Re: Cyberamerica (CYAA) - Yet another publicly traded tout
If you like publicly traded tout stocks, like FNTT and Merger (via HITD), you'll love CYAA. A major player in the company is Allen Z. Wolfson who is currently under indictment for "improper dealings... in the shares of five publicly traded companies" (see below). The CEO is Richard D. Surber, Wolfson's nephew. The Salt Lake City Tribune ran a story mentioning the two called "Indicted Businessman Has Long Trail of Iffy Ventures" (see siliconinvestor.com
Surber also runs the troubled Kelly's Coffee (KLYS) and has come under fire by critics on Raging Bull. A few weeks ago (7/28/00), KLYS's lawyer posted on RB and threatened to sue six people unless they publicly retracted statements they made about the company (see below).
Yesterday, CYAA's price jumped from $1 to $1.68. Last night CYAA was relentlessly spammed all over RB, and today the price is currently $2.09 (down from a morning high of $2.25; see spam below). CYAA released its amended Form 10 today as well.
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CYAA recently divested itself of many of its real estate holdings in order to improve its cash flow position... and concentrate on its consulting services:
The Company's consulting subsidiaries generate revenues through consulting fees payable in the client's equity securities, cash, other assets or some combination of the three. The primary form of compensation received is the equity securities of clients...
...The Company's portfolio consists primarily of restricted and unrestricted shares of common stock in micro to small cap publicly traded companies. This portfolio currently consists of shares of common in over 70 different companies whose operations range from that of high-tech Internet operations to oil and gas companies. The Company believes that the diversity of its current holdings is such that the overall volatility of its portfolio is significantly less than in prior years of operations. Nonetheless, the Company's portfolio is considered extremely valuable.
... During the quarter ended June 30, 2000, the Company and its subsidiaries sold $1,149,643 in investment securities. The Company's basis in the securities was approximately $380,514.
...
On June 26, 2000, the Company purchased 441,730 of its shares of common stock from entities related to Allen Z. Wolfson or in which he has a controlling interest ("Wolfson Entities"). In exchange, the Company forgave debt owed to it by the Wolfson Entities...
The Company bought back the stock for the primary purpose of decreasing Mr. Wolfson's direct or indirect shareholdings in the Company's common stock below the 10% level. The board of directors has determined that it would be in the best interest of the Company to eliminate Mr. Wolfson as a control person of the company because of certain charges brought against him originating out of the Southern District of New York ("the New York Indictment").
... Due to the indictment of Allen Wolfson, the Company has decided that for public relations reasons, the Company should minimize the dealings between Mr. Wolfson and the Company. The stock purchase described above was carried out, in part, for this reason. The New York Indictment charges improper dealings by Mr. Wolfson and others in the shares of five publically traded companies. The Company has determined that it has, from time to time, performed consulting services for four of the named companies. These companies are Learner's World, Inc., Rollerball, Inc., Healthwatch, Inc., and Hytk Industries, Inc. The Company has received shares of stock from said companies in payment for consulting services rendered to the companies and some of the shares have been sold by the Company. Mr. Wolfson has been involved in referring business to the Company and has consulted with the Company on the Company's purchase and sale of shares in the four above listed companies. To the knowledge of the Company, it is not a target of the investigation which resulted in the indictment of Mr. Wolfson and the Company has not been charged with any wrongdoing. However, in the event that Mr. Wolfson is convicted of the charges set forth in the New York Indictment, his prior involvement with the Company might result in claims being made against the Company at some future time.
freeedgar.com
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The following are links to information about KLYS:
KLYS Attorney's Demand to Retract False Statements or be Sued
Message 14130485
KLYS Director and President Richard Surber's only post to Raging Bull
Message 14130578
Replies to "Demand to Retract False Statements or be Sued"
Message 14130590
Insider Trades
Message 14130509
Indicted Businessman Has Long Trail of Iffy Ventures
Message 14130799
Xeta Corporation vs. Canton Industrial Corp and Richard David Surber and Gerald Curtis (D.C. No. 95-CV-218)
Message 14130830
Additional businesses at 268 West 400 South, Suite 300, Salt Lake City, Utah 84101
Message 14130837
Update on Retractions & Lawsuit
Message 14147738
Tête-à-têtes with Surber's lawyer on Raging Bull
Message 14147877
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The following are examples of CYAA spam on RB:
this could be it
CYAA is the most undervalued stock I have ever seen!! They have earned 79 cents for
this first 2 quarters of this year and the stock is under $2 a share!!! CYAA's book value is
well above $3.00 a share!! CYAA has a PE of about 1 and growing over 100% a year!!
CYAA also owns 3 MILLION shares of CTWN...CYAA was just at $5 a few months ago
and has dropped for no reason. The cash per share is over $2.00.
Corporate Web Sites:
cyaa.com
hudsonconsult.com
Price Targets:
1 week: $6.00++
1 month: $10.00++
1 year: $32.00
CYAA should be trading over $20 a share right now...They are on track to earn $2 a
share this year and much more next year! The float is very thin and should move very fast.
Look at the great news today and in the past. This is a must own stock!
Note: As with any stock, you should always do your own research, and make your own
informed opinion about the stock.
ragingbull.altavista.com
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++++CHECK THIS ONE OUT++++
CYAA is the most undervalued stock I have ever seen!! They have earned 79 cents for this first 2 quarters of this year and the stock is under $2 a share!!! CYAA's book value is well above $3.00 a share!! CYAA has a PE of about 1 and growing over 100% a year!! CYAA also owns 3 MILLION shares of CTWN...CYAA was just at $5 a few months ago and has dropped for no reason. The cash per share is over $2.00.
Corporate Web Sites:
cyaa.com
hudsonconsult.com
Price Targets:
1 week: $6.00++
1 month: $10.00++
1 year: $32.00
CYAA should be trading over $20 a share right now...They are on track to earn $2 a share this year and much more next year! The float is very thin and should move very fast. Look at the great news today and in the past. This is a must own stock!
ragingbull.altavista.com
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- Jeff |
