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.
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
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!http://www.sterlingsclass.com/
$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
have made if you hadn't ignored this thread...