IAHL Corporation (IAHL)

[realest]

Eelf, no reason not to have the cash. Supposedly they made arrangements to be able to get 100M available financing......., if they haven't got it closed now, it's either legal or they aren't as aggressive as they thought.

http://biz.yahoo.com/bw/061026/20061026005362.html?.v=1&printer=1

Press Release Source: IBAC Corporation

IBAC Corporation Board of Directors Approves Budget to Add Additional Real Estate Owned Properties
Thursday October 26, 9:12 am ET


NEW YORK--(BUSINESS WIRE)--IBAC Corporation (Pinksheets: IBCX - News) 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.
The company has been pretty passive with its acquisition strategy, now that the board of directors has approved a definitive budget, the company executives will pursue additional acquisitions like the country club/golf course aggressively.



Posted by: eelfland
In reply to: DoDahMan who wrote msg# 12336 Date:1/6/2007 12:17:15 PM
Post #of 12381

Regarding the golf course deal, I don't really have any solid information about it, but my guess is that the offer we made is contingent on financing being arranged, and that financing has yet to be arranged. We'll probably have to sell some other property to get the money............