IBCX.PK...is no longer valid.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

[Michael]

If Mike's number is reliable, we shall be trading much higher.

Yeah that is the big question. If the numbers are correct It would be crazy to take profit at 0.02 or 0.05 for that matter.

The numbers are as reported by the company: http://ibaccorp.com/IBACCOMPLETEFINANCIALSSEPT.pdf. Would they report substantially wrong figures in October and then report audited figures in December that significantly deviates from them. You never know but...

I have checked the assets and all the hotels and restaurants do exist and is owned by IBCX (51% to 100%) as reported. So it seems the asset part of the balance sheet is fine.

I really don't know what to make of IBCX but I have followed the advise of FOUS and bought a bit today.

Penny stocks are always risky. Pink Sheets even more so but I am willing to run the risk here.

[shipman]

Right On! I feel much more confident.  Thanks Michael.I take back my hypothetical sell at .02    Let's get Dave to do a fundamental on it.  Just for another opinion of course.

[brookguo]

haha, i feel more comfortable too. then what's our target now? 1000%? i dont know. just sit here and see.

[shipman]

Chart

[shipman]

The last penny stock I can remember kicking out a dividend was PTSC.  At the time the .02 cents per share was about 10% of the share price.  25% sounds great to me even if it's in stock.  Reducing the shares sounds beneficial as a holder.  With 280 million shares @.oo9 you get 2.52 mill market cap, divide by $1.6 million dollars earnings = 1.57 P/E today.  Even fully diluted  1.96 P/E.  A steal, so it seems.  I know it's no tech stock like PTSC,  but, pretty compelling.   The numbers can't be that far off.  Maybe a little better.  BALL-Z  trade.

[AussieTrader]

When fundamentals and technicals collide hopefully you get an explosive result:

Thanks FOUS, I am gonna trade with STEPS

What the F#@% is STEPS http://www.3stocksonfire.org/trading/index.php?topic=7595.msg78305#msg78305

[brookguo]

for the dividend, here is the link about the rule:
http://www.investopedia.com/articles/02/110802.asp
"......if you are not in the company's record books on the date of record, you won't receive the dividend payment. To ensure that you are in the record books, you need to buy the stock at least three days before the date of record, which also happens to be the day before the ex-dividend date."

Most likely we wont get the divi since we wont be in the record books by tomorrow.

[AussieTrader]

for the dividend, here is the link about the rule:
http://www.investopedia.com/articles/02/110802.asp
"......if you are not in the company's record books on the date of record, you won't receive the dividend payment. To ensure that you are in the record books, you need to buy the stock at least three days before the date of record, which also happens to be the day before the ex-dividend date."

Most likely we wont get the divi since we wont be in the record books by tomorrow.

Not quite true Brookguo, as this is a 25% or greater dividend, different rules apply. See this link. http://www.nasd.com/web/groups/rules_regs/documents/notice_to_members/nasdw_003997.pdf

[brookguo]

Got it. Thank you.

[shipman]

This was the deal that set the share price off on the 20th.  Looks like it's going to close.  Positive the first time.   Should be positive again.  This aquisition  and the approved 100 million dollar budget should already be baked into the stock price. It's old news.  Also, on 11/02 they got an offer for their restaurant operations.  No details yet as to whether it's going thru or not. But, it would mean another distribution to shareholders.  So they say they don't have to dilute to aquire the country club,  they'll sell the restaurants if profitable, and they're gonna give me a 25% dividend in a couple of weeks.


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


Rosswood Country Club Board Unanimously Agrees to Sell the Historic Property to New York Based IBAC Corporation
Thursday November 30, 11:00 pm ET


NEW YORK--(BUSINESS WIRE)--IBAC Corporation (PINK SHEETS: IBCX - News) a Hospitality/Resort Holding Company reported that tonight the Board of Rosswood Country Club in Pine Bluff, Arkansas unanimously agreed to sell the historic property to IBAC Corporation. The Property will be a 100% owned subsidiary of IBAC Corporation
ADVERTISEMENT


The country club & golf course a 72 par/6,908 yards was commissioned by International Paper and built and designed by the world renowned golf course designer Alfred H. Tull and opened in 1961, and includes tennis courts, pool, banquet space, restaurant, bar, pro shop with a resident pro. The property encompasses approximately 200 prime acres. For further information visit: http://www.southcentralgolf.com/Pages/Templates/ ArkPrivDetail.php?recordID=Rosswood%20Country%20Club (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

The company intents to utilize the country club as an added amenity to the hotel it owns The Royal Arkansas Hotel & Suites in Pine Bluff, Arkansas, The company also intends to incorporate/build a number of tasteful high end single family homes and/or condos on the property abutting the golf course while not compromising the courses history or design, thus creating additional profits from the acquisition while defraying the acquisition cost. The company also intends to maintain the current members of the board on an advisory basis; it is the intent of the company to increase membership back to the level that this property has once enjoyed, with the prestige and level of service equal to or beyond its history.

"We are very excited with the Rosswood Country Club Boards approval of this acquisition as it opens a whole new stream of revenue and adds another significant real estate owned property to our portfolio, the number of profit centers involved with this property are extremely exciting, membership fees, wedding receptions, liquor and food sales, catering etc. The company will never compromise the integrity of this world class property, it is only our intent to restore and enhance its position in history. We expect to close and take possession of the property by year's end." said Wayne Burmaster, President IBAC Corporation.

"We are totally committed to the city of Pine Bluff and the community and we will continue to invest in quality properties in Arkansas" added Wayne Burmaster President IBAC Corporation

IBAC Corporation is a New York-based holding company operating through its subsidiaries within the Resort, Hotel, Food Service & Restaurant industries. IBAC now has operations in Florida, Tennessee & Arkansas. For more information, please visit: www.ibaccorp.com.

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the Company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "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, as amended. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The Company assumes no obligation and does not intend to update these forward-looking statements. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, without limitation: competitive and general economic conditions, adverse effects of litigation, the timely development and acceptance of our products and services, significant changes in the competitive environment, the failure to generate or the loss of significant numbers of customers, the loss of senior management or increased government regulation.



Contact:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
[email protected]
www.ibaccorp.com

--------------------------------------------------------------------------------
Source: IBAC Corporation

[Michael]

This was the deal that set the share price off on the 20th.  Looks like it's going to close.  Positive the first time.   Should be positive again.

Well the deal makes a lot of sense for me. They already own the largest Hotel in Pine Bluff. So there should be a lot of synergies like package tours, catering etc.

Again if the company's PR is to be believed they have bought this property with free cash. The assets IBAX corp has is astounding for a company with a market cap of 2.5 million. But strangely enough that is also what makes me think twice about this investment. If it is too good to be true....

I pulled the trigger yesterday but if you are considering doing the same be sure to only invest money you can afford to lose. This is either a scam or one of the best opportunities I have seen for a long time. It is all about risk and reward and I feel the reward outweight the risk.

Let me finish with a picture of the Golf Course. It looks great but the club house needs a little love and care.

[David Randolph]

Ok, read this thread (great info, thanks ), the press releases and the company's website and here's how I figure IBCX:

- They probably contracted an investment banker or trader to advise them on getting some investors money so they could acquire the Country Club & Golf Course. I say this because on the balance sheet released on October 23rd and on their website, it shows 200 million authorized shares, 188,937,483 issued and outstanding; This is also the share count you get on Yahoo and www.marketwatch.com.

- Then, on November 22, they release this: IBAC Corporations Board Approves Reduction in Its Authorized Shares by 150 Million. From 500 million to 350 million. But "hey, never heard of 500 million, we thought the number of authorized shares was 200 million !"

- So, the company's plan with all the press releases and marketing (I received information about IBCX on other stocks folders, as they were spreading the information) was to get investors attention and ultimately, money. Anyway, it seems like they were surprised by the market response and got more than they wanted, or got it easier than they thought, so ...

- The reduction of authorized shares from 500 million to 350 million. Since the price of the stock rose 15 fold in 5 trading days, the value they got for their shares rose a lot, so they didn't need to sell until the limit of 500 million shares. They will also distribute a share dividend of 25%.

- This stock dividend of 25% means nothing to me. You get 25% more shares but each share represents 25% less of the company's value. But its a good marketing tool.

- AussieTrader did good DD on bringing up that NASD regulation, I didn't know about that. I guess most people don't know it either, and that may at least partially explain the 3 days fall out (many people bought because of the dividend news and now are selling because they think it is the ex-dividend date).

- Now, let's get to the interesting point. The current market cap is about $0.009*(350,000,000/1.25) = $2.52 M. The company expects $10.5 M to $11.5 M revenues in calendar 2006. If their 14% net profit margin is maintained, net income will be $1.54 M, so the earnings multiple is 1.64

- If the information presented here is true and the company doesn't increase the number of shares authorized without any word to investors (as it did recently), this stock should rise 10 fold from current levels to reflect the true value of the company.

- These are big "ifs", but also considering the property check Michael did (and bringing out the balance sheet and the math), I think it is worth the risk. You risk, say, 50% if it's all bullshit, and get 500 to 1000% if it's true. Also, technically the stock is at a sweet spot to buy, finishing wave 2 at the 200 day SMA, as Elliot theorists would say.

Thanks for all and good luck

[brucey]

 

[brucey]

 
Just learnt a lot here....
David,Aussie,Mike,fous.Julia .....for new traders,you guys' post show how to trade: how to do TA and FA,when to enter....very important for new traders....hehee,i didn't know the NASD regulation Aussie mentioned ...
thanks guys!

[Stocky2000]

12mio shares after close.....until then there were 32 mio shares traded after close volume was 45mio....