Why this could see a nice bounce....
Their in default to their former CEO and major shareholder and two other former owners and major shareholders. If these major shareholders don't work with the company they won't see any of their money or stock. Catch my drift!
TEMPE, Ariz., Jan. 12, 2007 (PRIME NEWSWIRE) -- Clear Choice Financial, Inc. (``Clear Choice'') (OTC BB:CLRC.OB - News), a Nevada corporation, announced that it is insolvent and in default on numerous obligations. Clear Choice has officially closed the mortgage lending offices of its wholly owned subsidiary, Bay Capital, located in Owings Mills, Maryland and Irvine, California. Out of an original workforce of over 150 people, 120 have been released. The Company is in default of its lease of its corporate headquarters located in Tempe, Arizona and has been locked out of its facility and is in default of a note with its former CEO and major shareholder Stephen G. Luke, and is in default of a note due to the two former owners of Bay Capital, Inc. Its operating company, Bay Capital, has been forced to shut down various warehouse lines of credit
