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Cyber Defense and
Proxity Announce the Formation of Proxity Electronic Commerce
Systems, LLC (PECS)
ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Oct. 13, 2005--Cyber
Defense Systems, Inc (OTCBB: CYDF - News), a designer and
developer of next generation unmanned aerial vehicles (UAV's),
and its affiliate company, Proxity, Inc. (Pink Sheets: PRXT
- News), today announced the formation of Proxity Electronic
Commerce Systems, LLC (PECS). PECS is a technology database
company specializing in electronic commerce for all sectors
of business and Government and plans to have products available
to the public in December or early January of 2006. The new
company plans to start operations at the new Proxity facilities
to be located in Virginia Beach, Virginia.
PECS will be headed by Mr. Barry Nelsen, former Vice President
of Cyber Defense and Proxity, who has resigned from both companies
to manage the newly formed entity. Mr. Nelsen will continue
to consult with Cyber and Proxity for a period of 12 months
but will focus his efforts on ramping up PECS (www.proxity-ec.com).
William Robinson, CEO of Cyber Defense stated, "While
the company will miss the leadership of Barry, his role was
in assisting us in opening the company facilities as well
as establishing the company as an innovator in the world of
unmanned air vehicles." Robinson further stated that
"It has been the company's (Proxity) business goal to
fund new technology companies and spin those companies out
to the public market as it (Proxity) has done with Cyber Defense
- the next venture is PECS and Barry is a key ingredient in
the planned roll out. Mr. Nelsen will continue to assist Cyber
as a consultant with its on-going projects relating to the
airships and UAV development and will be relocating to Virginia
Beach later this year."
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 - News)
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 - News).
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.
Contact:
Cyber Defense Systems, Inc.
Techsphere Systems International, Inc.
Billy Robinson, 727-577-0878
billy@proxity.com
or
TTC Group, Inc
Victor Allgeier, 212-227-0997
Source: Cyber Defense Systems, Inc.
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