Cal-Bay International Short Selling Position Update.CARLSBAD, Calif. -- Cal-Bay International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBAY) announced an update statement on the short selling Short Selling The selling of a security that the seller does not own, or any sale that is completed by the delivery of a security borrowed by the seller. Short sellers assume that they will be able to buy the stock at a lower amount than the price at which they sold short. position of the company's stock. Company management today commented after a diligent dil·i·gent adj. Marked by persevering, painstaking effort. See Synonyms at busy. [Middle English, from Old French, from Latin d review of the NOBO NOBO (Non-Objecting Beneficial Owner) A beneficial ("street") security holder who has not objected to his or her name being released to the Corporation, if the Corporation so requests. list (notice of beneficial ownership) dated October 13, 2006: "We feel there is a significant short position in the common tradable shares, which may be influenced by a position held overseas. The regulations for shorting against stock outside of the USA are generally more relaxed and the requirements to cover against a short position are often less stringent." Management further commented, "We are also investigating the probability of short-selling against the Preferred 'B' shares." Cal-Bay management intends to issue a statement early next week on the company's plan of action regarding the short selling. FORWARD LOOKING SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . 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. |
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