Replies to post #870 on IAHL Corporation (IAHL)

[LandLord]

Hayter pulled a Viyon reverse split, so this won't be his first. His semantics of "no reverse split" doesn't mean having a REVERSE Merger into one of his shells where the current bagholders still will lose their shares on whatever ratio he chooses.

[mick]

HI GEE , from this release it looks like a shorter thing.

i mean never saw a company going private give the shareholders a good they couldn't refuse.

IBAC Corporation Board of Directors to Explore Management Buyout
Tuesday May 17, 11:28 pm ET


NEW YORK--(BUSINESS WIRE)--May 17, 2005--IBAC Corporation (Pink Sheets:ICAN - News) today after the bell announced that the Board of Directors has approved a requested action to explore bringing the company private via a buyout and has approved corporate counsel to pursue a management buyout that would return to the company to the private sector.
Management believes at this point of poor market conditions for its securities and shareholder discontent that a buyout from management and returning the company to the private sector would be a solid business decision. The Company will review all options and act accordingly, with the intent of the company being a private entity.

"I believe that this is the best course of action at this point since I have a major investment in this company and the share price has not performed the way I thought it should. I have advised my counsel to explore all the ways to bring the company private via buying any and all shares I need to. I respect all shareholders that have invested in the company and hope they will realize that this action is in the best interest of the Company," said Edward W. Hayter, President.

About IBAC Corporation

IBAC Corporation, a food and beverage services/restaurant/hotel/entertainment holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group / National Hospitality Management Service/ Monarch Entertainment Group Worldwide and The Royal Arkansas Hotel & Suites, IBAC intends to grow aggressively throughout the next three years through acquisitions, mergers and the building of new establishments.

Forward Looking Statements: This information includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel as related to the restaurant industry. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.



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Contact:
IBAC Corporation
Investor Relations, 800-275-8201
[e-mail]



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Source: IBAC Corporation


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