Cal-Bay Issues Statement Regarding False Newswire Story Dated July 7, 2006.CARLSBAD, Calif. -- The following is a statement issued by Cal-Bay International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBAY): It has come to Cal-Bay's attention that an anonymous posting A message that cannot be traced to the person who created it. See anonymous remailer. to an online bulletin board on Friday, July 7, 2006, contained what purported to be a newswire story about Cal-Bay announcing its acquisition by the company RE/MAX RE/MAX Real Estate Maximums (Canada) International, Inc. The story was fabricated fab·ri·cate tr.v. fab·ri·cat·ed, fab·ri·cat·ing, fab·ri·cates 1. To make; create. 2. To construct by combining or assembling diverse, typically standardized parts: to appear as if it was issued by AP based on a press release from Cal-Bay. The contents of this story are completely false and were posted by an outside third party unaffiliated with either Cal-Bay or RE/MAX International. Both Cal-Bay and RE/MAX legal representatives have confirmed that the story was fabricated and unauthorized. Cal-Bay intends to take aggressive action to identify all parties responsible for this release of false information, and to hold them legally accountable, including the distribution network, as necessary. Cal-Bay President Roger Pawson stated, "This intentional release of false information appears to be a transparent and blatant attempt to mislead mis·lead tr.v. mis·led , mis·lead·ing, mis·leads 1. To lead in the wrong direction. 2. To lead into error of thought or action, especially by intentionally deceiving. See Synonyms at deceive. shareholders and the public and to manipulate Cal-Bay's stock price. RE/MAX International is not a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. . The release of intentionally false information in this manner is a serious offense, subjecting the perpetrators to both civil and criminal penalties. I have instructed Cal-Bay's counsel to take all necessary steps to identify and report the parties responsible and prosecute accordingly." 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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