IBCS news....................
SANTA MARIA, Calif.--(BUSINESS WIRE)--Jan. 5, 2004--International Broadcasting
Corporation (OTCBB:IBCS - News) said today that it plans to eliminate most of
its debt over the next several weeks and abandon projects that the Company feels
are expensive and have minimal profit potential for the near future. The Company
also plans to break into the AM radio-broadcasting arena in order to be in on
the forefront of digital AM and introduce the all-talk format of IBC Radio
Network into local communities. IBCS will also seek merger opportunities whereby
one or more private companies could be "vended" in.
Daryn Fleming, President of IBCS, says, "Early this year we will make our
balance sheet more attractive, refine our strategies and continue to look for
funding so that we can properly execute our business plan. In 2003, we had a lot
of proposals for funding, however, we turned them all down because they were not
shareholder-friendly."
The Company will release more details of the debt reduction program and its AM
Radio strategy over the next several weeks.
"Aim low Sheriff...They're ride'n snakes"
as usual...JMHO..SMD
