SOURCE: CyberKey Solutions, Inc.

October 31, 2006 08:31 ET

BUYINS.NET Identifies Short Selling of 102 Million Shares of CyberKey Solutions Stock

ST. GEORGE, UT -- (MARKET WIRE) -- October 31, 2006 -- CyberKey Solutions, Inc. (PINKSHEETS: CKYS) wishes to inform its shareholders and the public that BUYINS.NET has determined that the total aggregate number of CyberKey shares shorted from January 2005 to October 2006 is approximately 102 million with an estimated dollar value of $2.3 million.

The SqueezeTrigger price of $0.0227 is the volume-weighted average short price of all short selling in CKYS over that period. A short squeeze began when shares of CKYS closed above $0.0227 and short sellers started losing money. To access SqueezeTrigger prices ahead of potential short squeezes visit http://www.buyins.net. This information is valuable in determining the precise point at which short sellers go out-of-the-money and start losing on their short and naked short trades.

"Short selling, especially 'naked' short selling, is a drain on the investment community and robs millions of dollars from investors. It also significantly reduces the ability of small cap companies to raise capital for their operations. By identifying the fact that there is a short position, we hope to address the issue and see a more accurate share price," stated Jim Plant, CEO of CyberKey Solutions, Inc.

CyberKey Solutions, Inc. recently announced that the Company's Board of Directors has approved a stock buyback program of up to $1 million of its common stock over the next 180 days. The share repurchase will be funded using the company's existing cash balance and future cash flows. The share repurchases will occur through open market purchases, privately negotiated transactions and/or transactions structured through investment banking institutions as permitted by securities laws and other legal means.

About CyberKey Solutions, Inc.:

CyberKey® Solutions, Inc. is currently fulfilling a $25 Million purchase order to various segments of the U.S. Government. CyberKey® Solutions, Inc., based in St. George, Utah, partners with industry-leading manufacturers and distributors to deliver secure USB drive-based solutions to vertical markets and content owners, service providers and resellers. CyberKey's solutions solve real world issues in the entertainment, education, government, military, automotive, financial services and medical industries. CyberKey Solutions' technologies allow users to securely transfer large amounts of data, files and applications software from one electronic device to another while employing a patent-pending USB-based Digital Rights Management process. CyberKey's solutions create new opportunities for existing industries and applications.

For more information, please visit CyberKey's website at http://www.cyberkeysolutions.com.

Statements contained in this news release, other than those identifying historical facts, constitute 'forward-looking statements' within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.

Contact Information

  • Contact:
    CyberKey® Solutions, Inc.
    Investor Relations
    1-866-THE-APPL(E)