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Once the divedend is given I see this droping a bit for those that just wanted the free shares will dump. I believe that this will be a good time to buy more shares as well.I am still anticipating a r/s sometimes before they got to the other board. Even though if that should happen buying cheap sahers and holding will have it's benift. The last r/s still left me with a decent profit from my accumulation. This is a long not a short and definatley not a get rich over night stock.
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What do you mean this isn't a get rich over night stock, amanick?
Agreed it's not, however, I'd feel a lot better if there was more transparency by now. There have been too many fluff pr's like the last one announcing the intent to purchase two companies. It's great to read but there's been a history of nothing but intent.
I'm anxiously waiting to find out to see what happens at the end of the quarter---just a few days away.
GLTA..
-------------------- It's choice - not chance - that determines your destiny.
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I agree with the PR's on purchases or attempts to purchase. This company has a habit or releasing info before the deal is even inked which I dont belive is in their best interest.If what they are saying is true then no doubt this will make this stock very valuable. But a lot of the deals they look at probably are not feasible once they really look at the whole picture.I am still not understanding why they bought a finance company rather then do a bigger buy back rather the the r/s. Im hoping that they use the finance company to lower there interest cost on the purchases to finance the other projects that they are / will be working on. My prediction is that once this gets to the other board it will take a year or two before we see any significant gains. However if this does go according to thier plans if they stay with it and no more false PR's This could see several dolars very quickly
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amanick, if only we could get to the several dollars quickly without another R/S I'd be rolling in $$$
Here's my speculation.
I originally thought that the company was bought to refinance all debt at favorable and yet less costly fees but now I think this was probably just part of the reason.
The finance company was purchased to give Ed more comfort in what he's doing. This is his background and I imagine he's enjoyed this venture but has taken the company as far as he could without royally messing it up. So, to save face, he bought this company, turned over the reins to the new guy(can't remember his name) with experience.
-------------------- It's choice - not chance - that determines your destiny.
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Casviper - at this stage I agree with what you are saying. Read my postings and you will understand that I am talking long term. I am in long term .If you dont have faith in a stock you shouldnt be in it period.when you approach anything in life with negitivity you get just that out of it. This stock for me has been favorable so far even with thr r/s and the free shares.If in fact the last statement released by the company proves to be on par then we will see a positive outcome.
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-------------------- You can learn many things from children.......... How much patience you have, for instance. Wealth and children are the adornment of life. I have 5 children and 32 day care children now working on the wealth part. heheheh
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NEW YORK, Mar 15, 2006 (BUSINESS WIRE) -- IBAC Corporation (IBCX.PK) announced today that the Board approved 15% stock dividend will be paid effective March 24, 2006 and will be paid and mailed out on March 31, 2006.
The company has not filed for any new regdex/504 and will not do so; the decision was made after long discussions with our advisors. We believe the action will enhance the value of the company and will help create a stronger balance sheet/audit when we apply to the OTCBB for listing.
The reduction in the authorized shares has been filed with the Secretary of State of Delaware this week. This will leave the company with 200 million common shares authorized and with the 15% stock dividend 172,500,000 million common shares outstanding, the balance of 27,500,000 million common shares will remain in the company's treasury and will not be liquidated.
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A fair amount of updating of the website going on this weekend. I know this doesn't do anything for the s/p but the fact that there are changes being made tells me the new guy is giving a pretty good look around the company and making changes.
-------------------- It's choice - not chance - that determines your destiny.
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IBAC Corporation Holds Talks to Acquire Additional Eight Steakhouses in the Northeast Region Monday March 20, 8:30 am ET
NEW YORK--(BUSINESS WIRE)--March 20, 2006--IBAC Corporation (PK:IBCX) announced that the company has held discussions to acquire eight additional steakhouses in the Notheastern part of The United States from two separate parties to be named at a later date.
ADVERTISEMENT [0] The Steakhouses operate similar to the Outback/Lone Star Steak House operations and operate in the states of New York, Vermont, Massachusetts and Connecticut. The combined revenues represented by this potential acquisition would represent 18 to 21 Million Dollars per year in additional revenues to the company.
IBAC Corporation operates Hotels & Restaurants with over 125 employees in three states Tennessee, Arkansas & Florida with revenues for 2005 of 4.5 Million Dollars if the company is successful we will add an additional eight restaurants and over 200 employees.
"With the required due diligence involved in any acquisition or merger, we will not yet name the candidate until our review of the company's inventory, assets, financial statements is complete and a definitive agreement is signed. We do however, wish to inform our shareholders of this potential acquisition, given the potential impact on operations," stated, Wayne Burmaster President and COO. "We expect the due diligence process to be completed in sixty days and, pending a favorable outcome, a definitive agreement would be entered into immediately."
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IBAC Corporation Today Has Agreed to Acquire the Sanibel Steakhouse in Bonita Springs, Florida Wednesday March 29, 10:52 am ET
NEW YORK--(BUSINESS WIRE)--March 29, 2006--IBAC Corporation (PK:IBCX) announced today that they have reached an agreement and tendered a deposit to acquire the Sanibel Steak House in Bonita Springs, Florida. ADVERTISEMENT
The Company had previously contracted to acquire the Steakhouse and decided not to exercise its option to purchase said restaurant for administrative reasons at that time, at this time however the company as it looks to increase its operations in Florida has determined that this acquisition would fit with its growth strategy going forward and has agreed to acquire the restaurant.
The restaurant will add an additional 2.5 to 3 Million dollars a year in revenue and will increase the company's visibility with another location. The Restaurant will be renamed The Sanibel-Palms Steakhouse like its Ft Myers unit (www.thesanibelpalmssteakhouse.com), the closing date for this property will be on or before May 1, 2006.
The acquisition will include a five year lease with an option for an additional five years along with an option to acquire the land and building at a price to be determined. The acquisition price is $900,000,00 dollars for the business and is being paid for by the company's private line of credit.
"We are thrilled with this acquisition and will complete all contracts, lease's and due diligence involved within the next two weeks of the restaurant's inventory, assets and financial statements. Stated, Wayne Burmaster President & COO. "We expect be adding more restaurants and a hotel in the near future in the Florida market."
-------------------- It's choice - not chance - that determines your destiny.
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on again off again - who knows if this transaction will actually go through. it didnt last year. oh and off topic - ive been to this sanibel steakhouse location. its the best one of the four existing sanibel steakhouse locations.
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