QBID's partner in crime has something to say about it.
Purely coincidental?
Press Release Source: IBAC Corporation
IBAC Corporation Responds To Shareholders Inquiries
Wednesday March 23, 8:23 am ET
NEW YORK--(BUSINESS WIRE)--March 23, 2005--IBAC Corporation (Pink Sheets:ICAN - News), responds to shareholder inquires regarding a previous press release and other company business matters.
The company has had numerous inquiries pertaining to alleged plagiarism of another company's news, IBAC Corporation and management categorically deny these allegations, as previously announced a group of private investors advised the company of their intent to purchase a large position in ICAN and indicated that they will pay up to 0.01 for that position and the company accepts this to be fact, the company opted to make said news public, any similarities of content to any other company news is purely coincidental.
The company would also like to address numerous inquiries regarding shorting/naked shorting, the company views this as a very serious matter and is currently seeking the best course of action to investigate/resolve and seek all legal remedies pertaining to this matter immediately.
"The Company knows of no reason for the volatility in the per share price of the Company's common stock. All markets have volatility, and this is especially true on the Pink Sheets. Although our stock has climbed over the last month only to retreat with a number of ups and downs in between. IBAC shareholders believe it has been a long-time victim of short sellers, and naked short selling, which over the long haul has been a major contributor to the current price of our shares. However, over this period, we have announced some of the best news in our company's short history, we intend to rectify this continuous harm to our company's share price by any and all legal means available to us as this matter is interfering with the stated growth plan and operation of our company," said Edward W. Hayter, President IBAC Corporation.
About IBAC Corporation: (Pink Sheets:ICAN - News). IBAC Corporation, through its operating subsidiaries, IBAC Corporation owns/operates The Sanibel Restaurant Group/The Royal Arkansas Hotel & Suites/National Hospitality Management Services/The Royal Entertainment Group a company based in New York, 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 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.
Contact:
IBAC Corporation
Investor Relations, 718-891-8188
Fax: 775-320-5437
Investorrelations@ibaccorp.com
www.ibaccorp.com |
