IAHL Corporation (IAHL)

[AngelHillCorp]

IBCX .... Value Figures ...

Colony has Cozze listed for Sale for $2.2m
Coldwell Banker Naples
Sold as leased income property ..

Colony owns Cozze with IBCX 1st right of purchase
IBCX must have included property purchase in $4.1 sale
Therefore $2.2m goes to Colony for property ..
Colony may try to sell it 1st
but IBCX has right to refuse buyers

Basic Formular ...
Fl Restaurant Business Sales (Property not owned)
1 1/2 to 2 X Net Earning + Amenities Assets = Sale Price
2 X $300k Net + $200K Amenities = $800K Cozze leased Sale Price
$800K is fair value for Bonita Springs restaurant business sale

$800K Rest business + $2.2m building = $2.8m to $3m full Cozze ownership

Cozze Net Figure ...
$90K Sales Tax 8mths / 6% Fl Tax = $1.5m 8mth Rev
$1.5m / 8mths = $187,500 mth
$187,500 x 12mths = $2.25m potential yr Rev
$2.25m Rev X 15% = $337k yr Net
Ave Fl Rest Net formular = 10% to 15% of Rev

Cozze Rest $600k business sale + $200k amenities = $800K
$800K + $2.2m property = $3m
IBCX leases from Colony owner
IBCX has 1st right to purchase

I have not looked at Sanibel Palms Sales Tax figures yet
Sanibel is leased and sold as business with amenities
A rough figure of $3m to $4m yr revenue
Sanibel business + amenities sale = $1m to $1.5m

Cozze $3m with property + Sanibel $1.1m = $4.1m
$2.2m would go to Colony for building
$1.9m to IBCX - $500k bills due & cost = $1.4m net cash

$1.4m Sanibel Sales cash + $1m Hotel (51%) = $2.4m net cash
Thats if Hotel 51% is sold free clear for $1m ...
Hotel sold value may be worth $2m to $4m ...