ICBS update to shareholders

NEW YORK and MONTREAL, July 12 /PRNewswire-FirstCall/ - ICBS Ltd. (OTCPK: ICBT), announced today that it is providing shareholders with a update vis a vis general business matters.

ICBS has completed the Canadian 2010 Financial statements. These statement have been sent to our SEC approved CPA in the U.S. Andy Platte for completion. The companies include, Canadian Bio Med Systems Inc., 51% shareholder, BioSpec Global Solutions Inc., 25% shareholder, and ITrendsoft Ltd., 75% shareholder. Ramapo Valley Brewery (Assets) 100%

Concerning Ramapo Valley Brewery. The ATF refused the brewery a permit to brew beer, even though the State of New York approved the permit. ICBS owns all of the assets of this brewery , (approximately 1.5 million dollars)and we are working with our attorneys in New York (Abel Pierre Esq.) to get the brewery reopened. We believe that this brewery will be immensely profitable with our award winning Gluten free beers.

BioSpec Global Solutions Inc., we are currently in negotiations with Beijing Titan Instruments of China for distribution of the TOGS 3000-9000. The company has commissioned Commbits.com of Toronto to design the new website which will have the ability not only to inform, but for the online ability to sell units.

Canadian Bio Med Systems Inc., we are currently working to complete the funding required to commence animal studies in Canada and the U.S. (3.5M)

ITrendsoft Ltd. The site is up and running and is starting to generate revenues.

"Our purpose is to make ICBS more transparent for our shareholders in 2010" said Garth McIntosh, President & CEO "On behalf of ICBS we intend to file additional information with Pink Sheets in an effort to obtain full transparency status. We publish information on ongoing investments and coming opportunities as soon as the company has signed the appropriate agreements.

Many of ICBS's investors should not be influenced by stock bashers using various pseudo with hidden agendas on the Internet. In the past these individuals have been successful for example in thwarting attempts for an acquisition by ICBS preventing an opportunity and harming the company's legitimate shareholders, such as our negotiations to acquire additional equity in BioSpec Global Solutions.

Let me address finally the people who use the boards to brand us scam artists. All of the press releases are backed up by signed documentation. All of the investments ICBS has made are real. If you have a concern regarding any of this information we will gladly supply you with details providing they do not violate any confidentiality agreements we have signed with third parties.

I have noted on many of the boards concerns that the company will do a reverse split on the shares. Although we have had to increase our authorized to raise capital and use shares for acquisitions, issue not only common stock but RESTRICTED shares. We do NOT at this time have any plans to do a reverse split. A reverse split would increase the value of the shares, however it would have a negative impact on our ability to maintain active trading of ICBT shares, so moving forward, we can only hope the market makers will allow this stock to rise to it's own value.

We are actively seeking new opportunities for investment" said Garth McIntosh, President & CEO." We are now in negotiations with two Parma companies , which we shall make public should we move past our initial discussions. ICBS will make the announcements once we have signed documents in hand"

In the past we have been involved in many ventures. One of ICBS's primary roles was to acquire the necessary funding for these ventures. Some time we have been successful, some times not. In the case of Northern Lights Airlines. ICBS was able to sign an exclusive service agreement with the Tunisian government, however in spite of successfully finding an investor (12.5M) the investment fell through and the airline did not get off the ground.

I would like to thank our investors , many of which have called me, some to voice their concerns about the fallen price, ask questions, and to lend their support. The Pink Sheet market is difficult at the best of times. We are working to make ICBS (ICBT) a success.".

ICBS specializes in mergers and acquisitions (M&A) advisory services and invests in selective businesses with potential for high growth. The Company has designed a three-pronged business model that can potentially yield long term rewards with relatively diversified revenue streams, by, Acquiring and consolidating undervalued opportunities in selective high-growth industries to create value for our shareholders and target partners by combining expertise in both the product and capital markets. Acting as an incubator for emerging companies. Taking interest in partner companies to align with their long-term interest and help build enduring value for our investors.

NB. This news release includes statements that constitute forward-looking statements. Please be aware that any such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of any number of factors, including the risk factors contained in the Company's disclosure documents.

SOURCE Inter Canadian Business Service