HAUPPAUGE, N.Y., July 10, 2009 (GLOBE NEWSWIRE) -- Cyber Digital, Inc. (OTCBB:CYBD), a developer of communications systems, announced today that it has voluntarily filed a Form 15 with the SEC to delist the common shares of the company from the OTC Bulletin Board. The company hopes that its shares will be traded on the OTC Pink Markets. This trading venue will relieve the company from very costly mandatory reporting requirements of the SEC, which the company is unable to afford.
Cyber Digital was and is in good standing with the SEC, being current with all of its required filings. However, relief from the reporting requirements will save the company substantial amount of management time and will substantially reduce professional fees on a quarterly and annual basis.
"Given the current trading volume of the company's common stock, the expenses related to compliance and reporting requirements for OTCBB listing could be re-directed to better use growing our business, especially when we are greatly under-capitalized," stated J.C. Chatpar Chairman and CEO of Cyber Digital, Inc.
About Cyber Digital, Inc.
Cyber Digital, Inc. is a designer, software developer and manufacturer of proprietary advanced distributed digital voice switches and high-performance Internet Protocol (IP) broadband systems, such as soft-switches, routers, gateways, firewalls and servers for network operators worldwide. It also provides communications services through its subsidiary to small businesses and residential subscribers. For more information, visit www.cyberdigitalinc.com
Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" for purposes of the Private Securities Litigation Act of 1995 that involve risks and uncertainties. There can be no assurances that forward-looking statements will be achieved, and actual results could differ materially from the events or results predicted by such statements. Investors should refer to important risk factors that could cause actual events or results to differ materially, which are discussed in greater detail in Cyber Digital's filings with Securities and Exchange Commission.