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.
Thanks for taking the time, TDS, and I appreciate your take. I’m an investor in a small-float company and the CEO and insiders hold all the cards, but when he wanted to increase the number of A/S, he informed the shareholders and brought it before a vote, and even though everyone knew it would pass anyway, shareholders had an opportunity to participate and/or sell/freak-out. I voted FOR the increase because it was a logical and necessary step to support growth. Plus, this particular CEO is someone whom I trust and someone who is very cognizant of how shareholders view dilution and uses every share sparingly (there are still only about 11 million outstanding), i.e. he CARES about the people who have put their faith in him and their hard-earned money into his company.
When I first ran into CBAY, the O/S count was something like 8 million, and while I appreciate the tremendous growth, my opinion of how Pawson has gone about it, at least as far as his treatment of the shareholders, is way, way over there on the shabby side. As to poor Tim Garlin, well he must be a nervous wreck because it's become apparent to me that Pawson isn't even clueing in the IR guy. Increasing the A/S and dumping shares at will is NORMAL in pinkland, and that’s all just a crap shoot anyway, but this company is NOT in pink sheet land, and increasing the A/S is a BIG deal, so if Pawson seeks to be viewed as a legitimate and trustworthy CEO, then he should hold himself to higher standards, even if NOT REQUIRED to do so.
As I’ve said from the beginning, it’s all about TRUST, and it's a serious lack thereof that seems to be holding CBAY down. I think it's a downright shame that yesterday's great news was so overshawdowed by Pawson's actions.
(all jmho)
TDS, agree, but is there any assurance that Pawson won't increase the number of authorized shares again? If it holds at 500 million, then that's OK with me, but what he did looks slick. It put a huge damper on great news, and investors continue to be wary.
I'm still in BIG, but am not crazy about the fact that Pawson can apparently just increase the number of authorized shares without bringing the matter before the shareholders. Even if insiders have enough votes to pass it, it seems to me that the shareholders should have been made aware of that plan before it became a done deal. Know what I mean?
Hi bubba...Have been watching for a while and just got in this week, and the price doesn't bother me because I'm hoping to add more. I love the products, new plans/new direction, and the potential here.
gabby..hmmm, I see, and yup, time to move up. As the Wicked Witch of the West would say: "All in good time my little pretty, all in good time."
;)
Wow, sounds like it's time for you to move on...good luck!
An increase in the number of authorized shares would require shareholder approval, wouldn't it?
Even if Pawson were to issue the entire 200 million authorized, we'd still be looking at a market cap of only $8.8 million at the current price.
It's just nutty.
;)
One would hope, but so far, news hasn't done much to hold onto any gains, but it does "feel" to me like it's just a matter of time. I mean, the value/asset base just can't be ignored forever...I still think that there are "trust" issues holding CBAY back (among other things).
Wonder if the float is drying up and if CBAY is in a standoff mode now with sellers holding out for their price and longs holding tight...
Thanks Alice. That's excellent information. I do think people are focusing on the share count and that there are "trust"/potential dilution issues making investors nervous, but agree that CBAY stock seems hugely discounted and I continue to add to my position (call me crazy).
Hey, have fun on your fishing trip. Hope you catch THE big one, and I hope CBAY will turn out to be THE big catch in 2007 for all of us patient longs.
Thanks again for taking the time to post your excellent DD here.
Good question and I really don't know...maybe Cal-Bay Construction, Inc.?
There's no doubt CBAY is extremely undervalued, but this most recent dilution in 2007 is looking a little sneaky, making for some wary investors, but I keep on buying (can't help it), feeling guardedly confident and optimistic that it will be worth it down the road...
Pawson trust factor (dilution), usual market games, scaredy-cats, etcetera (imho).
After all this time, Zig has left us long-term shareholders with NOTHING to believe in, and there is not even a hint of anything coming up.
Imagine, a buyout for $3.12 per share before the forward split? Seems like such an obvious scam now, and I will forever be ticked off at myself for trusting him at any point over these last 3-4 years.
Just venting...
Wow, Happy New Year everyone, and congrats to all who KNEW that eventually LOGIC would take over. ;)
OK Gsharon, using your figure, let's do some simple math: 116 million shares X .043 = $4.988 million market cap. Now doesn't that seem rather BIZARRE, even to you?
RJ, I'm here for the long haul, too--would like to see $.95-$1.00+; however, it all depends on what the future brings. If I lose faith in Pawson and decide he could care less about the common shareholders, or if I start to feel he is trying to trick us, then I'd probably just get out as gracefully as possible. I'm not at that point, but let's face it, this has been a very STRANGE trip. Also, some of my lots would show me a 1000% profit at 41 cents, so of course, I would have to consider selling those, but I'm SO NOT into flipping for a few cents profit.
Right now, I'm giving Pawson the benefit of the doubt...
(lol) Smartmoney, for your sake, that would be good, but for my sake I really don't want to buy any more shares. My biggest problem is that when the price dips below .045 or so, they become too hard to resist. Yes, hopefully it will all be worth the wait (and angst).
I feel sorry for Tim Garlin...feel like bringing him some chicken soup (or whiskey) to help him through this.
Well, that's the chance I'm taking--that we'll eventually see the numbers and investors will see how undervalued CBAY is. There are all sorts of filings and PR's to back up the building up of assets and net worth of the company, and Pawson has made some pretty specific, bold statements as far as the share count and buybacks and future plans. Are they all big fat lies? I'm hoping they're not, but I guess only time will tell!
Caveat emptor!
Well, I know I've been buying them cheap and am now holding like 17 times more shares than I ever wanted. Panic selling can be fun (not always), and frankly, I'm not sure what everyone is panicking about. Unless Pawson has been LYING about everything, the numbers eventually should speak for themselves. More often than not, it takes more than a few days or weeks to make the big bucks.
Pawson's credibility is the big issue now, and the late filing may be completely out of his hands, so I'm taking a BIG chance that things will work out. Good luck everyone, no matter what you do.
Unbelievable. eom
Devilindeep, what on earth are you talking about? Cobs "deal is no longer.." (??) The deal was completed last June! Oh, your CapsLock key appears to be stuck.
http://www.highbeam.com/doc/1G1-147046354.html
Using the formula set forth by Pawson on 11/16/06 regarding the outstanding/preferred shares/book value, I'm figuring that CBAY's market cap as of yesterday's close is under $7.2 million...seems crazy doesn't it?
Con, that makes no sense whatsoever when you consider the growth, public information, and disclosures given out by Pawson...
It would be nice and somewhat comforting if Pawson were to buy some common shares, don't ya think? I mean for 4 cents and under, you have to wonder why he hasn't done so.
Despite the growth and anticipated assets and possible dividend and REIT status, the bottom line in these BB companies is always the same...is it a scam? Will the CEO pull the wool over the eyes of the shareholders? Even though you'd think NO company would want to turn pink, no CEO would want to have his company be thought of as a scam, I have learned the hard way that some just don't care!
I am in big (for me) here, and I sure hope that is not the case, but it's obvious from the share price that investors are wary. The fairly regular late filings and turning "E" twice since I've been in CBAY, although understandable (SEC compliance is complex, even more so for small companies), does not bring confident investors to the party. I hope we are right about CBAY and win big. To me, it seems like a NO-BRAINER, but I've felt that way about other companies only to be victimized in one way or another. Only time, responsible management, and the numbers will tell. TRUST that the CEO will protect shareholder value is KEY. Without that, it just becomes a stock for flippers and unfortunately, that's where we are with CBAY. I keep buying, though, taking a chance that Pawson will do us right.
Alice...so it sounds to me like they're not worried in the least and it's business as usual now...the filing must be ready or close to it. Your photos are great, and the fact that Pawson and Sickert met with you is impressive, and it doesn't sound like they were even sweating...were they? (lol)
Thank you so much for taking the time...
December, 2005: "4.3 Authorized Capital After reclassification. The total number of shares which the Corporation is authorized to issue in section 4.2 above is 200,000,000 shares of common stock having a par value of $0.001 per share and 50,000,000 of Class A Preferred Shares having a par value of $0.001 per share with 50-1 voting rights over the common stock and 50-1 conversion rights to common stock. And 500,000,000 shares of Class B preferred Stock having a par value of $0.001 per share with 1-1 voting rights over the common stock and with 1-1 conversion rights to common stock. The Preferred shares are convertible to common stock with the approval of the Board of Directors."
As to your question on why it should move up, that's simple--the current price seems EXTREMELY DISCOUNTED when you consider the GROWTH and equity that's being built up here (imho).
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?FilingID=4059738&Type=HTML
As of yesterday's close, the market cap is about $7.28 million, which seems totally absurd when you consider the equity being built up here. Yes, it all rests on a great 10K, removal of the E, and imho there may be "trust" issues that have built up and may be impacting the stock, and then there are the usual games. The proof will be in the pudding.
FRPT.OB at its high was trading at 18 times book value of $.935. If CBAY were to trade similarly, with an estimated BV of around $.50, that would mean $9.00 per share. Of course, it's all dependent on the right news and momo. But it's fun to think about and CAN happen. In the case of FRPT, that was trading in the $.60 to $.90 range in early 2006 and hit a high of $17.00 this month.
CBAY Bulls and Bears are fighting it out at American Bulls = Indecision...(well, no kidding!)
http://americanbulls.com/StockPage.asp?CompanyTicker=CBAYE&MarketTicker=OTC&TYP=S
(lol) Bleen, I hear ya and think I may fit into that category also, as I keep buying and buying...can't stop! Scaring myself, but not really...if you know what I mean.
Cliches and quotes keeping coming to mind: Are you a man or a mouse? Sink or swim. You snooze, you lose. Behold the turtle, he never makes progress unless he sticks his neck out. It takes a leap of faith.
Must be nervous energy coming out (lol). Wishing all the brave CBAYers the best of luck here, and that includes me.
Thanks, Bleen...I hope they come through, but his comment "prior to being delisted to the pinks" doesn't really make me feel all warm and fuzzy inside.
Early Bird! Maybe our Alice is just getting up. She could just run over there and wake them all up or at least rattle the doors and cause a commotion. (lol) ;)
Oh boy...squeezed out my last pennies this morning to buy more. I'm thinkin' they're barely out of bed in California. Spooky stuff.
Alicedisforme, I'd like to say thank you as well for checking things out and describing your findings here.
(lol) "Santa Baby, so hurry down the chimney tonight.."
Oh, c'mon Zigfraud, you know there's always hope, i.e., what about MONSTER SLAM? According to Zig and Michelle, that's a real blockbuster! And don't forget about the DYNAMIC new team! (lol)
And what about the RECORD REVENUES for 2006? Hmmm. 26 days to go! You can do it! Hey Michelle/Zig, where are those PATENTS? Still can't find the applications at the US Patent & Trade office...
Go MTDN, I mean MOTD, I mean MTDX, I mean SCPT...
I mean, ya gotta laugh!
TDS, thank you very much for your excellent post. Your take makes perfect sense to me, and no matter how poorly the share price has performed, there is no denying the value that is being built up here.
and/or longer still if investors decide to hold for a while rather than endlessly flipping for fractional-penny gains... :)