ICAN News
February 03, 2005 13:21:00 (ET)
NEW YORK, Feb 3, 2005 (BUSINESS WIRE) -- 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."
About IBAC Corporation: (PINK SHEETS:ICAN). IBAC Corporation, a food and beverage services/restaurant holding company based in New York, NY. Operating through its subsidiaries, The Sanibel Restaurant Group and National Hospitality Management Services, IBAC intends to grow aggressively throughout the next three years, through acquisitions, mergers and the building of new establishments. |
