Cal-Bay International Inc (CBYI)

[mordicai]

If the new ceo is independent of Pawson, and he did indeed plunk down 330,000 of his own money, a clean shell would certainly be worth that. But cbay is not clean given all the claims, judgments, and potential stockholder claims because of the misdeeds of Pawson. So how does the new ceo clean it up. He waits for an involuntary bankruptcy petition or he files a voluntary petition if he is in fact majority shareholder. Under his bankruptcy plan he has the current classes of stock wiped out, injects some new money, and issues a new class of common for himself. The new ceo already announced his intention to cancel the existing common. He just didn't know how to go about it imho. The shell is what has value to him not the common stock he may have purchased. His common stock just gives him the right via bankruptcy to end up with a clean shell that he owns entirely. Think about it.