How many preferred shares are out there? Why do we mention preferred shares??
IBCX did put out a PR that they sold 2 restaurants for 4+ million DOLLAR to a company called Prime Restaurant in 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."
OBVIOUSLY for the moment PRSU only "owns" 1 restaurant "worth"
1.8 million $ ..hmmmmm ANYHOW :):) how was the transaction paid for ??? Did PRSU pay in cash..hmmm would they not have mentioned that?? Who would have coughed up 1.8 million $ in cash for a restaurant that is on a monthy lease agreement?? NOWBODY from the company claimed that they have paid cash..!! where would they have had the cash from anyhow..LOL
HENCE THERE MUST BE A HUGE AMOUNT OF PREFERRED SHARES OUT THERE THAT COULD AND PROBABLY ARE IN THE BILLIONS OF SHARES , BECAUSE THEY WILL BE ADJUSTABLE TO THE STOCKPRICE AND SHARESTRUCTURE!!!! btw. the same hidden game was played with IBCX.pk
