Alot of potential events coming forward that may be what investors are looking for ...
Some are very upset with raising of A/S to 2b on 12/13/06 instead of reduction to 350m in 11/21/06 PR along with the T/A being gagged and having a bad attitude about ceo due to past performance of the stock ...
The CEO states they are not using the restricted #506 on the really good revenue producing business deal that was offered to IBCX now partly due to the equity value of the stock and once the company moves onto otcbb by reverse merger the A/S will be reduced to 500m or less with the same IBCX O/S structure it has now which is about 350m O/S ... He also stated the #506 will be null and void moving onto otcbb ... It looks like the business plan is to close the Rosswood Country Club deal with company cash which all seem to agree is a really good deal with potential strong profit ... The deal looks to close anyday and CEO says it was in delay due to holidays, paperwork & attorneys ... next step looks like a spin off of the Sanibel Restaurants to a trading pink sheet for cash and stock dividend to IBCX shareholders .. Some cash of spin off looks to be used for uplisting IBCX to otcbb thru reverse merger to a clean otcbb empty shell moving in the same IBCX share structure of about 350m O/S with a A/S of 500m or less along with a null void #506 ... The CEO says the time frame is about 30 days .. The audited 3rd Q finacials are suppose to come out anytime in regards to all of this which the CEO says are reflective of the unaudited financial report on IBCX website ... If it all comes together as normal or better there is potential of strong upward pps movement from this level ...
The current pps looks very undevalued to what the public information is telling us like IBCX having a book value on 9/31/06 of .034 pps and eps of .005 ... certain factors of public disclosure like the T/A being gagged a restricted #506 being filed along with raising A/S thru a Delaware filing on 12/13/06 seem to be scaring many investors the last couple weeks into selling and not buying strong until more public disclosure to secure their investment figures going forward ... These factors risky thou due to the 3rd party public disclosure issues may offer a risky investor a very strong buying opportunity at this very low undervalued bottom looking pps ...
Weigh in the risk factor with IBCX's potential pps gains moving into the future of full otcbb disclosure ..
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