Here's PRs detailing KADING involvment with CYSI ...
First - note the address in the PR (Tortola, British Virgin Islands) and then remember that funds that make it offshore to many Caribbean islands is out of the reach of U.S. jurisdiction (I would assume Brit. V.I. is one of these?)
Also, remember this link about a BB company's location:
allstocks.com
Now the KADING links:
1. PR of Smartfit and Cyberfast merging
2. PR of KADING gifting CYSI stock
3. PRs saying that KADING is a British Virgin Islands company
1....
11/12/98
Smartfit (SXFT) and Cyberfest (CYSI) merge Nov. 12, 1998
Summary link:
library.northernlight.com.
SMARTFIT FOUNDATIONS, INC. ACQUIRES CYBERFAST NETWORK SYSTEMS CORP
HIGHLAND BEACH, Fla., Nov. 12 /PRNewswire/ -- SmartFit Foundations, Inc., a publicly owned company (OTC Bulletin Board: SXFT) (the "Company") and Cyberfast Network Systems Corp. ("Cyberfast"), a Florida corporation, have concluded an exchange of shares pursuant to which SXFT acquired 100% of Cyberfast and changed its name to Cyberfast Systems, Inc. The new symbol for the Company on the OTC Bulletin Board is "CYSI."
Cyberfast Network Systems Corp. is an international provider of data
communications services, primarily between the United States and
certain underserved developing countries. Cyberfast has obtained
licenses in various countries where competition is typically limited
or nonexistent. Customers include several Fortune 500 companies who
have need for dedicated lines primarily for the outbound transfer of
large computer data files. Cyberfast operates switching facilities
connected to local telephone company services at the sites of origin
in the U.S. and at the destination points. Transmissions are made
over leased fiber-optic lines connected by company-owned digital
fiber-optic transmission facilities consisting of state-of-the-art
computer switching and telecommunications equipment.
Cyberfast has also invested heavily in proprietary software and the
development of operational expertise in order to position itself to
expand its services worldwide. The telecommunications industry today
is an international multi-billion dollar industry. Data communications volume is projected to represent the vast majority of
traffic carried on telecommunications networks within the next few
years. The corporate strategy of Cyberfast will continue to be
identifying and establishing an immediate and dominating presence in
strategically located regions where telecommunications have been largely disregarded and are viewed as difficult to establish and
to utilize its infrastructure and expertise to expand into related businesses such as internet-based services.
Cyberfast operated as a Sub-Chapter "S" corporation until October 1,
1998, which was the effective date of the acquisition by SXFT for
accounting purposes. Cyberfast audited financial statements for the
six months ended June 30, 1998, included revenues of $6,041,405
and pre-tax net income of $2,163,435. Net income on a pro-forma after-
tax basis was $1,406,230. Unaudited consolidated pro-forma results
for the nine months ending September 30, 1998, included revenues of
$7,358,521 and after-tax net income of $1,866,188 or $.32 per share
on the total shares outstanding after completion of the acquisition.
The acquisition of Cyberfast by SXFT was accomplished by the issuance
of 4,750,000 shares of restricted Class B super voting common stock
to the stockholders of Cyberfast in a tax-free exchange for 100% of
the outstanding shares of Cyberfast. CYSI now has 5,820,000 shares
of common stock issued and outstanding of which 980,150 are free
trading.
Cyberfast Systems, Inc. common stock is traded on the Over-the-
Counter Bulletin Board under the symbol "CYSI." SOURCE Cyberfast
Systems, Inc.
11/12/98 /CONTACT: William Harrison or Gerald Patera, both of Bridgestone Capital Group,
for Cyberfast Systems, Inc., 248-547-1300/
(SXFT CYSI) CO: Cyberfast Systems, Inc.; SmartFit Foundations, Inc.; Cyberfast Network Systems Corp. ST: Florida, New York IN: CPR TLS MLM SU: TNM
Definition of "S" Corporation:
hansontax.com
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2.......
11/17/98
Kading Companies, S.A. Announces Gift of 100 Shares of Common Stock in CyberFast Systems Inc
Summary Link:
library.northernlight.com.
NEW YORK (Nov. 17) BUSINESS WIRE -Nov. 17, 1998--Kading Companies, S.A. (OTCBB:KDNG) is pleased to announce a gifted 100 shares of
common stock in CyberFast Systems Inc. (OTCBB:CYSI) for each Kading
Companies, S.A. Shareholder as of record date Oct. 13, 1998.
Kading shareholders, of record date 10-13-1998, received a gifted 100 shares each in lieu of a fourth quarter cash dividend in the stock of CyberFast. Kading Companies, S.A. received 13,600 shares for its services relating to expediting the reverse acquisition of CyberFast
by Smartfit. Kading Companies, S.A. expects to continue paying dividends and gifting stock when appropriate.
CyberFast is an international provider of data communications services. Unaudited consolidated pro-forma results for the nine months ending Sept. 30, 1998, included revenues of $7,358,521 and after-tax net income of $1,866,188 or 32 cents per share on total shares outstanding after completion of the acquisition of 5,820,000.
For further information on Kading Companies, S.A. contact: Kevin H. Kading at 718/981-5678.
Contact:
Kading Companies, S.A., New York
Kevin H. Kading, 718/981-5678
Fax: 718/981-3521
email: kdng@cwix.net
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3.........
library.northernlight.com.
Direct Stock Market announced today that Two Moose Brewing Co.,
a developmental-stage company, and Kading Companies (OTC Bulletin Board: KDNG), a British Virgin Islands corporation, have listed their offerings on DSM's Internet site.
3........
KDNG appears in search list for reverse mergers, qtr financial news, PR in Brit Virgin Isles northernlight.com.
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3.......
Wednesday August 5, 3:09 pm Eastern Time
Company Press Release
TORTOLA, British Virgin Islands--(BUSINESS WIRE)--Aug. 5, 1998--Kading Companies, S.A. (OTC-BB KDNG) Kading Companies, S.A., reported today that for the period ending May 31, 1998 its third quarter profits more than tripled from its second quarter.
The New York based company explains net income rose to $62,800 or 4 cents a share (based on 1.7 million shares outstanding), up from $15,000 or 1 cent a share (based on 1.5 million shares outstanding). For the nine month period ending May 31, 1998, its profit was $87,300 or 6 cents per share (based on 1.55 million shares outstanding)
versus a loss of $25,000 or 2 cents per share from a year earlier (based on 1.3 million shares outstanding).
Kading Companies, S.A. is a high profit transaction based merchant banking concern positioned to identify distressed and undervalued companies and increase their value through various solutions.
For further information contact International Buying Power Corporation
(561) 482-0004 / Fax (561) 488-2602 This material was prepared by International Buying Power Corporation (''IBP''), for the company discussed herein, based upon information supplied by the client or other sources believed to be reliable. The company's actual results could differ materially from those described in the forward-looking statement discussed in this press release. This material is for information purposes and should not be construed as an offer or solicitation of an offer to buy or sell the securities. IBP, its affiliates, and/or its officers, directors and employees may from time to time have a position in these securities. IBP has received compensation for the preparation of its report.
Contact:
Kading Companies,
Kevin Kading, 718/981-5678
Contact:
Kading Companies, S.A., New York
Kevin H. Kading, 718/981-5678
Fax: 718/981-3521
email: kdng@cwix.net
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