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Press Release Source: Cal-Bay International, Inc.
Cal-Bay International, Inc. to Acquire California-Based COBS Homes LLC Friday April 21, 10:16 am ET
CARLSBAD, Calif.--(BUSINESS WIRE)--April 21, 2006--The Board of Directors of Carlsbad, CA-based Cal-Bay International, Inc. (OTCBB:CBAY - News) today announced the Company signed a Letter of Intent for the purchase of California-based COBS Homes, a premier online homebuilder support services company. ADVERTISEMENT
Cal-Bay International's President Roger Pawson announced the news after the Board of Directors confirmed the company had entered into an LOI for the purchase of COBS as a wholly owned subsidiary of Cal-Bay.
COBS (Complete Owner-Builder Services) was founded to help people through the process of building their own homes. The company has developed an A B C program to help with finance, real estate, and construction decisions. COBS provides services to help you with construction loans, home plans, building lots, building materials, construction budgeting, and the entire process of building a home. COBS was founded by President Rob Mackle in 2000 and has had consistent growth and success in the online Owner-Builder Services arena. COBS' annual revenues are currently in excess of $5M per year and through the Cal-Bay alliance COBS has plans for major growth and expansion. COBS has business partnerships with several major nationwide hardware chains; COBS' revenues for 2004/2005 are reported to be in the region of $5M per year. COBS has assisted with the building of over 6,000 homes since inception. www.cobshomes.com
Cal-Bay's President further added upon successful completion of the acquisition COBS would relocate to Cal-Bay Corporate Offices in Carlsbad, California, bringing the total number of employees at the corporate location to 40 people.
Pawson further commented, "We are delighted to have the opportunity to expand the horizons for both companies by way of the acquisition, many joint venture projects are available within the internal operations of the companies, and Cal-Bay will make available the resources to the COBS subsidiary to expand their operations and marketing needs to further grow the company, resulting in maximized market awareness, expanded corporate sponsorship, increased revenues and profitability. The combined revenues for Cal-Bay and COBS, based upon Cal-Bay's current Property Portfolio and COBS' current revenues, will equate to almost $10M per year."
The final terms of the acquisition will remain confidential at this time due to the terms of the NDA (non-disclosure agreement). The anticipated closing date for the companies is expected to be no later than May 15, 2006.
To the extent that this release discusses any expectations concerning future plans, financial results or performance, such statements are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management's belief and expectations based upon presently available information. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties.
The Company assumes no obligation to update any of the forward-looking statements in this release.
Contact: Cal-Bay International, Inc. Public Relations Department: Steven Knoller, (760) 930-0100 Fax: (760) 930-0200 IR*calbayinternational.com www.calbayinternational.com
-------------------------------------------------------------------------------- Source: Cal-Bay International, Inc.
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion*
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Giving out CASH dividends making more and more acquisitions...these are things sucessful companies do. Not shells and companies that are in debt.
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion*
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SuperSniper... I love you man... It's nice to see someone who has good taste in stocks...
Todays pr should have set the record straight... they have cash! they are setting up the perfect equation for more and more revenues and higher and higher dividends... and higher and higher stock prices...
No fuggin' brainer...
You don't buy, you're going to miss out... plain and simple...
quote:Originally posted by SuperSniper00: why is nobody talking about this one?!!
cuz we're patient. all the other boards that are overly active over the weekend are teeming with people that can't wait till the market opens and they're itching in their chairs for their runs. plus, there's a ton more followers of the other stocks since they've already been running, so there's a lot more love on those.
but i don't mind the quiet here for now... it'll be fun to see all the people come flooding to this late once we're makin' our big runs.
give it time.. this thing will be the top post of the board once people start to realize its potential.
-------------------- Hindsight is 20:1. It's like printing money.
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Hi everyone. A very new member on allstocks. Just gambling with a portion of my portfolio on otcbb s and pinks. Looking at cbay. I am wondering what in the charts looks good. Seems on my charting the indicators look pretty flat and the volume is up on negative days. What indicators are you using? I have seen charts on here but do not know how to post them as yet.
-------------------- Pull on your boots,Slap on your hat, Relax, and Enjoy the ride.
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i never use those chart indicators... cbay is paying a div and in the pink world it's easy for mm's to keep price down to pick up shares... this stock is worth way above recent prices... notice there's no imo behind that... it's just the facts... riding on over 15,000 shares at this point, tried to pick up more on fri but had too much money tied up else where... glty...
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the chart looks good anyways. from where im standing it looks like a nice bull pullback to me, disagreements? I am a little inebriated off of red wine.
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GREEN! Hold on for a couple weeks... I might hang on to most of my shares for the next divi release, although I wouldn't expect everyone to hang on that long...
Won't surprise me if it hits .40 within the week... might be shooting the moon, but its got potential to get there...
I'll be surprised however if we see a single red day all week... make that two weeks... that's a strong statement but the shareholders in at this point won't sell until the next earnings release imho...
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