Board regulars, please read this and help me fill in the blanks
CBAY Pros and cons. New posters please read before posting questions/comments that are addressed here.
Back story:
In 2006, CBAY was a seemingly legitimate Real Estate Development company, with a share price over $1.00, and a reasonable share structure (30 million A/S as recently as September 2007). CEO Roger Pawson apparently is a smooth talker, and got some investors to sign on, in exchange for preferred shares. According to one poster, the O/S was only about 500,000 common shares at this time as well.
Over the next year or so, CBAY defaulted on loans, lost properties, dilluted to the full A/S amount, and were subject to numerous lawsuits. At least one poster here is a party to one of the lawsuits, and DD has shown that there are in fact judgements remaining against the company.
Just looking at the charts (someone please privide actual info if you know it), it looks like CBAY hit .0001 around June of 2007.
In September, 2007, volume spiked, the share price rose 500% (to a high of .0006 I think) and numerous form 4s were filed. A mysterious character named Hasan Rivzi claimed on these form 4's to have bought 37million shares on one day (September 5, 2007), which was most of the supposed 40million A/S count. A few days later, the A/S was increased from ___ (someone please help me fill in these numbers) to ____. Following that filing, Rivzi filed a form 4 stating his purchase of 100million shares. Following this filing, the A/S was again increased, this time to ___. Over the next few days, the A/S was increased again, and Rivzi filed form 4s totalling 1.7billion shares purchased, costing a total of ___ (again, someone please remind me of the total $ cost). Rivzi also filed paperwork to name himself CEO, and oust Roger Pawson, since he was suposedly the majority shareholder.
After that, much DD was done, but Rivzi never made himself public, and CBAYs stance was that the form 4s were a hoax, and Rivzi did not exist.
Interest died down as no new information came about.
In March (was it March?) new information appeared on pinksheets.com, where the contact info and comapny name was changed to "Beverly hills Choppers". Interest and trading volume spiked, and for a brief moment, we had a bid. Almost immediately, a PR was issued saying taht the company was planning to do a reverse split. Not surprisingly, interest immediately died again.
After some more time and speculation, a PR was put out saying that the change to Beverly Hills Choppers was posted prematurely, and they were not authorized to announce or enact a reverse split.
Interest again died down.
In August, there was another volume spike due to a PR that the company had secured a contract for a storage facility for a beverage company. The thinking among buyers was that the stock was becoming active again, and it could get bid and some kind of run.
In September, another PR was issued, touting a second contract with a vehicle hybridization company. Interest spiked again, and we briefly had a bid. No more news came out though, and yet again, interest faded.
Around that time, a poster named investinginstockmarket appeared, saying that he was the new PR person for CBAY. Since then he has alerted us to many events, and in each case (if he's missed one, please remind me, I want this to be totally accurate) his heads-up ended up coming to pass.
He hinted at the new contracts, update to the website, payments of debt for Nevada SOS, and updates to pinksheets (what else was there that I am forgetting?).
There were 8 MMs on the ask as recently as the middle of December, and Friday January 2nd we closed the day with just 1 (is that correct?). The following Monday, there were some pre-market trades, and the bid/ask went to .0001/.0002 before the market opened. Once the market opened, a couple of MMs appeared, most notable BMAS (who many suspect has the majority of the shares that are for sale at .0001). We have had 3 or 4 MMs on the bid since then.
Recent items of interest are:
1) payment of a $6,000+ debt to the Nevada SOS that got CBAY back to good standing.
2) The removal of the "Pinksheets is unable to contact the issuer" from pinksheets
3) PRs of two contracts (beverage company and hybridization company)
4) Update of website
5) Goofy Youtube video of b-list (or worse?) celebs saying "Go Green, go CBAY!"
6) The increase of the A/S count from 8billion to 12billion
Here are the arguments from each side, to the best of my recollection and ability, open to additions and deletions for things that I screwed up.
"Don't buy, this is a total POS and you will never be able to sell, thus losing 100% of your investment"
1) Look at the share price, there is NO BID
2) 12 billion share A/S? C'mon, how could that ever move?
3) This was trading over a dollar a few years ago, you trust the same CEO that lost 99.999% of the share price?!?!?
4) So there's some interest again. Haven't we seen this before? Interest piqued, volume pours in, bid may appear briefly, sucking in new bagholders, then volume dies and we repeat the process again.
5) There is no contact info for the company, how could you get a hold of them?
6) A/S and O/S have still not been updated on pinksheets
7) 4BILLION shares were just added to the A/S, and could be just sitting there waiting to be diluted.
"Buy, buy, buy! You will make ungodly returns on your investment!" arguments:
1) Recent disappearance of half of the MMs on the ask
2) Recent volume spikes
3) Payment to Nevada SOS
4) Update to pinksheets
5) PRs about contracts
6) Update to previous dead website
7) Goofy Youtube video of b-list (or worse?) celebs saying "Go Green, go CBAY!"
8) More updates to pinksheets and PRs, according to IR person
9) The fact that Roger Pawson is supposedly a smooth talker, and could actually get assets for CBAY, and short of that, at least get a run for the stock price to sell shares at a higher price. Many don't think he would go to all this effort to sell at .0001, when he could have done a R/S and sold shares long ago.
10) The A/S was only increased to allow Roger to give restricted shares of CBAY to make acquisitions, and those shares won't be added to the O/S until they are freely tradable.
Okay guys, that's my draft. I'm tired of writing...Please respond to this and help me fix anything that's inaccurate or incomplete. Let's see if we can knock this out in the next day or two so we have something to "pin" soon so if we actually get some volume (I mean more than the 0 shares tha have traded so far today...) there is something for new people to read.
AI
