cal-bay intl inc (CBYI:OTC US)
cal-bay intl inc (CBYI) Key Developments
Cal-Bay International Inc. announced appointment of John Taylor II as the its new Vice President of Operations. Mr. Taylor now joins CEO Larson Coleman on the newly formed board of directors of company. Mr. Taylor has an extensive background in the development and construction industry having worked with some of the commercial developers across the world.
Cal-Bay International Inc. announced that the company appointed Larson Coleman as Chief Executive Officer. Mr. Coleman was formerly the company's Interim CEO after the resignation of Kevin Denniston earlier this year.
Cal-Bay International Inc. announced that the company is retaining new council to challenge the Aberdeen, Mississippi court ruling for the title and ownership of Cal-Bay's West Palm Beach, $14 million Stonewall Estates Project. Cal-Bay acquired the $14M land parcel in 2005 and held legal title to the property until challenged by the "Straw" corporations after Nationwide Builders "Lennar Homes" made a significant offer for $14M to purchase the property. Cal-Bay's previous council defended the title and ownership issue through 2009, when the court ruled title to the 'Straw" corporations. The new evidence should allow the ruling to be overturned and the filing of multiple countersuits and malpractice lawsuits. Cal-Bay's new legal council has requested the company to withhold specific details of the claims until the lawsuits have been filed and service completed.
Cal-Bay International Inc. announced that the company's new "Technology Systems Division" will be producing its own brand of commercial application Energy Saving Units known as "EST Systems." The "EST System" provides energy saving cutting edge technology for use by business and in the public sector. The innovative line of products help reduce greenhouse gasses, while saving money on energy costs, with a rapid financial return on Investment period. The "EST" can reduce power consumption of fluorescent lighting systems by up to 40% whilst not compromising the same light emission benefits. The units are compatible with most power supply boxes and do not require any changes to the main supply line other than the installation of the "EST" control box. The units do not require any changes to the actual ballast or Fluorescent lighting units and achieve additional savings in conjunction with LED lighting tubes and bulbs. Cal-Bay announced the "EST" unit should be available for delivery and Installation by March 2012.
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