Replies to post #125172 on Cal-Bay International Inc (CBYI)

[janice shell]

So why would the board approve his conversion for he is on longer in charge?

What board? Pawson's the only board member.

[jackg152004]

Agreed. Sounds to me like these shares are likely going to be cancelled and returned to the treasury.

Also, even if they aren't cancelled there isn't enough room in the A/S for him to convert and sell more than 300M.

Like I said though, I believe all, or at least a good portion of, previous management's shares will be cancelled.