CYBK Acquires 100% Of EPA Petroleum, Inc And Names Nathan Hall As The New Sole Officer And Director Of The Company
CYBK to Spin off Cyber-Thingy as a dividend to its shareholders
DEBARY, Fla., Sept. 3, 2014 /PRNewswire/ -- Cyber Kiosk Solutions, Inc. (OTC PINK: CYBK) is pleased to announce the Company has acquired EPA Petroleum, Inc.(EPA) as a wholly owned subsidiary for 300 million shares of Restricted Common stock and Nathan Hall has been appointed the sole officer and director of CYBK.
EPA Petroleum, Inc. will be the new operating company within CYBK. The former officers and directors have resigned and Christopher J Clarke is returning 65 million shares of Common stock back to the Company.
EPA Petroleum, Inc. (EPA) is an oil drilling company with operations in Pennsylvania. EPA currently has 4 groups of 10 Oil Well blocks to be able to drill on over 250 acres of land and has oil drilling underway on the same drilling lease. EPA focuses in on a niche area of drilling that is very conservative focusing in on benefits from the tax deductions available for an oil and gas drilling investment including intangible drilling costs, depreciation, operating costs, and percentage depletion. Structured properly, partners may offset their taxable income gained from other sources with the substantial deductions available from investing in oil and gas wells.
EPA currently targets oil drilling opportunities between 1 to 3000 feet in depth with most oil wells being between 1000 to 1300ft feet. This limits the risk of drilling a dry hole along with many other mitigating factors. EPA chooses its locations based on proven reserves and geology/nuclear well reports in the region. The company does NOT do any "Wild Cat Drilling" and EPA's areas of drilling are in the vicinity of where Quaker State Oil, Pennzoil, and the Rockefeller families all began in the oil business.
After reviewing geology reports EPA's oil drilling program expects between 850 to 1500 barrels of oil per well, in year one. Some wells in the area have produced higher yields in year one and oil yields may fluctuate. The company's current operations are in the Oil City, Pennsylvania and Venango County, Pennsylvania areas that have historical proven reserves and are located within miles of the birth of the Oil Industry (Titusville, Pennsylvania). Due to hydraulic fracking, these areas have come back alive and are producing oil again.
At the end of June EPA had $300,000 in cash in the bank and has its own investment source, which has committed funds for future land leases and drilling operations. This gives the Company an advantage of not having to sell shares in the market to raise capital for future operations. The Company headed by Nathan Hall has agreed not to do a reverse split for a minimum of one year, allowing it time to evaluate market conditions.
The Company, simultaneously with the Closing of the EPA transaction, moved all of its contracts, agreements, LOI's and any other agreement whether written or oral into Cyber-Thingy, Inc., of which Oren Manelis has been appointed as the Sole officer and director of the company.
The Company will file with FINRA to change the name, the symbol and effect a spin off of Cyber-Thingy, Inc., to its shareholders no later then October 10, 2014. Next week CYBK will announce an official record date and details for the Spin Off of Cyber-Thingy.
http://finance.yahoo.com/news/cybk-acquires-1...00406.html
CYBK to Spin off Cyber-Thingy as a dividend to its shareholders
DEBARY, Fla., Sept. 3, 2014 /PRNewswire/ -- Cyber Kiosk Solutions, Inc. (OTC PINK: CYBK) is pleased to announce the Company has acquired EPA Petroleum, Inc.(EPA) as a wholly owned subsidiary for 300 million shares of Restricted Common stock and Nathan Hall has been appointed the sole officer and director of CYBK.
EPA Petroleum, Inc. will be the new operating company within CYBK. The former officers and directors have resigned and Christopher J Clarke is returning 65 million shares of Common stock back to the Company.
EPA Petroleum, Inc. (EPA) is an oil drilling company with operations in Pennsylvania. EPA currently has 4 groups of 10 Oil Well blocks to be able to drill on over 250 acres of land and has oil drilling underway on the same drilling lease. EPA focuses in on a niche area of drilling that is very conservative focusing in on benefits from the tax deductions available for an oil and gas drilling investment including intangible drilling costs, depreciation, operating costs, and percentage depletion. Structured properly, partners may offset their taxable income gained from other sources with the substantial deductions available from investing in oil and gas wells.
EPA currently targets oil drilling opportunities between 1 to 3000 feet in depth with most oil wells being between 1000 to 1300ft feet. This limits the risk of drilling a dry hole along with many other mitigating factors. EPA chooses its locations based on proven reserves and geology/nuclear well reports in the region. The company does NOT do any "Wild Cat Drilling" and EPA's areas of drilling are in the vicinity of where Quaker State Oil, Pennzoil, and the Rockefeller families all began in the oil business.
After reviewing geology reports EPA's oil drilling program expects between 850 to 1500 barrels of oil per well, in year one. Some wells in the area have produced higher yields in year one and oil yields may fluctuate. The company's current operations are in the Oil City, Pennsylvania and Venango County, Pennsylvania areas that have historical proven reserves and are located within miles of the birth of the Oil Industry (Titusville, Pennsylvania). Due to hydraulic fracking, these areas have come back alive and are producing oil again.
At the end of June EPA had $300,000 in cash in the bank and has its own investment source, which has committed funds for future land leases and drilling operations. This gives the Company an advantage of not having to sell shares in the market to raise capital for future operations. The Company headed by Nathan Hall has agreed not to do a reverse split for a minimum of one year, allowing it time to evaluate market conditions.
The Company, simultaneously with the Closing of the EPA transaction, moved all of its contracts, agreements, LOI's and any other agreement whether written or oral into Cyber-Thingy, Inc., of which Oren Manelis has been appointed as the Sole officer and director of the company.
The Company will file with FINRA to change the name, the symbol and effect a spin off of Cyber-Thingy, Inc., to its shareholders no later then October 10, 2014. Next week CYBK will announce an official record date and details for the Spin Off of Cyber-Thingy.
http://finance.yahoo.com/news/cybk-acquires-1...00406.html
