Last Week CBAY was going to be worthless come October 1st. Sure this was no big news to current CBAY "bagholders". CBAY had no bid. No one wanted to buy a shares of CBAY.
There was a seemingly harmless 8-K filed with the SEC exchanging CBAY assets for the total sum of $10 and leaving CBAY stock to expire on October 1st. But it all really made no sense. Why not reverse split the stock like every other Pink Sheet POS? Why stop CBAY from trading?
Over the course of the next week CBAY and its shareholders were turned literally upside down as the stock gained a renewed following and now has prospects of a positive appreciation in value. Why? The answer is quite simple.
The New CEO is buying up the float. He started small. A 37,000,000 buy filed with the SEC in Early September of 2007 that meant he owned 89.7% of CBAY. That should be the only purchase he needed to make. But it did not stop there.
He bought another 60,000,000 and another 100,000,000 for a total of 197,000,000 or $19,700 worth of stock. To some that is a significant validation that the CEO believes in the company. But the new CBay CEO did not stop there. After the market closed on Friday September 21st it was revealed through two more Form 4's that the CBAY CEO bought an additional 1,003,000,000 shares for a total of 1.2 billion CBAY shares at a cost of $120,000!!!
I will continue this article tomorrow.
CBAY is poised to take the penny world and lift it higher than ever before tomorrow.
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