IBCX.PK...is no longer valid. It has changed to "TSXT.PK"

[bmarc4211]

I purchased after December 1st.  Does this mean that I will hold the same amount of share, only they will be worth 25% less after today?  25% dividend payable to holders as of record on Dec 1st.

[David Randolph]

For the record, I want to leave here that I've sold IBCX.PK today, because of the following analysis of mine (initially I didn't knew all the facts, but the market tipped me to dig further). Good luck to anyone still holding

He sold for a small loss and a BIG lesson!  I think the lesson was worth the loss.  Thanks for all you do David

I guess so. Now he knows the stock market can be a very risky place and that's a good thing to know.

I don't have a bullish explanation to what happened today on IBCX. A friend of mine has, he says people were disappointed because they thought the restaurants would be sold to someone instead of a spin off in the public market, according to this press release:

• IBAC Corporation Announces Offer to Acquire its Restaurant Operations
Business Wire (Thu, Nov 2)

Their English seems as bad as mine

But I think the message is clear, I'm pretty sure that the market cap isn't nearly as low as we've all been thinking. On the balance sheet says 188 million shares outstanding (market cap = $1.316 M). We have calculated that, with 350 million shares authorized and a 25% stock dividend, the share count couldn't possibly be more than 280 million (market cap = $1.96 M).

So, when they say they will spin off a part of the company (less than half) that is worth $4.5 to $5 M, the share price necessarily should have risen to represent a market cap of at least $10 M, that would be something like $0.043.

Instead of rising six fold, the stock went down 12.5%. Why?

Here's a possible explanation, a disgusting one:

- Before being IBCX, the company's ticker symbol was ICAN. If you have some time, you can read this old ICAN message board. The part that caught my eye was:

«NEW YORK, Mar 09, 2005 (BUSINESS WIRE) -- IBAC Corporation, (Pink Sheets:ICAN) announced today that it's CEO, Mr. Edward W Hayter, will retire 6,000,000,000 shares of his personal ICAN common stock in exchange for a class of preferred stock.»

- This tells me there are a lot of preferred shares outthere, not mentioned on the pro-forma balance sheet or in any other place. These preferred shares, owned by the company's CEO, probably are convertible to a very high percentage of ownership of the company. For example, those preferred shares might be convertible into a number of common shares that always grants Mr. Hayter 80% or more of the ownership of the company.

I've seen this trick on GSHF, VRDM and INSQ, remember those horrible ethanol plays?

Basically, common shares don't represent the company's value. They're a worthless piece of paper.

If my bearish theory is right, all these enthusiastic press releases are there for one thing and one thing only: steal money from investors, in a legal way !

These guys may sell common shares all the way down to $0.0001, because they don't represent the company's value, preferred shares, owned by the CEO, do.

[setravis]

I was informed by Ramsburgh that after David sold
IBCX.PX that it would be ok to go ahead and merge these
2 threads on this stock pick.
Happy trading ......

[angelhillcorp]

CEO Ed Hayter's ~ 6B Preferred Shares where converted
into 100m Common in regards to the 1/80 R Split on 3/10/06 ......

Shares .... 12/16/06 ~ After 25% Dividend
A/S .............. 350m
O/S .............. 285m
CEO ............. 125m ............ Ed Hayter
Pres .............. 28m ............ Wayne Burmaster
#506 .............. 50m ............ Restricted #506
Public .............. 82m

** NO PREFERRED SHARES of RECORD

9/30/06 ~ Financials ....................
http://www.ibaccorp.com/IBACCOMPLETEFINANCIALSSEPT.pdf

Delaware Sec of State ....... http://www.state.de.us/corp/default.shtml
09/28/06 ....... Incorporation
09/24/06 ....... Merger
05/11/05 ....... Admendment
05/12/05 ....... Stock Designation
05/17/05 ....... Admendment
02/16/06 ....... Admendment
03/14/06 ....... Admendment
10/11/06 ....... Admendment
12/13/06 ....... Admendment

** 12/15/06 ~ 25% Dividend ~ Pay Day
** 12/13/06 ~ Authorized Shares Reduced ~ 500m to 350m
** 10/11/06 ~ Authorized Shares Increased ~ 200m to 500m
** 03/31/06 ~ 15% Dividend ~ Pay Day
** 03/14/06 ~ Authorized Shares Reduced ~ 500m to 200m
** 03/10/06 ~ 1/80 Reverse Split ~ 150m O/S
** 07/14/05 ~ Authorized Shares Reduced ~ 12B to 11B
** 05/15/05 ~ 15% Dividend ~ Pay Day
** 05/12/05 ~ Authorized Shares Reduced ~ 20B to 12B
** 02/01/05 ~ 10% Dividend ~ Pay Day

** Reference Share Structure 3/15/05 .....
http://www.investorshub.com/boards/read_msg.asp?message_id=5744062

***************************************************************

IBAC Corporations Board Approves
Reduction in Its Authorized Shares by 150 Million

November 22, 2006 - 8:56 AM EST

IBAC Corporation (IBCX) announced today that its Board of Directors has approved an immediate reduction of its Authorized shares from 500 Million to 350 Million.

The company had previously increased its authorized shares to 500 Million in anticipation of certain pending acquisitions that may have required issuance of stock, after the negotiations of these acquisitions the stock will not be required as the acquisitions will be funded from cash flow.

The reduction in authorized shares is in line and includes considerations of the 25% stock dividend, payable to shareholders of record on December 1, 2006, the share dividend will be paid with non restricted (free trading) stock

***************************************************************

** 12/15/06 ~ 25% Dividend ~ Pay Day
** 12/13/06 ~ Authorized Shares Reduced ~ 500m to 350m
** 10/11/06 ~ Authorized Shares Increased ~ 200m to 500m

***************************************************************

IBAC Corporation Reports
Completed Stock Dividend Payout &
Current Common Share Structure

Business Wire, April 10, 2006

NEW YORK -- IBAC Corporation (Pink Sheets:IBCX) today announced that it has completed the payout of the 15% share dividend per the stated pay date of March 31, 2006. The company has also completed the filings with the state of Delaware reducing the company's authorized common shares to 200 Million.

After said actions the company's common share structure is authorized 200 Million and the Issued/Outstanding are 188,937,483 million after all payments of dividends were completed, the outstanding share figures were provided by the company's transfer agent after all payments were made and were not the cause of any dilution/selling of shares. The company has not or will not engage in any regdex/504 filings and will not be increasing the authorized common shares.

The company's near term plans going forward include the completion of the recently agreed acquisition of Sanibel Steakhouse in Bonita Springs, Florida by May 1, 2006, completion of audits and filing to move to the OTCBB

***************************************************************

IBAC Corporation's Board Approves
an Additional Reduction of Its Authorized Common Shares
and 15% Share Dividend

Business Wire, March 13, 2006

NEW YORK -- IBAC Corporation (IBCX:PK) announced Friday after the bell that it's Board of Directors has approved an additional reduction of its authorized common shares to 200 Million from 500 Million. The Board also approved a 15% stock dividend, with this action the Board believes it will further help bring the company's market capitalization in line with the true value of the company and allow greater opportunity for growth of the share price.

The company has not filed for any new regdex/504 and will not do so; the decision was made after long discussions with our advisors. We believe the action will enhance the value of the company and will help create a stronger balance sheet/audit when we apply to the OTCBB for listing.

The reduction in the authorized shares will take effect immediately with the appropriate filings being submitted to the Secretary of State of Delaware this week, the 15% stock dividend pay date will be announced by this Wednesday and appropriate paperwork immediately filed. This will leave the company with 200 million common shares authorized and with the 15% stock dividend 172,500,000 million common shares outstanding, the balance of 22,500,000 million common shares will remain in the company's treasury and will not be liquidated.

We have decided to reward our shareholders with this 15% stock dividend for their loyalty and patience as we continue to bring the share valuation in line with the company's assets/revenues. The company last year also rewarded its loyal shareholders with 25% in stock dividends. We are continuing to strive towards maximum shareholder value and confidence in the direction of the company while we ready/prepare ourselves for listing on the OTCBB." said Wayne Burmaster, President & COO.

***************************************************************

** 03/31/06 ~ 15% Dividend ~ Pay Day
** 03/14/06 ~ Authorized Shares Reduced ~ 500m to 200m
** 03/10/06 ~ 1/80 Reverse Split ~ 150m O/S
** 07/14/06 ~ Authorized Shares Reduced ~ 12B to 11B

***************************************************************

IBAC Corporation to Further Reduce
Authorized Shares & Issued and Outstanding Simultaneously

Business Wire, July 14, 2005

NEW YORK -- IBAC Corporation (ICAN.PK) today announced that in addition to yesterdays announced 625,676,008 Million of Common Shares being retired effective today at the opening of business, and the approved additional buyback of up to $500,000.00 of its common stock on the open market over the next six months, it will now also reduce the authorized shares by 1 Billion immediately. (Pending filings with Delaware by counsel.)

The company intends to purchase as many shares as possible on the open market over the next six months with its budget of $500,000.00 and will simultaneously reduce its authorized shares equal to the purchased shares in equal amount blocks. This process is being taken to bring the share value inline with the company's true worth.

The company's Sanibel Restaurant Group Unit will undergo its first six month audit (IBAC has only owned it since January 4, 2005) next week followed by The Royal Arkansas Hotel (IBAC has owned it 1 year at the end of August), the newly acquired Memphis Airport Ramada and the second Sanibel Steakhouse in Bonita Springs (closing at the end of August) audits will be ordered and integrated when needed. This action is being taken to position the company for its anticipated move to the OTCBB.

**************************************************************

IBAC Corporation Retires 625M Common Shares &
Approves Additional Share Buyback

Business Wire, July 13, 2005

NEW YORK -- IBAC Corporation (ICAN.PK) today announced that 625,676,008 Million Common Shares have been retired effective at the opening of business tomorrow. IBAC also announced that the company has approved an additional buyback of up to $500,000.00 of its common stock on the open market over the next six months.

The company has budgeted the $500,000.00 over the next six months out of operating revenues and does not expect it will cause any adverse effect on operations. The projected revenues for July at The Company's Royal Arkansas Hotel are expected to be at a five year high along with better than expected revenues of the recently acquired Memphis Airport Ramada along with other company operations, the company feels that the budget is achievable.

"The company will continue to implement its aggressive growth plan while enduring start up and rapid growth pains, in just nine short months the company has gone from a dormant non operating company to over 100 employees in three states, we will continue to grow our assets & revenues and achieve all of our stated goals." Said Edward W Hayter President & CEO of IBAC Corporation

**************************************************************

IBAC Corporation to Increase Company Share Buyback

Business Wire, May 19, 2005

NEW YORK -- IBAC Corporation (OTC.PK:ICAN.PK) Today announced that they will increase the previously announced company share buyback from up to 300M to 750M shares on the open market by September 30, 2005. The Company has purchased 200M shares today on the open market through a third party.

***************************************************************

IBAC Corporation Board of Directors
to Explore Management Buyout

Business Wire, May 18, 2005

NEW YORK -- IBAC Corporation (Pink Sheets:ICAN) 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.

***************************************************************

** 05/15/05 ~ 15% Dividend ~ Pay Day
** 05/12/05 ~ Authorized Shares Reduced ~ 20B to 12B

***************************************************************

IBAC Corporation Completes Restructuring of Common Stock

Business Wire, May 12, 2005

NEW YORK -- IBAC Corporation (OTC.PK:ICAN) announces that its Board of Directors has now approved a restructuring of its authorized common shares from 20,000,000,000 to 12,000,000,000 effective immediately, the certificate of amendment has been filed with the State of Delaware by corporate counsel.

This is a significant reduction of the authorized common shares by the company as we continue to seek ways to enhance shareholder value during these trying market conditions, without limiting the company's ability to complete certain pending and ongoing negotiations of additional acquisitions.

The company has had several shareholder comments regarding a reverse split and the pending 15% dividend payment, the company has no plans of a reverse split as this is not in our business plan going forward, secondly the 15% dividend is payable May 15, 2005 as this date falls on a Sunday the payment will be made on Monday May 16, 2005.

Regarding existing share buyback's previously announced Mr. Hayter's buyback for his personal portfolio is nearly completed, and the company buyback will start within the next two weeks of up too 300 million common shares.

***************************************************************

IBAC Corporation Board Approves
300,000,000 Share Company Buyback Program

Business Wire, April 19, 2005

NEW YORK -- IBAC Corporation (ICAN:PK), a Hospitality, Restaurant, Food & Beverage Service, and Entertainment Holding Company. Today announced that its Board of Directors has approved a program for open market stock repurchases through September 30, 2005 (By the end of the third quarter) for up to 300,000,000 shares of its stock at prevailing market prices and in accordance with applicable securities laws. Edward W. Hayter, IBAC's Chairman of the Board commented, "The Board of Director's believes IBAC's shares are way undervalued and represent an attractive investment to the company at this time."

IBAC also said in a previous statement the company declared a special dividend of 15% of its outstanding common shares only; this will not include payment on management held shares. The shareholder of record date is May 1, 2005 for this special dividend and will pay all common shareholders 15 shares for each 100 owned with odd lots being rounded up.

"Our overall goal is to enhance shareholder value while reducing the outstanding shares of the company," said IBAC's Chairman Edward W. Hayter. "Our solid performance, strong outlook and robust cash flow, create these two excellent opportunities to return value to all our shareholders while investing to grow profitably in the future."

***************************************************************

IBAC Corporation Has Been Informed
That a Private Investment Group is in the
Process of Purchasing a Large Position in the Company

Business Wire, March 22, 2005

NEW YORK -- IBAC Corporation (Pink Sheets: ICAN), has been informed that a private group of investors is in the process of buying a large portion of its ICAN stock on the open market. The private group of investors has committed themselves to buying ICAN stock up to .01

"We are extremely pleased to have such a strong interest in our company, Management feels strongly that the company's stock is extremely undervalued and we believe it won't take long to see the price appreciate to a level respective of the company," stated Edward W. Hayter, President and CEO of IBAC Corporation. "Our company is operating better than ever. We are building the company aggressively per our stated plans, but there is a clear difference between the growth of the company and the current price of the stock.

"Furthermore, we believe our stock is being unjustifiably suppressed and we can no longer sit back and tolerate that type of manipulation. We are working with the proper professionals and are taking active steps to correct this issue. We feel strongly this will help bring the true value to our company's stock," said Edward W. Hayter.

***************************************************************

IBAC Corporation Reduces Authorized Common Shares

Business Wire, March 11, 2005

NEW YORK -- IBAC Corporation (Pink Sheets:ICAN) announced today that it will reduce the company's authorized shares to 10 Billion.

IBAC Corporation's board of directors has agreed to reduce the authorized common stock from 20 Billion Shares to 10 Billion Shares. The 10 Billion Shares are ICAN common stock; and are subject to all SEC and regulatory statutes.

Mr. Edward W Hayter is continuing to purchase up to 500 Million shares of the company's common stock on the open market for his personal portfolio.

"This non-dilutive measure will bring an increased value to our shareholders," said Edward W Hayter, President & CEO.

This measure is taking place to position the company for the eventual sale or merger of one or more of its subsidiaries to a fully reporting/trading otcbb company

***************************************************************

IBAC Corporation to Retire
an Additional Four Billion Common Shares

Business Wire, March 10, 2005

NEW YORK -- IBAC Corporation, (Pink Sheets: ICAN) announced today that it will seek to retire an additional Four Billion shares of common stock.

IBAC Corporations board of directors has agreed to retire an additional Four Billion ICAN shares to the treasury. The 4,000,000,000 shares are ICAN common stock, this in conjunction with the Six Billion shares to be retired by the personal shares of Edward W. Hayter President & CEO will decrease the authorized common stock by 50 percent and is subject to all SEC and regulatory statues.

"This non-dilutive measure will bring an increased value to our shareholders," said Edward W Hayter. President & CEO "We continue to negotiate and put contracts into place to ensure longevity of revenues for our company and, as this occurs, we will take steps to bring further value to our shareholders."

***************************************************************

IBAC Corporation President and CEO Personally Buying Stock

Business Wire, Feb 3, 2005

NEW YORK -- IBAC Corporation (PINK SHEETS: ICAN), a leading food & beverage/restaurant company today announced that Edward W Hayter, the Company's President and Chief Executive Officer, is purchasing additional stock from the open market for his personal account. Mr. Hayter intends to purchase stock on the open market in accordance with SEC Rule 10b-18.

Mr. Hayter said, "I have strong confidence in IBAC and believe, given our current position, our stock is undervalued and I intend to accumulate up to 500,000,000 shares to add to my portfolio in the near term."

Mr. Hayter added, "With our current assets and revenue stream along with the addition of The Royal Arkansas Hotel & Suites we have shown solid growth and the current quarter looks very good. Along with other prospects I believe our future will be a surprise to the marketplace."

***************************************************************

** 02/10/05 ~ 10% Dividend ~ Pay Day

***************************************************************

IBAC Corporation Amends Previous Dividend Announcement

Business Wire, Dec 22, 2004

NEW YORK -- IBAC Corporation (Pink Sheets:ICAN) previously announced that during a Special Meeting of the Board of Directors the Company approved an increase of a nine percent (nine share) stock dividend to be paid simultaneously with the previous announced forward split of one percent (one share).

The share dividend is a forward split and will be effective on January 7, 2005. Stockholders of record will be entitled to an additional ten shares of common stock (free trading) for each one hundred shares of common stock held on that date; shareholders of restricted shares will not receive any additional shares. The proposed forward split is subject to regulatory approval.

"This Ten percent (10%) stock dividend is intended to lay the groundwork for the anticipated growth of the Company," said IBAC Corporation President & CEO Edward W Hayter. "It is also part of our ongoing efforts to improve trading liquidity, broaden ownership, bring awareness to the company and enhance shareholder value."

The Company on behalf of our shareholders & management would like to wish everyone a very Happy Holiday Season!

***************************************************************

IBAC Corporation New Management

Business Wire, Oct 5, 2004


NEW YORK -- IBAC Corporation (ICAN) today announces that a new management team has been appointed with stock ownership in the corporation and will operate a group of premier dining establishments within IBAC Corporation. Edward W. Hayter is the new president and CEO of IBAC Corporation which trades under the symbol ICAN. Mr. Hayter said: "he is enthusiastic about the future of acquisitions & mergers into the company and enhancement of shareholder value". The business of the company is to own and operate fine dining establishments and to bring profits to the shareholders of the company. The mission of the company is to run upscale restaurants profitably in growing areas and increase shareholder value thru mergers and acquisitions.

[AussieTrader]

Hi AngelHill,

Welcome to the 3SoF community.  guess you stopped by probably after seeing David Randolphs initial bullish appraisal of the IBCX opportunity.

As with all things pink getting to the truth is very difficult, and I know you are long IBCX as you are active on investorhub. Is your point regarding the preferred shares to say that you disagree with David's thought that the CEO is selling 'worthless common' shares into the market. And that in fcat he mo longer holds preferred onLy common? If that is the case, where did you get the information that would confirm that? IN the 30th Sept financials there are 20M preferred shares authorised (none issued at that date). Also interestingly in the foot notes it states that Ed Hayter receives no salary or expenses for his involvement with IBCX??!!??

Interesting change of date for the Monday meeting to today (Sunday):

IBAC Corporation Board of Directors to Move its Previously Announced Meeting from Monday 12/18/06 to Sunday 12/17/06
Business Wire - December 16, 2006 16:34

NEW YORK, Dec 16, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:IBCX), a Hospitality Holding Company, today announced that its Board of Directors will meet Sunday 12/17/06 instead of its previously announced meeting for Monday 12/18/06 to vote on spinning off its restaurants and food service business to another publicly traded company, the Board at the same meeting will also vote on IBAC Corporation moving to the OTCBB via a reverse merger with an existing fully reporting OTCBB trading shell company.

The Board of Directors will be voting for what's in the best interest of the shareholders and the company moving forward.

This change in meeting dates has been prompted by a last minute event that requires the CEO Edward W. Hayter to travel out of town for a meeting on Monday, so that he may finalize an acquisition opportunity that the company has been working on for several months before years end.

The company will release the results of the meeting and the vote and detailed structure, direction as soon after as possible. Mr. Hayter will leave immediately after the meeting as the time frame for completing this acquisition before years end is imperative for tax purposes and others involved holiday schedules.

[angelhillcorp]

Aussie ... I agree with you ....

Mystery pink sheet companies can become a center of deception or prosperity

Yet the big boards are more corrupt with high end corporate greed & deception ...

I have been involved with penny stocks since the 70's ....

Monopoly Capital Corporation ...

I rather enjoy raising a penny company like a very good honest loving baby into wealth & prosperity for the bettermint of humanity but human society is plaqued with self centered evil greed and most baby companies are deceived by phoney fancy suit drug dealing debenture prositutes to rob shareholders & deceive young corporate leadership into evil ways of wealth at the cost of a large population of shareholders  .....

That said the information I have posted on the share structure is all from public information in SEC & State filings along with press releases & corespondence with other shareholders who account to the time dating back with coorespondance with the CEO Ed Hayter .... Like the IH post by Cowboy on share structure in 3/15/05 .....

I spoke personally with Ed on 11/22/06 to verify these figures and those where the figures given me along with an Investor colleauge speaking with Ed Hayter on 12/05/06 getting the same  share count figures .......

Its all there in my post ... alls you need is patience, calculator, phone & belief that the public information & CEO is truthful & honest ...... 

I don't trust or believe in 90% of businesses in the world today along with their self centered greed leadership therefore I DD everthing very through with trusted colleagues ...

Yet many times shareholders are alot worst than the corporate leadership ...
Seem to be many of the same type in business spreading their failures with crimes against investors .... 

Read thru the information I have put together
to clarify & guide your own research of this matter .....

I come from the old family tradition of investment ....
You don't build a company up for your own greed
at the expense & failure of its shareholders ....     

[David Randolph]

Thanks for your posts angelhillcorp and AussieTrader

I don't see any document on your posts that absolutely confirms there aren't any preferred shares other than the pro-forma balance sheet published on IBCX's website.

There's no bullish way to explain the market reaction to Thursday's and Friday's press releases:

• IBAC Corporation Board to Meet Monday to Review a Proposed Spin Off of Its Restaurant/Food Service Unit
Business Wire (Wed, Dec 13)

• IBAC Corporation Board to Review Accelerated Alternative to Move to the OTCBB
Business Wire (Fri, Dec 15)

The news were extremely positive, yet the stock fell 37.5% in those two trading days alone.

Somebody is selling, and selling hard. Wasn't IBCX a $0.0001 stock before the reverse split? I fear it will be a $0.0001 stock again, falling 98% from current levels, don't you?

They could have raised the number of authorized shares again from 350 million to 1 billion, for example. I'm not sure, the only thing I know is the market is reacting negatively to positive news releases, and that almost always leads to a severe decline.

I hope I'm wrong, but I can't stand the risk (even though I bought just 1% of equity in IBCX.PK), good luck to everybody still holding

Angelhillcorp, if you can, please stick around, we sure need a man with your level of expertise in penny stock investing. Thank you!

[guitarman]

Right on Bohemian
I give you an applaud for that.
I am sensing that a lot of momentum has built and the common man is starting to realize the world needs to move in a more positive direction. Ultimately, we have the power and we vote with our wallets.
Thanks to everybody else on this thread....I am learning a lot from you guys!
Check out this link for a free movie.
http://www.mercola.com/2006/dec/12/america-freedom-to-fascism.htm
I guess I'll stay in with my little position and see what happens!
Best
GMan

[angelhillcorp]

I agree .... The timing of events & verifiable evidence coming forward put the risk factor much more in favor of strong appreciation ......

The fundamental facts are very strong for big +pps gains yet the technical aspects are very bad as it is trading well undervalued to its basic Book Value of .$.034 & P/E ratio with an almost unheard of +eps trading at this pink low level  .......

I am even wondering if someone is buying up large blocks and advantaging the technicals with the fundamentals to jump the incriments with large blocks dumping down again in a demising arising cycle  using the basics of pink sheet mystery pump & dump tactics .....

Fundamentals alwas win out over technicals which the audited financials & otcbb listing should bring forward to a truer market value .....

[thai626]

This penny play is becoming very suspect to me and I'm too afraid to hold onto it to make a quick buck.  I had my chance to sell for a nice profit when it hit .0085 but I didn't take it.  Now I regret it BIG TIME!!

Going to sell now at .005 and take a 0% gain and 0% loss.  I am happy with that! 

Looking into NVLS or something where the risk/reward ratio is worth it.   

Good luck all!

[hotdog]

Bohemian - I agree with your assertion that we are just as susceptible to losing our money with companies regardless of the board they are trading on.

I too started so called investing a little under a year ago, and did so primarily for educational purposes - I know there are people on this board that suggest paper trading, but since most of the lessons I have learned in life have cost money, why should this be any different?

I am with you long on this if need be because I also feel that as most people will tell you, past performance is no guarantee of future results - this little idiom slices both ways, and it is pretty much time for this company to put up or shut up. If it completely tanks I will simply chalk up another few bucks toward my education.

Best of luck to you, and anyone else in this very interesting play.

Ed

[Kublakhan]

IBAC Corporation Board of Directors Approve Several Issues at a Meeting Held on Sunday 12/17/06
Dec 18, 2006 1:54:00 PM
Copyright Business Wire 2006

NEW YORK--(BUSINESS WIRE)--

IBAC Corporation (Pink Sheets:IBCX), a Hospitality Holding Company, yesterday Sunday 12/17/06 announced that its Board of Directors has approved unanimously to spin/sell off its restaurants and food service businesses to another publicly traded company, the Board at the same meeting also approved that the remainder of IBAC Corporation's assets and company will move to the OTCBB via a merger with an existing fully reporting OTCBB fully trading shell company.

The first action that was approved was the spin/sell off of the company's restaurants and its holdings in its food service businesses, the value of the transaction is expected to be a minimum of $4,500,000 or as high as $5,000,000 dollars with a dividend to be paid to common shareholders in the form of either cash/stock or both. The dividend will be paid to shareholders only and exclude all officers and directors of the company. The company expects the transaction to be ready to close within Thirty (30) days, at that time the company will announce the payment/dividend structure and provide the name and symbol of the new company.

The second action that was approved was the merger of IBAC Corporation and the remaining real estate owned assets and future acquisitions into a fully reporting and trading OTCBB company, the surviving entity will include all of IBAC's real estate holdings and will maintain the IBAC name and share structure. The shareholders will receive equal value in the transaction of shares of the merger.

Edward W. Hayter the CEO of IBAC and the largest shareholder in the company "said that this plan to maximize the company's asset and shareholder value going forward is the best course of action, I believe that the spinning off of non real estate owned properties and recovering as much cash as possible to reinvest in real estate owned property's and moving the company to the OTCBB are the best way to maximize shareholder value."

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Source: IBAC Corporation

----------------------------------------------

IBAC Corporation
Investor Relations
718-891-8188
Fax: 775-320-5437
ir*ibaccorp.com
www.ibaccorp.com

[Quasi]

Hi: Kublakhan

Yes results of yesterdays meeting, just saw them and you beat me to the post.

Time will tell how this will affect the price action, not great today so far.

Noticed this morning my brokerage account shows an increase in stock by 25%, although it is shown as pending.  Wonder if some of this action is people selling the extra stock div.  Everbody else get their stock also???

At this point, I still have a small position and am basically going to wait it out for a while and watch, ie not increasing my position at this point.

This has been my first venture into the sub penny stocks, usually don't own anything below 10 cents and 90%+ of my portfolio is above $1.  Hopefully this one won't turn out to be just a dead lottery ticket.

good luck

Quasi

[tokyopua]

I held on for my 25% share increase then bailed today for about a 22% net loss.

I remember some random poster on Yahoo saying that pink sheets are the toilet paper of the stock market, lol.  I suppose I might get attracted to some other play in the future, but after this experience I am more inclined to agree with him.  Glad I only paid $290 for the lesson, the tuition could have been much more.... 

GLTA to all still holding 

[Michael]

This has been my first venture into the sub penny stocks, usually don't own anything below 10 cents and 90%+ of my portfolio is above $1.  Hopefully this one won't turn out to be just a dead lottery ticket.

Hmmm... I guess I am responsible for some of the members who have ventured into IBAC  

David made the right call when 3SOF sold. I have to admit that I hold on a bit longer but I am out as well (Thanks to David lecturing me for 1 hour on Friday  )

IBCX need to show some hard evidence of the fundamental value and until now they just keep coming up with press releases full of promises.

I still believe that IBCX is fundamentally undervalued but I am going to stay out until there are some hard evidence to back it up.

I think that both David and I warned everybody not to bet the farm on this one. It seems that was a very appropriated warning  .

For those who are still invested I hope and believe IBCX will be a good investment but the risk is huge.

Somebody is selling a lot of shares while the fundamentals are screaming buy and with pink sheets it pays to read the chart as the reporting and press releases are highly unreliable.