IAHL Corporation (IAHL)

[AngelHillCorp]

IBCX ~ Talked to CEO ~ 3rd Q Audit ....

I talked with Ed Hayter on 12/19/06 ...

I was informed the 3rd Q report on website
is accurate to audited financials ...
Cost about $80,000 to complete
Was quite an ordeal with subsidiaries audited

I was informed the 3rd Q audit release
was more in timing with otcbb uplisting ...

In regards to otcbb uplisting
2006 ~ 10K is due 90 days from Q closing 12/31/06 ...

Rosswood could be included in 3rd Q filing
under Updated Recent Events as of timing of 3rd Q filing ...

I was also informed T/A gag is being lifted anyday now ...
It was bad judgement not ungagging T/A for the 8mths
with 188m O/S & 200 A/S and a very stong 9/30/06 3rd Q Report ...
IBCX was very unpopular at the time coming out of 1/80 R/S ...

Cash is being used for Rosswood closure ...
Major City Foreclosure Hotel deals are being reviewed ...

Ed stated he filed 350m share reduction & was going to talk with the attorney why it was never filed with Delaware .. He was also advised at that time to increase shares going into otcbb merger uplisting and did so as the file that was reported by Delaware on 12/13/06 ...

We talked on the current market value and the current no no no on any new issue of stock restricted or not especially at this low level as it holds only waste with no equity value ... He stated he has no plans of any new issue and no way would he ever go over 500m o/s in the future looking at mistakes of the past ... There seems to be no logical reason for any new issue as any issue at this low level is demise & waste of equity value ... In the same regards the stock is currently trading far below a proper calculated market equity value ...
Ed is now in review of reducing A/S to 500m with no need for any new issue ...

IBCX is on very good terms with local banking and we talked about the potential of moving forward with any bargain foreclosure hotel deals that may be availiable in the future with conventional low interest Real Estate loans and not involve any stock equity funding in the transactions especially when it is trading at this low level of market value ...

Ed talked of his interest in buying up the float at this low level and in regards increasing market equity pps value along with decreasing day trading resistence to strong pps gains of a fair market value ... In the same regards any future issue that may be needed would be restricted and therefore at no dilution to the float which would be at a low minimal level ...

He spoke of his strong concern for all shareholders being in the money & future shareholder value pps gains along with his own personal investment in the company ... We spoke in detail of the current value of the company compared to the current undervalued market pps value ...

Talked about 2006 Letter to Shareholders with past reference & future company projections.

I am currently reviewing over equity & net revenue projections along with getting an accurate T/A share count to opinion & evaluate a true market value along with potential pps gains ....

I wish you all a ............
Merry Christmas & Wealthy Healthy New Year ...