SLGI may have just become a shell

SLGI traded 97,500 shares today, up 70% on the day, but over 100% since the start of the week. See their last filing and see if you can figure out what's on their minds. I sold this stock at $1.90 when Space Logic backed into Aladdin. Heavy hitting stock players are involved in this one!

A meeting at a New York court on May 1, and interesting volume today leads me to believe that the game is afoot. Shares closed at .10, up eighty percent. Maybe a news release is coming out before the market opens on Monday? I read in their filings that a spin off of free trading shares is in the works.

On May 1, 2008, the United States District Court for the Southern District of New York (the “Court”) approved the previously announced Settlement Agreement and Release (the “Settlement Agreement”) by and among Michael Gardner, Baytree Capital Associates, LLC, Treeline Investment Partners, LP, Sean Deson, David Jaroslowicz and Gene Rosenfeld (collectively, the “Plaintiffs”) and SecureLogic Corp. (the “Registrant”), along with certain of its officers and directors, Gary Koren, Shalom Dolev, Cathal L. Flynn, Iftach Yeffet, Tony Gross and Michael Klein (collectively, the “Defendants”) to settle a previously disclosed lawsuit. The Court reserved judgment on the proposed spin-out of a subsidiary designated as the licensee to certain iScreen licenses by the Plaintiffs.

SLGI name change to Bay Acquitions 8K just filed. Hope you get this message...twozbots

Name changed to Bay Acquisitions. This group is crazy about Bay names. Baytree Capital, Monterey Bay... you get the picture. But if you are a multi-millionaire like Mike Gardner you can call your company any name you want. This bunch lost their collective shirts on Secure/Space Logic, so I believe that they will go all out to make Bay etc a success. I bought more as soon as I saw the 8K. Spoke to Paul Goodman, the sole director and officer (he was the one who referred me to the 8K) and asked if he had a merger candidate identified yet. His answer (predictably) was that he couldn't discuss that with me. Always a good sign. Next step is a symbol change...happy hunting!

SLGI... Bay Acquisitions has just filed an NT 10-Q (late filing notification). This to me is meaningful. I believe an announcement is imminent. They need extra time to dot the I's and cross the T's on whatever the new deal is. Otherwise they would have just updated the last Q and let it go at that. Logic tells me if the shares are selling for .13 with nothing in the company, imagine what the price will be with a solid deal vended in. Also they do not yet have a new symbol. Maybe that are waiting til after the merger to get a symbol that better represents the new entity.

Just bought 7790 shares at .06. These prices won't last. It's had to believe that this shell won't find a viable merger partner.