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Monday, January 08, 2007 9:21:43 AM
That having been said with what I am reading and the expense involved I do not know why IBAC (IBCX) is going that route. My feeling is go the form 10 route and immediately like this week become a fully reporting company. File all the forms, AF's and follow all requirements to be a fully reporting company.
Now because of the past and also the new regs in 2005 Ed's advisors may see a rough path with the SEC via form 10 and they may be advising him that it could take 6 months or longer and that may be why he is going the reverse merger direction. Just seems very expensive. We also really have no idea what deals he is looking at beyond Country Club, spin off and I am sure they are looking at the next deals beyond that!
Biznur
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