Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I've bought tons of shares at .0001, so i'm up now :).
Hang tight, i think in the end, a nickel is going to be cheap. If we are lucky, we may see .25 or better
That is a tough question.
I know they paid 1.8M for the hotel in memphis, it has sold previously at nearly 5M.
The hotel in Pine Bluff, i am uncertain what they bought it for, i've had tough times tracking down that figure, however, i think the tax assessor has it pegged around 2M for taxes, so it should be able to sell for 4-8M itself. I know it was bought in distressed state, and i'm betting they paid about 1-2 for it as well. PB dwarfs the memphis property, it has monumental possibilities.
They seem to average currently around 350K per month in revenue.
So, kinda guess for yourself.
In my discussions with them, the timeline they have had for full operations is 3 years. My research and DD started some 9 months to a year ago. So far, they have attained everything they said they'd do. I never was told a R/S was a possibility though. But, we sit, we wait.
In light of what i know, the R/S although it hurts my feelings, may be a very good thing for them. What do i care, just make me some cash Hayter!.
and where do you find this??
I hope they know this really tisses me off...... This will be the first R/S i haven't bailed on.
you are correct in this as well.
I stand corrected on the Outstanding issue. I had to grab my trusty calculator. you are correct in that they say the outstanding will be reduced to 150M which equals the full 12B.
Well, the information i had to date say's 10B, they did reduce the A/S from XX to 12. I can't remember what it was prior to the reduction, 20 i think.
But despite everything, i think they are trying to make this a more professional operation. Time will tell. I feel comfortable with them.
So, if the outstanding is indeed 150M, then i owe you an apology. Touche you got me.
you really are dense aren't you.
safe harbor statements are used on every pr. Even NYSE securities have safeharbor statements.
The O/S was not reported as 12B but 10B, granted 10 is still significant.
The suggestion that they diluted in order to buy back shares is of your own opionion, and you have no proof thereof. Also, it's a preposterous idea. If this was done with dishonest intent, they would never buy back anyway.
You are correct in the assertion of further dilution possibilities by IBAC. I did note that although the A/S was reduced it wasn't reduced far enough. However, i know that the company needs the funding for expansion. So, if they do this and those shares are used in proper ways, we'll not suffer. (I have a certain confidence of this)
It's stated that Mr. Hayter owns the majority of shares. We also don't know if there are preferred shares with controlling interest. We can find out when financials are made available to us though.
You really try my friend, but i do wish you could make a better argument.
There is a PR announcing the completion of the buyback. It's also to soon to naysay the move to the OTCBB. But the R/S, i don't recall him saying it wouldn't happen, but it somewhat disappoints me.
Some of those are mine :)
I'll keep adding at .0001, i believe i'll still be able to get out in the short run if this proves to be BS. But i have to say, i'm not happy about a R/S but the share structure for the OTCBB will be greatly received by new buyers.
I agree this has some semblence of an upside, i've been one of their greatest supporters. However, a R/S. That kicks me in the teeth, it may be necessary i don't know. I've lots of thinking and number crunching to do.
why do you think sooner? just curious.
unless we get news we can use, i'd not look for this to move yet. I could be wrong though.
http://news.teamsters-canada.org/news.php?id=419
go to this link, i am betting he's a canadian somehow connected or known by Mr. Becker. Mr. Becker is from Saskatchawan, Canada. He was involved with alot of things up there, including a hotel he built up to a 4 or 5 star service (that is what they say about the hotel, i've not seen it myself.)
Does lvl 2 show how many people are making markets for this? If so, what's it looking like? If you would please.
I've done extensive DD on these fellas. I don't know alot of personal history as yet on Mr. Hayter. Everything i have looked at though shows me he's no crook. I've not found any litigation on him or against any company he's run, etc. He helped found a few businesses i believe.
As to him being "clueless" in pinkies, i'm uncertain if i can agree or not. I tend not to, he's not struck me as someone trying to do it himself. He's hired alot of high priced folks to get this going. Don't forget, at one time he was opting to take the company private buying us out, but found out how costly that would be. I think he may have been hasty in buying a shell company to put his holdings into. It may have been better for him to struggle to get this going then take it to financiers and take it public. I don't know.
Mr. Becker told me that Mr. Hayter wants to finance this venture via the markets. I don't think Hayter wants to carry the load alone. I've also been told, not to expect an overnight boom, they don't think this is going to go from .0001 to 1.00. I think this could well be a shell to buy and hold for a few years. When it comes to sub penny stocks such as this, it's the only one i've been able to go and stay a weekend in something i've invested in.
If i have to gamble on something, i'd rather gamble on this.
I personally am looking for something i can get in on the bottom of and hopefully carry me to a super sized profit. The majority of my shares have fortunately been picked up at .0001.
I don't know, it would be nice, but i have many buys out yet..... so not till they fill please :)
Yes i have, as a matter of fact. If you know where to go you can find out all kind of that information. You can go to the county property assessors website and see sales data, tax data, etc. If you know where to go, you can even check and see if they have paid their taxes.
My wife and I deal in real estate, this is one aspect i'm well versed in.
good luck to you.
Forms 3, 4 and 5
Every director, officer or owner of more than ten percent of a class of equity securities registered under Section 12 of the '34 Act must file with the Commission a statement of ownership regarding such security. The initial filing is on Form 3 and changes are reported on Form 4. The Annual Statement of beneficial ownership of securities is on Form 5. The forms contain information on the reporting person's relationship to the company and on purchases and sales of such equity securities.
I doubt he own's more than 10% in any personal portfolio he may maintain. At let's say just an average buy of .00015 that would be 150,000 for 1 B shares. 10% of the O/S current.
But let's say he owns 75K worth and knows he can cash it out once filed and make himself a little something extra, why wouldn't he.
True, i don't know if any of these forms are currently filed, etc. I haven't looked, but i'm going to now.
I'm not expecting to make millions off this, however, if it so much as hits anywhere near .002 i'll be one heck of a happy camper.
I'm not in love with ICAN. It's simply a high risk investment.
What i am making isn't a simple assumption. And what "HYPE?" The company hasn't done squat as i see it to hype it's security. Matter of factly i'm about the only one that says anything at all.
And what is your kick with ability to sell??? You must be lost in a fog. Haven't you seen the trades going through? I saw a few .0002s today (most of the trades today were .0002). I've got buys out for .0001 and they've not filled yet. I'm not in the market to sell these at the moment. But someone has definately been selling and buying.
I don't ask you believe anything. I do ask you to go look for yourself though. This real estate.... the hotels.... they are real, and most importantly, they own them. The memphis property is worth aproximately 4.5 Million. They paid 1.6 or so, that is roughly 2.9 Million in equity.
You sir are just an IBAC hater. hahaha, and good luck to you.
A few other notes about conversations with the company. Never was i told that i should buy this becuase it was going to fly high, the timeline they had in mind was some 3-4 years to solidify themselves. They seem to have a solid business plan with what is so far a proven track record of accomplishing the tasks they say they are trying to achieve.
Nobody can say for certain that this will continue or that they will succeed. But what i have seen i have been fairly impressed by. My opionions only.
See message 1801 or company website. As soon as i get the 05 annual report, i'll have a more honest figure. But, i'm of the opionion it's some 10 Billion.
Supposedly Hayter has been buying for his personal portfolio as well.
And FYI, Hayter isn't the one specing the hotels they are buying. That falls under Mr. Becker, he's the one picking those buys (as i understand things). I met Mr. Becker here in memphis by dropping by the hotel a few times while they were trying to work with Dennys to take the resteraunt.
Mr. Hayter is the financial arm of the arrangements.
where did you get this short list?
Actually it's something to worry about. I'll be some kinda mad if they do that. It can be a good thing if used properly. But generally crooks do that, especially in pink land. Then they start increasing the A/S and do it all over again. Sigh, he'd better not.
Yes, i hope so, i'm contacting the DE Corporate commision. It's going to cost me 20 bucks, but i'm going to see if i can get my hands on the 2005 annual report and anything else they have. I'll let you know what i find out, if anything.
clueless? hardly. Aren't you late for work or something? Go make some cheese fries, and don't burn them this time.
I have found one thing that really makes me scratch my head. The tally of shares that have traded hands in the last year is around 32 Billion. That is 3x the outstanding, or so we're told. So according to this, every O/S share has traded hands at least 2 times.
Possible i suppose, it was at a high of .001 at the start of the year. I assume such a drastic drop in PPS could shake alot of folks out.
Hmmm, wish i had not added that up, lol.
I've wondered the same thing. It's possible the company may go into a quiet period in order to move to the otcbb. I'm uncertain. But i would like to know. They have alway's put that information out.
I agree with your analysis. If they really get cleaned up, this could be huge for anyone buying at .0001.
I don't think it's BS, with the A/S reduced to 12B shares, if he dumps them on the market at .0001 that is only 200K. That is a pathetic amount to try and finance hotel operations with.
I think he'll do what he say's he's trying to do. I've a feeling if the ship goes down, he'll be going with us.
That is the spirit, i certainly hope so. Come on and hit a quarter.
Well, i certainly hope so.
AUDITORS
Bagell, Josephs & Company, L.L.C.
Gibbsboro , New Jersey
TRADING SYMBOL
ICAN.PK
TOTAL AUTHORIZED SHARES AS OF 9/30/05 12,200,000,000
ISSUED AND OUTSTANDING SHARES AS OF 9/30/05 10,793,385,517
Taken straight from the website.
I think BJC is a fair sized firm.... I think anyway. I hope anyway LOL.
Supposedly, he has finished the buyback. However, he did state that he would continue to add to his portfolio.
I have noticed the .0001 trades, and a few of them are mine. I have added significantly from my initial holdings. I have to admit, i'm a little confused by the constant .0001, i'm hoping he's keeping his word and not diluting. I have a certain faith that he's trying to get this moved to the OTCBB.
Mrktmaker? Were you are are you a marketmaker? Or just a screenname? Just curious.
Your funny, not being able to sell is called revoked. You can sell it, and you know it. I'm baffled by the super low .0001 that is occuring though. I've not seen anyone that can't sell, and who would sell at this rediculous level. If i was looking at a loss, i'd let it go till she dies or moves. The worse case scenario is that you have a tax write off. I'm not on the selling end of this at the moment anyway. I'm looking to acquire at these levels. I'll be dumping aprox 20% of my holdings should this spike to .0004 as that will provide me with a breakeven, and let the rest ride to see where she goes for a bit. So long as it never gets revoked, i'm fairly certain i can get my .0001 back, or close enough.
Anything trading at this level has an extreme element of risk to it. We all know that, or should. Never invest in a pink unless you view it the same as you would a lottery ticket, albeit a higher priced one. Best wishes folks.
Also, the post about the outstanding shares, to my knowledge that's correct. I hope i'm not wrong. They've not said they were putting them out in the market. But I've been dealt that blow by other investments and thought they were doing right too. I can only hope.
Hey folks, i hope everyone is having a great day.
To start, IBAC owns 51% of southern hospitality, i'm not certain what the arrangements are financially etc. But that's what Mr. Becker told me.
As to selling, i've not tried to sell at all. I have reviewed the L2 data as best i can at www.freerealtime.com and it's somewhat concerning to me that i see many .0001 and few .0002 But the MM's trade on 5 decimals. So what many folks are seeing may be .0002 buys on their accounts and .0001 sells while the MM's take the slop thats left over (at least that's my opionion of the data i'm seeing.)
I have had some 10 Million shares filled at .0001 using MyTradz.com. You can open an account with them for $200. They seem to be more likely to fill at .0001 than other folks i know of and talk to, in talking with MyTradz they have disclosed to me that they do not have contracts with MM's forcing business through them, Ameritrade or others for example may have to use Nite if they (nite) deal in that security and have a contract with them. The downside to this with MyTradz is that we pay an additional fee for all pinks, i think he said the major exchanges have set fees or something like that.
As to whether ICAN is being manipulated, it's entirely possible, and something that nags at me. It would nag worse had i not gone and seen and stayed in the hotels. I don't understand why this is trading at such pathetic levels. I have to be honest also that i've been scared of a dilution machine, but i've not found any evidence of it as yet. If anyone knows of any SEC form 4 or 5 filings, please point me to them because i've been as on top of this as i can.
I'm trying to save up my posts, lol, take care all.
Well thank you for your concern over my well being, but it's not neccessary. The comment about my retirement was a joke.
What is the comment about buisness having to do with OTC or pinks?? And calling me unintelligent, just plain not nice. You know nothing of me, nor i you.
The relevance of moving from the pinks to the BB is that i believe it will significantly bolster the pps of ICAN. They do have Real Estate which is within their umbrella of operations. The Appraised Value of these 2 establishments once fully operational will possibly be in the 20-30 Million dollar range, i know for a fact that they should have aproximately 4-6 million in equity in the Days Inn. I have no Idea the amount they may have in the Royal Ark, but it too should be substantial. This company should have real value to it. The've not done any work to the memphis property of yet, so i'm assuming they are waiting to move to the OTCBB then selling off some of those shares he's bought back in order to pay for the limited repairs needed.
I've read all your previous posts on this, you don't seem very interested in them, matter of factly you just seem to bash at them. Why? If you have travelled and seen their operations, i think you'd at least take a "wait and see" attitude.
Now, be nice. And nice to meet you.
Not all 12 Billion are Issued to my knowledge. Mr. Hayter supposedly has completed his 500,000 dollar buyback of shares. The last published outstanding i have on record was around 10 Billion. With the 500K buyback, that should have been aprox 2.5 Billion shares at .0002. I'm guessing that the float should be some 8 Billion assuming he's not reselling (which i doubt). I know they have serious intentions to expand their operation to 1000 beds/rooms by the year end i think. To do that they do need the capital. But it's going to have to be capital that is worth something. He has to turn the 500K into real $$ by my estimation.
Furthermore, he's supposedly holding shares prior to the buyback. So, i don't know what to think. But i know they have 2 hotels, buying a 3rd, resteraunts, mortgage thing.... They have real opportunity to make this look nice. They better becuase my retirement is hoping on it, hahaha.
I've done massive amounts of DD on these folks. I've interviewed Gary Becker, have visted the memphis property and the Royal Arkansas hotel. Other than Hayter i've had some meeting with most aspects of this company. I have faith they will get it moved to the OTCBB. As far as AMEX or better, just because you have 12 Billion shares on the market doesn't mean it can't be done, but i have to agree that most shells never make it that far.
Gary Becker does not own any shares of IBAC, he owns 49% of the Southern Hospitality Group. Hayter is/was floating the bill for him to help him establish himself. As i understood it, Hayter is the bigger Money man in the venture. The interesting thing i found in the PR's is that they have or are going to buy a mortgage company that specializes in hotel loans. Hayter made most of his money in Real Estate and Mortgages. I'm adding to my holdings as my budget allows.
If you have questions, i can possibly help. Unfortunately the limited posting will be a nuisance.