CBA Florida Inc. (fka CBAI)

[up-down]

Senior Secured Note Payable to Shelter Island Opportunity Fund, LLP, effective interest rate of 16% per annum, payable in six monthly installments of $256,067 January 2011 through June 2011

This will be paid with stock, another reason for the need to up the AS

$250,000 / .002 (50% of the pps) = 125M shares (monthly dilution if the pps stays at .004)

The 10k is not due until 3/31/2011 or 4/15/2011 if late

http://www.google.com/search?q=Shelter+Island+Opportunity+Fund