Cal-Bay International Inc (CBYI)

[coin_in_fountain]

That's good info. Of course there is a lot we don't know. Roger had a habit of paying for property with stock, mortgages, and whatever else he could negotiate. It's great that you have a sales price, and the mortgage was less than the sales price, so that looks good. But without more details about the property acquisition we're still left to guess.

I'm going to assume they made $125K on the deal, but I'm also going to assume they used to proceeds to keep the company going and/or pay salaries. In other words, any proceeds have probably already been spent. If this company's assets exceeded their liabilities, Roger is the first one who would be telling us.

One thing you can say for sure, in terms of the property and employment situation - this company has shrunk considerably. Roger must have some motivation for keeping it alive. He either thinks he can win that stonewall lawsuit, or he's just squeezing the last few dollars out of this company for his own personal benefit. He seems motivated not to tell shareholders about the company's liabilities, so they must be terrible.