Cal-Bay International, Inc. (PINKSHEETS: CBYI) saw massive trading volume to start the week with more than 137.3 million shares moving hands by late afternoon but the heavy activity has done little for the company’s share price as they have bounced between 0.0011 and 0.0016 and the company, which engages in the acquisition, development, management, sale, and rental of commercial or residential properties in the United States, closed the trading session at 0.0012. While that may be close to where CBYI closed on Friday it is still considerably lower than the 52-week high of 0.0049 the company hit on September 9, 2013.
Looking at the company’s most recent quarterly report for the period ended June 30, 2013 CBYI stated that they had been devoted to following its business plan and increasing brand name awareness but later noted that they had transitioned into a technology based holding company with the primary objective within the automotive/ transportation/ vehicular industry.
Making a transition to a different business plan shouldn’t come as a surprise to investors considering they hadn’t recorded any income since 2011 and for that year they reported income of $6,540. CBYI isn’t exactly flush with cash either as they reported having just $2,560 in checking/ savings.
Back on September 9, 2013, the day CBYI hit that 52-week high, they issued a corporate update & shareholder information statement that included information regarding their completed update to (unaudited) financials from 2011 to Current, and informed investors that they would be uploading the same to OTC Markets for Public disclosure, which has been done.
CBYI went on to say “The changes reflect significant reduction in Company debt due to the disposition of the Real Estate Holdings and Mortgages. The primary assets are significantly increased due to Patent valuations held by the company.”
As for exactly where CBYI will be generating their revenue from the company believes that would be taken care of with the ongoing research and development, promotion, license, and distribution of a patented tire technology called Cambertire which provides “a consistently superior and safer driving experience while reducing the carbon footprint of both existing and future automobiles.”
Until those revenues start to flow there will be a cloud of doubt that hangs over the company as many investors have questioned not just the financials of the company but the management of CBYI as well; there are some individuals who contend that the company’s CEO, Larson Coleman, doesn’t even exist. This belief is tied to the fact that Roger Pawson is in a control position through preferred stock holdings and Pawson is often credited with conjuring up the name Michael Burton and installing him as CEO of Biocentric Energy Holdings, Inc., a company that hasn’t traded above 0.0001 for some time now; as it turned out Burton never took a breath on this earth.