US-OTCBB-Tickersymbol: IBCX
ISIN: US4492042050
Aktueller US-Kurs : $0.0002
News: finance.yahoo.com/q?s=IBCX.pk
Chart: stockcharts.com/gallery/?IBCX
US Intraday
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US 3Monatschart
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IBCX Infos
www.ibaccorp.com/corporate-info.php
www.ibaccorp.com/auditupdate.php
It is the intent of the company (IBAC) to exit the hospitality industry with significant (as much) cash to reorganize its business and invest in more profitable and less risky businesses. The company has suffered a series of significant losses (in the fourth & first quarter) with the closing of its Royal Arkansas Hotel and other operating losses; the cash the company expects to end up with will be approximately $6,000,000 (six million dollars by its estimates).
"The company has worked very hard to build a profitable and viable hospitality business, we now realize that it must change its business model to succeed, the company believes with the current share structure and current equity in its properties (to be converted to cash) that it is extremely undervalued, 800,000,000 shares divided by $6,000,000 dollars should reflect a significantly greater share price, the current market cap for the company is $80,000 at the bid is significantly less than we paid for one restaurant and is less than the company’s monthly payroll , the company will regroup and become stronger and more profitable and carry out its stated business plan since day one a profitable fully reporting company," said Wayne Burmaster, President & COO IBAC Corporation.
The first issue to be addressed is the sale/spin off of the company's restaurants in Florida, at this time the company has a bona fide offer from a qualified purchaser, the issue at hand is compensation, how much cash will the company receive at closing opposed to the acquirer's stock. The company is negotiating feverously for as much cash as possible up front and expects this issue to be resolved within days.
The second issue to be addressed is the acquisition of the Rosswood Country Club in Arkansas; the company has reached an agreeable purchase price with the sellers and the Board of Directors of the selling entity has approved via a unanimous decision to sell to IBAC Corporation with certain contingencies. The company is reviewing all and expects a positive resolution, with the end result of the company becoming the owner of the property very soon.
The third issue to be addressed is the company moving to the OTCBB., The company has previously stated it is their intent to become a fully reporting company via a reverse merger into a fully reporting OTCBB company. The company has identified 3 possibilities and has chosen the one it feels is best suited towards its needs. After certain requirements are met, the company expects a successful merger very soon.
"The company obviously cannot divulge all aspects of ongoing deals, what I have tried to do is give a definitive overview of where we are at this time; I expect all of these situations to become reality and many other ongoing negotiations to come to fruition," said Wayne Burmaster, President IBAC Corporation.
ISIN: US4492042050
Aktueller US-Kurs : $0.0002
News: finance.yahoo.com/q?s=IBCX.pk
Chart: stockcharts.com/gallery/?IBCX
US Intraday
US 3Monatschart
IBCX Infos
www.ibaccorp.com/corporate-info.php
www.ibaccorp.com/auditupdate.php
It is the intent of the company (IBAC) to exit the hospitality industry with significant (as much) cash to reorganize its business and invest in more profitable and less risky businesses. The company has suffered a series of significant losses (in the fourth & first quarter) with the closing of its Royal Arkansas Hotel and other operating losses; the cash the company expects to end up with will be approximately $6,000,000 (six million dollars by its estimates).
"The company has worked very hard to build a profitable and viable hospitality business, we now realize that it must change its business model to succeed, the company believes with the current share structure and current equity in its properties (to be converted to cash) that it is extremely undervalued, 800,000,000 shares divided by $6,000,000 dollars should reflect a significantly greater share price, the current market cap for the company is $80,000 at the bid is significantly less than we paid for one restaurant and is less than the company’s monthly payroll , the company will regroup and become stronger and more profitable and carry out its stated business plan since day one a profitable fully reporting company," said Wayne Burmaster, President & COO IBAC Corporation.
The first issue to be addressed is the sale/spin off of the company's restaurants in Florida, at this time the company has a bona fide offer from a qualified purchaser, the issue at hand is compensation, how much cash will the company receive at closing opposed to the acquirer's stock. The company is negotiating feverously for as much cash as possible up front and expects this issue to be resolved within days.
The second issue to be addressed is the acquisition of the Rosswood Country Club in Arkansas; the company has reached an agreeable purchase price with the sellers and the Board of Directors of the selling entity has approved via a unanimous decision to sell to IBAC Corporation with certain contingencies. The company is reviewing all and expects a positive resolution, with the end result of the company becoming the owner of the property very soon.
The third issue to be addressed is the company moving to the OTCBB., The company has previously stated it is their intent to become a fully reporting company via a reverse merger into a fully reporting OTCBB company. The company has identified 3 possibilities and has chosen the one it feels is best suited towards its needs. After certain requirements are met, the company expects a successful merger very soon.
"The company obviously cannot divulge all aspects of ongoing deals, what I have tried to do is give a definitive overview of where we are at this time; I expect all of these situations to become reality and many other ongoing negotiations to come to fruition," said Wayne Burmaster, President IBAC Corporation.
