I want to thank a poster here who via pm provided another idea to get a message to Ed. Thank you. Nothing super secret but I appreciate the confidence the poster entrusted in me.
I got home this afternoon. Saw where the price was and made three block buys. Two went through as blocks and the third was broken into 3 parts. If you look at Micks recap in post 10908. 15:22.46, 15:27.51, 15:47.31, 15:50.12 and 15:50.19. I have stated here I will buy on any dips and I did. I had not had any contact with anyone until after the close today.
I was sitting at my desk and the phone rang. Looked at the caller ID, wasn't going to take the call answered it and it was ED! I almost fell out of my chair! We talked for almost an hour and I felt bad as they are quite busy with all that is going on.
I won't get into all the topics but had a very good conversation on a wide range of topics.
About IBAC!
1. I asked Ed to ungagg the T/A and he is working on that and will let me know when it is done. I assured him that a handful of posters would seek the information. I would ask realest, Angel, liable, Dspetry and myself be the ones to contact the T/A and report our findings back to all at this board. There is a nice cross section of posters in this group of 5 and I would think that all can trust what is provided! We don't need to bombard the T/A with calls! I hope that is fair!
2. I asked if in fact the AF's were done and the answer was yes through Q3. I then asked him directly why they haven't been posted. He told me that he really wanted the Country Club included as well as Q 4 before he was going to post. I suggested he pick a good time soon and post through Q3. He was open to that idea. I personally do not feel this week or next are the best times to post the AF's. Ungagg the TA and get the CC closed, reverse merger done! That is a lot with Christmas and a 4 day week next week. He wants the CC closed by 11:59pm December 31 and they are working to get that done.
3. I asked him why not form 10. His legal people and advisers told him form 10 can take months. You submit the form and the SEC has 30 day review. They can send back questions and get another 30 days to review and so on. They wanted to be OTCBB at the start of 2007 and they decided the more expensive reverse merger into a fully reporting OTCBB was the fastest and best route to go and that is what they have PR'd and what they are doing.
4. We discussed the Country Club. They are very excited about the potential here. I am as well. They are already working on the engineering for developing the non golf course land with homes. eelfland has provided very good local DD. His information has been very accurate and I want to thank him on behalf of all as I feel and have felt he has provided all here some quality and reliable DD!
5. Yes we discussed share structure! I asked him directly why A/S were not reduced as was stated in the PR. I was told that they should have been reduced per the PR in November. That filing has never showed up at SOS Delaware and he knows that and is working to find out what happened. Yes I did ask him why then the shares were raised to 2.02 B. Ed stated that he was advised by his lawyers that with the 506 filing there had to be enough A/S listed to cover that offering. The 506 is out there to potentially bring in outside investors who would get restricted shares. I am not an expert on this and they have done very little private placement if any at this point.
6. The O/S shares are under 350 million! He doesn't have an exact number as the dividend is still being processed by the T/A. They are not dumping shares into this market and certainly not at this price!
I need a drink so I am going to pop a top for pop! and continue.
