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HAPPY NEW YEAR!
Let's hope for a better '07! GLTA
Binzur
Angel; Are they a pink sheet company. Ed has said that the spin off company is a pink sheet company.
Have a Happy New Year!
Binzur
I would sure like to get at those crystal balls with a sledge hammer!
My apologys! Here I thought you were just an evil basher. I am shocked that he could be that stupid to admit to this board he traded and maybe manipulated the share price by buying and selling while in possession of insider information. Who can trust when he traded and how he traded while having daily contact with the company! The one announcement of selling a bunch of shares was made the day AFTER he sold them. Now that sure seems fishy! Did he buy and then announce he was buying to get the price up because so many follow every word Airys writes. It sure would suck if a bunch of people here traded because of the trust they put in the information Airys was providing them!
JMHO
Wouldn't he have to admit that they have lied to him? That all of the pumping and endorsing he has done of them was in fact passing on lies to everyone here. Then I guess he might be in different trouble. Wouldn't that then be perpetuating the fraud? If this is all lies and fraud and he is a conduit doesn't he become part of the fraud? I sure hope he has talked to an attorney!
JMHO
Where did he say that? I don't believe you! He isn't that stupid to admit to trading while having daily/multi daily contact with Petar and or Steve. Petar is still a consultant and was the CEO through early December. He clearly is an insider. Non public information he passes on is clearly a violation of the statue on Selective Disclosure.
I am so glad they didn't go up and view non public documents as they were saying. I recommended multiple times they talk to an attorney before going there.
http://www.sec.gov/rules/final/33-7881.htm
Say I have a group of 50 investors and we meet once a week. I go to a company and view non public documents and report all back to my group and we go out and buy or sell a bunch. I disclosed my insider information to the entire group so that should be enough, right. Just like Airys telling everyone here. I read one post that everyone who owns SLJB reads this sight! So there are no worries!
JMHO
I don't believe you! He has been clearly informed that doing that would be a violation of insider trading laws! You have no proof that he sold any shares. He wouldn't be that stupid with all of the insider communications he is having with this company!
So as long as Airys hasn't traded since he has been receiving insider information he should be fine! I am so relieved that Airys still owns all of the same shares he owned prior to receiving all of this insider information. I am very relieved for him that he hasn't made any statements to this board about any trading activities since privately meeting with Petar and the CC and all of the text messages, phone conversations etc. I sent him this so he was clear on the SEC selective disclosure insider trading.
http://www.sec.gov/rules/final/33-7881.htm
I know he realizes now that telling this board is not "proper public disclosure" and has made sure not to get himself in further trouble with the SEC!
He has a family and I am very relieved he read this completely and hasn't traded any SLJB shares since becoming the conduit for all of this insider company information.
JMHO!
From the OSC;
"14. The representations made in the press releases described above are untrue. Neither KPMG nor PWC have or have had any involvement with Sulja Bros. Furthermore, the contracts in the Middle East referred to in the press release dated September 5, 2006 do not exist.
That answers your question #1 that there were never any AF's. Every PR about them was a lie. Do you think that the OSC didn't completely verify the facts in their complaint before going public with them? Every statement about AF's prior to and through 11-16 are flat out lies. That is the opinion of the OSC and JMHO as well!
Interesting last Airys post! I think he got another text message from Petar!
Posted by: Airys418
In reply to: msskinny who wrote msg# 231447 Date:12/30/2006 8:41:50 PM
Post #of 231576
By everyone
Yes it is. Read through the entire complaint. There is no doubt to me that some insider has flipped and provided the OSC with information. They don't get to this point with that much detail if they aren't sure. JMHO! You should make sure to read the whole OSC complaint. Sorry on the 5 day post, when I saw your post reaction I remembered your earlier post and went back and looked and saw your post on Monday.
I would never not visit your computer for 5 days again!
As always you are one of the most intelligent posters here. You have been consistently giving excellent legal guidance to the people here. I assure you your guidance is appreciated by the group we have assembled to deliver a different form of justice to all involved. I no longer have to worry about burning anyone who is still holding because the OSC has filled in some of the final pieces of the puzzle and if they want to hold their shares with that coming than I can no longer worry about them! THANK YOU FOR ALL YOU HAVE PROVIDED! OUR GROUP APPRECIATES IT!!!!!
I hope you have a very happy new year!
Binzur
Jannie, what about the money from the sale of all of the "restricted shares", that is even bigger than the $12M! That had to have been funneled through the canadian brokers as well. Also all of the insider shares were sold! Lots of shares and lots of money! But then they took some of the 12 million and gave it to the Suljas for their goodwill or shares or whatever. So if I understand this the Suljas gave up their company in the reverse merger and never got any of the insider shares? Wow what a deal! Hope your health is doing well.
CEO Steve Sulja stated: "The current outstanding shares are 500 million. There are 362 million shares held by insiders. Of the 362 million insider shares, 162 million are restricted. There are 138 million shares in the public float. The number of inside owners, of 10% of common class shares, decreased after the reverse merger. The increase of outstanding shares from 200 million to 500 million excluded holders of 20 to 50 million shares from insider status. Basically, three insiders with 40 million shares from the open market did not meet the 10% of class rule; therefore, they are no longer considered insiders."
Soon, shortly, he is on his way to the office to post it to his messenger shortly I think, soon!
realest; I have been told that the Memphis hotel does very well and one other tidbit. Apparently there is a hotel very close to ours that just sold for 4.5M. It has less rooms and no restaurant. You are from that area could you check into it. I believe we got that hotel for less than 2M so our equity in that hotel has gone up by 3M. That is a good thing! I understand we are 51% owner but that is still close to double equity compared to our present market cap!
The country club is an interesting option. Last I heard they were considering a gated housing community. Eelfland had reported there was a gated community in the near area that the lots sold out very fast. We may be better off developing the land, selling the lots for a profit and own the CC free and clear. With the new housing in the area on the golf course I would hope those people may want to become members. I think they will go semi-private and still have golfers paying greens fees as well.
The problem with the restaurants is IBAC does not own the land or the buildings. As Ed said we got tables and chairs. The restaurants generate approx 15% profit. It is prime season in Florida and IBAC is selling at a prime time. Ed wants assets, land etc. and that is why I believe he is spinning off the restaurants etc.
Now the spin off. I have concerns here as to me the devil is in the details. I believe the spin off will yield money and shares in the company buying the restaurants. I have no information here but reading the PR I believe IBAC will keep most if not all of the money and will give the shares in the other company to the shareholders. They will use the money to renovate the CC clubhouse and also improve the property for houses. The interesting part is no officers or board members are going to get any of the shares per the pr. Say it is half cash and half shares. That would be approx 2.25 million dollars and the same in share value of the other company. The share value would be .01 per share of IBAC stock. 225M shares divided into $2,250,000. So it then depends on what the shares of the other company are trading at. Have no idea what that is but if the shares in that company are trading at .01 then we would get one share of that company for every share we own. I have been told that the other company is a pink sheet company. The value to shareholders is worth .01 per share in that example. That is 4x what we are presently trading at.
Now for the reverse merger with the assets. Country club and hotels generate revenues and have a positive balance sheet value. We would have solid assets and they should be trading at least at this level. Again we would own the CC free and clear, 1.5+ million equity in Memphis and some equity in Royal Ark. Also have the equity in the CC. Then it is on to the next deal and the one after that. Building a solid company with true dirt assets. Don't know what that will trade at but it will be fully reporting OTCBB and that helps. They will have to post AF and quarterly reports and that helps.
That is why I have bought a bunch down in this area. When I say a bunch I mean a BUNCH!
Sorry it is so long but you asked!
Hoping for a prosperous '07 for all!
Binzur
Thank you DoDahMan. Board I have asked DDM to do the daily trades for IBCX. I really appreciate you doing this as it gives a clearer view of the trading for the day than charts (at least to me)! It takes some time I am sure and I know we all appreciate the effort! Happy New Year and let's get this stock rocking in '07!
Binzur
Yikes to many 0's!! Held at .002! LOL!
The bank that held the note on the CC is a bank that IBAC has a relationship with. This could still get done. Ed wanted it closed in 2006 and he didn't care if it took until 11:59 on December 31 to get it done. pop you are gone all week and the price goes down and you come back and put some green on the board. Glad your back!
That is one saving grace. I know Ed had mentioned to me that was their intention.
You are correct. Electronic filing to SOS of Nevada and this can be 2 billion A/S in less than a day. To be fair to Airys they will keep those 75 M restricted and just print some new unrestricted ones! Total meaningless effort!
Everyone is forgetting one small item when they are talking about the great SLJB future. That is a civil lawsuit against the company for illegal selling of shares. You have been totally correct in your posts of the illegal sales of shares. How does that factor into the pps moving forward!
They will also be going after Becker's 49% ownership in the Royal Arkansas to recover what they are out. So not the best situation but they do have a way to recover the money and gain additional ownership.
Every day you bash this stock. Did you buy it first because it ran and then started doing DD. If you are down 90% as you stated then you haven't made any attempt to either get out or average down. Now you will need the stock to go back up to .01+ to break even. All the while you bash the stock you own and anyone that comes here sees your posts and moves on to another stock that has more broken promises and no assets! Sell, take your tax loss and move on! I will buy what you sell at this level. I am down but my break even has been lowered by making some smart trades and buying at this level. If more sell today and take a tax loss then I will buy some more here as well.
GLTY
Binzur
Nice posts realest.
Agree! LOL!
We lose if we get to that!
Who knows. Saw the price drop and get out and take the tax loss for '06. Had they known the price would drop I am sure they would have sold yesterday. I am sure by now most of the 70 million dividend shares have been sold into the market.
If someone has decided to sell at the end of '06 they want to get as much as they can for the shares. Price went up yesterday so they decided to hold and see if it goes higher. Price dropped and out they go! They have til the end of trading tomorrow if they live in the US to sell the shares and take the loss for '06.
No news of a shareholder meeting, was never discussed. I have not sold any shares since my conversations with him. I will say I am not happy with the trading again today. Ed flat out twice has told me they are not diluting. I know he has told this to other posters here as well. Something is going on when each day in the last hour large blocks are moving. Do I know what.....no!
Binzur
I have spoken to Ed twice in the last week. I know of at least 10 other people here who have also spoken to him.
He did not tell me the gag would be lifted on Tuesday. I stated I would try to get it lifted. Why don't you share with this board the information you were hinting about earlier?
Keep it clean, on topic, no personal attacks and follow the rules like you were doing for a bit and you can post here. Swear, attack people, post off topic items and you can't. Read your terms of usage rules again!
Binzur
Thank you wallymac. I happened to have read that post or saw it reposted.
Binzur
RDG; I agree many of your points. I think harrass may be a little strong. I had been told by Ed that the T/A told him that they were going to refer all calls to the company because of the significant number of calls they were receiving. So when everyone here says the company gags the T/A it is not always the case! That is why I suggested that 5 members of this board only call when the gag is lifted. That still won't do any good because there are those people who will still have to call anyway! To get the scoop for themselves.
Liable; I have spoken to Ed twice in the last 5 days. I do not believe for one second you called and left 30 messages as you have stated here. I know of at least 12 posters who have talked to the CEO of this company within the last two weeks. I know of others who got called back by Ed and missed the call. Today you started the pro shop issue by stating you called and the club was closed. "It appears as though the golf course is no longer operating". That again was a false statement and caused many others to call the pro shop and find out that in fact the club was open for business. Let's try a little harder to get things correct in the future!
Happy Holidays!
Binzur
Out til this afternoon. Play nice!
Binzur
I have thought the same things. Don't expect anything this week. I believe there will be a roll out of many things starting next week. This is slow holiday trading and there is no reason to waste the bullets they have, i.e. lift gag, release AF. I will be buying more here. If you read the spin off information it was to happen within 30 days. Not sure they took into consideration holidays but if that is the case that will happen second or third week in January. Still know they want the CC closed this week.
Happy Holidays
Binzur
Thanks Angel! Nice work.
That is going to take people not selling and people buying! I agree with you.
You are missing that they also sold all of the restricted shares during that time as well! So not just 12 million try another 162 million shares or over $19,000,000.00 at .12 plus they sold all of the insider shares! All without any public notification in the forms of either a 144 filing or 504 filing for the company or the insiders to sell that many shares! They have 500K in the companies bank but much much more in other banks!
"CEO Steve Sulja stated: "The current outstanding shares are 500 million. There are 362 million shares held by insiders. Of the 362 million insider shares, 162 million are restricted. There are 138 million shares in the public float. The number of inside owners, of 10% of common class shares, decreased after the reverse merger. The increase of outstanding shares from 200 million to 500 million excluded holders of 20 to 50 million shares from insider status. Basically, three insiders with 40 million shares from the open market did not meet the 10% of class rule; therefore, they are no longer considered insiders."
In the US you can sell on Friday. It is the sale date that counts in the US! Read it earlier today in a publication. I will look for it to post again. Very sure on the US side but not clear on Canadian trading rules! Hope this helps.
Binzur
These are very good recommendations hank hill. I believe we will get rocking next week!
Liable. Ed told me the O/S were under 350M.
If I may, don't get so wrapped up in every tick every day. There are so many things going to happen in the next few weeks.
Happy Holidays!
Binzur