Cal-Bay Retains Prominent Los Angeles Law Firm to Help Combat Short Trading of the Company's Stock.CARLSBAD, Calif. -- The Board of Directors of San Diego-based Cal-Bay International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBAY) today announced the Company retained prominent Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Law Firm Richardson & Patel to help combat the short trading of the company's stock. Roger Pawson, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , commented, "Cal-Bay has retained Richardson & Patel to help combat the obvious short position in the company's tradable stock. Since the recent financing there has been a significant increase in the daily volume along with a dramatic downturn in the stock price. The Company has been trading an average of almost twice the amount of shares in the float on a weekly basis, which in my opinion uncovers a significant short position in the stock. Cal-Bay has been listed on the official NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on short list and is in communication with regulatory authorities." 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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