$THE WAVE (WAVERIDER$)

[Bucks4Buckeyes]

Tidal Wave Alert: IEBS Can Be Huge for Wave Riders

This past Wednesday we sent the email to alert you to Independence Bancshares Inc.
Independence National Bank is a bank in Greenville, SC which has 3 branches.



UPDATE: Just as we had predicted, on only 6500 shares sold (around only $1500) the share price doubled on Thursday!

This is an EXTREMELY LOW FLOAT and will move on air!

Many people look at the price and consider that it is too “expensive” of a stock for them. The potential of 1000% from .30 is very realistic in just a very short time.

Does it really matter whether you spend $500 for 166,666 shares at .003 to get to .03 or 1,666 shares at .30 to get to $3.00?

Furthermore, this is a valid company with real branches and fully SEC-reporting.
Why are we enamored in sub-pennies which MAY be real and HOPEFULLY will move if millions of shares are sold, and not a solid, real bank where we have seen evidence that it WILL move?



Here is the recap email once again:

They are a stable bank which has weathered through a difficult stretch in the economy. IEBS was focused primarily on real estate and when the market turned, they were required to reassess their target for growth and have now clearly targeted small business in the community.

• Amazingly Low Share Structure
100 Million Common Shares Authorized
2 Million Common Shares Issued & Outstanding
Share Structure has not changed since Bank Opened – they first began trading at $10 share!

• Increase in Annual Revenues Each Year
• Fully-Reporting Company
OTCQB Exchange and has never missed a filing since company began

*Important Background:
Because of the recession and the effect upon small banks, IEBS entered into a binding agreement with their regulatory authority (the OCC) which set benchmarks for their achievement. Part of that requirement was to raise the Authorized Common Shares from 10 Million to 100 Million.

The Bank still maintains the best rating achievable for any bank.

Why A Tidal Wave Pick?

1. The assets to liabilities ratio

Per OCC Directive, the Company has emphasized a higher Sales to Total Assets Ratio.

Quarter Sale:Assets Deposits Assets Liabilities
5/7/10 19.63% 109.4M $137.7M 121.6M
8/9/10 19.64% 107.4M $132.5M $117.6M
11/5/10 17.31% 104.9M $123.9M $112.0M
3/7/11 17.52% 106.M $121.8M $111.4M
5/13/11 20.36% 104.5M $120.6M $111.7M
8/10/11 20.44% 100.1M $116.7M 107.6M

2. The management handling of the Fins shows strength in managing shareholder value.

All filings current since 2004 – Bank opened in 2005
New banking procedures affected company greatly in 2008
From most recent 10-Q:
“We continue to carefully focus on liquidity management during 2011. We plan to continue reducing brokered time deposits as cash balances, retail deposit growth and operating needs allow.”

3. Revenues increasing to further future growth

The primary source of funds are deposits and short-term repurchases.

Annual Average Deposits from 10-K
2006 $40.4M
2007 $73.0M
2008 $93.7M
2009 $101.2M
2010 $106.1M

4. Unique product or business plan that will continue growth

Another federal Quantative Easing is coming
They have adapted from emphasizing real estate to small business growth
Company has only captured a little less than 1% of area market.

5. Lower float with room to grow and not maxed out

10M Preferred Shares – 0 Issued & Outstanding
100M Common Authorized Shares
2M Issued and Outstanding – has not changed since 2005!

Share Structure Changed in March 2011, but at this point the Company has no intent to issue more shares.

6. Green earnings Per share or very near to green now and will be this year

Filings show they have turned the corner
They maintain an excellent rating
In January 2010, their regulator (OCC) established new, stricter guidelines & they have shown improvement in every area so far.

7. Increased revenues and news of major growth steps

Slowly Increasing Market Share in Greenville area.
Company is focusing strongly on attaining OCC benchmarks

“As of June 30, 2010, the most recent date for which market data is available, total deposits in the Bank’s primary service area were over $12.7 billion, a slight decrease of less than 1% from $12.8 billion as of June 30, 2009. At June 30, 2010, the Bank’s deposits represented 0.85% of the market, increasing from 0.81% at June 30, 2009.”

8. Board or stock has not been abused by daytraders on the ihub or is not known at all

Currently there are 8 Board Marks & about 40 total posts.
[color=red]Stock had 29 total trades in 2010 & 11 total trades in 2009.
Virtually an unknown stock in the trading community.
[/blue]
9. The level 2 has room to grow and allow all the Wave readers to get in at a great price

This stock may become too volatile for many Wave Runners to get in.
From 10-K:
“We are currently quoted on the OTC Bulletin Board under the symbol “IEBS” and have a sponsoring broker-dealer to match buy and sell orders for our common stock. Although we are quoted on the OTC Bulletin Board, the trading markets on the OTC Bulletin Board lack the depth, liquidity, and orderliness necessary to maintain a liquid market. We have no current plans to seek listing on any stock exchange, and we do not expect to qualify for listing on NASDAQ or any other exchange for at least several years. The OTC Bulletin Board prices are quotations, which reflect inter-dealer prices, without retail mark-up, mark-down or commissions and may not represent actual transactions.”

“As of March 7, 2011, there were 2,085,010 shares of common stock outstanding held by approximately 549 shareholders of record. All of our currently issued and outstanding common stock was issued in our initial public offering which was completed in May 2005. The price per share in our initial public offering was $10.00.”

“There is currently no established public trading market in our common stock and trading and quotations of our common stock have been limited and sporadic. Because there has not been an established market for our common stock, we may not be aware of all prices at which our common stock has been traded. We have not determined whether the trades of which we are aware were the result of arm’s-length negotiations between the parties. Based on information available to us from a limited number of sellers and purchasers of common stock who have engaged in privately negotiated transactions of which we are aware, there were approximately 29 stock trades in 2010 ranging from $2.05 to $0.16. These trades occurred throughout the year.”

10. After this early alerts the stock still has room for major buyers to get in and increase volume plus allow profit and increase for all the first couple of days.

With only 29 total trades in 2010 – Any serious money comes in, may pop too quickly if people wait.