BIH Corporation (fka BIHC)

[porkbelly]

Funny PR today,didnt I tell you he would see the questions on this board and would Pr somthing to try to clear the air!

Does Anyone think Ed Hayter is reading this board?

Does anyone think Hayter post on this board?

Isnt it funny how they Pr that Hayter has no part here?

How come they dont Pr they Have 2 Restaurants?

I have a Pr stating they Bought 2 restaurants of Ed Hayter for 4.1 million dollars!

Funny to see The new CEO trying to con people in to buying this stock!

Here it is folks.......

IBAC Corporation Completes the Sale of Its Florida Restaurants and Now Is Poised to Take New Direction
Market Wire, April, 2007
IBAC Corporation (PINKSHEETS: IBCX) the New York-based hospitality provider today announced it has completed the sale of its Florida Restaurant subsidiaries (The Bonita Springs Restaurant Group, Inc.) and (The Sanibel Restaurant Group, Inc.) to Prime Restaurants Inc. for $4,100,000 dollars. The new company Prime Restaurants, Inc. will take possession after a transition period of two weeks.

IBAC Corporation will start to redesign its business model seeking better more established and less risky business investments, within major cities within proven stable industries. The company still maintains its 51% state (ownership) in The Memphis International Hotel & Restaurant Property and will seek a buyer for the property. The company values the property between 4 to 5 Million dollars.

IBAC Corporation was started in September of 2004 and had a business model of acquiring distressed properties within the hospitality industry, and acting as a holding company providing the funding for these acquisitions while maintaining a majority interest in them, while the minority partners were the operators of the businesses, the premise of that business model was to enhance accelerated growth without the management headaches on a day to day basis of the operations. Needless to say that strategy did not work out the way the company anticipated.

"The company now will focus on only 100% company owned acquisitions with proven operating revenues and profits with a stable history. We are reviewing several opportunities at this time and will choose the best opportunities going forward," said Wayne Burmaster, President, IBAC Corporation.

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