Cyber
Defense Systems Announces Merger with Techsphere Systems International
Cyber Defense Systems, Inc. (OTCBB: CYDF)
announces Techsphere Systems International, LLC has signed
an agreement granting Cyber Defense the exclusive right to
merge a wholly owned subsidiary of Cyber Defense into Techsphere
Systems. Techsphere Systems will be the surviving corporation
and become a wholly owned subsidiary of Cyber Defense. Techsphere
will continue to manufacture, sell and lease airships presently
being designed and manufactured by Techsphere in Columbus,
GA. Cyber Defense will continue to work with Techsphere on
the sales and marketing of its Airships as well as the marketing
and development of Cyber Defense products. For additional
information please refer to the 8K to be filed with respect
to the transaction.
Cyber Defense Systems is an operating subsidiary
of Proxity, Inc. (Pink Sheets:PRXT).
Billy Robinson, CEO of Cyber Defense Systems
states, "Separately we have invested our own capital
to build and fly prototypes. We have proven out designs and
concepts and continue to strive for excellence as we bring
new airships and UAVs into the marketplace. Techsphere and
Cyber Defense already hold the respect of the industry as
individual companies. Joining together makes us a powerful
team capable of influencing military, law enforcement, homeland
defense and commercial buyers. Since the UAV market is rapidly
evolving and changing, this merger will also allow us the
opportunity for more long term planning. We are very comfortable
combining Techsphere's vast business and airship manufacturing
experience with Cyber's and look forward to an exciting future."
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.cyberdefensesystems.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
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
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: Techsphere Systems
David Payne, 404-898-2275
http://www.techsphere.us
or
Emerson Gerard Associates, Inc.
Cyber Defense Media Contact:
Jerry Jennings, 561-881-7318
mediareply@emersongerard.com
http://www.emersongerard.com
or
Equitilink LLC
Cyber Defense Investor Contact:
Andy Arms, 877-788-1940
International or local: 858-824-1940
http://www.equitilinkpr.com
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