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Thursday, January 11, 2007 12:09:12 PM
So Memphis hotel value of $2,876,100 and restaurant $283,400. The value of the Royal Arkansas hotel $2,158,350. Total so far just with the hotels is $5,317,850. If you add the value of the golf course, providing that it is a done deal we could be well in excess of 6.5 to 7 million in value. Add to that the value of the other restaurants to be sold or spun off approx 5 million, we have almost 12 million in value. At a 10 times gross multiplier that is 1.2 million per year in revenue.
Why is this stock not at .02 or .03? Market maker short positions? Just people selling because they are tired of waiting, they don't trust Ed? Probably a combination of all.
IMO the last pr stated that they DID submit to the sec the filing for merging with the otcbb shell company, all we are waiting on now is for them to backtrack and file all past paper filings on electronic format.
If Ed would just pr the o/s and explain the 2 billion restricted a/s issued, then we could move. Hopefully he has changed from his past and is really going to make this ibcx a good investment for the current shareholders, including himself.
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