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Wasserman Morris
& Co. Initiates Coverage and Issues Research Report for
Cyber Defense Systems with a Price Target of $1.60
Thursday October 27, 6:30 am ET
NEW YORK & ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Oct.
27, 2005--Cyber Defense Systems, Inc. (OTC BB:CYDF.OB - News)
today announced that New York-based Wasserman Morris &
Company, an independent investment research firm, began its
initial coverage of the Company.
Wasserman Morris issued a speculative buy rating with a target
price of $1.60. Their report, which is available for viewing
at http://www.wassermanmorris.com and on Cyber Defense Systems'
website http://www.cduav.com, cites "We believe that
the current company specific risks outweigh by far the future
potential value of the company. It is an attractive Homeland
Security stock that we would expect to evolve into more than
just a Homeland security spending stock.
Billy Robinson, Cyber Defense Systems' CEO, said, "We
are extremely pleased with the comprehensive research report
that the analyst, at such a respected independent research
firm Wasserman Morris & Co. compiled. They assessed the
upside potential of our strategy and efforts to position ourselves
for future growth in our industry."
Wasserman Morris & Co. is an equity research firm providing
un-biased research for significantly under-followed small
cap companies. Wasserman Morris & Co. distributes its
research to a broad audience of institutional and individual
investors seeking information on under-followed small cap
stocks.
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. After the declared dividend
Proxity a major shareholder in CYDF will own 18,250,000 shares.
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
or
Wasserman Morris
Adam Bolden, 212-382-1791
info@wassermanmorris.com
Source: Cyber Defense Systems, Inc.
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"forward-looking statements" within the meaning of
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