Cal-Bay International Inc (CBYI)

[Arizona Wolfman]

The following transcribed from the Feb. 16 CC by a poster on the CBAY Yahoo board here:

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_C/forumview?bn=41995

"...He reported that there are 245,780,998 shares outstanding, a significant amount of which is collateral and will be retired once no longer needed (so not traded). Of this some are also Pref A (21,750,000), Pref B (116,034,326), and Pref C (261,358). Pref A are not traded, but have 50:1 voting power (to protect against hostile takeovers) and are owned by 5 insiders in the company. Pref B have 1:1 voting power and are used for collateral as above along with cash for acquisitions. Pref C have 1:1 voting power and were used for Cobb acquisition, which they didn't go forward with, so most will be retired shortly."