I agree, but why bother to do an R/M if you already control the company. It appears that he's turning the company into a viable one again. All he would need to do is a name change to Lenox, and bang it's done. NO need to do an R/M unless Lenox has assets the CBAY can acquire...
Good point.
"if they don't have assets, buying control of the CBAY shell for 300k is a steal. You have to remember with the home lender crisis hitting the market, things like CBAY on the pinks get crushed down way past their actual value.
I'm in the real estate biz, and know how bad it is. I've watched builder after builder close shop, and the one I work for has the best chance of survivability, but is hard press to keep going. Knowing that people jumped into this business, when it was booming, that had little or know experience to be successful in it. They could get away with poor professionalism in the beginning because of the great demand. Maybe Pawson thought he could do the same, but didn't understand either end of the business, and bailed. Real estate is in a bad way for traditionalists, but there is a great deal of money still to be had if you think outside the box.
In any case it's all golden imo.
News 
Market Data 
Discover 
