Cyber Defense Systems
Signs LOI and Reseller Agreement with V-TOL Aerospace Pty
Ltd for Australian Joint Venture to be named Cyber Aerospace
Australia
ST. PETERSBURG, Fla., Oct 03, 2005 (BUSINESS WIRE) -- Cyber
Defense Systems, Inc. (OTCBB:CYDF), a designer and developer
of next-generation unmanned aerial vehicles (UAV''s), today
announced it has signed a letter of intent and reseller agreement
with V-TOL as the two companies will look to enhance each
other in the global marketplace.
The new entity will be called Cyber Aerospace Australia Pty.,
Ltd. (CAA), and will be a joint venture to manufacture and
develop a family of unmanned air vehicles (UAV''s). Located
in Brisbane, Australia, the ownership will be divided 50/50
between the two parent corporations. The Board will consist
of four members, two from Cyber Defense Systems, Inc., and
two from V-TOL. The position of Chairman of the Board will
be rotational.
Cyber Defense Systems, Inc. will provide VTOL with solutions
that will bridge capability gaps that may be created by a
customer''s mission requirement. Such solutions may include,
but are not limited to: high altitude unmanned aerial vehicle
(UAV) technology, fixed wing airship technology, and multi-use
platform vehicle technology. These technological solutions
will be critical to the continued development of the Joint
Ventures next generation robotic air-platforms.
The first project to be developed will be the next-generation
CyberScout(TM). This composite jet turbine version of the
current flying prototype CyberScout(TM). The project has been
fully funded with the full production scheduled to begin in
approximately 6 months. The new CyberScout over all dimensions
will be approximately 90" by 90", weigh 70 lb fully
fueled, have 1 hour of flight time, 40 lbs of payload including
fuel with a 250 Knots top end airspeed.
The newly formed entity will enable Cyber Defense Systems,
Inc. & V-TOL to pursue Capital financing both in USA and
within Australia and through grant programs in each country.
We are delighted to have partnered with V-TOL for the design,
development and implementation of our line of UAV''s,"
commented Mr. Billy Robinson, CEO of Cyber Defense Systems.
"Their design and support of next-generation airborne
platforms is unparalled in the industry, and we look forward
to developing the world''s most sophisticated UAV''s, added
Mr. Robinson."
Mark Antonio Xavier, Managing Director, V-TOL Aerospace Pty
Ltd., commented, "With the recent agreement to become
the CyberBug(TM) reseller and entering into the LOI, we look
forward to our newly formed partnership with Cyber Defense
and believe our complementing technologies will enable us
to deliver low-cost defense and communication technology solutions
to the world."
ABOUT CYBER DEFENSE SYSTEMS
Cyber Defense Systems, Inc. is designing and building a new
generation of UAV''s. Cyber Defense is currently marketing
the airships and their CyberBug(TM) UAV''s to various branches
of the U.S. government and U.S. allies as multi-use platform
vehicles capable of deployment in surveillance and communication
operations. Cyber Defense Systems, Inc. http://www.cduav.com
(OTCBB: CYDF).
ABOUT TECHSPHERE SYSTEMS INTERNATIONAL
Techsphere Systems International, Inc., a wholly owned subsidiary
of Cyber Defense, is located in Atlanta and Columbus, GA,
is the manufacturer of low-, mid- and high-altitude airships.
Together with their teaming companies, Techsphere will design
and build unique airship platforms for use in many areas including
surveillance, the military and wireless communications. The
current spherical airship design holds the world altitude
record at over 20,000 feet. http://www.techsphere.us.
ABOUT PROXITY
Proxity, Inc. is a developmental holding company specializing
in the deployment and marketing of security protection technology
and government contract fulfillment. With 18,750,000 shares
in CYDF, Proxity is a major shareholder. Proxity seeks to
acquire and develop both Internet-based business opportunities
and security technology. The Company plans to enter into developmental,
teaming and exclusive and nonexclusive marketing and distribution
agreements with products developed for Government, commercial,
military and homeland defense areas. http://www.proxity.com.
(PinkSheets:PRXT).
ABOUT V-TOL AEROSPACE
V-TOL designs and supports next generation robotic airborne
platforms called i -Products(TM). Where a combination of i
-Products(TM) is required to achieve the desired outcome V-TOL
will craft doctrine and the Operating Procedures to deliver
an effective operational i -System(TM) solution. V-TOL Aerospace
represents a unique collection of industry knowledge and experience
schooled in teamwork to achieve superior outcomes. Many of
our key personnel have been involved in UAV related projects
since the early 1990s, including trials of early generation
fixed wing systems such as the AV-Pointer. Our human capital
is V-TOL''s competitive advantage. http://www.v-tol.com/
This release contains statements that constitute forward-looking
statements. These statements appear in a number of places
in this release and include all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of the Company, its directors or its officers
with respect to, among other things: (i) the Company''s financing
plans; (ii) trends affecting the Company''s financial condition
or results of operations; (iii) the Company''s growth strategy
and operating strategy; and (iv) the declaration and payment
of dividends. The words "may," "would,"
"will," "expect," "estimate,"
"anticipate," "believe," "intend,"
and similar expressions and variations thereof are intended
to identify forward-looking statements. Investors are cautioned
that any such forward-looking statements are not guarantees
of future performance and involve risks and uncertainties,
many of which are beyond the Company''s ability to control
and those actual results may differ materially from those
projected in the forward-looking statements as a result of
various factors.
SOURCE: Cyber Defense Systems, Inc.
CONTACT: Cyber Defense Systems, Inc
Billy Robinson, 727-577-0878
billy@cduav.com
or
V-TOL Aerospace Pty Ltd
Mark Antonio Xavier, 617-3275-2811
info@v-tol.com
or
TTC Group, Inc
Victor Allgeier, 212-227-0997
Info@ttcominc.com |
