Cal-Bay International Inc (CBYI)

[coin_in_fountain]

Before I was thinking that Rizvi must be another one of Pawson's puppets, given that he already seems to have played that game before with Mercer. Now I'm not so sure. I think there is a good possibility that Roger "sold him" the top spot at this company, making Rizvi believe it was worth something. It's quite possible that Roger is now long gone, back to his garbage truck and hamburger flipping businesses.

"Just give me $330K for the new CBAY shares I'll create, and you can get rid of the common shareholders for just five bucks, and keep the shell.", Roger might have told him. "If all else fails you can just keep your mouth shut, leave the company inside a thick cloud of pink smoke, and continue to sell shares to anybody that will buy them."

Maybe after forking over his money to Roger, Rizvi learned the hard way that he couldn't just cancel all the common shareholders "out of existence" for five bucks. He may have also learned that dealing with so many creditors is no fun, and just decided to take a hands-off approach, and let the courts settle it. That would also explain why Rizvi has made no PR or other announcements. He realizes there is nothing left to defend, that Roger also took his money. He probably spends his days signing for registered legal letters, and depositing them in his circular file.

The only other reasonable possibility is what you already said, that Rizvi is just another puppet for Pawson, and Pawson is still milking this dead cow. You can speculate as to who is currently collecting money for shares currently being sold. Obviously there are penny traders involved, but could it be that Roger is still in the background, selling as much as he can to get for some spare change? Because this is a pink company, with no reporting requirements, we'll probably never know. As long as the truth is obscured behind pink smoke, there will always be penny traders speculating on a "turn-around". That's just human nature, especially for guys who enjoy watching James Bond flicks, where our hero always manages to find a way out of impossible situations. (I'll never forget the one where he ran across the row of alligators, to avoid being eaten alive.)

http://www.metacafe.com/watch/498932/some_dude_running_across_some_crocs/

Wanna hear another wild theory? Suppose Mordicai works for Roger, and his job is to use a bunch of legal mumbo-jumbo talk to convince investors that this company is really worthless. Then Roger comes in and scoops up the remaining assets, dirt cheap, and gets rich. That could explain why Mordicai stated a long time ago that he doesn't own this stock, yet he continues to give us his opinions frequently.

What do I think the chances are that Mordicai is involved in a scam like that? Not more than one in a million, if that. (But go ahead and trade on it, if it makes you feel better. ) Mordicai's probably not too different than I. CBAY's rise and fall is a fascinating story, one for the textbooks. It's simply too interesting to ignore. Like a good mystery novel.

Opps, almost forgot, for a while there was NO BID on this stock, so that blows any theory that Mordicai works for Pawson.)

(Sorry Mordicai, I didn't mean to poke fun at you. I really enjoy reading your stuff, and I think you're an honest guy. You've certainly dug up enough circumstantial evidence to convince me that this company is completely worthless. I bailed out somewhere in the 9 cents/share area, so unlike some of the other guys on this board, I do appreciate your legal and logical wisdom.)

No matter what wild theory you come up with, there seems to be a common theme to all of them - Roger is an unethical person who could care less about shareholders. He feeds on people's inherent sense of greed, and he does it well.

One thing for sure, Roger sure is one slick cat. Creating new shares as collateral for the acquisition of new property is a cute idea - if you can pull it off. Similar in concept to a stock swap game, but playing with an almost empty hand. To me it looks like Roger's big mistake was buying that fake stonewall note, which upset his razor-thin financial foundation, leading to a serious of unrecoverable events. (I think Mordicai said it best, when he suggested that Pawson may have hit every branch on the tree as he fell down from the top.)