IAHL Corporation (IAHL)

[jean1057]

ere is an old article about the Sanibel group..read it and wonder?? at that time they had 1 restaurant..what was the mentioned revenue?? where it it now?? just wondering aloud.oh and read the 2nd last sentence about auditing..LOL ..again look at the date of the news release....IBAC Corporation Receives an Unsolicited Offer for the Sanibel Restaurant Group, Inc
Business Wire, Jan 10, 2005
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FT MEYERS, Fla. -- The Sanibel Restaurant Group, Inc. a subsidiary of IBAC Corporation (PINK SHEETS:ICAN), announced today that it has received an unsolicited offer for The Sanibel Restaurant Group, Inc.

"This offer by a fully reporting public company is unsolicited and only reinforces our belief that we are undervalued as a company" said Karl Wenzel, president of The Sanibel Restaurant Group, Inc.

The company will review the offer and determine if it is in the best interest of the company and its shareholders, The Sanibel Restaurant Group, Inc. upon completion of its contracted obligations will have 135 employees and revenue of 7.5M per year.

Through its operating companies, IBAC Corporation owns/operates and manages restaurants & food and beverage service contracts; the company intends to become a fully reporting company by the end of the second quarter of 2005 with a balance sheet directed towards the nasdaq small cap.

The company is currently negotiating other acquisitions and expect to have completed contracts very shortly. It is the intent of the company to increase its Sanibel brand throughout Florida.