Cal-Bay International Inc (CBYI): Lifegear & Cyclone101, with CBAY…...

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Re: lifegear post# 17290

Thursday, 09/13/2007 1:45:10 AM

Thursday, September 13, 2007 1:45:10 AM

Lifegear & Cyclone101, with CBAY…

I never received the email from the CEO, but I did get a phone call from Jason A. Savlov who I believe is a lawyer. He is the point of contact for handling the CBAY situation dealing with CBAY’s assets being frozen. He works for Wildish and Nialis which is a full service Real Estate and Business litigation firm.

I mentioned to him that within the CBAY filings, it was mentioned that CBAY had over $26 million in Equity. He explained to me that they are in foreclosure for many of their properties. He told me that they are trying to take care many of the existing liabilities totaling around $600,000 and that their Equity is not near that $26 million anymore.

I explained to him how logically one could think that the Outstanding Shares (OS) for CBAY is 370 million given that the new CEO and President filed a Form 4 with the SEC stating that the 37 million shares he bought represents 10% of the OS.

He told me that he is neither not aware of what is going on with the CBAY securities nor what’s the direction the new CEO is planning on taking CBAY, but he did say that he knows that the previous management made issued and outstanding 4 billion shares to help for paying other debts and expenses. I told him that was in line with the increase of the Authorized Shares (AS) to 4 billion shares a while back.

Although he was not very positive about CBAY, he was not sure of any of the new CEO’s plans for its future. CBAY appears to be in wait and see mode from confirmation on its new direction from the new CEO.

I do see where a .01 per share cash dividend was awarded to CBAY shareholders last year within the Form 8-K filed below:
http://sec.edgar-online.com/2006/04/12/0001271008-06-000006/Section4.asp

Heck, this cash dividend was given to CBAY shareholders last year during Apr 06 of last year. This company seems to of had too many good things going on in such a not long ago time frame to have all of it to have gone bad so soon. Somehow and somewhere along the lines, the previous management really botched some things up.

It looks like the new management will be able to at least get rid of everything to balance out all of its previous debts and liabilities to at least have a fresh start. I’m guessing that this new CEO is going to have an impressive resume and an impressive new direction. Heck, I’m not even in yet and already I’m talking about some wishful thinking (LOL).

v/r
Sterling

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