SOURCE: Cal-Bay International, Inc.

May 30, 2007 12:38 ET

Cal-Bay International Files Lawsuit in Southern California for Recovery of $14M Debt on Florida Land Dispute

CARLSBAD, CA--(Marketwire - May 30, 2007) - Cal-Bay International, Inc. (PINKSHEETS: CBAY) announced the Company has filed a lawsuit in San Diego County for the recovery of the $14M debt owed to the company from the proceeds of the sale of the West Palm Beach, Florida First trust deed position owned by the company.

Cal-Bay spokesman announced the company has been fighting the case in Mississippi where the case originated; now Cal-Bay council has filed a new lawsuit against the parties involved in San Diego County, California in a serious attempt to resolve the outstanding debt owed to the company.

FORWARD-LOOKING SAFE HARBOR STATEMENT: To the extent that this release discusses any expectations concerning future plans, financial results or performance, such statements are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management's belief and expectations based upon presently available information. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties. The Company assumes no obligation to update any of the forward-looking statements in this release.

Contact Information

  • Contact:
    Cal-Bay International, Inc.
    Public Relations
    (760) 930-0100
    Fax: (760) 930-0200