with nothing but empty promises. I wish I could break even and unload this POS!
Posts: 806 | From: CT | Registered: Dec 2005
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posted
Don't know what you're talking about. This thing is on the way up. You just sit tight for another 2 or 3 years. You'll see this thing blast off. Might even see .01 by then.
I'm really hoping to finally see something positive in the near future. But their track record with PR's and actually achieving them is not so great.
Good luck to all of us.
Posts: 350 | From: Portland, Oregon | Registered: Jan 2005
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posted
Another 2 or 3 years to get to a penny.... And you think this is good. There are some of us who have had this stock for a couple of years already AND got screwed when they did a reverse split. So we own less shares and the pps is worse NOW then before the R/S. POS!!!
Posts: 806 | From: CT | Registered: Dec 2005
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Don't you get sarcasm? I'm one of those who took it in the shorts. I was hoping this thing would be above .05 by now...and that was before the split.
Stupid me, I listened to the PR's about the growth strategy, the stock buy back, and ED saying they had an unsolicited offer. That all while they diluted the **** out of it, posted PR's about this and that acquisition and the many other positive sounding PR's regarding monthly numbers, audits etc. It's been a wonderful ride for me too.
Posts: 350 | From: Portland, Oregon | Registered: Jan 2005
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posted
I love reading all the posts. I get a good laugh at all the humor here for sure.I am sitting on a very large share of this stock. I will continue to hold it as long as neccesary just to see what the out come will be.I doubt we will see anything come of this for a very long time. It is obvious that there is no buy back going on.I do know that there is alot of buying of properties that is going on by reading the press releases but have a serious concern about the debt this company is taking on because we have no idea where the money is comming from to begin with nor have we seen an audit. This company is not to be trusted at all. They have not been honest and forth right from the begging and I wouldnt read to much into the pr's. I would think that in the next few months if a audit isn't released that compliants should be brought to the sec to investigate how much of the pr's are true and why the audit has'nt been released.The reality of this is that some of us bought into this because we believed the pr's that went out and have an interest in the long term positions that we hold. Thoise that went for the quick buck are more disappointed in it.Saying that I think we can just forget this for a few months and then perhaps we should all settle on a date to file complaints if an audit isn't forth comming
Posts: 332 | Registered: Jun 2005
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quote:Originally posted by mikensay: Damn Casviper.
Don't you get sarcasm? I'm one of those who took it in the shorts. I was hoping this thing would be above .05 by now...and that was before the split.
Stupid me, I listened to the PR's about the growth strategy, the stock buy back, and ED saying they had an unsolicited offer. That all while they diluted the **** out of it, posted PR's about this and that acquisition and the many other positive sounding PR's regarding monthly numbers, audits etc. It's been a wonderful ride for me too.
Sorry Mike, I've just lost all my patience with this stock. We have been lied to soooo much by this company.
Posts: 806 | From: CT | Registered: Dec 2005
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posted
Give Ed a few more months.Who know?Maybe he will show us a good audit and file for otcbb.After all,he holds more than half the outstanding shares and he will have 10 mil dollars if the pps reaches 10 cents.It is in his best interest to make the pps go up.
Posts: 107 | Registered: Sep 2005
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IBAC Corporation Unit Announces Alignment with the American Basketball Associations (ABA) Arkansas Rivercatz Wednesday November 1, 9:01 am ET
NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets: IBCX - News) today announced that it has entered into a sponsorship/alignment with the new Arkansas Rivercatz (http://www.rivercatz.com) of the American Basketball Association (ABA) (http://abalive.com) team in Pine Bluff, Arkansas. ADVERTISEMENT
The Royal Arkansas Hotel & Suites, Inc., a majority owned subsidiary of IBAC Corporation, will be the official hotel of the Arkansas Rivercatz. The team will play all its home games at the adjoining Pine Bluff Convention Centers Arena (http://www.pinebluffonline.com/conv/arena.html). The company will also handle all concession sales through its contract with the Pine Bluff Convention Center, as contracted exclusively with IBAC Corporation's National Hospitality Management Services Unit.
About the American Basketball Association:
The ABA experienced tremendous growth in the 2004-2005 season with more than 30 teams competing for the ABA Championship. One of the teams competing was the Kentucky Colonels, one of the original ABA teams, which won the ABA Championship in 1975 before the NBA/ABA merger that brought the Indiana Pacers, New Jersey Nets, Denver Nuggets and San Antonio Spurs into the NBA. The Colonels are owned by Stephanie Roach, the first African American female owner of a professional sports team. Tree Rollins, former NBA great, became the GM, the first of many former NBA stars to join the ABA.
2004-2005 brought other historical events. Nashville Rhythm made ESPN headlines with the first female head coach of a men's professional basketball team - and headlines again - when she was dismissed. The ABA signed its first corporate sponsor, Pit Bull Energy Drink, who also presented the ABA Championship Trophy to the Arkansas Rimrockers after a game attended by nearly 15,000 screaming fans. The Bellevue Blackhawks, led by Coach of the Year Rick Turner, was defeated in the game. Bellevue rose from the #13 seed to make the finals, and did it with a team made up of local players.
In addition, the major expansion created the most diversified professional sports league ever with over 60% of the teams made up of ownership groups comprised of African-Americans, Hispanics, Asians and women. Teams included: Atlanta Vision, Arkansas Rimrockers, Bellevue Blackhawks, Boston Frenzy, Calgary Drillers, Carolina Thunder, Cincinnati Monarchs, Colorado Storm, Detroit Wheels, Fresno Heatwave, Reigning Knights of Georgia, Harlem Strong Dogs, Hermosillo Seris, Kansas City Knights, Kentucky Colonels, Las Vegas Rattlers, Long Beach Jam, Los Angeles Stars, Louisiana Cajun Pelicans, Maryland Nighthawks, Mississippi Stingers, Nashville Rhythm, New Jersey Skycats, Ontario Warriors, Orange County Buzz, Pennsylvania Pit Bulls, Philadelphia Fusion, Portland Reign, St. Louis Flight, Texas Tycoons, Tijuana Dragons, Utah Snowbears, Visalia Dawgs.
About IBAC Corporation:
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.
posted
Uffff it seems that the OS have been increased :/ : Here are the latest numbers: AS 500,000,000 million shares OS 206,937,482 million shares
Posts: 18 | From: Valencia | Registered: Dec 2005
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posted
The best time to buy is after a panic selling.Ibac is still doing business as usual.It hasn't died yet.Stop the moarning and buy.HEhehe.
Posts: 107 | Registered: Sep 2005
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