IAHL Corporation (IAHL)

[johncee]

IBAC – Press releases since 10/13/06

NEW YORK, Oct 13, 2006 (BUSINESS WIRE) -- IBAC Corporation (PINK SHEETS: IBCX) today reported revenues for the third quarter of $2,942,842.53 these revenue figures are based upon internal records and are subject to verification by the company's independent accountants and auditors.
The company will be publishing a pre audit Financial Statement by the months end on the company's website, with audited financials to follow soon after.
The company expects to have revenue of $9,500,000 to $10,000,000 for the calendar year of 2006.
The company expects a significant increase in revenues for the forth quarter as the company's restaurants in the Florida market will be entering the winter season the busiest time of the year for those operations.

NEW YORK, Oct 17, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pinksheets: IBCX) today announced that it is holding negotiations to acquire a full 18 hole golf course and country club.
The property's golf course was designed by the world renowned Alfred H. Taft and includes tennis courts, pool, banquet space, restaurant, bar, pro shop with a resident pro. The property encompasses approximately 200 prime acres.
The company intends to incorporate/build a number of high end single family homes and condos on the property abutting the golf course, thus creating additional profits from the acquisition while defraying the acquisition cost.

NEW YORK, Oct 19, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pinksheets: IBCX) announced today that it has formed RCC Management Company as a 100% wholly owned subsidiary of IBAC Corporation for the purpose of acquiring the country club & golf course.
The company has successfully negotiated the purchase price of the property and has received contracts for the acquisition, the contracts are currently under review by the company's attorneys and we expect to sign/execute said contracts by weeks end.

NEW YORK, Oct 23, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:IBCX) today announced that it has released the company's Financial Statements on their website, they may be viewed at http://ibaccorp.com/IBACCOMPLETEFINANCIALSSEPT.pdf.

Finally the company would like to report that it is the process of building a new corporate website that will be much more informative and user friendly and that it should be completed within the next 30 days.

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.

NEW YORK, Nov 01, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pinksheets: IBCX) today announced that it has entered into a sponsorship/alignment with the new Arkansas Rivercatz (http://www.rivercatz.com) of the American Basketball Association (ABA) (http://abalive.com) team in Pine Bluff, Arkansas.
The Royal Arkansas Hotel & Suites, Inc., a majority owned subsidiary of IBAC Corporation, will be the official hotel of the Arkansas Rivercatz. The team will play all its home games at the adjoining Pine Bluff Convention Centers Arena (http://www.pinebluffonline.com/conv/arena.html). The company will also handle all concession sales through its contract with the Pine Bluff Convention Center, as contracted exclusively with IBAC Corporation's National Hospitality Management Services Unit.
NEW YORK, Nov 02, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pinksheets: IBCX) today announced that it has entered into negotiations to acquire its restaurant operations, the proposed acquisition if accepted, would be to another publicly traded company and include a share distribution (payout) to the IBAC shareholders.
The requested acquisition of IBAC assets are the Florida restaurants in Ft. Myers and Bonita Springs, the company even though they consider both these assets as major holdings has agreed to consider the sale if a positive profit is recognized by the company and its shareholders.

NEW YORK, Nov 08, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pinksheets: IBCX) announced today that Gerry Becker the company's President & General Manager of the Royal Arkansas Hotel & Suites, Inc. was relieved of his duties with the company in August for cause and actions detrimental to the company's well being.

NEW YORK, Nov 13, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pinksheets:IBCX), a hospitality holding company, today announced that the Board of Directors has approved a 25% stock dividend to all common shareholders of record December 1, 2006, and payable December 15, 2006. The action was approved at a board meeting on November 10, 2006, with the effect of adding 25% more shares of IBCX. Edward W Hayter, Chairman & CEO, stated: "The dividend reflects the on-going success of the Company and rewards shareholders for their continued support. We are proud to present our shareholders with this third stock dividend by the Company in its brief two and a half year history."
The Company has previously announced the pending acquisition of a golf & country club property, this transaction is expected to be approved by the selling entity at a special Board of their Directors meeting on November 14, 2006, at that point and time all pertinent information regarding the property and transaction will be released.
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.
In the past year the company has bought out its minority partner in the Sanibel Restaurant Group and has acquired The Sanibel Steak House in Bonita Springs both properties are now owned by IBAC Corporation 100%, The Company has removed its minority managing partner in the hotels and will attempt to gain the 100% ownership of those properties as well (IBAC Corporation is the majority partner (51%) in the hotels and the sole investor in them).
Wayne Burmaster, president and chief operating officer, stated that "the growth in all performance areas in 2006 was due to the continued success of our business development efforts in and around the marketplaces we serve. We are pleased with the continued, quality growth and increased earnings of the Company, and remain committed in our efforts to build a quality hospitality organization and increasing shareholder wealth."

NEW YORK, Nov 21, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pinksheets:IBCX) announced today that it has a final draft of its audited financial statements and after review will release them to the public.
"The company and the shareholders have waited a long time for this moment and we are now very excited that now we will be able to become a fully reporting company and file to move up to the OTCBB." Said Wayne Burmaster President

NEW YORK, Nov 22, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pinksheets:IBCX) announced today that its Board of Directors has approved an immediate reduction of its Authorized shares from 500 Million to 350 Million.
The company had previously increased its authorized shares to 500 Million in anticipation of certain pending acquisitions that may have required issuance of stock, after the negotiations of these acquisitions the stock will not be required as the acquisitions will be funded from cash flow.
The reduction in authorized shares is in line and includes considerations of the 25% stock dividend, payable to shareholders of record on December 1, 2006, the share dividend will be paid with non restricted (free trading) stock.
NEW YORK, Nov 22, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pinksheets:IBCX) a Hospitality Holding Company responds to shareholders regarding today's announced share reduction and the impact on the previously announced dividend.
The 25% free trading share dividend will be given to shareholders of record on December 1, 2006 and paid December 15, 2006. The reduction of authorized shares from 500 Million to 350 Million shares factors in the payment of the dividend.

NEW YORK, Nov 28, 2006 (BUSINESS WIRE) -- 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.

NEW YORK, Nov 30, 2006 (BUSINESS WIRE) -- IBAC Corporation (PINK SHEETS: IBCX) a Hospitality/Resort Holding Company reported that tonight the Board of Rosswood Country Club in Pine Bluff, Arkansas unanimously agreed to sell the historic property to IBAC Corporation. The Property will be a 100% owned subsidiary of IBAC Corporation
The country club & golf course a 72 par/6,908 yards was commissioned by International Paper and built and designed by the world renowned golf course designer Alfred H. Tull and opened in 1961, and includes tennis courts, pool, banquet space, restaurant, bar, pro shop with a resident pro. The property encompasses approximately 200 prime acres. For further information visit: http://www.southcentralgolf.com/Pages/Templates/ ArkPrivDetail.php?recordID=Rosswood%20Country%20Club (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)
The company intents to utilize the country club as an added amenity to the hotel it owns The Royal Arkansas Hotel & Suites in Pine Bluff, Arkansas, The company also intends to incorporate/build a number of tasteful high end single family homes and/or condos on the property abutting the golf course while not compromising the courses history or design, thus creating additional profits from the acquisition while defraying the acquisition cost. The company also intends to maintain the current members of the board on an advisory basis; it is the intent of the company to increase membership back to the level that this property has once enjoyed, with the prestige and level of service equal to or beyond its history.
"We are very excited with the Rosswood Country Club Boards approval of this acquisition as it opens a whole new stream of revenue and adds another significant real estate owned property to our portfolio, the number of profit centers involved with this property are extremely exciting, membership fees, wedding receptions, liquor and food sales, catering etc. The company will never compromise the integrity of this world class property, it is only our intent to restore and enhance its position in history. We expect to close and take possession of the property by year's end." said Wayne Burmaster, President IBAC Corporation.
"We are totally committed to the city of Pine Bluff and the community and we will continue to invest in quality properties in Arkansas" added Wayne Burmaster President IBAC Corporation

NEW YORK, Dec 01, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pinksheets:IBCX), a Hospitality Holding Company, today announced it will form a yet to be named construction & development division.
The wholly owned subsidiary/division will be charged with all building/development activities pertaining to the recently announced agreement to acquire the Rosswood Country Club. The company intends to build depending on zoning ordinances a combination of high end single family homes, condominiums and time share/vacation villas on the property.
The company based on its initial research has determined that the property could yield as many as 300 to 400 building lots; depending on architectural & engineering planning the exact building area will be determined.
The company intends to approach this project as a major master planned development with unit prices ranging from $250,000 to $500,000 with additional revenues being generated from time share/rental fees along with customary greens fees, banquets, bar and restaurant sales, etc.
"This is a historic world class property and the company indents to develop it as such without compromising the beauty, integrity that it enjoys. We look forward to getting started on this project as soon as possible," said Wayne Burmaster, President.

NEW YORK, Dec 04, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:IBCX), a Hospitality Holding Company, today announced it has entered into two significant sponsorship agreements for its Florida restaurants.
The first agreement for both of the company's Florida restaurants is with the Boston Red Sox; this will be the second year that the company has enjoyed participating in this program. Ft Myers, Florida is home to the Boston Red Sox spring training http://boston.redsox.mlb.com/NASApp/mlb/spring_training/ballpark.jsp? c_id=bos&year=2007 (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.), the sponsorship program will include two center field banners 8' X 16', two walkway marquee posters and a full page spread in the teams program guide. The Boston Red Sox spring training facility is sold out always and the company (IBCX) is very pleased to have that exposure.
The second agreement is with the Barbara B Mann Performing Arts Hall, the company has agreed to be the sponsor of the Chita Rivera "The Dancers Life" http://www.bbmannpah.com/performance.php?id=136 show, it will be a full week of exposure of a legendary performer at a world class facility, the company will receive full exposure at all of the performing arts hall events as a sponsor.
"The company as it grows is very appreciative of the opportunities and respect that the community has given, as these opportunities are not handed out easily, we are very happy that we as a company were considered for the opportunity's and are great full for the opportunity to participate and look forward to a most profitable season along with our sponsors'," said Mr. Wayne Burmaster, President of IBAC Corporation