To: Frank_Ching who wrote (8398 ) 6/19/2000 4:14:00 PM From: StockDung Read Replies (1) | Respond to of 10354
Lets see how Francois Goelo's other stock is doing today. Francois Goelo got me suspended from ragingbull prior to the indictments. I was posting about Allen Wolfson and his involvement in CYAA. Funny how fate is sometimes. CyberAmerica Corp. Makes Announcement SALT LAKE CITY--(BUSINESS WIRE)--June 19, 2000--CyberAmerica Corp. (OTC BB: CYAA) ("CYAA") was served with a search warrant on June 14, 2000, in apparent reference to the arrest and indictment of Allen Wolfson in the United States District Court for the Southern District of New York. CYAA has not been informed that it is, in any fashion, a target of the investigation and is not aware of any relationship it might have to any of the defendants named in the indictment other than with Wolfson. CYAA has reviewed the allegations made in the complaint and is in the process of determining what appropriate actions should be taken regarding its relationship with Wolfson. Upon obtaining the necessary information to make an informed decision, CYAA will make a determination regarding the best course of action to be taken. At this stage, there is insufficient information to make such a determination. In the event CYAA determines that it is in the best interest of CYAA to terminate its business relationship with Wolfson, CYAA's management is confident that it can continue to grow CYAA's business. If the business relationship with Wolfson is terminated, CYAA may consider buying out Wolfson's direct and indirect shareholdings in exchange for debt owed to CYAA from Wolfson or entities controlled by Wolfson. Wolfson is disclosed as a control person in CYAA's SEC filings based upon his stock ownership interests in CYAA, his familial relationship to the president of CYAA and that he has acted as a consultant to CYAA on numerous matters. CYAA is a diversified holding company that specializes in investing and developing undervalued real estate and provides financial consulting services to public and private companies. These operations are expected to continue in a normal fashion for the foreseeable future. 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 suggests that the above information be read in conjunction with its Form 10-KSB for Dec. 31, 1999 and Form 10-QSB for the quarter ended March 31, 2000. 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 provisions of the Private Securities Litigation Reform Act 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. CONTACT: CyberAmerica Corp., Salt Lake City Richard Surber, 801/575-8073 Fax: 801/575-8092 KEYWORD: UTAH NEW YORK BW3056 JUN 19,2000 12:56 PACIFIC 15:56 EASTERN