BB's Stock Haven

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CBAY NEWS!!!! After all the OTHER great news lately ( and shorts have kept hammering it ) this seems like a nice little tidbit!

Cal-Bay International Founder Members and Directors Announce Cancellation of 1.5M Shares of Preferred ``A'' Control Shares
Wednesday January 24, 9:01 am ET

CARLSBAD, Calif.--(BUSINESS WIRE)--Cal-Bay International's (OTCBB:CBAY - News) Board of Directors today announced the company's principals and founders have agreed to cancel 1.5M shares of Preferred "A" founder shares. The shares are purely control stock and not intended to be converted and traded. The shares have voting and conversion rights of 50-1 over the company's common stock and are designed to prevent attempts of a hostile takeover of the company's assets.

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Cal-Bay's management commented that in light of the obvious short position of the common tradable shares of the company, the founder members felt it appropriate to reduce the holdings of Preferred "A" shares, when the common stock shareholders were being victimized by the dramatic devaluation of the common tradable shares, as a result of significant short selling on a daily basis.

The cancellation will be effective immediately and represents over 7% of the outstanding Preferred "A" control shares of the company.