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Cyber
Defense Systems SB2 Registration Statement Declared Effective
by SEC
ST. PETERSBURG, Fla., Aug 09, 2005 (BUSINESS
WIRE) -- Cyber Defense Systems, Inc. (OTCBB:CYDF), a designer
and developer of next generation unmanned aerial vehicles
(UAV''s) and an operating subsidiary of Proxity, Inc. (Pink
Sheets: PRXT), today announced that its SB2 registration statement
had been declared effective by the SEC.
The offering relates to the sale of up to
2.0 million shares of the company''s Class A common stock
that are being offered at an offering price of $3.25 per share
and the resale registration of up to 6,782,896 shares of our
common stock. The proceeds of our offering will allow Cyber
Defense Systems Inc., to eliminate existing debt, facilitate
Cyber''s option to merge with Techsphere System International,
LLC, enhance business development, ramp up sales and marketing
efforts on its UAV and Airship line of products and increase
general working capital. The results of this registration
will also allow Cyber Defense Systems, Inc., the opportunity
to increase its net assets and allow the company to pursue
a major stock exchange listing, thus enabling a broader shareholder
base.
"We are delighted to that our registration
statement has been declared effective by the SEC," commented
Billy Robinson, CEO of Cyber Defense Systems. "The funding
options now open to the company should help Cyber achieve
the goal of becoming a world leader in the fight against terrorism."
About Cyber Defense Systems:
Cyber Defense Systems, Inc. is designing and
building a new generation of UAV''s. Cyber Defense also has
the global government and military marketing rights to Techsphere
Systems International LLC Spherical and Semi-spherical airships.
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. http://www.cduav.com
Cyber Defense Systems, Inc. (OTCBB: CYDF)
is an operating subsidiary of Proxity, Inc. (Pink Sheets:
PRXT).
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 the Company''s majority shareholder.
Proxity seeks to acquire and develop security technology.
The Company plans to enter into teaming and exclusive and
nonexclusive marketing and distribution agreements with products
developed for commercial, military and homeland defense. http://www.proxity.com
About Techsphere Systems International, LLC:
Techsphere Systems International, LLC, 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
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
Techsphere Systems, LLC
Mike Lawson, 404-446-2203
mlawson@techsphere.us
or
TTC Group, Inc
Victor Allgeier, 212-227-0997
Info@ttcominc.com
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