CyberAmerica Corp. Announces Gain from Sale of Investment Securities.Business Editors SALT LAKE CITY--(BUSINESS WIRE)--April 6, 2000 CyberAmerica Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: CYAA) Thursday announced preliminary figures from the first quarter of 2000 for sales of investment securities owned by CYAA and its subsidiaries. CYAA and its majority owned subsidiaries sold $2,175,991 in investment securities during the quarter ended March 31, 2000. CYAA's basis in the securities was approximately $469,781. Accordingly, CYAA expects to record a gain on investment securities of $1,706,210 for the quarter ended March 31, 2000 compared to $46,278 gain on investment securities for the comparable period in 1999. The majority of the securities liquidated DAMAGES, LIQUIDATED, contracts. When the parties to a contract stipulate for the payment of a certain sum, as a satisfaction fixed and agreed upon by them, for the not doing of certain things particularly mentioned in the agreement, the sum so fixed upon is called liquidated damages. (q.v. during the first quarter of 2000 represent securities received for services provided by CYAA's consulting subsidiaries in prior years. CYAA initially booked the securities at low levels based upon the illiquid Illiquid An asset or security that cannot be converted into cash very quickly (or near prevailing market prices). Notes: A house is a good example of an illiquid asset. See also: Cash, Liquidity Illiquid In the context of finance. nature of the investments and the volatile nature of the securities. The illiquid nature of the securities received by CYAA and/or its subsidiaries is the result of restrictions on resale on the securities. The above figures do not include revenues generated by CYAA's real estate or consulting subsidiaries. The $1,706,210 only represents the gain on sale of investment securities portion of "other income" which is exclusive of rental revenues, consulting revenues and other income. The data concerning consulting and revenues for the first quarter of 2000 are not available as of April 6, 2000. The above results may not be indicative of future sales of investment securities. CYAA is a diversified holding company that specializes in investing and developing undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. real estate and providing financial consulting services to public and private companies. For more information on CyberAmerica's real estate holdings please visit www.cyaa.com. For more information on CyberAmerica's consulting service please visit www.hudsonconsult.com. CyberAmerica strongly encourages that the above information be read in conjunction with its Dec. 31, 1998 Form 10KSB KSB Kogod School of Business (American University) KSB Kelley School of Business (Indiana University) KSB Kantonsschule Am Brühl St. and its Sept. 30, 1999 Form 10QSB QSB Fading QSB Qualified Small Business (IRS category) QSB Queen Street Backpackers (Auckland, New Zealand) QSB Quality System Basics QSB Qualified Supplemental Benefit QSB Quantum Singleton Bound . The above documents can be viewed at www.sec.gov. A number of statements contained in this press release are forward-looking statements which are made 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. These forward-looking statements involve a number of risks and uncertainties, including the timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results that CYAA may achieve may differ materially from any forward-looking statements due to such risks and uncertainties. |
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