Rebel
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Who knows, but if that's true, then all we have left to count on is Roger coming up with another TRICK...like maybe another 1-cent dividend. Trick or Treat Roger!
(lol)
Lenox's site is interesting...CBAY might have a hit list, but does it really have a "client list?" (lol)
I sent an inquiry to Lenox and it has already been returned with a fatal error--mailbox does not exist.
Maybe they need more time.
But of course it will ameliorate shareholder liquidity because Lenox has NONE and never has, and LNOX doesn't exist! (yet).
So the closing took place in Orem, Utah? Is that where Roger has been hiding?
Interesting and rather hilarious that CBAY is a "corporation duly organized, validly existing and in good standing under the laws of the State of UTAH.." and Seller is "duly licensed, authorized and qualified to transact business and is in good standing in UTAH."
Unbelievable. Someone should tell UTAH about this.
About a reverse split, I thought they may have done that, too, but I wonder why it hasn't shown up in my account.
$10.00 or $1.00 is often used in legal documents simply to show CONSIDERATION in an agreement. For example, in real estate deeds, $10.00 or $1.00 is often used to show consideration on the actual deed, but it's NOT the purchase price.
Darnit--gotta go.
Thanks...I apologize. I did try your link, but because "Robinson" didn't come up initially on the corporate search for Cal-Bay, I thought I was in the wrong place.
Do you have a link? Are you saying that the plaintiffs are voluntarily withdrawing from the case? Maybe the matter has been settled?
Yes, and THAT is the shot in the dark. With 47 (or 53) properties in Las Vegas alone, there's significant market value there. Panguitch Lake in Utah is in a wondrous part of our country. It would take smart leadership, but not a rocket scientist, to figure out a plan to sell this, juggle that, pay off this, keep that, develop this, get all the notices of lis pendens released and get CBAY on an even keel. It will take someone who CARES and is willing to work. No, I am NOT holding my breath...just optimistically speculating because I am stuck.
Oh, in my head-spinning research, I learned that the Aspen Cove Resort and the surrounding real estate was originally purchased by Gateway Distributors (now Marshall Holdings-MHII) in 2003, which was one of Roger’s companies—they sell vitamins and skin care products, and in 2005, Gateway sold it to CBAY for $2.6 million. Gateway has been in trouble with various State attorneys general for lying to consumers, and has had a myriad of other legal troubles as well. As of December, 2006, Pawson was still involved in that company, purchasing 2 BILLION shares that year, and it goes on and on and on…
Here’s a link showing Pawson’s interest in Marshal Holdings (formerly Gateway) as of December, 2006…
http://www.secinfo.com/d12Pk6.u7jt.htm
This is just a link to what I was reading about Panguitch Lake and the area…a paradise for nature lovers and fishermen…
http://www.brycecanyoncountry.com/panguitchlake.html
At this point, I honestly don't believe anyone is "intelligently" investing in this company! Roger took care of that. I think people buying now are just thinkin' that for $100 they can buy 1 million shares, and for a shot in the dark, what the heck.
;)
Because that's what Forms 4 are used for, NOT for company buybacks. Like I said, it could be a trick and done only for "show," and I think we're all aware of that, but it was definitely an insider buy.
That was definitely an insider buy: The new director purchased 37 million shares in CBAY with his very own money. A Form 4 is used only for insider trading, never for a company buyback.
It looks good. Maybe it's a trick, maybe not. I think we all know Roger's game by now.
But $4 million was the purchase price IF the transaction had taken place, but the buyers backed out. I don't believe this property is an asset of CBAY's; I think CBAY is a defendant only because Roger committed the company via corporate guarantee to the tune of $781,000, and I suspect he (or his agents) are the very ones who backed out of the deal ('cause he's that kind of guy).
Of course, I'm not sure...just trying to think like a crook.
It looks like that's the amount of liability under the corporate guarantee that Roger so generously committed CBAY to. I wonder if this $4 million home was meant to be Roger's Kingdom (to be held under a different name, of course).
Do you know whether or not Roger is out completely? Is he still in CBAY as a director along with this new guy? Perhaps he still owns preferred shares? Also, do you know by what authority Roger got the boot? Did he just sell all of his interests to this new guy, and as part of the deal relinquish his positions as director/CEO/President?
The cash dividend was one of Roger's tricks to make CBAY look like a REIT and boost the share price. In fact, an early profile that has since disappeared described CBAY as a REIT, but that dividend WAS paid, and that penny now represents a 10,000% dividend yield (lol).
A Minute Order is like a motion. The court granted the Minute Order of 8/16/07; the only problem is that we don't know exactly what the Order says. I note that Attorney Moriarity didn't file an appearance on behalf of CBAY or Pawson...again, no legal representation. Thanks for the link!
So you're saying that the new guy would have been willing to take over a company run by the very person who defrauded him in the first place without checking things out? No one could possibly be that STUPID, and Roger couldn't possibly be that good!
If that were the case, I just don't think a court-appointed "receiver" would even be allowed to buy 37 million shares. There's got to be more to this. Roger could have simply sold all of his interests in CBAY to this new guy, and as part of the deal relinquish his power as director and CEO. The term "terminated" is interesting.
So we wait (and wait) and wait!
Dunno, that's why I'm wondering if the removal of Roger as director and holder of all offices is related to one of the court proceedings...maybe the new guy was court-appointed? But if that were so, then I don't think he'd be allowed to purchase shares in the company (just thinking out loud here).
Yes there are plenty of liabilities, but the market value of the properties still in CBAY's name is still very significant.
Yes, I did notice that he was "terminated" this time, but how? Last we knew, he had complete control of CBAY and was sole director. Did he terminate himself, or has the company been taken over by some other person or entity now with enough power to fire him? It would have been nice of them to tell us in the 8-K precisely who had this authority to fire him and how it came about. As always, so many questions, so few answers!
If this is another trick, I hope it's a good one.
I also wonder if this development was somehow part of a court order or stipulation.
Well, that WAS good news (ding dong), but the last time Pawson resigned it lasted for about a week. At that time Mercer didn't buy 37 million shares either. CBAY's TA doesn't give out the share structure for ANY of their pink sheet companies.
So you're absolutely right, they could be already dumping more shares into the market, or they could be buying, or doing nothing...who knows.
Wow, I see that now, so subtract our new guy's 37 million shares, and we're now NEGATIVE 7 million shares. This is good, right?
As to the MM's, I can never figure them out!
So CBAY was only 58.5 million shares SHORT of the 370 million O/S in volume today...this is good, isn't it? Take out our new CEO's 37 million shares, and we're down to a mere 21.5 million. Is this an indication that people are accumulating/holding and that sooooon .0001 will be all dried up and we'll be ready for a momo?
Yes? No? Meaningless?
Not sure, but it's gonna have to be good, and at this point, I don't care if it's the TRUTH or a TRICK that does it--whatever works is all right by me!
;)
There's only about 78.1 million shares left before today's trading volume will hit the 370 million shares outstanding (if that Form 4 was in fact correct).
Dear Mr. Syed Hasan Rizvi: If you do a really, really good job and get this share price up to .02702 (market cap a MERE $9.997 million), your investment will be worth ONE MILLION DOLLARS! (YES ONE MILLION), so there's your motivation. Now please get busy...you can do it!
;)
If you think about it, if the CBAY market cap is indeed now at $37,000, that represents just one-tenth of the value of just ONE of the approximate 47 (or 53) of those Las Vegas properties, roughly speaking. Despite the mess and confusion and scamminess, it still seems this stock is way undervalued.
When CBAY was reporting there were references to the fact that acquisitions were made through cash and the sale of stock, and I believe that a few were mortgages that CBAY assumed. Then there’s that “Professional Offshore Opportunity Fund" and "Professional Traders Fund” that financed the Utah property ($1,070,972.22) in March, 2006, hardly a “conventional” financing!
Interesting to note (and completely insane) is the fact that "Professional Traders Fund, LLC" received as part of that deal warrants to purchase 347,179 shares of common stock at an exercise price of $.80 and “Professional Offshore Opportunity Fund” received warrants to purchase 446,238 of common stock at an exercise price of $1.20, exercisable until 3/14/2011.
8K 3/20/06:
http://www.secinfo.com/d16P7f.vd.htm#Dates
Yes, but even that Form 4 for 10% didn't have to be reported because CBAY is now pink, and that's why the fact that they filed it at all seems strange to me. Maybe it was done just for "show," but who knows what they're up to. What it showed us is that as of the date of the filing, there were 370 million shares outstanding; that there's a new director, and that this new director now owns 37 millions shares. It sounds good, but is it? Only time will tell!
CBAY didn't obtain conventional financing to buy those properties, so I don't believe the taxes would have been escrowed--that's usually a bank requirement. I think it's very good thing that they're paid. That's all CBAY needs in addition to all the notices of lis pendens on those properties is to have tax liens slapped on. Maybe Roger used the money from selling all of those shares to get things in better shape...but then again, maybe not.
I didn't check all 47 properties, but every one I did check showed that taxes were recently paid (July and August) and current, so hopefully the one you saw is the one and only (and maybe there's a reason for that...like it's about to be sold?).
Dusty, as events have unfolded, I agree that Pawson looks like a scam artist (or he’s just plain stupid). I’m going to just hold on because selling at .0001 is something I refuse to do. It was encouraging to see that the taxes on the Nevada properties have now been paid…the last time I checked, they were delinquent, and you have to admit this new Form 4 is a rather interesting development.
I’m unable to respond to a private message..maybe I’ll become a paid subscriber here if I can sell my CBAY shares for one stinking penny! Actually, mine are up for sale at .012, which would mean the market cap would have to reach only $4.4 million based on the 370 million shares outstanding (that is, if the Form 4 wasn't a lie). ;)
Jbones001: For real estate taxes in Clark County, Nevada:
http://trweb.co.clark.nv.us/
If you’re interested in other counties in Nevada, here’s the link:
http://tax.state.nv.us/property_tax.htm
(I don't have the ability to answer you in a private message).
Another thing I checked this morning was the tax status on the Nevada properties, and it looks like they're now all paid up to date. Maybe, just maybe...things are starting to look up.
And that would place the current market cap at $37,000.00.
But how could they have even accomplished that while most of CBAY's assets are in a legal mess and ALL of its assets frozen, at least temporarily?
It looks like he purchased those shares as Director of CBAY, but the form should have read "Syed Hasan Rizvi, c/o Cal-Bay" under “reporting person.” So who the heck is he? How long has he been a Director? Hasn’t Roger always been the sole Director? Has Roger relinquished his power? Why even file this Form 4? It’s not even required now that we’re pink.
Interesting development...somethin’ must be up.
Unilab was eventually bought out by Quest Diagnostics, which is DGX on the NYSE, and if it's true that Anthony Gouveia was instrumental in bringing all of that about, then I have to hand it to Frank for getting him to come aboard little old pinky JMCP. Thanks for the links...
Wow! You may be onto something! I mean $20 is 100 times more than the 20 cents spent yesterday! There must something BIG on the horizon...
(lol) ;)
Only 23%? That is spooky, especially since you've been at it for a while. It looks like some brave soul was willing to risk 20 cents on CBAY today for 2000 shares...it seems ridiculous, but that's what it says.
Silence has not been golden here...just wondering if there's anyone still around. Has Roger finally shocked us all into silence? It would be my bet that nothing would make him happier than to see everyone just fade away into oblivian. Hey Keymaster, were you successful in selling out?
Go CBAY!
(lol)
It's kinda funny how Frank mentions now and then how he is not a common shareholder in JMCP apparently because he is already wealthy enough. This rich CEO is not even buyin' into his own company at .0001. Apparently he thinks that not joining the ranks of the commoners is a GOOD thing and shareholders should be happy about that. It just cracks me up.
:)
It seems to me that Roger with his dumping of billions of more shares into the market could have raised enough cash to right the CBAY ship if he had ever been serious about building up a business/REIT. The fact that he apparently has not done so and seemingly ignores most of the legal actions against him tells me that he never had that intention. He acquired the real estate portfolio just to entice shareholders to buy, never intending to pay the mortgage notes or even the taxes; he just needed the low-float and those assets temporarily "for show" so that he could sell shares and line his own pockets. I mean what else could he have done with all of the shareholders' money?
I wonder if he will publicly respond to this latest news with a PR full of his usual indignation and denial.