Cal-Bay International Inc (CBYI)

[PennyMaven]

Roger's $100 million explained....

"The Company's quarterly report to be published next week will reflect the Corporations assets are now in excess of $100M, and the equity position now held against the assets is in excess of $41M."

Indeed Roger is correct, the 10Q just filed shows the assets are now in excess of $100m.

In the Forward Looking Estimates he lists the market value of the real estate holdings to be $75 million.

So take Current Assets of $19.4 million, plus COBS $6.7 million, plus Mkt Value $75 million = $101.1 million.

The $41m equity statement would imply that the Current Liabilities are now $60 million, leaving you with equity of $41 million.

Roll the clock forward to Dec 31 where we have more acquisitons since Dec 1, minus COBS, and we'll still have assets greater than $100 million and an equity value closer to $50 million divided by 118 million shares o/s = 42 cents per share.

Next we need to understand the details of the COBS separation.

Then we need to see the 10k.

All in good time my friends, but today was an excellent step forward, and based on today's action people are starting to get it.

As the PR's come out to give us more insight we should work our way up to 20 or 30 cents per share in the next 3 months. Where else are you going to get that kind of return?