Replies to post #17179 on Cal-Bay International Inc (CBYI)

[nennwert]

got a question about Form 4. This form has to be filled in case of a change in ownership. This form is only applicable if the change is 10% or more.
Does this mean Cbay can be split into several ownerships, each less than 10%, without reporting to SEC?

nennwert

[Alyssa]

CBAY didn't obtain conventional financing to buy those properties, so I don't believe the taxes would have been escrowed--that's usually a bank requirement. I think it's very good thing that they're paid. That's all CBAY needs in addition to all the notices of lis pendens on those properties is to have tax liens slapped on. Maybe Roger used the money from selling all of those shares to get things in better shape...but then again, maybe not.

I didn't check all 47 properties, but every one I did check showed that taxes were recently paid (July and August) and current, so hopefully the one you saw is the one and only (and maybe there's a reason for that...like it's about to be sold?).