Cyber Digital, Inc. Negotiations for $35 Million Digital Wireless Telephone Networks Near Completion.Business Editors, High Tech Writers NEW YORK--(BUSINESS WIRE)--June 13, 2001 Five States in Nigeria have accelerated their capital appropriation plans for Cyber Digital to Provide its Fixed Microcell Wireless CDCO CDCO Curriculum Design, Content and Organization CDCO Classified Document Control Office Exchanges Cyber Digital, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CYBD), a leading manufacturer and software developer of fixed wireless Digital Central Office Telephone Exchanges announced today that it is in final negotiations to provide its digital wireless telephone networks in the five states of Nigeria Nigeria is currently divided into 36 states and one federal capital territory. The states are further divided into 774 Local Government Areas Before and after independence in 1960, Nigeria was a federation of three Regions: Northern, Western, and Eastern. for a sum of $35 million. These states have accelerated their capital appropriation plans for Cyber Digital to provide its fixed Microcell wireless CDCO Exchanges ranging from 3,000 to 10,000 subscriber lines. Cyber Digital expects to finalize contracts with these states within the next few months. The payment terms for these contracts has been accepted as 50% cash-in-advance and the remaining balance paid through an irrevocable confirmed letter of credit Confirmed Letter of Credit A letter of credit which a bank other than the bank that opened it agrees to honor as though they had themselves issued it. This additional confirmation is in addition to the obligation of the bank which issued the letter of credit. . In response to the demand from these states, Cyber Digital (Nigeria) Ltd., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Cyber Digital, Inc., has appointed engineers and consultants for site surveys, network planning and technical support to define each state's infrastructure requirements. Additional details may be found at: http://www.thestockadvisor.com/spotlights/052901cybdspotlight.htm. About Cyber Digital, Inc. Cyber Digital, Inc., is a leading manufacturer and software developer of advanced integrated packet and circuit digital switching equipment, employing SS7 or C7 signaling, for private and public switched voice 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 distributive digital broadband and virtual private network (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. ) 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. Cyber Digital, Inc. has been profiled in The Stock Advisor Newsletter and is featured on The Stock Advisor website. Additional information about Cyber Digital, Inc. may be obtained by sending email to cybd@cyberdigitalinc.com, or visiting www.cyberdigitalinc.com or www.thestockadvisor.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion