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Author Topic: ICAN:PK [Hot Stock] - Up 100% already  (Read 1867 times)
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Eco-Logic
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« on: February 22, 2005, 04:36:51 AM »

If any of you have a brokerage account and an extra 1 to 2 hundred bucks, take a look at ICAN.pk.  Of course pinks are always a gamble so only invest what you're willing to lose.  

Still though, this one could easily break a penny and has seen .16 before.  

A friend of mine did a quick breakdown:

Quote
CAN has Outstanding Shares (OS) in the amount of 7,338,015,586 shares. The Insiders under management’s control owns 6,030,743,925 shares that I believe are restricted and/or accounted for to not be released into the market. This leaves 1,307,271,661 shares in the Float that is available for the public to buy.
http://www.ibaccorp.com/corporate-info.php

With the CEO buying back 500,000,000 shares from the open, this leaves a total of 807,271,661 shares remaining for the public to purchase. Personally, I think that well over half of those remaining shares have been bought from the general public outside of these message boards. That leaves at most about less than 400,000,000 shares available.

With people that I immediately know, over 300,000,000 shares can be accounted for. That leaves less than 200,000,000 million shares remaining before the Float is completely gone. With these derivations, I think the float is actually gone from including shares that exist from many of you out there with positions in ICAN.

This is when we should see basic “supply and demand” principles kick in as the market begins to see the opportunity to purchase ICAN at a significantly discounted price. Please observe:

With the OS being 7,338,015,586 shares, at .0004 cent(s), this means that ICAN is worth the below Market Cap:

7,338,015,586 x.0004 = $2,920,000

The above is simply saying that ICAN has only $2,920,000 in total value. This is not true as many have already confirmed.

ICAN has value somewhere in the $35,000,000+ range from our current assets, the acquisition of the Royal Arkansas Hotel & Suites, from closing the acquisition of the two other contracted Sanibel Steakhouses by years end, and the hotel he is so nice to give to us shareholders. Please go back and read previous PRs to get a good feel of what we have here with ICAN.

To determine where ICAN should be trading commensurate with its actual value under the Market Capital Analysis, solve for X from the equation below:

7,338,015,586 x X = $35,000,000
X = $35,000,000 ÷ 7,338,015,586
X = .00476 cent(s)

The above calculations are thoughts to consider to support why ICAN could justify trading at a current share price of .00476 cent(s). This means that this price is really considered the bottom for ICAN because as more value is placed into ICAN, the price of ICAN should be increasing from the .00476 levels.

To prove whether or not ICAN is still dumping shares is fairly simple actually. Call Altas Stock Transfer Corporation and see what they tell you. They should always give you an honest answer. I think that ICAN is a steal at these prices. The Float will soon be gone and tightly held by those who know where ICAN is going.

The company has been buying back shares in accordance with SEC Rule 10b-18 below:
http://www.sec.gov/rules/proposed/33-8160.htm

If I had to guess, the CEO will officially announce either at given internals or all at once when significant amounts of shares have been bought back to instill investor confidence. Let’s analyze some important things with the SEC rule 10b-18 that I think are very important that’s being ignored. Let’s start with the section called Price Condition:

Under Section II, B, 3
”The price condition is intended to prevent the issuer from leading the market for the security through its repurchases by limiting the issuer to bidding for or buying its security at a price that is no higher than the highest independent published bid or last independent transaction price.”

The above means that all of the volume that was being reflected at the bid that people thought was coming from the company dumping shares was actually coming from the company buying back shares.

Let’s now look at the section right before the one we just discussed called Timing Condition.

Under Section II, B, 2
”The timing condition restricts the periods during which the issuer may bid for or purchase its common stock. This condition excludes from the safe harbor purchases at the opening and during the last half hour of trading because market activity at such times is considered to be a significant indicator of the direction of trading, the strength of demand, and the current market value of the security.”

Only my opinion, but I believe that ICAN is sitting on news that will be rocking the world. I expect to see this news released in the very near future to kick this puppy into the pennies. This news will force the MMs to not do any naked shorting because the Float is too small and all present and accounted for.

History about ICAN for a quick synopsis:
http://www.ragingbull.lycos.com/mboard/boards.cgi?board=ICAN&read=3703


ICAN’s Website:
http://www.ibaccorp.com/corporate-info.php

It comes down now to the company proving to the public that there are no concerns for dumping shares. The CEO says he is not dumping shares. I believe him. They can prove this by filing with the SEC or issuing a significant stock dividend in another company that will support the given number of the OS structure involved to justify the announced ratio.

The hotel the CEO is giving to us shareholders in Pine Bluff is worth $23 million from replacement value with about $1 million mortgage remaining before it’s paid off. This means that if the hotel burns down today, we will get:

$23 million - $1 million = $22 million net value

The CEO is doing a $500,000 renovation loan in which the bank is going to loan him $250,000 and the CEO is coming with the other $250,000 for completion.

ICAN has a contract for the concessions in the Convention Center, the Pine Bluff Convention/Arena Complex, that’s worth $4 to $5 million over the next 5 year increments for the next 20 years. With the formation of the Royal Arkansas Productions, Inc, the entertainment company, that $4 to $5 million will most likely significantly increase revenues over the life span for the next 20 years.

This is a triple sub-penny stock that has a moderate OS with a consistent flow of revenues for the next 20 years. There is much more that I recommend going back and read the previous and past PRs. I think ICAN will prove to be a winner. The above are my opinions for what I see in ICAN.

All is well!
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Sterling


$150 bought me 375,000 shares.  And I will just sit and wait.  The company is generating $20,000+ per day from each resteraunt and has no business selling for under a penny.

Hoping this can be my QBID.PK story.  Another friend got in qbid back when it was selling for .0001 and ended up making over 16K on the deal.

Anyway, just pointing it out if any of you enjoy a gamble.  

**READ**  I'm not pumping the stock, just pointing it out.  Research it yourself before buying it.  I'll periodically update this thread, for fun, so you all can see (fingers crossed) how much you could have made if you hadn't ignored this thread... slywink
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« Reply #1 on: February 22, 2005, 06:02:21 AM »

These are penny stocks right?

I remember when Enron was getting penny-stocked. That was fun.
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Eco-Logic
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« Reply #2 on: February 22, 2005, 02:47:27 PM »

Up 25% today smile
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Eco-Logic
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« Reply #3 on: February 22, 2005, 03:10:31 PM »

50% smile biggrin
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« Reply #4 on: February 22, 2005, 04:50:06 PM »

Quote from: "SuperHiro"
These are penny stocks right?

Most definitely a penny stock, if not less. biggrin

While I find that trading like this to be a fun thing to do if one has the time to watch over a stock all day, I'll just invest like the usual investor does - via an investor company one can trust.
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Eco-Logic
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« Reply #5 on: February 22, 2005, 05:07:47 PM »

Up 100%
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Eco-Logic
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« Reply #6 on: February 22, 2005, 05:24:35 PM »

/me Drools
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« Reply #7 on: February 22, 2005, 05:27:03 PM »

Eco,  this is great and all that you've found a good stock.  My question would be How long are you in to invest in the company?  If you're in to turn an immediate profit in under a couple of days or hours, I would suggest that you have found stock investment for the wrong reason.  The short term profit does net you money, but how is the speculation helping you or the rest of the market?
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Tom "Dreamshadow" Tjarks
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Eco-Logic
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« Reply #8 on: February 22, 2005, 05:34:28 PM »

Quote from: "Dreamshadow"
Eco,  this is great and all that you've found a good stock.  My question would be How long are you in to invest in the company?  If you're in to turn an immediate profit in under a couple of days or hours, I would suggest that you have found stock investment for the wrong reason.  The short term profit does net you money, but how is the speculation helping you or the rest of the market?


What do you mean I've found stock investment for the wrong reason?

With the money and time I spend with penny stocks, it's all about profit.  The profit, short or long, helps me a great deal.  In fact, one should always take a profit regardless if it's short or long, keeping some freeshares is a good idea as well.  

"How is the speculation helping you or the rest of the market".

Well, doubling my initial investment is one way the speculation helped me.  With all due respect, I'm not sure you quiet grasp the micropenny market, or stock investing in general.
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Eco-Logic
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« Reply #9 on: February 22, 2005, 05:53:54 PM »

So I sold half to get my principle back and will keep the freeshares till .01, or .16 (52 week high).
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« Reply #10 on: February 22, 2005, 06:06:12 PM »

Quote from: "Eco-Logic"
Quote from: "Dreamshadow"
Eco,  this is great and all that you've found a good stock.  My question would be How long are you in to invest in the company?  If you're in to turn an immediate profit in under a couple of days or hours, I would suggest that you have found stock investment for the wrong reason.  The short term profit does net you money, but how is the speculation helping you or the rest of the market?


What do you mean I've found stock investment for the wrong reason?

With the money and time I spend with penny stocks, it's all about profit.  The profit, short or long, helps me a great deal.  In fact, one should always take a profit regardless if it's short or long, keeping some freeshares is a good idea as well.  

"How is the speculation helping you or the rest of the market".

Well, doubling my initial investment is one way the speculation helped me.  With all due respect, I'm not sure you quiet grasp the micropenny market, or stock investing in general.


Actually, you're probably right.  I don't think I"ve even seen any reference to the "micropenny" market before today.  *shrug*  I dunno.  I guess I know enough people who are into basic day trading and chasing the current rising stock that it leaves a bad taste in my mouth.
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Tom "Dreamshadow" Tjarks
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« Reply #11 on: February 22, 2005, 06:37:38 PM »

Congrats, EcoLogic.  Man, I wish I had the money to have jumped in on it. smile

Good luck.
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Eco-Logic
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« Reply #12 on: February 22, 2005, 06:49:11 PM »

Thanks Zarkon.

Dream, just wondering why daytrading leaves a bad taste in your mouth?

The stock is back down now, just up 25%.  Now I don't actually care what happens to it as I have my principle already.
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« Reply #13 on: February 22, 2005, 08:01:47 PM »

First off, I'm not knocking your good luck, Eco.  I was brought up with my parents wanting a more stable market, so I think that's where I lean.  I've never investigated investment too much, but my parents were more likely to mess with mutual funds and such rather than short term trading.  So the idea of investing like this seems very opportunist, with little to no thought on the long term.  

*shrug*
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Tom "Dreamshadow" Tjarks
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Eco-Logic
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« Reply #14 on: February 22, 2005, 09:33:49 PM »

I know you weren't knocking my luck, just as I wasn't knocking you.  

I don't see a problem with being opportunistic when it comes to investing.  In fact, I think that is the nature of most investing, excluding mutual funds (where the fund managers are the one's being opportunistic).  

Anyway, I'll continue to update this thread throughout the week and we'll see if my luck turns slywink
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« Reply #15 on: February 23, 2005, 12:51:03 AM »

eco, if one wanted to start into this, what would be required outside of cash?  i have the basic understanding of the market, but as far as trading personally, i am stumped.  who do you use?  how much time do you devote to it during the day?
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« Reply #16 on: February 23, 2005, 02:11:11 AM »

Quote from: "Caine"
eco, if one wanted to start into this, what would be required outside of cash?  i have the basic understanding of the market, but as far as trading personally, i am stumped.  who do you use?  how much time do you devote to it during the day?


I use Scottrade.  There are better brokers for penny stocks, but Scottrade is nice.  It used to be really expensive to trade pinks there (like $22), but now pink slips are $7+ a small % like OTC stocks.  

I use Scottrade for my regular stock trading, so that is why I've been using it for pennies.  I spend around an hour or so a day, during market hours.  Placing trades whenever I need to though.  I typically find out what I want to buy after hours and buy when the market opens if the first few orders are in line with my feelings.  

Pennys are risky.  Some penny stocks don't even have a product.  Just do your own research and go with your instinct.  im me if you have any other questions.
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« Reply #17 on: February 23, 2005, 03:51:41 PM »

Bah, I'm on sharebuilder which doesn't allow investments in pink sheets.  I think I have a scottrade account open but they wanted $50 to transer the account, and I was feeling stingy.  Should probably look into that again.
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Eco-Logic
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« Reply #18 on: February 23, 2005, 04:54:43 PM »

I typically don't buy pinks anyway.  Normally stick with OTC, but from time to time something jumps out at me.  

ICAN is down today, FYI.  It'll be back up though.
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« Reply #19 on: February 23, 2005, 09:26:01 PM »

Actually finished the day up 14.29%.  Company Is also spinning off some of it’s assets into another stock and issuing a stock dividend.  The stock will not be restricted and is on the OTCBB instead of pink sheets. 
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« Reply #20 on: February 24, 2005, 12:39:15 AM »

thanks eco.  i'll look into all that.
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