That Cal-Bay USA is a SUBSIDARY (not a spin off ) to accomodate the US business, and Cal-Bay International will handle the overseas (international) business its more appropriate in name : Cal-Bay USA = USA & North American Business Cal-Bay Intl = International Business.....
Cal-Bay International shareholders will hold stock in both companies at no extra cost, Cal-Bay Intl, is still the parent company, there is no transfer of assets..........
I hope this helps some investors understand yesterday pr better,