The Editor | 
05 13th, 2010| 
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Cal-Bay International Inc., (Pinksheets: CBYI), recently announced the acquisition of a new property in Las Vegas, Nevada. The property currently has both tenants and positive cash flow.
Shaun Bailey, president of Cal-Bay, said, “We have officially begun to obtain property in Las Vegas and a few other related markets. Like many properties we have looked at so far, this latest property in Las Vegas meets the value and cash flow requirements we have as a company. This, of course, is only one of many properties we plan to acquire in the next few months.”
The business plan of Cal-Bay includes procedures to purchase under-valued real estate in markets that have been deeply affected by the crash of the housing market and the resulting economic difficulties. In addition to a significant drop in the median sale price of both residential and commercial real estate in Las Vegas (and related markets), large numbers of foreclosures and underwater mortgages provide opportunities to purchase property at a considerable discount to even the current market price. With a heavy focus on residential single-family dwellings, Cal-Bay has been actively pursuing these heavily discounted properties for quick resale or for sale at a premium later. The company has also looked at “short-sale” and only recently foreclosed properties that are typically not as cheap, but have much less damage or need for repair.
According to www.zillow.com, Las Vegas continues to have a rolling annual foreclosure rate of over 3.5% of all homes in the valley and 58% of homes are still sold for a loss. The number of available homes sold at a discount appears to remain very high for the foreseeable future.
For more information concerning the business plan of the company and market trends, please visit www.calbayinternational.com.
Jedi Mind, Inc. (Pink Sheets: JEDM.PK), recently just announced JEDM.PK has resolved to reduce 60% of the Authorized stock in The Company to eliminate these shares from being issued and entering the market. The Board of Directors approved the resolution in order to minimize dilution as The Company grows and to maximize shareholder value.
Jedi Mind, Inc. has made significant progress as the leader in thought controlled software applications and has released two finished products, which are now available for sale on The Company’s website. The most recent application, “Jedi Mouse” allows the user to operate the computer, open and close programs, compose and send email all with the power of their mind. “The Company has received enormous applause for the contributions made to assist the disabled with this application, yet the stock price is lower than it was prior to these applications being completed,” stated Brent Fouch, CEO. The Company feels it is only a matter of time before this revolutionary technology gets noticed by Wall Street and is reflected in the price of the stock.
About Jedi Mind, Inc.
Jedi Mind, Inc. develops software for thought-controlled technologies, allowing the user to interact with the computer and other machines through the power of the mind. The technology involves the use of a wireless headset, developed by our strategic partner, which detects brainwaves on both the conscious and non-conscious level. This revolutionary neural processing technology makes it possible for computers to interact directly with the human brain. www.JediMindInc.com
Whole Foods Market, Inc. (NasdaqGS: WFMI), announced yesterday results for second quarter earnings. Results were reported for the 12-week second quarter ended April 11, 2010. Sales increased 13% to $2.1 billion. Comparable store sales increased 8.7%, or 3.9% on a two-year stacked basis. Identical store sales, excluding four relocations, increased 7.7%, or 1.9% on a two-year stacked basis. Earnings before interest, taxes, depreciation and amortization (“EBITDA”) increased 40% to $182.3 million.
Income available to common shareholders increased 147% to $67.5 million, and diluted earnings per share increased 102% to $0.39 per diluted share. Results included a $3.2 million, or $0.01 per diluted share, gain on the sale of a non-operating property in the current year, and asset impairment charges of $13.1 million, or $0.05 per diluted share, in the prior year. During the quarter, the Company produced $181.5 million in cash flow from operations and invested $64.5 million in capital expenditures, of which $51.7 million related to new stores. This resulted in free cash flow of $117.0 million. Total cash and cash equivalents, restricted cash, and investments were $725.8 million, and total debt was $729.0 million. Subsequent to the close of the second quarter, the Company repaid the $210 million unswapped portion of its $700 million term loan maturing in August 2012, leaving $490 million outstanding.
In addition, the Company has $337.7 million available on its credit line, net of $12.3 million in outstanding letters of credit. For the 28-week period ended April 11, 2010, sales increased 10% to $4.7 billion. Comparable store sales increased 5.7%, or 1.4% on a two-year stacked basis, and identical store sales (excluding five relocations and two major expansions) increased 4.7%, or -0.6% on a two-year stacked basis. EBITDA increased 32% to $368.3 million, income available to common shareholders increased 113% to $117.1 million, and diluted earnings per share increased 83% to $0.72.
Year-to-date results included a gain of $3.2 million from the sale of a non-operating property, asset impairment charges of $1.9 million versus $15.4 million in the prior year, and FTC-related legal costs of $1.5 million versus $13.9 million in the prior year. Year to date, the Company has produced $343.0 million in cash flow from operations and invested $147.0 million in capital expenditures, resulting in free cash flow of $196.0 million. Since the Company’s first quarter earnings release, the Company has reduced the size of three stores in development by an average of 14,500 square feet each. The Company also recently signed two new leases averaging 40,900 square feet in Wellesley, MA and Oklahoma City, OK – both currently scheduled to open in fiscal year 2011 and beyond.
About Whole Foods Market
Founded in 1980 in Austin, Texas, Whole Foods Market (www.wholefoodsmarket.com) is the leading natural and organic foods supermarket, and America’s first national certified organic grocer. In fiscal year 2009, the Company had sales of approximately $8.0 billion and currently has 295 stores in the United States, Canada, and the United Kingdom. Whole Foods Market employs approximately 55,000 Team Members and has been ranked for 13 consecutive years as one of the “100 Best Companies to Work For” in America by Fortune magazine.
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