JACKSONVILLE, FL - During the dot-com boom era of the mid to late 1990’s, Cyber Cities, Inc. proved to be a fairly competitive rival in the free hosting industry. Originally located in Flagstaff, Arizona and now with offices in Susanville, California, Cyber Cities has been able to acquire thousands of customers for both free and paid services.
However, within this last year, Cyber Cities has had a difficult time keeping up with the enormous amounts of registrations and diminishing staff. When Reyox Communications initially proposed to buy the company in 2003, they were turned down on the bid. This time though, it appears both parties have come to an agreement that’ll benefit each with little risky investment.
Cyber Cities, Inc. will be issuing stock certificates to Reyox Communications by May 23, 2004 in exchange for an undisclosed sum of money. New construction on the Cyber Cities website will begin shortly thereafter. The board of directors of Reyox Communications is currently working with various investors to complete this process.
“I’m overly excited about this alliance,” said the founder of Cyber Cities, Inc., Roman Ruhnke. “This will give me a chance to share my experience with an up and coming company,” he added.
More information will be released as this transaction progresses.
