IAHL Corporation (IAHL)

[jean1057]

FWIW..came across this little PR from back in 05 when the company was quoted under ICAN.PK symbol..read and wonder about the prefered stock issuance to the CEO Hayter..are this preferred still valued?? I do think they are..LOL

March 9, 2005
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NEW YORK -- IBAC Corporation, (Pink Sheets:ICAN) announced today that it's CEO, Mr. Edward W Hayter, will retire 6,000,000,000 shares of his personal ICAN common stock in exchange for a class of preferred stock.

The Company's intent is to offer dividends to the common stock holders, which dividends will not be offered to the insider preferred shareholders. This measure is taking place to position the company for an eventual sale or merger of one or more of its subsidiaries to a fully reporting OTCBB company.

IBAC Corporations board of directors has agreed to retire the ICAN shares to the treasury. The 6,000,000,000 shares are ICAN common stock. Mr. Hayter will obtain a class of preferred stock with majority voting rights. The retirement of the stock will occur within the next month and is subject to all SEC and regulatory statues.

"This non-dilutive measure will bring an increased value to our shareholders," said Hayter. "Our long term plans include negotiating and putting contracts into place to ensure longevity for our company and, as this occurs, we will take steps to bring further value to our shareholders."