On December 9, 2000, about 1300 Eastern Standard Time, a Cessna 172M, N80854, was substantially damaged while landing at the Montgomery County Airport (IOB), Mount Sterling, Kentucky. The certificated student pilot received minor injuries. Visual meteorological conditions prevailed, and no flight plan was filed for the local instructional flight conducted under 14 CFR Part 91. The student pilot departed IOB solo about 1230, to practice takeoffs and landings. The student pilot stated that while landing on Runway 03, in the flare, "...the plane ballooned and I did not correct for it." He added that the nose gear struck the runway, and the airplane "porpoised." The airplane then traveled off the left side of the runway. The nose gear dug into the grass, and the airplane came to rest inverted. The student pilot reported that he had approximately 56 hours of total flight experience; of which, about 20 hours were solo experience. The reported winds at IOB, at 1245, were 090 degrees at 6 knots.