CBA Florida Inc. (fka CBAI)

[goingbkrpt]

This whole Red Oak deal was not for the shareholders. It was simply so that CCEL does not have shares to sway the votes in the "special meeting" or change the board. They did it simply to keep their own jobs. The shareholders are getting screwed. It is very simple. The deal is not a good deal. If you do the math, the end result of the tonaquint note came out to be about $2.5 million + about 9% interest per year which came out to be $3.3 million. Just do the numbers. The new equity investment was just so that management can keep their jobs & continue milking shareholders. We would be better off without the new request in A/S & then we can worry about a board vote later. The dilution is horrible. It is the management working on self interest only AS IT ALWAYS WAS HERE. The want to eat from the cake & keep it whole at the same time. The market cap (share price/OS) being so low was not in their favor. It opens up a takeover possibility (which happened). The reason why the market cap was so low is because they keep upon screwing up. So their only option is request more shares. The simple way would be to let the company make the money it should be making. Pay off the note. After that they can worry about their luxuries & bonuses.