Cal-Bay International Inc (CBYI)

[keymaster]

Shinoki, ...I can see you are keeping an open mind and that is the way to ultimately arrive at the facts. Make no mistake about it; roger was a very shrewd con man. He got me, he got others, and it is possible he got Rizvi. I did lots of research before I dealt with him. Where I got burned was that I assumed ALL of his filings as fact and accurate. I didn't think it was possible for a public company to lie and/or trick the SEC. I put credence into his PRs - that was another mistake. When he did things that seemed unusual, I made excuses for the company. The guy was really smart, although misguided.

I believe that IF roger is really completely out and a new CEO (Rizvi) is in and in control, that the new CEO obtained this company through a combination of his own greed and roger's evil craftiness. Rizvi probably thought there were some assets (because of roger's misleading filings and PRs). Likewise, he wrongly estimated the amount of shares ($$$) it would require to own the company - this error again facilitated by rogers sneakiness. Thus Rizvi thought he was getting the proverbial, "something for nothing" - millions in assets for pennies on the dollar. By the time he realized he got a shell with more problems than value, he already had $330k into it.

Now you know that at this time I don't believe this is what happened, but I am just saying that if roger is out and Rizvi in that is what likely happened. I don't buy that, "tax write-off excuse" either. It costs more to buy CBAY than the write-off he'd get. The bottom line is that if you believe that we have a real new CEO (not roger), then this CEO is now stuck with Cal-Bay.

Maybe the delay of news is due to him pondering whether to accept his loss or to find a way of getting this company into the black. If he decides to get it into the black, he will need to confirm the share structure (to himself and publicly) and to begin to bring assets (from his investments) into the company. Higher pps means he can buy more properties for CBAY portfolio. This means new investors, and that means it is essential to be as transparent as possible to attract those real investors.

On the other hand, upon discovering the extent of CBAY's legal troubles and lack of any net assets, he may just decide it is not worth sinking any more of his own money into the company. If he wanted a shell, I would think he would choose to turn the company around as mentioned above. If on the other hand, he wanted to make a quick buck, he would likely play some of the same games that roger did with phony or inaccurate filings and/or PRs, proxy traders, etc. Now, ask yourself which of these things you see happening, and then you may be able to formulate an idea of what is going on with CBAY.