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IBAC Corporation Updates Status of Audited Financials Tuesday November 21, 10:04 am ET
NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets:IBCX - News) announced today that it has a final draft of its audited financial statements and after review will release them to the public. ADVERTISEMENT
"The company and the shareholders have waited a long time for this moment and we are now very excited that now we will be able to become a fully reporting company and file to move up to the OTCBB." Said Wayne Burmaster President
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.
IBCX Valuation Must Read -----> Stock should be trading at .047-.094 conservatively based on a PE of 10-20 after including the upcoming 25% stock dividend and here is why:
Ok lets throw out the numbers and do some math. But before I do that you'll need to refer to this link for the previous unaudited quarterly financials: http://ibaccorp.com/IBACCOMPLETEFINANCIALSSEPT.pdf
Keep in mind we have not yet received this quarters financial results. I have confirmed with the company that they have hired an auditor for audited financials and those numbers will be released near term (see link ---> http://www.ibaccorp.com/auditupdate.php ). I do not have a set date for the release of those financials and I am not going to guess a date and get anyones hopes up.
Here are the numbers as of the quarter ending September 30, 2006: 200 million a/s 188,937,483 shares outstanding and issued and a net profit of $1,070,382.00 IBCX now has 500 million shares authorized 228 million shares Outstanding and 200 million shares in the float. Here is the current Transfer Agent:
TRANSFER AGENT Atlas Stock Transfer Corp. Salt Lake City, UT 84107
Based on current numbers and not reflecting any positive audited financials that are soon to be recognized I come up with the following evaluations:
$1,070,382.00 / 228,000,000 shares Outstanding = .0047 eps per share
Which equals:
PE of 10 = .047 per share PE of 20 = .094 per share PE of 30 = .141 per share PE of 40 = .188 per share
So these numbers are simply sweet, keep in mind this quarters financials are going to be even better!
So now I have to do my numbers over again because of the share dividend. What a deal for all shareholders, you get 1 free share for every 4 you own!
New O/S will be 285,000,000 shares after the upcoming 25% stock dividend (given to owners as of Decemeber 1st, payable to accounts by December 14th)
So the numbers look like this: $1,070,382 net earnings through September 30th, 2006/ 285,000,000 shares outstanding Which Equals = .00376 per share
PE of 10 = .0376 per share PE of 20 = .0752 per share PE of 30 = .1128 per share PE of 40 = .1504 per share
Projected Net revenues assuming continued revenue stream through previous 3rd quarter numbers $1,340,477.50/ 285,000,000 outstanding share after the upcoming 25% share dividend = .0047
PE of 10 = .047 per share PE of 20 = .094 per share PE of 30 = .141 per share PE of 40 = .188 per share
So after doing the above verified math, giving a modest PE of 10-20 we should be trading at .047-.094 per share currently which is 8-14 bags higher than todays close at .007 Keep in mind also that we still have a increase in net revenues coming up for the 4th quarter. So based on the same continued net revenues we should see $1,340,477.50 for 2006 Fiscal year if not higher.That would put us at:
So as you can see traders are going to be flocking to IBCX near term, and with the public release of the audited financials coming up and the share dividend date fast approaching nobody should have itchy trigger fingers. IBCX rsi heading north on the chart but still in the 40's on the weekly chart and mid 50's on the daily a lot of room to go up before a major correction. I've giving you the data now you need to decide for yourself whether to take part in this huge run .
Posts: 1637 | Registered: Apr 2004
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I have an order in and it is taking forever to fill. So far only two partial orders out of 255k.... Loaded and ready for more...Shares are tight....EOM
-------------------- Sometimes I just want a NORMAL life? Posts: 652 | From: 90210 | Registered: May 2005
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