IAHL Corporation (IAHL)

[binzur]

There are two separate events.

The spin off. A pink sheet company is buying IBAC's restaurants and catering business for 4.5-5 M. Most likely IBAC is getting both cash and stock of the new company. My guess is the company will keep the money to use to develop the golf course property for homes and also to renovate the club house. The shareholders will get the shares in the new company. If you read the pr none of the officers or board members will receive any shares.

The reverse merger. IBAC actually buys an existing OTCBB shell and moves all of the assets into that OTCBB trading vehical. I believe they will keep the same trading symbol and become an OTCBB fully reporting company.

JMHO!