Cal-Bay International Statement of Clarification of Issued and Outstanding Common and Preferred B Shares as of November 16, 2006
Thursday November 16, 1:19 pm ET
CARLSBAD, Calif.--(BUSINESS WIRE)--Cal-Bay International, Inc. (OTCBB: CBAY - News) Cal-Bay President & CEO Clarification Statement of Issued & Outstanding Shares of Cal-Bay International, Inc.
Cal-Bay Issued & Outstanding Common & Preferred B Shares as of November 16th, 2006:
Common Shares: 78,230,998 With approximately 3,500,000
awaiting cancellation.
Class B Shares: 103,830,716 With approximately 6,000,000
shares awaiting cancellation
President's Comment: "There seems to be a rumor that the issued and outstanding shares are significantly higher than the accurate numbers reflected herein; therefore, this statement clarifies the actual outstanding shares reported by the Company's Transfer Agent as of today. Cal-Bay's market capitalization of the combined common shares and Preferred B shares based on the current stock price of $0.052 per share is approximately $9.5M. The Company's quarterly report to be published next week will reflect the Corporations assets are now in excess of $100M, and the equity position now held against the assets is in excess of $41M. This number is most cases would be the basis of the formula to determine the book value of the stock, and typically most company's stock trades at a multiple of book value. I hope this statement will assist clearly the long-term investors of Cal-Bay International."
Roger Pawson
President & CEO
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