May 06, 2010 (M2 PRESSWIRE via COMTEX) -- Braintree,Ma. LevelStock.com is pleased to announce to all of its members and investors information on Cal-Bay International, Inc. (PINKSHEETS: CBYI). The Company recently released news as follows:
CBYI had a big day of trading on Wednesday with more than 10.2 million shares changing hands which is well above it's normal trading volume. Investors are waking up to CBYI so do your homework as we believe CBYI is gearing up here. Here is the recent news from CBYI.
On May 04th, 2010 Cal-Bay International, Inc. (PINKSHEETS: CBYI) announced the signing of a "Letter of Intent" on May 2, 2010 to acquire the business operations of a restaurant located in Arlington, TX. The restaurant is strategically located less than two miles from the newly constructed multi-purpose Cowboy Stadium, Texas Rangers Ballpark, Six Flags Over Texas amusement park, and Arlington Convention Center. The terms of the LOI allow Cal-Bay to perform due diligence for 90 days to more thoroughly review financial statements and the health of the Arlington market. The restaurant has four years left on its current lease, and an option for an additional five years.
Under the terms of the LOI, Cal-Bay is restricted from announcing the name of the restaurant until ten days prior to closing due to Texas beverage licensing requirements. The terms also require that the original offer and counteroffer for the business remain confidential until the 90 day due diligence period is complete and a final agreement has been drafted.
Cal-Bay has been provided with the financials of the restaurant for 2006, 2007, 2008 and 2009 and these records report revenues of $902,684, $997,294, $738,664 and $691,370 respectively. Cal-Bay, consistent with its business model, sees in this restaurant a distressed property with substantial turn-around potential. The reduction of revenues for 2008 and 2009 were directly caused by the closure of major roads and highway access due to the construction of the new Cowboy Stadium. Since the partial reopening of these roads for the opening of the stadium itself, ownership has seen a major increase (approximately 30%) in customer traffic and revenues. By the time Cal-Bay completes their due diligence and closes on the acquisition of the restaurant, baseball season will be at its peak; pre-season football will have begun; summer travel to Six Flags/Hurricane Harbor will be in full swing; and local business should see a healthy boost.
For additional news and information in the future regarding this transaction, the restaurant in Arlington, and other exciting ventures from Cal-Bay International please visit www.calbayinternational.com.
Cal-Bay International, Inc. has been involved in real estate and other business ventures for over a decade. In 2009, a new management team took Cal-Bay International through the process of reorganization. The headquarters of the company were moved and the debt and equity positions of the company were evaluated. Steps were subsequently taken to prepare the company for new ventures and opportunities.
In April 2009, a business plan was developed to capitalize on the real estate situation in the Southwestern Unites States where thousands of homes were in foreclosure and tens-of-thousands of homeowners were upside-down in their mortgages. As the basis for the economic crisis that began in 2007, this financial dilemma appeared to also be an opportunity. Cal-Bay is currently in the process of acquiring capital to build upon the property holdings currently owned by the company and to invest in business ventures that align with the goals of the management.
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