CyberAmerica Corporation Expects Form 10KSB to Be Completed By No Later Than May 1, 2000.Business/High Tech Editors SALT LAKE CITY--(BUSINESS WIRE)--April 27, 2000 CyberAmerica Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CYAAE) announced today that it expects to file its Form 10KSB KSB Kogod School of Business (American University) KSB Kelley School of Business (Indiana University) KSB Kantonsschule Am Brühl St. for the year ended December 31, 1999 by no later than May 1, 2000. The delay in completing the Form 10KSB is the result of complications involving the Company's decision to implement a new accounting software package which only became available late in the fourth quarter of 1999 and a large influx of unanticipated consulting work in the first quarter of 2000. The Company has resolved the software complications and is currently in the process of searching for additional professionals to accommodate for the increased work load. The Company's trading symbol Trading symbol See: Ticker symbol has been changed to CYAAE from CYAA, as result of the delay in filing the report. However, management believes that it will have all of its Securities Exchange Act of 1934 reports current by no later than May 1, 2000. Consequently, the Company expects that the "E" will be removed within a few days after becoming current. Management anticipates earnings for the year ended December 31, 1999 to be $1.08 per share before calculating its anticipated earnings in its minority shareholder interests in certain subsidiaries which have not been finalized as of the date of this release. However, the earnings number is subject to potentially material changes while final adjusting entries are made to the Company's financial statements. 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 provides 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 the CyberAmerica's consulting service please visit www.hudsonconsult.com. CyberAmerica strongly encourages that the above information be read in conjunction with its December 31, 1998 Form 10KSB and its September 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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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