This Press Release is intended to serve as a formal apology for Cal-Bay Shareholders and Investors who were along with Cal-Bay Management extremely disturbed and concerned with the manner in which the prior acquisition model “Rescission” statement was Publicly and unprofessionally announced by the Company’s Principal.
LAS VEGAS, NV- (Accesswire) October 9th 2013 Cal-Bay International, Inc. (CBYI) Today announced that despite the recent disappointment to the Company, Shareholders and Investors along with the significant time, effort and money invested in the project by all parties, Cal-Bay is continuing to move forward with several acquisitions that were in fact synergetic with the previous automotive / vehicular business model.
The company was recently involved in significant funding negotiations for the previous project, which has now shifted to the pending new acquisitions, which has been seen to be acceptable to date to the funding organizations after reviewing (under NDA) agreements and business plans along with verifiable financial information.
As a result of the changes Cal-Bay will remain in name and symbol, as Cal-Bay International, Inc., (CBYI) and has now secured and taken possession of a new Southern California Office & Warehouse facility. This facility will become fully operational this month for the management and operation of the first acquisition which will be announced publicly by Press Release.
Cal-Bay will now take the role as a holding company, for the acquisition of operational companies only as wholly owned subsidiaries,.
Forthcoming new Board of Directors announcements, along with new Accounting, and Legal Council appointments will be announced this month and visible on OTC Markets website upon completion in addition to the company’s new website currently under development.
Cal-Bay recently entered negotiations for the licensing of a state of the art fiber material for use in the automotive and vehicular Industry, including but not limited to the manufacture of extremely durable lightweight vehicle wheels and the possible use for replacement of steel bands used in the Tire manufacturing industry, due to the high temperature tolerance compared to both steel and carbon fiber components. Cal-Bay is still moving forward with the negotiations for the licensing of this cutting edge technology. The company has already received several inquiries by vehicular manufacturers for the use of the material as an alternative to Carbon Fiber and Fiberglass used in the manufacturing process.
Safe Harbor Statement: Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as CBYI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Cal-Bay International, Inc.:
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