Cal-Bay International Inc (CBYI)

[PennyMaven]

Shorts are in trouble...

Company management today commented after a diligent review of the NOBO list (notice of beneficial ownership) dated October 13, 2006: "We feel there is a significant short position in the common tradable shares, which may be influenced by a position held overseas. The regulations for shorting against stock outside of the USA are generally more relaxed and the requirements to cover against a short position are often less stringent." Management further commented, "We are also investigating the probability of short-selling against the Preferred 'B' shares."