Cal-Bay International, Inc DTCC Chill Clarification
March 23 2012 - 12:44PM
Marketwired
Cal-Bay International, Inc. (PINKSHEETS:
CBYI)
regarding the alleged DTCC Chill for Cal-Bay
International, Inc.
Cal-Bay International has clarified with the Company Transfer
Agent and reviewed the DTCC system report regarding the alleged
DTCC Chill and DTC eligibility on the company's stock. Cal-Bay
does not have a CHILL on its trading ability
primarily due to the amount of shares already in electronic format
in the DTCC system.
The confusion and why some brokers are alleging a Chill on the
stock is due to the fact Cal-Bay previously was DWAC (FAST)
qualified and had the capability to transfer certificates
electronically as opposed to issuing stock certificates, DTCC
recently placed a Chill or alleged non DTCC eligibility on the
majority of PinkSheet companies and Chills for DWAC transfer of new
issuances. Cal-Bay did receive a Chill status for DWAC transfer
only and this does not affect the ability to transfer certificates
in the traditional manner and the company does not have a chill or
non eligible status on its tradability.
Some brokers are charging astronomical fees for clearing non
DTCC eligible and Chilled stocks and appear to be taking advantage
of the Chill situation at the expense of the Investors.
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.
Contact: Investor Relations Cal-Bay International, Inc
866-501-8564 IR@calbayinternational.net
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