"The shareholder of record is the person named on the company's books as owning one or more shares of that company's stock. Dividends or any other distributions made by the company are only made to the shareholder of record. The shareholder of record should not be confused with the beneficial owner of shares. The beneficial owner receives the benefits of stock ownership without being the shareholder of record. A beneficial owner may create a shareholder of record (often a child or other family member or a corporation) for tax or other purposes. Brokerage houses often keep shares in a "street name" rather than the name of the shareholder of record in order to facilitate future transactions. A shareholder of record may also be called a holder or owner of record."

That would explain the dramatic decrease in the number of common shareholders from about 2400 to 169 in a short period of time, wouldn't it?

bigedwood, you mean $2 million? ($2 million?). (lol)

It IS quite unbelievable. The assets are all of record. They are real.

Someone picked up 1 million today...interesting. CBAY is SO MUCH FUN!

I agree with you...it will save the company money and time and should eliminate much of the drama! I just hope Pawson keeps us informed as to what is going on with the company.

Sorry, Dusty...show me something to explain how I am somehow a "shareholder" but not a "shareholder of record."

And I understand the filing. CBAY is voluntarily delisting its common stock, and they are allowed to do so if there are less than 300 shareholders; CBAY is listing only 169. What precisely am I not understanding?

All of my shares are held in a brokerage account, so I am certainly a "shareholder of record." Whatever you're talking about is beyond me.

(I'm not stupid, ya know).

Well, the filing was clear: 169 shareholders. Yes, I agree that's a drastic decrease, but maybe it's an indication that much of the riff-raff has already been eliminated, and to me, that's a good thing!

Well we DO know that Pawson has publicly expressed frustration at what's been going on with the share price, and with this tight little shareholder count now, it came to me in the middle of the night that maybe things are about to turn around for us CBAYers. Depending on what Pawson is doing, it may not take years...I mean CBAY closed at under one cent! So you're 1 of 169 as well (that makes 2 of us). See how special you are? (lol)

The delisting pertains to common shares, so where on earth are you coming up with 600 million? Do you have evidence that you can present to back up your statement?

If there are only 169 shareholders of record, that can only be a good thing. How hard would it be for 169 investors to hold out for their prices? Who knows what kind of big player or players have been buying up shares at these cheap prices to bring the shareholder count down to this level? Eureka! I think I like being 1 of only 169.

Bigedwood, no, this filing wouldn't cancel out any preferred shares.

bigedwood, I believe it will still be trading on the pinks and, in fact, now I am wondering if this move could serve to stabilize the share price. In addition to saving time and money, maybe Pawson is trying to get rid of the flippers/shorts/whatever it is that is keeping this share price down...plus, look at all the drama that takes place when they're late in filing or if anyone hiccups.

There's no denying the assets that are held by CBAY and I guess it comes down to whether or not you believe that Pawson is trying to build up a serious company (maybe a REIT at some point), or if CBAY is nothing but a scam.

I'm just going to hold and give Pawson the benefit of the doubt, at least for now.

I was surprised, too, at the shareholder count of 169. I tend to think this will prove to be a good move down the road because it will allow them time to concentrate on building on the company's assets and save them significant cash. SEC compliance is an expensive, time-consuming, extremely complex pain in the butt as it is, but so much more so for these small companies.

Looks to me like CBAY is voluntarily delisting its common stock and will be going private/pink, and that means they will no longer be obligated to file reports with the SEC. From what I understand, companies can do this when there are less than 300 shareholders (the form states there are only 169). Maybe they're taking this step because compliance has become too heavy a burden of time and expense for such a small company.

The good thing is that company will be saving money and time and won't have the SEC breathing down its neck. The bad thing is that we could be kept more in the dark than we are now. An explanatory PR out of the company would be a very welcome thing at this point. This move could be good for serious, long-term investors?

At least that's how I'm reading things. Does anyone have any other thoughts?

Are you joshing with us, bigedwood?

Maybe the SEC will get Zig after all. Look at this from Cyberkey. The WORST of all the fradulent PRs from Zig surrounded the "buyout" for $3.12/share, but there are SO many others. Many former/current shareholders have already notified the SEC of Zig's trickery, and it's good to see the SEC moving on this similar scam. One can only hope that Zig is on their list and that we'll eventually see some justice, i.e., ZZ should be behind bars. Maybe the SEC/FBI is already investigating. It's a slow process.

I mean, ya have to wonder why Sports Concepts departed so abruptly after everything seemed so peachy keen...

http://www.investorshub.com/boards/read_msg.asp?message_id=18383342

If the website is down, then wouldn't that explain the email problem? Do you think they just packed up and skipped town? I mean, give them some time to do what they need to do! Hey Joey, how about a nice glass of wine...relax!

;)

When you truly think about what Pawson is trying to do here, then FOUR months is pretty much nothing in the grand scheme. Of course, if you're a day trader/flipper, then four months is a lifetime. CBAY has built up quite a valuable real estate portfolio and will eventually develop/profit from those assets, at least that's the general plan.

These things take time, ya know? People keep selling for whatever reason at these crazy prices. To me, there is TRUE value behind this company and as frustrating as it's been, I hope that my patience will pay off (I've been in since last May--so how brave/dumb am I?).

You never know about these BB companies, but I'm hoping that Pawson does us right, i.e., no more tricks like increasing the number of authorized shares (which I thought was rather sneaky).

;)

I understand, Joey, but it's just a tiny company so you can't expect blue-chip treatment. CBAY is still way undervalued, and that's what keeps it interesting, so while the company tries to get its act together, I say let them panic!

;)

But Joey, Tim informed the shareholders what was going on through through an email he sent to someone here...no need to panic! They're just doing what they said they'd do.

;)

We knew that they were moving and revamping their website and if that makes people sell, then that's their problem! Sometimes ya gotta let companies BREATHE and do what they've gotta do. I mean they may have more important things to do rather than constantly holding shareholders' hands...ya know?

;)

Agree. I'm not so much a TA person, but confirmation of a triple bottom is indeed comforting, and it seems to me that eventually simple LOGIC should take over.

When all the flippers sell out, we should be back on the rise, as CBAY still has a long, long way to go from here, in my humble opinion.

Agree, and my rough estimate totally leaves out the Stonewall note too. I'm just going to hold on and look forward to the day when CBAY starts trading in REAL, WHOLE pennies as opposed to fractions (the good old days). Imagine! Now THAT would be worthy of a huge party!

Today's chart is a thing of beauty...

I think it may be closer to $28 million (7-8 cents) for BV, but still stocks usually trade several times their book value, depending on various factors...We'll know soon enough when we see the numbers.

Even at .0181, CBAY's market cap (counting all OS, all classes, restricted or not), is $6.97 million--still absurdly low when you consider the property portfolio...

What a great day for CBAYers--hoping this is only the beginning.

Chucka, I've added you as an assistant, so I think that allows you to add information to the IBOX and do just about everything else, but I don't believe that I have anything in there that is "incorrect" as you have insinuated. As far as DD, this is a PINK, so there's very little information out there.

I am not a paid subscriber to IHUB, so I couldn't reply to your private message. Good luck! Meanwhile, I will try to figure out how I can "resign" as moderator...

TMICLOV, thank you very much for posting that excellent report--I watched the whole thing. CBAY has been on the Reg SHO list a few times. There are slimeballs all over the place and I wish more of them would get caught. It's such a widespread mess, and the Feds need to do a much better job.

A lot has happened since last April. I think it's safe to assume that the assets are legit, since the real estate acquisitions are all of PUBLIC record, listing CBAY as as the record owner!

The Stonewall note is supposedly being reviewed by another court, but I've dismissed that from my equation.

We don't have the latest figures yet, but CBAY has amassed quite a real estate portfolio, and even this fully-diluted $13 million cap is STILL quite nutty, don't ya think?

Well, it depends on how you look at it. It's good if you're buying, but bad for those who are looking at losses. I have some at much higher prices, but have been buying like crazy at these subpenny levels with the hopes that it will pay off down the road.

Bottom line: CBAY seems undervalued to the EXTREME, and I'm betting that the stock will eventually be fairly valued by the market. Of course, it's all up to Pawson.

Market cap is now about $2.08 million, counting all outstanding common shares; market cap is about $3.25 million, counting ALL classes of shares, restricted or not.

Tell me this isn't nutty.

;)

Chucka, I wouldn't mind if someone took over as moderator as I am OUT of this stock once and for all, but still feel that Zig should be serving time for the DOWNRIGHT FRAUD he committed as he threw out PR after PR of LIES for years! As moderator, you have an option to DELETE any posts you wish, and because you seem rather optimistic about this pink scam, I am worried that you might start deleting posts that may sound negative, but are in fact the TRUTH...there are several posters here who KNOW the history of this company and have good reasons behind their negative sentiment, and they should be allowed to speak.

So, I dunno. Will you be a fair moderator? If so, then be my guest; if not, then is there anybody out there who wants to take over?

P.S. Thanks again, Zig...you got me good!

Oops, looks like somebody lost his mojo!

Yippee for green.

;)

Well then, maybe ya'll need to move on...no point in sticking around here just to keep reminding everyone that CBAY has been in a pretty consistent downtrend because (ta-da) WE ALREADY KNOW!

(lol)

Well, just the other day CBAY was up over 46% (fact, not opinion), so what's your point?

;)

This reminds me of the AP "article" found on Yahoo that claimed Re-Max was going to buy CBAY for something like $5.32/share...

...yeah, like Pawson would make such a statement, "Our investors are rich, rich I say!" No one files for bankruptcy in the Supreme Court. That article is just pathetic/laughable. It's the wild west out there in message board land...the First Amendment gone awry!

1/22/07 PR: "Cal-Bay International currently owns approximately $100M in real estate assets, with a retained equity (book) value of approximately $40M. An additional $60M in acquisitions are currently pending in escrow or in contract.."

Pawson told us that the Stonewall issue was being reviewed by another court, and I suppose that could be a big fat lie, but that's what he said. One can only hope that the potential foreclosure issue will be resolved soon and the lis pendens released.

Still, the company has plenty of assets and solid monthly revenue coming in, but we're basically in the dark as to the true numbers until the next filing.

Based on that $40 million in net equity, I come up with $.166 per outstanding share (245,780,998), and if you include all classes of the preferred shares (for a total 383,826,677), then that brings it down to $.106 per share.

As of yesterday's close CBAY's market cap, counting all classes of shares was $4.9 million; counting just the oustanding, a shabby $3.195 million.

Time for some good news here--something BIG that will energize the share price for more than just a minute...

Wallstreet, sending you my best wishes, too. It sounds painful, so I hope they don't get stingy with the fun drugs! ;) May you have a speedy recovery...