Cyber Digital (CYBD.OB) Acquires Two Companies
Software designer and developer Cyber Digital Inc. (OTCBB: CYBD) announced that it had acquired two “profitable” telephone companies last week, adding former eLEC Communications Corp subsidiaries New Rochelle Telephone Corp and Telecarrier Services Inc. to Cyber Digital’s services.According to the release, Cyber Digital acquired these two companies on “cashless basis” by assuming $1.3 million of debt from both companies in addition to receiving more than 800,000 restricted shares of common eLEC Corp stock. Despite the acquisition, services for both companies have continued as normal; these companies will “operate as separate business units of Cyber Digital and have minimal or no…