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Friday, November 24, 2006 6:59:58 PM
IBCX ~ NEWS ~ CHARTS
IBAC Corporation Reports Record October Revenues
November 24, 2006 - 6:39 pm est
IBAC Corporation (Pink Sheets: IBCX) a Hospitality Holding Company today reported record revenues for the month of October ($842,842.53) these revenue figures are based upon internal records and are subject to verification by the company's independent accountants and auditors.
The company projects annual revenue of $10,500,000 to $11,500,000 for the calendar year of 2006, which will represent a significant increase over last year and the best year in the company's two year history.
The company expects a significant increase in revenues for the forth quarter as the company's restaurants in the Florida, are entering the winter (high business) season, the busiest time of the year for those operations, due to the influx of winter tourism.
The company's Hotel division has realized significant revenue growth over the same period last year, due to increased traffic and ongoing and completed improvements to the properties.
Mr. Burmaster stated, "The Company has under gone some significant changes over the past several months, with that being said we project our best year revenue wise and profit wise in the company's history and we look forward to generating additional revenue (with certain pending acquisitions/revenues to be added by years end) based on these positive results we are extremely excited about our company moving forward into 2007 and beyond."
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hotel, Food Service & Restaurant industries. IBAC now has operations in Florida, Tennessee & Arkansas.
For more information, please visit:
http://www.ibaccorp.com.
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations@ibaccorp.com
http://www.ibaccorp.com
.............
IBAC Corporation Reports Record October Revenues
November 24, 2006 - 6:39 pm est
IBAC Corporation (Pink Sheets: IBCX) a Hospitality Holding Company today reported record revenues for the month of October ($842,842.53) these revenue figures are based upon internal records and are subject to verification by the company's independent accountants and auditors.
The company projects annual revenue of $10,500,000 to $11,500,000 for the calendar year of 2006, which will represent a significant increase over last year and the best year in the company's two year history.
The company expects a significant increase in revenues for the forth quarter as the company's restaurants in the Florida, are entering the winter (high business) season, the busiest time of the year for those operations, due to the influx of winter tourism.
The company's Hotel division has realized significant revenue growth over the same period last year, due to increased traffic and ongoing and completed improvements to the properties.
Mr. Burmaster stated, "The Company has under gone some significant changes over the past several months, with that being said we project our best year revenue wise and profit wise in the company's history and we look forward to generating additional revenue (with certain pending acquisitions/revenues to be added by years end) based on these positive results we are extremely excited about our company moving forward into 2007 and beyond."
IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Hotel, Food Service & Restaurant industries. IBAC now has operations in Florida, Tennessee & Arkansas.
For more information, please visit:
http://www.ibaccorp.com.
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations@ibaccorp.com
http://www.ibaccorp.com
.............
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