Cal-Bay International Inc (CBYI)

[oilspec]

roiresearch - We all knew the Authorized Share count would have to be increased very soon because it was capped at 200M and we were approaching that pretty quickly. The last OS share count I saw was:

Common shares 156,780,998 18,045,993 restricted
Class B 106,034,326
class c 261,358

Now it looks like we're at 186M. The AUTHORIZED share count is meaningless in calculating PPS and even newby investors know this. Your calculation of 0.05 x 500M = 25M is totally irresponsible and I believe you know it! I don't dispute the 186M. Feel free to multiply that by 0.05 and get a $9.3M valuation. I know many shares are being used as collateral against new property acquisitions.

To me, the new large AS probably means it isn't very likely that we would have a reverse split anytime soon. No need.