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Its now just called - the board.
They are still there, what I'm wondering is where are all the buys from his group? Maybe they are trying to fake people out, promise big buys at open and when it does not happen people freak out and sell then they come in later and scoop cheaper shares up.
He has his own board.
From lookatme123 - Confrence call with Ed this morning.
wwe asked him about the A/F's..and the move to the OTCBB..also asked him about the future Revs/and Aquisitions for the companies..The spin-off was a good move ..to be approved monday..also he said they have a better and quicker way how to get otcbb..but he said he couldn't comment till press is announced..I feel we'll be on OTCBB by new yearcheers:)
I've never got through or an email returned, however Ed may have responded because it is group. We will see. Anyone have level 2
From Lookatme123
We had a 10 min Convo with Mr.Hayter today..Great stuff..He was real Busy answered all our questions...buying more at open..Cheers;)
I'll bet that's what they mean by fast track. Merge into an otcbb company.
The record date is dec 1, the company takes a snapshot of all owners of stock that day. If you bought on or before dec 1 and held your shares till next monday you will get the divy, if you sold your shares between dec 1 and today, the divy goes with the shares that you sold, if you bought between dec 1 and today you get the divy because they came along with the shares someon else sold. The divy goes with any shares sold between dec1 and today.
With today being the last day to get the 25% stock dividend and another dividend coming, I think we are going to fly today. Good luck.
A thought just crossed my mind about the otcbb listing. They are talking about fast track. Could it be that they are going to merge into an existing otcbb company or shell and that is what they mean by fast track. I believe they would still have to have their A/F but it would make the move faster than submitting the form 10.
Great board lookatme, a thought just crossed my mind about the otcbb listing. They are talking about fast track. Could it be that they are going to merge into an existing otcbb company or shell and that is what they mean by fast track. I believe they would still have to have their A/F but it would make the move faster than submitting the form 10.
Hello Hello !!!ooooooooooo I hear an echo.
Some of the posts today refer to the company just saying they are "going to consider doing something" and that they need to just come out and say what they are going to do. When you read the pr and look at the history of what they say they are going to do and what they actually do, it is clear to me that yesterday's press release stated the new direction for the company which is accumulation of real estate owned. How much more clearly could they have stated it. All companies will put words in like "considering" or "meeting to review" that is normal talk. IMO they will spin off the restaurant business and they will acquire more real estate and they will release audited financials and they will file form 10 and last but not least they will get uplisted to a higher otcbb exchange. With that being said have a great day, I think we close at .0085 to .009 and tomorrow will be even better.
I agree there are many pinks that trade 10 times this shareprice that do not have near the potential that this one has. Even at .02 this is a screaming buy.
It's just a hunch but IMO after the board meeting monday, sometime next week the company will lay out its agressive real estate acquisition plan. I guess they will anounce an agressive plan to acquire over 1 billion in real estate over the next 24 months.
Well finally they raise the bid to .0075, going up from here.
Big, get rid of the caps, you're screaming at us.
If the mm does not have an inventory, they just sell naked short shares, it happens all the time.
We may have some large buyers trying to get in at .007 to .0075 and the mm's are trying to bring it down to fill those orders. After that they will probably let it run.
Good luck with that it's their game. They will have to up the bid only when buying pressure is high, otherwise they play with it and try to shake the tree to get your shares cheap, and then they will raise the bid and sell them to someone else higher.
The mm's are really playing with this now, look at the spread .0065 x .0085.
Not to worry it's just the mm's playing games.
Yes you will receive your divi's tomorrow, but you probably won't see them in your account until the 18th, that is if you held since Dec 1st. I have read that if you bought after dec 1, then the divy won't show up in your account until the 20th.
The spin off of the restaurant business tells me that they have more real estate deals in the works. I am guessing that we will be informed of many more acquisitions very soon.
As I stated in previous posts I would like to see more acquisitions and that is what is going to increase shareholder value, the audited financials will only help us get on a higher exchange, but they will not be anything to write home about. I think everyone is to much stuck on audited financials as being the key, IMO they are not. It is the continued acquisition of distressed and mismanaged properties that will build shareholder value and it looks like we are on our way to a profitable year in real estate for the year 2007.
Looking over yesterday’s press release and trying to put the pieces together. This statement stands out to me.
(IBAC will concentrate on the Hotels and Country Club & Golf Course of which is all Real Estate owned properties with a home building division being put in place and will concentrate on additional acquisitions. IBAC will continue with its anticipated move to the OTCBB with a stronger asset base," said Wayne Burmaster, President IBAC.)
In the October 26th press release they stated that the board of directors has approved an aggressive business plan with a budget of 100 million.
NEW YORK, Oct 26, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pinksheets: IBCX) 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.
IMO restaurants are a labor intensive business and the type of business that takes a hands on management approach, some restaurants are a labor of love, meaning you have to love being in the business because it takes a long time to grow a successful restaurant or chain of restaurants. IMO IBCX management is doing the right thing by spinning this off to another entity, getting new management to run that division and concentrate on spending 100 million in real estate acquisitions. From what I have read about the company and its principals, they have a real estate backround, not a restaurant backround. So it is the best move for the company to concentrate on real estate acquisitions. With 100 million to spend, they could purchase 500 million in real estate with 20% down payment or 1 billion in real estate by leveraging with only 10% down payment.
The success of this company IMO is in purchasing distressed and mismanaged properties such as the golf course. With their new construction and development division they can accomplish this easily.
Lets look at the potential revenue from real estate. Income generating properties usually sell around 8 to 10 times gross revenue. So if we purchase 500m in real estate then we will be looking at generating 50 million in gross revenue, if we purchase 1 billion in real estate we are looking at 100 million in gross revenue. If these are distressed and mismanaged properties and the company can go in and increase the gross by 10 to 20 percent, most of that increase in revenue will show up in the bottom line net revenue figures. For example 100 million revenue with a property that gives a net of an 8% cap rate or $8m net after all expenses and you increase the revenue by 20% you now have 128 million gross. Now the value is 1,280 billion. Most importantly now your net revenue is 28 million rather than 8 million and your cap rate has gone from 8% to 28%. Sure there are expenses to accomplish this but you get the picture.
Another statement by the company in regards to focusing their efforts on real estate rather than restaurants:
The company had also previously announced a sale or transaction off of its restaurants in Florida, this proposed deal has not been completed at this time, if said deal is completed the shareholders would also receive an additional form of dividend when completed. This deal is under consideration as the Company is directing its efforts towards becoming a quality 100% real estate owned hospitality property Company.
.008 x .009 coming to a theater near you!
Lunch time is over, maybe news after lunch.
IBAC Corporation Prepares To File Form 10 in Anticipation of Move to the OTCBB
IBAC Corporation (Pinksheets:IBCX) a Hospitality Holding Company today after the bell announced, that it is in the process of preparing the required form 10, that is necessary for the company's request to trade on the OTCBB.
The company is working on a fast track basis, and expects to file the form 10 very soon, thus giving the company the ability to trade on the OTCBB.
.007x.0075 Huge jump in the bid.
.007 printed! Here we go!
Looking good so far, maybe lookatme123 is for real, I sure hope so!
Ask .007 bring it on!
Hold on to your skirts, shes ready to blow!
Well bring it on lookatme123 lets see those huge buys, bring us back up to .02 today.
Yeah it just does not make sense, why inform everyone in advance and have to pay a higher price. It is possible that a group could control the price and run the stock up, especially one like this with such a low float, we will see what happens in the next few days.
I don't want to spoil the party but if someone or group was going to buy 50 to 70m shares they would not be publishing it on a message board, they would be secretly accumulating shares at low prices. Don't get me wrong I will be more than happy to see this happen in the next few days. It just sounds fishy to me. Sometimes bashers pose as pumpers and when what they say does not happen, everyone is dissapointed. I think we will get a slow and steady increase in the pps between now and Friday and some news from the company next week, hopefully A/F, but not counting on it. Would just like to see progress and more deals in the works.
There is more to like about this company tnan there is not to like. IMO if it was not for several penny stock failures recently, we would be at .02 to .03 right now. With A/F and uplisting this stock will rock. Shareholders confidence is the key and it can turn on a second, I have seen it before. I don't even think we need A/F at this time, just another acquisition, another revenue generating investment and we are on our way to a higher pps and investor confidence. I really don't expect the A/F till January.
.007 is coming soon
I think you are correct except for the the share price adjustment on the open monday. I think the share price has already adjusted in anticipation of that date.