Cyber Digital, Inc. Announces CEO Purchase Of Additional 90,800 Shares; CEO Reaffirms Cyber Digital's Potential Growth By Investing $525,000 This Year.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 1, 2002 Cyber Digital, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CYBD), announced that its Chief Executive Officer J.C. Chatpar increased his beneficial ownership of the company to approximately 36% through the purchase of an additional $50,000 of common stock in the open market totaling 90,800 shares. This year, J.C. Chatpar has invested $525,000 of his personal funds in Cyber Digital, reaffirming his belief that Cyber Digital in poised for future growth. J.C. Chatpar, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. said, "This year, in addition to my lending the company $325,000, I am pleased to have purchased $200,000 of common stock in the open market for a total of 260,800 shares. I have made these investments in Cyber Digital because I believe that our company is poised for substantial growth. Despite payment delays from Nigerian state governments, we still expect to attain bottom line profitability in each of our quarters through June 2003. Furthermore, unlike many companies in our industry, our company is financially healthy; we have neither bank debts nor off balance sheet arrangements." J.C. Chatpar also commented, "Our array of both broadband systems serving the new Homeland Security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States and VPN (Virtual Private Network) A private network that is configured within a public network (a carrier's network or the Internet) in order to take advantage of the economies of scale and management facilities of large networks. markets; and advanced digital voice switching systems Switching systems (communications) The assemblies of switching and control devices provided so that any station in a communications system may be connected as desired with any other station. serving the untapped Nigerian telecom market should provide a diverse revenue stream as well as solid growth prospects over the next several years." About Cyber Digital, Inc. Cyber Digital, Inc., is a leading manufacturer and software developer of advanced digital voice switching systems for network operators worldwide. Cyber Digital is also a leading developer and provider of an array of ultra-high performance Internet Protocol (IP) infrastructure software and systems such as routers, gateways, firewalls and servers for next-generation local-loop digital broadband and virtual private network (VPN) applications. This press release contains forward-looking statements, pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 that involve a number of risks and uncertainties that could cause actual results to differ materially. The risks and uncertainties are detailed from time to time in Cyber Digital's SEC reports and filings. Additional information may be obtained by visiting www.cyberdigitalinc.com |
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