Cal-Bay International, Inc. (PINKSHEETS: CBYI) today released the following update regarding the distressed Single Family Residence property acquisition offers.
Cal-Bay today announced in reference to the company's PR dated March 27th, 2012 for the purchase of 12 Bank Owned distressed SFR properties in the Pacific West Coast, Inland Empire region, the company has received notification 4 properties to date have received a bid approval from the sellers. The company is considering increasing the offer on the remaining properties in order to meet compliance with the funding requirements from the $3M line from the overseas funding group.
Cal-Bay is continuing to search for additional distressed SFR properties in the same region, and expects to be making further announcements this month relative to the SFR properties.
ABOUT CAL-BAY INTERNATIONAL:
Primarily a Residential & Commercial Real-Estate acquisition and development company, Cal-Bay plans to continue the acquisition of distressed and undervalued residential and commercial real estate along with land acquisitions. The land and commercial properties being primarily for use by its own subsidiary companies for the production of "Clean Energy & Power Technologies and Energy Saving Solutions" creating a multi-level revenue center for the company and its Investors. More Information will be available on the company website currently operational and under ongoing development.
Safe Harbor Statement:
Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as CBYI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
Cal-Bay International, Inc.