Cal-Bay International Inc (CBYI)

[keymaster]

A 47-year-old mobile home may not be worth much, but assuming it was paid for with real money and not with stock or promises, and assuming the tenant is paying rent, that should be at least enough to cover taxes on the land and pay some of the utilities at the cal-bay office. With land worth about $90k an acre in the area, the land under the home should be worth almost $13,000.

I don't think it's the actual value of the property, or the profitability of the property that is important. What is important is whether or not this represents a show of commitment to acquiring asset value going forward. If it does represent a show of commitment, I expect it to be followed in the next few weeks with more purchases. You have to start someplace. Remember, stock price is all about perception as opposed to reality. Would I invest money in shares of this company at the present time? No, but for those who already hold shares, this could be cause for faint hope.