Cal-Bay International, Inc. (OTCMKTS:CBYI) Gathering Momentum
There weren’t any news about Cal-Bay International, Inc. (OTCMKTS:CBYI) for quite some time. The company started coming out with optimistic press releases in August, which led to heightened investor interest that lifted the stock’s price from the bottom of the charts, as shares started flying around.
After CBYI announced on August 13 that it was going for a name and symbol change in order to complete the company’s agreement with Cambertire LLC we saw some investor interest and a small increase in price. The gain in value came at 100% as the price hovered around the $0.0002 mark.
Since the press release from August 28, however, the stock started gathering momentum in an upward direction, which generated a 1650% gain in price, making the total percentile change in value from August 13 come to a staggering 3400%.
Friday’s trade session went extremely well for the company’s stock as it registered a 94.44% gain in value and a volume that was well above the ticker’s average of 60 million shares. As the stock closed the session at $0.0035 the total amount of shares that had switched hands came at 352 million and helped generate a trade value of a little over $1 million.
We have some issues with the company, the main from which is the lack of information on their operations and the fact that they don’t file financial reports neither with the SEC nor under the alternative reporting standard in the OTC Markets. Here is what the last report of the company looked like, expressed in the numbers of prime interest. Note that it’s an annual report for the year 2011.
- cash: $3,758
- total assets: $295 thousand
- total current liabilities: $409 thousand
- total liabilities: $3.5 million
- total income: $6,540
- net income: $2,434
Things weren’t looking that good back then and we reckon that the fact that they stopped filing reports sinc that time, suggests that things didn’t get any better. The company is marked with the red STOP sign in the OTC Markets, which is reserved for companies that don’t inform investors with reports of any kind. The fact that the company no longer has a website adds to the controversy.
There are a lot of people complaining that CBYI is a scam and things are as shady as they can get, so be sure to do a lot of due diligence and be prepared to take a huge risk if you have your mind set on making a play with this particular ticker.
Another company that is gathering momentum in a northern direction is Amarantus Bioscience Holdings, Inc. (OTCMKTS:AMBS), who gained 20% in Friday and closed the day at $0.0718 on a decent volume of traded stock.
Not so rosy is the situation with GRILLiT, Inc. (OTCMKTS:GRLT), who lost 30% from their value in the last session for the week and are heading in a downward direction, after the promising run from the end of July.
