CyberAmerica subsidiary executes $1.5 million contract.SALT LAKE CITY--(BUSINESS WIRE)--Feb. 11, 1997--TAC Inc., a Utah corporation ("TAC 1. TAC - Translator Assembler-Compiler. For Philco 2000. 2. TAC - Terminal Access Controller. ") and consolidated subsidiary of CyberAmerica Corp. (BSE See Bombay Stock Exchange. BSE See Boston Stock Exchange (BSE). :CYA CYA Cover your ass. See Defensive medicine. )(OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CYAA), executed a real estate purchase contract with ANA Development LC ("ANA") on Friday, Feb. 7, 1997. The real estate purchase contract outlines the proposed sale of property owned by TAC and is located at 5280 W. Wells Park Rd., Salt Lake City. The proposed property consists of a 60,000 sq. ft. warehouse on approximately 3.5 acres. The proposed sale price is $1.5 million. Under the contract, TAC will receive $960,000 in cash with the remaining $540,000 balance represented by ANA's transfer of a parcel of commercially zoned real property located at 1300 N. Highway 89, Layton, Utah. Closing date is set for March 21, 1997, pending completion of a due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. investigation by ANA Development. CyberAmerica or its subsidiaries own approximately 75 percent of the issued and outstanding capital stock of TAC. TAC's common stock is publicly traded on the over-the-counter bulletin board. CONTACT: CyberAmerica Corp., Salt Lake City Richard D. Surber, 801/575-8073 Fax: 801/575-8092 |
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