Just for a comparison again..please note the mentioning of franchise business..LOL
July 25, 2005
NEW YORK -- IBAC Corporation (ICAN:PK) today announced that it has formed two new wholly owned Tennessee subsidiaries to be used for the recently acquired Memphis Airport Hotel & Restaurant property.
The company for certain business, tax and liability purposes has formed two new Tennessee corporations; the respective subsidiaries are Memphis Airport Restaurant Group, Inc. & Memphis International Airport Hotel, Inc. The company will transfer title for the Memphis hotel (parcel 1) and the restaurant (parcel 2) to the new Tennessee corporations respectively from its Royal Arkansas Hotel & Suites subsidiary.
This action is being taken in preparation/anticipation of being awarded a Denny's franchise and other certain operational/managerial considerations.
PRSU announced last week:
Prime Restaurants, Inc. Board of Directors Approves the Creation of a Wholly Owned Subsidiary/Division to Acquire Franchised Restaurant Operations
Aug 13, 2007 8:38:00 AM
FT. MYERS, FL -- (MARKET WIRE) -- 08/13/07 -- Prime Restaurants, Inc. (PINKSHEETS: PRSU) today announced that its Board of Directors has approved the establishment of a wholly owned subsidiary/division to acquire established franchises within the restaurant industry.
