posted
CEO buys another 700,000,000 shares and increases the A/S count to 6 billion. I think he's trying to get the price to drop to buy more. He can then buy out the company for a cheaper price. He would never dilute his own position after spending almost $1million of his own money to buy stock. I see this as a scare tactic. I'm not selling.
IP: Logged |
posted
Ok,...I've been just reading throughout the day, and I gotta get in on this...
I would love to know what this guy has up his sleeve. Nothing that he's doing makes any sense to me. I haven't bought, just following for now, but I would love to know what this CEO is planning.
With any luck, we'll all find out in the next day or so.
-------------------- ~You aren't wealthy until you have something money can't buy.~
IP: Logged |
quote:Originally posted by invester: CEO buys another 700,000,000 shares and increases the A/S count to 6 billion. I think he's trying to get the price to drop to buy more. He can then buy out the company for a cheaper price.
See,...to me this doesn't make sense,...
I'm not saying that this isn't the plan invester, but I'm simply not 'getting the logic' in it if that's his plan,.....
'To me',....raising it would only mean that he would have to 'buy more', and therefore spend more.......
Yes,...he would be getting it at a cheaper price,... but in the long run, he'd have to buy more and it may equal out....
I don't know,...Something's just odd.
-------------------- ~You aren't wealthy until you have something money can't buy.~
IP: Logged |
posted
Just be careful because this guy is out just for himself. Don't forget the 8-K filed on the 14th:
On Thursday September 11, 2007 Cal-Bay International, INC. has been acquired by Lenox Corp LTD, a Georgia Corporation specializing in Real Estate Development, Management, Marketing, and Investment. This deal was authorized by Syed Hasan Rizvi President, CEO, Director, and 89.7% majority shareholder in Cal-Bay International, INC.
Cal-Bay International, INC's asset's were sold to Lenox Corp LTD along with all names, trademarks, phone numbers, logos, and trade names in consideration for "Ten Dollars" ($10). Thus this completion of the asset sale allows Lenox Corp LTD, to file for name change and issuance new stock. The current existing shares of Cal-Bay International, INC are to expire Monday October 1st, 2007. This hereby transfers all tangible and intangible asset's of Cal-Bay International, INC as indicated in the Acquisition Agreement excluding liabilities owed by Cal-Bay International, INC.
Lenox Corp LTD, is in the process of applying for a new CUSIP Identification number for its 100,000,000 Authorized Shares and will seek to obtain a new SEC CIK Number and new NASDAQ Ticker Symbol "LNOX" by October 1st, 2007.
---------------------------------------------
But on the 18th he changed his mind with this 8-K:
Thursday September 18, 2007 Cal-Bay International, INC. (the "Company") and Lenox Corp, LTD. have mutually terminated the Asset Sale Agreement which was made public September 14, 2007 via press release and SEC Form 8-K.
The shares of CAL-BAY International, INC. will not expire on October 1st, 2007 as previously stated. The company will continue its operations as usual without any changes to current management or ownership of the company. The reason this deal was terminated because the company did not consider the payment sufficient for the company's assets being purchased.
The company will retain its name, trademarks, all assets subject to the terminated purchase agreement.
----------------------------------------------
He's still buying up shares but it sure doesn't make any sense to me. Maybe he's holding out for $20????
-------------------- My opinion is only that.
IP: Logged |
posted
Hey Wit, how ya been? Any way you slice it he is buying up the shares. He can't turn around and sell the shares for 60 days without SEC action. He can allude to the fact that he may dump some shares by raising the A/S thus a sell off. This would enable him to keep buying at these low levels. He said it himself; the Lenox merger was terminated because he thought the company was worth much more. This guy has spent over $1 million of his own money for the Common stock. He's no idiot. He sees allot of value here. I'm weathering the storm as the float dries up and thus a possible tender offer for the remaining shares comes in.
IP: Logged |
posted
Well,with any luck....the new CEO will buy more shares today lowering outstanding shares and hopefully in the NEAR future increase the overall value of shares (remember, multi-million dollar assets!)
Good Luck Jo! I hope you get it back and then some!
I am so excited, this could be really big!!!
Please, for those of you just joining please read my new signature.
-------------------- Please DON'T invest on JMO. Do YOUR research. Invest UR money the way YOU would like to! Thanks! ;)
IP: Logged |
posted
WTF is going on with this one? One of the most bizarre situations that I've seen.
As I just said to a friend, I'm happy to either have a ticket for the ride, or a front row seat for the plane crash. Should be a learning experience either way.
IP: Logged |
quote:Originally posted by PCola77: WTF is going on with this one? One of the most bizarre situations that I've seen.
As I just said to a friend, I'm happy to either have a ticket for the ride, or a front row seat for the plane crash. Should be a learning experience either way.
Indeed! I am hoping "for the ride" instead of the "plane crash"....LOL
-------------------- Please DON'T invest on JMO. Do YOUR research. Invest UR money the way YOU would like to! Thanks! ;)
IP: Logged |
posted
LOL, I'd say no bid is significantly more likely than $0.75...
quote:Originally posted by FrankNitti: Well...I have learned a lot after BHUB and EWDI. But this stock has definately made up for it! I just can't wait to see what happens next.....
I'm watching for that afternoon "volume jump" (look for high trade volume to increase 20 million plus per second) when the CEO buys again...that is...IF he does...
-------------------- Please DON'T invest on JMO. Do YOUR research. Invest UR money the way YOU would like to! Thanks! ;)
IP: Logged |
quote:Originally posted by invester: Hey Wit, how ya been? Any way you slice it he is buying up the shares. He can't turn around and sell the shares for 60 days without SEC action. He can allude to the fact that he may dump some shares by raising the A/S thus a sell off. This would enable him to keep buying at these low levels. He said it himself; the Lenox merger was terminated because he thought the company was worth much more. This guy has spent over $1 million of his own money for the Common stock. He's no idiot. He sees allot of value here. I'm weathering the storm as the float dries up and thus a possible tender offer for the remaining shares comes in.
I'm doing good invester, hope you're doing the same.
Who can tell what's really going on with this one. There's many theories out there, none of which make any sense to me yet so I'm waiting to see what the CEO himself says about this, that's 'IF' he says anything,.....
I'm wondering why no one has contacted them yet,.......
Until then,...the mystery goes on,.....lol
-------------------- ~You aren't wealthy until you have something money can't buy.~
IP: Logged |
posted
I think that became pretty apparent when a dude bought a bunch of shares, fired the CEO and appointed himself, didn't it?
My theory is that Pawson keeps upping to A/S so that the new guy can't claim to be a majority owner, and the new guy keps buying to get over the threshold. I'd imagine the new guy has lawyers going through things to see if the A/S increases are legal or not.
Haven't been a part of a hostile takeover/expiration before. Can you tell me the logic behind taking over a company then lettign the stock expire?
Thanks.
quote:Originally posted by roiresearch: in my heart, i believe this is a hostile takeover
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Smile]](smile.gif)
![[Wink]](wink.gif)
![[Mad]](mad.gif)
![[Frown]](frown.gif)
But this stock has definately made up for it! I just can't wait to see what happens next.....
