pardon me if a complain a little.
Is the pps ripping yet? No.
Why is that? Let me take a stab at that.
IT TOOK ONE WEEK TO WRITE THIS...
Item 8.01 Other events
On December 4, 2006, the Company issued a news release announcing the Completion & Close Of Escrow For The $24.5M Residential Rental Property Portfolio Of 54 Homes In Las Vegas, Nevada.
The portfolio of single family homes has an appraised value in the region of $24.5M and is currently approximately 91% leased. This adds over $1.1M in reported revenue to Cal-Bays current rental portfolio. The homes are primarily located on the SW side of Las Vegas and are mostly under 5 years old.
See the attached press release( Exhbit 99.1 for further information).
A copy of the press release is attached as exhibit 99.1.
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Here's what was stated in the 11/28 PR
"... the regulations require that any publicly traded reporting company must file an audited 8K statement when acquiring any real estate asset ..."
No auditor siggy
No details on the actual total amount paid or how they paid, (company cash, borrow cash, or shares) The appraised valve is useless imo. Did we get a deal or did we pay market value?
Does anyone else feel this way? The pps is telling us new money is not interested in CBAYE.
AI
