Isn't there still a lawsuit concerning the Las Vegas properties? What do you people think that is all about? Its about CBAY not paying the Seller what was promised. The payments could have been made by CBAY, but more likely the payments were made by the seller to protect his/its position. The Seller has every reason to pay the property taxes so the county doesn't sell the properties on the court house steps for non payment of taxes while the Seller sues to get title back. If not the Seller, it could be a mortgage holder protecting his/her/its position. Moreover, the fact that cbay owns real estate is not the issue....the issue is what equity is left in any of the real estate cbay owns. The deficiency judgment obtained against CBAy in Florida for 1.5 million dollars will be recorded in clark county nevada, and constitute a lien against all of those properties. The deficiency judgment will also be filed in utah and california, if cbay still owns those properties and constitute a lien against those properties. Where is the equity people? Cbays assets are currently frozen by court order.
What amazes me about the postings on here is that some of you think the first filing by the "new ceo" lied about the existing number of shares yet he is telling the truth in his 2 billion purchases filings. That is a very dangerous assumption imho.
Why would anyone buy CBAY as a shell. It has not gone through bankruptcy to clear it of all the claims outstanding. It has the 1.5 million deficiency judgment against it, and some 800,000 in the case which got the assets frozen. In addition, Pawson lied on the financials about the Stonewall note...he booked it as a 14.5 million dollar receivable and recognized 6 million in income on cbay financials when in fact the Stonewall note had already been declared invalid and worthless by two prior courts. The bankruptcy court in January also ruled it worthless. Such bookkeeping is a clear violation of Rule 10 b 5 because it is a material mistatement. So any buyer of the shell has to contend with fraud claims asserted in the future by any of the tons of shareholders that were defrauded as a result. Oh and the accountant ran.
I posted in the past, that the only people who might be interested in buying cbay stock are the people who own the good Stonewall note who keep on having to defend the lawsuit cbay filed in california after losing the bankruptcy case in January. It is probably cheaper for them to buy cbay up at .ooo2 than to pay lawyers at $300 an hour to defend this ridiculous case.
Now given all the crap Pawson pulled on all the transactions, why would he relinquish his control to anyone? So he can be sued by those he relinquished control to? Look at Hisc. The current management of hisc relinquished control of evans, and are now being sued by evans. So this new ceo is a pawn of Pawson imho, and this is just a rinse and repeat of Pawson dumping more shares into the market to the newbies.
Examine the charlotte property fiasco. Cbay had to have put down 400,000 because the note that was assumed was paid down by that much under the assumption agreement. After it was assummed, cbay did not make one payment on the assumed note. The charlotte property lost value a few years back when Fema ruled it to be in its flood zone. Now cbay has a 1.5 million dollar deficiency judgment against it. A 2 million dollar disaster for cbay. But what about the seller of that property? It was RPC Investments. RP...hmmm who has those initials. Then the 2 million or so paid for the worthless Stonewall note.... hmmm. And there was a Utah connection on that. And lets see some outsider said he had authority to assign the stonewall note who had no connection to the corporation that owned it...and now we have someone who says he is the new ceo.... Rinse and Repeat. You guys are bagholders...you just haven't realized it yet. This stock was brought down because of the due diligence done by me and others on this board in months past which exposed pawsons lies.
AI
