Cal-bay International, Inc. (PN) (USOTC:CBYI)
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5 Years : From Apr 2012 to Apr 2017
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.
Cal-Bay International, Inc