Our system posted a HOLD today. The previous BUY recommendation was issued on 11.29.2006 (1) day ago, when the stock price was 0.0460. Since then CBAYE has gained 8.26% .
Our advice today is simple and clear. Hold your stocks and wait for a new signal.
Do not bother yourself with further buying and selling as long as the HOLD tag stays.
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posted
CBAY(E) (.0435) Completes $24.5M Acquisition of Residential Lease Property Portfolio in Las Vegas, Nevada Dec 4, 2006 9:01:00 AM Copyright Business Wire 2006
CARLSBAD, Calif.--(BUSINESS WIRE)--
Cal-Bay International, Inc. (OTCBB:CBAY): Cal-Bay International Today Announced The Completion & Close Of Escrow For The $24.5M Residential Rental Property Portfolio Of 54 Homes In Las Vegas, Nevada.
Cal-Bay International's Management today announced the closing of the 54 single family home residential property portfolio acquisition in Las Vegas, Nevada.
The portfolio of single family homes has an appraised value in the region of $24.5M and is currently approximately 91% leased. This adds over $1.1M in reported revenue to Cal-Bays current rental portfolio. The homes are primarily located on the SW side of Las Vegas and are mostly under 5 years old.
Las Vegas residential property values are currently increasing at approximately 10% per annum and the rental/lease markets in the area are very strong.
At the time of closing Cal-Bay has a cash equity position of approximately $1.5M based upon the appraised closing price.
Cal-Bay plans to file an 8-K Statement this week detailing the terms of the acquisition.
Cal-Bay now owns 55 Residential properties in Las Vegas, and is currently in negotiation for an additional major residential development property in Nevada.
Roger Pawson/President & CEO
FORWARD LOOKING SAFE HARBOR STATEMENT: 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.
Source: Cal-Bay International, Inc. __________________
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I'm suprised we're trading at these levels still with todays news. Seems like they are closing a lot of deals and maybe that's what they were waiting on before they release the 10Q. The next couple days should be good with a couple 8k's and the 10Q due any day now! Great pps to accumulate IMO...
-------------------- Success is having the time and money to enjoy all of life's wonders...
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FWIW... I spoke with the company this morning and they stated that they have 30 days from Thanksgiving to file the 10Q before they get delisted (Nov 23-Dec 23). They stated that they will be in compiance and file within the 30 days. The reason for the extension is they did not know they had to file an 8K for every aquisition or significant change in the companies activities. The gentleman I spoke with said that it was unacceptable that they filed late for the second quater in a row but that this time it was out of their control. Also of interest is that the $100 million in their real estate portfolio and $40 million in equity will not be apart of the 10Q ending Sep 30th. Those numbers will not be released until the next Quarterly statement. They might release those numbers as part of a forward looking guidance in this Q, but he could not say for sure. I just wanted to give everyone the correct timeframe for the 10Q and to make sure we know that the latest $$$ in the portfolio released by the CEO in previous PRs will not be reflected in this 10Q. They did state that their portfolio is growing tremendously and that they will file the 8Ks and release updates as appropriate...
-------------------- Success is having the time and money to enjoy all of life's wonders...
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Great last two days with large green movement the scary thing is 10% in a day is gonna be a joke once this thing starts moving. The 10q will prob be out Thursday imo and I expect an explosion, once the e is removed the next trading day it will entice even more investors.
This is a buy and hold situation imo, very rare in the otcbb world but I honestly believe that this is the case.
There are a few things to look forward to:
1.) 10q 2.) removal of the "e" 3.) More huge property amassments 4.) 10k will reveal the deals that have already taken place between the thanksgiving to current not to mention the deals that are in the works. 5.) Once the pps rises they will be qualified to become a fully listed nasdaq stock.
Strong Buy
Good Luck to any Cbayers, next few days should be steller
-------------------- “Money itself isn't lost or made, it's simply transferred from one perception to another."
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As stated the anticipated 10Q due out 12/21. The chart demonstrates that anticipation. Once the 5SMA crosses from under the 10SMA the upward trend should pick up IMO. We shall see.
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On December 4, 2006, the Company issued a news release announcing the Completion & Close Of Escrow For The $24.5M Residential Rental Property Portfolio Of 54 Homes In Las Vegas, Nevada.
The portfolio of single family homes has an appraised value in the region of $24.5M and is currently approximately 91% leased. This adds over $1.1M in reported revenue to Cal-Bays current rental portfolio. The homes are primarily located on the SW side of Las Vegas and are mostly under 5 years old.
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On December 18, 2006, the Company issued a news release announcing the acquisition of 85 Single Family Residence building lots in Port Charlotte, Florida. The 85 lots were purchased from a private development group in Florida. Cal-Bay plans to start the development process in the first quarter of 2007. When fully developed the project is expected to yield $16-20M and generate approximately $4-5M in profit. Cal-Bay plans to use one of its subsidiary companies to develop the property.
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