Cal-Bay International Official Update
08 October 2013 - 12:20AM
Access Wire
LAS VEGAS, NV--(Accesswire) October 7th
2013 Cal-Bay International, Inc. (Pinksheets: CBYI) Today
released the following official update and status report regarding
a "Rescission" blog post by "Optima Sports AKA Cambertire" ,
President John Scott on Friday October 4th 2013 on an
investors chat room message board:
Cal-Bay would like to advise shareholders and Investors of the
following series of events that possibly led to the unexpected
statement posted on investors chat room message board(s) by
Cambertire’s President John Scott.
Cal-Bay recently instructed counsel to finalize the due
diligence for the "Optima Sports" (Asset Owner) as specified in the
Executed Definitive Agreement, prior to completing the name change.
This included the Patent ownership, and potential Patent conflict
interests along with Trademark and copyright(s) verification as
specified in the agreement.
The results indicated the Trademarks for "Cambertire" and
"Optima Sports" were not reflected anywhere in the US Trademarks
system, as were several other included registered Trademarks that
were outlined in the definitive agreement.
The research further revealed a number of potentially
conflicting patent items already recorded and issued in the US
Patent office, including several by leading Tire Manufacturers. Cal
Bay counsel is investigating further the possibility of Patent
Infringement. The research also seems to indicate some delinquent
Patent dues for the US Patent # 5,975,176.
Relative Links:
https://www.google.com/patents/EP1792756A2?cl=en&dq=john+scott+camber&hl=en&sa=X&ei=ZdJQUpbBEMKViQL_mYHACg&ved=0CFoQ6AEwBQ
https://www.google.com/?tbm=pts#q=5975176&tbm=pts
http://www.uspto.gov/
The results to date seem to imply a number of discrepancies on
the part of "Optima Sports" regarding the deliverable assets
specified in the Executed Definitive Agreement, furthermore Cal-Bay
has requested on several occasions the Financial Statements from
Optima Sports for the company’s assets, patent valuations, sales,
liabilities and general accounting information in order to complete
the consolidated financial information required to complete the
transaction. No such information has been received to this date to
verify the same. The verifiable information received to date for
assets shown, appear to be several Domain names, several Tire
Molds, and a single Patent.
Additionally outside of the clear violation of the
confidentiality clause(s) defined in the executed agreement, along
with the unauthorized public dissemination of "Confidential"
information , and now the "Rescind" statement via public blog /
message board, and a slanderous e-mail to the company confirming
the same, causes concern by Cal-Bay for the future management in
the "Optima Sports/Cambertire/John Scott" sector for Investors.
As Cal Bay International seeks further resolution(s) to
these matters Cal Bay corporate counsel is pursuing all ways to
protect our shareholders interest in this matter and reserves all
rights as per the Executed Definitive Agreement.
Other Cal Bay International Business
Updates
Cal-Bay recently entered negotiations for the licensing of a
state of the art fiber material for use in the automotive and
vehicular Industry, including but not limited to the manufacture of
extremely durable lightweight vehicle wheels, and the possible use
for replacement of steel bands used in the Tire manufacturing
industry, due to the high temperature tolerance compared to both
steel and carbon fiber components. Cal-Bay is still moving
forward with the negotiations for the licensing of this cutting
edge technology. The company has already received several
inquiries by vehicular manufacturers for the use of the
material as an alternative to Carbon Fiber and Fiberglass used in
the manufacturing process.
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.:
Contact:
Investor Relations:
Tel: (949) 375-3208
Email: ceo@calbayinternational.net
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